<SEC-DOCUMENT>0001171520-12-000827.txt : 20120927
<SEC-HEADER>0001171520-12-000827.hdr.sgml : 20120927
<ACCEPTANCE-DATETIME>20120927115651
ACCESSION NUMBER:		0001171520-12-000827
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20120927
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20120927
DATE AS OF CHANGE:		20120927

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FRANKLIN STREET PROPERTIES CORP /MA/
		CENTRAL INDEX KEY:			0001031316
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				042724223
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32470
		FILM NUMBER:		121112384

	BUSINESS ADDRESS:	
		STREET 1:		401 EDGEWATER PLACE
		STREET 2:		STE 200
		CITY:			WAKEFIELD
		STATE:			MA
		ZIP:			01880
		BUSINESS PHONE:		7815571300

	MAIL ADDRESS:	
		STREET 1:		401 EDGEWATER PLACE
		STREET 2:		STE 200
		CITY:			WAKEFIELD
		STATE:			MA
		ZIP:			01880

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FRANKLIN STREET PARTNERS LP
		DATE OF NAME CHANGE:	20010301
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>eps4858.htm
<DESCRIPTION>FRANKLIN STREET PROPERTIES CORP.
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</P>

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

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Date of Report (Date of earliest event reported):
<B> September 27, 2012</B></P>

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        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 16pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center"><B>FRANKLIN STREET PROPERTIES CORP.</B></P></TD></TR>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified in its
charter)</P>

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

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    <TD STYLE="width: 33%; border-bottom: windowtext 1pt dashed; font: bold 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; text-align: center">001-32470</TD>
    <TD STYLE="width: 33%; border-bottom: windowtext 1pt dashed; font: bold 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; text-align: center">04-3578653</TD></TR>
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        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">(State or other jurisdiction</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">of incorporation)</P></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Commission<BR> File Number)</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(IRS Employer<BR> Identification No.)</TD></TR>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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

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    <TD STYLE="width: 50%; border-bottom: windowtext 1pt dashed; font: bold 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; text-align: center">401 Edgewater Place, Suite 200, Wakefield, Massachusetts</TD>
    <TD STYLE="width: 50%; border-bottom: windowtext 1pt dashed; font: bold 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; text-align: center">01880</TD></TR>
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    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Address of principal executive offices)</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Zip Code)</TD></TR>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Registrant&rsquo;s telephone number, including
area code: <B> (781) 557-1300</B></P>

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    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Former name or former address, if changed since last report.)</TD></TR>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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
(<U>see</U> General Instruction A.2. below):</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: MS Mincho">&#9744;</FONT></TD><TD>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: MS Mincho">&#9744;</FONT></TD><TD>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: MS Mincho">&#9744;</FONT></TD><TD>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: MS Mincho">&#9744;</FONT></TD><TD>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR></TABLE>

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<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">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">On September 27,
2012, Franklin Street Properties Corp. (the &ldquo;Company&rdquo;) and certain of its wholly-owned subsidiaries entered into an
Amended and Restated Credit Agreement (the &ldquo;Credit Agreement&rdquo;) with the lending institutions referenced in the Credit
Agreement and those lenders from time to time party thereto (collectively, the &ldquo;Lenders&rdquo;) and Bank of America, N.A.,
as administrative agent (in such capacity, the &ldquo;Administrative Agent&rdquo;), L/C Issuer and Swing Line Lender, for an unsecured
credit facility comprised of both a revolving line of credit and a term loan (the &ldquo;New Facility&rdquo;). The revolving line
of credit portion of the New Facility is for borrowings, at the Company&rsquo;s election, of up to $500,000,000 (the &ldquo;Revolver&rdquo;).
The term loan portion of the New Facility is for $400,000,000 (the &ldquo;Term Loan&rdquo;). On September 27, 2012, the Company
drew down the entire $400,000,000 under the Term Loan and $82,000,000 under the Revolver. The Company&rsquo;s $600,000,000 revolving
credit facility that was scheduled to mature on February 22, 2014 was amended and restated in its entirety by the Credit Agreement
and the $482,000,000 in advances outstanding under that credit facility were repaid from the proceeds of the New Facility.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Term Loan has
a five year term that matures on September 27, 2017. Borrowings made pursuant to the Revolver may be revolving loans, swing line
loans or letters of credit, the combined sum of which may not exceed $500,000,000 outstanding at any time. Borrowings made pursuant
to the Revolver may be borrowed, repaid and reborrowed from time to time for four years until September 27, 2016, the initial maturity
date of the Revolver. The Company has the right to extend the initial maturity date of the Revolver by an additional 12 months,
or until September 27, 2017, upon payment of a fee and satisfaction of certain customary conditions. The Revolver includes an accordion
feature that allows for up to $250,000,000 of additional borrowing capacity subject to receipt of lender commitments and satisfaction
of certain customary conditions.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The New Facility
bears interest at either (i) a rate equal to LIBOR plus 135 to 190 basis points depending on the Company&rsquo;s total leverage
ratio at the time of the borrowing (LIBOR plus 145 basis points at September 27, 2012) or (ii) a rate equal to the bank&rsquo;s
base rate plus 35 to 90 basis points depending on our total leverage ratio at the time of the borrowing (the bank&rsquo;s base
rate plus 45 basis points at September 27, 2012). The New Facility also obligates the Company to pay an annual facility fee of
20 to 40 basis points depending on the Company&rsquo;s total leverage ratio (30 basis points at September 27, 2012). The facility
fee is assessed against the total amount of the New Facility, or $900,000,000. The actual amount of any applicable facility fee,
LIBOR rate or base rate is determined based on the Company&rsquo;s total leverage ratio as described in the table below:</P>



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

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

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<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 34%; border: black 1pt solid; line-height: 110%; font-weight: bold; text-align: center">Leverage Ratio</TD>
    <TD STYLE="width: 22%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; line-height: 110%; font-weight: bold; text-align: center">LIBOR<BR> Rate<BR> Margin</TD>
    <TD STYLE="width: 22%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; line-height: 110%; font-weight: bold; text-align: center">Base Rate<BR> Margin</TD>
    <TD STYLE="width: 22%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; line-height: 110%; font-weight: bold; text-align: center">Facility Fee</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0.1in; line-height: 200%"><U>&lt;</U> 25%</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">135.0 bps</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">35.0 bps</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">20.0 bps</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0.1in; line-height: 200%">&gt; 25% and <U>&lt;</U> 35%</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">140.0 bps</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">40.0 bps</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">25.0 bps</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0.1in; line-height: 200%">&gt; 35% and <U>&lt;</U> 45%</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">145.0 bps</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">45.0 bps</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">30.0 bps</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0.1in; line-height: 200%">&gt; 45% and <U>&lt;</U> 55%</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">165.0 bps</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">65.0 bps</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">35.0 bps</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0.1in; line-height: 200%">&gt; 55%</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">190.0 bps</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">90.0 bps</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">40.0 bps</TD></TR>
</TABLE>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; text-align: justify; margin: 0; ">For purposes of the
New Facility, base rate means, for any day, a fluctuating rate per annum equal to the highest of: (i) the bank&rsquo;s prime rate
for such day, (ii) the Federal Funds Rate for such day, plus 1/2 of 1.00%, and (iii) the one month LIBOR based rate for such day
plus 1.00%.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin: 0">Although
the interest rate on the New Facility is variable, under the Credit Agreement, the Company is permitted to fix the base LIBOR interest
rate on the Term Loan by entering into an interest rate swap agreement. On September 27, 2012, the Company entered into an ISDA
Master Agreement (together with the schedule relating thereto, the &ldquo;ISDA Master Agreement&rdquo;) with Bank of America, N.A.
that fixes the base LIBOR interest rate on the Term Loan at 0.75% per annum for five years. Accordingly, based upon the Company&rsquo;s
leverage ratio, as of September 27, 2012, the interest rate on the Revolver was 1.67% per annum and the interest rate on the Term
Loan was 2.20% per annum.</P>

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


<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Credit Agreement
contains customary affirmative and negative covenants for credit facilities of this type, including limitations with respect to
indebtedness, liens, investments, mergers and acquisitions, disposition of assets, changes in business, certain restricted payments,
the requirement to join certain subsidiaries as co-borrowers under the Credit Agreement and transactions with affiliates. The Credit
Agreement also contains financial covenants that require the Company to maintain a minimum tangible net worth, a minimum fixed
charge coverage ratio, a maximum secured leverage ratio, a maximum leverage ratio, a maximum unencumbered leverage ratio, a minimum
unencumbered debt service coverage ratio, a maximum ratio of certain investments to total assets and a maximum amount of secured
recourse indebtedness. The Credit Agreement provides for customary events of default with corresponding grace periods, including
failure to pay any principal or interest when due, certain cross defaults and a change in control of the Company (as defined in
the Credit Agreement). In the event of a default by the Company, the Administrative Agent may, and at the request of the requisite
number of lenders shall, declare all obligations under the Credit Agreement immediately due and payable, terminate the lenders&rsquo;
commitments to make loans under the Credit Agreement, and enforce any and all rights of the lenders or Administrative Agent under
the Credit Agreement and related documents. For certain events of default related to bankruptcy, insolvency, and receivership,
the commitments of lenders will be automatically terminated and all outstanding obligations of the Company will become immediately
due and payable. The Company may use the proceeds of the loans under the Credit Agreement to finance the acquisition of real properties
and for other permitted investments; to finance investments associated with Sponsored REITs (as defined in the Company&rsquo;s
Annual Report on Form 10-K for the year ended December 31, 2011), to refinance or retire existing indebtedness and for working
capital and other general business purposes, in each case to the extent permitted under the Credit Agreement.</P>

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

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Certain of the lenders
party to the Credit Agreement, and their respective affiliates, have performed, and may in the future perform for the Company and
its subsidiaries, various commercial banking, investment banking, underwriting and other financial advisory services, for which
they have received, and will receive, customary fees and expenses.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Credit Agreement
is attached to this Current Report on Form 8-K as Exhibit 10.1 and the ISDA Master Agreement is attached to this Current Report
on Form 8-K as Exhibit 10.2, and each is incorporated herein by reference. The foregoing summaries of the Credit Agreement and
the ISDA Master Agreement are qualified in their entirety by the complete text of the Credit Agreement and the ISDA Master Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Item 2.03 Creation of a Direct Financial
Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</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 0 12pt; text-align: justify; text-indent: 0.5in">The information
contained above under Item 1.01 is incorporated herein by reference.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 17.25pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 46.1pt">(d)</TD><TD STYLE="text-align: justify">Exhibits.</TD></TR></TABLE>

<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 0 0 1in; text-align: justify">See Exhibit Index attached hereto.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</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 0 12pt; text-align: justify; 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 0 12pt; text-indent: 0.5in">&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>&nbsp;</TD>
    <TD COLSPAN="3">FRANKLIN STREET PROPERTIES CORP.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 6pt">Date:&nbsp; September 27, 2012</TD>
    <TD COLSPAN="3" STYLE="padding-bottom: 6pt">By:&nbsp;&nbsp;&nbsp; /s/ George J. Carter</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: windowtext 1pt solid">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">George J. Carter</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">President and Chief Executive Officer</P></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 53%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

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

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&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: 21%; text-decoration: underline; text-align: justify">Exhibit No.</TD>
    <TD STYLE="width: 79%; text-decoration: underline; text-align: justify">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.1</TD>
    <TD STYLE="text-align: justify">Amended and Restated Credit Agreement, dated September 27, 2012, among Franklin Street Properties Corp. and the other parties thereto.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.2</TD>
    <TD STYLE="text-align: justify">ISDA Master Agreement, dated September 27, 2012, between Franklin Street Properties Corp. and Bank of America, N.A., together with the schedule relating thereto.</TD></TR>
</TABLE>
<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">&nbsp;</P>

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



<P STYLE="margin: 0"></P>

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<TYPE>EX-10
<SEQUENCE>2
<FILENAME>ex10-1.htm
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<HTML>
<HEAD>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.1</B></P>

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<P STYLE="margin: 0; text-align: right">Published CUSIP Number: ________________</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">AMENDED AND RESTATED CREDIT AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Dated as of September 27, 2012</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>FRANKLIN
STREET PROPERTIES CORP.<BR>
AND CERTAIN WHOLLY-OWNED SUBSIDIARIES,<BR>
</B></FONT>as the Borrower,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>BANK OF AMERICA, N.A.,<BR>
</B>as Administrative Agent, Swing Line Lender<BR>
and<BR>
L/C Issuer,<BR>
<BR>
and<BR>
<BR>
The Other Lenders Party Hereto<BR>
<BR>
<B>MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">successor by merger to, Banc of America Securities
LLC<BR>
<BR>
as Sole Bookrunner and Sole Lead Arranger,<BR>
<BR>
<BR>
<B>RBS CITIZENS, NATIONAL ASSOCIATION<BR>
<BR>
</B>as Syndication Agent</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><BR>
<B>REGIONS BANK<BR>
<BR>
</B>as Syndication Agent</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><BR>
<B>BANK OF MONTREAL<BR>
<BR>
</B>as Syndication Agent</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><BR>
<B>BBVA COMPASS<BR>
<BR>
</B>as Documentation Agent</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">as Documentation Agent</P>

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

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



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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">TABLE OF CONTENTS</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; text-decoration: underline">Section</TD>
    <TD STYLE="width: 74%">&nbsp;</TD>
    <TD STYLE="width: 14%; text-decoration: underline; text-align: right">Page</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">ARTICLE I. DEFINITIONS AND ACCOUNTING TERMS</TD>
    <TD STYLE="text-align: right">1</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">1.01</TD>
    <TD>Defined Terms</TD>
    <TD STYLE="text-align: right">1</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">1.02</TD>
    <TD>Other Interpretive Provisions</TD>
    <TD STYLE="text-align: right">23</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">1.03</TD>
    <TD>Accounting Terms</TD>
    <TD STYLE="text-align: right">24</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">1.04</TD>
    <TD>Rounding</TD>
    <TD STYLE="text-align: right">25</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">1.05</TD>
    <TD>Times of Day</TD>
    <TD STYLE="text-align: right">25</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">1.06</TD>
    <TD>Letter of Credit Amounts</TD>
    <TD STYLE="text-align: right">25</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">1.07</TD>
    <TD>Borrower Agent</TD>
    <TD STYLE="text-align: right">25</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">ARTICLE II. THE COMMITMENTS AND CREDIT EXTENSIONS</TD>
    <TD STYLE="text-align: right">25</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">2.01</TD>
    <TD>Committed Loans</TD>
    <TD STYLE="text-align: right">25</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">2.02</TD>
    <TD>Borrowings, Conversions and Continuations of Committed Loans</TD>
    <TD STYLE="text-align: right">26</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">2.03</TD>
    <TD>Intentionally Omitted</TD>
    <TD STYLE="text-align: right">27</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">2.04</TD>
    <TD>Letters of Credit</TD>
    <TD STYLE="text-align: right">27</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">2.05</TD>
    <TD>Swing Line Loans</TD>
    <TD STYLE="text-align: right">33</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">2.06</TD>
    <TD>Prepayments</TD>
    <TD STYLE="text-align: right">35</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">2.07</TD>
    <TD>Termination or Reduction of Revolver Commitments</TD>
    <TD STYLE="text-align: right">36</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">2.08</TD>
    <TD>Repayment of Loans</TD>
    <TD STYLE="text-align: right">36</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">2.09</TD>
    <TD>Interest</TD>
    <TD STYLE="text-align: right">36</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">2.10</TD>
    <TD>Fees</TD>
    <TD STYLE="text-align: right">37</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">2.11</TD>
    <TD>Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate</TD>
    <TD STYLE="text-align: right">38</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">2.12</TD>
    <TD>Evidence of Debt</TD>
    <TD STYLE="text-align: right">38</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">2.13</TD>
    <TD>Payments Generally; Administrative Agent&rsquo;s Clawback</TD>
    <TD STYLE="text-align: right">38</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">2.14</TD>
    <TD>Sharing of Payments by Lenders</TD>
    <TD STYLE="text-align: right">40</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">2.15</TD>
    <TD>Extension of Revolver Maturity Date</TD>
    <TD STYLE="text-align: right">40</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">2.16</TD>
    <TD>Increase in Commitments</TD>
    <TD STYLE="text-align: right">41</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">2.17</TD>
    <TD>Cash Collateral</TD>
    <TD STYLE="text-align: right">42</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">2.18</TD>
    <TD>Defaulting Lenders</TD>
    <TD STYLE="text-align: right">43</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">ARTICLE III. TAXES, YIELD PROTECTION AND ILLEGALITY</TD>
    <TD STYLE="text-align: right">45</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">3.01</TD>
    <TD>Taxes</TD>
    <TD STYLE="text-align: right">45</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">3.02</TD>
    <TD>Illegality</TD>
    <TD STYLE="text-align: right">48</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">3.03</TD>
    <TD>Inability to Determine Rates</TD>
    <TD STYLE="text-align: right">48</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">3.04</TD>
    <TD>Increased Costs</TD>
    <TD STYLE="text-align: right">49</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">3.05</TD>
    <TD>Compensation for Losses</TD>
    <TD STYLE="text-align: right">50</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">3.06</TD>
    <TD>Mitigation Obligations; Replacement of Lenders</TD>
    <TD STYLE="text-align: right">50</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">3.07</TD>
    <TD>Survival</TD>
    <TD STYLE="text-align: right">51</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">ARTICLE IV. CONDITIONS PRECEDENT TO CREDIT EXTENSIONS</TD>
    <TD STYLE="text-align: right">51</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">4.01</TD>
    <TD>Conditions of Initial Credit Extension</TD>
    <TD STYLE="text-align: right">51</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">4.02</TD>
    <TD>Conditions to all Credit Extensions</TD>
    <TD STYLE="text-align: right">52</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 80%">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">ARTICLE V. REPRESENTATIONS AND WARRANTIES</TD>
    <TD STYLE="text-align: right">53</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">5.01</TD>
    <TD>Existence, Qualification and Power</TD>
    <TD STYLE="text-align: right">53</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">5.02</TD>
    <TD>Authorization; No Contravention</TD>
    <TD STYLE="text-align: right">53</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">5.03</TD>
    <TD>Governmental Authorization; Other Consents</TD>
    <TD STYLE="text-align: right">53</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">5.04</TD>
    <TD>Binding Effect</TD>
    <TD STYLE="text-align: right">53</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">5.05</TD>
    <TD>Financial Statements; No Material Adverse Effect</TD>
    <TD STYLE="text-align: right">53</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">5.06</TD>
    <TD>Litigation</TD>
    <TD STYLE="text-align: right">54</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">5.07</TD>
    <TD>No Default</TD>
    <TD STYLE="text-align: right">54</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">5.08</TD>
    <TD>Ownership of Property; Liens</TD>
    <TD STYLE="text-align: right">54</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">5.09</TD>
    <TD>Environmental Compliance</TD>
    <TD STYLE="text-align: right">54</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">5.10</TD>
    <TD>Insurance</TD>
    <TD STYLE="text-align: right">54</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">5.11</TD>
    <TD>Taxes</TD>
    <TD STYLE="text-align: right">54</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">5.12</TD>
    <TD>ERISA Compliance</TD>
    <TD STYLE="text-align: right">55</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">5.13</TD>
    <TD>Subsidiaries; Other Equity Investments</TD>
    <TD STYLE="text-align: right">55</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">5.14</TD>
    <TD>Margin Regulations; Investment Company Act</TD>
    <TD STYLE="text-align: right">56</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">5.15</TD>
    <TD>Disclosure</TD>
    <TD STYLE="text-align: right">56</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">5.16</TD>
    <TD>Compliance with Laws</TD>
    <TD STYLE="text-align: right">56</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">5.17</TD>
    <TD>Taxpayer Identification Number</TD>
    <TD STYLE="text-align: right">56</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">5.18</TD>
    <TD>Reserved</TD>
    <TD STYLE="text-align: right">56</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">5.19</TD>
    <TD>REIT Status</TD>
    <TD STYLE="text-align: right">56</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">5.20</TD>
    <TD>Solvency</TD>
    <TD STYLE="text-align: right">56</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">5.21</TD>
    <TD>Unencumbered Asset Pool Properties</TD>
    <TD STYLE="text-align: right">56</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">ARTICLE VI. AFFIRMATIVE COVENANTS</TD>
    <TD STYLE="text-align: right">57</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">6.01</TD>
    <TD>Financial Statements</TD>
    <TD STYLE="text-align: right">57</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">6.02</TD>
    <TD>Certificates; Other Information</TD>
    <TD STYLE="text-align: right">58</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">6.03</TD>
    <TD>Notices</TD>
    <TD STYLE="text-align: right">59</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">6.04</TD>
    <TD>Payment of Taxes</TD>
    <TD STYLE="text-align: right">60</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">6.05</TD>
    <TD>Preservation of Existence, Etc</TD>
    <TD STYLE="text-align: right">60</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">6.06</TD>
    <TD>Maintenance of Properties</TD>
    <TD STYLE="text-align: right">60</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">6.07</TD>
    <TD>Maintenance of Insurance</TD>
    <TD STYLE="text-align: right">60</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">6.08</TD>
    <TD>Compliance with Laws</TD>
    <TD STYLE="text-align: right">60</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">6.09</TD>
    <TD>Books and Records</TD>
    <TD STYLE="text-align: right">60</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">6.10</TD>
    <TD>Inspection Rights</TD>
    <TD STYLE="text-align: right">60</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">6.11</TD>
    <TD>Use of Proceeds</TD>
    <TD STYLE="text-align: right">60</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">6.12</TD>
    <TD>Additional Borrowers</TD>
    <TD STYLE="text-align: right">61</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">6.13</TD>
    <TD>REIT Status</TD>
    <TD STYLE="text-align: right">62</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">6.14</TD>
    <TD>Reserved</TD>
    <TD STYLE="text-align: right">62</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">6.15</TD>
    <TD>Material Contracts</TD>
    <TD STYLE="text-align: right">62</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">6.16</TD>
    <TD>Further Assurances</TD>
    <TD STYLE="text-align: right">62</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">ARTICLE VII. NEGATIVE COVENANTS</TD>
    <TD STYLE="text-align: right">62</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">7.01</TD>
    <TD>Liens</TD>
    <TD STYLE="text-align: right">63</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">7.02</TD>
    <TD>Investments</TD>
    <TD STYLE="text-align: right">63</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">7.03</TD>
    <TD>Indebtedness</TD>
    <TD STYLE="text-align: right">63</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">7.04</TD>
    <TD>Fundamental Changes</TD>
    <TD STYLE="text-align: right">63</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">7.05</TD>
    <TD>Dispositions</TD>
    <TD STYLE="text-align: right">64</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">7.06</TD>
    <TD>Reserved</TD>
    <TD STYLE="text-align: right">64</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">7.07</TD>
    <TD>Change in Nature of Business</TD>
    <TD STYLE="text-align: right">64</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">7.08</TD>
    <TD>Transactions with Affiliates</TD>
    <TD STYLE="text-align: right">64</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">7.09</TD>
    <TD>Burdensome Agreements</TD>
    <TD STYLE="text-align: right">64</TD></TR>
</TABLE>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; text-align: center">7.10</TD>
    <TD STYLE="width: 80%">Use of Proceeds</TD>
    <TD STYLE="width: 8%; text-align: right">65</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">7.11</TD>
    <TD>Financial Covenants</TD>
    <TD STYLE="text-align: right">65</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">7.12</TD>
    <TD>Organizational Documents</TD>
    <TD STYLE="text-align: right">65</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">7.13</TD>
    <TD>Reserved</TD>
    <TD STYLE="text-align: right">65</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">7.14</TD>
    <TD>Sale Leasebacks</TD>
    <TD STYLE="text-align: right">66</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">7.15</TD>
    <TD>Prepayments of Indebtedness</TD>
    <TD STYLE="text-align: right">66</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">7.16</TD>
    <TD>Changes in Accounting</TD>
    <TD STYLE="text-align: right">66</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">ARTICLE VIII. EVENTS OF DEFAULT AND REMEDIES</TD>
    <TD STYLE="text-align: right">66</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">8.01</TD>
    <TD>Events of Default</TD>
    <TD STYLE="text-align: right">66</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">8.02</TD>
    <TD>Remedies Upon Event of Default</TD>
    <TD STYLE="text-align: right">68</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">8.03</TD>
    <TD>Application of Funds</TD>
    <TD STYLE="text-align: right">68</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">ARTICLE IX. ADMINISTRATIVE AGENT</TD>
    <TD STYLE="text-align: right">69</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">9.01</TD>
    <TD>Appointment and Authority</TD>
    <TD STYLE="text-align: right">69</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">9.02</TD>
    <TD>Rights as a Lender</TD>
    <TD STYLE="text-align: right">69</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">9.03</TD>
    <TD>Exculpatory Provisions</TD>
    <TD STYLE="text-align: right">69</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">9.04</TD>
    <TD>Reliance by Administrative Agent</TD>
    <TD STYLE="text-align: right">70</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">9.05</TD>
    <TD>Delegation of Duties</TD>
    <TD STYLE="text-align: right">70</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">9.06</TD>
    <TD>Resignation of Administrative Agent</TD>
    <TD STYLE="text-align: right">70</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">9.07</TD>
    <TD>Non-Reliance on Administrative Agent and Other Lenders</TD>
    <TD STYLE="text-align: right">71</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">9.08</TD>
    <TD>No Other Duties, Etc</TD>
    <TD STYLE="text-align: right">71</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">9.09</TD>
    <TD>Administrative Agent May File Proofs of Claim</TD>
    <TD STYLE="text-align: right">71</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">9.10</TD>
    <TD>Release from Obligations under Loan Documents</TD>
    <TD STYLE="text-align: right">72</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">ARTICLE X. MISCELLANEOUS</TD>
    <TD STYLE="text-align: right">72</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">10.01</TD>
    <TD>Amendments, Etc</TD>
    <TD STYLE="text-align: right">72</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">10.02</TD>
    <TD>Notices; Effectiveness; Electronic Communication</TD>
    <TD STYLE="text-align: right">73</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">10.03</TD>
    <TD>No Waiver; Cumulative Remedies; Enforcement</TD>
    <TD STYLE="text-align: right">74</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">10.04</TD>
    <TD>Expenses; Indemnity; Damage Waiver</TD>
    <TD STYLE="text-align: right">75</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">10.05</TD>
    <TD>Payments Set Aside</TD>
    <TD STYLE="text-align: right">76</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">10.06</TD>
    <TD>Successors and Assigns</TD>
    <TD STYLE="text-align: right">76</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">10.07</TD>
    <TD>Treatment of Certain Information; Confidentiality</TD>
    <TD STYLE="text-align: right">79</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">10.08</TD>
    <TD>Right of Setoff</TD>
    <TD STYLE="text-align: right">80</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">10.09</TD>
    <TD>Interest Rate Limitation</TD>
    <TD STYLE="text-align: right">80</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">10.10</TD>
    <TD>Counterparts; Integration; Effectiveness</TD>
    <TD STYLE="text-align: right">81</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">10.11</TD>
    <TD>Survival of Representations and Warranties</TD>
    <TD STYLE="text-align: right">81</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">10.12</TD>
    <TD>Severability</TD>
    <TD STYLE="text-align: right">81</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">10.13</TD>
    <TD>Replacement of Lenders</TD>
    <TD STYLE="text-align: right">81</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">10.14</TD>
    <TD>Governing Law; Jurisdiction; Etc</TD>
    <TD STYLE="text-align: right">82</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">10.15</TD>
    <TD>Waiver of Jury Trial</TD>
    <TD STYLE="text-align: right">82</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">10.16</TD>
    <TD>No Advisory or Fiduciary Responsibility</TD>
    <TD STYLE="text-align: right">83</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">10.17</TD>
    <TD>Electronic Execution of Assignments and Certain Other Documents</TD>
    <TD STYLE="text-align: right">83</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">10.18</TD>
    <TD>USA PATRIOT Act</TD>
    <TD STYLE="text-align: right">83</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">10.19</TD>
    <TD>Time of the Essence</TD>
    <TD STYLE="text-align: right">83</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">10.20</TD>
    <TD>ENTIRE AGREEMENT</TD>
    <TD STYLE="text-align: right">83</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">SIGNATURES</TD>
    <TD STYLE="text-align: right">S-1</TD></TR>
</TABLE>
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<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">SCHEDULES</TD>
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 8%; text-indent: 0in">1</TD>
    <TD STYLE="width: 86%; text-indent: 0in">Borrower Entities</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">2.01</TD>
    <TD STYLE="text-indent: 0in">Commitments and Applicable Percentages</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">5.05</TD>
    <TD STYLE="text-indent: 0in">Supplement to Interim Financial Statements</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">5.06</TD>
    <TD STYLE="text-indent: 0in">Litigation</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">5.09</TD>
    <TD STYLE="text-indent: 0in">Environmental Disclosure Items</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">5.12(d)</TD>
    <TD STYLE="text-indent: 0in">Pension Plan Obligations</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">5.13</TD>
    <TD STYLE="text-indent: 0in">Subsidiaries; Other Equity Investments</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">5.21</TD>
    <TD STYLE="text-indent: 0in">Unencumbered Asset Pool Properties</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">7.02(g)</TD>
    <TD STYLE="text-indent: 0in">Investments</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">7.08</TD>
    <TD STYLE="text-indent: 0in">Transactions with Affiliates</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">10.02</TD>
    <TD STYLE="text-indent: 0in">Administrative Agent&rsquo;s Office; Certain Addresses for Notices</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">10.06(b)(v)</TD>
    <TD STYLE="text-indent: 0in">Competitors of Borrower</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 24pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 24pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 24pt; text-indent: 0in">&nbsp;</TD></TR>
</TABLE>
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    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">EXHIBITS</TD>
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-weight: normal; font-style: italic"><FONT STYLE="font-weight: normal">Form of</FONT></TD>
    <TD STYLE="font-weight: normal; font-style: italic">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 8%; text-indent: 0in">A</TD>
    <TD STYLE="width: 86%; text-indent: 0in">Committed Loan Notice</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">B</TD>
    <TD STYLE="text-indent: 0in">Opinion Matters</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">C</TD>
    <TD STYLE="text-indent: 0in">Swing Line Loan Notice</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">D-1</TD>
    <TD STYLE="text-indent: 0in">Revolver Note</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">D-2</TD>
    <TD STYLE="text-indent: 0in">Term Note</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">E-1</TD>
    <TD STYLE="text-indent: 0in">Compliance Certificate</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">E-2</TD>
    <TD STYLE="text-indent: 0in">Pro Forma Compliance Certificate</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">F-1</TD>
    <TD STYLE="text-indent: 0in">Assignment and Assumption</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">F-2</TD>
    <TD STYLE="text-indent: 0in">Administrative Questionnaire</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">G</TD>
    <TD STYLE="text-indent: 0in">Joinder</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">H</TD>
    <TD STYLE="text-indent: 0in">Certificate to Accompany Request for Credit Extension</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">AMENDED AND RESTATED CREDIT AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">This AMENDED AND RESTATED
CREDIT AGREEMENT (&ldquo;<U>Agreement</U>&rdquo;) is entered into as of September 27, 2012 among <FONT STYLE="color: black">FRANKLIN
STREET PROPERTIES CORP., a Maryland corporation (&ldquo;FSP&rdquo;), together with those certain Material Subsidiaries of FSP listed
on <U>Schedule 1</U> attached hereto (as the same may be amended from time to time in accordance with the terms of this Agreement)
(individually and collectively, the &ldquo;Borrower&rdquo;) </FONT>each lender from time to time party hereto either as a result
of such party&rsquo;s execution of this Agreement as a &ldquo;Lender&rdquo; as of the date hereof or as a result of such party
being made a &ldquo;Lender&rdquo; hereunder by virtue of an executed Assignment and Assumption (collectively, the &ldquo;<U>Lenders</U>&rdquo;
and individually, a &ldquo;<U>Lender</U>&rdquo;), and BANK OF AMERICA, N.A., as Administrative Agent, Swing Line Lender and L/C
Issuer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Borrower, Bank of America, N.A., as administrative agent, and certain Lenders are parties to a Credit Agreement dated as of February
22, 2011 as amended by a First Amendment to Credit Agreement dated May 19, 2011 (the &ldquo;<U>Original Credit Agreement</U>&rdquo;),
which Original Credit Agreement provides, among other things, for revolving loans to be made by the Lenders to the Borrower and
letters of credit to be issued by the issuing lender thereunder in an aggregate principal amount not exceeding $600,000,000.00.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">B. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
parties hereto have requested that the Original Credit Agreement be amended and restated in its entirety to provide, among other
things, for revolving loans to be made in an aggregate principal amount not exceeding $500,000,000.00 and a term loan to be made
in a principal amount not exceeding $400,000,000.00.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">NOW, THEREFORE,
for good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree to amend
and restate the Original Credit Agreement in its entirety effective as of the date hereof to read as follows:</P>

<P STYLE="font: normal 10pt Times New Roman Bold; margin: 0 0 12pt; text-transform: uppercase; text-align: center; text-indent: 0in"><B>ARTICLE
I.<BR>
DEFINITIONS AND ACCOUNTING TERMS</B></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>1.01</B></FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Defined
Terms.</B> As used in this Agreement, the following terms shall have the meanings set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Adjusted
EBITDA</U>&rdquo; means, for the most recently ended fiscal quarter of FSP, EBITDA of the Consolidated Parties less Capital Reserves
for all Properties for such period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Administrative
Agent</U>&rdquo; means Bank of America in its capacity as administrative agent under any of the Loan Documents, or any successor
administrative agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Administrative
Agent<FONT STYLE="color: black">&rsquo;</FONT>s Office</U>&rdquo; means the Administrative Agent<FONT STYLE="color: black">&rsquo;</FONT>s
address and, as appropriate, account as set forth on <U>Schedule&nbsp;10.02</U>, or such other address or account as the Administrative
Agent may from time to time notify to the Borrower and the Lenders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Administrative
Questionnaire</U>&rdquo; means an Administrative Questionnaire in substantially the form of <U>Exhibit&nbsp;F-2</U> or any other
form approved by the Administrative Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Affiliate</U>&rdquo;
means, with respect to any Person, another Person that directly, or indirectly through one or more intermediaries, Controls or
is Controlled by or is under common Control with the Person specified. In no event shall Administrative Agent or any Lender be
deemed to be an Affiliate of the Borrower.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Aggregate
Commitments</U>&rdquo; means the aggregate at any one time of: (i) the Aggregate Revolver Commitments; and (ii) the Aggregate Term
Commitments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Aggregate
Revolver Commitments</U>&rdquo; means the Commitments of all the Lenders (including any Defaulting Lender) to make the Revolver
Committed Loans, as adjusted from time to time in accordance with the terms of this Agreement. The Aggregate Revolver Commitments
as of the Closing Date shall be $500,000,000. The Aggregate Revolver Commitments may increase in accordance with <U>Section 2.16</U></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Aggregate
Term Commitments</U>&rdquo; means the Commitments of all the Lenders (including any Defaulting Lender), to make the Term Loan.
The Aggregate Term Commitments as of the Closing Date shall be $400,000,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Agreement</U>&rdquo;
means this Credit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Applicable
Percentage</U>&rdquo; means (i) with respect to any Revolver Committed Loans, Swing Line Loans and L/C Obligations and determinations
made pursuant to this Agreement in respect thereof, the Applicable Revolver Percentage of any Lender and (ii) with respect to any
Term Committed Loans and determinations made pursuant to this Agreement in respect thereof, the Applicable Term Loan Percentage
of any Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Applicable
Revolver Percentage</U>&rdquo; means with respect to any Lender at any time, the percentage (carried out to the ninth decimal place)
of the Aggregate Revolver Commitments represented by such Lender&rsquo;s Revolver Commitment at such time, subject to adjustment
as provided in this Agreement, including without limitation, in <U>Section&nbsp;2.18</U>. If the commitment of each Lender to make
Revolver Committed Loans and Swing Line Loans and the obligation of the L/C Issuer to make L/C Credit Extensions have been terminated
pursuant to <U>Section&nbsp;8.02</U> or if the Aggregate Revolver Commitments have expired, then the Applicable Revolver Percentage
of each Lender shall be determined based on the Applicable Revolver Percentage of such Lender most recently in effect, giving effect
to any subsequent assignments permitted hereunder. The initial Applicable Revolver Percentage of each Lender is set forth opposite
the name of such Lender on <U>Schedule&nbsp;2.01</U> or in the Assignment and Assumption pursuant to which such Lender becomes
a party hereto, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Applicable
Term Loan Percentage</U>&rdquo; means with respect to any Lender at any time, the percentage (carried out to the ninth decimal
place) of the Aggregate Term Commitments represented by such Lender&rsquo;s Term Loan Commitment at such time, subject to adjustment
as provided in this Agreement, including without limitation, in <U>Section&nbsp;2.18</U>. If the commitment of each Lender to make
Term Committed Loans have been terminated pursuant to <U>Section&nbsp;8.02</U> or if the Aggregate Term Commitments have expired,
then the Applicable Term Loan Percentage of each Lender shall be determined based on the Applicable Term Loan Percentage of such
Lender most recently in effect, giving effect to any subsequent assignments permitted hereunder. The initial Applicable Term Loan
Percentage of each Lender is set forth opposite the name of such Lender on <U>Schedule&nbsp;2.01</U> or in the Assignment and Assumption
pursuant to which such Lender becomes a party hereto, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Applicable
Rate</U>&rdquo; means, from time to time, the following percentages per annum, based upon the Leverage Ratio as set forth in the
most recent compliance certificate received by the Administrative Agent pursuant to Section 6.02(a):</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse">
<TR STYLE="text-align: center; vertical-align: middle">
    <TD STYLE="width: 15%; border: windowtext 1pt solid; line-height: 200%; font-weight: bold; text-align: center">Level</TD>
    <TD STYLE="width: 31%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; line-height: 100%; font-weight: bold; text-align: center">Leverage Ratio</TD>
    <TD STYLE="width: 18%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; line-height: 100%; font-weight: bold; text-align: center">Eurodollar <BR> Rate Margin <BR> and Letters of <BR> Credit</TD>
    <TD STYLE="width: 18%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; line-height: 100%; font-weight: bold; text-align: center">Base Rate <BR> Margin</TD>
    <TD STYLE="width: 18%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; line-height: 100%; font-weight: bold; text-align: center">Facility Fee</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">I</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0.1in; line-height: 200%; text-align: justify"><U>&lt;</U> 25%</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">135.0 bps</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">35.0 bps</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">20.0 bps</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">II</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0.1in; line-height: 200%; text-align: justify">&gt; 25% and <U>&lt;</U> 35%</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">140.0 bps</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">40.0 bps</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">25.0 bps</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">III</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0.1in; line-height: 200%; text-align: justify">&gt; 35% and <U>&lt;</U> 45%</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">145.0 bps</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">45.0 bps</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">30.0 bps</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">IV</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0.1in; line-height: 200%; text-align: justify">&gt; 45% and <U>&lt;</U> 55%</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">165.0 bps</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">65.0 bps</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">35.0 bps</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">V</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0.1in; line-height: 200%; text-align: justify">&gt; 55% </TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">190.0 bps</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">90.0 bps</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">40.0 bps</TD></TR>
</TABLE>
<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 0 2.15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Any increase or
decrease in the Applicable Rate resulting from a change in the Leverage Ratio shall become effective as of the first Business Day
immediately following the date a Compliance Certificate is delivered pursuant to <U>Section&nbsp;6.02(b)(i)</U>; <U>provided</U>,
<U>however</U>, that if a Compliance Certificate is not delivered within ten (10) days after it was due in accordance with such
Section, then, upon the request of the Required Lenders, Pricing Level 5 shall apply as of the first Business Day after the date
on which such Compliance Certificate was required to have been delivered and shall remain in effect until the date on which such
Compliance Certificate is delivered. The Applicable Rate in effect from the Closing Date through the date of the next change in
the Applicable Rate pursuant to the preceding sentence shall be determined based upon Pricing Level 1.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">If the Borrower receives
a Credit Rating from either S&amp;P or Moody&rsquo;s, then at any time thereafter, upon written notice to the Administrative Agent,
the Borrower may irrevocably elect that at all times thereafter, the Applicable Rate and the Facility Fee with respect to the Loans
be determined based on the Borrower&rsquo;s Credit Rating pursuant to the following grid:</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 80%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 13%; border: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; font-weight: bold; text-align: center; vertical-align: middle">Level</TD>
    <TD STYLE="width: 25%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 100%; font-weight: bold; text-align: center; vertical-align: middle">Credit Rating</TD>
    <TD STYLE="width: 24%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 100%; font-weight: bold; text-align: center; vertical-align: middle">Eurodollar Rate <BR> Margin and<BR> &nbsp;Letters of Credit</TD>
    <TD STYLE="width: 19%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 100%; font-weight: bold; text-align: center; vertical-align: middle">Base Rate<BR> &nbsp;Margin</TD>
    <TD STYLE="width: 19%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 100%; font-weight: bold; text-align: center; vertical-align: middle">Facility Fee</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">I</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">A-/A3 (or higher)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">100.0 bps</TD>
    <TD STYLE="vertical-align: top; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">0.0 bps</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">15.0 bps</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">II</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">BBB+/Baa1</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">105.0 bps</TD>
    <TD STYLE="vertical-align: top; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">5.0 bps</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">20.0 bps</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">III</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">BBB/Baa2</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">120.0 bps</TD>
    <TD STYLE="vertical-align: top; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">20.0 bps</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">25.0 bps</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">IV</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">BBB-/Baa3</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">145.0 bps</TD>
    <TD STYLE="vertical-align: top; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">45.00 bps</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">30.0 bps</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">V</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">&lt;BBB-/Baa3</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">185.0 bps</TD>
    <TD STYLE="vertical-align: top; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">85.0bps</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 3pt; padding-bottom: 3pt; line-height: 200%; text-align: center">40.0 bps</TD></TR>
</TABLE>
<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 0 2.15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">During any period
that the Borrower has two Credit Ratings that are not equivalent, then the Applicable Rate and the Facility Fee will be determined
based on the higher rating. During any period that the Borrower only has one Credit Rating, then the Applicable Rate and the Facility
Fee will be determined based on that Credit Rating. During any period after the Borrower&rsquo;s election described in the preceding
paragraph, that the Borrower has no Credit Rating, then Applicable Rate and the Facility Fee will be determined based on Level
V of the grid immediately above. Any change in the Borrower&rsquo;s Credit Rating which would cause it to move to a different Level
shall be effective as of the first day of the first calendar month immediately following such change.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Notwithstanding
anything to the contrary contained in this definition, the determination of the Applicable Rate for any period shall be subject
to the provisions of Section 2.11(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Approved
Fund</U>&rdquo; means any Fund that is administered or managed by (a)&nbsp;a Lender, (b)&nbsp;an Affiliate of a Lender or (c)&nbsp;an
entity or an Affiliate of an entity that administers or manages a Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Arranger</U>&rdquo;
means MLPF&amp;S in its capacity as sole bookrunner and sole lead arranger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Assignee
Group</U>&rdquo; means two or more Eligible Assignees that are Affiliates of one another or two or more Approved Funds managed
by the same investment advisor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Assignment
and Assumption</U>&rdquo; means an assignment and assumption entered into by a Lender and an assignee (with the consent of any
party whose consent is required by <U>Section&nbsp;10.06(b)</U>), and accepted by the Administrative Agent, in substantially the
form of <U>Exhibit&nbsp;F-1</U> or any other form approved by the Administrative Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Attributable
Indebtedness</U>&rdquo; means, on any date, (a) in respect of any capital lease of any Person, the capitalized amount thereof that
would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP, and (b) in respect of any Synthetic
Lease Obligation, the capitalized amount of the remaining lease payments under the relevant lease that would appear on a balance
sheet of such Person prepared as of such date in accordance with GAAP if such lease were accounted for as a capital lease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Audited
Financial Statements</U>&rdquo; means the audited consolidated balance sheet of the Borrower and their Subsidiaries for the fiscal
year ended December 31, 2011 and the related consolidated statements of income or operations, shareholders&rsquo; equity and cash
flows for such fiscal year of the Borrower and their Subsidiaries, including the notes thereto.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Availability
Period</U>&rdquo; means the period from and including the Closing Date to the earliest of (a)&nbsp;the Revolver Maturity Date,
(b)&nbsp;the date of termination of the Aggregate Revolver Commitments pursuant to <U>Section&nbsp;2.07</U>, and (c)&nbsp;the date
of termination of the commitment of each Lender to make Revolving Loans and of the obligation of the L/C Issuer to make L/C Credit
Extensions pursuant to <U>Section&nbsp;8.02</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Bank of
America</U>&rdquo; means Bank of America, N.A. and its successors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Base Rate</U>&rdquo;
means for any day a fluctuating rate per annum equal to the highest of (a)&nbsp;the rate of interest in effect for such day as
publicly announced from time to time by the Administrative Agent as its &ldquo;prime rate&rdquo;, (b)&nbsp;the Federal Funds Rate
plus 1/2 of 1% (0.50%), and (c)&nbsp;the Eurodollar Rate for a one-month Interest Period plus 1.00%. The &ldquo;prime rate&rdquo;
is a rate set by the Administrative Agent based upon various factors including the Administrative Agent&rsquo;s costs and desired
return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced
at, above, or below such announced rate. Any change in such prime rate announced by the Administrative Agent shall take effect
at the opening of business on the day specified in the public announcement of such change.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Base Rate
Committed Loan</U>&rdquo; means a Committed Loan that bears interest based on the Base Rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Borrower</U>&rdquo;
has the meaning specified in the introductory paragraph hereto. Sponsored REITs and Excluded Subsidiaries shall not be Borrowers.
Each entity comprising the Borrower as of the Closing Date is as described on <U>Schedule 1</U> and organized under the laws of
the states noted therein. The term &ldquo;Borrower&rdquo; and <U>Schedule 1</U> shall be deemed updated with respect to any Persons
becoming borrowers pursuant to <U>Section 6.12(a) </U>and each Person released pursuant to Section 6.12(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Borrower
Materials</U>&rdquo; has the meaning specified in <U>Section&nbsp;6.02</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Borrowing</U>&rdquo;
means a Committed Borrowing or a Swing Line Borrowing, as the context may require.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Business
Day</U>&rdquo; means any day other than a Saturday, Sunday or other day on which commercial banks are authorized to close under
the Laws of, or are in fact closed in, the state where the Administrative Agent&rsquo;s Office is located and, if such day relates
to any Eurodollar Rate Committed Loan, means any such day that is also a London Banking Day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Capitalization
Rate</U>&rdquo; means eight percent (8.0%).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Capital
Reserve</U>&rdquo; means for any period and with respect to a Property, an amount equal to the product of (i)&nbsp;the gross leaseable
area contained in such Property (in square feet), multiplied by (ii)&nbsp;$0.30 per annum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Cash Collateralize</U>&rdquo;
means to pledge and deposit with or deliver to the Administrative Agent, for the benefit of the Administrative Agent, L/C Issuer
or Swing Line Lender (as applicable) and the Lenders, as collateral for L/C Obligations, Obligations in respect of Swing Line Loans,
or obligations of Lenders to fund participations in respect of either thereof (as the context may require), cash or deposit account
balances or, if the L/C Issuer or Swing Line Lender benefitting from such collateral shall agree in its sole discretion, other
credit support, in each case pursuant to documentation in form and substance satisfactory to (a)&nbsp;the Administrative Agent
and (b)&nbsp;the L/C Issuer or the Swing Line Lender (as applicable). &ldquo;<U>Cash Collateral</U>&rdquo; shall have a meaning
correlative to the foregoing and shall include the proceeds of such cash collateral and other credit support.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.15pt">&ldquo;<U>Cash
Equivalents</U>&rdquo; means (a)&nbsp;securities issued or directly and fully guaranteed or insured by the United States of America
or any agency or instrumentality thereof (provided that the full faith and credit of the United States of America is pledged in
support thereof) having maturities of not more than twelve (12) months from the date of acquisition, (b)&nbsp;U.S. dollar denominated
time deposits and certificates of deposit of (i)&nbsp;any Lender, (ii)&nbsp;any domestic commercial bank of recognized standing
having capital and surplus in excess of $500,000,000 or (iii)&nbsp;any bank whose short-term commercial paper rating from S&amp;P
is at least A-2 or the equivalent thereof or from Moody&rsquo;s is at least P-2 or the equivalent thereof (any such bank being
an &ldquo;<U>Approved Bank</U>&rdquo;), in each case with maturities of not more than two (2) years from the date of acquisition,
(c)&nbsp;commercial paper and variable or fixed rate notes issued by any Approved Bank</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0"><FONT STYLE="letter-spacing: -0.15pt">(or
by the parent company thereof) or any variable rate commercial paper or notes issued by, or guaranteed by, any domestic corporation
rated A-2 (or the equivalent thereof) or better by S&amp;P or P-2 (or the equivalent thereof) or better by Moody&rsquo;s and maturing
within one (1) year of the date of acquisition, (d)&nbsp;repurchase agreements with a bank or trust company (including any of the
Lenders) or recognized securities dealer having capital and surplus in excess of $500,000,000 for direct obligations issued by
or fully guaranteed by the United States of America in which any Borrower shall have a perfected first priority security interest
(subject to no other Liens) and having, on the date of purchase thereof, a fair market value of at least 100% of the amount of
the repurchase obligations and (e)&nbsp;Investments, classified in accordance with GAAP as current assets, in money market investment
programs registered under the Investment Company Act of 1940, as amended, which are administered by reputable financial institutions
having capital of at least $50,000,000 and the portfolios of which invest principally in Investments of the character described
in the foregoing subdivisions (a) through (d).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Certificate
to Accompany Request for Credit Extension</U>&rdquo; means a certificate substantially in the form of <U>Exhibit&nbsp;H</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Change
in Law</U>&rdquo; means the occurrence, after the date of this Agreement, of any of the following: (a) the adoption or taking effect
of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, promulgation,
implementation, interpretation or application thereof by any Governmental Authority or (c) the making or issuance of any request,
guideline or directive (whether or not having the force of law) by any Governmental Authority (including, without limitation, all
requests, rules, guidelines or directives in connection with Dodd-Frank Wall Street Reform and Consumer Protection Act regardless
of the date enacted, adopted or issued). Notwithstanding the foregoing, for purposes of this Agreement, all requests, rules, guidelines
or directives in connection with the Dodd-Frank Wall Street Reform and Consumer Protection Act shall be deemed to be a Change in
Law regardless of the date enacted, adopted, implemented or issued and all requests, rules, guidelines or directives promulgated
by the Bank for International Settlements, the Basel Committee on Banking Regulations and Supervisory Practices (or any successor
or similar authority) or the United States financial regulatory authorities shall be deemed to be a Change in Law regardless of
the date adopted, issued, promulgated or implemented.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Change
of Control</U>&rdquo; means: (a) an event or series of related events by which any &ldquo;person&rdquo; or &ldquo;group&rdquo;
(as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, but excluding any employee benefit
plan of such person or its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or
administrator of any such plan) becomes the &ldquo;beneficial owner&rdquo; (as defined in Rules 13d-3 and 13d-5 under the Securities
Exchange Act of 1934, except that a person or group shall be deemed to have &ldquo;beneficial ownership&rdquo; of all securities
that such person or group has the right to acquire, whether such right is exercisable immediately or only after the passage of
time (such right, an &ldquo;<U>option right</U>&rdquo;)), directly or indirectly, of 30% or more of the equity securities of FSP
entitled to vote for members of the board of directors or equivalent governing body of FSP on a fully-diluted basis (and taking
into account all such securities that such person or group has the right to acquire pursuant to any option right); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(b) an event or
series of events by which during any period of twelve (12) consecutive months, a majority of the members of the board of directors
or other equivalent governing body of FSP cease to be composed of individuals (i) who were members of that board or equivalent
governing body on the first day of such period, (ii) whose election or nomination to that board or equivalent governing body was
approved by individuals referred to in clause&nbsp;(i) above constituting at the time of such election or nomination at least a
majority of that board or equivalent governing body or (iii) whose election or nomination to that board or other equivalent governing
body was approved by individuals referred to in clauses (i) and (ii) above constituting at the time of such election or nomination
at least a majority of the board or equivalent governing body (excluding, in the case of both clause (ii) and clause (iii), any
individual whose initial nomination for, or assumption of office as, a member of that board or equivalent governing body occurs
as a result of an actual or threatened solicitation of proxies or consents for the election or removal of one or more directors
by any person or group other than a solicitation for the election of one or more directors by or on behalf of the board of directors).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Closing
Date</U>&rdquo; means the first date all the conditions precedent in <U>Section&nbsp;4.01</U> are satisfied or waived in accordance
with <U>Section&nbsp;10.01</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Code</U>&rdquo;
means the Internal Revenue Code of 1986, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Commitment</U>&rdquo;
means, as to each Lender, its obligation to (a)&nbsp;make Revolver Committed Loans and a Term Committed Loan to the Borrower pursuant
to <U>Section&nbsp;2.01</U> and <U>Section 2.16</U>, (b)&nbsp;purchase participations in L/C Obligations, and (c)&nbsp;purchase
participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth
opposite such Lender<FONT STYLE="color: black">&rsquo;</FONT>s name on <U>Schedule&nbsp;2.01</U> or in the Assignment and Assumption
pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance
with this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Committed
Borrowing</U>&rdquo; means a borrowing consisting of a Revolver Committed Loan or a Term Committed Loan and, in the case of Eurodollar
Rate Committed Loans, having the same Interest Period made by each of the Lenders pursuant to <U>Section&nbsp;2.01</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Committed
Loan</U>&rdquo; or &ldquo;<U>Committed Loans</U>&rdquo; means the Revolver Committed Loan and the Term Committed Loan made by the
Lenders to the Borrower pursuant to this Agreement, as the context so requires.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Committed
Loan Notice</U>&rdquo; means a notice of (a)&nbsp;a Committed Borrowing, (b)&nbsp;a conversion of Committed Loans from one Type
to the other, or (c)&nbsp;a continuation of Eurodollar Rate Committed Loans, pursuant to <U>Section&nbsp;2.02(a)</U>, which, if
in writing, shall be substantially in the form of <U>Exhibit&nbsp;A</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Compliance
Certificate</U>&rdquo; means a certificate substantially in the form of <U>Exhibit&nbsp;E-1</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.15pt">&ldquo;<U>Consolidated
Parties</U>&rdquo; means a collective reference to FSP and its consolidated Subsidiaries, as determined in accordance with GAAP;
and &ldquo;Consolidated Party&rdquo; means any one of them. Sponsored REITS shall be deemed not included as Consolidated Parties
under this Agreement and the Loan Documents.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Contractual
Obligation</U>&rdquo; means, as to any Person, any material provision of any material security issued by such Person or of any
material agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Control</U>&rdquo;
means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a
Person, whether through the ability to exercise voting power, by contract or otherwise. &ldquo;<U>Controlling</U>&rdquo; and &ldquo;<U>Controlled</U>&rdquo;
have meanings correlative thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Credit
Extension</U>&rdquo; means each of the following: (a)&nbsp;a Borrowing and (b)&nbsp;an L/C Credit Extension.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Credit
Rating</U>&rdquo; means the rating assigned by a Rating Agency to the senior unsecured long term Indebtedness of a Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Debtor
Relief Laws</U>&rdquo; means the Bankruptcy Code of the United States, and all other liquidation, conservatorship, bankruptcy,
assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor
relief Laws of the United States or other applicable jurisdictions from time to time in effect and affecting the rights of creditors
generally.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Default</U>&rdquo;
means any event or condition that with the giving of any notice, the passage of time, or both, would be an Event of Default.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Default
Rate</U>&rdquo; means (a)&nbsp;when used with respect to Obligations other than Letter of Credit Fees, an interest rate equal to
(i)&nbsp;the Base Rate <U>plus</U> (ii)&nbsp;the Applicable Rate, if any, applicable to Base Rate Committed Loans <U>plus</U> (iii)&nbsp;2%
per annum; <U>provided</U>, <U>however</U>, that with respect to a Eurodollar Rate Committed Loan, the Default Rate shall be an
interest rate equal to the interest rate (including any Applicable Rate) otherwise applicable to such Loan plus 2% per annum, and
(b)&nbsp;when used with respect to Letter of Credit Fees, a rate equal to the Applicable Rate plus 2% per annum.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Defaulting
Lender</U>&rdquo; means, subject to <U>Section&nbsp;2.18(b)</U>, any Lender that, as determined by the Administrative Agent, (a)&nbsp;has
failed to perform any of its funding obligations hereunder, including in respect of its Loans or participations in respect of Letters
of Credit or Swing Line Loans, within three Business Days of the date required to be funded by it hereunder unless such Lender
notifies the Administrative Agent or the Borrower in writing that such failure is the result of such Lender&rsquo;s determination
that one or more conditions precedent to funding set forth in <U>Section 4.02</U> (each of which conditions precedent, together
with any applicable default, shall be specifically identified in writing) has not been satisfied, (b)&nbsp;has notified the Borrower
or the Administrative Agent in writing that it does not intend to comply with its funding obligations (unless such writing states
that such position is based on such Lender&rsquo;s determination that a condition precedent to funding in <U>Section 4.02</U> (which
condition precedent, together with any applicable default, shall be specifically identified in such writing) cannot be satisfied),
(c)&nbsp;has failed, within three Business Days after request by the Administrative Agent, to confirm in a manner satisfactory
to the Administrative Agent that it will comply with its funding obligations, or (d)&nbsp;has, or has a direct or indirect parent
company that has, (i)&nbsp;become the subject of a proceeding under any Debtor Relief Law, (ii)&nbsp;had a receiver, conservator,
trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its
business or a custodian appointed for it, or (iii)&nbsp;taken any action in furtherance of, or indicated its consent to, approval
of or acquiescence in any such proceeding or appointment; provided that a Lender shall not be a Defaulting Lender solely by virtue
of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a Governmental
Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Disposition</U>&rdquo;
or &ldquo;<U>Dispose</U>&rdquo; means the sale, transfer, license, lease (including any ground lease) or other disposition (including
any sale and leaseback transaction but excluding any real estate space lease made in a property by a Person in the normal course
of such Person&rsquo;s business operations) of any property by any Person, including any sale, assignment, transfer or other disposal,
with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith. For the avoidance
of doubt, any assignment or other disposition for collateral or security purposes shall not constitute a Disposition under this
Agreement and the other Loan Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Documentation
Agent</U>&rdquo; means Compass Bank and PNC Bank, National Association., each in its capacity as documentation agent, or any successor
documentation agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Dollar</U>&rdquo;
and &ldquo;<U>$</U>&rdquo; mean lawful money of the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>EBITDA</U>&rdquo;
means for the Consolidated Parties, for the most recently ended fiscal quarter of FSP, without duplication, the sum of (a) net
income of the Consolidated Parties, in each case, excluding any non recurring or extraordinary gains and losses for such period
(but including syndication fees), plus (b) any amount which, in the determination of net income for such period pursuant to clause
(a) above, has been deducted for or in connection with (i) Interest Expense (plus, amortization of deferred financing costs, to
the extent included in the determination of Interest Expense under GAAP), (ii) income taxes, and (iii) depreciation and amortization,
all determined in accordance with GAAP for such period plus (c) the Consolidated Parties&rsquo; Equity Percentage of the above
attributable to Unconsolidated Affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Eligible
Assignee</U>&rdquo; means any Person that meets the requirements to be an assignee under <U>Section&nbsp;10.06(b)(iii)</U>, and
<U>(v)</U> (subject to such consents, if any, as may be required under <U>Section 10.06(b)(iii)</U>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Environmental
Complaint</U>&rdquo; means any complaint, order, demand, citation or notice threatened or issued in writing to any Consolidated
Party by any Governmental Authority with regard to Releases or noise emissions in violation of Environmental Laws or any other
alleged violation of Environmental Laws affecting any Consolidated Party or any of their respective Properties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Environmental
Laws</U>&rdquo; means any and all federal, state and local statutes, laws, regulations, ordinances, governmental restrictions,
rules and judgments, orders or decrees of any Governmental Authority with jurisdiction over the Property of a Consolidated Party
relating to pollution and the protection of the environment from contamination by, or the release of any materials into the environment,
including those related to hazardous substances or wastes, air emissions and discharges to waste or public systems.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Environmental
Liability</U>&rdquo; means any liability, contingent or otherwise (including any liability for damages, costs of environmental
remediation, fines, penalties or indemnities), of any Consolidated Party directly or indirectly resulting from or based upon (a)&nbsp;violation
of any Environmental Law, (b)&nbsp;the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous
Materials on or from the Property of a Consolidated Party, or (c)&nbsp;the release or threatened release of any Hazardous Materials
into the environment from a Property of a Consolidated Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Equity
Interests</U>&rdquo; means, with respect to any Person, all of the shares of capital stock of (or other ownership or profit interests
in) such Person, all of the warrants, options or other rights for the purchase or acquisition from such Person of shares of capital
stock of (or other ownership or profit interests in) such Person, all of the securities convertible into or exchangeable for shares
of capital stock of (or other ownership or profit interests in) such Person or warrants, rights or options for the purchase or
acquisition from such Person of such shares (or such other interests), and all of the other ownership or profit interests in such
Person (including partnership, member or trust interests therein), whether voting or nonvoting, and whether or not such shares,
warrants, options, rights or other interests are outstanding on any date of determination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Equity
Percentage</U>&rdquo; means, with respect to any Person, the aggregate ownership percentage of such Person in each Unconsolidated
Affiliate, which shall be calculated as follows: (a)&nbsp;for calculation of Indebtedness or liabilities, such Person&rsquo;s nominal
capital ownership interest in the Unconsolidated Affiliate as set forth in the Unconsolidated Affiliate&rsquo;s organizational
documents, or, if greater, the amount or percentage of such items allocated to such Person, or for which such Person is directly
or indirectly responsible, pursuant to the terms of the applicable joint venture agreement (or similar governing agreement) or
applicable law and (b)&nbsp;for all other purposes, the greater of (i)&nbsp;such Person&rsquo;s nominal capital ownership interest
in the Unconsolidated Affiliate as set forth in the Unconsolidated Affiliate&rsquo;s organizational documents, and (ii)&nbsp;such
Person&rsquo;s economic ownership interest in the Unconsolidated Affiliate, reflecting such Person&rsquo;s share of income and
expenses of the Unconsolidated Affiliate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>ERISA</U>&rdquo;
means the Employee Retirement Income Security Act of 1974.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>ERISA
Affiliate</U>&rdquo; means any trade or business (whether or not incorporated) under common control with the Borrower within the
meaning of Section&nbsp;414(b) or (c) of the Code (and Sections&nbsp;414(m) and (o) of the Code for purposes of provisions relating
to Section&nbsp;412 of the Code).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>ERISA
Event</U>&rdquo; means (a)&nbsp;a Reportable Event with respect to a Pension Plan; (b)&nbsp;the withdrawal of the Borrower or any
ERISA Affiliate from a Pension Plan subject to Section&nbsp;4063 of ERISA during a plan year in which such entity was a &ldquo;substantial
employer&rdquo; as defined in Section&nbsp;4001(a)(2) of ERISA or a cessation of operations that is treated as such a withdrawal
under Section&nbsp;4062(e) of ERISA; (c)&nbsp;a complete or partial withdrawal by the Borrower or any ERISA Affiliate from a Multiemployer
Plan or notification that a Multiemployer Plan is in reorganization; (d)&nbsp;the filing of a notice of intent to terminate, the
treatment of a Pension Plan amendment as a termination under Section&nbsp;4041 or 4041A of ERISA; (e)&nbsp;the institution by the
PBGC of proceedings to terminate a Pension Plan; (f)&nbsp;any event or condition which constitutes grounds under Section&nbsp;4042
of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan; (g)&nbsp;the determination that
any Pension Plan is considered an at-risk plan or a plan in endangered or critical status within the meaning of Sections&nbsp;430,
431 and 432 of the Code or Sections&nbsp;303, 304 and 305 of ERISA; or (h)&nbsp;the imposition of any liability under Title&nbsp;IV
of ERISA, other than for PBGC premiums due but not delinquent under Section&nbsp;4007 of ERISA, upon the Borrower or any ERISA
Affiliate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Eurodollar
Base Rate</U>&rdquo; has the meaning specified in the definition of Eurodollar Rate.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Eurodollar
Rate</U>&rdquo; means for any Interest Period with respect to a Eurodollar Rate Committed Loan, a rate per annum determined by
the Administrative Agent pursuant to the following formula:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; text-align: center">Eurodollar Rate&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: center">=</TD>
    <TD STYLE="width: 26%; text-align: center; border-bottom: Black 1pt solid">Eurodollar Base Rate</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">1.00 &ndash; Eurodollar Reserve Percentage</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in">Where,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">&ldquo;<U>Eurodollar
Base Rate</U>&rdquo; means: (a) for such Interest Period, the rate per annum equal to the British Bankers Association LIBOR Rate
(&ldquo;<U>BBA LIBOR</U>&rdquo;), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR
as designated by the Administrative Agent from time to time) at approximately 11:00 a.m., London time, two London Banking Days
prior to the commencement of such Interest Period, for Dollar deposits (for delivery on the first day of such Interest Period)
with a term equivalent to such Interest Period. If such rate is not available at such time for any reason, then the &ldquo;Eurodollar
Base Rate&rdquo; for such Interest Period shall be the rate per annum determined by the Administrative Agent to be the rate at
which deposits in Dollars for delivery on the first day of such Interest Period in same day funds in the approximate amount of
the Eurodollar Rate Committed Loan being made, continued or converted by the Administrative Agent and with a term equivalent to
such Interest Period would be offered by the Administrative Agent&rsquo;s London Branch to major banks in the London interbank
eurodollar market at their request at approximately 11:00 a.m. (London time) two London Banking Days prior to the commencement
of such Interest Period; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(b) for any
interest calculation with respect to a Base Rate Committed Loan on any date, the rate per annum equal to (i)&nbsp;BBA LIBOR, at
approximately 11:00 a.m., London time determined two London Banking Days prior to such date for Dollar deposits being delivered
in the London interbank market for a term of one month commencing that day or (ii)&nbsp;if such published rate is not available
at such time for any reason, the rate per annum determined by the Administrative Agent to be the rate at which deposits in Dollars
for delivery on the date of determination in same day funds in the approximate amount of the Base Rate Committed Loan being made
or maintained and with a term equal to one month would be offered by the Administrative Agent&rsquo;s London Branch (or if the
Administrative Agent has no London Branch, then the London Branch of any major US national banking association reasonably selected
by the Administrative Agent) to major banks in the London interbank Eurodollar market at their request at the date and time of
determination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">&ldquo;<U>Eurodollar
Reserve Percentage</U>&rdquo; means, for any day during any Interest Period, the reserve percentage (expressed as a decimal, carried
out to five decimal places) in effect on such day, whether or not applicable to any Lender, under regulations issued from time
to time by the FRB for determining the maximum reserve requirement (including any emergency, supplemental or other marginal reserve
requirement) with respect to Eurocurrency funding (currently referred to as &ldquo;Eurocurrency liabilities&rdquo;). The Eurodollar
Rate for each outstanding Eurodollar Rate Committed Loan shall be adjusted automatically as of the effective date of any change
in the Eurodollar Reserve Percentage.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Eurodollar
Rate Committed Loan</U>&rdquo; means a Committed Loan that bears interest based on clause (a) of the definition of Eurodollar Base
Rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Event
of Default</U>&rdquo; has the meaning specified in <U>Section&nbsp;8.01</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Excluded
Commitment</U>&rdquo; has the meaning specified in <U>Section 2.15(b)(iii)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Excluded
Subsidiary</U>&rdquo; means, as of any date of determination, (a) any Subsidiary that is not a Wholly-Owned Subsidiary of the Borrower,
(b) any Subsidiary that is an Immaterial Subsidiary, and (c) any Material Subsidiary (i) holding title to assets which are collateral
for any Secured Indebtedness of such Subsidiary or which is a Subsidiary that is a single asset entity and has incurred or assumed
Nonrecourse Indebtedness; and (ii) which is prohibited from guarantying or otherwise being liable for the Indebtedness of any other
person pursuant to (x) any document, instrument or agreement evidencing such Secured Indebtedness or Nonrecourse Indebtedness or
(y) a provision of such Subsidiary&rsquo;s organizational documents which provision was included in such Subsidiary&rsquo;s organizational
documents as a condition to the extension of such Secured Indebtedness or Nonrecourse Indebtedness; provided, that a Material Subsidiary
shall not be released from its obligations as an obligor of the Obligations by virtue of being an Excluded Subsidiary unless Borrower
complies with the provisions of <U>Section 6.12(b)</U> of this Agreement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Excluded
Taxes</U>&rdquo; means, with respect to the Administrative Agent, any Lender, the L/C Issuer or any other recipient of any payment
to be made by or on account of any obligation of the Borrower hereunder, (a)&nbsp;Taxes imposed on or measured by its overall net
income (however denominated), and franchise Taxes imposed on it (in addition to or in lieu of net income Taxes), by the jurisdiction
(or any political subdivision thereof) under the Laws of which such recipient is organized or in which its principal office is
located or, in the case of any Lender, in which its applicable Lending Office is located or by any jurisdiction as a result of
a present or former connection between such recipient and the jurisdiction imposing such Tax (or any political subdivision thereof),
other than any such connection arising solely from such recipient having executed, delivered or performed its obligations or received
a payment under, or enforced, this Agreement or any other Loan Document, (b)&nbsp;any branch profits Taxes imposed by the United
States or any similar Tax imposed by any other jurisdiction in which the Borrower is located, (c)&nbsp;any backup withholding Tax
that is required by the Code to be withheld from amounts payable to a Lender that has failed to comply with <U>Section&nbsp;3.01(e)</U>,
(d)&nbsp;in the case of a Foreign Lender (other than an assignee pursuant to a request by the Borrower under <U>Section&nbsp;10.13</U>),
any withholding Tax that (i)&nbsp;is required to be imposed on amounts payable to such Foreign Lender pursuant to the Laws in force
at the time such Foreign Lender becomes a party hereto (or designates a new Lending Office) or (ii)&nbsp;is attributable to such
Foreign Lender&rsquo;s failure or inability (other than as a result of a Change in Law) to comply with <U>Section&nbsp;3.01(e)</U>,
except to the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation of a new Lending
Office (or assignment), to receive additional amounts from the Borrower with respect to such withholding Tax pursuant to <U>Section&nbsp;3.01(a)(ii)
or (c)</U> and (e) any Taxes imposed under FATCA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>FASB ASC</U>&rdquo;
means the Accounting Standards Codification of the Financial Accounting Standards Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>FATCA</U>&rdquo;
means Sections 1471 through 1474 of the Code and any regulations or official interpretations thereof (including any revenue ruling,
revenue procedure, notice or similar guidance issued by the IRS or the United States Treasury thereunder as a precondition to relief
or exemption from Taxes under such provisions).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Federal
Funds Rate</U>&rdquo; means, for any day, the rate per annum equal to the weighted average of the rates on overnight federal funds
transactions with members of the Federal Reserve System arranged by federal funds brokers on such day, as published by the Federal
Reserve Bank of New York on the Business Day next succeeding such day; provided that (a)&nbsp;if such day is not a Business Day,
the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published
on the next succeeding Business Day, and (b)&nbsp;if no such rate is so published on such next succeeding Business Day, the Federal
Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to
the Administrative Agent on such day on such transactions as determined by the Administrative Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Fee Letter</U>&rdquo;
means the letter agreement, dated August 24, 2012, among Borrower, Administrative Agent and Arranger as amended or supplemented
from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Financeable
Ground Lease</U>&rdquo; means, a ground lease that provides protections for a potential leasehold mortgagee (&ldquo;Mortgagee&rdquo;)
which include, among other things (a) a remaining term, including any optional extension terms exercisable unilaterally by the
tenant, of no less than twenty-five (25) years from the Closing Date, (b) that the ground lease will not be terminated until the
Mortgagee has received notice of a default, has had a reasonable opportunity to cure or complete foreclosure, and has failed to
do so, (c) provision for a new lease on the same terms to the Mortgagee as tenant if the ground lease is terminated for any reason
or other protective provisions reasonably acceptable to Administrative Agent, (d) non-merger of the fee and leasehold estates,
(e) transferability of the tenant&rsquo;s interest under the ground lease without any requirement for consent of the ground lessor
unless based on reasonable objective criteria as to the creditworthiness or line of business of the transferee or delivery of customary
assignment and assumption agreements from the transferor and transferee, and (f) that insurance proceeds and condemnation awards
from the leasehold interest will be applied pursuant to the terms of the applicable leasehold mortgage.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Fixed
Charges</U>&rdquo; means, for the Consolidated Parties, for the most recently ended fiscal quarter of FSP, without duplication,
the sum of (a) Interest Expense, plus (b) scheduled principal payments on Indebtedness, exclusive of (i) any voluntary prepayments
made by a Consolidated Party and (ii) balloon, bullet or similar principal payments which repay Indebtedness in full, plus (c)
Preferred Dividends paid during such period, if any, plus the Consolidated Parties&rsquo; Equity Percentage of the above clauses
(a) and (b) for Unconsolidated Affiliates.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Foreign
Lender</U>&rdquo; means any Lender that is organized under the Laws of a jurisdiction other than that in which the Borrower is
resident for tax purposes (including such a Lender when acting in the capacity of the L/C Issuer) or any other Lender that is not
a &ldquo;United States Person&rdquo; within the meaning of Section 7701(a)(30) of the Code. For purposes of this definition, the
United States, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>FRB</U>&rdquo;
means the Board of Governors of the Federal Reserve System of the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Fronting
Exposure</U>&rdquo; means, at any time when there is a Defaulting Lender, (a)&nbsp;with respect to the L/C Issuer, such Defaulting
Lender&rsquo;s Applicable Revolver Percentage of the outstanding L/C Obligations other than L/C Obligations as to which such Defaulting
Lender&rsquo;s participation obligation has been reallocated to other Lenders or Cash Collateralized in accordance with the terms
hereof, and (b)&nbsp;with respect to the Swing Line Lender, such Defaulting Lender&rsquo;s Applicable Revolver Percentage of Swing
Line Loans other than Swing Line Loans as to which such Defaulting Lender&rsquo;s participation obligation has been reallocated
to other Lenders or Cash Collateralized in accordance with the terms hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Fully
Satisfied</U>&rdquo; means, with respect to the Obligations as of any date, that, as of such date, (a)&nbsp;all principal of and
interest accrued to such date which constitute Obligations shall have been paid in full in cash, and (b)&nbsp;all fees, expenses
and other amounts then due and payable which constitute Obligations shall have been paid in cash.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Fund</U>&rdquo;
means any Person (other than a natural person) that is (or will be) engaged in making, purchasing, holding or otherwise investing
in commercial loans and similar extensions of credit in the ordinary course of its activities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>GAAP</U>&rdquo;
means generally accepted accounting principles in the United States set forth in the opinions and pronouncements of the Accounting
Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial
Accounting Standards Board or such other principles as may be approved by a significant segment of the accounting profession in
the United States, that are applicable to the circumstances as of the date of determination, consistently applied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Governmental
Authority</U>&rdquo; means the government of the United States or any other nation, or of any political subdivision thereof, whether
state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive,
legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including any supra-national
bodies such as the European Union or the European Central Bank).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Guarantee</U>&rdquo;
means, as to any Person, (a)&nbsp;any obligation, contingent or otherwise, of such Person guaranteeing or having the economic effect
of guaranteeing any Indebtedness of another Person (the &ldquo;<U>primary obligor</U>&rdquo;) in any manner, whether directly or
indirectly, and including any obligation of such Person, direct or indirect, (i)&nbsp;to purchase or pay (or advance or supply
funds for the purchase or payment of) such Indebtedness, (ii)&nbsp;to purchase or lease property, securities or services for the
purpose of assuring the obligee in respect of such Indebtedness or the payment or performance of such Indebtedness, (iii)&nbsp;to
maintain working capital, equity capital or any other financial statement condition or liquidity or level of income or cash flow
of the primary obligor so as to enable the primary obligor to pay such Indebtedness, or (iv)&nbsp;entered into for the purpose
of assuring in any other manner the obligee in respect of such Indebtedness the payment or performance thereof or to protect such
obligee against loss in respect thereof (in whole or in part), or (b)&nbsp;any Lien on any assets of such Person securing any Indebtedness
of any other Person, whether or not such Indebtedness is assumed by such Person (or any right, contingent or otherwise, of any
holder of such Indebtedness to obtain any such Lien). The amount of any Guarantee shall be deemed to be an amount equal to the
stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such Guarantee is made
or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by the guaranteeing
Person in good faith. The term &ldquo;<U>Guarantee</U>&rdquo; as a verb has a corresponding meaning.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Hazardous
Materials</U>&rdquo; means all explosive or radioactive substances or wastes and all hazardous or toxic substances, wastes or other
pollutants, including petroleum or petroleum distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls,
radon gas, infectious or medical wastes and all other similar substances or wastes of any nature regulated pursuant to any Environmental
Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Immaterial
Subsidiary</U>&rdquo; means as of any date of determination, any Subsidiary holding assets (excluding earnest money deposits for
the purchase of real estate) which contribute less than $100,000 to Total Asset Value. Any Subsidiary formed for the purpose of
purchasing real estate shall be deemed to be an Immaterial Subsidiary prior to purchase of such real estate and regardless of the
amount of any earnest money deposit funded in connection therewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Indebtedness</U>&rdquo;
<FONT STYLE="color: black">means, without duplication, all obligations of the following types:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&#9;all
obligations for borrowed money and all obligations evidenced by bonds, debentures, notes, loan agreements or other similar instruments;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&#9;all
direct or contingent obligations under letters of credit (including standby and commercial), bankers&rsquo; acceptances and similar
instruments (including bank guaranties, surety bonds, comfort letters, keep-well agreements and capital maintenance agreements)
to the extent such instruments or agreements support financial, rather than performance, obligations;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&#9;any
net obligation under any Swap Contract, the amount of which on any date shall be deemed to be the Swap Termination Value thereof
as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&#9;all
obligations to pay the deferred purchase price of property or services (other than trade accounts payable in the ordinary course
of business);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(e)&#9;any
capital lease or Synthetic Lease Obligation, the amount of which as of any date shall be deemed to be the amount of Attributable
Indebtedness in respect thereof as of such date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(f)&#9;all
obligations to purchase, redeem, retire, defease or otherwise make any payment in respect of any Equity Interest in such Person
or any other Person, valued, in the case of a redeemable preferred interest, at the greater of its voluntary or involuntary liquidation
preference <U>plus</U> accrued and unpaid dividends, provided, the foregoing shall be excluded from Indebtedness if the obligation
is neither scheduled nor permitted to become due and payable on or prior to the date on which the Obligations are scheduled to
be due and payable in full; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(g)&#9;all
Guarantees in respect of any of the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">For all purposes hereof,
the Indebtedness shall include the Indebtedness of any partnership or Joint Venture (other than a Joint Venture that is itself
a corporation, limited partnership or limited liability company) in which a Person is a general partner or a joint venturer, unless
such Indebtedness is Nonrecourse Indebtedness. Indebtedness shall not include the Indebtedness of Sponsored REITs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Indemnified
Taxes</U>&rdquo; means Taxes other than (i) Excluded Taxes and (ii) Other Taxes imposed under non-US Law rather than US Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Indemnitees</U>&rdquo;
has the meaning specified in <U>Section&nbsp;10.04(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Information</U>&rdquo;
has the meaning specified in <U>Section&nbsp;10.07</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Intangible
Assets</U>&rdquo; means goodwill, the purchase price of acquired assets in excess of fair market value thereof, trademarks, trade
names, service marks, brand names, copyrights, patents and licenses, and rights with respect to the foregoing.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Interest
Expense</U>&rdquo; means for the Consolidated Parties, without duplication, total interest expense incurred (in accordance with
GAAP), including capitalized interest plus the Consolidated Parties&rsquo; Equity Percentage of the same for Unconsolidated Affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Interest
Payment Date</U>&rdquo; means, (a)&nbsp;as to any Loan other than a Base Rate Committed Loan, the last day of each Interest Period
applicable to such Loan and the Revolver Maturity Date; <U>provided</U>, <U>however</U>, that if any Interest Period for a Eurodollar
Rate Committed Loan exceeds three months, the respective dates that fall every three months after the beginning of such Interest
Period shall also be Interest Payment Dates; and (b)&nbsp;as to any Base Rate Committed Loan (including a Swing Line Loan), the
last Business Day of each calendar month and the Revolver Maturity Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Interest
Period</U>&rdquo; means, as to each Eurodollar Rate Committed Loan, the period commencing on the date such Eurodollar Rate Committed
Loan is disbursed or converted to or continued as a Eurodollar Rate Committed Loan and ending on the date one, two, three or six
months thereafter, as selected by the Borrower in its Committed Loan Notice <U>provided</U> that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&#9;any
Interest Period that would otherwise end on a day that is not a Business Day shall be extended to the next succeeding Business
Day unless, in the case of a Eurodollar Rate Committed Loan, such Business Day falls in another calendar month, in which case such
Interest Period shall end on the next preceding Business Day;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&#9;any
Interest Period pertaining to a Eurodollar Rate Committed Loan that begins on the last Business Day of a calendar month (or on
a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on
the last Business Day of the calendar month at the end of such Interest Period;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&#9;no
Interest Period for a Revolver Committed Loan shall extend beyond the Revolver Maturity Date; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)&#9;no
Interest Period for a Term Committed Loan shall extend beyond the Term Loan Maturity Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Internal
Control Event</U>&rdquo; means fraud that involves senior management of any Borrower who has control over financial reporting,
as described in the Securities Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Investment</U>&rdquo;
means, as to any Person, any direct or indirect acquisition or investment by such Person, whether by means of (a)&nbsp;the purchase
or other acquisition of capital stock or other securities of another Person, (b)&nbsp;a loan, advance or capital contribution to,
Guarantee or assumption of debt of, or purchase or other acquisition of any other debt or equity participation or interest in another
Person, including any partnership or joint venture interest in such other Person and any arrangement pursuant to which the investor
Guarantees Indebtedness of such other Person, or (c)&nbsp;the purchase or other acquisition (in one transaction or a series of
transactions) of assets of another Person that constitute a business unit. For purposes of covenant compliance, the amount of any
Investment shall be the amount actually invested, without adjustment for subsequent increases or decreases in the value of such
Investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>IRS</U>&rdquo;
means the United States Internal Revenue Service.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>ISP</U>&rdquo;
means, with respect to any Letter of Credit, the &ldquo;International Standby Practices 1998&rdquo; published by the Institute
of International Banking Law &amp; Practice, Inc. (or such later version thereof as may be in effect at the time of issuance).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Issuer
Documents</U>&rdquo; means with respect to any Letter of Credit, the Letter of Credit Application, and any other document, agreement
and instrument entered into by the L/C Issuer and any Borrower or in favor of the L/C Issuer and relating to such Letter of Credit.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Joinder
Documents</U>&rdquo; means the one or more joinder agreements in the form attached hereto as <U>Exhibit G</U> to be executed by
a Wholly-Owned Subsidiary which is to become a Borrower after the Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Joint
Venture</U>&rdquo; shall mean any Person in which a Consolidated Party owns an Equity Interest, but that is not a Wholly-Owned
Subsidiary of such Consolidated Party. Sponsored REITS shall not be Joint Ventures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Joint
Venture Projects</U>&rdquo; shall mean all Projects with respect to which a Consolidated Party holds, directly or indirectly, an
interest that is less than 100%. Projects owned by Sponsored REITS shall not be Joint Venture Projects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Laws</U>&rdquo;
means, collectively, all international, foreign, federal, state and local statutes, treaties, rules, guidelines, regulations, ordinances,
codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental
Authority charged with the enforcement, interpretation or administration thereof, and all applicable administrative orders, directed
duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case whether
or not having the force of law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>L/C Advance</U>&rdquo;
means, with respect to each Lender, such Lender&rsquo;s funding of its participation in any L/C Borrowing in accordance with its
Applicable Revolver Percentage.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>L/C Borrowing</U>&rdquo;
means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when
made or refinanced as a Committed Borrowing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>L/C Credit
Extension</U>&rdquo; means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof,
or the increase of the amount thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>L/C Issuer</U>&rdquo;
means Bank of America in its capacity as issuer of Letters of Credit hereunder, or any successor issuer of Letters of Credit hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>L/C Obligations</U>&rdquo;
means, as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit <U>plus</U>
the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn
under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with <U>Section&nbsp;1.06</U>.
For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount
may still be drawn thereunder by reason of the operation of Rule&nbsp;3.14 of the ISP, such Letter of Credit shall be deemed to
be &ldquo;outstanding&rdquo; in the amount so remaining available to be drawn.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Lender</U>&rdquo;
means each lender from time to time party hereto as a result of (i) such party&rsquo;s execution of this Agreement as a &ldquo;Lender&rdquo;
as of the Closing Date or (ii) such party&rsquo;s execution by joinder of an amendment to this Agreement to increase the Aggregate
Revolver Commitments pursuant to Section 2.16 hereof, pursuant to which joinder such party agrees to be bound by the terms of this
Agreement as a &ldquo;Lender&rdquo; or (iii) such party being made a &ldquo;Lender&rdquo; hereunder by virtue of an executed Assignment
and Assumption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Lending
Office</U>&rdquo; means, as to any Lender, the office or offices of such Lender described as such in such Lender&rsquo;s Administrative
Questionnaire, or such other office or offices as a Lender may from time to time notify the Borrower and the Administrative Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Letter
of Credit</U>&rdquo; means any standby letter of credit issued hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Letter
of Credit Application</U>&rdquo; means an application and agreement for the issuance or amendment of a Letter of Credit in the
form from time to time in use by the L/C Issuer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Letter
of Credit Fee</U>&rdquo; has the meaning specified in <U>Section&nbsp;2.04(h)</U>.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Letter
of Credit Issuance Expiration Date</U>&rdquo; means the day that is seven (7) days prior to the Revolver Maturity Date then in
effect (or, if such day is not a Business Day, the next preceding Business Day).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Letter
of Credit Sublimit</U>&rdquo; means an amount up to ten percent (10%) of the Aggregate Revolver Commitments. The Letter of Credit
Sublimit is part of, and not in addition to, the Aggregate Commitments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Leverage
Ratio</U>&rdquo; means, at any time, Total Indebtedness divided by the Total Asset Value, expressed as a percentage.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Lien</U>&rdquo;
means any mortgage, pledge, hypothecation, assignment, encumbrance, lien (statutory or other excepting any liens for taxes not
yet due and payable), charge, or other security interest or preferential arrangement in the nature of a security interest of any
kind or nature whatsoever (including any conditional sale or other title retention agreement, any other encumbrance on title to
or ownership of real property securing the payment of money, and any financing lease having substantially the same economic effect
as any of the foregoing).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Loan</U>&rdquo;
means an extension of credit by a Lender to the Borrower under <U>Article&nbsp;II</U> in the form of a Committed Loan or a Swing
Line Loan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Loan Documents</U>&rdquo;
means this Agreement, each Note, each Issuer Document, any agreement, if any, creating or perfecting rights in Cash Collateral
pursuant to the provisions of <U>Section&nbsp;2.17</U> of this Agreement, and any other documents, instruments or agreements executed
and delivered by any Borrower related to the foregoing, including, without limitation, the Fee Letter but specifically excluding
that certain Mandate Letter and attached Summary of Terms dated August 24, 2012 by and among the Borrower, Administrative Agent
and Arranger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>London
Banking Day</U>&rdquo; means any day on which dealings in Dollar deposits are conducted by and between banks in the London interbank
eurodollar market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Material
Adverse Effect</U>&rdquo; means (a)&nbsp;a material adverse change in, or a material adverse effect on, the operations, business,
properties or financial condition of the <FONT STYLE="letter-spacing: -0.15pt">Consolidated Parties (including without limitation,
FSP), taken as a whole</FONT>; (b)&nbsp;a material impairment of the rights and remedies of the Administrative Agent or any Lender
under any Loan Documents or of the ability of the Borrowers taken as a whole to perform their obligations under the Loan Documents
to which they are parties; or (c)&nbsp;a material adverse effect upon the legality, validity, binding effect or enforceability
against any Borrower of any Loan Document to which it is a party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Material
Subsidiary</U>&rdquo; means, as of any date of determination, any Subsidiary other than an Immaterial Subsidiary and as of the
Closing Date, shall include the Persons (other than FSP) shown on <U>Schedule&nbsp;1</U> attached hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>MLPF&amp;S</U>&rdquo;
means Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated successor by merger to, Banc of America Securities LLC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Moody&rsquo;s</U>&rdquo;
means Moody&rsquo;s Investors Service, Inc. and any successor thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Mortgage</U>&rdquo;
shall mean (a) any mortgage, deed of trust, deed to secure debt or similar security instrument (regardless of priority) made or
to be made by any entity or person owning an interest in real estate granting a lien on such interest in real estate as security
for the payment of Indebtedness and (b) any mezzanine indebtedness relating to such real estate interest and secured by the Equity
Interests of the direct or indirect owner of such real estate interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Mortgageability
Amount</U>&rdquo; means the product of (a) Unsecured Indebtedness of the Borrowers multiplied by (b) a debt constant based on a
thirty (30) year, mortgage-style principal amortization at an interest rate equal to the greatest of (i) the 10 year Treasury Bill
yield plus 300 basis points, (ii) 7.50% and (iii) the one-month Eurodollar Rate plus the Eurodollar Rate margin specified in the
Applicable Rate as of the last day of the most recent calendar quarter.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Multiemployer
Plan</U>&rdquo; means any employee benefit plan of the type described in Section&nbsp;4001(a)(3) of ERISA and subject to Title
IV of ERISA, to which any Borrower or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding
five plan years, has made or been obligated to make contributions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Multiple
Employer Plan</U>&rdquo; means a Plan which has two or more contributing sponsors (including any Borrower or any ERISA Affiliate)
at least two of whom are not under common control, as such a plan is described in Section&nbsp;4064 of ERISA and subject to Title
IV of ERISA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Negative
Pledge</U>&rdquo; shall mean with respect to a given asset, any provision of a document, instrument or agreement (other than any
Loan Document) which prohibits the creation or assumption of any Lien on such asset as security for Indebtedness of the Person
owning such asset or any other Person; <U>provided</U>, <U>however</U>, that an agreement that conditions a Person&rsquo;s ability
to encumber its assets upon the maintenance of one or more specified ratios that limit such Person&rsquo;s ability to encumber
its assets but that do not generally prohibit the encumbrance of its assets, or the encumbrance of specific assets, shall not constitute
a Negative Pledge.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Net Operating
Income</U>&rdquo; or &ldquo;<U>NOI</U>&rdquo; means, for any Property owned by any Consolidated Party and for the most recently
ended fiscal quarter of FSP for which financial information has been, or simultaneously with such determination will be, delivered
to the Administrative Agent, the sum of the following (without duplication and determined on a consistent basis with prior periods):
(a)&nbsp;rents and other revenues received or earned in the ordinary course from such Property (including, without limitation,
(i) revenues from the straight-lining of rents; and (ii) proceeds of rent loss or business interruption insurance but excluding
pre-paid rents and revenues and security deposits except to the extent applied in satisfaction of tenants&rsquo; obligations for
rent) <U>minus</U> (b)&nbsp;all expenses paid, excluding interest, and inclusive of an appropriate accrual for expenses related
to the ownership, operation or maintenance of such Property during the respective period, including but not limited to property
taxes, assessments and the like, insurance, utilities, payroll costs, maintenance, repair and landscaping expenses, marketing expenses,
and general and administrative expenses (including an appropriate allocation for legal, accounting, advertising, marketing and
other expenses incurred in connection with such Property, as applicable, but specifically excluding general overhead expenses of
the Borrower or any Subsidiary and any property management fees) <U>minus</U> (c)&nbsp;the Capital Reserves for such Property as
of the end of such period <U>minus</U> (d)&nbsp;without duplication&nbsp;an imputed management fee in the amount of 3% of the gross
revenues for such Property for such period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Nonrecourse
Indebtedness</U>&rdquo; means Secured Indebtedness that is only recourse to all assets of a Person as a result of customary exceptions
to non-recourse liability such as fraud, misapplication of funds, environmental indemnities, and other similar exceptions and is
otherwise contractually limited to specific assets of a Person encumbered by a lien securing such indebtedness.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Note</U>&rdquo;
means a promissory note made by the Borrower in favor of a Lender evidencing Revolving Loans and the Term Loan made by such Lender,
substantially in the form of <U>Exhibits&nbsp;D-1 and D-2</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Obligations</U>&rdquo;
means all advances to, and debts, liabilities, obligations, covenants and duties of, any Borrower arising under any Loan Document
with respect to any Loan or Letter of Credit, whether direct or indirect (including those acquired by assumption), absolute or
contingent, due or to become due, now existing or hereafter arising and including interest and fees under the Loan Documents that
accrue after the commencement by or against any Borrower of any proceeding under any Debtor Relief Laws naming such Person as the
debtor in such proceeding, regardless of whether such interest and fees are allowed claims in such proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Organization
Documents</U>&rdquo; means, (a)&nbsp;with respect to any corporation, the certificate or articles of incorporation and the bylaws
(or equivalent or comparable constitutive documents with respect to any non-U.S. jurisdiction); (b)&nbsp;with respect to any limited
liability company, the certificate or articles of formation or organization and operating agreement; and (c)&nbsp;with respect
to any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement
of formation or organization and any agreement, instrument, filing or notice with respect thereto filed in connection with its
formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or organization and,
if applicable, any certificate or articles of formation or organization of such entity.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Original
Credit Agreement</U>&rdquo; means collectively, that certain Credit Agreement dated as of February 22, 2011, as amended, among
Borrower, Bank of America, N.A., as administrative agent, and a syndicate of Lenders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Other
Taxes</U>&rdquo; means all present or future stamp or documentary Taxes or any other excise or property Taxes, charges or similar
levies imposed under U.S. Law arising from any payment made hereunder or under any other Loan Document or from the execution, delivery
or enforcement of, or otherwise with respect to, this Agreement or any other Loan Document, except for any Excluded Taxes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Outstanding
Amount</U>&rdquo; means (i)&nbsp;with respect to Committed Loans and Swing Line Loans on any date, the aggregate outstanding principal
amount thereof after giving effect to any borrowings and prepayments or repayments of Committed Loans and Swing Line Loans, as
the case may be, occurring on such date; and (ii)&nbsp;with respect to any L/C Obligations on any date, the amount of such L/C
Obligations on such date after giving effect to any L/C Credit Extension occurring on such date and any other changes in the aggregate
amount of the L/C Obligations as of such date, including as a result of any reimbursements by the Borrower of Unreimbursed Amounts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Participant</U>&rdquo;
has the meaning specified in <U>Section&nbsp;10.06(d)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>PBGC</U>&rdquo;
means the Pension Benefit Guaranty Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Pension
Act</U>&rdquo; means the Pension Protection Act of 2006.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Pension
Funding Rules</U>&rdquo; means the rules of the Code and ERISA regarding minimum required contributions (including any installment
payment thereof) to Pension Plans and set forth in, with respect to plan years ending prior to the effective date of the Pension
Act, Section&nbsp;412 of the Code and Section&nbsp;302 of ERISA, each as in effect prior to the Pension Act and, thereafter, Section&nbsp;412,
430, 431, 432 and 436 of the Code and Sections&nbsp;302, 303, 304 and 305 of ERISA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Pension
Plan</U>&rdquo; means any employee pension benefit plan (including a Multiple Employer Plan or a Multiemployer Plan) that is maintained
or is contributed to by any Borrower and any ERISA Affiliate and is either covered by Title&nbsp;IV of ERISA or is subject to the
minimum funding standards under Section&nbsp;412 of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Permitted
Liens</U>&rdquo; means (i) liens for taxes, assessments or governmental charges unpaid and diligently contested in good faith by
the Borrower or a Subsidiary unless payment is required prior to the contesting of any such taxes and provided no enforcement proceedings
have been commenced with respect to any lien filed in connection with such dispute and adequate reserves have been established
(or are adequately bonded) for such taxes, assessments or governmental charges, (ii) liens for taxes, assessments or governmental
charges not yet due and payable, (iii) liens for labor, materials or supplies and any other liens (exclusive of those securing
Indebtedness) which do not materially interfere with the use of the Properties comprising the Unencumbered Asset Pool or the operation
of the business of the Borrower and are either bonded or do not exceed in the aggregate at any one time $5,000,000.00, (iv) liens
in favor of a Borrower or a Wholly-Owned Subsidiary in connection with a 1031 Property, (v) liens deemed to occur by virtue of
investments described in clause (d) of the definition of Cash Equivalents; and (vi) with respect only to Properties not comprising
the Unencumbered Asset Pool and/or assets of or Equity Interests of Excluded Subsidiaries, liens on property existing at the time
of acquisition and refinancing of such liens, liens securing Secured Indebtedness, liens on the Equity Interests of Excluded Subsidiaries,
and liens securing judgments not constituting an Event of Default under Section 8.01(h), all in amounts complying with the applicable
financial covenants set forth in <U>Section 7.11</U> hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Person</U>&rdquo;
means any natural person, corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental
Authority or other entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Plan</U>&rdquo;
means any employee benefit plan within the meaning of Section&nbsp;3(3) of ERISA (including a Pension Plan), maintained for employees
of any Borrower or any ERISA Affiliate or any such Plan to which any Borrower or any ERISA Affiliate is required to contribute
on behalf of any of its employees and not excluded under Section 4 of ERISA.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Platform</U>&rdquo;
has the meaning specified in <U>Section&nbsp;6.02</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Preferred
Dividends</U>&rdquo; shall mean, with respect to any Person, dividends or other distributions which are payable to holders of any
Equity Interests in such Person which entitle the holders of such Equity Interests to be paid on a preferred basis prior to dividends
or other distributions to the holders of other types of Equity Interests in such Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Pro Forma
Compliance Certificate</U>&rdquo; means a certificate in the form attached hereto as <U>Exhibit E-2</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Projects</U>&rdquo;
shall mean any and all parcels of real property owned by any Consolidated Party or with respect to which the Consolidated Party
owns an interest (whether directly or indirectly) on which are located improvements with a gross leasable area in excess of 50,000
square feet or with respect to which construction and development of such improvements are under development.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Projects
Under Development</U>&rdquo; means any Project under development by any Consolidated Party (a)&nbsp;classified as construction
in progress on FSP&rsquo;s quarterly financial statements; or (b)&nbsp;as to which a certificate of occupancy has not been issued.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Properties</U>&rdquo;
means, as of any date of determination, interests in real property, together with all improvements thereon, owned by any Borrower
or any Consolidated Party, as applicable; and &ldquo;<U>Property</U>&rdquo; means any one of them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Public
Lender</U>&rdquo; has the meaning specified in <U>Section&nbsp;6.02</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Rating
Agency</U>&rdquo; means S&amp;P, Moody&rsquo;s or any other nationally recognized securities rating agency selected by the Borrower
and approved of by the Administrative Agent in writing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Register</U>&rdquo;
has the meaning specified in <U>Section&nbsp;10.06(c)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Registered
Public Accounting Firm</U>&rdquo; has the meaning specified in the Securities Laws and shall be independent of the Borrower as
prescribed by the Securities Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>REIT</U>&rdquo;
means a Person qualifying for treatment as a &ldquo;real estate investment trust&rdquo; under the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Related
Parties</U>&rdquo; means, with respect to any Person, such Person&rsquo;s Affiliates and the partners, directors, officers, employees,
agents, trustees and advisors of such Person and of such Person&rsquo;s Affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Release</U>&rdquo;
means any release, spill, emission, leaking, pumping, injection, deposit, disposal, discharge, dispersal, leaching, or migration
of Hazardous Materials into the environment, or into or out of any Property of a Consolidated Party, including the movement of
any Hazardous Materials through or in the air, soil, surface water, groundwater, of any Property of a Consolidated Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<U>Reportable
Event</U>&rdquo; means any of the events set forth in Section&nbsp;4043(c</FONT>) of ERISA, other than events for which the 30
day notice period has been waived.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Request
for Credit Extension</U>&rdquo; means (a)&nbsp;with respect to a Borrowing, conversion or continuation of Committed Loans, a Committed
Loan Notice, (b)&nbsp; with respect to an L/C Credit Extension, a Letter of Credit Application, and (c)&nbsp;with respect to a
Swing Line Loan, a Swing Line Loan Notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Required
Lenders</U>&rdquo; means, as of any date of determination, Lenders having at least 66 <FONT STYLE="font-size: 8pt">2/3</FONT>%
of the Aggregate Commitments or, if the commitment of each Lender to make Loans and the obligation of the L/C Issuer to make L/C
Credit Extensions have been terminated pursuant to <U>Section&nbsp;8.02</U>, Lenders holding in the aggregate at least 66 <FONT STYLE="font-size: 8pt">2/3</FONT>%
of the Total Outstandings (with the aggregate amount of each Lender&rsquo;s risk participation and funded participation in L/C
Obligations and Swing Line Loans being deemed &ldquo;held&rdquo; by such Lender for purposes of this definition); <U>provided</U>,
that the Commitment of, and the portion of the Total Outstandings held or deemed held by, any Defaulting Lender shall be excluded
for purposes of making a determination of Required Lenders.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Requirements</U>&rdquo;
means any law, ordinance, code, order, rule or regulation of any Governmental Authority relating in any way to the acquisition,
ownership, construction, use, occupancy and operation of the Properties comprising the Unencumbered Asset Pool.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Responsible
Officer</U>&rdquo; means (a) the chief executive officer, president, chief operating officer, chief financial officer, treasurer,
assistant treasurer, general counsel or controller of FSP or the president of FSP Property Management LLC, and (b) solely for purposes
of the delivery of incumbency certificates pursuant to <U>Section 4.01</U>, the secretary or assistant secretary of FSP, and (c)
solely for purposes of notices given pursuant to Article II, any other officer of FSP so designated by any of the foregoing officers
in a notice to Administrative Agent and (d) solely for purposes of the delivery of any covenant compliance and/or absence of default
certifications pursuant to <U>Sections 4.01, 4.02, 6.02(a), 6.12(b) and 6.12(c)</U>, the chief executive officer, president, chief
financial officer or treasurer of FSP. Any document delivered hereunder that is signed by a Responsible Officer shall be conclusively
presumed to have been authorized by all necessary corporate, partnership and/or other action on the part of a Borrower and such
Responsible Officer shall be conclusively presumed to have acted on behalf of such Borrower.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.15pt">&ldquo;<U>Restricted
Payment</U>&rdquo; means (a)&nbsp;any dividend or other distribution, direct or indirect, on account of any shares of any class
of the Equity Interests of any Consolidated Party, now or hereafter outstanding (excluding any payment of dividends or other distributions
by FSP based on FSP&rsquo;s good faith estimate of its projected or estimated taxable income or otherwise as necessary to retain
FSP&rsquo;s status as a REIT, to meet the distribution requirements of Section 857 of the Internal Revenue Code or to eliminate
any Taxes to which FSP would otherwise be subject), (b)&nbsp;any redemption, retirement, sinking fund or similar payment, purchase
or other acquisition for value, direct or indirect, of any shares of any class of the Equity Interests of any Consolidated Party,
now or hereafter outstanding, and (c)&nbsp;any payment made to retire, or to obtain the surrender of, any outstanding warrants,
options or other rights to acquire shares of any class of the Equity Interests of any Consolidated Party, now or hereafter outstanding.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.15pt">&ldquo;<U>Revolver
Committed Loan</U>&rdquo; has the meaning specified in <U>Section 2.01(a)</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Revolver
Extended Maturity Date</U>&rdquo; means September 27, 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Revolver
Initial Maturity Date</U>&rdquo; means September 27, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.15pt">&ldquo;<U>Revolver
Loan Commitment</U>&rdquo; means, as to each Lender, such Lender&rsquo;s obligation to make a Revolving Loan pursuant to <U>Section
2.01(a)</U>, in an amount up to, but not exceeding, the amount set forth for such Lender on <U>Schedule 2.01</U> as such Lender&rsquo;s
&ldquo;Revolver Loan Commitment&rdquo; as may be amended pursuant to <U>Section 2.16</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Revolver
Maturity Date</U>&rdquo; means the later of (a)&nbsp;the Revolver Initial Maturity Date and (b)&nbsp;if maturity is extended pursuant
to <U>Section&nbsp;2.15</U>, the Revolver Extended Maturity Date; <U>provided</U>, <U>however</U>, that, in each case, if such
date is not a Business Day, the Revolver Maturity Date shall be the next preceding Business Day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.15pt">&ldquo;<U>Revolving
Loan(s)</U>&rdquo; means a loan(s) made by a Lender to the Borrower pursuant to <U>Section 2.01(a)</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Sarbanes-Oxley</U>&rdquo;
means the Sarbanes-Oxley Act of 2002.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>S&amp;P</U>&rdquo;
means Standard &amp; Poor&rsquo;s Ratings Services, a division of The McGraw-Hill Companies, Inc. and any successor thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>SEC</U>&rdquo;
means the Securities and Exchange Commission, or any Governmental Authority succeeding to any of its principal functions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Secured
Indebtedness</U>&rdquo; means all Indebtedness of a Person that is secured by a mortgage, deed of trust, lien, pledge, encumbrance
or other security interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Secured
Recourse Indebtedness</U>&rdquo; means Secured Indebtedness in respect of which recourse for payment is to all assets of a Person,
provided that Secured Indebtedness that is only recourse to all assets of a Person as a result of customary exceptions to non-recourse
liability such as fraud, misapplication of funds, environmental indemnities, and other similar exceptions shall not be deemed to
be Secured Recourse Indebtedness.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Securities
Holdings</U>&rdquo; shall mean common stock, preferred stock, other capital stock, beneficial interests in trusts, membership interests
in limited liability companies and other Equity Interests in entities (other than consolidated Subsidiaries, unconsolidated Subsidiaries
and Sponsored REITS, and other than property that is included as &ldquo;Cash Equivalents,&rdquo; &ldquo;Cash&rdquo; or &ldquo;Marketable
Securities&rdquo; on FSP&rsquo;s balance sheet). The value of Securities Holdings shall be calculated on the basis of the lower
of cost or market value as shown on FSP&rsquo;s balance sheet.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Securities
Laws</U>&rdquo; means the Securities Act of 1933, the Securities Exchange Act of 1934, Sarbanes-Oxley and the applicable accounting
and auditing principles, rules, standards and practices promulgated, approved or incorporated by the SEC or the Public Company
Accounting Oversight Board, as each of the foregoing may be amended and in effect on any applicable date hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Sponsored
REIT</U>&rdquo; shall have the same meaning as such term is used in FSP&rsquo;s filings with the SEC. For the avoidance of doubt,
a &ldquo;Sponsored REIT&rdquo; shall include a Subsidiary of FSP during the period prior to its syndication.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Subsidiary</U>&rdquo;
of a Person means a corporation, partnership, joint venture, limited liability company or other business entity of which a majority
of the shares of securities or other interests having ordinary voting power for the election of directors or other governing body
(other than securities or interests having such power only by reason of the happening of a contingency) are at the time beneficially
owned, or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both,
by such Person. Unless otherwise specified, all references herein to a &ldquo;Subsidiary&rdquo; or to &ldquo;Subsidiaries&rdquo;
shall refer to a Subsidiary or Subsidiaries of the Borrowers. Sponsored REITs shall not be considered Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Swap Contract</U>&rdquo;
means (a)&nbsp;any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity
swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index
swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign
exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate
swap transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing
(including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any
master agreement, and (b)&nbsp;any and all transactions of any kind, and the related confirmations, which are subject to the terms
and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association,
Inc., any International Foreign Exchange Master Agreement, or any other master agreement used to document transactions of the type
set forth in clause (a) hereof (any such master agreement, together with any related schedules, a &ldquo;<U>Master Agreement</U>&rdquo;),
including any such obligations or liabilities under any Master Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Swap Termination
Value</U>&rdquo; means, in respect of any one or more Swap Contracts, after taking into account the effect of any legally enforceable
netting agreement relating to such Swap Contracts, (a)&nbsp;for any date on or after the date such Swap Contracts have been closed
out and termination value(s) determined in accordance therewith, such termination value(s), and (b)&nbsp;for any date prior to
the date referenced in clause&nbsp;(a), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as determined
based upon one or more readily available quotations provided by any recognized dealer in such Swap Contracts (which may include
a Lender or any Affiliate of a Lender) or any independent valuation source reasonably acceptable to the Administrative Agent (Administrative
Agent agrees that Chatham Financial is a reasonably acceptable independent valuation source).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Swing
Line Borrowing</U>&rdquo; means a borrowing of a Swing Line Loan pursuant to <U>Section&nbsp;2.05</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Swing
Line Lender</U>&rdquo; means Bank of America in its capacity as provider of Swing Line Loans, or any successor swing line lender
hereunder.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Swing
Line Loan</U>&rdquo; has the meaning specified in <U>Section&nbsp;2.05(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Swing
Line Loan Notice</U>&rdquo; means a notice of a Swing Line Borrowing pursuant to <U>Section&nbsp;2.05(b)</U>, which, if in writing,
shall be substantially in the form of <U>Exhibit&nbsp;C</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Swing
Line Sublimit</U>&rdquo; means an amount up to ten percent (10%) of the Aggregate Revolver Commitments. The Swing Line Sublimit
is part of, and not in addition to, the Aggregate Commitments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Syndication
Agent</U>&rdquo; means RBS Citizens, National Association, Regions Bank and Bank of Montreal, each in its capacity as syndication
agent, or any successor syndication agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Synthetic
Lease Obligation</U>&rdquo; means the monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax
retention lease, or (b) an agreement for the use or possession of property creating obligations that do not appear on the balance
sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of
such Person (without regard to accounting treatment).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Taking</U>&rdquo;
means any condemnation for public use of, or damage by reason of, the action of any Governmental Authority, or any transfer by
private sale in lieu thereof, either temporarily or permanently.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Tangible
Net Worth</U>&rdquo; means, for the Consolidated Parties as of any date of determination, the excess of Total Assets over Total
Liabilities, and less the sum of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
total book value of all assets of the Borrower properly classified as Intangible Assets; plus</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
amounts representing any write-up in the book value of any assets of the Borrower resulting from a revaluation thereof subsequent
to the balance sheet date; plus</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
the extent otherwise includable in the computation of Tangible Net Worth, any subscriptions receivable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 0 0; text-align: justify">Total Assets and Total Liabilities
shall also exclude an asset or liability created by the Swap Termination Value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Taxes</U>&rdquo;
means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments,
fees or other charges in the nature of a tax imposed by any Governmental Authority, including any interest, additions to tax or
penalties applicable thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Term Committed
Loan</U>&rdquo; has the meaning specified in <U>Section 2.01(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Term Loan</U>&rdquo;
means the term loan made by the Lenders to the Borrower pursuant to <U>Section 2.01(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Term Loan
Commitment</U>&rdquo; means, as to each Lender, such Lender&rsquo;s obligation to make a Term Loan on the Closing Date pursuant
to <U>Section 2.01(b)</U>, in an amount up to, but not exceeding, the amount set forth for such Lender on <U>Schedule 2.01</U>
as such Lender&rsquo;s &ldquo;<U>Term Loan Commitment</U>&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Term Loan
Maturity Date</U>&rdquo; means September 27, 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Threshold
Amount</U>&rdquo; means without duplication (a) with respect to Nonrecourse Indebtedness, such Indebtedness having an aggregate
outstanding principal amount of at least $40,000,000 individually or when aggregated with all such Indebtedness and (b) with respect
to any other Indebtedness of such Person, such Indebtedness having an aggregate outstanding principal amount of at least $20,000,000
individually or when aggregated with all such Indebtedness. For clarification purposes, no Indebtedness and no Guarantee shall
be attributed to any Person hereunder (for purposes of determination of the Threshold Amount of Indebtedness of a Person, including
whether or not such Indebtedness is Nonrecourse Indebtedness unless such Person is the borrower, guarantor or primary obligor thereof
and, if a guarantor, such Indebtedness or Guarantee, as applicable, shall be deemed to be in the amount of such guaranty (and shall
exclude any and all guaranties that are not in liquidated amounts).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Total
Assets</U>&rdquo; means all assets of the Consolidated Parties determined in accordance with GAAP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Total
Asset Value</U>&rdquo; means, without duplication, for the most recently ended fiscal quarter of FSP, with respect to the Consolidated
Parties on a consolidated basis, the sum of (a) the quotient of annualized NOI for such fiscal quarter minus the aggregate amount
of NOI attributable to each Property sold or otherwise disposed of during such fiscal quarter minus the aggregate amount of NOI
attributable to each Property acquired during the last four fiscal quarters, divided by the Capitalization Rate plus (b) the acquisition
cost of each Property acquired during such prior four fiscal quarters, plus (c) unrestricted cash and Cash Equivalents, plus (d)
the book value of unimproved land holdings, plus (e) the book value of construction in progress, plus (f) the carrying value of
performing mortgage loans to Sponsored REITs, plus (g) the carrying value of preferred stock investments in Sponsored REITs as
shown on FSP&rsquo;s financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Total
Indebtedness</U>&rdquo; means all Indebtedness of the Consolidated Parties determined on a consolidated basis plus the Consolidated
Parties&rsquo; Equity Percentage of Indebtedness of Unconsolidated Affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Total
Liabilities</U>&rdquo; means all liabilities of the Consolidated Parties determined in accordance with GAAP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Total
Outstandings</U>&rdquo; means the aggregate Outstanding Amount of all Loans and all L/C Obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Total
Secured Indebtedness</U>&rdquo; means, all Indebtedness of the Consolidated Parties that is secured by a mortgage, deed of trust,
lien, pledge, encumbrance or other security interest, and the Consolidated Parties&rsquo; Equity Percentage of the above of Unconsolidated
Affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Type</U>&rdquo;
means with respect to a Committed Loan, its character as a Base Rate Committed Loan or a Eurodollar Rate Committed Loan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Unconsolidated
Affiliate(s)</U>&rdquo; means, with respect to any Person (the &ldquo;<U>parent</U>&rdquo;), at any date, any corporation, limited
liability company, partnership, association or other entity that is an Affiliate of such Person, the accounts of which would not
be consolidated with those of the parent in the parent&rsquo;s consolidated financial statements if such financial statements were
prepared in accordance with full consolidation method GAAP as of such date. Unless otherwise specified, all references herein to
&ldquo;Unconsolidated Affiliate&rdquo; or to &ldquo;Unconsolidated Affiliates&rdquo; shall refer to an Unconsolidated Affiliate
or Unconsolidated Affiliates of the Consolidated Parties. Unconsolidated Affiliates shall not include any Sponsored REIT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Unencumbered
Asset Pool</U>&rdquo; shall be comprised of Properties that meet the following criteria:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">The Property is 100% fee owned (or ground leased) by a Borrower or any 1031 Intermediary (ground
leases to be Financeable Ground Leases approved by the Administrative Agent in its reasonable discretion, provided, however, that
ground leases of real property ancillary to the primary use of a Property (such as a ground lease of parking facilities ancillary
to a Property owned in fee by a Borrower) shall not require approval by the Administrative Agent);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">The Property is primarily an industrial, office, flex, or apartment property;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">The Property is located in the continental United States;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">The Property or ownership thereof is not subject to any Liens or Negative Pledges (other than pursuant
to the Loan Documents) except for liens specified in subsections (i)-(v), inclusive, of the definition of Permitted Liens.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">The Borrower has the right to sell, transfer or dispose of such Property, provided that if any
such Property is subject to a Financeable Ground Lease approved by Administrative Agent the Borrower shall be deemed to have the
right to sell, transfer or dispose of such Property if the lessor is required to approve of or consent to any sale, transfer or
disposition based on reasonable objective criteria as to the creditworthiness or line of business of the transferee or delivery
of customary assignment and assumption agreements from the transferor and transferee; and</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">6.</TD><TD STYLE="text-align: justify">The Property is free of all structural defects or major architectural deficiencies, title defects,
Environmental Liability or other adverse matters that would materially impair the value of the Property.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Unencumbered
Asset Value</U>&rdquo; means, without duplication, for the most recently ended fiscal quarter of FSP, with respect to the Unencumbered
Asset Pool, the sum of (a) the quotient of annualized Unencumbered NOI for such fiscal quarter minus the aggregate amount of NOI
attributable to each Property sold or removed from the Unencumbered Asset Pool during such fiscal quarter minus the aggregate amount
of NOI attributable to each Property acquired or added to the Unencumbered Asset Pool during the last four fiscal quarters, divided
by the Capitalization Rate, plus (b) the acquisition cost of each Property acquired or added to the Unencumbered Asset Pool during
such prior four fiscal quarters. For the purposes of calculating the Unencumbered Asset Value, the value of any one Property in
the Unencumbered Asset Pool may not exceed 20% of the aggregate value of the Unencumbered Asset Pool.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Unencumbered
NOI</U>&rdquo; means, the Net Operating Income from the entire Unencumbered Asset Pool for the fiscal quarter most recently ending.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>United
States</U>&rdquo; and &ldquo;<U>U.S.</U>&rdquo; mean the United States of America.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Unreimbursed
Amount</U>&rdquo; has the meaning specified in <U>Section&nbsp;2.04(c)(i)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Unsecured
Indebtedness</U>&rdquo; means all Indebtedness which is not secured by a Lien on any property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Voting
Stock</U>&rdquo; means, with respect to any Person, Equity Interests issued by such Person the holders of which are ordinarily,
in the absence of contingencies, entitled to vote for the election of directors (or persons performing similar functions) of such
Person, even though the right so to vote has been suspended by the happening of such a contingency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Wholly-Owned
Subsidiary</U>&rdquo; of a Person means (i)&nbsp;any Subsidiary all of the outstanding voting securities of which shall at the
time be owned or controlled, directly or indirectly, by such Person or one or more Wholly-Owned Subsidiaries of such Person, or
by such Person and one or more Wholly-Owned Subsidiaries of such Person, or (ii)&nbsp;any partnership, limited liability company,
association, joint venture or similar business organization 100% of the ownership interests having ordinary voting power of which
shall at the time be so owned or controlled. Except as otherwise specifically noted, each reference to &ldquo;Wholly-Owned Subsidiary&rdquo;
contained herein shall be to Subsidiaries of the Consolidated Parties meeting the qualifications noted above. Sponsored REITs shall
not be considered Wholly-Owned Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>1031 Intermediary</U>&rdquo;
means a Person in such person&rsquo;s capacity as an intermediary or accommodation holder in connection with an exchange of property
by a Borrower or a Wholly-Owned Subsidiary intended to qualify under Section 1031 of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>1031 Property</U>&rdquo;
means a property whose legal title or other indicia of ownership is held by a 1031 Intermediary for the benefit of any Borrower
or a Wholly-Owned Subsidiary as part of a 1031 tax exchange intended to qualify under Section 1031 of the Code.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>1.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Other
Interpretive Provisions. </B>With reference to this Agreement and each other Loan Document, unless otherwise specified herein or
in such other Loan Document:</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 words &ldquo;<U>include</U>,&rdquo;
&ldquo;<U>includes</U>&rdquo; and &ldquo;<U>including</U>&rdquo; shall be deemed to be followed by the phrase &ldquo;without limitation.&rdquo;
The word &ldquo;<U>will</U>&rdquo; shall be construed to have the same meaning and effect as the word &ldquo;<U>shall</U>.&rdquo;
Unless the context requires otherwise, (i)&nbsp;any definition of or reference to any agreement, instrument or other document (including
any Organization Document) shall be construed as referring to such agreement, instrument or other document as from time to time
amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth
herein or in any other Loan Document), (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;<U>hereto</U>,&rdquo; &ldquo;<U>herein</U>,&rdquo; &ldquo;<U>hereof</U>&rdquo;
and &ldquo;<U>hereunder</U>,&rdquo; and words of similar import when used in any Loan Document, shall be construed to refer to
such Loan Document in its entirety and not to any particular provision thereof, (iv)&nbsp;all references in a Loan Document to
Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules
to, the Loan Document in which such references appear, (v)&nbsp;any reference to any law shall include all statutory and regulatory
provisions consolidating, amending, replacing or interpreting such law and any reference to any law or regulation shall, unless
otherwise specified, refer to such law or regulation as amended, modified or supplemented from time to time, and (vi)&nbsp;the
words &ldquo;<U>asset</U>&rdquo; and &ldquo;<U>property</U>&rdquo; shall be construed to have the same meaning and effect and to
refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the computation of periods of time from a specified date to a later specified date, the word &ldquo;<U>from</U>&rdquo; means &ldquo;<U>from
and including</U>;&rdquo; the words &ldquo;<U>to</U>&rdquo; and &ldquo;<U>until</U>&rdquo; each mean &ldquo;<U>to but excluding</U>;&rdquo;
and the word &ldquo;<U>through</U>&rdquo; means &ldquo;<U>to and including</U>.&rdquo;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
headings herein and in the other Loan Documents are included for convenience of reference only and shall not affect the interpretation
of this Agreement or any other Loan Document.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
references herein to the &ldquo;knowledge&rdquo; of the Borrower shall be deemed to mean the actual knowledge of the chief executive
officer, president, chief financial officer, treasurer, secretary, assistant secretary, chief operating officer or general counsel
of FSP.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
term Borrower shall be deemed to include each Borrower individually and collectively and all definitions, representations, warranties,
covenants, rights and remedies provided for herein apply to each Borrower individually and collectively except as the context otherwise
provides. Further, any and all references to Obligations shall mean and refer to the joint Obligations of each Borrower to the
Lenders, L/C Issuer and Swing Line Lender. Any and all Credit Extensions hereunder shall be advanced to one of the Borrowers but
shall represent an Obligation of all of the Borrowers to the Lenders, L/C Issuer and Swing Line Lender.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>1.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Accounting
Terms.</B> Generally, all accounting terms not specifically or completely defined herein shall be construed in conformity with,
and all financial data (including financial ratios and other financial calculations) required to be submitted pursuant to this
Agreement shall be prepared in conformity with, GAAP applied on a consistent basis, as in effect on the date of this Agreement
(subject to subsection (a) below) from time to time, applied in a manner consistent with that used in preparing the Audited Financial
Statements, except as otherwise specifically prescribed herein. Notwithstanding the foregoing, for purposes of determining compliance
with any covenant (including the computation of any financial covenant) contained herein, Indebtedness of the Borrower and its
Subsidiaries shall be deemed to be carried at 100% of the outstanding principal amount thereof, and the effects of FASB ASC&nbsp;825
and FASB ASC 470-20 on financial liabilities shall be disregarded.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="letter-spacing: -0.15pt"><U>Changes
in GAAP</U>. If at any time any change in GAAP (or any requirement with respect to adoption of International</FONT> Financial Reporting
Standards) would affect the computation of any financial ratio or requirement set forth in any Loan Document, and either the Borrower
or the Required Lenders shall so request, the Administrative Agent, the Lenders and Borrower shall negotiate in good faith to amend
such ratio or requirement to preserve the original intent thereof in light of such change in GAAP (or any requirement with respect
to adoption of International Financial Reporting Standards) (subject to the approval of the Required Lenders); <U>provided</U>
<U>that</U>, until so amended, (i)&nbsp;such ratio or requirement shall continue to be computed in accordance with GAAP prior to
such change therein (or prior to such requirement with respect to adoption of International Financial Reporting Standards) and
(ii)&nbsp;Borrower shall provide to the Administrative Agent and the Lenders financial statements and other documents required
under this Agreement or as reasonably requested hereunder setting forth a reconciliation between calculations of such ratio or
requirement made before and after giving effect to such change in GAAP (or before and after giving effect to such requirement with
respect to adoption of International Financial Reporting Standards).</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Consolidation
of Variable Interest Entities</U>. All references herein to consolidated financial statements of the Borrower and their Subsidiaries
or to the determination of any amount for the Borrower and their Subsidiaries on a consolidated basis or any similar reference
shall, in each case, be deemed to include each variable interest entity that any Borrower is required to consolidate pursuant to
FASB ASC&nbsp;810 as if such variable interest entity were a Subsidiary as defined herein.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>1.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Rounding.</B>
Any financial ratios required to be maintained by the Borrower pursuant to this Agreement shall be calculated by dividing the appropriate
component by the other component, carrying the result to one place more than the number of places by which such ratio is expressed
herein and rounding the result up or down to the nearest number (with a rounding-up if there is no nearest number).</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>1.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Times
of Day.</B> Unless otherwise specified, all references herein to times of day shall be references to Eastern time (daylight or
standard, as applicable).</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>1.06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Letter
of Credit Amounts.</B> Unless otherwise specified herein, the amount of a Letter of Credit at any time shall be deemed to be the
stated amount of such Letter of Credit in effect at such time; <U>provided,</U> <U>however,</U> that with respect to any Letter
of Credit that, by its terms or the terms of any Issuer Document related thereto, provides for one or more automatic increases
in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such Letter
of Credit after giving effect to all such increases, whether or not such maximum stated amount is in effect at such time.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>1.07&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Borrower
Agent</B>. Each Borrower hereby appoints FSP as agent for the Borrower to execute, on behalf of the Borrower, documents, instruments
and agreements in connection with this credit facility, including, without limitation, documents, instruments and agreements required
for the administration of the Loan, receiving Credit Extensions and exercising interest rate selections and to receive all notices
required to be given to the Borrower under the Loan Documents. Each Borrower shall be jointly and severally obligated for the Obligations
and shall be bound by all actions taken by FSP in connection with the Credit Extensions and the Obligations. Any Credit Extension
received by FSP shall be deemed to have been received by each Borrower.</P>

<P STYLE="font: normal 10pt Times New Roman Bold; margin: 0 0 12pt; text-align: center; text-indent: 0in"><B>ARTICLE
II.<BR>
THE COMMITMENTS AND CREDIT EXTENSIONS</B></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>2.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Committed
Loans</B>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to the terms and conditions set forth herein, each Lender severally agrees to make revolving loans (each such loan, a &ldquo;<U>Revolver
Committed Loan&rdquo;</U>) to the Borrower from time to time, on any Business Day during the Availability Period, in an aggregate
amount not to exceed at any time outstanding the amount of such Lender&rsquo;s Revolver Loan Commitment; <U>provided,</U> <U>however,</U>
that after giving effect to any Committed Borrowing, (i) the Outstanding Amount of Revolver Committed Loans and Swing Line Loans
and L/C Obligations shall not exceed the Aggregate Revolver Commitments and (ii) the Total Outstandings owed to any Lender shall
not exceed such Lender&rsquo;s Commitment. Within the limits of each Lender&rsquo;s Commitment, and subject to the other terms
and conditions hereof, the Borrower may borrow under this <U>Section&nbsp;2.01, </U>prepay under <U>Section&nbsp;2.06, </U>and
reborrow under this <U>Section&nbsp;2.01</U>. Revolver Committed Loans may be Base Rate Committed Loans or Eurodollar Rate Committed
Loans, as further provided herein.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to the terms and conditions set forth herein, on the Closing Date, each Lender severally agrees to make a term loan (each such
loan, a &ldquo;<U>Term Committed Loan</U>&rdquo;) to the Borrower in the aggregate principal amount equal to the Lender&rsquo;s
Term Loan Commitment. As long as no Event of Default occurs, the Term Loan shall mature on the Term Loan Maturity Date. The Borrower
may not reborrow any portion of the Term Loan once repaid. Term Committed Loans may be Base Rate Committed Loans or Eurodollar
Rate Committed Loans, as further provided herein.</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>2.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Borrowings,
Conversions and Continuations of Committed Loans</B>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Committed Borrowing, each conversion of Committed Loans from one Type to the other, and each continuation of Eurodollar Rate Committed
Loans shall be made upon the Borrower&rsquo;s irrevocable notice to the Administrative Agent, which may be given by telephone.
Each such notice must be received by the Administrative Agent not later than 11:00 a.m. (i)&nbsp;three Business Days prior to the
requested date of any Borrowing of, conversion to or continuation of Eurodollar Rate Committed Loans or of any conversion of Eurodollar
Rate Committed Loans to Base Rate Committed Loans, and (ii)&nbsp;on the requested date of any Borrowing of Base Rate Committed
Loans. Each telephonic or email notice by the Borrower pursuant to this <U>Section&nbsp;2.02(a)</U> must be confirmed promptly
by delivery to the Administrative Agent of a written Committed Loan Notice, appropriately completed and signed by a Responsible
Officer of the Borrower. Each Borrowing of, conversion to or continuation of Eurodollar Rate Committed Loans shall be in a principal
amount of $1,000,000 or a whole multiple of $500,000 in excess thereof. Except as provided in <U>Sections&nbsp;2.04(c)</U> and
<U>2.05(c)</U>, each Borrowing of or conversion to Base Rate Committed Loans shall be in a principal amount of $1,000,000 or a
whole multiple of $500,000 in excess thereof. Each Committed Loan Notice (whether telephonic or written) shall specify (i)&nbsp;whether
the Borrower is requesting a Committed Borrowing, a conversion of Committed Loans from one Type to the other, or a continuation
of Eurodollar Rate Committed Loans, (ii)&nbsp;the requested date of the Borrowing, conversion or continuation, as the case may
be (which shall be a Business Day), (iii)&nbsp;the principal amount of Committed Loans to be borrowed, converted or continued,
(iv)&nbsp;the Type of Committed Loans to be borrowed or to which existing Committed Loans are to be converted, and (v)&nbsp;if
applicable, the duration of the Interest Period with respect thereto. If the Borrower fails to specify a Type of Committed Loan
in a Committed Loan Notice or if the Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable
Committed Loans shall be made as, or converted to, a one (1) month Eurodollar Rate Committed Loan. Any such automatic conversion
to one (1) month Eurodollar Rate Committed Loans shall be effective as of the last day of the Interest Period then in effect with
respect to the applicable Eurodollar Rate Committed Loans. If the Borrower requests a Borrowing of, conversion to, or continuation
of Eurodollar Rate Committed Loans in any such Committed Loan Notice, but fails to specify an Interest Period, it will be deemed
to have specified an Interest Period of one month.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Following
receipt of a Committed Loan Notice, the Administrative Agent shall promptly notify each Lender of the amount of its Applicable
Percentage of the applicable Committed Loans (provided, however, that in the case of Borrowings of Eurodollar Committed Loans,
such notice shall be given to each Lender not later than 11:00 a.m. two Business Days prior to the requested date of such Borrowing),
and if no timely notice of a conversion or continuation is provided by the Borrower, the Administrative Agent shall notify each
Lender of the details of any automatic conversion to Base Rate Committed Loans described in the preceding subsection. In the case
of a Committed Borrowing, each Lender shall make the amount of its Committed Loan available to the Administrative Agent in immediately
available funds at the Administrative Agent<FONT STYLE="color: black">&rsquo;</FONT>s Office not later than 1:00 p.m. on the Business
Day specified in the applicable Committed Loan Notice. Upon satisfaction of the applicable conditions set forth in <U>Section&nbsp;4.02</U>
(and, if such Borrowing is the initial Credit Extension, <U>Section&nbsp;4.01</U>), the Administrative Agent shall make all funds
so received available to the Borrower in like funds as received by the Administrative Agent either by (i)&nbsp;crediting the account
of the Borrower on the books of Bank of America with the amount of such funds or (ii)&nbsp;wire transfer of such funds, in each
case in accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by the Borrower; <U>provided</U>,
<U>however</U>, that if, on the date the Committed Loan Notice with respect to such Borrowing is given by the Borrower, there are
L/C Borrowings outstanding, then the proceeds of such Borrowing, <U>first</U>, shall be applied to the payment in full of any such
L/C Borrowings, and <U>second</U>, shall be made available to the Borrower as provided above.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as otherwise provided herein, a Eurodollar Rate Committed Loan may be continued or converted only on the last day of an Interest
Period for such Eurodollar Rate Committed Loan. During the existence of a Default, the Required Lenders may elect not to permit
any Loans to be made as, converted to or continued as Eurodollar Rate Committed Loans.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Administrative Agent shall promptly notify the Borrower and the Lenders of the interest rate applicable to any Interest Period
for Eurodollar Rate Committed Loans upon determination of such interest rate. At any time that Base Rate Committed Loans are outstanding,
the Administrative Agent shall notify the Borrower and the Lenders of any change in Bank of America&rsquo;s prime rate used in
determining the Base Rate promptly following the public announcement of such change.</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After
giving effect to all Committed Borrowings, all conversions of Committed Loans from one Type to the other, and all continuations
of Committed Loans as the same Type, there shall not be more than six Interest Periods in effect with respect to Eurodollar Rate
Committed Loans.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>2.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Intentionally
Omitted</B>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>2.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Letters
of Credit</B>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>The
Letter of Credit Commitment</U>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to the terms and conditions set forth herein, (A)&nbsp;the L/C Issuer agrees, in reliance upon the agreements of the Lenders set
forth in this <U>Section&nbsp;2.04</U>, (1)&nbsp;from time to time on any Business Day during the period from the Closing Date
until the Letter of Credit Issuance Expiration Date, to issue Letters of Credit for the account of the Borrower, and to amend or
extend Letters of Credit previously issued by it, in accordance with subsection&nbsp;(b) below, and (2)&nbsp;to honor drawings
under the Letters of Credit; and (B)&nbsp;the Lenders severally agree to participate in Letters of Credit issued for the account
of the Borrower or for the account of the Borrower on behalf of a Subsidiary and any drawings thereunder; <U>provided</U> that
after giving effect to any L/C Credit Extension with respect to any Letter of Credit, (x)&nbsp;the Outstanding Amount of Revolver
Committed Loans and Swing Line Loans and L/C Obligations shall not exceed the Aggregate Revolver Commitments, (y)&nbsp;the aggregate
Outstanding Amount of the Revolver Committed Loans of any Lender, <U>plus</U> such Lender&rsquo;s Applicable Revolver Percentage
of the Outstanding Amount of all L/C Obligations, <U>plus</U> such Lender&rsquo;s Applicable Revolver Percentage of the Outstanding
Amount of all Swing Line Loans shall not exceed such Lender&rsquo;s Revolver Commitment, and (z)&nbsp;the Outstanding Amount of
the L/C Obligations shall not exceed the Letter of Credit Sublimit. Each request by the Borrower for the issuance or amendment
of a Letter of Credit shall be deemed to be a representation by the Borrower that the L/C Credit Extension so requested complies
with the conditions set forth in the proviso to the preceding sentence. Within the foregoing limits, and subject to the terms and
conditions hereof, the Borrower&rsquo;s ability to obtain Letters of Credit shall be fully revolving, and accordingly the Borrower
may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit that have expired or that have been drawn
upon and reimbursed.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
L/C Issuer shall not issue any Letter of Credit, if:</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(A)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;subject
to <U>Section&nbsp;2.04(b)(iii)</U>, the expiry date of the requested Letter of Credit would occur more than twelve months after
the date of issuance or last extension, unless the Required Lenders have approved such expiry date; or</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(B)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
expiry date of the requested Letter of Credit would occur after the Letter of Credit Issuance Expiration Date, except the expiry
date of the requested Letter of Credit may occur up to twelve (12) months following the Letter of Credit Issuance Expiration Date
provided Borrower has, at least thirty (30) days prior to such Letter of Credit Issuance Expiration Date, fully Cash Collateralized
such Letter of Credit in accordance with <U>Section 2.17(a)</U> hereof.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
L/C Issuer shall not be under any obligation to issue any Letter of Credit if:</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(A)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain the L/C
Issuer from issuing the Letter of Credit, or any Law applicable to the L/C Issuer or any request or directive (whether or not having
the force of law) from any Governmental Authority with jurisdiction over the L/C Issuer shall prohibit, or request that the L/C
Issuer refrain from, the issuance of letters of credit generally or the Letter of Credit in particular or shall impose upon the
L/C Issuer with respect to the Letter of Credit any restriction, reserve or capital requirement (for which the L/C Issuer is not
otherwise compensated hereunder) not in effect on the Closing Date, or shall impose upon the L/C Issuer any unreimbursed loss,
cost or expense which was not applicable on the Closing Date and which the L/C Issuer in good faith deems material to it;</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(B)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
issuance of the Letter of Credit would violate one or more written policies of the L/C Issuer applicable to letters of credit generally;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(C)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;except
as otherwise agreed by the Administrative Agent and the L/C Issuer, the Letter of Credit is in an initial stated amount less than
$500,000;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(D)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Letter of Credit is to be denominated in a currency other than Dollars;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(E)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
Lender is at that time a Defaulting Lender, unless the L/C Issuer has entered into arrangements, including the delivery of Cash
Collateral, satisfactory to the L/C Issuer (in its reasonable discretion) with the Borrower or such Lender to eliminate the L/C
Issuer&rsquo;s actual or potential Fronting Exposure (after giving effect to <U>Section&nbsp;2.18(a)(iv</U>)) with respect to the
Defaulting Lender arising from either the Letter of Credit then proposed to be issued or that Letter of Credit and all other L/C
Obligations as to which the L/C Issuer has actual or potential Fronting Exposure, as it may elect in its reasonable discretion;
or</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(F)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Letter of Credit contains any provisions for automatic reinstatement of the stated amount after any drawing thereunder.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
L/C Issuer shall not amend any Letter of Credit if the L/C Issuer would not be permitted at such time to issue the Letter of Credit
in its amended form under the terms hereof.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
L/C Issuer shall be under no obligation to amend any Letter of Credit if (A)&nbsp;the L/C Issuer would have no obligation at such
time to issue the Letter of Credit in its amended form under the terms hereof, or (B)&nbsp;the beneficiary of the Letter of Credit
does not accept the proposed amendment to the Letter of Credit.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
L/C Issuer shall act on behalf of the Lenders with respect to any Letters of Credit issued by it and the documents associated therewith,
and the L/C Issuer shall have all of the benefits and immunities (A)&nbsp;provided to the Administrative Agent in <U>Article&nbsp;IX</U>
with respect to any acts taken or omissions suffered by the L/C Issuer in connection with Letters of Credit issued by it or proposed
to be issued by it and Issuer Documents pertaining to such Letters of Credit as fully as if the term &ldquo;Administrative Agent&rdquo;
as used in <U>Article&nbsp;IX</U> included the L/C Issuer with respect to such acts or omissions, and (B)&nbsp;as additionally
provided herein with respect to the L/C Issuer.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Procedures
for Issuance and Amendment of Letters of Credit; Auto-Extension Letters of Credit</U>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Letter of Credit shall be issued or amended, as the case may be, upon the request of the Borrower delivered to the L/C Issuer (with
a copy to the Administrative Agent) in the form of a Letter of Credit Application, appropriately completed and signed by a Responsible
Officer of the Borrower. Such Letter of Credit Application must be received by the L/C Issuer and the Administrative Agent not
later than 11:00 a.m. at least two Business Days (or such later date and time as the Administrative Agent and the L/C Issuer may
agree in a particular instance in their sole discretion) prior to the proposed issuance date or date of amendment, as the case
may be. In the case of a request for an initial issuance of a Letter of Credit, such Letter of Credit Application shall specify
in form and detail reasonably satisfactory to the L/C Issuer: (A)&nbsp;the proposed issuance date of the requested Letter of Credit
(which shall be a Business Day); (B)&nbsp;the amount thereof; (C)&nbsp;the expiry date thereof; (D)&nbsp;the name and address of
the beneficiary thereof; (E)&nbsp;the documents to be presented by such beneficiary in case of any drawing thereunder; (F)&nbsp;the
full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; and (G)&nbsp;such other matters
as the L/C Issuer may reasonably require. In the case of a request for an amendment of any outstanding Letter of Credit, such Letter
of Credit Application shall specify in form and detail reasonably satisfactory to the L/C Issuer (A)&nbsp;the Letter of Credit
to be amended; (B)&nbsp;the proposed date of amendment thereof (which shall be a Business Day); (C)&nbsp;the nature of the proposed
amendment; and (D)&nbsp;such other matters as the L/C Issuer may reasonably require. Additionally, the Borrower shall furnish to
the L/C Issuer and the Administrative Agent&nbsp;such other documents and information pertaining to such requested Letter of Credit
issuance or amendment, including any Issuer Documents, as the L/C Issuer or the Administrative Agent may reasonably require.</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Promptly
after receipt of any Letter of Credit Application, the L/C Issuer will confirm with the Administrative Agent (by telephone or in
writing) that the Administrative Agent has received a copy of such Letter of Credit Application from the Borrower and, if not,
the L/C Issuer will provide the Administrative Agent with a copy thereof. The Administrative Agent will provide any Letter of Credit
Application received by the Administrative Agent to the Lenders. Unless the L/C Issuer has received written notice from any Lender,
the Administrative Agent or any Borrower, at least one Business Day prior to the requested date of issuance or amendment of the
applicable Letter of Credit, that one or more applicable conditions contained in <U>Article&nbsp;IV</U> shall not then be satisfied,
then, subject to the terms and conditions hereof, the L/C Issuer shall, on the requested date, issue a Letter of Credit for the
account of the Borrower (or the applicable Subsidiary) or enter into the applicable amendment, as the case may be, in each case
in accordance with the L/C Issuer&rsquo;s usual and customary business practices. Immediately upon the issuance of each Letter
of Credit, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the L/C Issuer a
risk participation in such Letter of Credit in an amount equal to the product of such Lender&rsquo;s Applicable Revolver Percentage
<U>times</U> the amount of such Letter of Credit.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the Borrower so requests in any applicable Letter of Credit Application, the L/C Issuer may, in its sole discretion, agree to issue
a Letter of Credit that has automatic extension provisions (each, an &ldquo;<U>Auto-Extension Letter of Credit</U>&rdquo;); <U>provided</U>
that any such Auto-Extension Letter of Credit must permit the L/C Issuer to prevent any such extension at least once in each twelve-month
period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not later
than a day (the &ldquo;<U>Non-Extension Notice Date</U>&rdquo;) in each such twelve-month period to be agreed upon at the time
such Letter of Credit is issued. Unless otherwise directed by the L/C Issuer, the Borrower shall not be required to make a specific
request to the L/C Issuer for any such extension. Once an Auto-Extension Letter of Credit has been issued, the Lenders shall be
deemed to have authorized (but may not require) the L/C Issuer to permit the extension of such Letter of Credit at any time to
an expiry date not later than the Letter of Credit Issuance Expiration Date or, if such Letter of Credit has been fully Cash Collateralized
in accordance with <U>Section 2.17(a)</U> hereof on or prior to the date that is thirty (30) days prior to the Revolver Maturity
Date, the date which is up to twelve (12) months following such Letter of Credit Issuance Expiration Date; <U>provided</U>, <U>however</U>,
that the L/C Issuer shall not permit any such extension if (A)&nbsp;the L/C Issuer has determined that it would not be permitted,
or would have no obligation, at such time to issue such Letter of Credit in its revised form (as extended) under the terms hereof
(by reason of the provisions of clause&nbsp;(ii) or (iii) of <U>Section&nbsp;2.04(a)</U> or otherwise), or (B)&nbsp;it has received
notice (which may be by telephone or in writing) on or before the day that is seven Business Days before the Non-Extension Notice
Date (1)&nbsp;from the Administrative Agent that the Required Lenders have elected not to permit such extension (but only if such
election is consistent with the terms of the applicable Letter of Credit and the Borrower would not be entitled to the issuance
of such Letter of Credit in its revised form (as extended) under the terms hereof) or (2)&nbsp;from the Administrative Agent, any
Lender or the Borrower that one or more of the applicable conditions specified in <U>Section&nbsp;4.02</U> is not then satisfied,
and in each such case directing the L/C Issuer not to permit such extension.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Promptly
after its delivery of any Letter of Credit or any amendment to a Letter of Credit to an advising bank with respect thereto or to
the beneficiary thereof, the L/C Issuer will also deliver to the Borrower and the Administrative Agent a true and complete copy
of such Letter of Credit or amendment and the Administrative Agent will provide such copies to the Lenders.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Drawings
and Reimbursements; Funding of Participations</U>.</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the L/C Issuer shall
notify the Borrower and the Administrative Agent thereof. Not later than 11:00 a.m. (or, in the event the Borrower has not been
notified of such drawing prior to such time, within 2 hours of receipt of such notice) on the date of any payment by the L/C Issuer
under a Letter of Credit (each such date, an &ldquo;<U>Honor Date</U>&rdquo;), the Borrower shall reimburse the L/C Issuer through
the Administrative Agent in an amount equal to the amount of such drawing. If the Borrower fails to so reimburse the L/C Issuer
by such time, the Administrative Agent shall promptly notify each Lender of the Honor Date, the amount of the unreimbursed drawing
(the &ldquo;<U>Unreimbursed Amount</U>&rdquo;), and the amount of such Lender&rsquo;s Applicable Revolver Percentage thereof. In
such event, the Borrower shall be deemed to have requested a Committed Borrowing of a Revolver Committed Loan of Base Rate Committed
Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples
specified in <U>Section&nbsp;2.02</U> for the principal amount of Base Rate Committed Loans, but subject to the amount of the unutilized
portion of the Aggregate Revolver Commitments and the conditions set forth in <U>Section&nbsp;4.02</U> (other than the delivery
of a Committed Loan Notice). Any notice given by the L/C Issuer or the Administrative Agent pursuant to this <U>Section&nbsp;2.04(c)(i)</U>
may be given by telephone if immediately confirmed in writing; <U>provided</U> that the lack of such an immediate confirmation
shall not affect the conclusiveness or binding effect of such notice.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Lender shall upon any notice pursuant to <U>Section&nbsp;2.04(c)(i)</U> make funds available (and the Administrative Agent may
apply Cash Collateral provided for this purpose) for the account of the L/C Issuer at the Administrative Agent&rsquo;s Office in
an amount equal to its Applicable Revolver Percentage of the Unreimbursed Amount not later than 1:00 p.m. on the Business Day specified
in such notice by the Administrative Agent, whereupon, subject to the provisions of <U>Section&nbsp;2.04(c)(iii)</U>, each Lender
that so makes funds available shall be deemed to have made a Base Rate Committed Loan to the Borrower in such amount. The Administrative
Agent shall remit the funds so received to the L/C Issuer.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With
respect to any Unreimbursed Amount that is not fully refinanced by a Committed Borrowing of a Revolver Committed Loan of Base Rate
Committed Loans because the conditions set forth in <U>Section&nbsp;4.02</U> cannot be satisfied or for any other reason, the Borrower
shall be deemed to have incurred from the L/C Issuer an L/C Borrowing in the amount of the Unreimbursed Amount that is not so refinanced,
which L/C Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the Default Rate from
and after the date that is five (5) days after the date of such demand. In such event, each Lender&rsquo;s payment to the Administrative
Agent for the account of the L/C Issuer pursuant to <U>Section&nbsp;2.04(c)(ii)</U> shall be deemed payment in respect of its participation
in such L/C Borrowing and shall constitute an L/C Advance from such Lender in satisfaction of its participation obligation under
this <U>Section&nbsp;2.04</U>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Until
each Lender funds its Committed Loan or L/C Advance pursuant to this <U>Section&nbsp;2.04(c)</U> to reimburse the L/C Issuer for
any amount drawn under any Letter of Credit, interest in respect of such Lender&rsquo;s Applicable Revolver Percentage of such
amount shall be solely for the account of the L/C Issuer.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Lender&rsquo;s obligation to make Committed Loans or L/C Advances to reimburse the L/C Issuer for amounts drawn under Letters of
Credit, as contemplated by this <U>Section&nbsp;2.04(c)</U>, shall be absolute and unconditional and shall not be affected by any
circumstance, including (A)&nbsp;any setoff, counterclaim, recoupment, defense or other right which such Lender may have against
the L/C Issuer, the Borrower or any other Person for any reason whatsoever; (B)&nbsp;the occurrence or continuance of a Default,
or (C)&nbsp;any other occurrence, event or condition, whether or not similar to any of the foregoing; <U>provided</U>, <U>however</U>,
that each Lender&rsquo;s obligation to make Committed Loans pursuant to this <U>Section&nbsp;2.04(c)</U> is subject to the conditions
set forth in <U>Section&nbsp;4.02</U> (other than delivery by the Borrower of a Committed Loan Notice). No such making of an L/C
Advance shall relieve or otherwise impair the obligation of the Borrower to reimburse the L/C Issuer for the amount of any payment
made by the L/C Issuer under any Letter of Credit, together with interest as provided herein.</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
any Lender fails to make available to the Administrative Agent for the account of the L/C Issuer any amount required to be paid
by such Lender pursuant to the foregoing provisions of this <U>Section&nbsp;2.04(c)</U> by the time specified in <U>Section&nbsp;2.04(c)(ii)</U>,
then, without limiting the other provisions of this Agreement, the L/C Issuer shall be entitled to recover from such Lender (acting
through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required
to the date on which such payment is immediately available to the L/C Issuer at a rate per annum equal to the greater of the Federal
Funds Rate and a rate determined by the L/C Issuer in accordance with banking industry rules on interbank compensation, plus any
administrative, processing or similar fees customarily charged by the L/C Issuer in connection with the foregoing. If such Lender
pays such amount (with interest and fees as aforesaid), the amount so paid shall constitute such Lender&rsquo;s Committed Loan
included in the relevant Committed Borrowing or L/C Advance in respect of the relevant L/C Borrowing, as the case may be. A certificate
of the L/C Issuer submitted to any Lender (through the Administrative Agent) with respect to any amounts owing under this clause&nbsp;(vi)
shall be conclusive absent manifest error.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Repayment
of Participations</U>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At
any time after the L/C Issuer has made a payment under any Letter of Credit and has received from any Lender such Lender&rsquo;s
L/C Advance in respect of such payment in accordance with <U>Section&nbsp;2.04(c)</U>, if the Administrative Agent receives for
the account of the L/C Issuer any payment in respect of the related Unreimbursed Amount or interest thereon (whether directly from
the Borrower or otherwise, including proceeds of Cash Collateral applied thereto by the Administrative Agent), the Administrative
Agent will promptly distribute to such Lender its Applicable Revolver Percentage thereof in the same funds as those received by
the Administrative Agent.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
any payment received by the Administrative Agent for the account of the L/C Issuer pursuant to <U>Section&nbsp;2.04(c)(i)</U> is
required to be returned under any of the circumstances described in <U>Section&nbsp;10.05</U> (including pursuant to any settlement
entered into by the L/C Issuer in its discretion), each Lender shall pay to the Administrative Agent for the account of the L/C
Issuer its Applicable Revolver Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date of
such demand to the date such amount is returned by such Lender, at a rate per annum equal to the Federal Funds Rate from time to
time in effect. The obligations of the Lenders under this clause shall survive the payment in full of the Obligations and the termination
of this Agreement.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Obligations
Absolute</U>. The obligation of the Borrower to reimburse the L/C Issuer for each drawing under each Letter of Credit and to repay
each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of
this Agreement under all circumstances, including the following:</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
lack of validity or enforceability of such Letter of Credit, this Agreement, or any other Loan Document;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
existence of any claim, counterclaim, setoff, defense or other right that the Borrower or any Subsidiary may have at any time against
any beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee
may be acting), the L/C Issuer or any other Person, whether in connection with this Agreement, the transactions contemplated hereby
or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated transaction;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
draft, demand, certificate or other document presented under such Letter of Credit proving to be forged, fraudulent, invalid or
insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay in the transmission
or otherwise of any document required in order to make a drawing under such Letter of Credit;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
payment by the L/C Issuer under such Letter of Credit against presentation of a draft or certificate that does not strictly comply
with the terms of such Letter of Credit; or any payment made by the L/C Issuer under such Letter of Credit to any Person purporting
to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of creditors, liquidator, receiver or other representative
of or successor to any beneficiary or any transferee of such Letter of Credit, including any arising in connection with any proceeding
under any Debtor Relief Law; or</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
other circumstance or happening whatsoever, whether or not similar to any of the foregoing, including any other circumstance that
might otherwise constitute a defense available to, or a discharge of, the Borrower or any Subsidiary, provided that nothing in
this subsection (e) shall impair the rights of the Borrower under subsection (f).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Borrower shall
promptly examine a copy of each Letter of Credit and each amendment thereto that is delivered to it and, in the event of any claim
of noncompliance with the Borrower<FONT STYLE="color: black">&rsquo;</FONT>s instructions or other irregularity, the Borrower will
immediately notify the L/C Issuer. The Borrower shall be conclusively deemed to have waived any such claim against the L/C Issuer
and its correspondents unless such notice is given as aforesaid.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Role
of L/C Issuer</U>. Each Lender and the Borrower agree that, in paying any drawing under a Letter of Credit, the L/C Issuer shall
not have any responsibility to obtain any document (other than any sight draft, certificates and documents expressly required by
the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or the authority of the Person
executing or delivering any such document. None of the L/C Issuer, the Administrative Agent, any of their respective Related Parties
nor any correspondent, participant or assignee of the L/C Issuer shall be liable to any Lender for (i)&nbsp;any action taken or
omitted in connection herewith at the request or with the approval of the Lenders or the Required Lenders, as applicable; (ii)&nbsp;any
action taken or omitted in the absence of gross negligence or willful misconduct; or (iii)&nbsp;the due execution, effectiveness,
validity or enforceability of any document or instrument related to any Letter of Credit or Issuer Document. The Borrower hereby
assumes all risks of the acts or omissions of any beneficiary or transferee with respect to its use of any Letter of Credit; <U>provided</U>,
<U>however</U>, that this assumption is not intended to, and shall not, preclude the Borrower<FONT STYLE="color: black">&rsquo;</FONT>s
pursuing such rights and remedies as it may have against the beneficiary or transferee at law or under any other agreement. None
of the L/C Issuer, the Administrative Agent, any of their respective Related Parties nor any correspondent, participant or assignee
of the L/C Issuer shall be liable or responsible for any of the matters described in clauses&nbsp;(i) through (v) of <U>Section&nbsp;2.04(e)</U>;
<U>provided</U>, <U>however</U>, that anything in such clauses to the contrary notwithstanding, the Borrower may have a claim against
the L/C Issuer, and the L/C Issuer may be liable to the Borrower, to the extent, but only to the extent, of any direct, as opposed
to consequential or exemplary, damages suffered by the Borrower which the Borrower proves were caused by the L/C Issuer&rsquo;s
willful misconduct or gross negligence or the L/C Issuer&rsquo;s willful failure to pay under any Letter of Credit after the presentation
to it by the beneficiary of a sight draft and certificate(s) strictly complying with the terms and conditions of a Letter of Credit.
In furtherance and not in limitation of the foregoing, the L/C Issuer may accept documents that appear on their face to be in order,
without responsibility for further investigation, regardless of any notice or information to the contrary, and the L/C Issuer shall
not be responsible for the validity or sufficiency of any instrument transferring or assigning or purporting to transfer or assign
a Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid
or ineffective for any reason.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Applicability
of ISP and UCP</U>. Unless otherwise expressly agreed by the L/C Issuer and the Borrower when a Letter of Credit is issued, (i)
the rules of the ISP shall apply to each standby Letter of Credit and (ii)&nbsp;the rules of the Uniform Customs and Practice for
Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance shall apply to
each commercial Letter of Credit.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Letter
of Credit Fees</U>. The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Applicable
Revolver Percentage a Letter of Credit fee (the &ldquo;<U>Letter of Credit Fee</U>&rdquo;) for each Letter of Credit equal to the
Applicable Rate per annum <U>times</U> the daily amount available to be drawn under such Letter of Credit; <U>provided</U>, however,
any Letter of Credit Fees otherwise payable for the account of a Defaulting Lender with respect to any Letter of Credit as to which
such Defaulting Lender has not provided Cash Collateral satisfactory to the L/C Issuer pursuant to this <U>Section&nbsp;2.04</U>
shall be payable, to the maximum extent permitted by applicable Law, to the other Lenders in accordance with the upward adjustments
in their respective Applicable Revolver Percentages allocable to such Letter of Credit pursuant to <U>Section&nbsp;2.18(a)(iv)</U>,
with the balance of such fee, if any, payable to the L/C Issuer for its own account. For purposes of computing the daily amount
available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with <U>Section&nbsp;1.06</U>.
Letter of Credit Fees shall be (i)&nbsp;due and payable on the first Business Day after the end of each March, June, September
and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the date on which such
Letter of Credit expires or is drawn on in accordance with the terms hereof and thereafter on demand and (ii)&nbsp;computed on
a quarterly basis in arrears. If there is any change in the Applicable Rate during any quarter, the daily amount available to be
drawn under each Letter of Credit shall be computed and multiplied by the Applicable Rate separately for each period during such
quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary contained herein, upon the request of
the Required Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate.</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Fronting
Fee and Documentary and Processing Charges Payable to L/C Issuer</U>. Borrower shall pay directly to the L/C Issuer for its own
account a fronting fee with respect to each Letter of Credit equal to the greater of (A) $1,500 per Letter of Credit on the date
of issuance of the applicable Letter of Credit and, if applicable, each renewal date for such Letter of Credit and (B) 0.125% per
annum of the issued and undrawn amount of such Letter of Credit, computed on the daily amount available to be drawn under such
Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the tenth Business Day after the
end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in
the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the
date on which such Letter of Credit expires in accordance with the terms hereof and thereafter on demand. For purposes of computing
the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance
with <U>Section&nbsp;1.06</U>. In addition, the Borrower shall pay directly to the L/C Issuer for its own account the customary
issuance, presentation, amendment and other processing fees, and other standard costs and charges, of the L/C Issuer relating to
letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand
and are nonrefundable.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conflict
with Issuer Documents</U>. In the event of any conflict between the terms hereof and the terms of any Issuer Document, the terms
hereof shall control.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Letters
of Credit Issued for Subsidiaries</U>. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of
any obligations of, or is for the account of, a Subsidiary, the Borrower shall be obligated to reimburse the L/C Issuer hereunder
for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for
the account of Subsidiaries inures to the benefit of the Borrower, and that the Borrower&rsquo;s business derives substantial benefits
from the businesses of such Subsidiaries.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>2.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Swing
Line Loans</B>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>The
Swing Line</U>. Subject to the terms and conditions set forth herein, the Swing Line Lender, in reliance upon the agreements of
the other Lenders set forth in this <U>Section&nbsp;2.05</U>, may in its sole discretion make loans (each such loan, a &ldquo;<U>Swing
Line Loan</U>&rdquo;) to the Borrower from time to time on any Business Day during the Availability Period in an aggregate amount
not to exceed at any time outstanding the amount of the Swing Line Sublimit, notwithstanding the fact that such Swing Line Loans,
when aggregated with the Applicable Revolver Percentage of the Outstanding Amount of Revolver Committed Loans and L/C Obligations
of the Lender acting as Swing Line Lender, may exceed the amount of the Swing Line Lender&rsquo;s Revolver Commitment; <U>provided</U>,
<U>however</U>, that after giving effect to any Swing Line Loan, (i)&nbsp;the Outstanding Amount of Revolver Committed Loans and
Swing Line Loans and L/C Obligations shall not exceed the Aggregate Revolver Commitments, and (ii)&nbsp;the aggregate Outstanding
Amount of the Revolver Committed Loans of any Lender (other than the Swing Line Lender), <U>plus</U> such Lender&rsquo;s Applicable
Revolver Percentage of the Outstanding Amount of all L/C Obligations, <U>plus</U> such Lender&rsquo;s Applicable Revolver Percentage
of the Outstanding Amount of all Swing Line Loans shall not exceed such Lender&rsquo;s Revolver Loan Commitment, and <U>provided</U>,
<U>further</U>, that (A) the Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line
Loan and (B) Swing Line Loans may not be outstanding for more than ten (10) total Business Days (in the aggregate) during any calendar
month period. Within the foregoing limits, and subject to the other terms and conditions hereof, the Borrower may borrow under
this <U>Section&nbsp;2.05</U>, prepay under <U>Section&nbsp;2.06</U>, and reborrow under this <U>Section&nbsp;2.05</U>. Each Swing
Line Loan shall be a Base Rate Committed Loan. Immediately upon the making of a Swing Line Loan, each Lender shall be deemed to,
and hereby irrevocably and unconditionally agrees to, purchase from the Swing Line Lender a risk participation in such Swing Line
Loan in an amount equal to the product of such Lender&rsquo;s Applicable Revolver Percentage <U>times</U> the amount of such Swing
Line Loan.</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Borrowing
Procedures</U>. Each Swing Line Borrowing shall be made upon the Borrower&rsquo;s irrevocable notice to the Swing Line Lender and
the Administrative Agent, which may be given by telephone. Each such notice must be received by the Swing Line Lender and the Administrative
Agent not later than 1:00 p.m. on the requested borrowing date, and shall specify (i)&nbsp;the amount to be borrowed, which shall
be a minimum of $500,000, and (ii)&nbsp;the requested borrowing date, which shall be a Business Day. Each such telephonic notice
must be confirmed promptly by delivery to the Swing Line Lender and the Administrative Agent of a written Swing Line Loan Notice,
appropriately completed and signed by a Responsible Officer of the Borrower. Promptly after receipt by the Swing Line Lender of
any telephonic Swing Line Loan Notice, the Swing Line Lender will confirm with the Administrative Agent (by telephone or in writing)
that the Administrative Agent has also received such Swing Line Loan Notice and, if not, the Swing Line Lender will notify the
Administrative Agent (by telephone or in writing) of the contents thereof. Unless the Swing Line Lender has received notice (by
telephone or in writing) from the Administrative Agent (including at the request of any Lender) prior to 2:00 p.m. on the date
of the proposed Swing Line Borrowing (A)&nbsp;directing the Swing Line Lender not to make such Swing Line Loan as a result of the
limitations set forth in the first proviso to the first sentence of <U>Section&nbsp;2.05(a)</U>, or (B)&nbsp;that one or more of
the applicable conditions specified in <U>Article&nbsp;IV</U> is not then satisfied, then, subject to the terms and conditions
hereof, the Swing Line Lender will, not later than 3:00 p.m. on the borrowing date specified in such Swing Line Loan Notice, make
the amount of its Swing Line Loan available to the Borrower.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Refinancing
of Swing Line Loans</U>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Swing Line Lender at any time in its sole discretion may request, on behalf of the Borrower (which hereby irrevocably authorizes
the Swing Line Lender to so request on its behalf), that each Lender make a Revolving Loan Base Rate Committed Loan in an amount
equal to such Lender&rsquo;s Applicable Revolver Percentage of the amount of Swing Line Loans then outstanding. Such request shall
be made in writing (which written request shall be deemed to be a Committed Loan Notice for purposes hereof) and in accordance
with the requirements of <U>Section&nbsp;2.02</U>, without regard to the minimum and multiples specified therein for the principal
amount of Base Rate Committed Loans, but subject to the unutilized portion of the Aggregate Revolver Commitments and the conditions
set forth in <U>Section&nbsp;4.02</U>. The Swing Line Lender shall furnish the Borrower with a copy of the applicable Committed
Loan Notice promptly after delivering such notice to the Administrative Agent. Each Lender shall make an amount equal to its Applicable
Revolver Percentage of the amount specified in such Committed Loan Notice available to the Administrative Agent in immediately
available funds (and the Administrative Agent may apply Cash Collateral provided for this purpose for the account of the Swing
Line Lender at the Administrative Agent&rsquo;s Office not later than 3:00 p.m. on the day specified in such Committed Loan Notice
provided the Lenders have received a copy of the Committed Loan Notice by 1:00 p.m. on the day specified in such Committed Loan
Notice, whereupon, subject to <U>Section&nbsp;2.05(c)(ii)</U>, each Lender that so makes funds available shall be deemed to have
made a Base Rate Committed Loan to the Borrower in such amount. The Administrative Agent shall remit the funds so received to the
Swing Line Lender.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
for any reason any Swing Line Loan cannot be refinanced by such a Committed Borrowing in accordance with <U>Section&nbsp;2.05(c)(i)</U>,
the request for Base Rate Committed Loans submitted by the Swing Line Lender as set forth herein shall be deemed to be a request
by the Swing Line Lender that each of the Lenders fund its risk participation in the relevant Swing Line Loan and each Lender&rsquo;s
payment to the Administrative Agent for the account of the Swing Line Lender pursuant to <U>Section&nbsp;2.05(c)(i)</U> shall be
deemed payment in respect of such participation.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
any Lender fails to make available to the Administrative Agent for the account of the Swing Line Lender any amount required to
be paid by such Lender pursuant to the foregoing provisions of this <U>Section&nbsp;2.05(c)</U> by the time specified in <U>Section&nbsp;2.05(c)(i)</U>,
the Swing Line Lender shall be entitled to recover from such Lender (acting through the Administrative Agent), on demand, such
amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately
available to the Swing Line Lender at a rate per annum equal to the greater of the Federal Funds Rate and a rate determined by
the Swing Line Lender in accordance with banking industry rules on interbank compensation, plus any administrative, processing
or similar fees customarily charged by the Swing Line Lender in connection with the foregoing. If such Lender pays such amount
(with interest and fees as aforesaid), the amount so paid shall constitute such Lender&rsquo;s Committed Loan included in the relevant
Committed Borrowing or funded participation in the relevant Swing Line Loan, as the case may be. A certificate of the Swing Line
Lender submitted to any Lender (through the Administrative Agent) with respect to any amounts owing under this clause&nbsp;(iii)
shall be conclusive absent manifest error.</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Lender&rsquo;s obligation to make Committed Loans or to purchase and fund risk participations in Swing Line Loans pursuant to this
<U>Section&nbsp;2.05(c)</U> shall be absolute and unconditional and shall not be affected by any circumstance, including (A)&nbsp;any
setoff, counterclaim, recoupment, defense or other right which such Lender may have against the Swing Line Lender, the Borrower
or any other Person for any reason whatsoever, (B)&nbsp;the occurrence or continuance of a Default, or (C)&nbsp;any other occurrence,
event or condition, whether or not similar to any of the foregoing; <U>provided</U>, <U>however</U>, that each Lender&rsquo;s obligation
to make Committed Loans pursuant to this <U>Section&nbsp;2.05(c)</U> is subject to the conditions set forth in <U>Section&nbsp;4.02</U>.
No such funding of risk participations shall relieve or otherwise impair the obligation of the Borrower to repay Swing Line Loans,
together with interest as provided herein.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Repayment
of Participations</U>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At
any time after any Lender has purchased and funded a risk participation in a Swing Line Loan, if the Swing Line Lender receives
any payment on account of such Swing Line Loan, the Swing Line Lender will promptly distribute to such Lender its Applicable Revolver
Percentage thereof in the same funds as those received by the Swing Line Lender.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
any payment received by the Swing Line Lender in respect of principal or interest on any Swing Line Loan is required to be returned
by the Swing Line Lender under any of the circumstances described in <U>Section&nbsp;10.05</U> (including pursuant to any settlement
entered into by the Swing Line Lender in its discretion), each Lender shall pay to the Swing Line Lender its Applicable Revolver
Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount
is returned, at a rate per annum equal to the Federal Funds Rate. The Administrative Agent will make such demand upon the request
of the Swing Line Lender. The obligations of the Lenders under this clause shall survive the payment in full of the Obligations
and the termination of this Agreement.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Interest
for Account of Swing Line Lender</U>. The Swing Line Lender shall be responsible for invoicing the Borrower for interest on the
Swing Line Loans. Until each Lender funds its Base Rate Committed Loan or risk participation pursuant to this <U>Section&nbsp;2.05</U>
to refinance such Lender&rsquo;s Applicable Revolver Percentage of any Swing Line Loan, interest in respect of such Applicable
Revolver Percentage shall be solely for the account of the Swing Line Lender.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payments
Directly to Swing Line Lender</U>. The Borrower shall make all payments of principal and interest in respect of the Swing Line
Loans directly to the Swing Line Lender.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>2.06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Prepayments</B>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Borrower may, upon notice to the Administrative Agent, at any time or from time to time voluntarily prepay Committed Loans in whole
or in part without premium or penalty; <U>provided</U> that (i)&nbsp;such notice must be received by the Administrative Agent not
later than 11:00 a.m. (A)&nbsp;two Business Days prior to any date of prepayment of Eurodollar Rate Committed Loans and (B)&nbsp;on
the date of prepayment of Base Rate Committed Loans; (ii)&nbsp;any prepayment of Eurodollar Rate Committed Loans shall be in a
principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof; and (iii)&nbsp;any prepayment of Base Rate Committed
Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof or, in each case, if less, the
entire principal amount thereof then outstanding. Each such notice shall specify the date and amount of such prepayment, whether
such prepayment shall be of a Revolving Loan or a Term Loan, and the Type(s) of Committed Loans to be prepaid and, if Eurodollar
Rate Committed Loans are to be prepaid, the Interest Period(s) of such Loans. If Borrower shall fail to notify if the prepayment
shall be a Revolving Loan or a Term Loan, then the prepayment shall be deemed to be of a Revolving Loan. The Administrative Agent
will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender<FONT STYLE="color: black">&rsquo;</FONT>s
Applicable Percentage of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and
the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a Eurodollar
Rate Committed Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required
pursuant to <U>Section&nbsp;3.05</U>, if any. Subject to <U>Section&nbsp;2.18</U>, each such prepayment shall be applied to the
Committed Loans of the Lenders in accordance with their respective Applicable Percentages.</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Borrower may, upon notice to the Swing Line Lender (with a copy to the Administrative Agent), at any time or from time to time,
voluntarily prepay Swing Line Loans in whole or in part without premium or penalty; <U>provided</U> that (i)&nbsp;such notice must
be received by the Swing Line Lender and the Administrative Agent not later than 1:00 p.m. on the date of the prepayment, and (ii)&nbsp;any
such prepayment shall be in a minimum principal amount of $100,000. Each such notice shall specify the date and amount of such
prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in
such notice shall be due and payable on the date specified therein.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
for any reason the Total Outstandings at any time exceed the Aggregate Commitments then in effect, the Borrower shall immediately
upon demand prepay Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; <U>provided</U>,
<U>however</U>, that the Borrower shall not be required to Cash Collateralize the L/C Obligations pursuant to this <U>Section&nbsp;2.06(c)</U>
unless after the prepayment in full of the Committed Loans and Swing Line Loans the Total Outstandings exceed the Aggregate Commitments
then in effect.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>2.07&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Termination
or Reduction of Revolver Commitments.</B> The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Revolver
Commitments, or from time to time permanently reduce the Aggregate Revolver Commitments; <U>provided </U>that (i)&nbsp;any such
notice shall be received by the Administrative Agent not later than 11:00 a.m. five Business Days prior to the date of termination
or reduction, (ii)&nbsp;any such partial reduction shall be in an aggregate amount of $5,000,000 or any whole multiple of $1,000,000
in excess thereof, and (iii)&nbsp;the Borrower shall not terminate or reduce the Aggregate Revolver Commitments if, after giving
effect thereto and to any concurrent prepayments hereunder, the Total Outstandings would exceed the Aggregate Commitments. The
Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Commitments.
Any reduction of the Aggregate Revolver Commitments shall be applied to the Commitment of each Lender according to its Applicable
Revolver Percentage. All fees accrued until the effective date of any termination of the Aggregate Revolver Commitments shall be
paid on the effective date of such termination.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>2.08&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Repayment
of Loans</B>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Borrower shall repay to the Lenders on the Revolver Maturity Date the aggregate principal amount of Revolver Committed Loans outstanding
on such date.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Borrower shall repay to the Lenders on the Term Loan Maturity Date the aggregate principal amount of Term Committed Loans outstanding
on such date.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Borrower shall repay each Swing Line Loan on the earliest to occur of (i)&nbsp;the date five (5) Business Days after such Loan
is made; (ii) the date, if any, in a given calendar month on which Swing Line Loans have been outstanding hereunder for ten (10)
total Business Days (in the aggregate) during such calendar month and (iii)&nbsp;the Revolver Maturity Date.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Borrower shall Fully Satisfy all other Obligations (to the extent not specified in subsections <U>2.08(a)</U>, <U>2.08 (b)</U>
or <U>2.08(c)</U> above) on or prior to the earlier of (i) the date on which payment of such Obligations are required to be paid
pursuant to the terms hereof or of the other Loan Documents, and (ii) the later of (1) the Revolver Maturity Date, and (2) the
Term Loan Maturity Date; <U>provided</U>, <U>however</U>, that L/C Obligations that have been fully Cash Collateralized as of the
date that is thirty (30) days prior to the Letter of Credit Issuance Expiration Date in accordance with <U>Section 2.17(a)</U>
hereof may remain outstanding for a period of up to twelve (12) months following the Revolver Maturity Date (subject to the earlier
expiration of such L/C Obligations pursuant to the terms of the applicable Letter of Credit).</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>2.09&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Interest</B>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to the provisions of subsection&nbsp;(b) below, (i)&nbsp;each Eurodollar Rate Committed Loan shall bear interest on the outstanding
principal amount thereof for each Interest Period at a rate per annum equal to the Eurodollar Rate for such Interest Period <U>plus</U>
the applicable Eurodollar Rate margin identified in the definition of Applicable Rate; (ii)&nbsp;each Base Rate Committed Loan
shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to
the Base Rate <U>plus</U> the applicable Base Rate margin identified in the definition of Applicable Rate and (iii)&nbsp;each Swing
Line Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum
equal to the Base Rate <U>plus</U> the applicable Base Rate margin identified in the definition of Applicable Rate.</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
any amount of principal of any Loan is not paid within five (5) days after the date when due (other than at the Revolver Maturity
Date, whether at stated maturity or by acceleration, as to which such five (5) day period shall not apply), such amount shall thereafter
bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by
applicable Laws.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
any amount (other than principal of any Loan) payable by the Borrower under any Loan Document is not paid within five (5) days
after the date when due (other than at the Revolver Maturity Date, whether at stated maturity or by acceleration, as to which such
five (5) day period shall not apply), then upon the request of the Required Lenders, such amount shall thereafter bear interest
at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
the request of the Required Lenders, while any Event of Default exists, the Borrower shall pay interest on the principal amount
of all outstanding Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the
fullest extent permitted by applicable Laws.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued
and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest
on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may
be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment,
and before and after the commencement of any proceeding under any Debtor Relief Law.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>2.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Fees.</B>
In addition to certain fees described in subsections&nbsp;(h) and (i) of <U>Section&nbsp;2.04:</U></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Facility
Fee</U>. The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Applicable Percentage,
a facility fee equal to the applicable facility fee percentage identified in the definition of Applicable Rate per annum <U>times</U>
the actual daily amount of the Aggregate Commitments (or, if the Aggregate Commitments have terminated, on the Outstanding Amount
of all Committed Loans, Swing Line Loans and L/C Obligations), regardless of usage<FONT STYLE="color: black">, subject to adjustment
as provided in <U>Section&nbsp;2.18</U></FONT>. The facility fee shall accrue at all times during the Availability Period (and
thereafter so long as any Committed Loans, Swing Line Loans or L/C Obligations remain outstanding), including at any time during
which one or more of the conditions in <U>Article&nbsp;IV</U> is not met, and shall be due and payable quarterly in arrears on
the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing
Date, and on the last day of the Availability Period (and, if applicable, thereafter on demand). The facility fee shall be calculated
quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed
and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Other
Fees</U>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without
duplication of the requirements hereof, the Borrower shall pay to the Administrative Agent, and MLPF&amp;S, for their own respective
account fees in the amounts and at the times specified in the Fee Letter. Such fees shall be fully earned when paid and shall not
be refundable for any reason whatsoever unless mutually agreed by the parties to the Fee Letter.</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Borrower
shall pay to the Lenders such fees as shall have been separately agreed upon in writing (and approved by MLPF&amp;S and Administrative
Agent) in the amounts and at the times so specified. Such fees shall be fully earned when paid and shall not be refundable for
any reason whatsoever.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>2.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Computation
of Interest and Fees; Retroactive Adjustments of Applicable Rate.</B></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
computations of interest for Base Rate Committed Loans (including Base Rate Committed Loans determined by reference to the Eurodollar
Rate) shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations
of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest,
as applicable, being paid than if computed on the basis of a 365-day year). Interest shall accrue on each Loan for the day on which
the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid,
<U>provided</U> that any Loan that is repaid on the same day on which it is made shall, subject to <U>Section&nbsp;2.13(a)</U>,
bear interest for one day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive
and binding for all purposes, absent manifest error.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If,
as a result of any restatement of or other adjustment to the financial statements of the Borrower or for any other reason, the
Borrower or the Lenders determine that (i)&nbsp;the Leverage Ratio as calculated by the Borrower as of any applicable date was
inaccurate and (ii)&nbsp;a proper calculation of the Leverage Ratio would have resulted in higher pricing for such period, the
Borrower shall immediately and retroactively be obligated to pay to the Administrative Agent for the account of the applicable
Lenders or the L/C Issuer, as the case may be, promptly on demand by the Administrative Agent (or, after the occurrence of an actual
or deemed entry of an order for relief with respect to the Borrower under the Bankruptcy Code of the United States, automatically
and without further action by the Administrative Agent, any Lender or the L/C Issuer), an amount equal to the excess of the amount
of interest and fees that should have been paid for such period over the amount of interest and fees actually paid for such period.
This paragraph shall not limit the rights of the Administrative Agent, any Lender or the L/C Issuer, as the case may be, under
Sections&nbsp;2.04(c)(iii), 2.04(h) and <U>2.09(b)</U> or under <U>Article&nbsp;VIII</U>. The Borrower&rsquo;s obligations under
this paragraph shall survive for a period of two fiscal quarters of FSP beyond the termination of the Aggregate Commitments and
the repayment of all other Obligations hereunder.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>2.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Evidence
of Debt</B>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Credit Extensions made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and by the
Administrative Agent in the ordinary course of business. The accounts or records maintained by the Administrative Agent and each
Lender shall be conclusive absent manifest error of the amount of the Credit Extensions made by the Lenders to the Borrower and
the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect
the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict
between the accounts and records maintained by any Lender and the accounts and records of the Administrative Agent in respect of
such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. Upon the request
of any Lender made through the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative
Agent) a Note, which shall evidence such Lender&rsquo;s Loans in addition to such accounts or records. Each Lender may attach schedules
to its Note and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and payments with respect thereto.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition to the accounts and records referred to in subsection&nbsp;(a), each Lender and the Administrative Agent shall maintain
in accordance with its usual practice accounts or records evidencing the purchases and sales by such Lender of participations in
Letters of Credit and Swing Line Loans. In the event of any conflict between the accounts and records maintained by the Administrative
Agent and the accounts and records of any Lender in respect of such matters, the accounts and records of the Administrative Agent
shall control in the absence of manifest error.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>2.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Payments
Generally; Administrative Agent&rsquo;s Clawback</B>.</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>General</U>.
All payments to be made by the Borrower shall be made without condition or deduction for any counterclaim, defense, recoupment
or setoff. Except as otherwise expressly provided herein, all payments by the Borrower hereunder shall be made to the Administrative
Agent, for the account of the respective Lenders to which such payment is owed, at the Administrative Agent<FONT STYLE="color: black">&rsquo;</FONT>s
Office in Dollars and in immediately available funds not later than 1:00 p.m. on the date specified herein. The Administrative
Agent will promptly distribute to each Lender its Applicable Percentage (or other applicable share as provided herein) of such
payment in like funds as received by wire transfer to such Lender&rsquo;s Lending Office and if such payments by Borrower are made
to Administrative Agent by 1:00 p.m., the Administrative Agent will distribute such funds to Lenders specified in this <U>Section
2.13(a)</U> on that same Business Day. All payments received by the Administrative Agent after 1:00 p.m. shall be deemed received
on the next succeeding Business Day (and shall be distributed to the Lenders in accordance with this <U>Section 2.13(a)</U> on
such next succeeding Business Day) and any applicable interest or fee shall continue to accrue. If any payment to be made by the
Borrower shall come due on a day other than a Business Day, payment shall be made on the next following Business Day, and such
extension of time shall be reflected in computing interest or fees, as the case may be.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Funding
by Lenders; Presumption by Administrative Agent</U>. Unless the Administrative Agent shall have received notice from a Lender prior
to the proposed date of any Committed Borrowing of Eurodollar Rate Committed Loans (or, in the case of any Committed Borrowing
of Base Rate Committed Loans, prior to 12:00 noon on the date of such Committed Borrowing) that such Lender will not make available
to the Administrative Agent such Lender&rsquo;s share of such Committed Borrowing, the Administrative Agent may assume that such
Lender has made such share available on such date in accordance with <U>Section&nbsp;2.02</U> (or, in the case of a Committed Borrowing
of Base Rate Committed Loans, that such Lender has made such share available in accordance with and at the time required by <U>Section&nbsp;2.02</U>)
and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has
not in fact made its share of the applicable Committed Borrowing available to the Administrative Agent, then the applicable Lender
and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount in immediately
available funds with interest thereon, for each day from and including the date such amount is made available to the Borrower to
but excluding the date of payment to the Administrative Agent, at (A)&nbsp;in the case of a payment to be made by such Lender,
the greater of the Federal Funds Rate and a rate determined by the Administrative Agent in accordance with banking industry rules
on interbank compensation, plus any administrative, processing or similar fees customarily charged by the Administrative Agent
in connection with the foregoing, and (B)&nbsp;in the case of a payment to be made by the Borrower, the interest rate applicable
to Base Rate Committed Loans. If the Borrower and such Lender shall pay such interest to the Administrative Agent for the same
or an overlapping period, the Administrative Agent shall promptly remit to the Borrower the amount of such interest paid by the
Borrower for such period. If such Lender pays its share of the applicable Committed Borrowing to the Administrative Agent, then
the amount so paid shall constitute such Lender&rsquo;s Committed Loan included in such Committed Borrowing. Any payment by the
Borrower shall be without prejudice to any claim the Borrower may have against a Lender that shall have failed to make such payment
to the Administrative Agent.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payments
by Borrower; Presumptions by Administrative Agent</U>. Unless the Administrative Agent shall have received notice from the Borrower
prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the L/C Issuer hereunder
that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has made such payment on such
date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the L/C Issuer, as the case
may be, the amount due. In such event, if the Borrower has not in fact made such payment, then each of the Lenders or the L/C Issuer,
as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such
Lender or the L/C Issuer, in immediately available funds with interest thereon, for each day from and including the date such amount
is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate
and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">A notice of the
Administrative Agent to any Lender or the Borrower with respect to any amount owing under this subsection&nbsp;(b) shall be conclusive,
absent manifest error.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Failure
to Satisfy Conditions Precedent</U>. If any Lender makes available to the Administrative Agent funds for any Loan to be made by
such Lender as provided in the foregoing provisions of this <U>Article&nbsp;II</U>, and such funds are not made available to the
Borrower by the Administrative Agent because the conditions to the applicable Credit Extension set forth in <U>Article&nbsp;IV</U>
are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall promptly return such funds (in
like funds as received from such Lender) to such Lender, without interest.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Obligations
of Lenders Several</U>. The obligations of the Lenders hereunder to make Committed Loans, to fund participations in Letters of
Credit and Swing Line Loans and to make payments pursuant to <U>Section&nbsp;10.04(c)</U> are several and not joint. The failure
of any Lender to make any Committed Loan, to fund any such participation or to make any payment under <U>Section&nbsp;10.04(c)</U>
on any date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and no
Lender shall be responsible for the failure of any other Lender to so make its Committed Loan, to purchase its participation or
to make its payment under <U>Section&nbsp;10.04(c)</U>, except as provided in <U>Section 2.18(a)(iv)</U>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Funding
Source</U>. Nothing herein shall be deemed to obligate any Lender to obtain the funds for any Loan in any particular place or manner
or to constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan in any particular place
or manner.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>2.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Sharing
of Payments by Lenders. </B>If any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain payment
in respect of any principal of or interest on any of the Committed Loans made by it, or the participations in L/C Obligations or
in Swing Line Loans held by it resulting in such Lender&rsquo;s receiving payment of a proportion of the aggregate amount of such
Committed Loans or participations and accrued interest thereon greater than its <U>pro rata </U>share thereof as provided herein,
then the Lender receiving such greater proportion shall (a)&nbsp;notify the Administrative Agent of such fact, and (b)&nbsp;purchase
(for cash at face value) participations in the Committed Loans and subparticipations in L/C Obligations and Swing Line Loans of
the other Lenders, or make such other adjustments as shall be equitable, so that the benefit of all such payments shall be shared
by the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Committed
Loans and other amounts owing them, <U>provided </U>that:</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
any such participations or subparticipations are purchased and all or any portion of the payment giving rise thereto is recovered,
such participations or subparticipations shall be rescinded and the purchase price restored to the extent of such recovery, without
interest; and</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
provisions of this Section shall not be construed to apply to (x)&nbsp;any payment made by or on behalf of the Borrower pursuant
to and in accordance with the express terms of this Agreement (including the application of funds arising from the existence of
a Defaulting Lender), (y)&nbsp;the application of Cash Collateral provided for in <U>Section&nbsp;2.17</U>, or (z)&nbsp;any payment
obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Committed Loans or subparticipations
in L/C Obligations or Swing Line Loans to any assignee or participant, other than an assignment to the Borrower or any Affiliate
thereof (as to which the provisions of this Section shall apply).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower consents
to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a participation
pursuant to the foregoing arrangements may exercise against Borrower rights of setoff and counterclaim with respect to such participation
as fully as if such Lender were a direct creditor of such Borrower in the amount of such participation.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>2.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Extension
of Revolver Maturity Date</B>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="letter-spacing: -0.15pt"><U>Initial
Revolver Maturity Date</U>. Subject to extension pursuant to the terms and conditions set forth in clause (b) of this <U>Section
2.15</U> and subject to the provisions of clause (c) of this <U>Section 2.15</U>, the Revolver Maturity Date shall be the Revolver
Initial Maturity Date.</FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="letter-spacing: -0.15pt"><U>Extended
Revolver Maturity Date Option</U>. Not more than 90 days and not less than 30 days prior to the Revolver Initial Maturity Date,
the Borrower may request in writing that the Lenders extend the term of this Agreement to the Revolver Extended Maturity Date.
Such extension option shall be subject solely to the satisfaction of the following requirements:</FONT></P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;at
the Revolver Initial Maturity Date, there shall not exist any Default or Event of Default;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Borrower shall, on the Revolver Initial Maturity Date, deliver to the Administrative Agent a certificate of each Borrower dated
as of the Revolver Initial Maturity Date (in sufficient copies for each Lender) signed by a Responsible Officer (A)&nbsp;certifying
and attaching the resolutions adopted by such Borrower approving or consenting to such extension, and (B) certifying and attaching
an update to <U>Schedule 5.13 </U>setting forth a complete and accurate list of all Sponsored REITS of Borrower, and (C)&nbsp;certifying
that, before and after giving effect to such extension, (1)&nbsp;the representations and warranties contained in <U>Article&nbsp;V</U>
of the Credit Agreement are true and correct in all material respects on and as of the Revolver Initial Maturity Date, except (x)
to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct
in all material respects as of such earlier date, and (y) except that for purposes of this <U>Section&nbsp;2.15</U>, (I) the representations
and warranties contained in subsections&nbsp;(a), (b) and (c) of <U>Section&nbsp;5.05</U> shall be deemed to refer to the most
recent statements furnished pursuant to clauses&nbsp;(a) and (b), respectively, of <U>Section&nbsp;6.01</U>; and (II) the representations
and warranties contained in <U>Section 5.13</U> shall be deemed to refer to the most recent update to <U>Schedule 5.13</U> furnished
pursuant to <U>Sections 2.15</U> and <U>6.02(a)(ii)</U>, and shall be true and correct in all material respects as of the effective
date of such update, and (III) the representations and warranties contained in the first and second sentences of <U>Section 5.21</U>
shall be deemed to refer to the most recent update to <U>Schedule 5.21</U> furnished pursuant to <U>Section 6.02(a)(i)</U>, and
shall be true and correct in all material respects as of the effective date of such update, and (2)&nbsp;no Default or Event of
Default exists<FONT STYLE="letter-spacing: -0.15pt">; and </FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Borrower shall, at the Revolver Initial Maturity Date, deliver to the Administrative Agent (for the pro rata benefit of the Lenders
based on their respective Commitments) an extension fee equal to twenty hundredths of one percent (0.20%) of the then-existing
Aggregate Revolver Commitments (whether funded or unfunded), provided, however, that the Commitment of a Defaulting Lender shall
be excluded from the Aggregate Commitments upon which the extension fee is calculated to the extent that such Defaulting Lender&rsquo;s
Commitment has not been reallocated to or assumed by the non-Defaulting Lenders (the &ldquo;<U>Excluded Commitment</U>&rdquo;),
and provided, further that, without duplication of any amounts paid by Borrower, to the extent such Defaulting Lender ceases to
be a Defaulting Lender, Borrower shall deliver to the Administrative Agent, within ten days of written notice from Administrative
Agent, a fee for payment to such Defaulting Lender equal to the product of (x) twenty hundredths of one percent (0.20%) of the
Excluded Commitment multiplied by (y) a ratio the numerator of which is the number of days remaining to the Revolver Extended Maturity
Date from the date the Defaulting Lender ceases to be a Defaulting Lender and the denominator of which is 365.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conflicting
Provisions</U>. This Section&nbsp;shall supersede any provisions in <U>Section 10.01</U> to the contrary.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>2.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Increase
in Commitments</B>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Request
for Increase</U>. Provided there exists no Default, upon notice to the Administrative Agent (which shall promptly notify the Lenders),
the Borrower may from time to time request an increase in the Aggregate Revolver Commitments by an amount (for all such requests,
in the aggregate) not exceeding $250,000,000; <U>provided</U> that (I) any such request for an increase shall be in a minimum amount
of $25,000,000, and (II)&nbsp;the Borrower may make a maximum of three (3) such requests. At the time of sending such notice, the
Borrower (in consultation with the Administrative Agent) shall specify the time period within which each Lender is requested to
respond (which shall in no event be less than ten Business Days from the date of delivery of such notice to the Lenders). Any increase
of the Aggregate Revolver Commitments pursuant to this <U>Section 2.16</U> shall be subject to the agreement of one or more Lenders
or Eligible Assignees (who may or may not then be a Lender hereunder) to provide such increased Revolver Loan Commitments pursuant
to the terms hereof.</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Lender
Elections to Increase</U>. Each Lender shall notify the Administrative Agent within such time period whether or not it agrees to
increase its Revolver Loan Commitment and, if so, whether by an amount equal to, greater than, or less than its Applicable Revolver
Percentage of such requested increase. Any Lender not responding within such time period shall be deemed to have declined to increase
its Revolver Loan Commitment.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notification
by Administrative Agent; Additional Lenders</U>. The Administrative Agent shall notify the Borrower and each Lender of the Lenders&rsquo;
responses to each request made hereunder. To achieve the full amount of a requested increase and subject to the approval of the
Administrative Agent, the L/C Issuer and the Swing Line Lender (which approvals shall not be unreasonably withheld, conditioned
or delayed), the Borrower and/or MLPF&amp;S may also invite additional Eligible Assignees to become Lenders pursuant to a joinder
agreement in form and substance reasonably satisfactory to the Borrower, Administrative Agent and their respective counsel. Arranger
shall use its best efforts to procure such additional or increased Revolver Loan Commitments, and facilitate such increase in the
Aggregate Revolver Commitments, and Borrower shall reasonably cooperate with Arranger to obtain new Commitments to support any
such increase in the Revolver Loan Commitments, provided that Borrower will coordinate all such efforts (including, without limitation,
any communications (written, electronic or oral) with any prospective lending source) through the Arranger. In no event shall any
Lender be obligated to provide an additional Revolver Loan Commitment.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Effective
Date and Allocations</U>. If the Aggregate Revolver Commitments are increased in accordance with this Section, the Administrative
Agent and the Borrower shall determine the effective date (the &ldquo;<U>Increase Effective Date</U>&rdquo;) and the final allocation
of such increase. The Administrative Agent shall promptly notify the Borrower and the Lenders of the final allocation of such increase
and the Increase Effective Date.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions
to Effectiveness of Increase</U>. As a condition precedent to such increase, the Borrower shall deliver to the Administrative Agent
a certificate of each Borrower dated as of the Increase Effective Date (in sufficient copies for each Lender) signed by a Responsible
Officer (i)&nbsp;certifying and attaching the resolutions adopted by such Borrower approving or consenting to such increase, and
(ii)&nbsp;certifying that, before and after giving effect to such increase, (A)&nbsp;the representations and warranties contained
in <U>Article&nbsp;V</U> and the other Loan Documents are true and correct in all material respects on and as of the Increase Effective
Date, except (1) to the extent that such representations and warranties specifically refer to an earlier date, in which case they
are true and correct in all material respects as of such earlier date, and (2) except that for purposes of this <U>Section&nbsp;2.16</U>,
(x) the representations and warranties contained in subsections&nbsp;(a), (b) and (c) of <U>Section&nbsp;5.05</U> shall be deemed
to refer to the most recent statements furnished pursuant to clauses&nbsp;(a) and (b), respectively, of <U>Section&nbsp;6.01</U>;
and (y) the representations and warranties contained in <U>Section 5.13(a)</U> shall be deemed to refer to the most recent update
to <U>Schedule 5.13(a)</U> furnished pursuant to <U>Section 6.02(a)(ii)</U> and shall be true and correct in all material respects
as of the effective date of such update, (z) the representations and warranties contained in the first and second sentences of
<U>Section 5.21</U> shall be deemed to refer to the most recent update to <U>Schedule 5.21</U> furnished pursuant to <U>Section
6.02(a)(i)</U>, and shall be true and correct in all material respects as of the effective date of such update, and (B)&nbsp;no
Default or Event of Default exists. The Borrower shall prepay any Revolver Committed Loans outstanding on the Increase Effective
Date (and pay any additional amounts required pursuant to <U>Section&nbsp;3.05</U>) to the extent necessary to keep the outstanding
Revolver Committed Loans ratable with any revised Applicable Revolver Percentages arising from any nonratable increase in the Revolver
Loan Commitments under this Section. The Applicable Revolver Percentages of the Lenders shall be recalculated concurrently with
the effectiveness of any increase in the Aggregate Revolver pursuant to this <U>Section 2.16</U>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conflicting
Provisions</U>. This Section shall supersede any provisions in <U>Section 10.01</U> to the contrary. Without limiting the foregoing,
an increase in Aggregate Revolver Commitments pursuant to this Section 2.16 and any amendments to this Agreement made to evidence
such increase shall not require the consent of any Lender not participating in such increase.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>2.17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Cash
Collateral</B>.</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="color: black"><U>Certain
Credit Support Events</U>. </FONT>Upon the request of the Administrative Agent or the L/C Issuer (i)&nbsp;if the L/C Issuer has
honored any full or partial drawing request under any Letter of Credit and such drawing has resulted in an L/C Borrowing which
Borrower has not reimbursed in the time and in the manner required by this Agreement, or (ii)&nbsp;if, as of the Letter of Credit
Issuance Expiration Date, any L/C Obligation for any reason remains outstanding, the Borrower shall, in each case, immediately
Cash Collateralize the then Outstanding Amount of the applicable L/C Obligations. At any time that there shall exist a Defaulting
Lender, within 3 Business Days after the request of the Administrative Agent or any L/C Issuer or Swing Line Lender with Fronting
Exposure (or to the extent such request is made by such L/C Issuer or Swing Line Lender, within such greater number of Business
Days as such L/C Issuer and Swing Line Lender with Fronting Exposure and the Administrative Agent, to the extent it has Fronting
Exposure with respect to Swing Line Loans, at such time may agree in their discretion), the Borrower shall deliver to the Administrative
Agent Cash Collateral in an amount sufficient to cover all Fronting Exposure applicable to such Defaulting Lender (after giving
effect to <U>Section&nbsp;2.18(a)(iv)</U> and any Cash Collateral provided by the Defaulting Lender).</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="color: black"><U>Grant
of Security Interest</U>. </FONT>All Cash Collateral (other than credit support not constituting funds subject to deposit) shall
be maintained in blocked, interest bearing deposit accounts at Bank of America. The Borrower, and to the extent provided by any
Lender, such Lender, shall grant (and subject to the control of) the Administrative Agent, for the benefit of the Administrative
Agent, the L/C Issuer and the Lenders (including the Swing Line Lender), and shall agree to maintain, a first priority security
interest in all such cash, deposit accounts and all balances therein, and all other property so provided as collateral pursuant
hereto, and in all proceeds of the foregoing, all as security for the obligations to which such Cash Collateral may be applied
pursuant to <U>Section&nbsp;2.17(c)</U>. If at any time the Administrative Agent determines that Cash Collateral is subject to
any right or claim of any Person other than the Administrative Agent as herein provided, or that the total amount of such Cash
Collateral is less than the applicable Fronting Exposure and other obligations secured thereby, the Borrower or the relevant Defaulting
Lender will, promptly upon demand by the Administrative Agent, pay or provide to the Administrative Agent additional Cash Collateral
in an amount sufficient to eliminate such deficiency.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="color: black"><U>Application</U></FONT>.<FONT STYLE="font-family: Times New Roman Bold,serif">
</FONT>Notwithstanding anything to the contrary contained in this Agreement, <FONT STYLE="color: black">Cash Collateral provided
under any of this <U>Section&nbsp;2.17</U> or <U>Sections&nbsp;2.04</U>, <U>2.05</U>, <U>2.06</U>, <U>2.18 </U>or <U>8.02</U> in
respect of Letters of Credit or Swing Line Loans shall be held and applied </FONT>to the satisfaction of the specific L/C Obligations,
Swing Line Loans, obligations to fund participations therein (including, as to Cash Collateral provided by a Defaulting Lender,
any interest accrued on such obligation) and other obligations for which the Cash Collateral was so provided, prior to any other
application of such property as may be provided for herein.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Release</U>.
Cash Collateral (or the appropriate portion thereof) provided to reduce Fronting Exposure or other obligations shall be released
promptly following (i)&nbsp;the elimination of the applicable Fronting Exposure or other obligations giving rise thereto (including
by the termination of Defaulting Lender status of the applicable Lender (or, as appropriate, its assignee following compliance
with <U>Section&nbsp;10.06(b)(vi)</U>)) or (ii)&nbsp;the Administrative Agent&rsquo;s good faith determination that there exists
excess Cash Collateral; <U>provided</U>, however, (x)&nbsp;that Cash Collateral furnished by or on behalf of a Borrower shall not
be released during the continuance of a Default or an Event of Default (and following application as provided in this <U>Section&nbsp;2.17</U>
may, to the extent there exists an Event of Default, be otherwise applied in accordance with <U>Section&nbsp;8.03</U>), and (y)&nbsp;the
Person providing Cash Collateral and the L/C Issuer or Swing Line Lender, as applicable, may agree that Cash Collateral shall not
be released but instead held to support future anticipated Fronting Exposure or other obligations.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>2.18&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Defaulting
Lenders</B>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Adjustments</U>.
Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender, then, until such
time as that Lender is no longer a Defaulting Lender, to the extent permitted by applicable Law:</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Waivers
and Amendments</U>. That Defaulting Lender&rsquo;s right to approve or disapprove any amendment, waiver or consent with respect
to this Agreement shall be restricted as set forth in <U>Section&nbsp;10.01</U>.</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Reallocation
of Payments</U>. Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account
of that Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to <U>Article&nbsp;VIII</U> or otherwise, and
including any amounts made available to the Administrative Agent by that Defaulting Lender pursuant to <U>Section&nbsp;10.08</U>),
shall be applied at such time or times as may be determined by the Administrative Agent as follows: <I>first</I>, to the payment
of any amounts owing by that Defaulting Lender to the Administrative Agent hereunder; <I>second</I>, to the payment on a pro rata
basis of any amounts owing by that Defaulting Lender to the L/C Issuer or Swing Line Lender hereunder; <I>third</I>, if so determined
by the Administrative Agent or requested by the L/C Issuer or Swing Line Lender, to be held as Cash Collateral for future funding
obligations of that Defaulting Lender of any participation in any Swing Line Loan or Letter of Credit; <I>fourth</I>, as the Borrower
may request (so long as no Default or Event of Default exists), to the funding of any Loan in respect of which that Defaulting
Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; <I>fifth</I>,
if so determined by the Administrative Agent and the Borrower,<FONT STYLE="color: black"> to be held in a non-interest bearing
deposit account and released in order to satisfy</FONT> obligations of that Defaulting Lender to fund Loans under this Agreement;
<I>sixth</I>, to the payment of any amounts owing to the Lenders, the L/C Issuer or Swing Line Lender as a result of any judgment
of a court of competent jurisdiction obtained by any Lender, the L/C Issuer or Swing Line Lender against that Defaulting Lender
as a result of that Defaulting Lender&rsquo;s breach of its obligations under this Agreement; <I>seventh</I>, so long as no Event
of Default exists, to the payment of any amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction
obtained by the Borrower against that Defaulting Lender as a result of that Defaulting Lender&rsquo;s breach of its obligations
under this Agreement, provided that if an Event of Default exists, such payment shall be applied in accordance with <U>Section
8.03</U>; and <I>eighth</I>, to that Defaulting Lender or as otherwise directed by a court of competent jurisdiction; <U>provided</U>
that if (x)&nbsp;such payment is a payment of the principal amount of any Loans or L/C Borrowings in respect of which that Defaulting
Lender has not fully funded its appropriate share and (y)&nbsp;such Loans or L/C Borrowings were made at a time when the conditions
set forth in <U>Section&nbsp;4.02</U> were satisfied or waived, such payment shall be applied solely to pay the Loans of, and L/C
Borrowings owed to, all non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or L/C
Borrowings owed to, that Defaulting Lender. Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that
are applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this <U>Section&nbsp;2.18(a)(ii)</U>
shall be deemed paid to and redirected by that Defaulting Lender, and each Lender irrevocably consents hereto.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Certain
Fees</U>. That Defaulting Lender (x)&nbsp;shall be entitled to receive any facility fee pursuant to <U>Section&nbsp;2.10(a)</U>
for any period during which that Lender is a Defaulting Lender only to extent allocable to<FONT STYLE="color: black"> the sum of
(1)&nbsp;the Outstanding Amount of the Committed Loans funded by it and (2)&nbsp;its Applicable Revolver Percentage of the stated
amount of Letters of Credit and Swing Line Loans for which it has provided Cash Collateral pursuant to <U>Section&nbsp;2.04</U></FONT>,<FONT STYLE="color: black">
<U>Section&nbsp;2.05</U>, <U>Section&nbsp;2.17</U>, or <U>Section&nbsp;2.18(a)(ii)</U>, as applicable </FONT>(and the Borrower
shall (A)&nbsp;be required to pay to each of the L/C Issuer and the Swing Line Lender, as applicable, the amount of such fee allocable
to its Fronting Exposure arising from that Defaulting Lender and (B)&nbsp;not be required to pay the remaining amount of such fee
that otherwise would have been required to have been paid to that Defaulting Lender) and (y)&nbsp;shall be limited in its right
to receive Letter of Credit Fees as provided in <U>Section&nbsp;2.04(h)</U>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Reallocation
of Applicable Revolver Percentages to Reduce Fronting Exposure</U>. During any period in which there is a Defaulting Lender, for
purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in
Letters of Credit or Swing Line Loans pursuant to <U>Sections&nbsp;2.04</U> and <U>2.05</U>, the &ldquo;Applicable Revolver Percentage&rdquo;
of each non-Defaulting Lender shall be computed without giving effect to the Commitment of that Defaulting Lender; <U>provided</U>,
that, (i)&nbsp;each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender,
no Default or Event of Default exists, provided that, on any date thereafter during such period, to the extent that such Default
or Event of Default has been cured or waived, such reallocation shall occur as of such later date; and (ii)&nbsp;the aggregate
obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans
shall not exceed the positive difference, if any, of (1)&nbsp;the Commitment of that non-Defaulting Lender <U>minus</U> (2)&nbsp;the
aggregate Outstanding Amount of the Committed Loans of that Lender.</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-weight: normal; color: black"><U>Defaulting
Lender Cure</U></FONT>. If the Borrower, the Administrative Agent, Swing Line Lender and the L/C Issuer agree in writing in their
sole discretion that a Defaulting Lender should no longer be deemed to be a Defaulting Lender, the Administrative Agent will so
notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth
therein (which may include arrangements with respect to any Cash Collateral), that Lender will, to the extent applicable, purchase
that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine to
be necessary to cause the Committed Loans and funded and unfunded participations in Letters of Credit and Swing Line Loans to be
held on a pro rata basis by the Lenders in accordance with their applicable Applicable Percentages (without giving effect to <U>Section&nbsp;2.18(a)(iv)</U>),
whereupon that Lender will cease to be a Defaulting Lender; <U>provided</U> that no adjustments will be made retroactively with
respect to fees accrued or payments made by or on behalf of the Borrower while that Lender was a Defaulting Lender; and <U>provided</U>,
<U>further</U>, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting
Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender&rsquo;s having
been a Defaulting Lender.</P>

<P STYLE="font: normal 10pt Times New Roman Bold; margin: 0 0 12pt; text-transform: uppercase; text-align: center; text-indent: 0in"><B>ARTICLE
III.<BR>
TAXES, YIELD PROTECTION AND ILLEGALITY</b></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>3.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Taxes</B>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payments
Free of Taxes; Obligation to Withhold; Payments on Account of Taxes</U>. iii)&nbsp;Any and all payments by or on account of any
obligation of the Borrower hereunder or under any other Loan Document shall to the extent permitted by applicable Laws be made
free and clear of and without reduction or withholding for any Indemnified Taxes. If, however, applicable Laws require the Borrower
or the Administrative Agent to withhold or deduct any Taxes, such Taxes shall be withheld or deducted in accordance with such Laws
as determined by the Borrower or the Administrative Agent, as the case may be, taking account the information and documentation
to be delivered pursuant to subsection&nbsp;(e) below.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the Borrower or the Administrative Agent shall be required by applicable Law to withhold or<B> </B>deduct any Taxes, including
both United States federal backup withholding and withholding taxes, from any payment, then (A) the Administrative Agent shall
withhold or make such deductions as are determined by the Administrative Agent to be required based upon the information and documentation
it has received pursuant to subsection (e) below, (B) the Administrative Agent shall timely pay the full amount withheld or deducted
to the relevant Governmental Authority in accordance with applicable Law, and (C) to the extent that the withholding or deduction
is made on account of Indemnified Taxes, the sum payable by the Borrower shall be increased as necessary so that after any required
withholding or the making of all required deductions (including deductions applicable to additional sums payable under this Section)
the Administrative Agent, Lender or L/C Issuer, as the case may be, receives an amount equal to the sum it would have received
had no such withholding or deduction been made.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payment
of Other Taxes by the Borrower</U>. Without limiting the provisions of subsection&nbsp;(a) above, the Borrower shall timely pay
any Other Taxes to the relevant Governmental Authority in accordance with applicable Laws.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Tax
Indemnifications</U>. iv)&nbsp;Without limiting the provisions of subsection&nbsp;(a) or (b) above, the Borrower shall, and does
hereby, indemnify the Administrative Agent, each Lender and the L/C Issuer, and shall make payment in respect thereof within 10
days after written demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted
on or attributable to amounts payable under this Section) withheld or deducted by the Borrower or the Administrative Agent or paid
by the Administrative Agent, such Lender or the L/C Issuer, as the case may be, and any penalties, interest and reasonable expenses
arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted
by the relevant Governmental Authority. If the Borrower determines in its good faith judgment that a reasonable basis exists for
contesting an Indemnified Tax, the Administrative Agent and each Lender shall reasonably cooperate, at no cost or expense to Administrative
Agent or Lender, with the Borrower in challenging such Indemnified Tax; provided that neither the Administrative Agent nor any
Lender shall be required to make</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0in">available
its Tax returns (or any other information relating to its Taxes that it deems confidential) to the Borrower or any other Person.
The Borrower shall also, and does hereby, indemnify the Administrative Agent, and shall make payment in respect thereof within
10 days after written demand therefor, for any amount which a Lender or the L/C Issuer for any reason fails to pay indefeasibly
to the Administrative Agent as required by clause&nbsp;(ii) of this subsection; provided that, such Lender or the L/C Issuer, as
the case may be, shall indemnify the Borrower to the extent of any payment the Borrower makes to the Administrative Agent pursuant
to this sentence. Any claim against the Borrower pursuant to this Section must be made within 180 days of the payment by the Administrative
Agent or the Lender to which such claim relates and must provide reasonable detail regarding the amount of the claim and the reason
thereof. A reasonably detailed certificate as to the amount of any such payment or liability delivered to the Borrower by a Lender
or the L/C Issuer (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a
Lender or the L/C Issuer, shall be conclusive absent manifest error.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without
limiting the provisions of subsection&nbsp;(a) or (b) above, each Lender and the L/C Issuer shall, and does hereby, indemnify the
Borrower and the Administrative Agent, and shall make payment in respect thereof within 10 days after written demand therefor,
against any and all Excluded Taxes attributable to such Lender or the L/C Issuer, as the case may be, and any and all related losses,
claims, liabilities, penalties, interest and expenses (including the fees, charges and disbursements of any counsel for the Borrower
or<B> </B>the Administrative Agent) incurred by or asserted against the Borrower or the Administrative Agent by any Governmental
Authority as a result of the failure by such Lender or the L/C Issuer, as the case may be, to deliver, or as a result of the inaccuracy,
inadequacy or deficiency of, any documentation required to be delivered by such Lender or the L/C Issuer, as the case may be, to
the Borrower or the Administrative Agent pursuant to subsection&nbsp;(e). A reasonably detailed certificate as to the amount of
such payment or liability delivered to any Lender or the L/C Issuer by the Administrative Agent or the Borrower shall be conclusive
absent manifest error. Each Lender and the L/C Issuer hereby authorizes the Administrative Agent to set off and apply any and all
amounts at any time owing to such Lender or the L/C Issuer, as the case may be, under this Agreement or any other Loan Document
against any amount due to the Administrative Agent under this clause&nbsp;(ii). The agreements in this clause&nbsp;(ii) shall survive
the resignation and/or replacement of the Administrative Agent, any assignment of rights by, or the replacement of, a Lender or
the L/C Issuer, the termination of the Aggregate Commitments and the repayment, satisfaction or discharge of all other Obligations.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Evidence
of Payments</U>. <B> </B>As soon as practicable, after any payment of Taxes by the Borrower or by the Administrative Agent to a
Governmental Authority as provided in this <U>Section&nbsp;3.01</U>, the Borrower shall deliver to the Administrative Agent or
the Administrative Agent shall deliver to the Borrower, as the case may be, the original or a certified copy of a receipt issued
by such Governmental Authority evidencing such payment, a copy of any return required by Laws to report such payment or other evidence
of such payment reasonably satisfactory to the Borrower or the Administrative Agent, as the case may be.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Status
of Lenders; Tax Documentation</U>. v)&nbsp;Each Lender shall deliver to the Borrower and to the Administrative Agent, at the time
or times prescribed by applicable Laws or when reasonably requested by the Borrower or the Administrative Agent, such properly
completed and executed documentation prescribed by applicable Laws or by the taxing authorities of any jurisdiction and such other
reasonably requested information as will permit the Borrower or the Administrative Agent, as the case may be, to determine (A)&nbsp;whether
or not payments made hereunder or under any other Loan Document are subject to Taxes, (B)&nbsp;if applicable, the required rate
of withholding or deduction, and (C)&nbsp;such Lender&rsquo;s entitlement to any available exemption from, or reduction of, applicable
Taxes in respect of all payments to be made to such Lender by the Borrower pursuant to this Agreement or otherwise to establish
such Lender&rsquo;s status for withholding tax purposes in the applicable jurisdiction.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without
limiting the generality of the foregoing, if the Borrower is resident for tax purposes in the United States,</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(A)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
Lender that is a &ldquo;United States person&rdquo; within the meaning of Section 7701(a)(30) of the Code shall deliver to the
Borrower and the Administrative Agent executed originals of Internal Revenue Service Form W-9 or such other documentation or information
prescribed by applicable Laws or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or
the Administrative Agent, as the case may be, to determine whether or not such Lender is subject to backup withholding or information
reporting requirements; and</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(B)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;each
Foreign Lender shall deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested by the
recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter
upon the request of the Borrower or the Administrative Agent, but only if such Foreign Lender is legally entitled to do so), whichever
of the following is applicable:</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-align: justify; text-indent: 0.5in">(I)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;executed
originals of Internal Revenue Service Form W-8BEN claiming eligibility for benefits of an income tax treaty to which the United
States is a party and/or certifying non-U.S. status,</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-align: justify; text-indent: 0.5in">(II)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;executed
originals of Internal Revenue Service Form W-8ECI,</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-align: justify; text-indent: 0.5in">(III)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;executed
originals of Internal Revenue Service Form W-8IMY and all required supporting documentation,</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-align: justify; text-indent: 0.5in">(IV)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in
the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under section&nbsp;881(c) of the Code,
(x)&nbsp;a certificate to the effect that such Foreign Lender is not (A)&nbsp;a &ldquo;bank&rdquo; within the meaning of section&nbsp;881(c)(3)(A)
of the Code, (B)&nbsp;a &ldquo;10 percent shareholder&rdquo; of the Borrower within the meaning of section 881(c)(3)(B) of the
Code, or (C)&nbsp;a &ldquo;controlled foreign corporation&rdquo; described in section&nbsp;881(c)(3)(C) of the Code and (y)&nbsp;executed
originals of Internal Revenue Service Form W-8BEN, or</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-align: justify; text-indent: 0.5in">(V)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;executed
originals of any other form prescribed by applicable Laws as a basis for claiming exemption from or a reduction in United States
federal withholding tax together with such supplementary documentation as may be prescribed by applicable Laws to permit the Borrower
or the Administrative Agent to determine the withholding or deduction required to be made.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Lender shall promptly (A)&nbsp;notify the Borrower and the Administrative Agent of any change in circumstances which would modify
or render invalid any claimed exemption or reduction, and (B)&nbsp;take such steps as shall not be materially disadvantageous to
it, in the reasonable judgment of such Lender, and as may be reasonably necessary (including the re-designation of its Lending
Office) to avoid any requirement of applicable Laws of any jurisdiction that the Borrower or the Administrative Agent make any
withholding or deduction for taxes from amounts payable to such Lender.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">If a
payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender
fails to comply with any requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable),
such Lender shall (A) enter into such agreements with the IRS as necessary to establish an exemption from withholding under FATCA;
(B) comply with any certification, documentation, information, reporting or other requirement necessary to establish an exemption
from withholding under FATCA; (C) provide any documentation reasonably requested by the Borrower or the Administrative Agent sufficient
for the Administrative Agent and the Borrower to comply with their respective obligations, if any, under FATCA and to determine
that such Lender has complied with such applicable requirements or to determine the amount to withhold from payment to such Lender;
and (D) provide a certification signed by the chief financial officer, principal accounting officer, treasurer or controller of
such Lender certifying that such Lender has complied with any necessary requirements to establish an exemption from withholding
under FATCA. To the extent that the relevant documentation provided pursuant to this paragraph is rendered obsolete or inaccurate
in any material respect as a result of changes in circumstances with respect to the status of a Lender or L/C Issuer, such Lender
or L/C Issuer shall, to the extent permitted by applicable Law, deliver to the Borrower and the Administrative Agent revised and/or
updated documentation sufficient for the Borrower and the Administrative Agent to confirm such Lender&rsquo;s or such L/C Issuer&rsquo;s
compliance with their respective obligations under FATCA</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Treatment
of Certain Refunds</U>. Unless required by applicable Laws, at no time shall the Administrative Agent have any obligation to file
for or otherwise pursue on behalf of a Lender or the L/C Issuer, or have any obligation to pay to any Lender or the L/C Issuer,
any refund of Taxes withheld or deducted from funds paid for the account of such Lender or the L/C Issuer, as the case may be.
If the Administrative Agent, any Lender or the L/C Issuer determines, in good faith, that it has received a refund of any Taxes
as to which it has been indemnified by the Borrower or with respect to which the Borrower has paid additional amounts pursuant
to this Section, it shall pay to the Borrower an amount equal to such refund (but only to the extent of indemnity payments made,
or additional amounts paid, by the Borrower under this Section with respect to the Taxes giving rise to such refund), net of all
out-of-pocket expenses incurred by the Administrative Agent, such Lender or the L/C Issuer, as the case may be, and without interest
(other than any interest paid by the relevant Governmental Authority with respect to such refund), <U>provided</U> that the Borrower,
upon the request of the Administrative Agent, such Lender or the L/C Issuer, agrees to repay the amount paid over to the Borrower
(plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to the Administrative Agent, such
Lender or the L/C Issuer in the event the Administrative Agent, such Lender or the L/C Issuer is required to repay such refund
to such Governmental Authority. This subsection shall not be construed to require the Administrative Agent, any Lender or the L/C
Issuer to make available its tax returns (or any other information relating to its taxes that it deems confidential) to the Borrower
or any other Person.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>3.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Illegality.</B>
If any Lender determines that any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful,
for any Lender or its applicable Lending Office to make, maintain or fund Loans whose interest is determined by reference to the
Eurodollar Rate, or to determine or charge interest rates based upon the Eurodollar Rate, or any Governmental Authority has imposed
material restrictions on the authority of such Lender to purchase or sell, or to take deposits of, Dollars in the London interbank
market, then, on notice thereof by such Lender to the Borrower through the Administrative Agent, (i)&nbsp;any obligation of such
Lender to make or continue Eurodollar Rate Committed Loans or to convert Base Rate Committed Loans to Eurodollar Rate Committed
Loans shall be suspended, and (ii)&nbsp;if such notice asserts the illegality of such Lender making or maintaining Base Rate Committed
Loans the interest rate on which is determined by reference to the Eurodollar Rate component of the Base Rate, the interest rate
on which Base Rate Committed Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative
Agent without reference to the Eurodollar Rate component of the Base Rate, in each case until such Lender notifies the Administrative
Agent and the Borrower that the circumstances giving rise to such determination no longer exist. Upon receipt of such notice, (x)&nbsp;the
Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all Eurodollar
Rate Committed Loans of such Lender to Base Rate Committed Loans (the interest rate on which Base Rate Committed Loans of such
Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the Eurodollar
Rate component of the Base Rate), either on the last day of the Interest Period therefor, if such Lender may lawfully continue
to maintain such Eurodollar Rate Committed Loans to such day, or immediately, if such Lender may not lawfully continue to maintain
such Eurodollar Rate Committed Loans and (y)&nbsp;if such notice asserts the illegality of such Lender determining or charging
interest rates based upon the Eurodollar Rate, the Administrative Agent shall during the period of such suspension compute the
Base Rate applicable to such Lender without reference to the Eurodollar Rate component thereof until the Administrative is advised
in writing by such Lender that it is no longer illegal for such Lender to determine or charge interest rates based upon the Eurodollar
Rate. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted,
together with any additional amounts referenced pursuant to <U>Section 3.05</U>, if any.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>3.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Inability
to Determine Rates.</B> If the Required Lenders determine that for any reason in connection with any request for a Eurodollar Rate
Committed Loan or a conversion to or continuation thereof that (a)&nbsp;Dollar deposits are not being offered to banks in the London
interbank eurodollar market for the applicable amount and Interest Period of such Eurodollar Rate Committed Loan, (b)&nbsp;adequate
and reasonable means do not exist for determining the Eurodollar Base Rate for any requested Interest Period with respect to a
proposed Eurodollar Rate Committed Loan or in connection with an existing or proposed Base Rate Loan, or (c)&nbsp;the Eurodollar
Base Rate for any requested Interest Period with respect to a proposed Eurodollar Rate Committed Loan does not adequately and fairly
reflect the cost to such Lenders of funding such Loan, the Administrative Agent will promptly so notify the Borrower and each Lender.
Thereafter, (x)&nbsp;the obligation of the Lenders to make or maintain Eurodollar Rate Committed Loans shall be suspended, and
(y)&nbsp;in the event of a determination described in the preceding sentence with respect to the Eurodollar Rate component of the
Base Rate, the utilization of the Eurodollar Rate component in determining the Base Rate shall be suspended, in each case until
the Administrative Agent (upon the instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, the Borrower
may revoke any pending request for a Borrowing of, conversion to or continuation of Eurodollar Rate Committed Loans or, failing
that, will be deemed to have converted such request into a request for a Committed Borrowing of Base Rate Committed Loans in the
amount specified therein.</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>3.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Increased
Costs</B>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Increased
Costs Generally</U>. If any Change in Law shall:</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;impose,
modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement against assets
of, deposits with or for the account of, or credit extended or participated in by, any Lender (except any reserve requirement reflected
in the Eurodollar Rate) or the L/C Issuer;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;subject
any Lender or the L/C Issuer to any tax of any kind whatsoever with respect to this Agreement, any Letter of Credit, any participation
in a Letter of Credit or any Eurodollar Rate Committed Loan made by it, or change the basis of taxation of payments to such Lender
or the L/C Issuer in respect thereof (except for Indemnified Taxes covered by <U>Section&nbsp;3.01</U> and the imposition of, or
any change in the rate of, any Excluded Tax payable by such Lender or the L/C Issuer); or</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;impose
on any Lender or the L/C Issuer or the London interbank market any other condition, cost or expense affecting this Agreement or
Eurodollar Rate Committed Loans made by such Lender or any Letter of Credit or participation therein;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">and the result of any of the foregoing
shall be to increase the cost to such Lender of making or maintaining any Loan the interest on which is determined by reference
to the Eurodollar Rate (or of maintaining its obligation to make any such Loan), or to increase the cost to such Lender or the
L/C Issuer of participating in, issuing or maintaining any Letter of Credit (or of maintaining its obligation to participate in
or to issue any Letter of Credit), or to reduce the amount of any sum received or receivable by such Lender or the L/C Issuer hereunder
(whether of principal, interest or any other amount) then, upon request of such Lender or the L/C Issuer, the Borrower will pay
to such Lender or the L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or the L/C
Issuer, as the case may be, for such additional costs incurred or reduction suffered; provided that the Borrower shall not be liable
to any Lender or L/C Issuer for costs incurred more than one hundred eighty (180) days prior to receipt by the Borrower of the
certificate referred to in clause (c) below from such Lender or L/C Issuer.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Capital
Requirements</U>. If any Lender or the L/C Issuer determines that any Change in Law affecting such Lender or the L/C Issuer or
any Lending Office of such Lender or such Lender&rsquo;s or the L/C Issuer&rsquo;s holding company, if any, regarding capital requirements
has or would have the effect of reducing the rate of return on such Lender&rsquo;s or the L/C Issuer&rsquo;s capital or on the
capital of such Lender&rsquo;s or the L/C Issuer&rsquo;s holding company, if any, as a consequence of this Agreement, the Commitments
of such Lender or the Loans made by, or participations in Letters of Credit held by, such Lender, or the Letters of Credit issued
by the L/C Issuer, to a level below that which such Lender or the L/C Issuer or such Lender&rsquo;s or the L/C Issuer&rsquo;s holding
company would have achieved but for such Change in Law (taking into consideration such Lender&rsquo;s or the L/C Issuer&rsquo;s
policies and the policies of such Lender&rsquo;s or the L/C Issuer&rsquo;s holding company with respect to capital adequacy), then
from time to time, to the extent that such reduction in rate of return is not reflected n the Base Rate or the Eurodollar Rate,
the Borrower will pay to such Lender or the L/C Issuer, as the case may be, such additional amount or amounts as will compensate
such Lender or the L/C Issuer or such Lender&rsquo;s or the L/C Issuer&rsquo;s holding company for any such reduction suffered;
provided that the Borrower shall not be liable to any Lender or L/C Issuer for costs incurred more than one hundred eighty (180)
days prior to receipt by the Borrower of the certificate referred to in clause&nbsp;(c) below from such Lender or L/C Issuer. Each
Lender and the L/C Issuer shall allocate such cost increases among its customers in good faith and on an equitable basis.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Certificates
for Reimbursement</U>. A certificate of a Lender or the L/C Issuer setting forth the amount or amounts necessary to compensate
such Lender or the L/C Issuer or its holding company, as the case may be, as specified in subsection&nbsp;(a) or (b) of this Section
and delivered to the Borrower shall be conclusive absent manifest error. The Borrower shall pay such Lender or the L/C Issuer,
as the case may be, the amount shown as due on any such certificate within ten (10) days after receipt thereof.</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Delay
in Requests</U>. Failure or delay on the part of any Lender or the L/C Issuer to demand compensation pursuant to the foregoing
provisions of this Section shall not constitute a waiver of such Lender&rsquo;s or the L/C Issuer&rsquo;s right to demand such
compensation, <U>provided</U> that the Borrower shall not be required to compensate a Lender or the L/C Issuer pursuant to the
foregoing provisions of this Section for any increased costs incurred or reductions suffered more than nine (9) months prior to
the date that such Lender or the L/C Issuer, as the case may be, notifies the Borrower of the Change in Law giving rise to such
increased costs or reductions and of such Lender&rsquo;s or the L/C Issuer&rsquo;s intention to claim compensation therefor (except
that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the nine-month period referred
to above shall be extended to include the period of retroactive effect thereof).</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>3.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Compensation
for Losses.</B> Upon demand of any Lender (with a copy to the Administrative Agent) from time to time, the Borrower shall promptly
compensate such Lender for and hold such Lender harmless from any loss, cost or expense incurred by it as a result of:</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
continuation, conversion, payment or prepayment of any Loan other than a Base Rate Committed Loan on a day other than the last
day of the Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise);</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
failure by the Borrower (for a reason other than the failure of such Lender to make a Loan) to prepay, borrow, continue or convert
any Loan other than a Base Rate Committed Loan on the date or in the amount notified by the Borrower; or</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
assignment of a Eurodollar Rate Committed Loan on a day other than the last day of the Interest Period therefor as a result of
a request by the Borrower pursuant to <U>Section&nbsp;10.13</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">including any loss of anticipated profits
and any loss or expense arising from the liquidation or reemployment of funds obtained by it to maintain such Loan or from fees
payable to terminate the deposits from which such funds were obtained. The Borrower shall also pay any customary administrative
fees charged by such Lender in connection with the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">For purposes of calculating amounts
payable by the Borrower to the Lenders under this <U>Section&nbsp;3.05</U>, each Lender shall be deemed to have funded each Eurodollar
Rate Committed Loan made by it at the Eurodollar Base Rate used in determining the Eurodollar Rate for such Loan by a matching
deposit or other borrowing in the London interbank eurodollar market for a comparable amount and for a comparable period, whether
or not such Eurodollar Rate Committed Loan was in fact so funded.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>3.06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Mitigation
Obligations; Replacement of Lenders</B>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Designation
of a Different Lending Office</U>. If any Lender requests compensation under <U>Section&nbsp;3.04</U>, or the Borrower is required
to pay any additional amount to any Lender, the L/C Issuer, or any Governmental Authority for the account of any Lender or the
L/C Issuer pursuant to <U>Section&nbsp;3.01</U>, or if any Lender gives a notice pursuant to <U>Section&nbsp;3.02</U>, then such
Lender or the L/C Issuer shall, as applicable, use reasonable efforts to designate a different Lending Office for funding or booking
its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in
the reasonable judgment of such Lender or the L/C Issuer, such designation or assignment (i)&nbsp;would eliminate or reduce amounts
payable pursuant to <U>Section&nbsp;3.01</U> or <U>3.04</U>, as the case may be, in the future, or eliminate the need for the notice
pursuant to <U>Section&nbsp;3.02</U>, as applicable, and (ii)&nbsp;in each case, would not subject such Lender or the L/C Issuer,
as the case may be, to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender or the L/C Issuer,
as the case may be. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender or the L/C Issuer
in connection with any such designation or assignment.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Replacement
of Lenders</U>. If any Lender requests compensation under <U>Sections&nbsp;3.04 or 3.05</U>, or if the Borrower is required to
pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to <U>Section&nbsp;3.01</U>,
or if a Lender gives notice under <U>Section 3.02</U>, the Borrower may replace such Lender in accordance with <U>Section&nbsp;10.13</U>.</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>3.07&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Survival.</B>
All of the Borrower<FONT STYLE="color: black">&rsquo;s</FONT> obligations under this <U>Article&nbsp;III </U>shall survive termination
of the Aggregate Commitments, repayment of all other Obligations hereunder, and resignation of the Administrative Agent.</P>

<P STYLE="font: normal 10pt Times New Roman Bold; margin: 0 0 12pt; text-transform: uppercase; text-align: center; text-indent: 0in"><B>ARTICLE
IV.<BR>
CONDITIONS PRECEDENT TO CREDIT EXTENSIONS</B></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>4.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Conditions
of Initial Credit Extension.</B> The obligation of the L/C Issuer and each Lender to make its initial Credit Extension hereunder
is subject to satisfaction of the following conditions precedent:</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Administrative Agent&rsquo;s receipt of the following, each of which shall be originals or telecopies (followed promptly by originals)
unless otherwise specified, each properly executed by a Responsible Officer of the signing Borrower, each dated the Closing Date
(or, in the case of certificates of governmental officials, a recent date before the Closing Date) and each in form and substance
satisfactory to the Administrative Agent and each of the Lenders:</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;fully
executed counterparts of this Agreement, sufficient in number for distribution to the Administrative Agent, each Lender and FSP;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
Note for the Revolving Loans and the Term Loan executed by the Borrower in favor of each Lender requesting a Note;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;such
certificates of resolutions or other action, incumbency certificates and/or other certificates of Responsible Officers of each
Borrower as the Administrative Agent may reasonably require evidencing the identity, authority and capacity of each Responsible
Officer thereof authorized to act as a Responsible Officer in connection with this Agreement and the other Loan Documents to which
such Borrower is a party;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;such
documents and certifications as the Administrative Agent may reasonably require to evidence that each Borrower is duly organized
or formed, and that each Borrower is validly existing, in good standing and qualified to engage in business in each jurisdiction
where its ownership, lease or operation of properties or the conduct of its business requires such qualification, except to the
extent that failure to do so would not reasonably be expected to have a Material Adverse Effect;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
favorable opinion of counsel to the Borrower (on behalf of each Borrower with the exception of FSP Forest Park IV NC Limited Partnership)
addressed to the Administrative Agent and each Lender, as to the matters set forth in <U>Exhibit&nbsp;B</U>;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
certificate signed by a Responsible Officer certifying (A) that each Consolidated Party is in compliance in all material respects
with all existing contractual financial obligations except where the failure to comply would not reasonably be expected to have
a Material Adverse Effect, (B) all governmental, shareholder and third party consents and approvals necessary for the Borrower
to enter into the Loan Documents and perform thereunder, if any, have been obtained, except where the failure to obtain would not
reasonably be expected to have a Material Adverse Effect, (C) immediately after giving effect to this Agreement, the other Loan
Documents and all the transactions contemplated therein to occur on such date, (1) to such Responsible Officer&rsquo;s knowledge,
no Default or Event of Default exists, (2) all representations and warranties contained herein are true and correct in all material
respects, and (3) the Borrower is in pro forma compliance with each of the financial covenants set forth in <U>Section 7.11</U>
(and including detailed calculations of each such financial covenant) for the fiscal quarter ending June 30, 2012 (which calculation
has been delivered to the Administrative Agent prior to Closing); (D)&nbsp;that the conditions specified in <U>Sections&nbsp;4.02(a)</U>
and <U>(b)</U>&nbsp;have been satisfied; (E)&nbsp;that, to such Responsible Officer&rsquo;s knowledge, there has been no event
or circumstance since the date of the Audited Financial Statements that has had or would be reasonably expected to have, either
individually or in the aggregate, a Material Adverse Effect<FONT STYLE="color: black">; and </FONT>(F)&nbsp;a calculation of the
Leverage Ratio as of the last day of the fiscal quarter ending June 30, 2012;</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;evidence
that all insurance required to be maintained pursuant to the Loan Documents has been obtained and is in effect; and</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(viii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;such
other assurances, certificates, documents or consents as the Administrative Agent, the L/C Issuer, the Swing Line Lender or the
Required Lenders reasonably may require.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
shall not have occurred since June 30, 2012 any event or condition that has had or would be reasonably expected, either individually
or in the aggregate, to have a Material Adverse Effect, as determined by Administrative Agent.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
shall not exist any action, suit, investigation, or proceeding pending, or to the knowledge of Borrower, threatened in writing,
in any court or before any arbitrator or Governmental Authority that would reasonably be expected to have a Material Adverse Effect,
as determined by the Administrative Agent.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
fees required to be paid on or before the Closing Date shall have been paid and all reimbursable expenses for which invoices have
been presented to FSP on or before the Closing Date shall have been paid.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
waived by the Administrative Agent, the Borrower shall have paid all reasonable fees, charges and disbursements of counsel to the
Administrative Agent (directly to such counsel if requested by the Administrative Agent) to the extent invoiced to FSP prior to
or on the Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Without limiting the
generality of the provisions of the last paragraph of <U>Section&nbsp;9.03</U>, for purposes of determining compliance with the
conditions specified in this <U>Section&nbsp;4.01</U>, each Lender that has signed this Agreement shall be deemed to have consented
to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved
by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior
to the proposed Closing Date specifying its objection thereto.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>4.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Conditions
to all Credit Extensions. </B>The obligation of each Lender to honor any Request for Credit Extension (other than a Committed Loan
Notice requesting only a conversion of Committed Loans to the other Type, or a continuation of Committed Loans) is subject to the
following conditions precedent:</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
representations and warranties of the Borrower contained in <U>Article&nbsp;V</U> of this Agreement shall be true and correct in
all material respects on and as of the date of such Credit Extension, except (i) to the extent that such representations and warranties
specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, and (ii) except that
for purposes of this <U>Section&nbsp;4.02</U>, (1) the representations and warranties contained in subsections&nbsp;(a), (b) and
(c) of <U>Section&nbsp;5.05</U> shall be deemed to refer to the most recent statements furnished pursuant to clauses&nbsp;(a) and
(b), respectively, of <U>Section&nbsp;6.01</U>; and (2) the representations and warranties contained in <U>Section 5.13(a)</U>
shall be deemed to refer to the most recent update to <U>Schedule 5.13(a)</U> furnished pursuant to <U>Section 6.02(a)(ii)</U>,
and shall be true and correct in all material respects as of the effective date of such update, and (3) the representations and
warranties contained in the first and second sentences of <U>Section 5.21</U> shall be deemed to refer to the most recent update
to <U>Schedule 5.21</U> furnished pursuant to <U>Section 6.02(a)(i)</U>, and shall be true and correct in all material respects
as of the effective date of such update.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Default or Event of Default shall exist, or would result from such proposed Credit Extension or from the application of the proceeds
thereof.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Administrative Agent and, if applicable, the L/C Issuer or the Swing Line Lender shall have received a Request for Credit Extension
in accordance with the requirements hereof, together with <FONT STYLE="letter-spacing: -0.15pt">a Certificate to Accompany Request
for Credit Extension of a Responsible Officer of the Borrower in the form of <U>Exhibit H</U> attached hereto</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Each Request for Credit
Extension (other than a Committed Loan Notice requesting only a conversion of Committed Loans to the other Type or a continuation
of Committed Loans) submitted by the Borrower shall be deemed to be a representation and warranty that the conditions specified
in <U>Sections&nbsp;4.02(a)</U> and <U>(b)</U> have been satisfied on and as of the date of the applicable Credit Extension.</P>

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<P STYLE="font: normal 10pt Times New Roman Bold; margin: 0 0 12pt; text-transform: uppercase; text-align: center; text-indent: 0in"><B>ARTICLE
V.<BR>
REPRESENTATIONS AND WARRANTIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Borrower represents
and warrants to the Administrative Agent and the Lenders that:</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>5.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Existence,
Qualification and Power.</B> Each Borrower (a)&nbsp;is duly organized or formed and validly existing under the Laws of the jurisdiction
of its incorporation or organization, (b)&nbsp;has all requisite power and authority and all requisite governmental licenses, authorizations,
consents and approvals to (i)&nbsp;own or lease its assets and carry on its business and (ii)&nbsp;execute, deliver and perform
its obligations under the Loan Documents to which it is a party, and (c)&nbsp;is in good standing, as applicable, under the Laws
of the jurisdiction of its incorporation and is duly qualified and is licensed and, as applicable, in good standing under the Laws
of each jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification
or license; except in each case referred to in clause&nbsp;(b)(i) or (c), to the extent that failure to do so would not reasonably
be expected to have a Material Adverse Effect.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>5.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Authorization;
No Contravention.</B> The execution, delivery and performance by each Borrower of each Loan Document to which such Person is party,
have been duly authorized by all necessary corporate or other organizational action, and do not and will not (a)&nbsp;contravene
the terms of any of such Person&rsquo;s Organization Documents; (b)&nbsp;conflict with or result in any breach or contravention
of, or the creation of any Lien under, or require any payment to be made under (i)&nbsp;any Contractual Obligation to which such
Person is a party or affecting such Person or the properties of such Person or any of its Subsidiaries or (ii)&nbsp;any order,
injunction, writ or decree of any Governmental Authority or any arbitral award to which such Person or its property is subject;
or (c)&nbsp;violate any Law.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>5.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Governmental
Authorization; Other Consents. </B> No approval, consent, exemption, authorization, or other action by, or notice to, or filing
with, any Governmental Authority or any other Person is necessary or required in connection with the execution and delivery of,
and the performance of the Borrower&rsquo;s obligations under this Agreement or any other Loan Document, except where such approval,
consent, exemption, authorization, action, notice or filing has been obtained or made, and except where the failure to do so would
not reasonably be expected to have a Material Adverse Effect.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>5.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Binding
Effect.</B> This Agreement has been, and each other Loan Document, when delivered hereunder, will have been, duly executed and
delivered by each Borrower that is party thereto. This Agreement constitutes, and each other Loan Document when so delivered will
constitute, a legal, valid and binding obligation of such Borrower, enforceable against each Borrower that is party thereto in
accordance with its terms, except as enforceability is limited by bankruptcy, insolvency, reorganization, moratorium or other laws
relating to or affecting generally the enforcement of creditors&rsquo; rights and except to the extent that availability of the
remedy of specific performance or injunctive relief is subject to the discretion of the court before which any proceeding therefore
may be brought.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>5.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Financial
Statements; No Material Adverse Effect</B>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Audited Financial Statements (i) were prepared in accordance with GAAP consistently applied throughout the period covered thereby,
except as otherwise expressly noted therein; (ii) fairly present in all material respects the financial condition of the Borrower
and their Subsidiaries as of the date thereof and their results of operations for the period covered thereby in accordance with
GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; and (iii) show all
material indebtedness and other material liabilities, direct or contingent, of the Borrower and their Subsidiaries as of the date
thereof.</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
unaudited consolidated balance sheet of the Borrower and their Subsidiaries dated June 30, 2012, and the related consolidated statements
of income or operations, shareholders&rsquo; equity and cash flows for the fiscal quarter ended on that date (i) were prepared
in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein,
and (ii) fairly present in all material respects the financial condition of the Borrower and their Subsidiaries as of the date
thereof and their results of operations for the period covered thereby, subject, in the case of clauses&nbsp;(i) and (ii), to the
absence of footnotes and to normal year-end audit adjustments. <U>Schedule 5.05</U> sets forth all material indebtedness and other
liabilities, direct or contingent, of the Borrower and their consolidated Subsidiaries as of the Closing Date not otherwise disclosed
or referenced (or otherwise contemplated) in the Form 10-Q report of FSP filed with the SEC for the most recent fiscal quarter
ended prior to the Closing Date.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Since
the date of the Audited Financial Statements, there has been no event or circumstance, either individually or in the aggregate,
that has had or would reasonably be expected to have a Material Adverse Effect.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>5.06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Litigation.</B>
There are no actions, suits, proceedings, claims or disputes pending or, to the knowledge of the Borrower, threatened in writing,
at law, in equity, in arbitration or before any Governmental Authority, by or against the Borrower or any of their Subsidiaries
or against any of their properties or revenues that (a)&nbsp;question the validity of this Agreement or any other Loan Document,
or any of the Credit Extensions contemplated hereby, or (b)&nbsp;except as specifically disclosed in <U>Schedule&nbsp;5.06,</U>
either individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect, and there has been no
material adverse change in the status, or financial effect on any Borrower or any Subsidiary thereof, of the matters described
on <U>Schedule&nbsp;5.06.</U></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>5.07&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>No
Default.</B> Neither any Borrower nor any Subsidiary thereof is in default under or with respect to any Contractual Obligation
that would, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. No Default has occurred
and is continuing or would result from the consummation of the transactions contemplated by this Agreement or any other Loan Document.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>5.08&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Ownership
of Property; Liens.</B> Each Borrower and each Subsidiary has good record and marketable title in fee simple to, or valid leasehold
interests in, all real property necessary or used in the ordinary conduct of its business, except for Permitted Liens and except
for such defects in title as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.
The property of the Borrower and its Subsidiaries is subject to no Liens, other than Permitted Liens.<U> </U></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>5.09&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Environmental
Compliance.</B> Except as set forth on <U>Schedule 5.09,</U> no Borrower or any Subsidiary (a) has received any written notice
or other written communication or otherwise has knowledge of any Environmental Liability of Borrower or any Subsidiary which would
individually or in the aggregate reasonably be expected to have a Material Adverse Effect arising in connection with: (i) any non
compliance with or violation of the requirements of any Environmental Law by any Borrower or Subsidiary, or any permit issued under
any Environmental Law to any Borrower or Subsidiary; or (ii) the Release or threatened Release of any Hazardous Materials into
the environment; or (b) to its knowledge, has threatened or actual liability in connection with the Release or threatened Release
of any Hazardous Materials into the environment which would individually or in the aggregate reasonably be expected to have a Material
Adverse Effect. Except as would not reasonably be expected to have a Material Adverse Effect, no Borrower or Subsidiary has received
any Environmental Complaint.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>5.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Insurance.</B>
The Properties of the Borrower and the Properties of each of their Subsidiaries are insured with financially sound and reputable
insurance companies that are not Affiliates of the Borrower, in such amounts, with such deductibles and covering such risks as
are customarily carried by companies engaged in similar businesses and owning similar properties in localities where the Borrower
or the applicable <FONT STYLE="color: black">Subs</FONT>idiary operates.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>5.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Taxes.</B>
The Borrower and each Subsidiary has filed all federal, state and other material tax returns and reports required by applicable
Law to be filed, and has paid, or made adequate provision for the payment of all federal, state and other material Taxes that have
been levied or imposed upon the Borrower or a Subsidiary, as applicable, or their properties, income or assets or that are otherwise
due and payable, except those which are being contested in good faith by appropriate proceedings diligently conducted and for which
adequate reserves have been provided in accordance with GAAP and except, in each case, to the extent that the failure to do so
would not reasonably be expected to have a Material Adverse Effect. There is no proposed tax assessment against the Borrower or
any Subsidiary that would reasonably be expected to have a Material Adverse Effect. Neither any Borrower nor any Subsidiary thereof
is party to any tax sharing agreement.</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>5.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>ERISA
Compliance</B>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Plan is in compliance in all material respects with the applicable provisions of ERISA, the Code and other federal or state laws.
Each Pension Plan that is intended to be a qualified plan under Section&nbsp;401(a) of the Code has received a favorable determination
letter from the Internal Revenue Service to the effect that the form of such Plan is qualified under Section&nbsp;401(a) of the
Code and the trust related thereto has been determined by the Internal Revenue Service to be exempt from federal income tax under
Section&nbsp;501(a) of the Code, or an application for such a letter is currently being processed by the Internal Revenue Service,
or such Plan is covered by an opinion letter issued by the Internal Revenue Service. To the best knowledge of the Borrower, nothing
has occurred that would prevent or cause the loss of such tax-qualified status.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
are no pending or, to the best knowledge of the Borrower, threatened claims, actions or lawsuits, or action by any Governmental
Authority, with respect to any Plan that would reasonably be expected to have a Material Adverse Effect. There has been no prohibited
transaction or violation of the fiduciary responsibility rules with respect to any Plan that has resulted or would reasonably be
expected to result in a Material Adverse Effect.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;No
ERISA Event has occurred, and neither the Borrower nor any ERISA Affiliate is aware of any fact, event or circumstance that would
reasonably be expected to constitute or result in an ERISA Event with respect to any Pension Plan; (ii)&nbsp;the Borrower and each
ERISA Affiliate has met all applicable requirements under the Pension Funding Rules in respect of each Pension Plan, and no waiver
of the minimum funding standards under the Pension Funding Rules has been applied for or obtained; (iii)&nbsp;as of the most recent
valuation date for any Pension Plan, the funding target attainment percentage (as defined in Section&nbsp;430(d)(2) of the Code)
is 60% or higher and neither the Borrower nor any ERISA Affiliate knows of any facts or circumstances that would reasonably be
expected to cause the funding target attainment percentage for any such plan to drop below 60% as of the most recent valuation
date; (iv)&nbsp;neither the Borrower nor any ERISA Affiliate has incurred any liability to the PBGC other than for the payment
of premiums, and there are no premium payments which have become due that are unpaid; (v)&nbsp;neither the Borrower nor any ERISA
Affiliate has engaged in a transaction that would be subject to Section&nbsp;4069 or Section&nbsp;4212(c) of ERISA; and (vi)&nbsp;no
Pension Plan has been terminated by the plan administrator thereof nor by the PBGC, and no event or circumstance has occurred or
exists that would reasonably be expected to cause the PBGC to institute proceedings under Title&nbsp;IV of ERISA to terminate any
Pension Plan.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="color: black">Neither
the Borrower or any ERISA Affiliate maintains or contributes to, or has any unsatisfied obligation to contribute to, or liability
under, any active or terminated Pension Plan other than (A)&nbsp;on the Closing Date, those listed on <U>Schedule&nbsp;5.12(d)</U>
hereto and (B)&nbsp;thereafter, Pension Plans not otherwise prohibited by this Agreement.</FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>5.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Subsidiaries;
Other Equity Investments</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Set
forth on <U>Schedule 5.13</U> is a complete and accurate list of all Subsidiaries and Joint Ventures/Unconsolidated Affiliates
of the Borrower as of the date of this Agreement and as updated in accordance with the terms of <U>Section 6.02</U> hereof, including
their respective business forms and jurisdictions of organization. The Equity Interests owned by Borrower in each Subsidiary and
Joint Venture/Unconsolidated Affiliate are validly issued, fully paid and non-assessable and are owned by Borrower free and clear
of all Liens other than Permitted Liens.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Also
set forth on <U>Schedule 5.13</U> is a complete and accurate list of all Sponsored REITS of the Borrower as of the date of this
Agreement, including their respective business forms and jurisdictions of organization. The Equity Interests owned by Borrower
in each Sponsored REIT are validly issued, fully paid and non-assessable and are owned by Borrower free and clear of all Liens
other than Permitted Liens. The representations with respect to Sponsored REITS are given only as of the Closing Date and only
as required under <U>Section 2.15</U> hereof.</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>5.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Margin
Regulations; Investment Company Act</B>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Borrower is not engaged, and will not engage, principally in the business of purchasing or carrying margin stock (within the meaning
of Regulation&nbsp;U issued by the FRB) or extending credit for the purpose of purchasing or carrying margin stock.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None
of the Borrower nor any Subsidiary is or is required to be registered as an &ldquo;investment company&rdquo; under the Investment
Company Act of 1940.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>5.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Disclosure.</B>
The Borrower has disclosed to the Administrative Agent and the Lenders all material agreements, instruments and corporate or other
restrictions to which it or any of its Subsidiaries are subject, and all other matters known to it, that, individually or in the
aggregate, would reasonably be expected to result in a Material Adverse Effect. No report, financial statement, certificate or
other information furnished (whether in writing or orally) by or on behalf of any Borrower to the Administrative Agent or any Lender
in connection with the transactions contemplated hereby and the negotiation of this Agreement or delivered hereunder or under any
other Loan Document (in each case, as modified or supplemented by other information so furnished) taken as a whole contains any
material misstatement of fact or omits to state any material fact necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading; <U>provided t</U>hat, with respect to projected financial information,
the Borrower represents only that such information was prepared in good faith based upon assumptions that Borrower believed to
be reasonable at the time.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>5.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Compliance
with Laws.</B> Each Borrower and each Subsidiary thereof is in compliance in all material respects with the requirements of all
Laws and all orders, writs, injunctions and decrees applicable to it or to its properties, except in such instances in which (a)&nbsp;such
requirement of Law or order, writ, injunction or decree is being contested in good faith by appropriate proceedings diligently
conducted or (b)&nbsp;the failure to comply therewith, either individually or in the aggregate, would not reasonably be expected
to have a Material Adverse Effect.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>5.17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Taxpayer
Identification Number.</B> The Borrower has provided to Administrative Agent prior to Closing a true and correct U.S. taxpayer
identification number for each entity comprising Borrower.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>5.18&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Reserved</B>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>5.19&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>REIT
Status. </B>FSP has elected status as a real estate investment trust under Section 856 of the Code and currently is in compliance
in all material respects with all provisions of the Code applicable to the qualification of FSP as a real estate investment trust.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>5.20&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Solvency</B>.
Borrower, on a consolidated basis, (a) is not insolvent nor will be rendered insolvent by the Credit Extensions, (b) does not have
unreasonably small capital with which to engage in its business, and (c) has not incurred indebtedness beyond its ability to pay
such indebtedness as it matures. The Borrower, on a consolidated basis, has assets having a value in excess of amounts required
to pay any indebtedness.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>5.21&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Unencumbered
Asset Pool Properties</B>. <U>Schedule 5.21</U> hereto contains a complete and accurate list of all Properties comprising the Unencumbered
Asset Pool as of the Closing Date (and as updated in accordance with the terms of <U>Section 6.02</U> hereof). Each Property comprising
the Unencumbered Asset Pool satisfies each of the requirements set forth in the definition of &ldquo;Unencumbered Asset Pool.&rdquo;
The Borrower makes the following representations and warranties, to its knowledge, with respect to each individual Property included
in the Unencumbered Asset Pool, as of the Closing Date (or, if later, as of the date such Property is added to the Unencumbered
Asset Pool) and except as disclosed in the Borrower&rsquo;s filings with the Securities and Exchange Commission or otherwise disclosed
in writing to the Administrative Agent:</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Availability
of Utilities</U>. (i) all utility services necessary and sufficient for the use and operation of each Property comprising the Unencumbered
Asset Pool are presently available to the boundaries of each of the Properties comprising the Unencumbered Asset Pool through dedicated
public rights of way or through perpetual private easements; and (ii) the owner has obtained all material utility installations
and connections required for the operation and servicing of each of the Properties comprising the Unencumbered Asset Pool for its
intended purposes.</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Access</U>.
(i) the rights of way for all roads necessary for the utilization in all material respects of each of the Properties comprising
the Unencumbered Asset Pool for its intended purposes have either been acquired by the appropriate Governmental Authority or have
been dedicated to public use and accepted by such Governmental Authority; (ii) all such roads have been completed and the right
to use all such roads, or suitable substitute rights of way, have been obtained; and (iii) all curb cuts, driveways and traffic
signals required for the operation and use in all material respects of each of the Properties comprising the Unencumbered Asset
Pool are existing.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Condition
of Unencumbered Asset Pool Properties</U>. (i) neither the Unencumbered Asset Pool Properties nor any material part thereof is
now damaged or injured as result of any material fire, explosion, accident, flood or other casualty that is not covered by insurance,
and no Taking is pending or contemplated and (ii) Borrower is not aware of any material or patent structural defect in any Property
comprising the Unencumbered Asset Pool.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Compliance
with Requirements/Historic Status/Flood Area</U>. The Unencumbered Asset Pool Properties comply in all material respects with all
material Requirements. Borrower has received no written notice alleging any material non-compliance by any of the Properties comprising
the Unencumbered Asset Pool with any Requirements or indicating that any of the Properties comprising the Unencumbered Asset Pool
are located within any historic district or have, or may be, designated as any kind of historic or landmark site under applicable
Requirements. None of the Properties comprising the Unencumbered Asset Pool is located in any special flood hazard area as defined
under applicable Requirements, unless such Property is adequately covered by flood insurance.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Other
Contracts</U>. The Borrower has not made any material contract or arrangement of any kind or type whatsoever (whether oral or written,
formal or informal), the performance of which by the other party thereto would reasonably be expected to give rise to a Lien on
any of the Properties comprising the Unencumbered Asset Pool other than a Permitted Lien.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Violations</U>.
The Borrower has received no written notices of any violation of any applicable material Requirements with respect to any of the
Properties comprising the Unencumbered Asset Pool.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt; text-align: center"><B>ARTICLE
VI.<BR>
AFFIRMATIVE COVENANTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">So long as any Lender
shall have any Commitment hereunder, any Loan or other Obligation hereunder (other than any unasserted indemnification obligation)
shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, the Borrower shall, and shall (except in
the case of the covenants set forth in <U>Sections&nbsp;6.01</U>, <U>6.02</U>, and <U>6.03</U>,) cause each Subsidiary to:</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>6.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Financial
Statements.</B> Deliver to the Administrative Agent, in form and detail satisfactory to the Administrative Agent (and Administrative
Agent will provide to the Lenders):</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;as
soon as available, but in any event within 90 days after the end of each fiscal year of FSP, a consolidated balance sheet of the
Consolidated Parties as at the end of such fiscal year, and the related consolidated statements of income or operations, shareholders&rsquo;
equity and cash flows for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal
year, all in reasonable detail and prepared in accordance with GAAP, such consolidated statements to be audited and accompanied
by a report and opinion of a Registered Public Accounting Firm of nationally recognized standing reasonably acceptable to the Administrative
Agent, which report and opinion shall be prepared in accordance with generally accepted auditing standards and applicable Securities
Laws and shall not be subject to any &ldquo;going concern&rdquo; or like qualification or exception or any qualification or exception
as to the scope of such audit;</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;as
soon as available, but in any event within 45 days after the end of each of the first three fiscal quarters of each fiscal year
of FSP, a consolidated balance sheet of the Consolidated Parties as at the end of such fiscal quarter, and the related consolidated
statements of income or operations and cash flows for such fiscal quarter and for the portion of the Borrower&rsquo;s fiscal year
then ended, and any other information included in FSP&rsquo;s Form 10-Q for such fiscal quarter, setting forth in each case in
comparative form the figures for the corresponding fiscal quarter of the previous fiscal year and the corresponding portion of
the previous fiscal year, all in reasonable detail, such consolidated statements to be certified by the chief executive officer,
chief financial officer, treasurer or controller of the Borrower as fairly presenting, in all material respects, the financial
condition, results of operations and cash flows of the Consolidated Parties in accordance with GAAP, subject only to normal year-end
audit adjustments and the absence of footnotes; and</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-weight: normal">as
soon as available, but in any event within thirty (30) days of the filing thereof, executed copies of all federal income tax returns,
reports and declarations of FSP and FSP Investments LLC, FSP Protective TRS Corp., and FSP REIT Protective Trust.</FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>6.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Certificates;
Other Information. </B>Deliver to the Administrative Agent, in form and detail reasonably satisfactory to the Administrative Agent
(and Administrative Agent will provide to the Lenders):</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;concurrently
with the delivery of the financial statements referred to in <U>Sections&nbsp;6.01(a)</U> and <U>(b)</U>, a Compliance Certificate
of a Responsible Officer substantially in the form of <U>Exhibit&nbsp;E-1</U> attached hereto, (A) demonstrating compliance, as
of the end of each such fiscal period, with the financial covenants contained in <U>Section 7.11</U>, and (B) stating that, to
such Responsible Officer&rsquo;s knowledge, no Default or Event of Default exists, or if any Default or Event of Default does exist,
specifying the nature and extent thereof and what action the Borrower proposes to take with respect thereto and (C) attaching and
certifying to:</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;an
update to <U>Schedule 5.21</U>, which such update shall, in each case, be deemed to replace, amend and restate such schedule, summarizing
total Unencumbered NOI and occupancy rates as of the last day of the applicable quarter;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;an
update to <U>Schedule 5.13(a)</U>, which such update shall, in each case, be deemed to replace, amend and restate such schedule;
and</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
listing of all Projects Under Development.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;promptly
after any request by the Administrative Agent or any Lender, copies of any detailed audit reports, management letters or recommendations
submitted to the board of directors (or the audit committee of the board of directors) of the Borrower by independent accountants
in connection with the accounts or books of the Borrower or any Subsidiary, or any audit of any of them;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;promptly
after the same are available, copies of each annual report, proxy or financial statement or other report or communication sent
to the stockholders of the Borrower in their capacity as such, and copies of all annual, regular, periodic and special reports
and registration statements which the Borrower may file or be required to file with the SEC under Section&nbsp;13 or 15(d) of the
Securities Exchange Act of 1934, and not otherwise required to be delivered to the Administrative Agent pursuant hereto;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;promptly,
and in any event within five (5) Business Days after receipt thereof by any Borrower or any Subsidiary thereof, copies of each
notice or other correspondence received from the SEC (or comparable agency in any applicable non-U.S. jurisdiction) concerning
any investigation or possible investigation by such agency regarding financial or other operational results of any Borrower or
any Subsidiary thereof; and</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;promptly,
such additional information regarding the business, financial or corporate affairs of the Borrower or any Subsidiary, or compliance
with the terms of the Loan Documents, or an update to the list of Sponsored REITS of the Borrower, as the Administrative Agent
may from time to time reasonably request.</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">Documents
required to be delivered pursuant to <U>Section&nbsp;6.01(a)</U> or <U>(b)</U> or <U>Section&nbsp;6.02 (c) and (d)</U> (to the
extent any such documents are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered,
shall be deemed to have been delivered on the date (i)&nbsp;on which the Borrower posts such documents, or provides a link thereto
on the Borrower&rsquo;s website on the Internet at the website address listed on <U>Schedule&nbsp;10.02</U>; or (ii)&nbsp;on which
such documents are posted on the Borrower&rsquo;s behalf on an Internet or intranet website, if any, to which each Lender and the
Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the Administrative Agent);
<U>provided</U> that: (i)&nbsp;the Borrower shall deliver paper copies of such documents to the Administrative Agent or any Lender
upon its request to the Borrower to deliver such paper copies. The Administrative Agent shall have no obligation to request the
delivery of or to maintain paper copies of the documents referred to above, and in any event shall have no responsibility to monitor
compliance by the Borrower with any such request by a Lender for delivery, and each Lender shall be solely responsible for requesting
delivery to it or maintaining its copies of such documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Borrower hereby
acknowledges that (a)&nbsp;the Administrative Agent and/or MLPF&amp;S will make available to the Lenders and the L/C Issuer materials
and/or information provided by or on behalf of the Borrower hereunder (collectively, &ldquo;<U>Borrower Materials</U>&rdquo;) by
posting the Borrower Materials on IntraLinks or another similar electronic system (the &ldquo;<U>Platform</U>&rdquo;) and (b)&nbsp;certain
of the Lenders (each, a &ldquo;<U>Public Lender</U>&rdquo;) may have personnel who do not wish to receive material non-public information
(within the meaning of the United States federal securities laws) with respect to the Borrower or its Affiliates, or the respective
securities of any of the foregoing, and who may be engaged in investment and other market-related activities with respect to such
Persons&rsquo; securities. The Administrative Agent, MLPF&amp;S and each Lender agree that all materials and/or information to
be provided by or on behalf of the Borrower shall be deemed to contain material non-public information, unless the Borrower otherwise
designates certain information as not containing any material nonpublic information by clearly and conspicuously marking such information
as &ldquo;PUBLIC&rdquo; on the first page thereof. The Borrower hereby agrees that by marking Borrower Materials &ldquo;PUBLIC,&rdquo;
the Borrower shall be deemed to have authorized the Administrative Agent, MLPF&amp;S, the L/C Issuer and the Lenders to treat such
Borrower Materials as not containing any material non-public information with respect to the Borrower or its securities for purposes
of United States federal and state securities laws (<U>provided</U>, <U>however</U>, that to the extent such Borrower Materials
constitute Information, they shall be treated as set forth in <U>Section&nbsp;10.07</U>) and all Borrower Materials marked &ldquo;PUBLIC&rdquo;
are permitted to be made available through a portion of the Platform designated &ldquo;Public Side Information.&rdquo; The Administrative
Agent and MLPF&amp;S agree to treat any Borrower Materials that are not marked &ldquo;PUBLIC&rdquo; as being suitable only for
posting on a portion of the Platform not designated &ldquo;Public Side Information.&rdquo; As of the Closing Date, each applicable
Lender represents to the Borrower that it is not a Public Lender.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>6.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Notices.</B>
Promptly notify the Administrative Agent:</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;of
the occurrence of any Default known to Borrower;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;of
any matter that has resulted or would reasonably be expected to result in a Material Adverse Effect;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;of
the occurrence of an Internal Control Event;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;of
the occurrence of any ERISA Event;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;of
any material change in accounting policies or financial reporting practices by the Borrower or any Subsidiary<B>;</B> and</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;with
respect to Sponsored REITs, Borrower shall provide the Administrative Agent with a copy of the applicable confidential offering
memorandum relating thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Each notice pursuant
to this <U>Section&nbsp;6.03</U> (other than <U>Section&nbsp;6.03(f)</U>) shall be accompanied by a statement of a Responsible
Officer of the Borrower setting forth details of the occurrence referred to therein and stating what action the Borrower has taken
and proposes to take with respect thereto. Each notice pursuant to <U>Section&nbsp;6.03(a)</U> shall describe with particularity
any and all provisions of this Agreement and any other Loan Document that have been breached. The Administrative Agent will provide
written notices received from the Borrower pursuant to this <U>Section 6.03</U> to the Lenders.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>6.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Payment
of Taxes.</B> Pay and discharge as the same shall become due and payable&nbsp;all Tax liabilities imposed or levied upon it or
its properties or assets, unless (i) the same are being contested in good faith by appropriate proceedings diligently conducted
and adequate reserves in accordance with GAAP are being maintained by the Borrower or such Subsidiary or (ii) failure to pay or
discharge such items would not reasonably be expected to have a Material Adverse Effect.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>6.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Preservation
of Existence, Etc.</B> (a)&nbsp;Preserve, renew and maintain in full force and effect its legal existence and good standing under
the Laws of the jurisdiction of its organization except in a transaction permitted by <U>Section&nbsp;7.04 </U>or <U>7.05</U>;
(b)&nbsp;take all reasonable action to maintain all rights, privileges, permits, licenses and franchises necessary or desirable
in the normal conduct of its business, except to the extent that failure to do so would not reasonably be expected to have a Material
Adverse Effect; and (c)&nbsp;preserve or renew all of its registered patents, trademarks, trade names and service marks, the non-preservation
of which would reasonably be expected to have a Material Adverse Effect.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>6.06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Maintenance
of Properties.</B> (a)&nbsp;Maintain, preserve and protect all of its material properties and equipment necessary in the operation
of its business in good working order and condition, ordinary wear and tear and insured fire or other casualty excepted; (b)&nbsp;make
all necessary repairs thereto and renewals and replacements thereof; and (c)&nbsp;use the standard of care typical in the industry
in the operation and maintenance of its facilities, in each case, except where the failure to do so would not reasonably be expected
to have a Material Adverse Effect.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>6.07&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Maintenance
of Insurance.</B> Maintain with financially sound and reputable insurance companies not Affiliates of any Borrower, insurance with
respect to its properties and business against loss or damage of the kinds customarily insured against by Persons engaged in the
same or similar business, of such types and in such amounts as are customarily carried under similar circumstances by such other
Persons.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>6.08&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Compliance
with Laws.</B> Comply in all material respects with the requirements of all Laws and all orders, writs, injunctions and decrees
applicable to it or to its business or property, except in such instances in which (a)&nbsp;such requirement of Law or order, writ,
injunction or decree is being contested in good faith by appropriate proceedings diligently conducted; or (b)&nbsp;the failure
to comply therewith would not reasonably be expected to have a Material Adverse Effect.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>6.09&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Books
and Records.</B> Maintain proper books of record and account, in which full, true and correct entries, in material conformity with
GAAP consistently applied shall be made of all financial transactions and matters involving the assets and business of the Borrower
or such Subsidiary, as the case may be.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>6.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Inspection
Rights.</B> Permit representatives appointed by the Administrative Agent and each Lender, including, without limitation, independent
accountants, agents, attorneys, and appraisers to visit and inspect any of its Properties and permit representatives appointed
by Administrative Agent to examine its corporate, financial and operating records, and make copies thereof or abstracts therefrom,
and to discuss its affairs, finances and accounts with its directors, officers, and independent public accountants, all at such
reasonable times during normal business hours and as often as may be reasonably desired, upon reasonable advance notice to the
Borrower <U>provided</U>, <U>however</U>, that when an Event of Default exists the Administrative Agent or any Lender (or any of
their respective or independent contractors) may do any of the foregoing at the expense of the Borrower at any time during normal
business hours and without advance notice; and provided further that it shall not be a breach of this Section 6.10 if, (a) despite
Borrowers&rsquo; diligent conduct, the Borrower&rsquo;s independent public accountants decline to meet or discuss with the Administrative
Agent, or (b) despite Borrowers&rsquo; diligent conduct a tenant at a Property does not permit the Administrative Agent to inspect
such Property.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>6.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Use
of Proceeds.</B> Use the proceeds of the Credit Extensions solely for the following purposes: (a) to finance the acquisition of
real properties and for other investments permitted under Section 7.02; (b) to finance investments associated with Sponsored REITS,
including without limitation, loans to Sponsored REITS and the purchase of preferred stock in Sponsored REITS; (c) to refinance
and/or retire existing Indebtedness, including, without limitation, the repayment of the Original Credit Agreement and (d) for
working capital and other general business purposes, provided, however that no Credit Extensions shall be used to make Restricted
Payments.</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>6.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Additional
Borrowers</B>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
any Person (other than an Excluded Subsidiary or a Sponsored REIT) becomes a Wholly-Owned Subsidiary of any Borrower or if at any
time any Person formerly qualifying as an Excluded Subsidiary ceases to meet the requirements for qualification as an Excluded
Subsidiary, the Borrower shall, on or prior to the date that Borrower&rsquo;s next quarterly Compliance Certificate is due pursuant
to Section 6.02(a)(i) cause such Person to become a Borrower by executing and delivering to the Administrative Agent the Joinder
Documents, and the Borrower shall cause such Person to deliver to the Administrative Agent documents of the types referred to in
clauses (iii), (iv), (v), (vii) and (ix) of Section 4.01(a) (unless waived by Administrative Agent), all in form, content and scope
similar to those provided with respect to the Borrower as of Closing. Notwithstanding the immediately preceding sentence, if the
date on which any Person (other than an Excluded Subsidiary or a Sponsored REIT) becomes a Wholly-Owned Subsidiary of any Borrower
or if at any time any Person formerly qualifying as an Excluded Subsidiary ceases to meet the requirements for qualification as
an Excluded Subsidiary occurs after the end of a fiscal quarter but on or before the date of Borrower&rsquo;s delivery of the Compliance
Certificate for such quarter, the Borrower shall cause such Person to become a Borrower, in the manner described above, on or prior
to the date that Borrower&rsquo;s next quarterly Compliance Certificate is due pursuant to <U>Section 6.02(a)(i)</U>. No Person
that is not a &ldquo;United States Person&rdquo; within the meaning of Section 7701(a)(30) of the Code shall become a Borrower
pursuant to this Section 6.12(a) unless all Lenders consent thereto in writing.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
any other provisions of this Agreement to the contrary (x) to the extent (I) a Borrower (other than FSP) anticipates becoming or
intends to become an Excluded Subsidiary, (II) a Borrower (other than FSP) intends to dispose of a Property and/or all or substantially
all of its assets, or (III) FSP or a Borrower intends to dispose of its Equity Interests in a Borrower, and (y) the release as
a Borrower hereunder of such Borrower referred to in clause (I), Borrower referred to in clause (II) or the Borrower whose Equity
Interests are to be disposed of as contemplated by clause (III), as applicable, will not, on a pro forma basis with respect to
the financial covenants contained in <U>Section 7.11</U> hereof, give rise to one or more Defaults and/or Events of Default, such
Borrower referred to in clause (I), Borrower referred to in clause (II) or Borrower whose Equity Interests are to be disposed of
as contemplated by clause (III), as applicable, shall be released as a Borrower hereunder and such Person&rsquo;s Property shall
be released from the Unencumbered Asset Pool in accordance with the following:</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Borrower shall deliver to the Administrative Agent, not less than ten (10) days prior to the anticipated or intended release of
a Wholly-Owned Subsidiary hereunder, a Pro Forma Compliance Certificate of a Responsible Officer of the Borrower in form attached
as Exhibit E-2, certifying that, (x) immediately before and immediately after such release the Borrower will be in compliance with
the covenants set forth in <U>Section 7.11</U> of this Agreement, and (y) to such Responsible Officer&rsquo;s knowledge, immediately
prior to such release and immediately following such release, no Default or Event of Default exists or will exist under the Agreement
or any of the other Loan Documents; and</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Borrower or Borrower whose Equity Interests are to be disposed of as contemplated in clause (III) of <U>Section 6.12(b)</U>, as
applicable, shall automatically be deemed released as a Borrower hereunder, and the applicable Property shall be deemed released
from the Unencumbered Asset Pool, effective as of the date of the Disposition of the Property, assets or Equity Interests, as applicable,
or financing with Secured Indebtedness of such Person and/or its Property.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">The Administrative
Agent shall, upon written request therefor given by Borrower after such release has become effective, provide a written confirmation
of the release of the applicable Person as an obligor hereunder and the other Loan Documents.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
any other provisions of this Agreement to the contrary (x) to the extent the Borrower desires a release of a Property from the
Unencumbered Asset Pool but the applicable Borrower owning such Property will not qualify as an Excluded Subsidiary after the release
of such Property and (y) the release of such Property hereunder will not, on a pro forma basis with respect to the financial covenants
contained in <U>Section 7.11</U>, give rise to one or more Defaults and/or Events of Default, such Property may be released from
the Unencumbered Asset Pool (but the Person owning such Property shall not be released as a Borrower hereunder) in accordance with
the following:</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Borrower shall deliver to the Administrative Agent, not less than ten (10) days prior to the anticipated or intended release of
such Property from the Unencumbered Asset Pool a Pro Forma Compliance Certificate of a Responsible Officer of the Borrower in form
attached as Exhibit E-2, certifying that, (x) immediately before and immediately after such release the Borrower will be in compliance
with the covenants set forth in <U>Section 7.11</U> of this Agreement, and (y) to such Responsible Officer&rsquo;s knowledge, immediately
prior to such release and immediately following such release, no Default or Event of Default exists or will exist under the Agreement
or any of the other Loan Documents; and</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
applicable Property shall automatically be deemed released from the Unencumbered Asset Pool effective as of the date of the Disposition
or the date of the financing with Secured Indebtedness of such Property but the Person owning such Property, to the extent not
qualifying as an Excluded Subsidiary, shall not be released as a Borrower hereunder.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
purposes of clarification, (i) the Borrower may, at any time, elect to cause an Excluded Subsidiary to become a Borrower hereunder,
and (ii) no assets owned or held directly by any Excluded Subsidiary shall be included in any calculation involving the value of
or income from Properties comprising of the Unencumbered Asset Pool unless such Excluded Subsidiary is a Borrower as of the date
of such calculation and such assets meet the criteria for inclusion in the Unencumbered Asset Pool as set forth in the definition
of &ldquo;Unencumbered Asset Pool&rdquo;.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Administrative Agent will provide notice to the Lenders of any Borrower or Property additions or releases pursuant to this <U>Section
6.12</U>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>6.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>REIT
Status. </B>At all times comply with all applicable provisions of the Code necessary to allow FSP to qualify for status as a real
estate investment trust.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>6.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Reserved</B>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>6.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Material
Contracts. </B>Comply in all material respects with the terms and conditions of all Contractual Obligations except in such instance
where the failure to comply therewith would not reasonably be expected to have a Material Adverse Effect and, with respect to any
Indebtedness of any Consolidated Party having a principal amount (including undrawn committed or available amounts ) of at least
$20,000,000, within thirty (30) days after closing on such Indebtedness, disclose in writing to Administrative Agent the financial
covenant requirements applicable thereto.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>6.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Further
Assurances</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">At the cost and
expense of Borrower and upon request of the Administrative Agent, duly execute and deliver or cause to be duly executed and delivered,
to the Administrative Agent such further instruments, documents and certificates, and do and cause to be done such further acts
that may be reasonably necessary or advisable in the reasonable opinion of the Administrative Agent to carry out more effectively
the provisions and purposes of this Agreement and the other Loan Documents.</P>

<P STYLE="font: normal 10pt Times New Roman Bold; margin: 0 0 12pt; text-transform: uppercase; text-align: center; text-indent: 0in"><B>ARTICLE
VII.<BR>
NEGATIVE COVENANTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">So long as any Lender
shall have any Commitment hereunder, any Loan or other Obligation hereunder (other than unasserted indemnification obligations)
shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, the Borrower shall not, directly or indirectly:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>7.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Liens.</B>
Cr<FONT STYLE="letter-spacing: -0.15pt">eate, incur, assume or permit to exist any Lien w</FONT>ith respect to any of its property,
assets or revenues, whether now owned or hereafter acquired <FONT STYLE="letter-spacing: -0.15pt">(or permit any other Subsidiary
to do so),</FONT> other than Permitted Liens.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>7.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Investments.</B>
Make any Investments, except:</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments
in Projects Under Development, undeveloped land holdings, Joint Venture Projects and Joint Ventures, Securities Holdings and Mortgages
to the extent such Investments are not prohibited under <U>Sections&nbsp;7.11(h)</U>;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments
held by the Borrower in the form of Cash Equivalents;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments
of the Borrower, directly or indirectly, in any other Borrower and/or in any Subsidiary (including without limitation, any Excluded
Subsidiary);</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments
consisting of extensions of credit in the nature of accounts receivable or notes receivable arising from the grant of trade credit
in the ordinary course of business, and Investments received in satisfaction or partial satisfaction thereof from financially troubled
account debtors to the extent reasonably necessary in order to prevent or limit loss;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments
held by the Borrower in the form of acquiring, developing, maintaining and operating income producing Properties;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments
held by the Borrower in Sponsored REITs, including loans and mortgages to and purchases of preferred Equity Interests in Sponsored
REITs; and</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments
listed on <U>Schedule 7.02(g)</U>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>7.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Indebtedness.</B>
Create, incur, assume or suffer to exist any Indebtedness <FONT STYLE="letter-spacing: -0.15pt">(or permit any other Subsidiary
to do so),</FONT> except:</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness
under the Loan Documents; and</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
other Indebtedness (including, without limitation, Guarantees of the Borrower in respect of Indebtedness otherwise permitted hereunder)
to the extent such Indebtedness is not prohibited under <U>Section&nbsp;7.11</U>; provided, that to the extent such Indebtedness
is in the form of obligations under any Swap Contract (i) such obligations are (or were) entered into by such Person in the ordinary
course of business for the purpose of directly mitigating risks associated with liabilities, commitments, investments, assets,
or property held or reasonably anticipated by such Person, or changes in the value of securities issued by such Person, and not
for purposes of speculation or taking a &ldquo;market view;&rdquo; and (ii) such Swap Contract contains provisions exonerating
the non-defaulting party from its obligation to make payments on outstanding transactions to the defaulting party.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>7.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Fundamental
Changes.</B> Except as otherwise permitted under this Agreement, merge, dissolve, liquidate, consolidate with or into another Person,
or Dispose of (whether in one transaction or in a series of transactions) all or substantially all of its assets (whether now owned
or hereafter acquired) to or in favor of any Person, except that, so long as no Default exists or would result therefrom:</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
Subsidiary may merge with (i)&nbsp;the Borrower, or (ii)&nbsp;any one or more other Subsidiaries, <U>provided</U> that when any
Borrower is merging with another Subsidiary, such Borrower shall be the continuing or surviving Person (or the transaction must
be undertaken in compliance with <U>Section 6.12)</U> and the Borrower shall continue to remain in compliance with <U>Section 7.11</U>
and the merging Borrower shall not be or become an Excluded Subsidiary as a result of such transaction);</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
Borrower or Subsidiary may Dispose of all or substantially all of its assets (upon voluntary liquidation or otherwise) to the Borrower
or to another Subsidiary; <U>provided</U> that if the transferor in such a transaction is a Borrower, then the transferee must
be a Borrower or the transaction must be undertaken in accordance with <U>Section 6.12</U> hereof;</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
or substantially all of the assets or all of the Equity Interests of Borrower or a Subsidiary may be Disposed of to the extent
such Disposition is permitted pursuant to <U>Section&nbsp;7.05</U>; and</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP
may acquire a Sponsored REIT by merger or consolidation provided that FSP is the surviving Person or a Person wholly-owned by FSP
is the surviving Person and Borrower shall continue to remain in compliance with <U>Section 7.11</U>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>7.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Dispositions.</B>
Make any Disposition or enter into any agreement to make any Disposition, except:</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dispositions
of obsolete or worn out property, whether now owned or hereafter acquired, in the ordinary course of business;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dispositions
of equipment or real property to the extent that (i)&nbsp;such property is exchanged for credit against the purchase price of similar
replacement property or (ii)&nbsp;the proceeds of such Disposition are reasonably promptly applied to the purchase price of such
replacement property;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dispositions
of property by any Borrower or any Subsidiary to a Borrower (provided after such Disposition, Borrower remains in compliance with
<U>Section 7.11</U> and the transferee Borrower shall not be or become an Excluded Subsidiary as a result of such transaction)
or to any Subsidiary thereof; <U>provided</U> that if the transferor of such property is a Borrower, the transferee thereof must
be a Borrower;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dispositions
permitted by <U>Section&nbsp;7.04(a)</U> &ndash; <U>(b)</U>; and</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dispositions
to the extent that at the time of such Disposition Borrower has complied with the applicable provisions of <U>Section 6.12</U>
hereof.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>7.06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Reserved.</B></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>7.07&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Change
in Nature of Business.</B> Engage in (or permit any other Subsidiary to engage in) any material line of business substantially
different from those lines of business conducted by the Borrower and their Subsidiaries on the date hereof or any business substantially
related or incidental thereto.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>7.08&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Transactions
with Affiliates.</B> Permit to exist or enter into, any transaction (including the purchase, sale, lease or exchange of any property
or the rendering of any service) with any Affiliate, except (a)&nbsp;as set forth on <U>Schedule&nbsp;7.08</U> or (b)&nbsp;transactions
not otherwise prohibited hereunder and consistent with past practices, upon fair and reasonable terms which are no less favorable
to the Borrower, than would be obtained in a comparable arm&rsquo;s length transaction with a Person that is not an Affiliate or
(c) transactions not otherwise prohibited hereunder among the Borrowers, Subsidiaries and Sponsored REITS.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>7.09&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Burdensome
Agreements.</B> Except in connection with any transaction not prohibited hereunder, enter into or permit any Subsidiary to enter
into any Contractual Obligation (other than this Agreement or any other Loan Document) that (a)&nbsp;limits the ability (i)&nbsp;of
any Subsidiary to make Restricted Payments to the Borrower or to otherwise transfer property to the Borrower, (ii)&nbsp;of any
Subsidiary to become a borrower hereunder or (iii)&nbsp;of the Borrower or any Subsidiary to create, incur, assume or suffer to
exist Liens on property of such Person; or (b)&nbsp;requires the grant of a Lien to secure an obligation of such Person if a Lien
is granted to secure another obligation of such Person; <U>provided</U>, that this <U>Section&nbsp;7.09</U> shall not be deemed
to restrict the ability of FSP or any Excluded Subsidiary from entering into Contractual Obligations of any type related to Indebtedness
<U>provided</U> such Indebtedness does not impose a lien on any Unencumbered Asset Pool Properties or the Equity Interests of any
Borrower and <U>provided</U> <U>further</U> that such Indebtedness would not result in a breach of the financial covenants set
forth in <U>Section 7.11</U> of this Agreement.</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>7.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Use
of Proceeds.</B> Use the proceeds of any Credit Extension, whether directly or indirectly, and whether immediately, incidentally
or ultimately, (i) to purchase or carry margin stock (within the meaning of Regulation&nbsp;U of the FRB) or to extend credit to
others for the purpose of purchasing or carrying margin stock or to refund indebtedness originally incurred for such purpose or
(ii) other than for the express purposes permitted by <U>Section 6.11</U> of this Agreement.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>7.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Financial
Covenants. </B>Fail, at any time, to comply with any of the following financial covenants on a consolidated basis <FONT STYLE="font-weight: normal">provided
that such covenants shall be calculated as of the last day of a calendar quarter</FONT>:</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Minimum
Tangible Net Worth.</U><FONT STYLE="font-family: Times New Roman Bold,serif"> </FONT>Borrower shall maintain a Tangible Net Worth
equal to or in excess of $653,000,000 plus seventy-five percent (75%) of the aggregate net proceeds received by Borrower in connection
with any offering of stock or other equity in FSP after the Closing Date.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Maximum
Leverage Ratio</U>. Borrower shall not permit the ratio of Total Indebtedness to Total Asset Value to exceed 0.60:1.0.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Maximum
Secured Leverage Ratio</U>. Borrower shall not permit the ratio of Total Secured Indebtedness (excluding the Credit Extensions)
to Total Asset Value to exceed 0.30:1.0.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Minimum
Fixed Charge Coverage Ratio</U>. Borrower shall not permit the ratio of Adjusted EBITDA to Fixed Charges to be less than 1.50:1.0.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Maximum
Unencumbered Leverage Ratio</U>. Borrower shall not permit the ratio of Unsecured Indebtedness to Unencumbered Asset Value to exceed
0.60:1.0.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Minimum
Unsecured Debt Service Coverage</U>. Borrower shall not permit the ratio of Unencumbered NOI to the Mortgageability Amount to be
less than 1.60:1.0. For the purpose of calculating NOI for this covenant 7.11(f), items (a)-(d) of the definition of Net Operating
Income shall be adjusted to (i) exclude the amount attributable to the Properties disposed of during such fiscal quarter and (ii)
adjust the amount attributable to Properties owned less than a full fiscal quarter so that such amount is grossed up as if the
Property had been owned for the entire fiscal quarter.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Dividends
and Distributions</U>. To the extent an Event of Default exists or would result therefrom, Borrower shall not make Restricted Payments.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Investments</U>.
Borrower shall not permit the aggregate value of the following items of all Consolidated Parties to exceed ten percent (10%) of
Total Asset Value: (A) the total cost budget of Projects Under Development; plus (B) the cost value of all undeveloped holdings
(raw land or land which is not otherwise an operating property other than any properties determined to be Projects Under Development)
determined in accordance with GAAP; plus (C) the value of all Joint Venture Projects plus, without duplication, the cost-basis
value of the Consolidated Parties&rsquo; investment in Joint Ventures (in each case taking into account the Consolidated Parties&rsquo;
Equity Percentage thereof); plus (D) the value of Securities Holdings held by the Consolidated Parties; plus (E) the value of all
Mortgages (excluding loans to Sponsored REITS) held by the Consolidated Parties; plus (F) the value of all foreign investments
held by the Consolidated Parties.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Maximum
Secured Recourse Indebtedness Value</U>. Borrower shall not permit Secured Recourse Indebtedness of FSP to exceed Fifty Million
Dollars ($50,000,000) in the aggregate. No Borrowers other than FSP shall be permitted to have Secured Recourse Indebtedness.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>7.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Organizational
Documents. </B>Permit any Borrower to amend, modify, waive or change its Organization Documents in a manner materially adverse
to the interests of the Lenders in any material respect, or in a manner that would reasonably be expected to have a Material Adverse
Effect on the Borrower.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>7.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Reserved.
</B></P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>7.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Sale
Leasebacks. </B>Except as would not reasonably be expected to have a Material Adverse Effect, directly or indirectly, become or
remain liable as lessee or as guarantor or other surety with respect to any lease, whether an operating lease or a capital lease,
of any property (whether real or personal or mixed), whether now owned or hereafter acquired, (a)&nbsp;which such Person has sold
or transferred or is to sell or transfer to a Person which is not a Consolidated Party or (b)&nbsp;which such Person intends to
use for substantially the same purpose as any other property which has been sold or is to be sold or transferred by such Person
to another Person which is not a Consolidated Party in connection with such lease.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>7.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Prepayments
of Indebtedness. </B>If any Event of Default has occurred and is continuing or would be directly or indirectly caused as a result
thereof, with respect to Borrower and any Subsidiary thereof (i)&nbsp; amend or modify (or permit the amendment or modification
of) any of the terms of any Indebtedness of such Person if such amendment or modification would accelerate the maturity date of
such Indebtedness or would require an unscheduled payment of such Indebtedness or would effect any type of transfer of property
or assets in payment of Indebtedness or would otherwise have the effect of prepaying such Indebtedness or (ii)&nbsp;prepay, any
Indebtedness of such Person.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>7.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Changes
in Accounting</B>. Except as required by Laws or GAAP, permit any Borrower or any Subsidiary thereof to make any changes in accounting
policies or reporting practices.</P>

<P STYLE="font: normal 10pt Times New Roman Bold; margin: 0 0 12pt; text-transform: uppercase; text-align: center; text-indent: 0in"><B>ARTICLE
VIII.<BR>
EVENTS OF DEFAULT AND REMEDIES</B></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>8.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Events
of Default. </B>Any of the following shall constitute an Event of Default:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Non-Payment</U>.
The Borrower fails to pay (i)&nbsp;within five (5) days after the same is required to be paid herein (other than at the Revolver
Maturity Date, whether at stated maturity, by acceleration or otherwise, as to which such five (5) day period shall not apply),
any amount of principal of any Loan or any L/C Obligation, or (ii)&nbsp;within five (5) days after the same becomes due (other
than at the Revolver Maturity Date, whether at stated maturity, by acceleration or otherwise, as to which such five (5) day period
shall not apply), any interest on any Loan or on any L/C Obligation, or any fee due hereunder, or (iii)&nbsp;within five (5) days
after written notice from Administrative Agent that the same has become due and payable, any other amount payable hereunder or
under any other Loan Document; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Specific
Covenants</U>. The Borrower fails to perform or observe any term, covenant or agreement contained in any of <U>Section&nbsp;6.01</U>,
<U>6.02</U>, <U>6.03</U>, <U>6.05</U>, <U>6.07</U>, <U>6.11</U>, or <U>6.12</U> or <U>Article&nbsp;VII</U>; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Other
Defaults</U>. Any Borrower fails to perform or observe any other covenant or agreement (not specified in subsection&nbsp;(a) or
(b) above) contained herein or in any other Loan Document on its part to be performed or observed and such failure continues for
thirty (30) days after delivery of written notice thereof from Administrative Agent, <U>provided</U> that in the case of any such
default which is susceptible to cure but cannot be cured within thirty (30) days through the exercise of reasonable diligence,
if such Borrower commences such cure within the initial thirty (30) days period and thereafter diligently prosecutes same to completion,
such period of thirty (30) days shall be extended for such additional period of time as may be reasonably necessary to cure same,
but in no event shall such extended period exceed sixty (60) additional days; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Representations
and Warranties</U>. Any representation or warranty made or deemed made by or on behalf of any Borrower in or in connection with
this Agreement or any other Loan Document or any amendment or modification hereof or thereof, or in any report, certificate, financial
statement or other document furnished by Borrower pursuant to or in connection with this Agreement or any other Loan Document or
any amendment or modification hereof or thereof, shall be incorrect or misleading in any material respect when made or deemed made;
or</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Cross-Default</U>.
(i)&nbsp;The Borrower or any Subsidiary (A)&nbsp;fails to make any payment prior to the delinquency thereof (whether as a result
of scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of any Indebtedness or Guarantee (other
than Indebtedness hereunder and Indebtedness under Swap Contracts) having an aggregate outstanding principal amount of more than
the Threshold Amount, or (B)&nbsp;fails to observe or perform, beyond any applicable notice and cure periods, any other material
agreement or condition relating to any such Indebtedness or Guarantee or contained in any instrument or agreement evidencing, securing
or relating thereto, or any other event occurs, the effect of which default or other event is to cause, or to permit the holder
or holders of such Indebtedness or the beneficiary or beneficiaries of such Guarantee (or a trustee or agent on behalf of such
holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such Indebtedness to be demanded
or to become due prior to its stated maturity or such Indebtedness to be repurchased, prepaid, defeased or redeemed prior to its
stated maturity other than due to the voluntary act of Borrower or any Subsidiary, or such Guarantee to become payable or cash
collateral in respect thereof to be demanded (except for any default or other event which arises in connection with the disposition
of assets, or a change of control of or the sale of any equity interest in any Subsidiary, so long as such Indebtedness or Guarantee
is repaid in full substantially simultaneously with such disposition or change of control); and/or (ii)&nbsp;there occurs under
any Swap Contract an Early Termination Date (as defined in such Swap Contract) resulting from (A)&nbsp;any event of default under
such Swap Contract as to which the Borrower or any Subsidiary is the Defaulting Party (as defined in such Swap Contract) or (B)&nbsp;any
Termination Event (as so defined) under such Swap Contract as to which the Borrower or any Subsidiary is the sole Affected Party
(as so defined) and all transactions covered by such Swap Contract are Affected Transactions (as so defined) and, in either event,
the Swap Termination Value owed by the Borrower or such Subsidiary as a result thereof is greater than the Threshold Amount; provided
that to the extent such Swap Contract is governed by a master agreement, an Early Termination Date (as so defined) has been designated
in respect of all transactions under such master agreement; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Insolvency
Proceedings, Etc.</U> Any Borrower institutes or consents to the institution of any proceeding under any Debtor Relief Law, or
makes an assignment for the benefit of creditors; or applies for or consents to the appointment of any receiver, trustee, custodian,
conservator, liquidator, rehabilitator or similar officer for it or for all or any material part of its property; or any receiver,
trustee, custodian, conservator, liquidator, rehabilitator or similar officer is appointed without the application or consent of
such Borrower and the appointment continues undischarged or unstayed for 60 calendar days; or any proceeding under any Debtor Relief
Law relating to any such Borrower or to all or any material part of its property is instituted without the consent of such Borrower
and continues undismissed or unstayed for 60 calendar days, or an order for relief is entered in any such proceeding; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Inability
to Pay Debts; Attachment</U>. (i)&nbsp;Any Borrower becomes unable or admits in writing its inability or fails generally to pay
its debts as they become due, or (ii)&nbsp;any writ or warrant of attachment or execution or similar process is issued or levied
against all or any material part of the property of any Borrower and is not released, vacated or fully bonded within 60 days after
its issue or levy; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Judgments</U>.
There is entered against any Borrower (i) a final judgment or order for the payment of money in an aggregate amount exceeding $25,000,000
(to the extent not covered by independent third-party insurance as to which the insurer does not dispute coverage), or (ii) any
one or more non-monetary final judgments that have, or would reasonably be expected to have, individually or in the aggregate,
a Material Adverse Effect and, in either case, (A) enforcement proceedings are commenced by any creditor upon such judgment or
order, or (B) there is a period of thirty (30) consecutive days during which a stay of enforcement of such judgment, by reason
of a pending appeal or otherwise, is not in effect or during which such judgment is not discharged or vacated; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>ERISA</U>.
(i)&nbsp;An ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan which has resulted or would reasonably be expected
to result in liability of the Borrower under Title&nbsp;IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate
amount in excess of $25,000,000, or (ii)&nbsp;the Borrower or any ERISA Affiliate fails to pay when due, after the expiration of
any applicable grace period, any installment payment with respect to its withdrawal liability under Section&nbsp;4201 of ERISA
under a Multiemployer Plan in an aggregate amount in excess of $25,000,000; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Invalidity
of Loan Documents</U>. Any Loan Document, at any time after its execution and delivery and for any reason other than in accordance
with the terms hereof or thereof, or satisfaction in full of all the Obligations, is revoked, terminated, canceled or rescinded,
without the prior written approval of Administrative Agent; or any Borrower commences any legal proceeding at law or in equity
to contest, or make unenforceable, cancel, revoke or rescind any of the Loan Documents; or</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Change
of Control</U>. There occurs any Change of Control.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>8.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Remedies
Upon Event of Default</B>. If any Event of Default occurs and is continuing, the Administrative Agent shall, at the request of,
or may, with the consent of, the Required Lenders, take any or all of the following actions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;declare
the commitment of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit Extensions to be terminated,
whereupon such commitments and obligation shall be terminated;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;declare
the unpaid principal amount of all outstanding Loans, all interest accrued and unpaid thereon, and all other amounts owing or payable
hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest or other notice
of any kind, all of which are hereby expressly waived by the Borrower;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;require
that the Borrower Cash Collateralize the L/C Obligations (in an amount equal to the then Outstanding Amount thereof); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;exercise
on behalf of itself, the Lenders and the L/C Issuer all rights and remedies available to it, the Lenders and the L/C Issuer under
the Loan Documents or under applicable Laws;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><U>provided</U>, <U>however</U>, that
upon the occurrence of an actual or deemed entry of an order for relief with respect to the Borrower under the Bankruptcy Code
of the United States, the obligation of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit Extensions
shall automatically terminate, the unpaid principal amount of all outstanding Loans and all interest and other amounts as aforesaid
shall automatically become due and payable, and the obligation of the Borrower to Cash Collateralize the L/C Obligations as aforesaid
shall automatically become effective, in each case without further act of the Administrative Agent or any Lender.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>8.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Application
of Funds</B>. After the exercise of remedies provided for in <U>Section&nbsp;8.02</U> (or after the Loans have automatically become
immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in
the proviso to <U>Section&nbsp;8.02</U>), any amounts received on account of the Obligations shall, subject to the provisions of
<U>Sections&nbsp;2.17</U> and <U>2.18</U>, be applied by the Administrative Agent in the following order:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><U>First</U>, to
payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (including fees, charges
and disbursements of counsel to the Administrative Agent and amounts payable under <U>Article&nbsp;III</U>) payable to the Administrative
Agent in its capacity as such;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><U>Second</U>, to
payment of that portion of the Obligations constituting fees, indemnities and other amounts (other than principal, interest and
Letter of Credit Fees) payable to the Lenders and the L/C Issuer (including fees, charges and disbursements of counsel to the respective
Lenders and the L/C Issuer (including fees and time charges for attorneys who may be employees of any Lender or the L/C Issuer)
and amounts payable under <U>Article&nbsp;III</U>), ratably among them in proportion to the respective amounts described in this
clause <U>Second</U> payable to them;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><U>Third</U>, to
payment of that portion of the Obligations constituting accrued and unpaid Letter of Credit Fees and interest on the Loans, L/C
Borrowings and other Obligations, ratably among the Lenders and the L/C Issuer in proportion to the respective amounts described
in this clause <U>Third</U> payable to them;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><U>Fourth</U>, to
payment of that portion of the Obligations constituting unpaid principal of the Loans and L/C Borrowings, ratably among the Lenders
and the L/C Issuer in proportion to the respective amounts described in this clause <U>Fourth</U> held by them;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><U>Fifth</U>, to
the Administrative Agent for the account of the L/C Issuer, to Cash Collateralize that portion of L/C Obligations comprised of
the aggregate undrawn amount of Letters of Credit to the extent not otherwise Cash Collateralized by the Borrower pursuant to <U>Sections&nbsp;2.04</U>
and <U>2.17</U>; and</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><U>Last</U>, the
balance, if any, after all of the Obligations have been indefeasibly paid in full, to the Borrower or as otherwise required by
Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Subject to <U>Sections&nbsp;2.04(c)</U>
and <U>2.17</U>, amounts used to Cash Collateralize the aggregate undrawn amount of Letters of Credit pursuant to clause <U>Fifth</U>
above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash
Collateral after all Letters of Credit have either been fully drawn or expired, such remaining amount shall be applied to the other
Obligations, if any, in the order set forth above.</P>

<P STYLE="font: normal 10pt Times New Roman Bold; margin: 0 0 12pt; text-transform: uppercase; text-align: center; text-indent: 0in"><B>ARTICLE
IX.<BR>
ADMINISTRATIVE AGENT</B></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>9.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Appointment
and Authority.</B> Each of the Lenders and the L/C Issuer hereby irrevocably appoints Bank of America to act on its behalf as the
Administrative Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such actions
on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof, together
with such actions and powers as are reasonably incidental thereto. The provisions of this Article are solely for the benefit of
the Administrative Agent, the Lenders and the L/C Issuer, and no Borrower shall have rights as a third-party beneficiary of any
of such provisions.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>9.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Rights
as a Lender</B> The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity
as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent and the term &ldquo;Lender&rdquo;
or &ldquo;Lenders&rdquo; shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person
serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from,
lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business
with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent hereunder and
without any duty to account therefor to the Lenders.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>9.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Exculpatory
Provisions.</B> The Administrative Agent shall not have any duties or obligations except those expressly set forth herein and in
the other Loan Documents. Without limiting the generality of the foregoing, the Administrative Agent:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers
expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed
in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein
or in the other Loan Documents), <U>provided</U> that the Administrative Agent shall not be required to take any action that, in
its opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that is contrary to any Loan Document
or applicable law; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
not, except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall not be liable for
the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained
by the Person serving as the Administrative Agent or any of its Affiliates in any capacity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Administrative
Agent shall not be liable for any action taken or not taken by it (i)&nbsp;with the consent or at the request of the Required Lenders
(or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good
faith shall be necessary, under the circumstances as provided in <U>Sections&nbsp;10.01</U> and <U>8.02</U>) or (ii)&nbsp;in the
absence of its own gross negligence or willful misconduct. The Administrative Agent shall be deemed not to have knowledge of any
Default unless and until notice describing such Default is given to the Administrative Agent by the Borrower, a Lender or the L/C
Issuer.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Administrative
Agent shall not be responsible for or have any duty to ascertain or inquire into (i)&nbsp;any statement, warranty or representation
made in or in connection with this Agreement or any other Loan Document, (ii)&nbsp;the contents of any certificate, report or other
document delivered hereunder or thereunder or in connection herewith or therewith, (iii)&nbsp;the performance or observance of
any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv)&nbsp;the
validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument
or document or (v)&nbsp;the satisfaction of any condition set forth in <U>Article&nbsp;IV</U> or elsewhere herein, other than to
confirm receipt of items expressly required to be delivered to the Administrative Agent.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>9.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Reliance
by Administrative Agent.</B> The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying
upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message,
Internet or intranet website posting or other distribution) reasonably believed by it to be genuine and to have been signed, sent
or otherwise authenticated by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or
by telephone and reasonably believed by it to have been made by the proper Person, and shall not incur any liability for relying
thereon. In determining compliance with any condition hereunder to the making of a Loan, or the issuance of a Letter of Credit,
that by its terms must be fulfilled to the satisfaction of a Lender or the L/C Issuer, the Administrative Agent may presume that
such condition is satisfactory to such Lender or the L/C Issuer unless the Administrative Agent shall have received notice to the
contrary from such Lender or the L/C Issuer prior to the making of such Loan or the issuance of such Letter of Credit. The Administrative
Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected
by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants
or experts.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>9.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Delegation
of Duties.</B> The Administrative Agent may perform any and all of its duties and exercise its rights and powers hereunder or under
any other Loan Document by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent
and any such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective
Related Parties. The exculpatory provisions of this Article shall apply to any such sub-agent and to the Related Parties of the
Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication
of the credit facilities provided for herein as well as activities as Administrative Agent.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>9.06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Resignation
of Administrative Agent.</B> (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Administrative Agent may at any time give notice of its resignation
to the Lenders, the L/C Issuer and the Borrower. The Administrative Agent will endeavor to give Borrower advance notice of its
intention to resign. Upon receipt of any such notice of resignation, the Required Lenders shall have the right, in consultation
with the Borrower, to appoint a successor, which shall be a bank with an office in the United States, or an Affiliate of any such
bank with an office in the United States. If no such successor shall have been so appointed by the Required Lenders and shall
have accepted such appointment within 30&nbsp;days after the retiring Administrative Agent gives notice of its resignation, then
the retiring Administrative Agent may on behalf of the Lenders and the L/C Issuer, appoint a successor Administrative Agent meeting
the qualifications set forth above; <U>provided</U> that if the Administrative Agent shall notify the Borrower and the Lenders
that no qualifying Person has accepted such appointment, then such resignation shall nonetheless become effective in accordance
with such notice and (1)&nbsp;the retiring Administrative Agent shall be discharged from its duties and obligations hereunder
and under the other Loan Documents and (2)&nbsp;all payments, communications and determinations provided to be made by, to or
through the Administrative Agent shall instead be made by or to each Lender and the L/C Issuer directly, until such time as the
Required Lenders appoint a successor Administrative Agent as provided for above in this Section. Upon the acceptance of a successor&rsquo;s
appointment as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers,
privileges and duties of the retiring (or retired) Administrative Agent, and the retiring Administrative Agent shall be discharged
from all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided
above in this Section). The fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable
to its predecessor unless otherwise agreed between the Borrower and such successor. After the retiring Administrative Agent&rsquo;s
resignation hereunder and under the other Loan Documents, the provisions of this Article and <U>Section&nbsp;10.04</U> shall continue
in effect for the benefit of such retiring Administrative Agent, its sub-agents and their respective Related Parties in respect
of any actions taken or omitted to be taken by any of them while the retiring Administrative Agent was acting as Administrative
Agent.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.05pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
resignation by Bank of America as Administrative Agent pursuant to this Section shall also constitute its resignation as L/C Issuer
and Swing Line Lender. Upon the acceptance of a successor&rsquo;s appointment as Administrative Agent hereunder, (a)&nbsp;such
successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer and
Swing Line Lender, (b)&nbsp;the retiring L/C Issuer and Swing Line Lender shall be discharged from all of their respective duties
and obligations hereunder or under the other Loan Documents, and (c)&nbsp;the successor L/C Issuer shall issue letters of credit
in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory
to the retiring L/C Issuer to effectively assume the obligations of the retiring L/C Issuer with respect to such Letters of Credit.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>9.07&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Non-Reliance
on Administrative Agent and Other Lenders.</B> Each Lender and the L/C Issuer acknowledges that it has, independently and without
reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information
as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender and the L/C Issuer
also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Lender or any of
their Related Parties and based on such documents and information as it shall from time to time deem appropriate, continue to make
its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or any related agreement
or any document furnished hereunder or thereunder.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>9.08&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>No
Other Duties, Etc.</B> Anything herein to the contrary notwithstanding, none of the Bookrunner(s), Arranger(s), Documentation Agent(s),
Syndication Agent(s) or other titles as necessary listed on the cover page hereof shall have any powers, duties or responsibilities
under this Agreement or any of the other Loan Documents, except in its capacity, as applicable, as the Administrative Agent, a
Lender or the L/C Issuer hereunder.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>9.09&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Administrative
Agent May File Proofs of Claim. </B></FONT>In case of the pendency of any proceeding under any Debtor Relief Law or any other judicial
proceeding relative to any Borrower, the Administrative Agent (irrespective of whether the principal of any Loan or L/C Obligation
shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative
Agent shall have made any demand on the Borrower) shall be entitled and empowered, by intervention in such proceeding or otherwise;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans, L/C Obligations
and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order
to have the claims of the Lenders, L/C Issuer and the Administrative Agent (including any claim for the reasonable compensation,
expenses, disbursements and advances of the Lenders, L/C Issuer and the Administrative Agent and their respective agents and counsel
and all other amounts due the Lenders, the L/C Issuer and the Administrative Agent under <U>Sections&nbsp;2.04(h)</U> and <U>(i)</U>,
<U>2:10</U> and <U>10.04</U>) allowed in such judicial proceeding; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">and any custodian, receiver, assignee,
trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender
and the L/C Issuer to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent
to the making of such payments directly to the Lenders and the L/C Issuer to pay to the Administrative Agent any amount due for
the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any
other amounts due the Administrative Agent under <U>Sections&nbsp;2:10</U> and <U>10.04</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Nothing contained
herein shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of any Lender
or the L/C Issuer any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of
any Lender or the L/C Issuer or to authorize the Administrative Agent to vote in respect of the claim of any Lender or the L/C
Issuer in any such proceeding.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>9.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Release
from Obligations under Loan Documents. </B>The Lenders irrevocably authorize the Administrative Agent to release any Borrower (other
than FSP) from its obligations hereunder and under each of the other Loan Documents to the extent such release is requested by
FSP or such Borrower in accordance the provisions set forth in <U>Section 6.12(b)</U> hereof and upon the satisfaction of the conditions
set forth in such <U>Section 6.12(b)</U> (as reasonably determined by the Administrative Agent). Upon request by the Administrative
Agent at any time, the Lenders will confirm in writing the Administrative Agent&rsquo;s authority to grant releases and terminations
pursuant to this <U>Section&nbsp;9.10</U>. Further, the Administrative Agent is hereby authorized by the Lenders, upon the request
of FSP or a Borrower that is released pursuant to <U>Section 6.12(b)</U> hereof, to execute and deliver to FSP and such Borrower
a document (in form and substance acceptable to the Administrative Agent) evidencing such release.</P>

<P STYLE="font: normal 10pt Times New Roman Bold; margin: 0 0 12pt; text-transform: uppercase; text-align: center; text-indent: 0in"><B>ARTICLE
X.<BR>
MISCELLANEOUS</B></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>10.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Amendments,
Etc.</B> No amendment or waiver of any provision of this Agreement or any other Loan Document, and no consent to any departure
by the Borrower therefrom, shall be effective unless in writing signed by the Required Lenders and the Borrower and acknowledged
by the Administrative Agent, and each such waiver or consent shall be effective only in the specific instance and for the specific
purpose for which given; <U>provided</U>, <U>however</U>, that no such amendment, waiver or consent shall:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;waive
any condition set forth in <U>Section&nbsp;4.01(a)</U> without the written consent of each Lender;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;extend
or increase the Commitment of any Lender (or reinstate any Commitment terminated pursuant to <U>Section&nbsp;8.02</U>) without
the written consent of such Lender;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;postpone
any date fixed by this Agreement or any other Loan Document for any payment or mandatory prepayment of principal, interest, fees
or other amounts due to the Lenders (or any of them) hereunder or under any other Loan Document or amend the definition of &ldquo;Revolver
Extended Maturity Date&rdquo; without the written consent of each Lender directly affected thereby; provided however that the Lenders&rsquo;
consent shall not be required for an extension of the Revolver Maturity Date provided for under <U>Section&nbsp;2.15</U> hereof;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;reduce
the principal of, or the rate of interest specified herein on, any Loan or L/C Borrowing, or any fees or other amounts payable
hereunder or under any other Loan Document without the written consent of each Lender directly affected thereby; <U>provided</U>,
<U>however</U>, that only the consent of the Required Lenders shall be necessary (i)&nbsp;to amend the definition of &ldquo;Default
Rate&rdquo; or (ii) to waive any obligation of the Borrower to pay interest or Letter of Credit Fees at the Default Rate;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;change
<U>Section 2.14</U> or <U>Section&nbsp;8.03</U> in a manner that would alter the pro rata sharing of payments required thereby
without the written consent of each Lender; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;change
any provision of this Section or the definition of &ldquo;Required Lenders&rdquo; or any other provision hereof specifying the
number or percentage of Lenders required to amend, waive or otherwise modify any rights hereunder or make any determination or
grant any consent hereunder, without the written consent of each Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">and, <U>provided</U> <U>further</U>,
that (i)&nbsp;no amendment, waiver or consent shall, unless in writing and signed by the L/C Issuer in addition to the Lenders
required above, affect the rights or duties of the L/C Issuer under this Agreement or any Issuer Document relating to any Letter
of Credit issued or to be issued by it; (ii)&nbsp;no amendment, waiver or consent shall, unless in writing and signed by the Swing
Line Lender in addition to any Lenders required above, affect the rights or duties of the Swing Line Lender under this Agreement;
(iii)&nbsp;no amendment, waiver or consent shall, unless in writing and signed by the Administrative Agent in addition to the Lenders
required above, affect the rights or duties of the Administrative Agent under this Agreement or any other Loan Document. Notwithstanding
anything to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent
hereunder (and any amendment, waiver or consent which by its terms requires the consent of all Lenders or each affected Lender
may be effected with the consent of the applicable Lenders other than Defaulting Lenders), except that (x)&nbsp;the Commitment
of any Defaulting Lender may not be increased or extended without the consent of such Lender and (y)&nbsp;any waiver, amendment
or modification requiring the consent of all Lenders or each affected Lender that by its terms affects any Defaulting Lender more
adversely than other affected Lenders shall require the consent of such Defaulting Lender.</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>10.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Notices;
Effectiveness; Electronic Communication</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notices
Generally</U>. Except in the case of notices and other communications expressly permitted to be given by telephone (and except
as provided in subsection&nbsp;(b) below), all notices and other communications provided for herein shall be in writing and shall
be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by telecopier as follows, and
all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone
number, as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
to the Borrower, the Administrative Agent, the L/C Issuer or the Swing Line Lender, to the address, telecopier number, electronic
mail address or telephone number specified for such Person on <U>Schedule&nbsp;10.02</U>; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
to any other Lender, to the address, telecopier number, electronic mail address or telephone number specified in its Administrative
Questionnaire (including, as appropriate, notices delivered solely to the Person designated by a Lender on its Administrative Questionnaire
then in effect for the delivery of notices that the Borrower has marked &ldquo;PUBLIC&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Notices and other communications sent
by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given upon confirmation
of receipt; notices and other communications sent by telecopier shall be deemed to have been given when sent (except that, if confirmation
of receipt does not occur during normal business hours for the recipient, shall be deemed to have been given at the opening of
business on the next business day for the recipient). Notices and other communications delivered through electronic communications
to the extent provided in subsection&nbsp;(b) below, shall be effective as provided in such subsection&nbsp;(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Electronic
Communications</U>. Notices and other communications to the Lenders and the L/C Issuer hereunder may be delivered or furnished
by electronic communication (including e-mail and Internet or intranet websites) pursuant to procedures approved by the Administrative
Agent, <U>provided</U> that the foregoing shall not apply to notices to any Lender or the L/C Issuer pursuant to <U>Article&nbsp;II</U>
if such Lender or the L/C Issuer, as applicable, has notified the Administrative Agent that it is incapable of receiving notices
under such Article by electronic communication. The Administrative Agent or the Borrower may, in its discretion, agree to accept
notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it, <U>provided</U>
that approval of such procedures may be limited to particular notices or communications.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Unless the Administrative
Agent otherwise prescribes, (i)&nbsp;notices and other communications sent to an e-mail address shall be deemed received upon the
sender&rsquo;s receipt of an acknowledgement from the intended recipient (such as by the &ldquo;return receipt requested&rdquo;
function, as available, return e-mail or other written acknowledgement), <U>provided</U> that if such notice or other communication
is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at
the opening of business on the next business day for the recipient, and (ii)&nbsp;notices or communications posted to an Internet
or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as described
in the foregoing clause&nbsp;(i) of notification that such notice or communication is available and identifying the website address
therefor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>The
Platform</U>. THE PLATFORM IS PROVIDED &ldquo;AS IS&rdquo; AND &ldquo;AS AVAILABLE.&rdquo; THE AGENT PARTIES (AS DEFINED BELOW)
DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY
FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY
OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE
DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative
Agent or any of its Related Parties (collectively, the &ldquo;<U>Agent Parties</U>&rdquo;) have any liability to the Borrower,
any Lender, the L/C Issuer or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort,
contract or otherwise) arising out of the Borrower&rsquo;s or the Administrative Agent&rsquo;s transmission of Borrower Materials
through the Internet, except to the extent that such losses, claims, damages, liabilities or expenses are determined by a court
of competent jurisdiction by a final and nonappealable judgment to have resulted from the gross negligence or willful misconduct
of such Agent Party; <U>provided</U>, <U>however</U>, that in no event shall any Agent Party have any liability to the Borrower,
any Lender, the L/C Issuer or any other Person for indirect, special, incidental, consequential or punitive damages (as opposed
to direct or actual damages).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Change
of Address, Etc</U>. Each of the Borrower, the Administrative Agent, the L/C Issuer and the Swing Line Lender may change its address,
telecopier, or telephone number for notices and other communications hereunder by notice to the other parties hereto. Each other
Lender may change its address, telecopier, or telephone number for notices and other communications hereunder by notice to the
Borrower, the Administrative Agent, the L/C Issuer and the Swing Line Lender. In addition, each Lender agrees to notify the Administrative
Agent from time to time to ensure that the Administrative Agent has on record (i)&nbsp;an effective address, contact name, telephone
number, telecopier number and electronic mail address to which notices and other communications may be sent and (ii)&nbsp;accurate
wire instructions for such Lender. Furthermore, each Public Lender agrees to cause at least one individual at or on behalf of such
Public Lender to at all times have selected the &ldquo;Private Side Information&rdquo; or similar designation on the content declaration
screen of the Platform in order to enable such Public Lender or its delegate, in accordance with such Public Lender&rsquo;s compliance
procedures and applicable Law, including United States federal and state securities Laws, to make reference to Borrower Materials
that are not made available through the &ldquo;Public Side Information&rdquo; portion of the Platform and that may contain material
non-public information with respect to the Borrower or its securities for purposes of United States federal or state securities
laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Reliance
by Administrative Agent, L/C Issuer and Lenders</U>. The Administrative Agent, the L/C Issuer and the Lenders shall be entitled
to rely and act upon any notices (including telephonic Committed Loan Notices and Swing Line Loan Notices) purportedly given by
or on behalf of the Borrower even if (i)&nbsp;such notices were not made in a manner specified herein, were incomplete or were
not preceded or followed by any other form of notice specified herein, or (ii)&nbsp;the terms thereof, as understood by the recipient,
varied from any confirmation thereof. The Borrower shall indemnify the Administrative Agent, the L/C Issuer, each Lender and the
Related Parties of each of them from all losses, costs, expenses and liabilities resulting from the reliance by such Person on
each notice purportedly given by or on behalf of the Borrower. All telephonic notices to and other telephonic communications with
the Administrative Agent may be recorded by the Administrative Agent, and each of the parties hereto hereby consents to such recording.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>10.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>No
Waiver; Cumulative Remedies; Enforcement.</B> No failure by any Lender, the L/C Issuer or the Administrative Agent to exercise,
and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder shall operate as a waiver thereof;
nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise
thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided
are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Notwithstanding
anything to the contrary contained herein or in any other Loan Document, the authority to enforce rights and remedies hereunder
and under the other Loan Documents against the Loan Parties or any of them shall be vested exclusively in, and all actions and
proceedings at law in connection with such enforcement shall be instituted and maintained exclusively by, the Administrative Agent
in accordance with <U>Section&nbsp;8.02</U> for the benefit of all the Lenders and the L/C Issuer; <U>provided</U>, <U>however</U>,
that the foregoing shall not prohibit (a)&nbsp;the Administrative Agent from exercising on its own behalf the rights and remedies
that inure to its benefit (solely in its capacity as Administrative Agent) hereunder and under the other Loan Documents, (b)&nbsp;the
L/C Issuer or the Swing Line Lender from exercising the rights and remedies that inure to its benefit (solely in its capacity as
L/C Issuer or Swing Line Lender, as the case may be) hereunder and under the other Loan Documents, (c)&nbsp;any Lender from exercising
setoff rights in accordance with <U>Section&nbsp;10.08</U> (subject to the terms of <U>Section&nbsp;2.14</U>), or (d)&nbsp;any
Lender from filing proofs of claim or appearing and filing pleadings on its own behalf during the pendency of a proceeding relative
to any Borrower under any Debtor Relief Law; and <U>provided</U>, <U>further</U>, that if at any time there is no Person acting
as Administrative Agent hereunder and under the other Loan Documents, then (i)&nbsp;the Required Lenders shall have the rights
otherwise ascribed to the Administrative Agent pursuant to <U>Section&nbsp;8.02</U> and (ii)&nbsp;in addition to the matters set
forth in clauses&nbsp;(b), (c) and (d) of the preceding proviso and subject to <U>Section&nbsp;2.14</U>, any Lender may, with the
consent of the Required Lenders, enforce any rights and remedies available to it <FONT STYLE="color: black">and as authorized by
the Required Lenders.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>10.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Expenses;
Indemnity; Damage Waiver</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Costs
and Expenses</U>. The Borrower shall pay (i)&nbsp;all reasonable out-of-pocket expenses incurred by the Administrative Agent and
its Affiliates (including the reasonable fees, charges and disbursements of counsel for the Administrative Agent), in connection
with the syndication of the credit facilities provided for herein (without duplication of any expenses paid by Borrower pursuant
to the Fee Letter relating to syndication of the credit facilities), the preparation, negotiation, execution, delivery and administration
of this Agreement and the other Loan Documents or any amendments, modifications or waivers of the provisions hereof or thereof
(whether or not the transactions contemplated hereby or thereby shall be consummated), (ii)&nbsp;all reasonable out-of-pocket expenses
incurred by the L/C Issuer in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand
for payment thereunder and (iii)&nbsp;all out-of-pocket expenses incurred by the Administrative Agent, any Lender or the L/C Issuer
(including the fees, charges and disbursements of any counsel for the Administrative Agent, any Lender or the L/C Issuer), in connection
with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including
its rights under this Section, or (B)&nbsp;in connection with the Loans made or Letters of Credit issued hereunder, including all
such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of Credit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Indemnification
by the Borrower</U>. The Borrower shall indemnify the Administrative Agent (and any sub-agent thereof), each Lender and the L/C
Issuer, and each Related Party of any of the foregoing Persons (each such Person being called an &ldquo;<U>Indemnitee</U>&rdquo;)
against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses (including
the reasonable fees, charges and disbursements of any counsel for any Indemnitee), and shall indemnify and hold harmless each Indemnitee
from all reasonable fees and time charges and disbursements for attorneys who may be employees of any Indemnitee, incurred by any
Indemnitee or asserted against any Indemnitee by any third party or by the Borrower arising out of, in connection with, or as a
result of (i)&nbsp;the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated
hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder, the consummation
of the transactions contemplated hereby or thereby, or, in the case of the Administrative Agent (and any sub-agent thereof) and
its Related Parties only, the administration of this Agreement and the other Loan Documents (including in respect of any matters
addressed in <U>Section&nbsp;3.01</U>), (ii)&nbsp;any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom
(including any refusal by the L/C Issuer to honor a demand for payment under a Letter of Credit if the documents presented in connection
with such demand do not strictly comply with the terms of such Letter of Credit), (iii)&nbsp;any Environmental Claims or any Environmental
Liability related in any way to the Borrower or any of its Subsidiaries, or (iv)&nbsp;any actual or prospective claim, litigation,
investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought
by a third party or by the Borrower, and regardless of whether any Indemnitee is a party thereto IN ALL CASES WHETHER OR NOT CAUSED
BY OR ARISING IN WHOLE OR IN PART, OUT OF THE COMPARATIVE, CONTRIBUTORY OR SOLE NEGLIGENCE OF THE INDEMNITEE; <U>provided</U> that
such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related
expenses (x)&nbsp;are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from
the gross negligence or willful misconduct of such Indemnitee or (y)&nbsp;result from a claim brought by the Borrower against an
Indemnitee for breach in bad faith of such Indemnitee&rsquo;s obligations hereunder or under any other Loan Document, if the Borrower
has obtained a final and nonappealable judgment in its favor on such claim as determined by a court of competent jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Reimbursement
by Lenders</U>. To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under subsection&nbsp;(a)
or&nbsp;(b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), the L/C Issuer or any Related
Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), the L/C
Issuer or such Related Party, as the case may be, such Lender&rsquo;s applicable Applicable Percentage (determined as of the time
that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount, <U>provided</U> that the unreimbursed
expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against
the Administrative Agent (or any such sub-agent) or the L/C Issuer in its capacity as such, or against any Related Party of any
of the foregoing acting for the Administrative Agent (or any such sub-agent) or L/C Issuer in connection with such capacity. The
obligations of the Lenders under this subsection&nbsp;(c) are subject to the provisions of <U>Section&nbsp;2.13(d)</U>.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Waiver
of Consequential Damages, Etc.</U> To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby
waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages
(as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan
Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or Letter
of Credit or the use of the proceeds thereof. No Indemnitee referred to in subsection&nbsp;(b) above shall be liable for any damages
arising from the use by unintended recipients of any information or other materials distributed to such unintended recipients by
such Indemnitee through telecommunications, electronic or other information transmission systems in connection with this Agreement
or the other Loan Documents or the transactions contemplated hereby or thereby other than for direct or actual damages resulting
from the gross negligence or willful misconduct of such Indemnitee as determined by a final and nonappealable judgment of a court
of competent jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payments</U>.
All amounts due under this Section shall be payable not later than ten Business Days after written demand therefor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Survival</U>.
The agreements in this Section shall survive the resignation of the Administrative Agent, the L/C Issuer and the Swing Line Lender,
the replacement of any Lender, the termination of the Aggregate Commitments and the repayment, satisfaction or discharge of all
the other Obligations.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>10.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Payments
Set Aside.</B> To the extent that any payment by or on behalf of the Borrower is made to the Administrative Agent, the L/C Issuer
or any Lender, or the Administrative Agent, the L/C Issuer or any Lender exercises its right of setoff, and such payment or the
proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or
required (including pursuant to any settlement entered into by the Administrative Agent, the L/C Issuer or such Lender in its discretion)
to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Law or otherwise,
then (a)&nbsp;to the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived
and continued in full force and effect as if such payment had not been made or such setoff had not occurred, and (b)&nbsp;each
Lender and the L/C Issuer severally agrees to pay to the Administrative Agent upon demand its applicable share (without duplication)
of any amount so recovered from or repaid by the Administrative Agent, plus interest thereon from the date of such demand to the
date such payment is made at a rate per annum equal to the Federal Funds Rate from time to time in effect. The obligations of the
Lenders and the L/C Issuer under clause&nbsp;(b) of the preceding sentence shall survive the payment in full of the Obligations
and the termination of this Agreement.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>10.06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Successors
and Assigns</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Successors
and Assigns Generally</U>. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto
and their respective successors and assigns permitted hereby, except that the Borrower may not assign or otherwise transfer any
of its rights or obligations hereunder without the prior written consent of the Administrative Agent and each Lender and no Lender
may assign or otherwise transfer any of its rights or obligations hereunder except (i)&nbsp;to an assignee in accordance with the
provisions of subsection&nbsp;(b) of this Section, (ii)&nbsp;by way of participation in accordance with the provisions of subsection&nbsp;(d)
of this Section, or<B> </B>(iii)&nbsp;by way of pledge or assignment of a security interest subject to the restrictions of subsection&nbsp;(f)
of this Section (and any other attempted assignment or transfer by any party hereto shall be null and void). Nothing in this Agreement,
expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors
and assigns permitted hereby, Participants to the extent provided in subsection&nbsp;(d) of this Section and, to the extent expressly
provided herein, the Related Parties of each of the Administrative Agent, the L/C Issuer and the Lenders) any legal or equitable
right, remedy or claim under or by reason of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Assignments
by Lenders</U>. Any Lender may at any time assign to one or more assignees all or a portion of its rights and obligations under
this Agreement (including all or a portion of its Commitment and the Loans (including for purposes of this subsection&nbsp;(b),
participations in L/C Obligations and in Swing Line Loans) at the time owing to it); <U>provided</U> that any such assignment shall
be subject to the following conditions:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Minimum
Amounts</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(A)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in
the case of an assignment of the entire remaining amount of the assigning Lender&rsquo;s Commitment and the Loans at the time owing
to it or in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(B)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in
any case not described in subsection&nbsp;(b)(i)(A) of this Section, the aggregate amount of the Commitment (which for this purpose
includes Loans outstanding thereunder) or, if the Commitment is not then in effect, the principal outstanding balance of the Loans
of the assigning Lender subject to each such assignment, determined as of the date the Assignment and Assumption with respect to
such assignment is delivered to the Administrative Agent or, if &ldquo;Trade Date&rdquo; is specified in the Assignment and Assumption,
as of the Trade Date, shall not be less than $5,000,000 (and in integral multiples of $1,000,000 in excess thereof) unless each
of the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Borrower otherwise consents
(each such consent not to be unreasonably withheld or delayed); <U>provided</U>, <U>however</U>, that concurrent assignments to
members of an Assignee Group and concurrent assignments from members of an Assignee Group to a single Eligible Assignee (or to
an Eligible Assignee and members of its Assignee Group) will be treated as a single assignment for purposes of determining whether
such minimum amount has been met.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Proportionate
Amounts</U>. Each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender&rsquo;s
rights and obligations under this Agreement with respect to the Loans or the Commitment assigned, except that this clause&nbsp;(ii)
shall not apply to rights in respect of the Swing Line Lender&rsquo;s rights and obligations in respect of Swing Line Loans. Each
assignment shall be of an equal proportionate share of the assigning Lender&rsquo;s rights and obligations under the Revolving
Loan Commitment and Term Loan Commitment;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Required
Consents</U>. No consent shall be required for any assignment, except to the extent required by <U>subsection&nbsp;(b)(i)(B)</U>
of this Section and, in addition:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(A)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
consent of the Borrower (such consent not to be unreasonably withheld) shall be required unless (1)&nbsp;an Event of Default has
occurred and is continuing at the time of such assignment; or (2) such assignment is to a Lender, an Affiliate of a Lender, or
an Approved Fund; <U>provided</U>, that the Borrower shall be deemed to have consented to any such assignment unless it shall object
thereto by written notice to the Administrative Agent within five (5) Business Days after having received notice thereof;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(B)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) shall be required if such assignment
is to a Person that is not a Lender, an Affiliate of such Lender or an Approved Fund with respect to such Lender;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(C)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
consent of the L/C Issuer (such consent not to be unreasonably withheld or delayed) shall be required for any assignment that increases
the obligation of the assignee to participate in exposure under one or more Letters of Credit (whether or not then outstanding);
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(D)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
consent of the Swing Line Lender (such consent not to be unreasonably withheld or delayed) shall be required for any assignment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Assignment
and Assumption</U>. The parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption,
together with a processing and recordation fee in the amount of $3,500; <U>provided</U>, <U>however</U>, that the Administrative
Agent may, in its sole discretion, elect to waive such processing and recordation fee in the case of any assignment. The assignee,
if it is not a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Assignment to Certain Persons</U>. No such assignment shall be made (A)&nbsp;to the Borrower or any of the Borrower&rsquo;s Affiliates
or Subsidiaries, or (B)&nbsp;to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder,
would constitute any of the foregoing Persons described in this clause&nbsp;(B), (C)&nbsp;to a natural person, or (D) to a competitor
of the Borrower listed on <U>Schedule 10.06(b)(v)</U> attached hereto, as such schedule may be updated from time to time as approved
by the Administrative Agent .</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Certain
Additional Payments</U>. In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such
assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the
assignment shall make such additional payments to the Administrative Agent in an aggregate amount sufficient, upon distribution
thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other
compensating actions, including funding, with the consent of the Borrower and the Administrative Agent, the applicable pro rata
share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor
hereby irrevocably consent), to (x)&nbsp;pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to
the Administrative Agent or any Lender hereunder (and interest accrued thereon) and (y)&nbsp;acquire (and fund as appropriate)
its full pro rata share of all Loans and participations in Letters of Credit and Swing Line Loans in accordance with its applicable
Applicable Percentage. Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting
Lender hereunder shall become effective under applicable Law without compliance with the provisions of this paragraph, then the
assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Subject to acceptance and recording
thereof by the Administrative Agent pursuant to subsection&nbsp;(c) of this Section, from and after the effective date specified
in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest
assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning
Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations
under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender&rsquo;s rights and
obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits
of <U>Sections&nbsp;3.01</U>, <U>3.04</U>, <U>3.05</U>, and <U>10.04</U> with respect to facts and circumstances occurring prior
to the effective date of such assignment. Upon request, the Borrower (at its expense) shall execute and deliver a Note to the assignee
Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this subsection
shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance
with subsection&nbsp;(d) of this Section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Register</U>.
The Administrative Agent, acting solely for this purpose as an agent of the Borrower (and such agency being solely for tax purposes),
shall maintain at the Administrative Agent&rsquo;s Office a copy of each Assignment and Assumption delivered to it and a register
for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts of the Loans and L/C
Obligations owing to, each Lender pursuant to the terms hereof from time to time (the &ldquo;<U>Register</U>&rdquo;). The entries
in the Register shall be conclusive, and the Borrower, the Administrative Agent and the Lenders may treat each Person whose name
is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding
notice to the contrary. <FONT STYLE="color: black">In addition, the Administrative Agent shall maintain on the Register information
regarding the designation, and revocation of designation, of any Lender as a Defaulting Lender</FONT>. The Register shall be available
for inspection by the Borrower and any Lender, at any reasonable time and from time to time upon reasonable prior notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Participations</U>.
Any Lender may at any time, without the consent of, or notice to, the Borrower or the Administrative Agent, sell participations
to any Person (other than a natural person, a Defaulting Lender or the Borrower or any of the Borrower&rsquo;s Affiliates or Subsidiaries)
(each, a &ldquo;<U>Participant</U>&rdquo;) in all or a portion of such Lender&rsquo;s rights and/or obligations under this Agreement
(including all or a portion of its Commitment and/or the Loans (including such Lender&rsquo;s participations in L/C Obligations
and/or Swing Line Loans) owing to it); <U>provided</U> that (i)&nbsp;such Lender&rsquo;s obligations under this Agreement shall
remain unchanged, (ii)&nbsp;such Lender shall remain solely responsible to the other parties hereto for the performance of such
obligations and (iii)&nbsp;the Borrower, the Administrative Agent, the Lenders and the L/C Issuer shall continue to deal solely
and directly with such Lender in connection with such Lender&rsquo;s rights and obligations under this Agreement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">Any agreement
or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right
to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; <U>provided</U>
that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment,
waiver or other modification described in the lettered items of the first proviso to <U>Section&nbsp;10.01</U> that affects such
Participant. Subject to subsection&nbsp;(e) of this Section, the Borrower agrees that each Participant shall be entitled to the
benefits of <U>Sections&nbsp;3.01</U>, <U>3.04</U> and <U>3.05</U><I> </I>to the same extent as if it were a Lender and had acquired
its interest by assignment pursuant to subsection&nbsp;(b) of this Section. To the extent permitted by law, each Participant also
shall be entitled to the benefits of <U>Section&nbsp;10.08</U><I> </I>as though it were a Lender, <U>provided</U> such Participant
agrees to be subject to <U>Section&nbsp;2.14</U> as though it were a Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Limitations
upon Participant Rights</U>. A Participant shall not be entitled to receive any greater payment under <U>Section&nbsp;3.01</U>
or <U>3.04</U><I> </I>than the applicable Lender would have been entitled to receive with respect to the participation sold to
such Participant. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of <U>Section&nbsp;3.01</U>
unless the Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the
Borrower, to comply with <U>Section&nbsp;3.01(e)</U> as though it were a Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Certain
Pledges</U>. Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement
(including under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations
to a Federal Reserve Bank; <U>provided</U> that no such pledge or assignment shall release such Lender from any of its obligations
hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Intentionally
Omitted</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Resignation
as L/C Issuer or Swing Line Lender after Assignment</U>. Notwithstanding anything to the contrary contained herein, if at any time
Bank of America assigns all of its Commitment and Loans pursuant to subsection&nbsp;(b) above, Bank of America may, (i)&nbsp;upon
30 days&rsquo; notice to the Borrower and the Lenders, resign as L/C Issuer and/or (ii)&nbsp;upon 30 days&rsquo; notice to the
Borrower, resign as Swing Line Lender. In the event of any such resignation as L/C Issuer or Swing Line Lender, the Borrower shall
be entitled to appoint from among the Lenders a successor L/C Issuer or Swing Line Lender hereunder; <U>provided</U>, <U>however</U>,
that no failure by the Borrower to appoint any such successor shall affect the resignation of Bank of America as L/C Issuer or
Swing Line Lender, as the case may be. If Bank of America resigns as L/C Issuer, it shall retain all the rights, powers, privileges
and duties of the L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation
as L/C Issuer and all L/C Obligations with respect thereto (including the right to require the Lenders to make Base Rate Committed
Loans or fund risk participations in Unreimbursed Amounts pursuant to <U>Section&nbsp;2.04(c)</U>). If Bank of America resigns
as Swing Line Lender, it shall retain all the rights of the Swing Line Lender provided for hereunder with respect to Swing Line
Loans made by it and outstanding as of the effective date of such resignation, including the right to require the Lenders to make
Base Rate Committed Loans or fund risk participations in outstanding Swing Line Loans pursuant to <U>Section&nbsp;2.05(c)</U>.
Upon the appointment of a successor L/C Issuer and/or Swing Line Lender, (a)&nbsp;such successor shall succeed to and become vested
with all of the rights, powers, privileges and duties of the retiring L/C Issuer or Swing Line Lender, as the case may be, and
(b)&nbsp;the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding
at the time of such succession or make other arrangements satisfactory to Bank of America to effectively assume the obligations
of Bank of America with respect to such Letters of Credit.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>10.07&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Treatment
of Certain Information; Confidentiality.</B> Each of the Administrative Agent, the Lenders and the L/C Issuer agrees to maintain
the confidentiality of the Information (as defined below), except that Information may be disclosed (a)&nbsp;to its Affiliates
and to its and its Affiliates&rsquo; respective partners, directors, officers, employees, agents, trustees, advisors and representatives
SOLELY IN CONNECTION WITH THIS Agreement and the Loan Documents (it being understood that the Persons to whom such disclosure is
made will be informed of the confidential nature of such Information and instructed to keep such Information confidential), (b)&nbsp;to
the extent requested by any regulatory authority purporting to have jurisdiction over it (including any self-regulatory authority,
such as the National Association of Insurance Commissioners), (c)&nbsp;to the extent required by applicable laws or regulations
or by any subpoena or similar legal process, (d)&nbsp;to any other party hereto, (e)&nbsp;in connection with the exercise of any
remedies hereunder or under any other Loan Document or any action or proceeding relating to this</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Agreement or
any other Loan Document or the enforcement of rights hereunder or thereunder, (f)&nbsp;subject to an agreement containing provisions
substantially the same as those of this Section, to (i)&nbsp;any assignee of or Participant in, or any prospective assignee of
or Participant in, any of its rights or obligations under this Agreement or any Eligible Assignee invited to be a Lender pursuant
to Section 2.16(c) or (ii)&nbsp;any actual or prospective counterparty (or its advisors) to any swap or derivative transaction
relating to the Borrower and its obligations, (g)&nbsp;with the consent of the Borrower or (h)&nbsp;to the extent such Information
(x)&nbsp;becomes publicly available other than as a result of a breach of this Section or (y)&nbsp;becomes available to the Administrative
Agent, any Lender, the L/C Issuer or any of their respective Affiliates on a nonconfidential basis from a source other than the
Borrower. For purposes of this Section, &ldquo;<U>Information</U>&rdquo; means all information received from the Borrower or any
Subsidiary relating to the Borrower or any Subsidiary or any of their respective businesses, other than any such information that
is available to the Administrative Agent, any Lender or the L/C Issuer on a nonconfidential basis prior to disclosure by the Borrower
or any Subsidiary, provided that, in the case of information received from the Borrower or any Subsidiary after the date hereof,
all such information shall be deemed to be confidential unless the Borrower or such Subsidiary has clearly and conspicuously marked
such information as &ldquo;PUBLIC&rdquo; in accordance with Section 6.02 hereof. Any Person required to maintain the confidentiality
of Information as provided in this Section shall be considered to have complied with its obligation to do so if such Person has
exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential
information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Each of the Administrative
Agent, the Lenders and the L/C Issuer acknowledges that (a)&nbsp;the Information may include material non-public information concerning
the Borrower or a Subsidiary, as the case may be, (b)&nbsp;it has developed compliance procedures regarding the use of material
non-public information and (c)&nbsp;it will handle such material non-public information in accordance with applicable Law, including
United States federal and state securities Laws.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>10.08&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Right
of Setoff.</B> If an Event of Default shall have occurred and be continuing, each Lender, the L/C Issuer and each of their respective
Affiliates is hereby authorized at any time and from time to time, after obtaining the prior written consent of the Administrative
Agent, to the fullest extent permitted by applicable law, to set off and apply any and all deposits (general or special, time or
demand, provisional or final, in whatever currency) at any time held and other obligations (in whatever currency) at any time owing
by such Lender, the L/C Issuer or any such Affiliate to or for the credit or the account of the Borrower against any and all of
the obligations of the Borrower now or hereafter existing under this Agreement or any other Loan Document to such Lender or the
L/C Issuer, irrespective of whether or not such Lender or the L/C Issuer shall have made any demand under this Agreement or any
other Loan Document and although such obligations of the Borrower may be contingent or unmatured or are owed to a branch or office
of such Lender or the L/C Issuer different from the branch or office holding such deposit or obligated on such indebtedness; <FONT STYLE="color: black">provided,
that in the event that any Defaulting Lender shall exercise any such right of setoff, (x)&nbsp;all amounts so set off shall be
paid over immediately to the Administrative Agent for further application in accordance with the provisions of <U>Section&nbsp;2.18</U>
and, pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the
benefit of the Administrative Agent and the Lenders, and (y)&nbsp;the Defaulting Lender shall provide promptly to the Administrative
Agent a statement describing in reasonable detail the Obligations owing to such Defaulting Lender as to which it exercised such
right of setoff.</FONT> The rights of each Lender, the L/C Issuer and their respective Affiliates under this Section are in addition
to other rights and remedies (including other rights of setoff) that such Lender, the L/C Issuer or their respective Affiliates
may have. Each Lender and the L/C Issuer agrees to notify the Borrower and the Administrative Agent promptly after any such setoff
and application, <U>provided</U> that the failure to give such notice shall not affect the validity of such setoff and application.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>10.09&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Interest
Rate Limitation.</B> Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed to be
paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the &ldquo;<U>Maximum
Rate</U>&rdquo;). If the Administrative Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate,
the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrower.
In determining whether the interest contracted for, charged, or received by the Administrative Agent or a Lender exceeds the Maximum
Rate, such Person may, to the extent permitted by applicable Law, (a)&nbsp;characterize any payment that is not principal as an
expense, fee, or premium rather than interest, (b)&nbsp;exclude voluntary prepayments and the effects thereof, and (c)&nbsp;amortize,
prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations
hereunder.</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>10.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Counterparts;
Integration; Effectiveness.</B> This Agreement may be executed in counterparts (and by different parties hereto in different counterparts),
each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement
and the other Loan Documents constitute the entire contract among the parties relating to the subject matter hereof and supersede
any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Except as provided
in <U>Section&nbsp;4.01</U>, this Agreement shall become effective when it shall have been executed by the Administrative Agent
and when the Administrative Agent shall have received counterparts hereof that, when taken together, bear the signatures of each
of the other parties hereto. Delivery of an executed counterpart of a signature page of this Agreement by telecopy or other electronic
imaging means shall be effective as delivery of a manually executed counterpart of this Agreement.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>10.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Survival
of Representations and Warranties.</B> All representations and warranties made hereunder and in any other Loan Document or other
document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery hereof
and thereof. Such representations and warranties have been or will be relied upon by the Administrative Agent and each Lender,
regardless of any investigation made by the Administrative Agent or any Lender or on their behalf and notwithstanding that the
Administrative Agent or any Lender may have had notice or knowledge of any Default at the time of any Credit Extension, and shall
continue in full force and effect as long as any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied or any
Letter of Credit shall remain outstanding.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>10.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Severability.</B>
If any provision of this Agreement or the other Loan Documents is held to be illegal, invalid or unenforceable, (a)&nbsp;the legality,
validity and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be affected or
impaired thereby and (b)&nbsp;the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable
provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable
provisions. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision
in any other jurisdiction. Without limiting the foregoing provisions of this <U>Section&nbsp;10.12</U>, if and to the extent that
the enforceability of any provisions in this Agreement relating to Defaulting Lenders shall be limited by Debtor Relief Laws, as
determined in good faith by the Administrative Agent, the L/C Issuer or the Swing Line Lender, as applicable, then such provisions
shall be deemed to be in effect only to the extent not so limited.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>10.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Replacement
of Lenders.</B> If any Lender requests compensation under <U>Section&nbsp;3.04</U>, or if the Borrower is required to pay any additional
amount to any Lender or any Governmental Authority for the account of any Lender pursuant to <U>Section&nbsp;3.01</U>, or if any
Lender is a Defaulting Lender, or if any other circumstance exists hereunder that gives the Borrower the right to replace a Lender
as a party hereto, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent,
require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in,
and consents required by, <U>Section&nbsp;10.06</U>), all of its interests, rights and obligations under this Agreement and the
related Loan Documents to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts
such assignment), <U>provided</U> that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Borrower shall have paid to the Administrative Agent the assignment fee specified in <U>Section&nbsp;10.06(b)</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;such
Lender shall have received payment of an amount equal to 100% of the outstanding principal of its Loans and L/C Advances, accrued
interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any
amounts under <U>Section&nbsp;3.05</U>) from the assignee (to the extent of such outstanding principal and accrued interest and
fees) or the Borrower (in the case of all other amounts);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in
the case of any such assignment resulting from a claim for compensation under <U>Section&nbsp;3.04</U> or payments required to
be made pursuant to <U>Section&nbsp;3.01</U>, such assignment will result in a reduction in such compensation or payments thereafter;
and</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;such
assignment does not conflict with applicable Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">A Lender shall not
be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the
circumstances entitling the Borrower to require such assignment and delegation cease to apply.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>10.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Governing
Law; Jurisdiction; Etc</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>GOVERNING
LAW</U>. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK PURSUANT TO SECTION
5-1401 OF THE GENERAL OBLIGATIONS LAWS OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO NEW YORK&rsquo;S PRINCIPLES OF CONFLICTS
OF LAW).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>SUBMISSION
TO JURISDICTION</U>. THE BORROWER IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE NONEXCLUSIVE JURISDICTION
OF THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT
OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT
OR ANY OTHER LOAN DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY
AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR,
TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT
IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY
OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE
AGENT, ANY LENDER OR THE L/C ISSUER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER
LOAN DOCUMENT AGAINST ANY BORROWER OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>WAIVER
OF VENUE</U>. THE BORROWER IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION
THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT
OR ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN PARAGRAPH&nbsp;(B) OF THIS SECTION. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION
OR PROCEEDING IN ANY SUCH COURT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.4pt; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>SERVICE
OF PROCESS</U>. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN <U>SECTION&nbsp;10.02</U>.
NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE
LAW.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>10.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Waiver
of Jury Trial.</B> EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT
MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY
OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH
PARTY HERETO (A)&nbsp;CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE,
THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B)&nbsp;ACKNOWLEDGES THAT
IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS,
THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.</P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>10.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>No
Advisory or Fiduciary Responsibility.</B> In connection with all aspects of each transaction contemplated hereby (including in
connection with any amendment, waiver or other modification hereof or of any other Loan Document), the Borrower acknowledges and
agrees, and acknowledges its Affiliates&rsquo; understanding, that: (i)&nbsp;(A)&nbsp;the arranging and other services regarding
this Agreement provided by the Administrative Agent and the Arranger are arm&rsquo;s-length commercial transactions between the
Borrower and its Affiliates, on the one hand, and the Administrative Agent and the Arranger, on the other hand, (B)&nbsp; the Borrower
has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (C)&nbsp;the
Borrower is capable of evaluating, and understands and accepts, the terms, risks and conditions of the transactions contemplated
hereby and by the other Loan Documents; (ii)&nbsp;(A)&nbsp;the Administrative Agent and the Arranger each is and has been acting
solely as a principal and, except as expressly agreed in writing by the relevant parties, has not been, is not, and will not be
acting as an advisor, agent or fiduciary for the Borrower or any of its Affiliates, or any other Person and (B)&nbsp;neither the
Administrative Agent nor the Arranger has any obligation to the Borrower or any of its Affiliates with respect to the transactions
contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; and (iii)&nbsp;the Administrative
Agent, the Arranger and their respective Affiliates may be engaged in a broad range of transactions that involve interests that
differ from those of the Borrower and its Affiliates, and neither the Administrative Agent nor the Arranger has any obligation
to disclose any of such interests to the Borrower or its Affiliates. To the fullest extent permitted by law, the Borrower hereby
waives and releases any claims that it may have against the Administrative Agent and the Arranger with respect to any breach or
alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>10.17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Electronic
Execution of Assignments and Certain Other Documents.</B> The words &ldquo;execution,&rdquo; &ldquo;signed,&rdquo; &ldquo;signature,&rdquo;
and words of like import in any Assignment and Assumption or in any amendment or other modification hereof (including waivers and
consents) shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be
of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping
system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures
in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws
based on the Uniform Electronic Transactions Act.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>10.18&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>USA
PATRIOT Act.</B> Each Lender that is subject to the Act (as hereinafter defined) and the Administrative Agent (for itself and not
on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the USA PATRIOT Act (Title&nbsp;III
of Pub. L.&nbsp;107-56 (signed into law October&nbsp;26, 2001)) (the &ldquo;<U>Act</U>&rdquo;), it is required to obtain, verify
and record information that identifies the Borrower, which information includes the name and address of the Borrower and other
information that will allow such Lender or the Administrative Agent, as applicable, to identify the Borrower in accordance with
the Act. The Borrower shall, promptly following a request by the Administrative Agent or any Lender, provide all documentation
and other information that the Administrative Agent or such Lender requests in order to comply with its ongoing obligations under
applicable &ldquo;know your customer&rdquo; and anti-money laundering rules and regulations, including the Act.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>10.19&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Time
of the Essence. </B>Time is of the essence of the Loan Documents.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman Bold,serif"><B>10.20&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>ENTIRE
AGREEMENT<FONT STYLE="text-transform: uppercase">. </FONT> </B>THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL
AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF
THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">[remainder of page left intentionally
blank &ndash; signature pages, exhibits and schedules to follow]</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>IN WITNESS WHEREOF,
</I>the parties hereto have caused this Agreement to be duly executed as of the date first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 3in; text-indent: -3in"><FONT STYLE="font-family: Times New Roman Bold,serif; letter-spacing: -0.15pt"><B><U>BORROWER</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;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>FRANKLIN
STREET PROPERTIES CORP.,<BR>
</B>a Maryland corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 1in 0 3in"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 1in 0 3in"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP HOLDINGS LLC,</B><BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP INVESTMENTS LLC,</B><BR>
a Massachusetts limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP PROPERTY MANAGEMENT LLC,</B><BR>
a Massachusetts limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: Executive Vice President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP PROTECTIVE TRS CORP.,</B><BR>
a Massachusetts corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP HILLVIEW CENTER LIMITED PARTNERSHIP</B>,<BR>
a Massachusetts limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP Holdings LLC, its General Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: <U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP MONTAGUE BUSINESS CENTER CORP</B><FONT STYLE="text-transform: uppercase">.</FONT>,<BR>
a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP GREENWOOD PLAZA CORP.</B>,<BR>
a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP 380 INTERLOCKEN CORP.</B>,<BR>
a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP 390 INTERLOCKEN
LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP BLUE LAGOON
DRIVE LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP ONE LEGACY
CIRCLE LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP ONE OVERTON
PARK LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP ONE RAVINIA
DRIVE LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP NORTHWEST
POINT LLC</B>,</FONT><BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP RIVER CROSSING
LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP EAST BALTIMORE
STREET LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP SOUTHFIELD CENTRE LIMITED PARTNERSHIP</B>, <BR>
a Massachusetts
limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP Holdings LLC, its General Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: <U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4.55in; text-indent: -0.75in">Name: George J. Carter</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4.55in; text-indent: -0.75in">Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.75in; text-indent: -0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.75in; text-indent: -0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP EDeN BLUFF
CORPORATE CENTER I LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP 121 South
eighth street LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP 1410 east
renner road LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP LAKESIDE
CROSSING I LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP LEGACY TENNYSON
CENTER LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">F<B>SP FOREST PARK IV NC LIMITED PARTNERSHIP</B>,<BR>
a North Carolina limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP Forest Park IV LLC, its General Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: <U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4.55in; text-indent: -0.75in">Name: George J. Carter</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4.55in; text-indent: -0.75in">Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP PARK SENECA LIMITED PARTNERSHIP</B>,<BR>
a Massachusetts limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP Holdings LLC, its General Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: <U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4.55in; text-indent: -0.75in">Name: George J. Carter</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4.55in; text-indent: -0.75in">Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP ADDISON CIRCLE LIMITED PARTNERSHIP</B>,<BR>
a Texas limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP Addison Circle LLC, its General Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: <U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4.55in; text-indent: -0.75in">Name: George J. Carter</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4.55in; text-indent: -0.75in">Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP COLLINS CROSSING LIMITED PARTNERSHIP</B>,<BR>
a Texas limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP Collins Crossing LLC, its General Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: <U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4.55in; text-indent: -0.75in">Name: George J. Carter</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4.55in; text-indent: -0.75in">Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<!-- Field: Page; Sequence: 93; Section: Part A; Value: 1 -->
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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP ELDRIDGE GREEN LIMITED PARTNERSHIP</B>,<BR>
a Texas limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP Eldridge Green LLC, its General Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: <U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4.55in; text-indent: -0.75in">Name: George J. Carter</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4.55in; text-indent: -0.75in">Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP LIBERTY PLAZA LIMITED PARTNERSHIP</B>,<BR>
a Texas limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP Holdings LLC, its General Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: <U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4.55in; text-indent: -0.75in">Name: George J. Carter</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4.55in; text-indent: -0.75in">Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP PARK TEN LIMITED PARTNERSHIP</B>,<BR>
a Texas limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP Park Ten LLC, its General Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: <U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4.55in; text-indent: -0.75in">Name: George J. Carter</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4.55in; text-indent: -0.75in">Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP PARK TEN PHASE II LIMITED PARTNERSHIP</B>,<BR>
a Texas limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP Park Ten Development LLC, its General Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: <U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4.55in; text-indent: -0.75in">Name: George J. Carter</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4.55in; text-indent: -0.75in">Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP WILLOW BEND OFFICE CENTER LIMITED PARTNERSHIP</B>,
<BR>
a Texas limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.5in">By:</TD><TD>FSP WILLOW BEND OFFICE CENTER LLC, its General Partner</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: <U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4.55in; text-indent: -0.75in">Name: George J. Carter</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4.55in; text-indent: -0.75in">Title: President</P>

<!-- Field: Page; Sequence: 94; Section: Part A; Value: 1 -->
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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP dulles virginia
LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP INNSBROOK CORP.</B>, <BR>
a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP 4807 STONECROFT BOULEVARD LLC</B>,<BR>
 a Delaware limited
liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP 4820 EMPEROR BOULEVARD LLC</B>, <BR>
a Delaware limited
liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP 909 DAVIS STREET LLC</B>,<BR>
 a Delaware limited liability
company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP ADDISON CIRCLE CORP.</B>,<BR>
 a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>&nbsp;</B></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP ADDISON CIRCLE LLC</B>, a Delaware limited liability
company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP BLUE LAGOON DRIVE CORP.</B>, a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP COLLINS CROSSING CORP.</B>, a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP COLLINS CROSSING LLC</B>, a Delaware limited liability
company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP ELDRIDGE GREEN CORP.</B>, a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP ELDRIDGE GREEN LLC</B>, a Delaware limited liability
company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<!-- Field: Page; Sequence: 96; Section: Part A; Value: 1 -->
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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP EMPEROR BOULEVARD LIMITED PARTNERSHIP</B>, <BR>
a Delaware
limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.5in">By:</TD><TD>FSP 4820 Emperor Boulevard LLC, its general partner</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: <U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Name: George J. Carter</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.72in">Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP FOREST PARK IV LLC</B>, <BR>
a Delaware limited liability
company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP PARK TEN DEVELOPMENT CORP.</B>, <BR>
a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP PARK TEN DEVELOPMENT LLC</B>,<BR>
 a Delaware limited
liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP PARK TEN LLC</B>, <BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP WILLOW BEND OFFICE CENTER CORP.</B>,<BR>
 a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP WILLOW BEND OFFICE CENTER LLC</B>, <BR>
a Delaware limited
liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> /s/ George J. Carter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: George J. Carter<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 3in">&nbsp;</P>

<!-- Field: Page; Sequence: 98; Section: Part A; Value: 1 -->
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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 2.5in; text-indent: -2.5in"><FONT STYLE="font-family: Times New Roman Bold,serif; letter-spacing: -0.15pt"><B><U>LENDERS/AGENT</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;BANK
OF AMERICA, N.A.,<BR>
</B></FONT>individually in its capacity as Administrative Agent<BR>
<BR>
<BR>
By:<U> /s/ Oltiana Pappas&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: Oltiana Pappas<BR>
Title: Senior Vice President<BR>
<BR>
<BR>
[signature pages continue]</P>

<!-- Field: Page; Sequence: 99; Section: Part A; Value: 1 -->
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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 2.5in"><B>BANK OF AMERICA,
N.A.</B>,<BR>
individually in its capacity as a Lender, L/C Issuer<BR>
and Swing Line Lender<BR>
<BR>
<BR>
By:<U> /s/ Oltiana Pappas&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: Oltiana Pappas<BR>
Title: Senior Vice President<BR>
<BR>
<BR>
[signature pages continue]</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 40.5pt 12pt 2.5in"><FONT STYLE="letter-spacing: -0.15pt"><B>COMPASS
BANK, <BR>
</B>an Alabama banking corporation, individually in its capacity as a Lender and Documentation Agent<BR>
<BR>
<BR>
<BR>
By:<U> /s/ S. Kent Gorman&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: S. Kent Gorman<BR>
Title: Senior Vice President<BR STYLE="mso-special-character: line-break">
<BR STYLE="mso-special-character: line-break">
</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 40.5pt 12pt 2.5in"><FONT STYLE="letter-spacing: -0.15pt"><B>REGIONS
BANK, </B>individually in its capacity as a Lender and Syndication Agent<BR>
<BR>
<BR>
<BR>
By:<U> /s/ Paul E. Burgan&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: Paul E. Burgan<BR>
Title: Vice President<BR STYLE="mso-special-character: line-break">
<BR STYLE="mso-special-character: line-break">
</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 76.5pt 12pt 2.5in"><FONT STYLE="letter-spacing: -0.15pt"><B>RBS CITIZENS,
NATIONAL ASSOCIATION</B>,<BR>
as Syndication Agent and individually in its capacity as a Lender<BR>
<BR>
<BR>
<BR>
By:<U> /s/ Lisa M. Greeley&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: Lisa M. Greeley<BR>
Title: Senior Vice President<BR STYLE="mso-special-character: line-break">
<BR STYLE="mso-special-character: line-break">
</FONT></P>

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<BR STYLE="mso-special-character: line-break">
</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 76.5pt 12pt 2.5in"><FONT STYLE="letter-spacing: -0.15pt"><B>BANK
OF MONTREAL</B>,<BR>
as Syndication Agent and individually in its capacity as a Lender<BR>
<BR>
<BR>
<BR>
By:<U> /s/ Lloyd Baron&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: Lloyd Baron<BR>
Title: Vice President<BR STYLE="mso-special-character: line-break">
<BR STYLE="mso-special-character: line-break">
</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 2.5in"><FONT STYLE="letter-spacing: -0.15pt"><B>PNC BANK,
NATIONAL ASSOCIATION</B>,<BR>
individually in its capacity as a Lender and Documentation Agent<BR>
<BR>
<BR>
<BR>
By:<U> /s/ Douglas E. Blackman&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: Douglas E. Blackman<BR>
Title: Senior Vice President<BR STYLE="mso-special-character: line-break">
<BR STYLE="mso-special-character: line-break">
</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 2.5in"><FONT STYLE="letter-spacing: -0.15pt"><B>U. S. BANK
NATIONAL ASSOCIATION</B>,<BR>
individually in its capacity as a Lender<BR>
<BR>
<BR>
<BR>
By:<U> /s/ David Heller&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: David Heller<BR>
Title: Senior Vice President<BR STYLE="mso-special-character: line-break">
<BR STYLE="mso-special-character: line-break">
</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 2.5in"><FONT STYLE="letter-spacing: -0.15pt"><B>CAPITAL ONE,
N.A.</B>,<BR>
individually in its capacity as a Lender<BR>
<BR>
<BR>
<BR>
By:<U> /s/ Frederick H. Denecke&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: Frederick H. Denecke<BR>
Title: Vice President<BR STYLE="mso-special-character: line-break">
<BR STYLE="mso-special-character: line-break">
</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 2.5in"><FONT STYLE="letter-spacing: -0.15pt"><B>BRANCH BANKING
AND TRUST COMPANY</B>,<BR>
individually in its capacity as a Lender<BR>
<BR>
<BR>
<BR>
By:<U> /s/ Ahaz A. Armstrong&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: Ahaz A. Armstrong<BR>
Title: Assistant Vice President<BR STYLE="mso-special-character: line-break">
<BR STYLE="mso-special-character: line-break">
</FONT></P>

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<BR STYLE="mso-special-character: line-break">
</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 2.5in"><FONT STYLE="letter-spacing: -0.15pt"><B>TD BANK, N.A.</B>,<BR>
individually in its capacity as a Lender<BR>
<BR>
<BR>
<BR>
By:<U> /s/ Kerin D. Green&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Name: Kerin D. Green<BR>
Title: Senior Vice President<BR STYLE="mso-special-character: line-break">
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 2.5in; text-indent: -2.5in"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B><I>EXHIBIT&nbsp;A-1</I></B></P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 0 24pt; text-align: center"><B>FORM OF REVOLVER COMMITTED LOAN NOTICE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right">Date: ___________, _____</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">To:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank of America, N.A., as Administrative
Agent</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Reference is made
to that certain Amended and Restated Credit Agreement, dated as of September ___, 2012 (as amended, restated, extended, supplemented
or otherwise modified in writing from time to time, the &ldquo;<U>Agreement</U>;&rdquo; the terms defined therein being used herein
as therein defined), among Franklin Street Properties Corp. and the Wholly-Owned Subsidiaries thereof party thereto (collectively,
the &ldquo;<U>Borrower&rdquo;</U>), the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent,
L/C Issuer and Swing Line Lender.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The undersigned hereby
requests (select one):</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">[_] A Borrowing of Revolver
Committed Loans&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[_] A conversion or continuation of Revolving Loans</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">On ______________________________ (a Business Day).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">In the amount of $_______________.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">Comprised of _______________________________.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">&nbsp;</TD><TD STYLE="text-align: justify">[Type of Revolver Committed Loan requested]</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify">For Eurodollar Rate Committed Loans: with an Interest Period of __________ months.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Committed Borrowing,
if any, requested herein complies with clause (i) of the proviso to the first sentence of <U>Section&nbsp;2.01(a)</U> of the Agreement.</P>



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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 12pt"><B><U>BORROWER</U></B>:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2.85pt">&nbsp;</P></TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>FRANKLIN STREET PROPERTIES CORP.,<BR>
        </B>a Maryland corporation</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">By: ________________________________</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2.85pt">Name:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2.85pt">Title:</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit A-1 &ndash; Page 1<BR>
Form of Revolver Committed Loan Notice</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B><I>EXHIBIT&nbsp;A-2</I></B></P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 0 24pt; text-align: center"><B>FORM OF TERM COMMITTED LOAN NOTICE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right">Date: ___________, _____</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">To:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank of America, N.A., as Administrative
Agent</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Reference is made
to that certain Amended and Restated Credit Agreement, dated as of September ___, 2012 (as amended, restated, extended, supplemented
or otherwise modified in writing from time to time, the &ldquo;<U>Agreement</U>;&rdquo; the terms defined therein being used herein
as therein defined), among Franklin Street Properties Corp. and the Wholly-Owned Subsidiaries thereof party thereto (collectively,
the &ldquo;<U>Borrower&rdquo;</U>), the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent,
L/C Issuer and Swing Line Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The undersigned
hereby requests a conversion or continuation of Term Loans:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">On ______________________________ (a Business Day).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">In the amount of $_______________.</TD></TR>                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>3.</TD><TD STYLE="text-align: justify">Comprised
of _______________________________.</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Type of Committed Loan requested]</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify">For Eurodollar Rate Committed Loans: with an Interest Period of __________ months.</TD></TR></TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><U>BORROWER</U></B>:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2.85pt">&nbsp;</P></TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">
        <B>FRANKLIN STREET PROPERTIES CORP.,<BR>
        </B>a Maryland corporation</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">By: ________________________________</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2.85pt">Name:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2.85pt">Title:</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit A-2 &ndash; Page 1<BR>
Form of Term Committed Loan Notice</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: right"><B><I>EXHIBIT&nbsp;B</I></B></P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 0 24pt; text-align: center"><B>OPINION MATTERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;The following
opinions are to be covered by the legal opinion letter:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP
is a corporation validly existing and in good standing under the laws of the State of Maryland, and has all requisite corporate
power and authority to own its properties and assets and to conduct its business as it is, to our knowledge, currently conducted.
Each of the Massachusetts LPs is a limited partnership validly existing under the laws of the Commonwealth of Massachusetts, and
has all requisite partnership power and authority to own its properties and assets and to conduct its business as, to our knowledge,
it is currently conducted. Each of Investments and Property Management is a limited liability company validly existing under the
laws of the Commonwealth of Massachusetts, and has all requisite limited liability company power and authority to own its properties
and assets and to conduct its business as, to our knowledge, it is currently conducted. Each of the Delaware Corporate Subsidiaries
is a corporation validly existing and in good standing under the laws of the State of Delaware, and has all requisite corporate
power and authority to own its properties and assets and to conduct its business as it is, to our knowledge, currently conducted.
Each of the Delaware LLC Subsidiaries is a limited liability company validly existing under the laws of the State of Delaware,
and has all limited liability company power to own its properties and assets and to conduct its business, as it is, to our knowledge,
currently conducted. Each of the Texas Subsidiaries is a limited partnership validly existing under the laws of the State of Texas.
Forest Park LP is a limited partnership validly existing under the laws of the State of North Carolina. Each of the Borrowers set
forth on Schedule II attached hereto is qualified to transact business in the jurisdictions indicated on Schedule II attached hereto,
as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
of FSP, Protective TRS and each of the Delaware Corporate Subsidiaries has all requisite corporate power and authority to execute
and deliver and perform its obligations under each Credit Document to which it is a party and to consummate the transactions contemplated
thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
of Investments, Property Management and each of the Delaware LLC Subsidiaries has all requisite limited liability company power
and authority to execute and deliver and perform its obligations under each Credit Document to which it is a party and to consummate
the transactions contemplated thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
of the Massachusetts LPs has all partnership power and authority to execute and deliver and perform its obligations under each
Credit Document to which it is a party and to consummate the transactions contemplated thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
execution, delivery and performance by each of FSP, Protective TRS and each of the Delaware Corporate Subsidiaries of each Credit
Document to which it is a party have been duly authorized by all necessary corporate action on the part of such Borrower.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
execution, delivery and performance by each of the Delaware LLC Subsidiaries of each Credit Document to which it is a party have
been duly authorized by all necessary limited liability company action on the part of such Borrower.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
execution, delivery and performance by each of the Massachusetts LPs of each Credit Document to which it is a party have been duly
authorized by all necessary partnership action on the part of such Borrower.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
of the Credit Documents has been duly executed and delivered by each MD-MA-DE Borrower which is a party thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit B &ndash; Page 1<BR>
Opinion Matters</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
of the Credit Documents constitutes the valid and binding obligation of each Borrower, enforceable against each Borrower in accordance
with its respective terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
execution and delivery by the MD-MA-DE Borrowers of each of the Credit Documents to which such MD-MA-DE Borrowers are parties and
the consummation of the transactions contemplated thereby, do not (a) violate the provisions of the respective Charters, the Bylaws,
the Operating Agreements of such MD-MA-DE Borrowers or the Partnership Agreements; or (b) violate the provisions of the state laws
of the Commonwealth of Massachusetts, the state laws of the State of New York, the Delaware Limited Liability Company statute,
the DGCL Statute, the Maryland General Corporation Law or the federal laws of the United States of America, in each case, to the
extent applicable to the respective MD-MA-DE Borrowers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
execution and delivery by the TX-NC Subsidiaries of the Credit Documents and the consummation of the transactions contemplated
thereby, do not violate the provisions of the state laws of the State of New York or the federal laws of the United States of America
to the extent applicable to the respective TX-NC Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
execution and delivery by the Borrower of each of the Credit Documents and the consummation of the transactions contemplated thereby,
do not violate, result in a breach or termination of, or a default under (or an event which, with or without due notice or lapse
of time, or both, would constitute a default under) or accelerate the performance required by, or cause the creation of any lien,
security interest, charge or other encumbrance upon the properties or assets of the Borrower pursuant to any agreement which has
been filed by FSP with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) as an exhibit to FSP&rsquo;s Annual Report
on Form 10-K for the fiscal year ended December 31, 2009, or any other report or registration statement subsequently filed by the
Company with the SEC, in each case as listed on Schedule III attached hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP
is not required to register as an &ldquo;investment company,&rdquo; as such term is defined in the Investment Company Act of 1940,
as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
authorization, approval or consent of, and no filing or registration with, any governmental or regulatory authority or agency of
the United States of America, the State of Maryland, the State of New York or the Commonwealth of Massachusetts is required on
the part of any Borrower for the execution, delivery or performance by the Borrower of the Credit Documents to which such Borrower
is a party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">*Note, no opinion covering the matters
contained in 4,7 and 8 above is given with respect to FSP Forest Park IV NC Limited Partnership, a North Carolina limited partnership.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit B &ndash; Page 2<BR>
Opinion Matters</P>

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B><I>EXHIBIT&nbsp;C</I></B></P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 0 24pt; text-align: center"><B>FORM OF SWING LINE LOAN NOTICE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right">Date: ___________, _____</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%; padding-bottom: 3pt">To:</TD>
    <TD STYLE="width: 92%; padding-bottom: 3pt">Bank of America, N.A., as Swing Line Lender</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 3pt">Bank of America, N.A., as Administrative Agent</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Reference is made
to that certain Amended and Restated Credit Agreement, dated as of September ___, 2012 (as amended, restated, extended, supplemented
or otherwise modified in writing from time to time, the &ldquo;<U>Agreement</U>;&rdquo; the terms defined therein being used herein
as therein defined), among Franklin Street Properties Corp. and the Wholly-Owned Subsidiaries thereof from time to time party thereto
(collectively, the &ldquo;<U>Borrower&rdquo;</U>), the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative
Agent, L/C Issuer and Swing Line Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The undersigned
hereby requests a Swing Line Loan:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">On ______________________________ (a Business Day).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">In the amount of $_______________.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Swing Line Borrowing
requested herein complies with the requirements of (A) clause (i) of the first proviso to the first sentence of <U>Section 2.05(a)</U>
of the Agreement, and (B) the second proviso to the first sentence of <U>Section&nbsp;2.05(a)</U> of the Agreement.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 12pt"><B><U>BORROWER</U></B>:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2.85pt">&nbsp;</P></TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 12pt"><B>Franklin Street Properties Corp.,</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">a Maryland corporation</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">By: ________________________________</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2.85pt">Name:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2.85pt">Title:</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit C - Page 1<BR>
Form of Swing Line Loan Notice</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B><I>EXHIBIT&nbsp;D-1</I></B></P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 0 24pt; text-align: center"><B>FORM OF REVOLVER NOTE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right">___________ , 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">FOR VALUE RECEIVED,
the undersigned (individually and collectively the &ldquo;<U>Borrower&rdquo;</U>), jointly and severally hereby promise to pay
to _____________________ or registered assigns (the &ldquo;<U>Lender</U>&rdquo;), in accordance with the provisions of the Agreement
(as hereinafter defined), the principal amount of each Revolving Loan from time to time made by the Lender to the Borrower under
that certain Amended and Restated Credit Agreement, dated as of September ___, 2012 (as amended, restated, extended, supplemented
or otherwise modified in writing from time to time, the &ldquo;<U>Agreement</U>;&rdquo; the terms defined therein being used herein
as therein defined), among the Borrower, the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative
Agent, L/C Issuer and Swing Line Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Borrower jointly
and severally promise to pay interest on the unpaid principal amount of each Revolving Loan from the date of such Revolving Loan
until such principal amount is paid in full, at such interest rates and at such times as provided in the Agreement. All payments
of principal and interest shall be made to the Administrative Agent for the account of the Lender in Dollars in immediately available
funds at the Administrative Agent<FONT STYLE="color: black">&rsquo;</FONT>s Office. If any amount is not paid in full when due
hereunder, such unpaid amount shall bear interest, to be paid upon demand, from the due date thereof until the date of actual payment
(and before as well as after judgment) computed at the per annum rate set forth in the Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">This Revolver Note
is one of the Notes referred to in the Agreement, is entitled to the benefits thereof and may be prepaid in whole or in part subject
to the terms and conditions provided therein. Upon the occurrence and continuation of one or more of the Events of Default specified
in the Agreement, all amounts then remaining unpaid on this Revolver Note shall become, or may be declared to be, immediately due
and payable all as provided in the Agreement. Revolving Loans made by the Lender shall be evidenced by one or more loan accounts
or records maintained by the Lender in the ordinary course of business. The Lender may also attach schedules to this Revolver Note
and endorse thereon the date, amount and maturity of its Revolving Loans and payments with respect thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Borrower, for
itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest, demand, dishonor
and non-payment of this Revolver Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">THIS REVOLVER NOTE
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO NEW YORK'S PRINCIPLES
OF CONFLICTS OF LAWS).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">[Remainder of Page Intentionally Blank]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit D-1 &ndash; Page 1<BR>
Form of Revolver Note</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>IN WITNESS WHEREOF,
</I>the parties hereto have caused this Revolver Note to be duly executed as of the date first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">
<TR STYLE="vertical-align: top">
<TD><B><U>BORROWER</U>:</B></TD><TD COLSPAN="2"><B>FRANKLIN STREET PROPERTIES CORP.,</B></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD COLSPAN="2">a Maryland corporation</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.5in">By:</TD><TD>____________________________<BR>
Name:<BR>
Title:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 1in 0 3in"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 1in 0 3in"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP HOLDINGS LLC,</B><BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.5in"></TD><TD>Name:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.5in"></TD><TD>Title:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP INVESTMENTS LLC,</B><BR>
a Massachusetts limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.5in"></TD><TD>Name:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.5in"></TD><TD>Title:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP PROPERTY MANAGEMENT LLC,</B><BR>
a Massachusetts limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP PROTECTIVE TRS CORP.,</B><BR>
a Massachusetts corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit D-1 &ndash; Page 2<BR>
Form of Revolver Note</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP HILLVIEW CENTER LIMITED PARTNERSHIP</B>,<BR>
a Massachusetts limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP Holdings LLC, its General Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: ____________________________</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Name:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Title:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP MONTAGUE BUSINESS CENTER CORP</B><FONT STYLE="text-transform: uppercase">.</FONT>,<BR>
a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP GREENWOOD PLAZA CORP.</B>,<BR>
a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP 380 INTERLOCKEN CORP.</B>,<BR>
a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP 390 INTERLOCKEN
LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP BLUE LAGOON
DRIVE LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit D-1 &ndash; Page 3<BR>
Form of Revolver Note</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP ONE LEGACY
CIRCLE LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP ONE OVERTON
PARK LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP ONE RAVINIA
DRIVE LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP NORTHWEST
POINT LLC</B>,</FONT><BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP RIVER CROSSING
LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit D-1 &ndash; Page 4<BR>
Form of Revolver Note</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP EAST BALTIMORE
STREET LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP SOUTHFIELD CENTRE LIMITED PARTNERSHIP</B>,<BR>
 a Massachusetts
limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP Holdings LLC, its General Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: ____________________________</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Name:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Title:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.75in; text-indent: -0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.75in; text-indent: -0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP EDeN BLUFF
CORPORATE CENTER I LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP 121 South
eighth street LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP 1410 east
renner road LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP LAKESIDE
CROSSING I LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit D-1 &ndash; Page 5<BR>
Form of Revolver Note</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP LEGACY TENNYSON
CENTER LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">F<B>SP FOREST PARK IV NC LIMITED PARTNERSHIP</B>,<BR>
a North Carolina limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP Forest Park IV LLC, its General Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: ____________________________</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Name:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Title:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP PARK SENECA LIMITED PARTNERSHIP</B>,<BR>
a Massachusetts limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP Holdings LLC, its General Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: ____________________________</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Name:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Title:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP ADDISON CIRCLE LIMITED PARTNERSHIP</B>,<BR>
a Texas limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP Addison Circle LLC, its General Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: ____________________________</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Name:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Title:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP COLLINS CROSSING LIMITED PARTNERSHIP</B>,<BR>
a Texas limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP Collins Crossing LLC, its General Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: ____________________________</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Name:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Title:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit D-1 &ndash; Page 6<BR>
Form of Revolver Note</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP ELDRIDGE GREEN LIMITED PARTNERSHIP</B>,<BR>
a Texas limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP Eldridge Green LLC, its General Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: ____________________________</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Name:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Title:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP LIBERTY PLAZA LIMITED PARTNERSHIP</B>,<BR>
a Texas limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP Holdings LLC, its General Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: ____________________________</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Name:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Title:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP PARK TEN LIMITED PARTNERSHIP</B>,<BR>
a Texas limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP Park Ten LLC, its General Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: ____________________________</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Name:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Title:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP PARK TEN PHASE II LIMITED PARTNERSHIP</B>,<BR>
a Texas limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP Park Ten Development LLC, its General Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: ____________________________</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Name:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Title:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP WILLOW BEND OFFICE CENTER LIMITED PARTNERSHIP</B>,
<BR>
a Texas limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.5in">By:</TD><TD>FSP WILLOW BEND OFFICE CENTER LLC, its General Partner</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: ____________________________</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Name:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Title:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit D-1 &ndash; Page 7<BR>
Form of Revolver Note</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.75in; text-indent: -0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP dulles virginia
LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP INNSBROOK CORP.</B>,<BR>
 a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP 4807 STONECROFT BOULEVARD LLC</B>, <BR>
a Delaware limited
liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP 4820 EMPEROR BOULEVARD LLC</B>,<BR>
 a Delaware limited
liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP 909 DAVIS STREET LLC</B>, <BR>
a Delaware limited liability
company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP ADDISON CIRCLE CORP.</B>, <BR>
a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit D-1 &ndash; Page 8<BR>
Form of Revolver Note</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>&nbsp;</B></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP ADDISON CIRCLE LLC</B>, <BR>
a Delaware limited liability
company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP BLUE LAGOON DRIVE CORP.</B>,<BR>
 a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP COLLINS CROSSING CORP.</B>,<BR>
 a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP COLLINS CROSSING LLC</B>,<BR>
 a Delaware limited liability
company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP ELDRIDGE GREEN CORP.</B>, <BR>
a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP ELDRIDGE GREEN LLC</B>, <BR>
a Delaware limited liability
company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit D-1 &ndash; Page 9<BR>
Form of Revolver Note</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP EMPEROR BOULEVARD LIMITED PARTNERSHIP</B>, <BR>
a Delaware
limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.5in">By:</TD><TD>FSP 4820 Emperor Boulevard LLC, its general partner</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP FOREST PARK IV LLC</B>, <BR>
a Delaware limited liability
company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP PARK TEN DEVELOPMENT CORP.</B>, <BR>
a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP PARK TEN DEVELOPMENT LLC</B>,<BR>
 a Delaware limited
liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP PARK TEN LLC</B>, <BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP WILLOW BEND OFFICE CENTER CORP.</B>,<BR>
 a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit D-1 &ndash; Page 10<BR>
Form of Revolver Note</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP WILLOW BEND OFFICE CENTER LLC</B>,<BR>
 a Delaware limited
liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit D-1 &ndash; Page 11<BR>
Form of Revolver Note</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 3in"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 0 24pt; text-align: center"><B>REVOLVING LOANS AND PAYMENTS WITH RESPECT
THERETO</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 14%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman Bold; font-weight: bold; text-align: center">Date</TD>
    <TD STYLE="width: 14%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman Bold; font-weight: bold; text-align: center">Type of <BR>
Revolving Loan Made</TD>
    <TD STYLE="width: 14%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman Bold; font-weight: bold; text-align: center">Amount of<BR>
 Revolving Loan Made</TD>
    <TD STYLE="width: 14%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman Bold; font-weight: bold; text-align: center">End of<BR>
 Interest <BR>
Period</TD>
    <TD STYLE="width: 14%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman Bold; font-weight: bold; text-align: center">Amount of <BR>
Principal or<BR>
 Interest Paid <BR>
This Date</TD>
    <TD STYLE="width: 17%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman Bold; font-weight: bold; text-align: center">Outstanding<BR>
 Principal <BR>
Balance This<BR>
 Date</TD>
    <TD STYLE="width: 13%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman Bold; font-weight: bold; text-align: center">Notation <BR>
Made By</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 12pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit D-1 &ndash; Page 12<BR>
Form of Revolver Note</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B><I>EXHIBIT&nbsp;D-2</I></B></P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 0 24pt; text-align: center"><B>FORM OF TERM NOTE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right">___________ , 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">FOR VALUE RECEIVED,
the undersigned (individually and collectively the &ldquo;<U>Borrower&rdquo;</U>), jointly and severally hereby promise to pay
to _____________________ or registered assigns (the &ldquo;<U>Lender</U>&rdquo;), in accordance with the provisions of the Agreement
(as hereinafter defined), the principal amount of the Term Loan made by the Lender to the Borrower under that certain Amended and
Restated Credit Agreement, dated as of September ___, 2012 (as amended, restated, extended, supplemented or otherwise modified
in writing from time to time, the &ldquo;<U>Agreement</U>;&rdquo; the terms defined therein being used herein as therein defined),
among the Borrower, the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent, L/C Issuer
and Swing Line Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Borrower jointly
and severally promise to pay interest on the unpaid principal amount of each Term Loan from the date of such Term Loan until such
principal amount is paid in full, at such interest rates and at such times as provided in the Agreement. All payments of principal
and interest shall be made to the Administrative Agent for the account of the Lender in Dollars in immediately available funds
at the Administrative Agent<FONT STYLE="color: black">&rsquo;</FONT>s Office. If any amount is not paid in full when due hereunder,
such unpaid amount shall bear interest, to be paid upon demand, from the due date thereof until the date of actual payment (and
before as well as after judgment) computed at the per annum rate set forth in the Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">This Term Note is
one of the Notes referred to in the Agreement, is entitled to the benefits thereof and may be prepaid in whole or in part subject
to the terms and conditions provided therein. The Borrower may not reborrow any portion of the Term Loan once repaid. Upon the
occurrence and continuation of one or more of the Events of Default specified in the Agreement, all amounts then remaining unpaid
on this Term Note shall become, or may be declared to be, immediately due and payable all as provided in the Agreement. The Term
Loan made by the Lender shall be evidenced by one or more loan accounts or records maintained by the Lender in the ordinary course
of business. The Lender may also attach schedules to this Term Note and endorse thereon the date, amount and maturity of its Term
Loan and payments with respect thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Borrower, for
itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest, demand, dishonor
and non-payment of this Term Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">THIS TERM NOTE SHALL
BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO NEW YORK'S PRINCIPLES
OF CONFLICTS OF LAWS).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0.5in">[Remainder of Page
Intentionally Blank]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit D-2 &ndash; Page 1<BR>
Form of Term Note</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>IN WITNESS WHEREOF,
</I>the parties hereto have caused this Term Note to be duly executed as of the date first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 3in; text-indent: -3in"><FONT STYLE="font-family: Times New Roman Bold,serif; letter-spacing: -0.15pt"><B><U></U></B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD><B><U>BORROWER:</U></B></TD><TD COLSPAN="2"><B>FRANKLIN STREET PROPERTIES CORP.,</B></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD COLSPAN="2">a Maryland corporation</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.5in">By:</TD><TD>____________________________<BR>
Name:<BR>
Title:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 1in 0 3in"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 1in 0 3in"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP HOLDINGS LLC,</B><BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP INVESTMENTS LLC,</B><BR>
a Massachusetts limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP PROPERTY MANAGEMENT LLC,</B><BR>
a Massachusetts limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP PROTECTIVE TRS CORP.,</B><BR>
a Massachusetts corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit D-2 &ndash; Page 2<BR>
Form of Term Note</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP HILLVIEW CENTER LIMITED PARTNERSHIP</B>,<BR>
a Massachusetts limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP Holdings LLC, its General Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: ____________________________</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Name:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Title:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP MONTAGUE BUSINESS CENTER CORP</B><FONT STYLE="text-transform: uppercase">.</FONT>,<BR>
a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP GREENWOOD PLAZA CORP.</B>,<BR>
a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP 380 INTERLOCKEN CORP.</B>,<BR>
a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP 390 INTERLOCKEN
LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP BLUE LAGOON
DRIVE LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit D-2 &ndash; Page 3<BR>
Form of Term Note</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP ONE LEGACY
CIRCLE LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP ONE OVERTON
PARK LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP ONE RAVINIA
DRIVE LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP NORTHWEST
POINT LLC</B>,</FONT><BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP RIVER CROSSING
LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit D-2 &ndash; Page 4<BR>
Form of Term Note</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP EAST BALTIMORE
STREET LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP SOUTHFIELD CENTRE LIMITED PARTNERSHIP</B>,<BR>
 a Massachusetts
limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP Holdings LLC, its General Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: ____________________________</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Name:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Title:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.75in; text-indent: -0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.75in; text-indent: -0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP EDeN BLUFF
CORPORATE CENTER I LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP 121 South
eighth street LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP 1410 east
renner road LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP LAKESIDE
CROSSING I LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit D-2 &ndash; Page 5<BR>
Form of Term Note</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP LEGACY TENNYSON
CENTER LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">F<B>SP FOREST PARK IV NC LIMITED PARTNERSHIP</B>,<BR>
a North Carolina limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP Forest Park IV LLC, its General Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: ____________________________</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Name:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Title:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP PARK SENECA LIMITED PARTNERSHIP</B>,<BR>
a Massachusetts limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP Holdings LLC, its General Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: ____________________________</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Name:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Title:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP ADDISON CIRCLE LIMITED PARTNERSHIP</B>,<BR>
a Texas limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP Addison Circle LLC, its General Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: ____________________________</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Name:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Title:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP COLLINS CROSSING LIMITED PARTNERSHIP</B>,<BR>
a Texas limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP Collins Crossing LLC, its General Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: ____________________________</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Name:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Title:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit D-2 &ndash; Page 6<BR>
Form of Term Note</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP ELDRIDGE GREEN LIMITED PARTNERSHIP</B>,<BR>
a Texas limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP Eldridge Green LLC, its General Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: ____________________________</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Name:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Title:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP LIBERTY PLAZA LIMITED PARTNERSHIP</B>,<BR>
a Texas limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP Holdings LLC, its General Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: ____________________________</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Name:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Title:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP PARK TEN LIMITED PARTNERSHIP</B>,<BR>
a Texas limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP Park Ten LLC, its General Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: ____________________________</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Name:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Title:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP PARK TEN PHASE II LIMITED PARTNERSHIP</B>,<BR>
a Texas limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSP Park Ten Development LLC, its General Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: ____________________________</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Name:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Title:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP WILLOW BEND OFFICE CENTER LIMITED PARTNERSHIP</B>,
<BR>
a Texas limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.5in">By:</TD><TD>FSP WILLOW BEND OFFICE CENTER LLC, its General Partner</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: ____________________________</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Name:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.75in"></TD><TD>Title:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit D-2 &ndash; Page 7<BR>
Form of Term Note</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.75in; text-indent: -0.75in"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>FSP dulles virginia
LLC</B></FONT>,<BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP INNSBROOK CORP.</B>,<BR>
 a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP 4807 STONECROFT BOULEVARD LLC</B>, <BR>
a Delaware limited
liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP 4820 EMPEROR BOULEVARD LLC</B>, <BR>
a Delaware limited
liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP 909 DAVIS STREET LLC</B>,<BR>
 a Delaware limited liability
company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP ADDISON CIRCLE CORP.</B>, <BR>
a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit D-2 &ndash; Page 8<BR>
Form of Term Note</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP ADDISON CIRCLE LLC</B>, <BR>
a Delaware limited liability
company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP BLUE LAGOON DRIVE CORP.</B>, <BR>
a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP COLLINS CROSSING CORP.</B>, <BR>
a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP COLLINS CROSSING LLC</B>, <BR>
a Delaware limited liability
company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP ELDRIDGE GREEN CORP.</B>, <BR>
a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP ELDRIDGE GREEN LLC</B>, <BR>
a Delaware limited liability
company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit D-2 &ndash; Page 9<BR>
Form of Term Note</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP EMPEROR BOULEVARD LIMITED PARTNERSHIP</B>, a <BR>
Delaware
limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3in"></TD><TD STYLE="width: 0.5in">By:</TD><TD>FSP 4820 Emperor Boulevard LLC, its general partner</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP FOREST PARK IV LLC</B>,<BR>
 a Delaware limited liability
company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP PARK TEN DEVELOPMENT CORP.</B>, <BR>
a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP PARK TEN DEVELOPMENT LLC</B>, <BR>
a Delaware limited
liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP PARK TEN LLC</B>, <BR>
a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP WILLOW BEND OFFICE CENTER CORP.</B>, <BR>
a Delaware corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit D-2 &ndash; Page 10<BR>
Form of Term Note</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>FSP WILLOW BEND OFFICE CENTER LLC</B>, <BR>
a Delaware limited
liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit D-2 &ndash; Page 11<BR>
Form of Term Note</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 0 24pt; text-align: center"><B>TERM LOAN AND PAYMENTS WITH RESPECT THERETO</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 14%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman Bold; font-weight: bold; text-align: center">Date</TD>
    <TD STYLE="width: 14%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman Bold; font-weight: bold; text-align: center">Type of Term<BR> &nbsp;Loan Made</TD>
    <TD STYLE="width: 14%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman Bold; font-weight: bold; text-align: center">Amount of <BR> Term Loan <BR> Made</TD>
    <TD STYLE="width: 14%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman Bold; font-weight: bold; text-align: center">End of <BR> Interest <BR> Period</TD>
    <TD STYLE="width: 14%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman Bold; font-weight: bold; text-align: center">Amount of <BR> Principal or <BR> Interest Paid <BR> This Date</TD>
    <TD STYLE="width: 17%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman Bold; font-weight: bold; text-align: center">Outstanding<BR> &nbsp;Principal <BR> Balance This <BR> Date</TD>
    <TD STYLE="width: 13%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman Bold; font-weight: bold; text-align: center">Notation <BR> Made By</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">__________</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 12pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit D-2 &ndash; Page 12<BR>
Form of Term Note</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B><I>EXHIBIT&nbsp;E-1</I></B></P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 0 24pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 0 24pt; text-align: center"><B>FORM OF COMPLIANCE CERTIFICATE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right">Financial Statement Date: _______________,
_____</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">To:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank
of America, N.A., as Administrative Agent</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Reference is made
to that certain Amended and Restated Credit Agreement, dated as of September ___, 2012 (as amended, restated, extended, supplemented
or otherwise modified in writing from time to time, the &ldquo;<U>Agreement</U>;&rdquo; the terms defined therein being used herein
as therein defined), among Franklin Street Properties Corp. (&ldquo;FSP&rdquo;) and certain Wholly-Owned Subsidiaries of FSP from
time to time party thereto (collectively, the &ldquo;<U>Borrower</U>&rdquo;), the Lenders from time to time party thereto, and
Bank of America, N.A., as Administrative Agent, L/C Issuer and Swing Line Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The undersigned
Responsible Officer hereby certifies as of the date hereof that he/she is the _______________________________________ of FSP, and
that, as such, he/she is authorized to execute and deliver this Certificate to the Administrative Agent on the behalf of the Borrower,
and that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><I>[Use following paragraph&nbsp;1 for
fiscal <B>year-end</B> financial statements]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Borrower has delivered the year-end audited financial statements required by <U>Section&nbsp;6.01(a)</U> of the Agreement for the
fiscal year of the Borrower ended as of the above date, together with the report and opinion of an independent certified public
accountant required by such section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><I>[Use following paragraph&nbsp;1 for
fiscal <B>quarter-end</B> financial statements]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Borrower has delivered the unaudited financial statements required by <U>Section&nbsp;6.01(b)</U> of the Agreement for the fiscal
quarter of the Borrower ended as of the above date. Such financial statements fairly present, in all material respects, the financial
condition, results of operations and cash flows of the Consolidated Parties in accordance with GAAP as at such date and for such
period, subject only to normal year-end audit adjustments and the absence of footnotes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned has reviewed and is familiar with the terms of the Agreement and has made, or has caused to be made under his/her supervision,
a detailed review of the transactions and condition (financial or otherwise) of the Borrower during the accounting period covered
by such financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
review of the activities of the Borrower during such fiscal period has been made under the supervision of the undersigned with
a view to determining whether during such fiscal period the Borrower performed and observed all its Obligations under the Loan
Documents, and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B><I>[select one:]</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>[to the knowledge
of the undersigned, during such fiscal period no Default or Event of Default has occurred and is continuing.]</B></P>

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

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit E-1<BR>
Form of Compliance Certificate</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>[to the knowledge
of the undersigned, during such fiscal period the following Defaults and Events of Default exist:<A HREF="#note_ftn1" NAME="note_ftnref1" STYLE="font-size: 65%; vertical-align: 35%">1</A>]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
representations and warranties of the Borrower contained in <U>Article&nbsp;V</U> of the Agreement are true and correct in all
material respects on and as of the date hereof, except (a) to the extent that such representations and warranties specifically
refer to an earlier date, in which case they are true and correct as of such earlier date, and (b) except that (i) the representations
and warranties contained in subsections&nbsp;(a), (b) and (c) of <U>Section&nbsp;5.05</U> refer to the most recent statements furnished
pursuant to clauses&nbsp;(a) and (b), respectively, of <U>Section&nbsp;6.01</U>; and (ii) the representations and warranties contained
in <U>Section 5.13(a)</U> refer to the most recent update to <U>Schedule 5.13(a)</U> furnished pursuant to <U>Section 6.02(a)(ii)</U>,
and are true and correct in all material respects as of the effective date of such update, and (iii) the representations and warranties
contained in the first and second sentences of <U>Section 5.21</U> refer to the most recent update to <U>Schedule 5.21</U> furnished
pursuant to <U>Section 6.02(a)(i)</U>,<B> </B>and are true and correct in all material respects as of the effective date of such
update<FONT STYLE="font-family: Times New Roman Bold,serif">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
financial covenant analyses and information set forth on <U>Schedule&nbsp;1</U> attached hereto are true and accurate on and as
of the Financial Statement Date covered by this Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
updates to <U>Schedules 5.21 and 5.13(a)</U> attached hereto and the list of all Projects Under Development attached hereto are
true and accurate on and as of the Financial Statement Date covered by this Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>IN WITNESS WHEREOF,</I>
the undersigned has executed this Certificate as of _______________, _____.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 12pt"><B><U>BORROWER</U></B>:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2.85pt">&nbsp;</P></TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 12pt"><B>Franklin Street Properties Corp.,</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">a Maryland corporation</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">By: ________________________________</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2.85pt">Name:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2.85pt">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2.85pt">&nbsp;</P></TD></TR>
</TABLE>

<P style="margin:0">_________________</P>

<P STYLE="margin: 0"><A HREF="#note_ftnref1" NAME="note_ftn1" STYLE="font-size: 65%; vertical-align: 35%">1</A>
Specify nature and extent thereof and what action Borrower proposes to take with respect thereto.</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Exhibit-E-1<BR>
Form of Compliance Certificate</P>

<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><U>SCHEDULE 1</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1in 6pt; text-align: center"><B>Franklin Street Properties Corp.<BR>
Financial Covenants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1in 6pt; text-align: center"><B>__________ [Date]</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="6" STYLE="border-top: windowtext 1pt solid; padding-bottom: 6pt; font-size: 10pt">(in thousands, except percentages and ratios)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="6">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><B>UAP Financial Covenants:</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">1. Minimum Unsecured Debt Service Coverage</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt">&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 10pt; text-align: center">Quarterly <BR>
<U>Unencumbered NOI</U></TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; font-size: 10pt; text-align: center">Mortgageability<BR>
<U>Amount</U></TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; font-size: 10pt; text-align: center">NOI to <BR>
Mortgageability<U> <BR>
Amount</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt">Equal to 1.6:1 or more</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt">&nbsp;</P></TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">2. Maximum Unencumbered Leverage Ratio</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt">&nbsp;</P></TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 10pt; text-align: center">Unsecured <BR>
<U>Indebtedness</U></TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; font-size: 10pt; text-align: center">Unencumbered <BR>
<U>Asset Value</U></TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; font-size: 10pt; text-align: center">Leverage<BR>
<U>Ratio</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; font-size: 10pt">Not to exceed 60% and no one Property to exceed 20%</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><B>Borrower Financial Covenants</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in">Maximum Leverage Ratio</P></TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 10pt; text-decoration: underline; text-align: center">Total Indebtedness</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; font-size: 10pt; text-decoration: underline; text-align: center">Total Asset Value</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; font-size: 10pt; text-align: center">Indebtedness to<BR>
<U> Total Asset Value</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; font-size: 10pt">Not to exceed 60%</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><U>Total Asset Value</U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt">Unencumbered Asset Value (see Schedule A)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt">Encumbered Asset Value (see Schedule B)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt">Unrestricted Cash</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt">Cash Equivalents</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt">Book value of unimproved land holdings</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt">Book value of construction in progress</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt">Carrying value of performing mortgage loans</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets Held for Syndication</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage Loan Receivable</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt">Investment in Sponsored REITs</P></TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 0pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 0pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; font-size: 10pt">Total Asset Value</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 0pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 0pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 43%">&nbsp;</TD>
    <TD STYLE="width: 20%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 17%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 42%">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt"><U>Total Indebtedness</U></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt">Revolver Loan Balance</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt">Term Loan Balance</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt">Derivative Termination Value</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt">Secured Debt</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt">Other Indebtedness</P></TD>
    <TD STYLE="width: 23%; padding-bottom: 6pt; font-size: 11pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 18%; padding-bottom: 6pt; font-size: 11pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 17%; padding-bottom: 6pt; font-size: 11pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">Consolidated Parties&rsquo; Equity Percentage of Indebtedness of Unconsolidated Affiliates</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">Total Indebtedness</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in">3. Maximum Secured Leverage Ratio</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Secured Indebtedness of
        the Consolidated Parties</P></TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Asset Value</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of Secured Indebtedness over Total Asset Value</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maximum % of
secured Indebtedness not to exceed 30% of Total<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset Value&nbsp;</P></TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">4. Maximum Secured Recourse Indebtedness</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Secured Recourse Indebtedness
        of FSP</P></TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maximum Secured Recourse Indebtedness of FSP</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt; text-align: right">$50,000.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-indent: 0in; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-indent: 0in; font-size: 11pt">5.&nbsp; Minimum Fixed Charge Cover Ratio</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt; text-decoration: underline; text-align: center">Adjusted EBITDA</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt; text-decoration: underline; text-align: center">Fixed Charges</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt; text-align: center">Adjusted EBITDA<BR>
<U>to Fixed Charge</U> <BR>
<U>Ratio</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">Minimum 1.5:1</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">$</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-indent: 0in; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-indent: 0in; font-size: 11pt">6. Minimum Tangible Net Worth<A HREF="#note_ftn2" NAME="note_ftnref2" STYLE="font-size: 65%; vertical-align: 35%">2</A></TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">Total Assets, less:</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">$</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; font-size: 11pt">Book Value of Intangible Assets</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; font-size: 11pt">Write-up of book value subsequent to Balance Sheet date</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">Subscriptions Receivable</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">Total Liabilities</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: left"><B>&nbsp;_____________________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><A HREF="#note_ftnref2" NAME="note_ftn2" STYLE="font-size: 65%; vertical-align: 35%">2</A>
<FONT STYLE="font-size: 9pt">Total Assets and Total Liabilities shall also exclude an asset or liability created by the Swap Termination
Value.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 42%; padding-bottom: 6pt; font-size: 11pt">Tangible Net Worth</TD>
    <TD STYLE="width: 23%; padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="width: 18%; padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="width: 17%; padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">Required Net Worth</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">Required as of [6/30/2012]</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt; text-align: right">$653,000.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-bottom: 6pt; font-size: 11pt">Equity Offering after [6/30/2012] (add 75% of net proceeds from equity offerings)</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-bottom: 6pt; font-size: 11pt">ATM Equity Offering after [6/30/2012] (add 75% of net proceeds from equity offerings)</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">Required Net Worth</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: left">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1in 6pt; text-align: center"><B>Franklin Street Properties Corp.<BR>
Financial Covenants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1in 6pt; text-align: center"><B>__________ [Date]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1in 6pt; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 42%; border-bottom: windowtext 2.25pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><B>Schedule A </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt">&nbsp;</P></TD>
    <TD STYLE="width: 23%; border-bottom: windowtext 2.25pt solid; padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="width: 18%; border-bottom: windowtext 2.25pt solid; padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="width: 17%; border-bottom: windowtext 2.25pt solid; padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><B>Unencumbered Asset Value</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><B>&nbsp;</B></P></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-bottom: 6pt; text-align: center">Date</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-bottom: 6pt; text-align: center">Cap Rate</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-bottom: 6pt; text-align: center">Unencumbered <BR>
Asset Value</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Quarterly NOI</TD>
    <TD STYLE="padding-bottom: 6pt">$</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Annual NOI</TD>
    <TD STYLE="padding-bottom: 6pt; text-align: center">x4</TD>
    <TD STYLE="padding-bottom: 6pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; text-decoration: underline">$&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;</TD>
    <TD STYLE="padding-bottom: 6pt; text-align: center">8.0%</TD>
    <TD STYLE="padding-bottom: 6pt; text-decoration: underline">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Acquisition costs of new properties</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; text-decoration: underline">$&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;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Unencumbered Asset Value</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; text-decoration: underline; text-underline-style: double">$&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;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 42%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 "><B>Schedule B &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 ">&nbsp;</P></TD>
    <TD STYLE="width: 23%; padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="width: 18%; padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="width: 17%; padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: windowtext 2.25pt solid; padding-bottom: 6pt; font-weight: bold">Encumbered Asset Value</TD>
    <TD STYLE="border-top: windowtext 2.25pt solid; padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="border-top: windowtext 2.25pt solid; padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="border-top: windowtext 2.25pt solid; padding-bottom: 6pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-bottom: 6pt; text-align: center">Date</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-bottom: 6pt; text-align: center">Cap Rate</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-bottom: 6pt; text-align: center">Encumbered <BR>
Asset Value</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Quarterly NOI</TD>
    <TD STYLE="padding-bottom: 6pt">$</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Annual NOI</TD>
    <TD STYLE="padding-bottom: 6pt; text-align: center">x4</TD>
    <TD STYLE="padding-bottom: 6pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; text-decoration: underline">$&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;</TD>
    <TD STYLE="padding-bottom: 6pt; text-align: center">8.0%</TD>
    <TD STYLE="padding-bottom: 6pt; text-decoration: underline">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">[Acquisition costs of new properties]</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; text-decoration: underline">$&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;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Encumbered Asset Value</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; text-decoration: underline; text-underline-style: double">$&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;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1in 6pt; text-align: center"><B>&nbsp;</B></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1in 6pt; text-align: center"><B>Franklin Street Properties Corp.<BR>
Consolidated Balance Sheets</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1in 6pt; text-align: center"><B>(Audited/Unaudited)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1in 6pt; text-align: center"><B>__________ [Date]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1in 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1in 6pt">[To be inserted]</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1in 6pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>Franklin Street Properties Corp.<BR>
Consolidated Statement of Income</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1in 6pt; text-align: center"><B>(Audited/Unaudited)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1in 6pt; text-align: center"><B>__________ [Date]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1in 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1in 6pt">[To be inserted]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1in 6pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%; padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="width: 25%; padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="width: 20%; padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">EBITDA</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Net Income</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Non-recurring/Extraordinary /GOS/Acq Cost</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Interest including deferred financing costs</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Taxes</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Depreciation &amp; Amortization</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Amortization of leases (in revenue)</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Pro Rata Share Unconsolidated Affiliates</TD>
    <TD STYLE="padding-bottom: 6pt">_______________</TD>
    <TD STYLE="padding-bottom: 6pt">_______________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">EBITDA</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Capital Item allowance ($.30 sf/year)</TD>
    <TD STYLE="padding-bottom: 6pt">_______________</TD>
    <TD STYLE="padding-bottom: 6pt">_______________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Adjusted EBITDA</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1in 6pt; text-align: center">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1in 6pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1in 6pt; text-align: center"><B>Franklin Street Properties Corp.<BR>
Financial Covenants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1in 6pt; text-align: center"><B>Quarterly Debt Service<BR>
_________________ [Date]</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%; padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="width: 13%; padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="width: 21%; padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="width: 21%; padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"><B><U>Mortgageability Amount:</U></B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"><B>&nbsp;</B></P></TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; font-weight: bold; "><BR>&nbsp;</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; font-weight: bold; text-align: center"><B>Unsecured<BR>
<U>Indebtedness</U></B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Principal (average daily balance during quarter)</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">$</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">1 Month Eurodollar Rate + Eurodollar Rate Margin &amp; Facility Fee:</TD>
    <TD STYLE="padding-bottom: 6pt; text-align: center"><BR>%</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">10 year US Treasury + 300 bp (estimate)</TD>
    <TD STYLE="padding-bottom: 6pt; text-align: center">%</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rate at end of quarter</TD>
    <TD STYLE="padding-bottom: 6pt; text-align: center">%</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Fixed rate as defined</TD>
    <TD STYLE="padding-bottom: 6pt; text-align: center">7.5%</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Rate used for calculation (highest of above)<BR STYLE="mso-special-character: line-break"> <BR STYLE="mso-special-character: line-break"></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Amortization period (months)<BR STYLE="mso-special-character: line-break"> <BR STYLE="mso-special-character: line-break"></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; text-align: center">360</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Monthly Payment<BR STYLE="mso-special-character: line-break"> <BR STYLE="mso-special-character: line-break"></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Months in test period<BR STYLE="mso-special-character: line-break"> <BR STYLE="mso-special-character: line-break"></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; text-decoration: underline; text-align: center">3</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; font-weight: bold; text-decoration: underline"><BR>Debt service:</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><FONT STYLE="text-underline-style: double"><B>&nbsp;</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><FONT STYLE="text-underline-style: double"><B>&nbsp;</B></FONT></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><FONT STYLE="text-underline-style: double"><B>&nbsp;</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><FONT STYLE="text-underline-style: double"><B><U>________________</U></B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; font-weight: bold">1 Month Eurodollar Rate + Eurodollar Rate Margin &amp; Facility Fee</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">1 Month Eurodollar Rate</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Facility Fee (a)</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Eurodollar Margin (a)</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Total</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" >
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(a) Based on covenant leverage ratio (Maximum Leverage Ratio)
        grid</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt">&nbsp;</P></TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1in 6pt; text-align: center"><B>Franklin Street Properties Corp.<BR>
Property NOI<BR>
_________________ [Date]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 21.9pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Actual</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Actual</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Cost</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Q_ NOI</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Q_ NOI</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline">Name</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline">City</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline">State</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center">S.F.</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center">Most <BR>
Recent FQ</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center">Most <BR>
Recent FQ</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center">Same Quarter<BR>
 Prior Year</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold">Unencumbered NOI</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">Property NOI for the quarter</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="5" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">Less: Capital Item allowance ($.30 sf/year, including acquisitions)</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(a)</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">Adjustment for management fees to 3%</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 4%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 30%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 9%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 9%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 8%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 12%; border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 12%; border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp;</TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold">Property NOI for the quarter</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="3" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">Less: New acquisitions (if less than 4 quarters)</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="5" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">Less: Capital Item allowance ($.30 sf/year, including acquisitions)</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(a)</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">Adjustment for management fees to 3%</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="3" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">NOI for Unencumbered Asset Value calculation</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">Cap rate per loan agreement</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">8.0%</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">8.0%</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">Value of the Properties:</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">Calculated above</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">Acquisitions at cost</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">Unencumbered Asset Value</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-top: windowtext 1pt solid; border-bottom: windowtext 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-top: windowtext 1pt solid; border-bottom: windowtext 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold">Encumbered NOI</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(a)</TD>
    <TD NOWRAP COLSPAN="9" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">NOI is net of actual management fees paid, adjustment is to (increase)/decrease fees to 3% level</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>Franklin Street Properties Corp.<BR>
Management Fee Calculation<A HREF="#note_ftn3" NAME="note_ftnref3" STYLE="font-size: 65%; vertical-align: 35%">3</A><BR>
_________________ [Date]</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 30%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 18%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">9 Months</TD>
    <TD NOWRAP STYLE="width: 18%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">6 Months</TD>
    <TD NOWRAP STYLE="width: 19%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">3 Months</TD></TR>
<TR STYLE="vertical-align: bottom">
    <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>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Calculation:</TD>
    <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>
    <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>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Total rental revenue for 10-Q</TD>
    <TD NOWRAP STYLE="border-bottom: windowtext 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-bottom: windowtext 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-bottom: windowtext 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <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>
    <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>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Excluded revenues:</TD>
    <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>
    <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>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Amort - Favorable lease</TD>
    <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>
    <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;&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;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Lease Induce/Rent reduct</TD>
    <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>
    <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;&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;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FASB 13 Revenue</TD>
    <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>
    <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;&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;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;Total excluded revenues</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&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;</TD>
    <TD NOWRAP STYLE="border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&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;</TD>
    <TD NOWRAP STYLE="border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&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;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <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>
    <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>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;Gross revenues</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-bottom: windowtext 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp;</TD>
    <TD NOWRAP STYLE="border-bottom: windowtext 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;$&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;</TD>
    <TD NOWRAP STYLE="border-bottom: windowtext 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;3% of Gross Revenues</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;$&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;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;$&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;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <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>
    <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>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Less Actual management fees charged:</TD>
    <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>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <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>
    <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>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Adjustment required</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-top: windowtext 1pt solid; border-bottom: windowtext 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp;</TD>
    <TD NOWRAP STYLE="border-top: windowtext 1pt solid; border-bottom: windowtext 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;$&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;</TD>
    <TD NOWRAP STYLE="border-top: windowtext 1pt solid; border-bottom: windowtext 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt">&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;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 ">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">___________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0"><A HREF="#note_ftnref3" NAME="note_ftn3" STYLE="font-size: 65%; vertical-align: 35%">3</A>
To be adjusted as appropriate to determine management fees for the quarter.</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1in 6pt; text-align: center"><B>Franklin Street Properties Corp.<BR>
Pricing Grid<BR>
_________________ [Date]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<U>Applicable
Rate</U>&rdquo; means, from time to time, the following percentages per annum, based upon the Leverage Ratio as set forth in the
most recent compliance certificate received by the Administrative Agent pursuant to Section 6.02(b)(i):</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 34%; border: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Leverage Ratio</B></P></TD>
    <TD STYLE="width: 22%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 110%; font-weight: bold; text-align: center">Eurodollar <BR> Rate Margin <BR> and Letters of<BR> &nbsp;Credit</TD>
    <TD STYLE="width: 22%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 110%; font-weight: bold; text-align: center">Base Rate <BR> Margin</TD>
    <TD STYLE="width: 22%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 110%; font-weight: bold; text-align: center">Facility Fee</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: justify"><U>&lt;</U> 25%</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">135.0 bps</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">35.0 bps</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">20.0 bps</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: justify">&gt; 25% and <U>&lt;</U> 35%</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">140.0 bps</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">40.0 bps</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">25.0 bps</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: justify">&gt; 35% and <U>&lt;</U> 45%</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">145.0 bps</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">45.0 bps</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">30.0 bps</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: justify">&gt; 45% and <U>&lt;</U> 55%</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">165.0 bps</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">65.0 bps</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">35.0 bps</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: justify">&gt; 55% </TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">190.0 bps</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">90.0 bps</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">40.0 bps</TD></TR>
</TABLE>
<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 0 2.15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">If elected in accordance
with the provisions of the definition of &ldquo;Applicable Rate&rdquo; in the Agreement, the Applicable Rate shall be as provided
in the following grid.</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="width: 17%; border: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 110%; font-weight: bold; text-align: center">Level</TD>
    <TD STYLE="width: 27%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 110%; font-weight: bold; text-align: center">Credit Rating</TD>
    <TD STYLE="width: 18%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 110%; font-weight: bold; text-align: center">Eurodollar<BR> &nbsp;Rate Margin and <BR> Letters of <BR> Credit</TD>
    <TD STYLE="width: 19%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 110%; font-weight: bold; text-align: center">Base Rate <BR> Margin</TD>
    <TD STYLE="width: 19%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 110%; font-weight: bold; text-align: center">Facility Fee</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">I</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">A-/A3 (or higher)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">100.0 bps</TD>
    <TD STYLE="vertical-align: top; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">0.0 bps</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">15.0 bps</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">II</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">BBB+/Baa1</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">105.0 bps</TD>
    <TD STYLE="vertical-align: top; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">5.0 bps</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">20.0 bps</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">III</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">BBB/Baa2</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">120.0 bps</TD>
    <TD STYLE="vertical-align: top; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">20.0 bps</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">25.0 bps</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">IV</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">BBB-/Baa3</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">145.0 bps</TD>
    <TD STYLE="vertical-align: top; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">45.00 bps</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">30.0 bps</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">V</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">&lt;BBB-/Baa3</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">185.0 bps</TD>
    <TD STYLE="vertical-align: top; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">85.0bps</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 200%; text-align: center">40.0 bps</TD></TR>
</TABLE>
<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 0 2.15pt">&nbsp;</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B><I>EXHIBIT&nbsp;E-2</I></B></P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 0 12pt; text-align: center"><B>FORM OF PRO FORMA COMPLIANCE CERTIFICATE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">To:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank
of America, N.A., as Administrative Agent</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Reference is made
to that certain Amended and Restated Credit Agreement, dated as of September ___, 2012 (as amended, restated, extended, supplemented
or otherwise modified in writing from time to time, the &ldquo;<U>Agreement</U>;&rdquo; the terms defined therein being used herein
as therein defined), among Franklin Street Properties Corp. (&ldquo;FSP&rdquo;) and certain Wholly-Owned Subsidiaries of FSP from
time to time party thereto (collectively, the &ldquo;<U>Borrower</U>&rdquo;), the Lenders from time to time party thereto, and
Bank of America, N.A., as Administrative Agent, L/C Issuer and Swing Line Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The undersigned
Responsible Officer hereby certifies as of the date hereof that he/she is the _______________________________________ of FSP, and
that, as such, he/she is authorized to execute and deliver this Certificate to the Administrative Agent on the behalf of the Borrower.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">Pursuant to <U>Section [6.12(b)/6.12(c)</U>] of the Agreement, the Borrower requests the following
release: ______________ (the &ldquo;<U>Release</U>&rdquo;)<I>.<A HREF="#note_ftn4" NAME="note_ftnref4" STYLE="font-size: 65%; vertical-align: 35%">1</A></I></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">The undersigned has reviewed and is familiar with the terms of the Agreement and has made, or has
caused to be made under his/her supervision, a pro forma analysis based on [audited/unaudited] financial statements of the Borrower
for the calendar year/quarter ending _______________ of the effect of the Release on the financial covenants set forth in <U>Section
7.11</U> of the Agreement (the &ldquo;<U>Pro Forma Analysis</U>&rdquo;).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">Based on the Pro Forma Analysis, immediately before and immediately after the Release, the Borrower
will be in compliance with the covenants set forth in <U>Section 7.11</U> of the Agreement.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify">To the knowledge of the undersigned, immediately prior to such Release and immediately following
such Release, no Default or Event of Default exists or will exist under the Agreement or any of the other Loan Documents.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>IN WITNESS WHEREOF,</I>
the undersigned has executed this Certificate as of _______________, _____.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 12pt"><B><U>BORROWER</U></B>:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2.85pt">&nbsp;</P></TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 12pt"><B>Franklin Street Properties Corp.,</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">a Maryland corporation</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">By: ________________________________</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2.85pt">Name:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2.85pt">Title:</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">__________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0.5in"><A HREF="#note_ftnref4" NAME="note_ftn4" STYLE="font-size: 65%; vertical-align: 35%">1</A>
Describe requested release of Borrower and/or Property. Include basis thereof, including for any applicable Property being disposed
of, the estimated purchase price, and for any Borrower becoming an Excluded Subsidiary by virtue of Indebtedness, the amount of
such Indebtedness.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 9.5pt">Exhibit </FONT>E-2
&ndash; Page 1</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: center">Form of Pro Forma Compliance Certificate</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B><I>EXHIBIT&nbsp;F-1</I></B></P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 0 24pt; text-align: center"><B>ASSIGNMENT AND ASSUMPTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">This Assignment
and Assumption (this &ldquo;<U>Assignment and Assumption</U>&rdquo;) is dated as of the Effective Date set forth below and is entered
into by and between <B>[the]</B> <B>[each]</b><A HREF="#note_ftn5" NAME="note_ftnref5" STYLE="font-size: 65%; vertical-align: 35%">2</A>
Assignor identified in item 1 below (<B>[the]</B> <B>[each, an]</B> &ldquo;<U>Assignor</U>&rdquo;) and <B>[the]</B> <B>[each]</B>
Assignee identified in item&nbsp;2 below (<B>[the]</B> <B>[each, an]</B> &ldquo;<U>Assignee</U>&rdquo;). <B>[It is understood and
agreed that the rights and obligations of [the Assignors] [the Assignees] hereunder are several and not joint.]</b><A HREF="#note_ftn6" NAME="note_ftnref6" STYLE="font-size: 65%; vertical-align: 35%">3</A>
Capitalized terms used but not defined herein shall have the meanings given to them in the Credit Agreement identified below (the
&ldquo;<U>Credit Agreement</U>&rdquo;), receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and
Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this
Assignment and Assumption as if set forth herein in full.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">For an agreed consideration,
<B>[the]</B> <B>[each]</B> Assignor hereby irrevocably sells and assigns to <B>[the Assignee]</B> <B>[the respective Assignees]</B>,
and <B>[the]</B> <B>[each]</B> Assignee hereby irrevocably purchases and assumes from <B>[the Assignor]</B> <B>[the respective
Assignors]</B>, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective
Date inserted by the Administrative Agent as contemplated below (i)&nbsp;all of <B>[the Assignor&rsquo;s]</B> <B>[the respective
Assignors&rsquo;]</B> rights and obligations in <B>[its capacity as a Lender]</B> <B>[their respective capacities as Lenders]</B>
under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount
and percentage interest identified below of all of such outstanding rights and obligations of <B>[the Assignor]</B> <B>[the respective
Assignors]</B> under the respective facilities identified below (including, without limitation, the Letters of Credit and the Swing
Line Loans included in such facilities) and (ii)&nbsp;to the extent permitted to be assigned under applicable law, all claims,
suits, causes of action and any other right of <B>[the Assignor (in its capacity as a Lender)]</B> <B>[the respective Assignors
(in their respective capacities as Lenders)]</B> against any Person, whether known or unknown, arising under or in connection with
the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or
in any way based on or related to any of the foregoing, including, but not limited to, contract claims, tort claims, malpractice
claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant
to clause&nbsp;(i) above (the rights and obligations sold and assigned by <B>[the]</B> <B>[any]</B> Assignor to <B>[the]</B> <B>[any]</B>
Assignee pursuant to clauses&nbsp;(i) and (ii) above being referred to herein collectively as <B>[the]</B> <B>[an]</B> &ldquo;<U>Assigned
Interest</U>&rdquo;). Each such sale and assignment is without recourse to <B>[the]</B> <B>[any]</B> Assignor and, except as expressly
provided in this Assignment and Assumption, without representation or warranty by <B>[the]</B> <B>[any]</B> Assignor.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">5.</TD>
    <TD STYLE="width: 10%; text-align: justify"><U>Assignor<B>[s]</B></U>:</TD>
    <TD STYLE="width: 86%; text-align: justify">______________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">______________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">6.</TD>
    <TD STYLE="text-align: justify"><U>Assignee<B>[s]</B></U>:</TD>
    <TD STYLE="text-align: justify">______________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">______________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">[for each Assignee, indicate <B>[Affiliate]</B> <B>[Approved Fund]</B> of <B>[<I>identify Lender</I>]</B>]</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">7.</TD>
    <TD STYLE="text-align: justify"><U>Borrower(s)</U>:</TD>
    <TD STYLE="text-align: justify">Franklin Street Properties Corp. and certain Wholly-Owned Subsidiaries thereof.</TD></TR>
</TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0">___________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0.5in"><A HREF="#note_ftnref5" NAME="note_ftn5" STYLE="font-size: 65%; vertical-align: 35%">2</A>
<FONT STYLE="font-size: 9.5pt">For bracketed language here and elsewhere in this form relating to the Assignor(s), if the assignment
is from a single Assignor, choose the first bracketed language. If the assignment is from multiple Assignors, choose the second
bracketed language.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0.5in"><A HREF="#note_ftnref6" NAME="note_ftn6" STYLE="font-size: 65%; vertical-align: 35%">3</A><FONT STYLE="font: 9.5pt Times New Roman, Times, Serif">
</FONT>Include bracketed language if there are either multiple Assignors or multiple Assignees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 9.5pt">Exhibit </FONT>F-1
&ndash; 1</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: center">Form of Assignment and Assumption</P>


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



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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top"><TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">8.</TD><TD STYLE="text-align: justify"><U>Administrative Agent</U>: Bank of America, N.A., as the administrative agent under the Credit
Agreement</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">9.</TD><TD STYLE="text-align: justify"><U>Credit Agreement</U>: Amended and Restated Credit Agreement, dated as of September ___, 2012,<B>
</B>among Franklin Street Properties Corp. and certain Wholly-Owned Subsidiaries thereof from time to time party thereto, the Lenders
from time to time party thereto, and Bank of America, N.A., as Administrative Agent, L/C Issuer, and Swing Line Lender</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">10.</TD><TD STYLE="text-align: justify"><U>Assigned Interest[s]</U>:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><U>Revolving Loan(s)</U></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 14%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Assignor[s]</TD>
    <TD STYLE="width: 14%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Assignee[s]</TD>
    <TD STYLE="width: 14%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Facility<BR>
<U>Assigned</U></TD>
    <TD STYLE="width: 18%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Aggregate<BR>
Amount of<BR>
Commitment <BR>
<U>for all Lenders</u><A HREF="#note_ftn7" NAME="note_ftnref7" STYLE="font-size: 65%; vertical-align: 35%">4</A></TD>
    <TD STYLE="width: 14%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Amount of<BR>
Commitment <BR>
<U>Assigned</U></TD>
    <TD STYLE="width: 14%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Percentage<BR>
Assigned of<BR>
<U>Commitment</U><A HREF="#note_ftn8" NAME="note_ftnref8" STYLE="font-size: 65%; vertical-align: 35%">8</A></TD>
    <TD STYLE="width: 12%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">CUSIP<BR>
<U>Number</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Revolver Loan <BR> Commitment <BR> (and related <BR> Swing Line <BR> Loan and Letter <BR> of Credit <BR> Commitments)</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$________________</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$_________</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">____________%</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">____________</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$________________</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$_________</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">____________%</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">____________</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$________________</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$_________</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">____________%</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><U>Term Loan</U></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 14%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Assignor[s]</TD>
    <TD STYLE="width: 14%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Assignee[s]</TD>
    <TD STYLE="width: 14%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Facility<BR>
<U>Assigned</U></TD>
    <TD STYLE="width: 18%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Aggregate<BR>
Amount of<BR>
Commitment <BR>
<U>for all Lenders</U><FONT STYLE="font-size: 9.5pt"><SUP>5</SUP></FONT></TD>
    <TD STYLE="width: 14%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Amount of<BR>
Commitment <BR>
<U>Assigned</U></TD>
    <TD STYLE="width: 14%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Percentage<BR>
Assigned of<BR>
<U>Commitment</U><FONT STYLE="font-size: 9.5pt"><SUP>4</SUP></FONT></TD>
    <TD STYLE="width: 12%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">CUSIP<BR>
<U>Number</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Term Loan Commitment</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$________________</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$_________</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">____________%</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">____________</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$________________</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$_________</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">____________%</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><A HREF="#note_ftnref7" NAME="note_ftn7" STYLE="font-size: 65%; vertical-align: 35%">4</A><FONT STYLE="font: 9.5pt Times New Roman, Times, Serif">
</FONT>Amounts in this column and in the column immediately to the right to be adjusted by the counterparties to take into account
any payments or prepayments made between the Trade Date and the Effective Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><A HREF="#note_ftnref8" NAME="note_ftn8" STYLE="font-size: 65%; vertical-align: 35%">5</A><FONT STYLE="font-size: 9.5pt">
Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder.</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 9.5pt">Exhibit </FONT>F-1
&ndash; 2</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: center">Form of Assignment and Assumption</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>[<U>Trade
Date</U>:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;__________________]</b><A HREF="#note_ftn9" NAME="note_ftnref9" STYLE="font-size: 65%; vertical-align: 35%">6</A></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Effective Date:
__________________, 20__ <B>[TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER
IN THE REGISTER THEREFOR.]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The terms set forth
in this Assignment and Assumption are hereby agreed to:</P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0">______________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><A HREF="#note_ftnref9" NAME="note_ftn9" STYLE="font-size: 65%; vertical-align: 35%">9</A><FONT STYLE="font-size: 9.5pt">
To be completed if the Assignor and the Assignee intend that the minimum assignment amount is to be determined as of the Trade
Date.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 9.5pt">Exhibit </FONT>F-1
&ndash;3</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Form of Assignment and Assumption</P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; padding-right: 5.4pt; padding-bottom: 0.25in; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 51%; padding-right: 5.4pt; padding-bottom: 0.25in; padding-left: 5.4pt"><B><U>ASSIGNOR</U>:<BR>
<BR>
[NAME OF ASSIGNOR]<BR>
<BR>
<BR>
</B>By: ___________________________<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: ________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 0.25in; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 0.25in; padding-left: 5.4pt"><B><U>ASSIGNEE</U>:<BR>
<BR>
[NAME OF ASSIGNEE]<BR>
<BR>
<BR>
</B>By: ___________________________<BR> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: ________________________ <BR>
</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 0.25in; padding-left: 5.4pt"><B>[Consented to and]</B><A HREF="#note_ftn10" NAME="note_ftnref10"
STYLE="font-size: 65%; vertical-align: 35%">7</A> Accepted:<BR>
<BR>
<B>BANK OF AMERICA, N.A.</B>,<BR>
as Administrative Agent<BR>
<BR>
<BR>By: ___________________________<BR> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: ________________________ &nbsp; &nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 0.25in; padding-left: 5.4pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 0.25in; padding-left: 5.4pt"><B>[Consented to:]</B><A HREF="#note_ftn11" NAME="note_ftnref11"
STYLE="font-size: 65%; vertical-align: 35%">8</A><BR>
<BR>
<BR>By: ___________________________<BR> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: ________________________ &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 0.25in; padding-left: 5.4pt; font-weight: bold">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">__________________</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><A HREF="#note_ftnref10" NAME="note_ftn10" STYLE="font-size: 65%; vertical-align: 35%">10</A><FONT STYLE="font-size: 9.5pt">
To be added only if the consent of the Administrative Agent is required by the terms of the Credit Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><A HREF="#note_ftnref11" NAME="note_ftn11" STYLE="font-size: 65%; vertical-align: 35%">11</A><FONT STYLE="font-size: 9.5pt">
To be added only if the consent of the Borrower and/or other parties (e.g. Swing Line Lender, L/C Issuer) is required by the terms
of the Credit Agreement.</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 9.5pt">Exhibit </FONT>F-1
&ndash;4</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: center">Form of Assignment and Assumption</P>



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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B><I>ANNEX 1 TO ASSIGNMENT AND ASSUMPTION</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">FRANKLIN STREET PROPERTIES CORP. &ndash;CREDIT AGREEMENT<BR>
<BR>
STANDARD TERMS AND CONDITIONS FOR<BR>
ASSIGNMENT AND ASSUMPTION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Representations
and Warranties</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">1.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Assignor</U>.
<B>[The]</B> <B>[Each]</B> Assignor (a)&nbsp;represents and warrants that (i)&nbsp;it is the legal and beneficial owner of <B>[the]</B>
<B>[[the relevant]</B> Assigned Interest, (ii)&nbsp;<B>[the]</B> <B>[such]</B> Assigned Interest is free and clear of any lien,
encumbrance or other adverse claim and (iii)&nbsp;it has full power and authority, and has taken all action necessary, to execute
and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby; and (b)&nbsp;assumes no responsibility
with respect to (i)&nbsp;any statements, warranties or representations made in or in connection with the Credit Agreement or any
other Loan Document, (ii)&nbsp;the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan
Documents or any collateral thereunder, (iii)&nbsp;the financial condition of the Borrower, any of their Subsidiaries or Affiliates
or any other Person obligated in respect of any Loan Document or (iv)&nbsp;the performance or observance by the Borrower, any of
their Subsidiaries or Affiliates or any other Person of any of their respective obligations under any Loan Document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Assignee</U>.
<B>[The]</B> <B>[Each]</B> Assignee (a)&nbsp;represents and warrants that (i)&nbsp;it has full power and authority, and has taken
all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby
and to become a Lender under the Credit Agreement, (ii)&nbsp;it meets all the requirements to be an assignee under <U>Section&nbsp;10.06(b)(iii)</U>
and <U>(v)</U> of the Credit Agreement (subject to such consents, if any, as may be required under <U>Section&nbsp;10.06(b)(iii)</U>
of the Credit Agreement), (iii)&nbsp;from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement
as a Lender thereunder and, to the extent of <B>[the]</B> <B>[the relevant]</B> Assigned Interest, shall have the obligations of
a Lender thereunder, (iv)&nbsp;it is sophisticated with respect to decisions to acquire assets of the type represented by <B>[the]</B>
<B>[such]</B> Assigned Interest and either it, or the Person exercising discretion in making its decision to acquire <B>[the]</B>
<B>[such]</B> Assigned Interest, is experienced in acquiring assets of such type, (v)&nbsp;it has received a copy of the Credit
Agreement, and has received or has been accorded the opportunity to receive copies of the most recent financial statements delivered
pursuant to Section&nbsp;6.01 thereof, as applicable, and such other documents and information as it deems appropriate to make
its own credit analysis and decision to enter into this Assignment and Assumption and to purchase <B>[the]</B> <B>[such]</B> Assigned
Interest, (vi)&nbsp;it has, independently and without reliance upon the Administrative Agent or any other Lender and based on such
documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Assignment
and Assumption and to purchase <B>[the]</B> <B>[such]</B> Assigned Interest, and (vii)&nbsp;if it is a Foreign Lender, attached
hereto is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed
by <B>[the]</B> <B>[such]</B> Assignee; and (b)&nbsp;agrees that (i)&nbsp;it will, independently and without reliance upon the
Administrative Agent, <B>[the]</B> <B>[any]</B> Assignor or any other Lender, and based on such documents and information as it
shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents,
and (ii)&nbsp;it will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are
required to be performed by it as a Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payments</U>.
From and after the Effective Date, the Administrative Agent shall make all payments in respect of <B>[the]</B> <B>[each]</B> Assigned
Interest (including payments of principal, interest, fees and other amounts) to <B>[the]</B> <B>[the relevant]</B> Assignor for
amounts which have accrued to but excluding the Effective Date and to <B>[the]</B> <B>[the relevant]</B> Assignee for amounts which
have accrued from and after the Effective Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>General
Provisions</U>. This Assignment and Assumption shall be binding upon, and inure to the benefit of, the parties hereto and their
respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together
shall constitute one instrument. Delivery of an executed counterpart of a signature page of this Assignment and Assumption by telecopy
shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and Assumption
shall be governed by, and construed in accordance with, the law of the State of New York (without giving effect to New York&rsquo;s
principles of conflicts of law).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 9.5pt">Exhibit </FONT>F-1
&ndash; 5</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: center">Form of Assignment and Assumption</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B><I>EXHIBIT F-2</I></B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 49%; border-bottom: windowtext 1pt solid; font-weight: bold">Administrative Details Reply Form</TD>
    <TD STYLE="width: 51%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: justify; font-weight: bold">FAX ALONG WITH COMMITMENT LETTER TO:</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">&nbsp;Marvin Sensabaugh, FAX#: 704.719.8705&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">&nbsp;Cheryl Bailey, FAX#: 617.346.4670</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-bottom: 6pt; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-bottom: 6pt; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-bottom: 6pt; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-bottom: 6pt; text-align: left; text-indent: 0in">I. Borrower Name</TD>
    <TD STYLE="vertical-align: top; padding-bottom: 6pt; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-bottom: 6pt; text-align: left; text-indent: 0in">Franklin Street Properties Corp</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-bottom: 6pt; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-bottom: 6pt; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-bottom: 6pt; text-align: left; text-indent: 0in">$500,000,000 Senior Unsecured Revolving Credit Facility</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-bottom: 6pt; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-bottom: 6pt; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-bottom: 6pt; text-align: left; text-indent: 0in">$400,000,000 Senior Unsecured Term Facility</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 21%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 21%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD>
    <TD STYLE="width: 18%">&nbsp;</TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 47%; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="width: 2%; padding-right: 5.75pt; padding-left: 0.5in; text-indent: -0.5in">&nbsp;</TD>
    <TD STYLE="width: 51%; padding-right: 5.75pt; padding-left: 0.5in; text-indent: -0.5in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">II.&nbsp; Legal Name of Lender for Signature Page:<BR>
&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 0.5in; text-indent: -0.5in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 0.5in; text-indent: -0.5in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">III. Name of Lender for any eventual tombstone:<BR>
&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 0.5in; text-indent: -0.5in">&nbsp;</TD>
    <TD STYLE="border-top: windowtext 1pt solid; padding-right: 5.75pt; padding-left: 0.5in; text-indent: -0.5in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">IV.&nbsp; Domestic Address:<BR>
&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 0.5in; font-weight: bold; text-indent: -0.5in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">V.&nbsp; Eurodollar Address:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.75pt; padding-left: 0.5in; font-weight: bold; text-indent: -0.5in">&nbsp;<BR>
&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 0.5in; text-indent: -0.5in">&nbsp;</TD>
    <TD STYLE="border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.75pt; padding-left: 0.5in; text-indent: -0.5in">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">VI. Contact Information</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 17%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 29%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center">Credit Contact</TD>
    <TD STYLE="width: 3%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 23%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center">Operations Contact</TD>
    <TD STYLE="width: 3%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center">Legal Counsel</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Name:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Title:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Address:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Telephone:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Facsimile:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">E Mail Address:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit F-2 &ndash; Page 1<BR>
Form of Administrative Questionnaire</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 17%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 29%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center">Bid Contact</TD>
    <TD STYLE="width: 3%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 23%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center">L/C Contact</TD>
    <TD STYLE="width: 3%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center">Draft Documentation Contact</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Name:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Title:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Address:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Telephone:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Facsimile:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">E Mail Address:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">VII. Lender&rsquo;s Fed Wire Payment Instructions</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 17%; padding-right: 5.4pt; padding-left: 5.4pt">Pay to:</TD>
    <TD STYLE="width: 39%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 44%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">(Name of Lender)</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">(ABA#)</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">(City/State)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">(Account #)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">(Account Name)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">(Attention)</TD>
    <TD STYLE="border-top: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 81pt; text-align: justify; text-indent: -81pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 81pt; text-align: justify; text-indent: -81pt">VIII. Organizational
Structure:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Foreign Br., organized under which laws, etc.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Lender&rsquo;s Tax ID:</TD>
    <TD STYLE="border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Tax withholding Form Attached (For Foreign Buyers)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">[___]</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Form W-9</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">[___]</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Form W-8</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">[___]</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Form 4224 effective: ____________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">[___]</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Form 1001</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">[___]</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">W/Hold _________%&nbsp; Effective ________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">[___]</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Form 4224 on file with Bank of America from previous current years transaction ___________________</TD></TR>
<TR>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 52%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit F-2 &ndash; Page 2<BR>
Form of Administrative Questionnaire</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 81pt; text-align: justify; text-indent: -81pt">IX. Bank of
America Payment Instructions:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold">Pay to:</TD>
    <TD COLSPAN="2" ROWSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><B>Bank of America&rsquo;s Wiring Instructions
    &nbsp; <BR>
    <BR>
    Bank of America &nbsp; <BR>
    <BR>
    ABA # 026009593 &nbsp; <BR>
    <BR>
    Credit: G/L Account # 1366211723000 &nbsp; <BR>
    <BR>
    For Further Credit to: Franklin Street Properties <BR>
    <BR>
    RE: Obligor # 656275 &nbsp; <BR>
    <BR>
    ATTN: Cheryl Bailey/Clare O&rsquo;Connor &nbsp;</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" ROWSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">X.&nbsp; Name of Authorized Officer:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Name:</TD>
    <TD STYLE="border-top: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Signature:</TD>
    <TD STYLE="border-top: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Date:</TD>
    <TD STYLE="border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 67%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 3pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Exhibit F-2 &ndash; Page 3<BR>
Form of Administrative Questionnaire</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B><I>EXHIBIT&nbsp;G</I></B></P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 0 24pt; text-align: center"><B>FORM OF JOINDER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Reference is made to the Amended and
Restated Credit Agreement, dated as of September ___, 2012 (as from time to time amended and in effect, the &ldquo;Credit Agreement&rdquo;),
among Franklin Street Properties Corp. (&ldquo;FSP&rdquo;), those other Borrowers listed on <U>Schedule 1</U> (as amended) of the
Credit Agreement (collectively, the &ldquo;Borrower&rdquo;) which from time to time are a party to the Credit Agreement, Bank of
America, N.A. as Administrative Agent (the &ldquo;Administrative Agent&rdquo;) and the other Lenders party to the Credit Agreement
(collectively, such Lenders with the Administrative Agent, the &ldquo;Lender&rdquo;). Capitalized terms used herein and not otherwise
defined shall have the meanings assigned to such terms in the Credit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">In consideration of and as an inducement
to the Lender continuing to provide financing under the Credit Agreement, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, ________________________ (the &ldquo;Additional Borrower&rdquo;), a Wholly-Owned
Subsidiary of FSP, hereby acknowledges and agrees to the terms and conditions of the Credit Agreement, each Revolver Note, each
Term Note and each Issuer Document, joins in the agreements of the Borrower under the Credit Agreement, each Revolver Note, each
Term Note and each Issuer Document and agrees that all Obligations of the Borrower under the Loan Documents shall be the obligations,
jointly and severally, of the Additional Borrower with the same force and effect as if the Additional Borrower was originally a
Borrower under the Credit Agreement and an original signatory to the Credit Agreement and each Revolver Note and each Term Note
and each Issuer Document. Furthermore, the Additional Borrower shall have all the liabilities and obligations of a maker under
each Revolver Note and each Term Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The Additional Borrower further agrees
that its liability hereunder is direct and primary and may be enforced by the Lender before or after proceeding against any other
Borrower.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-indent: 0.5in">The undersigned hereby represents and warrants
to the Lender that it has the complete right, power and authority to execute and deliver this Joinder Agreement and, to perform
all of the obligations hereunder and the Obligations under the Loan Documents. This Joinder Agreement shall be binding upon the
undersigned and its successors and assigns and shall inure to the benefit of the Lender and its successors and assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">THIS JOINDER SHALL
BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO NEW YORK'S PRINCIPLES
OF CONFLICTS OF LAWS).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit G &ndash; Page 1<BR>
Form of Joinder</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-indent: 0.5in">Executed as a sealed instrument as of the
__ day of __________, ______.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 2in; text-indent: 0"><B>____________________________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 2in; text-indent: 0">By: ________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 2in; text-indent: 0">Its: _________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 2in; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 2in; text-indent: 0.5in">By:____________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 2in; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: ________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 2in; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Its: __________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><U>Acknowledged and Agreed:</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Franklin Street Properties Corp., as agent for each Borrower</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;_____________________(SEAL)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit G &ndash; Page 2<BR>
Form of Joinder</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B><I>EXHIBIT&nbsp;H</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><U>CERTIFICATE TO ACCOMPANY REQUEST FOR
CREDIT EXTENSION</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">To:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank of America, N.A., as Administrative
Agent</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Reference is made
to that certain Amended and Restated Credit Agreement, dated as of September ___, 2012 (as amended, restated, extended, supplemented
or otherwise modified in writing from time to time, the &ldquo;<U>Agreement</U>;&rdquo; the terms defined therein being used herein
as therein defined), among Franklin Street Properties Corp. (&ldquo;FSP&rdquo;) and certain Wholly-Owned Subsidiaries of FSP from
time to time party thereto (collectively, the &ldquo;<U>Borrower</U>&rdquo;), the Lenders from time to time party thereto, and
Bank of America, N.A., as Administrative Agent, L/C Issuer and Swing Line Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The undersigned
Responsible Officer hereby certifies as of the date hereof that he/she is the _______________________________________ of FSP, and
that, as such, he/she is authorized to execute and deliver this Certificate to the Administrative Agent on the behalf of the Borrower,
and that:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: left">To the knowledge of the undersigned, no Default or Event of Default exists under the Agreement or
any of the other Loan Documents or would result from such proposed Credit Extension or from the application of the proceeds thereof.<BR STYLE="mso-special-character: line-break">
<BR STYLE="mso-special-character: line-break">
</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: left">The representations and warranties of the Borrower contained in <U>Article V</U> of the Agreement
are true and correct in all material respects on and as of the date hereof, except (a) to the extent that such representations
and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, and (b)
except that (i) the representations and warranties contained in subsections&nbsp;(a), (b) and (c) of <U>Section&nbsp;5.05</U> refer
to the most recent statements furnished pursuant to clauses&nbsp;(a) and (b), respectively, of <U>Section&nbsp;6.01</U>; and (ii)
the representations and warranties contained in <U>Section 5.13(a)</U> refer to the most recent update to <U>Schedule 5.13(a)</U>
furnished pursuant to <U>Section 6.02(a)(ii)</U>, and are true and correct in all material respects as of the effective date of
such update, and (iii) the representations and warranties contained in the first and second sentences of <U>Section 5.21</U> refer
to the most recent update to <U>Schedule 5.21</U> furnished pursuant to <U>Section 6.02(a)(i)</U>, and are true and correct in
all material respects as of the effective date of such update.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>IN WITNESS WHEREOF,</I>
the undersigned has executed this Certificate as of _______________, _____.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 12pt"><B><U>BORROWER</U></B>:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2.85pt">&nbsp;</P></TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 12pt"><B>Franklin Street Properties Corp.,</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">a Maryland corporation</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">By: ________________________________</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2.85pt">Name:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2.85pt">Title:</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><B>&nbsp;</B></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B><I>SCHEDULE&nbsp;1</I></B></P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 0 24pt; text-align: center"><B>BORROWER ENTITIES</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold">Material Subsidiaries of Franklin Street Properties Corp. as of September __, 2012</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 64%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 36%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold">Name</TD>
    <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold">Jurisdiction of Organization</TD></TR>
<TR STYLE="vertical-align: bottom">
    <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>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP 121 South Eighth Street LLC</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP 1410 East Renner Road LLC</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP 380 Interlocken Corp.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP 390 Interlocken LLC</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP 4807 Stonecroft Boulevard LLC</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP 4820 Emperor Boulevard LLC</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;FSP 909 Davis Street LLC</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Addison Circle Corp.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Addison Circle Limited Partnership</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Texas</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Addison Circle LLC</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Blue Lagoon Drive Corp.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Blue Lagoon Drive LLC</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Collins Crossing Corp.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Collins Crossing Limited Partnership</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Texas</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Collins Crossing LLC</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Dulles Virginia LLC</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP East Baltimore Street LLC</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Eden Bluff Corporate Center I LLC</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Eldridge Green Corp.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Eldridge Green Limited Partnership</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Texas</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Eldridge Green LLC</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Emperor Boulevard Limited Partnership</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Forest Park IV LLC</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Forest Park IV NC Limited Partnership</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">North Carolina</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Greenwood Plaza Corp.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Hillview Center Limited Partnership</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Massachusetts</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Holdings LLC</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Innsbrook Corp.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Investments LLC</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Massachusetts</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Lakeside Crossing I LLC</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 64%; padding-right: 5.4pt; padding-left: 5.4pt">FSP Legacy Tennyson Center LLC</TD>
    <TD NOWRAP STYLE="width: 36%; padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Liberty Plaza Limited Partnership</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Texas</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Montague Business Center Corp.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Northwest Point LLC</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP One Legacy Circle LLC</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP One Overton Park LLC</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP One Ravinia Drive LLC</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Park Seneca Limited Partnership</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Massachusetts</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Park Ten Development Corp.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Park Ten Development LLC</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Park Ten Limited Partnership</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Texas</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Park Ten LLC</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Park Ten Phase II&nbsp; Limited Partnership</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Texas</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Property Management LLC</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Massachusetts</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Protective TRS Corp.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Massachusetts</TD></TR>
<TR STYLE="vertical-align: top">
    <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>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP River Crossing LLC</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Southfield Centre Limited Partnership</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Massachusetts</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Willow Bend Office Center Corp.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Willow Bend Office Center Limited Partnership</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Texas</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Willow Bend Office Center LLC</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
</TABLE>

<P style="margin:0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</p>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B><I>SCHEDULE&nbsp;2.01</I></B></P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 0 24pt; text-align: center"><B>COMMITMENTS<BR>
AND APPLICABLE PERCENTAGES</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="width: 46%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman Bold; font-weight: bold; text-align: center">Lender</TD>
    <TD STYLE="width: 31%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman Bold; font-weight: bold; text-align: center">Revolver Loan Commitment</TD>
    <TD STYLE="width: 23%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman Bold; font-weight: bold; text-align: center">Applicable Revolver <BR> Percentage</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt">Bank of America, N.A.</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">$108,333,333.33</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">21.666666667%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt">Bank of Montreal</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">$ 69,444,444.44</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">13.888888889%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt">Regions Bank</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">$ 69,444,444.44</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">13.888888889%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt">RBS Citizens, National Association</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">$ 55,555,555.56</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">11.111111111%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt">BBVA Compass</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">$ 47,222,222.22</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">9.444444444%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt">PNC Bank, National Association</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">$ 47,222,222.22</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">9.444444444%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt">U.S. Bank National Association</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">$ 33,333,333.33</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">6.666666667%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt">Capital One, N.A.</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">$ 27,777,777.78</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">5.555555556%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt">TD Bank, N.A.</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">$ 27,777,777.78</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">5.555555556%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt">Branch Banking and Trust Company</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">$ 13,888,888.89</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">2.777777778%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt">Total</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">$500,000,000.00</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">100.000000000%</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center"><B><I>&nbsp;</I></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="width: 46%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman Bold; font-weight: bold; text-align: center">Lender</TD>
    <TD STYLE="width: 31%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman Bold; font-weight: bold; text-align: center">Term Loan Commitment</TD>
    <TD STYLE="width: 23%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman Bold; font-weight: bold; text-align: center">Applicable Term Loan <BR> Percentage</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt">Bank of America, N.A.</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">$86,666,666.67</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">21.666666667%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt">Bank of Montreal</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">$55,555,555.56</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">13.888888889%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt">Regions Bank</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">$55,555,555.56</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">13.888888889%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt">RBS Citizens, National Association</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">$44,444,444.44</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">11.1111111111%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt">BBVA Compass</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">$37,777,777.78</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">9.444444444%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt">PNC Bank, National Association</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">$37,777,777.78</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">9.444444444%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt">U.S. Bank National Association</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">$26,666,666.67</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">6.666666667%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt">Capital One, N.A.</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">$22,222,222.22</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">5.555555556%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt">TD Bank, N.A.</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">$22,222,222.22</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">5.555555556%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt">Branch Banking and Trust Company</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">$11,111,111.11</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">2.777777778%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt">Total</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">$400,000,000.00</TD>
    <TD STYLE="padding-top: 3pt; padding-bottom: 3pt; text-align: center">100.000000000%</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B><I>SCHEDULE&nbsp;5.05</I></B></P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 0 24pt; text-align: center"><B>SUPPLEMENT TO INTERIM FINANCIAL STATEMENTS</b><BR STYLE="mso-special-character: line-break">
<BR STYLE="mso-special-character: line-break">
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">None</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B><I>SCHEDULE&nbsp;5.06</I></B></P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 0 24pt; text-align: center"><B>LITIGATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">None</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B><I>SCHEDULE&nbsp;5.09</I></B></P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 0 24pt; text-align: center"><B>ENVIRONMENTAL DISCLOSURE ITEMS<BR STYLE="mso-special-character: line-break">
<BR STYLE="mso-special-character: line-break">
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">None</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B><I>SCHEDULE&nbsp;5.12(d)</I></B></P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 0 24pt; text-align: center">PENSION PLAN OBLIGATIONS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">None</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B><I>SCHEDULE&nbsp;5.13</I></B></P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 0 48pt; text-align: center"><B>SUBSIDIARIES; OTHER EQUITY INVESTMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Part (a).&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Subsidiaries</U>.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 7%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 46%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; font-weight: bold">Name</TD>
    <TD STYLE="vertical-align: bottom; width: 25%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; font-weight: bold">Form of Entity</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 22%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; font-weight: bold">Jurisdiction of Organization</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">1.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP 121 South Eighth Street LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">2.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP 1410 East Renner Road LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">3.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP 380 Interlocken Corp.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">corporation</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">4.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP 390 Interlocken LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">5.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP 4807 Stonecroft Boulevard LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">6.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP 4820 Emperor Boulevard LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">7.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP 801 Marquette Avenue LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">8.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Addison Circle Corp.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">corporation</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">9.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Addison Circle Limited Partnership</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited partnership</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Texas</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">10.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Addison Circle LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">11.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Blue Lagoon Drive Corp.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">corporation</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">12.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Blue Lagoon Drive LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">13.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Emperor Boulevard Limited Partnership</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited partnership</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">14.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Collins Crossing Corp.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">corporation</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">15.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Collins Crossing Limited Partnership</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited partnership</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Texas</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">16.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Collins Crossing LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">17.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Dulles Virginia LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">18.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP East Baltimore Street LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">19.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Eden Bluff Corporate Center I LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">20.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Eldridge Green Corp.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">corporation</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">21.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Eldridge Green Limited Partnership</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited partnership</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Texas</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">22.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Eldridge Green LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">23.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Forest Park IV LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">24.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Forest Park IV NC Limited Partnership</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited partnership</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">North Carolina</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">25.</TD>
    <TD NOWRAP STYLE="width: 46%; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Greenwood Plaza Corp.</TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">corporation</TD>
    <TD NOWRAP STYLE="width: 22%; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">26.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Hillview Center Limited Partnership</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited partnership</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Massachusetts</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">27.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Holdings LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">28.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Innsbrook Corp.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">corporation</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">29.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Investments LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Massachusetts</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">30.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Lakeside Crossing I LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">31.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Legacy Tennyson Center LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited partnership</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Texas</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">32.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Liberty Plaza Limited Partnership</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited partnership</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Texas</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">33.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Montague Business Center Corp.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">corporation</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">34.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Northwest Point LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">35.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP One Overton Park LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">36.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP One Legacy Circle LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">37.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Park Seneca Limited Partnership</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited partnership</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Massachusetts</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">38.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Park Ten Development Corp.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">corporation</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">39.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Park Ten Development LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">40.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Park Ten Limited Partnership</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited partnership</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Texas</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">41.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Park Ten LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">42.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Park Ten Phase II Limited Partnership</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited partnership</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Texas</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">43.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Property Management LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Massachusetts</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">44.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Protective TRS Corp.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">corporation</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Massachusetts</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">45.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP REIT Protective Trust</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">trust</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Massachusetts</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">46.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP River Crossing LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">47.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Southfield Centre Limited Partnership</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited partnership</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Massachusetts</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">48.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Willow Bend Office Center Corp.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">corporation</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">49.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Willow Bend Office Center LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">50.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP Willow Bend Office Center Limited Partnership</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited partnership</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Texas</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">51.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP 909 Davis Street LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.5in; text-indent: -0.5in; text-align: center">52.</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">FSP One Ravinia Drive LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Part (b).&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Sponsored REITs</U></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 46%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; font-weight: bold">Sponsored REIT Name</TD>
    <TD STYLE="width: 25%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; font-weight: bold">Form of Entity</TD>
    <TD NOWRAP STYLE="width: 29%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; font-weight: bold">Jurisdiction of Organization</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP 1441 Main Street Corp.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">corporation</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP 1441 Main Street LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP 1441 Main Street TRS Corp.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">corporation</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP 1441 Main Street Trust</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">trust</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP 303 East Wacker Drive Corp.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">corporation</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP 303 East Wacker Drive LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP 385 Interlocken Development Corp.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">corporation</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP 385 Interlocken LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP 50 South Tenth Street Corp.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">corporation</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP 50 South Tenth Street LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP 505 Waterford Corp.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">corporation</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP 5601 Executive Drive Corp.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">corporation</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP 5601 Executive Drive Limited Partnership</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited partnership</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Texas</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP 5601 Executive Drive LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">corporation</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Centre Point V Corp.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">corporation</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Centre Point V LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Energy Tower I Corp.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">corporation</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Energy Tower TRS Corp.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">corporation</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Energy Tower I Limited Partnership</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited partnership</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Texas</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Energy Tower I LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Galleria North Corp.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">corporation</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Galleria North Limited Partnership</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited partnership</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Texas</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Galleria North LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Grand Boulevard Corp.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">corporation</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Grand Boulevard LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Highland Place I Corp.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">corporation</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 46%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; font-weight: bold">Sponsored REIT Name</TD>
    <TD STYLE="width: 25%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; font-weight: bold">Form of Entity</TD>
    <TD NOWRAP STYLE="width: 29%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; font-weight: bold">Jurisdiction of Organization</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Lakeside Crossing II LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Monument Circle Corp.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">corporation</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Monument Circle LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Phoenix Tower Corp.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">corporation</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Phoenix Tower Limited Partnership</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited partnership</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Texas</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Phoenix Tower LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Satellite Place Corp.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">corporation</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Union Centre Corp.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">corporation</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">FSP Union Centre LLC</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt">limited liability company</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Delaware</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B><I>SCHEDULE&nbsp;5.21</I></B></P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0; text-align: center"><B>UNENCUMBERED ASSET POOL PROPERTIES</B></P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0; text-align: left"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">121 SOUTH EIGHTH STREET</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">121 South Eighth Street and 801 Marquette Avenue</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Minneapolis, MN 55403</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">380 INTERLOCKEN</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">380 Interlocken Crescent Blvd.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Broomfield, CO 80021</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">390 INTERLOCKEN</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">390 Interlocken Crescent Blvd.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Broomfield, CO 80021</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">ADDISON CIRCLE</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">15601 Dallas Pkwy.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Addison, TX 75001</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">BLUE LAGOON DRIVE</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">5505 Blue Lagoon Drive</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Miami, FL 33126</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">CENTENNIAL TECHNOLOGY CENTER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">4820, 4920 Centennial Blvd</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Colorado Springs, CO 80919</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">COLLINS CROSSING</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">1500, 1600 Greenville Ave.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Richardson, TX 75080</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">DULLES VIRGINIA</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">45925 Horseshoe Drive</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Dulles, VA 20166</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">EAST BALTIMORE STREET</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">120 East Baltimore St.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Baltimore, MD 21202</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">EDEN BLUFF CORPORATE CENTER I</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">14800 Charlson Road</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Eden Prairie, MN 55344</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">ELDRIDGE GREEN</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">1293 Eldridge Pkwy.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Houston, TX 77027</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">FEDERAL WAY</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">501, 505 South 336<SUP>th </SUP>St.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Federal Way, WA 98003</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD STYLE="width: 5%; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">FOREST PARK IV</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">600 Forest Point Circle</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Charlotte, NC 28273</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">GREENWOOD PLAZA</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">6550 and 6560 Greenwood Plaza Blvd.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Englewood, CO 80111</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">HILLVIEW CENTER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">678-686 Hillview Drive</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Milpitas, CA 95035</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">INNSBROOK</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">5600, 5620, 5640 Cox Rd.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Glen Allen, VA 23060</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">LAKESIDE CROSSING I</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">2291 Ball Drive</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Maryland Heights, MO 63146</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">LIBERTY PLAZA</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">5055, 5057 Keller Springs Rd.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Addison, TX 75001</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">MEADOW POINT</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">14151 Park Meadow Dr.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Chantilly, VA 20151</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">MONTAGUE BUSINESS CENTER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">2730-2760 Junction Avenue</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">408-410 East Plumeria Drive</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">San Jose, CA 95134</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">NORTHWEST POINT</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">50 Northwest Point Rd.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Elk Grove Village, IL 60005</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">ONE OVERTON PARK</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">3625 Cumberland Boulevard</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Atlanta, GA 30339</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">PARK SENECA</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">1515 Mockingbird Lane</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Charlotte, NC 28209</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
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<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0; text-align: left">&nbsp;</P>

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        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">PARK TEN</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">16285 Park Ten Place</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Houston, TX 77084</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">PARK TEN PHASE II</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">16295 Park Ten Place</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Houston, TX 77084</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">RIVER CROSSING</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">3815, 3925 River Crossing Pkwy.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Indianapolis, IN 46240</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SOUTHFIELD CENTRE</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">1800 W. Nine Mile Rd.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Southfield, MI 48075</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">4807 STONECROFT BOULEVARD</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">4807 Stonecroft Boulevard</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Chantilly, VA 20151</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">TIMBERLAKE</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">1370, 1390 Timberlake Manor Pkwy.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Chesterfield, MO 63017</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">TIMBERLAKE EAST</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">1350 Timberlake Manor Pkwy.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Chesterfield, MO 63017</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD STYLE="width: 5%; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">WILLOW BEND OFFICE CENTER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">2740 N. Dallas Pkwy.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Plano, TX 75093</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">EMPEROR BOULEVARD</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">4820 Emperor Boulevard</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Durham, NC 27703</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">909 DAVIS STREET</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">909 Davis Street</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Evanston, IL 60201</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">LEGACY TENNYSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">5100 &amp; 5160 Tennyson Parkway</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Plano, TX 75024</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">EAST RENNER ROAD</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">1410 East Renner Road</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Richardson, TX 75082</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">ONE LEGACY CIRCLE</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">7500 Dallas Parkway</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Plano, TX 75024</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">ONE RAVINIA DRIVE</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">One Ravinia Drive</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Atlanta, Georgia 30346</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B><I>SCHEDULE&nbsp;7.02(g)</I></B></P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 0 24pt; text-align: center"><B>INVESTMENTS</B></P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 0 12pt">None</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B><I>SCHEDULE&nbsp;7.08</I></B></P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 0 24pt; text-align: center"><B>TRANSACTIONS WITH AFFILIATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">None</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B><I>SCHEDULE&nbsp;10.02</I></B></P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 0 24pt; text-align: center"><B>ADMINISTRATIVE AGENT&rsquo;S OFFICE;<BR>
CERTAIN ADDRESSES FOR NOTICES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>BORROWERS:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>c/o Franklin Street Properties Corp.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">401 Edgewater Place, Suite 200</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Wakefield, Massachusetts 01880-6210</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Attention: Chief Financial Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Telephone: (781) 557-1300 [(781) 557-1341]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Facsimile: (781) 246-2807</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Electronic Mail: jdemeritt@franklinstreetproperties.com</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">With an electronic mail copy to: bfournier@franklinstreetproperties.com,
scarter@franklinstreetproperties.com, gcarter@franklinstreetproperties.com, jdemeritt@franklinstreetproperties.com</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 18%; padding-bottom: 6pt">With a copy to:</TD>
    <TD STYLE="width: 40%; padding-bottom: 6pt">WilmerHale</TD>
    <TD STYLE="width: 42%; padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">60 State Street</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">Boston, Massachusetts&nbsp; 02109</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">Attention:&nbsp; Kenneth Hoxsie, Esq.</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">Telephone: (617) 526-6681</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">Telecopier: (617) 526-6000</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt">Electronic Mail:kenneth.hoxsie@wilmerhale.com</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>&nbsp;</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">[Administrative Agent; L/C Issuer and
Swing Line Lender addresses on following page(s)]</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>ADMINISTRATIVE AGENT:<BR>
<BR>
</B><I><U>Administrative Agent<FONT STYLE="color: black">&rsquo;</FONT>s Office<BR>
</U>(for payments and Requests for Borrowings):<BR STYLE="mso-special-character: line-break">
<BR STYLE="mso-special-character: line-break">
</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Bank of America, N.A.<BR>
225 Franklin Street<BR>
MA1 225-02-04<BR>
Boston, MA 02110<BR>
Attn:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gerardine Hawe<BR>
Telephone: 617 346-5240<BR>
Telecopier : 617 346-4670<BR>
Electronic Mail:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;gerardine.hawe@baml.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">And</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Bank of America, N.A.<BR>
225 Franklin Street<BR>
MA1 225-02-04<BR>
Boston, MA 02110<BR>
Attn:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clare M. O&rsquo;Connor<BR>
Telephone: 617 346-0121<BR>
Telecopier : 617 346-4670<BR>
Electronic Mail:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;clare.m.o&rsquo;connor@baml.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">ABA #0260-0959-3<BR>
GL#1366211723000<BR>
Account Name:&nbsp; GA incoming Wire Account<BR>
Reference: Franklin Street Properties/ Obligor #656275<BR>
Attn: Gerardine Hawe/ William White</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><I><U>Other Notices as Administrative Agent:<BR>
</U></I>Bank of America, N.A.<BR>
225 Franklin Street<BR>
MA1 225-02-04<BR>
Boston, MA 02110<BR>
Attn:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gerardine Hawe<BR>
Telephone: 617 346-5240<BR>
Telecopier : 617 346-4670<BR>
Electronic Mail:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;gerardine.hawe@baml.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">And</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Bank of America, N.A.<BR>
225 Franklin Street<BR>
MA1 225-02-04<BR>
Boston, MA 02110<BR>
Attn:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clare M. O&rsquo;Connor<BR>
Telephone: 617 346-0121<BR>
Telecopier : 617 346-4670<BR>
Electronic Mail:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;clare.m.o&rsquo;connor@baml.com</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%; padding-bottom: 6pt">With a copy to:</TD>
    <TD STYLE="width: 80%; padding-bottom: 6pt">Goulston &amp; Storrs, PC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">400 Atlantic Avenue</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">Boston, Massachusetts&nbsp; 02110</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">Attention:&nbsp; James Lerner, Esq.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">Telephone: (617) 574-3525</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">Telecopier: (617) 574-7607</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">Electronic Mail: jlerner@goulstonstorrs.com</TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>L/C ISSUER:<BR>
<BR>
</B>Bank of America, N.A.<BR>
225 Franklin Street<BR>
MA1 225-02-04<BR>
Boston, MA 02110<BR>
Attn:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gerardine Hawe<BR>
Telephone: 617 346-5240<BR>
Telecopier : 617 346-4670<BR>
Electronic Mail:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;gerardine.hawe@baml.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">And</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Bank of America, N.A.<BR>
225 Franklin Street<BR>
MA1 225-02-04<BR>
Boston, MA 02110<BR>
Attn:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clare M. O&rsquo;Connor<BR>
Telephone: 617 346-0121<BR>
Telecopier : 617 346-4670<BR>
Electronic Mail:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;clare.m.o&rsquo;connor@baml.com</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%; padding-bottom: 6pt">With a copy to:</TD>
    <TD STYLE="width: 80%; padding-bottom: 6pt">Goulston &amp; Storrs, PC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">400 Atlantic Avenue</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">Boston, Massachusetts&nbsp; 02110</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">Attention:&nbsp; James Lerner, Esq.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">Telephone: (617) 574-3525</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">Telecopier: (617) 574-7607</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">Electronic Mail: jlerner@goulstonstorrs.com</TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>SWING LINE LENDER:<BR>
<BR>
</B>Bank of America, N.A.<BR>
225 Franklin Street<BR>
MA1 225-02-04<BR>
Boston, MA 02110<BR>
Attn:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gerardine Hawe<BR>
Telephone: 617 346-5240<BR>
Telecopier : 617 346-4670<BR>
Electronic Mail:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;gerardine.hawe@baml.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">And</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Bank of America, N.A.<BR>
225 Franklin Street<BR>
MA1 225-02-04<BR>
Boston, MA 02110<BR>
Attn:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clare M. O&rsquo;Connor<BR>
Telephone: 617 346-0121<BR>
Telecopier : 617 346-4670<BR>
Electronic Mail:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;clare.m.o&rsquo;connor@baml.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">ABA #0260-0959-3<BR>
GL#1366211723000<BR>
Account Name:&nbsp; GA incoming Wire Account<BR>
Reference: Franklin Street Properties/ Obligor #656275<BR>
Attn: Gerardine Hawe/ William White</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%; padding-bottom: 6pt">With a copy to:</TD>
    <TD STYLE="width: 80%; padding-bottom: 6pt">Goulston &amp; Storrs, PC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">400 Atlantic Avenue</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">Boston, Massachusetts&nbsp; 02110</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">Attention:&nbsp; James Lerner, Esq.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">Telephone: (617) 574-3525</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">Telecopier: (617) 574-7607</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">Electronic Mail: jlerner@goulstonstorrs.com</TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>LENDERS:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Bank of America, N.A.<BR>
225 Franklin Street<BR>
MA1 225-02-04<BR>
Boston, MA 02110<BR>
Attn:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gerardine Hawe<BR>
Telephone: 617 346-5240<BR>
Telecopier : 617 346-4670<BR>
Electronic Mail:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;gerardine.hawe@baml.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">And</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Bank of America, N.A.<BR>
225 Franklin Street<BR>
MA1 225-02-04<BR>
Boston, MA 02110<BR>
Attn:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clare M. O&rsquo;Connor<BR>
Telephone: 617 346-0121<BR>
Telecopier : 617 346-4670<BR>
Electronic Mail:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;clare.m.o&rsquo;connor@baml.com</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%; padding-bottom: 6pt">With a copy to:</TD>
    <TD STYLE="width: 80%; padding-bottom: 6pt">Goulston &amp; Storrs, PC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">400 Atlantic Avenue</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">Boston, Massachusetts&nbsp; 02110</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">Attention:&nbsp; James Lerner, Esq.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">Telephone: (617) 574-3525</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">Telecopier: (617) 574-7607</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">Electronic Mail: jlerner@goulstonstorrs.com</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">RBS Citizens, National Association<BR>
28 State Street<BR>
Boston, MA 02108<BR>
Attn:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lisa M. Greeley<BR>
Telephone: 617 725-5602<BR>
Telecopier : 617 725-5695<BR>
Electronic Mail:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lisa.M.Greeley@rbscitizens.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">BBVA Compass<BR>
8080 N. Central Expy, Ste. 310<BR>
Dallas, Texas 75206<BR>
Attn:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Katie Morrow<BR>
Telephone: 214-360-8856<BR>
Telecopier: ___________<BR>
Electronic Mail:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Katie.morrow@bbvacompass.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">PNC Bank, National Association<BR>
1600 Market Street, 30<SUP>th</SUP> Floor<BR>
Philadelphia, Pennsylvania 19103<BR>
Attn:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Andrew D. Coler<BR>
Telephone: 215 585-6068<BR>
Telecopier: 215 585-5806<BR>
Electronic Mail:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Andrew.coler@pnc.com<BR STYLE="mso-special-character: line-break">
<BR STYLE="mso-special-character: line-break">
</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Regions Bank<BR>
3050 Peachtree Road NW, Suite 400<BR>
Atlanta, Georgia 30305<BR>
Attn:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paul E. Burgan<BR>
Telephone: 404 995-7648<BR>
Telecopier: 404 279-7475<BR>
Electronic Mail:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paul.Burgan@Regions.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">U.S. Bank National Association<BR>
One Federal Street, 9<SUP>th</SUP> Floor<BR>
Boston, Massachusetts 02110<BR>
Attn:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;David W. Heller<BR>
Telephone: 617 603.7657<BR>
Telecopier: 617 603.7645<BR>
Electronic Mail:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;dave.heller@usbank.com<BR STYLE="mso-special-character: line-break">
<BR STYLE="mso-special-character: line-break">
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Capital One, N.A.<BR>
1680 Capital One Drive, 10<SUP>th</SUP> Floor<BR>
McLean, Virginia 22102<BR>
Attn:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Frederick H. Denecke<BR>
Telephone: 703.720.6760<BR>
Telecopier: 703.720.2026<BR>
Electronic Mail:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Frederick.denecke@capitalone.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Branch Banking and Trust Company<BR>
200 W. Second Street, 16<SUP>th</SUP> Floor<BR>
Winston Salem, North Carolina 27101<BR>
Attn: Ahaz Armstrong<BR>
Telephone: 336 733-2575<BR>
Telecopier: 336 733-2740<BR>
Electronic Mail:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ahaz.armstrong@bbandt.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">TD Bank, N.A.<BR>
200 State Street, 8th Floor<BR>
Boston, Massachusetts 02109-2605<BR>
Attn:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Scott Wisdom<BR>
Telephone: 617.737.3641<BR>
Telecopier : 617.737.0238<BR>
Electronic Mail:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;scott.wisdom@td.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Bank of Montreal<BR>
115 S. LaSalle Street, 35<SUP>th</SUP> Floor-West<BR>
Chicago, Illinois 60603<BR>
Attn: Lloyd Baron<BR>
Telephone: 312.461.6812<BR>
Telecopier: 312.461.2968<BR>
Electronic Mail: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lloyd.baron@bmo.com</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B><I>SCHEDULE&nbsp;10.06(b)(v)</I></B></P>

<P STYLE="font: 10pt Times New Roman Bold,serif; margin: 0 0 24pt; text-align: center"><B>COMPETITORS OF BORROWER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in">Boston Properties, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in">Brandywine Realty Trust</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in">Brookfield Office Properties, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in">Camden Property Trust</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in">CB Richard Ellis Group, Inc</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in">CommonWealth REIT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in">Corporate Office Properties Trust</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in">Douglas Emmett, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in">DTC Real Estate</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in">Duke Realty Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in">Equity Office Management, L.L.C.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in">Equity Residential</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in">Highwoods Properties, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in">Kilroy Realty Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in">Lexington Realty Trust</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in">Liberty Property Trust</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in">Mack-Cali Realty Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in">MPG Office Trust, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in">Parkway Properties, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in">PS Business Parks, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in">Simon Property Group Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in">SL Green Realty Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in">Stifel Nicolaus &amp; Co.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in">Vornado Realty Trust</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in">Washington Real Estate Investment Trust</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in">W.P. Carey &amp; Co., LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Exhibit H<BR>
Form of Certificate to Accompany Request for Credit Extension</P>

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

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



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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 10.2</B></P>

<P STYLE="font: 45pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ISDA</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in; text-align: center"><B>International Swaps and Derivatives
Association, Inc.</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0.2in; text-align: center"><FONT STYLE="font-size: 24pt">2002
MASTER AGREEMENT</FONT></P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 30%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif">dated as of</TD>
    <TD STYLE="width: 73%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif">September 27, 2012</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1.7in 0.25in 0; text-align: center">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 42%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 7%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 51%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold">Bank of America, N.A.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">and</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold">Franklin Street Properties Corp.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in; text-align: justify">have entered and/or anticipate entering
into one or more transactions (each a &ldquo;Transaction&rdquo;) that are or will be governed by this 2002 Master Agreement, which
includes the schedule (the &ldquo;Schedule&rdquo;), and the documents and other confirming evidence (each a &ldquo;Confirmation&rdquo;)
exchanged between the parties or otherwise effective for the purpose of confirming or evidencing those Transactions. This 2002
Master Agreement and the Schedule are together referred to as this &ldquo;Master Agreement&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in; text-align: justify">Accordingly, the parties agree as follows:&#8213;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0.1in"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>1.</B></TD><TD STYLE="text-align: justify"><B>Interpretation</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in; text-align: justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Definitions</I></B>. The
terms defined in Section 14 and elsewhere in this Master Agreement will have the meanings therein specified for the purpose of
this Master Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.15in; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Inconsistency</I></B>.
In the event of any inconsistency between the provisions of the Schedule and the other provisions of this Master Agreement, the
Schedule will prevail. In the event of any inconsistency between the provisions of any Confirmation and this Master Agreement,
such Confirmation will prevail for the purpose of the relevant Transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in; text-align: justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Single Agreement.</I></B>
All Transactions are entered into in reliance on the fact that this Master Agreement and all Confirmations form a single agreement
between the parties (collectively referred to as this &ldquo;Agreement&rdquo;), and the parties would not otherwise enter into
any Transactions.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0.1in"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.</B></TD><TD STYLE="text-align: justify"><B>Obligations</B></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0.1in"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify"><B><I>General Conditions.</I></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 0.5in; text-align: justify">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each party will make each
payment or delivery specified in each Confirmation to be made by it, subject to the other provisions of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 0.5in; text-align: justify">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payments under this Agreement
will be made on the due date for value on that date in the place of the account specified in the relevant Confirmation or otherwise
pursuant to this Agreement, in freely transferable funds and in the manner customary for payments in the required currency. Where
settlement is by delivery (that is, other than by payment), such delivery will be made for receipt on the due date in the manner
customary for the relevant obligation unless otherwise specified in the relevant Confirmation or elsewhere in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 24pt 0 0; text-align: center">Copyright &copy; 2002 by International
Swaps and Derivatives Association, Inc.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each obligation of each
party under Section 2(a)(i) is subject to (1) the condition precedent that no Event of Default or Potential Event of Default with
respect to the other party has occurred and is continuing, (2) the condition precedent that no Early Termination Date in respect
of the relevant Transaction has occurred or been effectively designated and (3) each other condition specified in this Agreement
to be a condition precedent for the purpose of this Section 2(a)(iii).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Change of Account</I></B>.
Either party may change its account for receiving a payment or delivery by giving notice to the other party at least five Local
Business Days prior to the Scheduled Settlement Date for the payment or delivery to which such change applies unless such other
party gives timely notice of a reasonable objection to such change.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify"><B><I>Netting of Payments.</I></B> If on any date amounts would otherwise be payable:&#8213;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in the same currency; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 12pt 0.5in; text-align: justify">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in respect of the same
Transaction,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">by each party to the other, then, on
such date, each party&rsquo;s obligation to make payment of any such amount will be automatically satisfied and discharged and,
if the aggregate amount that would otherwise have been payable by one party exceeds the aggregate amount that would otherwise have
been payable by the other party, replaced by an obligation upon the party by which the larger aggregate amount would have been
payable to pay to the other party the excess of the larger aggregate amount over the smaller aggregate amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The parties may elect in respect of
two or more Transactions that a net amount and payment obligation will be determined in respect of all amounts payable on the same
date in the same currency in respect of those Transactions, regardless of whether such amounts are payable in respect of the same
Transaction. The election may be made in the Schedule or any Confirmation by specifying that &ldquo;Multiple Transaction Payment
Netting&rdquo; applies to the Transactions identified as being subject to the election (in which case clause (ii) above will not
apply to such Transactions). If Multiple Transaction Payment Netting is applicable to Transactions, it will apply to those Transactions
with effect from the starting date specified in the Schedule or such Confirmation, or, if a starting date is not specified in the
Schedule or such Confirmation, the starting date otherwise agreed by the parties in writing. This election may be made separately
for different groups of Transactions and will apply separately to each pairing of Offices through which the parties make and receive
payments or deliveries.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 7.4pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify"><B><I>Deduction or</I></B> <B><I>Withholding for</I></B> <B><I>Tax.</I></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Gross-Up. </I></B>All<B><I>
</I></B>payments under this Agreement will be made without any deduction or withholding for or on account of any Tax unless such
deduction or withholding is required by any applicable law, as modified by the practice of any relevant governmental revenue authority,
then in effect. If a party is so required to deduct or withhold, then that party (&ldquo;X&rdquo;) will:&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;promptly notify the other
party (&ldquo;Y&rdquo;) of such requirement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;pay to the relevant authorities
the full amount required to be deducted or withheld (including the full amount required to be deducted or withheld from any additional
amount paid by X to Y under this Section 2(d)) promptly upon the earlier of determining that such deduction or withholding is required
or receiving notice that such amount has been assessed against Y;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;promptly forward to Y an
official receipt (or a certified copy), or other documentation reasonably acceptable to Y, evidencing such payment to such authorities;
and</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 1in; text-align: justify">(4)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if such Tax is an Indemnifiable
Tax, pay to Y, in addition to the payment to which Y is otherwise entitled under this Agreement, such additional amount as is necessary
to ensure that the net amount actually received by Y (free and clear of Indemnifiable Taxes, whether assessed against X or Y) will
equal the full amount Y would have received had no such deduction or withholding been required. However, X will not be required
to pay any additional amount to Y to the extent that it would not be required to be paid but for:&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 1.5in; text-align: justify">(A)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the failure by Y to comply
with or perform any agreement contained in Section 4(a)(i), 4(a)(iii) or 4(d); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 1.5in; text-align: justify">(B)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the failure of a representation
made by Y pursuant to Section 3(f) to be accurate and true unless such failure would not have occurred but for (I) any action taken
by a taxing authority, or brought in a court of competent jurisdiction, after a Transaction is entered into (regardless of whether
such action is taken or brought with respect to a party to this Agreement) or (II) a Change in Tax Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 0.5in; text-align: justify">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Liability.</I></B>
If:&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.1in; text-align: justify">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;X is required by any applicable
law, as modified by the practice of any relevant governmental revenue authority, to make any deduction or withholding in respect
of which X would not be required to pay an additional amount to Y under Section 2(d)(i)(4);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.1in; text-align: justify">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;X does not so deduct or
withhold; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 1.1in; text-align: justify">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a liability resulting
from such Tax is assessed directly against X,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">then, except to the extent Y has
satisfied or then satisfies the liability resulting from such Tax, Y will promptly pay to X the amount of such liability (including
any related liability for interest, but including any related liability for penalties only if Y has failed to comply with or perform
any agreement contained in Section 4(a)(i), 4(a)(iii) or 4(d)).</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>3.</B></TD><TD STYLE="text-align: justify"><B>Representations</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Each party makes the representations
contained in Sections 3(a), 3(b), 3(c), 3(d), 3(e) and 3(f) and, if specified in the Schedule as applying, 3(g) to the other party
(which representations will be deemed to be repeated by each party on each date on which a Transaction is entered into and, in
the case of the representations in Section 3(f), at all times until the termination of this Agreement). If any &ldquo;Additional
Representation&rdquo; is specified in the Schedule or any Confirmation as applying, the party or parties specified for such Additional
Representation will make and, if applicable, be deemed to repeat such Additional Representation at the time or times specified
for such Additional Representation.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0.1in"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify"><B><I>Basic Representations.</I></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Status.</I></B> It
is duly organised and validly existing under the laws of the jurisdiction of its organisation or incorporation and, if relevant
under such laws, in good standing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 0.5in; text-align: justify">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Powers.</I></B>
It has the power to execute this Agreement and any other documentation relating to this Agreement to which it is a party, to deliver
this Agreement and any other documentation relating to this Agreement that it is required by this Agreement to deliver and to perform
its obligations under this Agreement and any obligations it has under any Credit Support Document to which it is a party and has
taken all necessary action to authorise such execution, delivery and performance;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 0.5in; text-align: justify">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>No Violation or
Conflict.</I></B> Such execution, delivery and performance do not violate or conflict with any law applicable to it, any provision
of its constitutional documents, any order or judgment of any court or other agency of government applicable to it or any of its
assets or any contractual restriction binding on or affecting it or any of its assets;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 0.5in; text-align: justify">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Consents.</I></B>
All governmental and other consents that are required to have been obtained by it with respect to this Agreement or any Credit
Support Document to which it is a party have been obtained and are in full force and effect and all conditions of any such consents
have been complied with; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 0.5in; text-align: justify">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Obligations Binding.</I></B>
Its obligations under this Agreement and any Credit Support Document to which it is a party constitute its legal, valid and binding
obligations, enforceable in accordance with their respective terms (subject to applicable bankruptcy, reorganisation, insolvency,
moratorium or similar laws affecting creditors&rsquo; rights generally and subject, as to enforceability, to equitable principles
of general application (regardless of whether enforcement is sought in a proceeding in equity or at law)).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Absence of Certain Events.</I></B>
No Event of Default or Potential Event of Default or, to its knowledge, Termination Event with respect to it has occurred and is
continuing and no such event or circumstance would occur as a result of its entering into or performing its obligations under this
Agreement or any Credit Support Document to which it is a party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Absence of Litigation.</I></B>
There is not pending or, to its knowledge, threatened against it, any of its Credit Support Providers or any of its applicable
Specified Entities any action, suit or proceeding at law or in equity or before any court, tribunal, governmental body, agency
or official or any arbitrator that is likely to affect the legality, validity or enforceability against it of this Agreement or
any Credit Support Document to which it is a party or its ability to perform its obligations under this Agreement or such Credit
Support Document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Accuracy of Specified Information.</I></B>
All applicable information that is furnished in writing by or on behalf of it to the other party and is identified for the purpose
of this Section 3(d) in the Schedule is, as of the date of the information, true, accurate and complete in every material respect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Payer Tax Representation.</I></B>
Each representation specified in the Schedule as being made by it for the purpose of this Section 3(e) is accurate and true.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Payee Tax Representations.</I></B>
Each representation specified in the Schedule as being made by it for the purpose of this Section 3(f) is accurate and true.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>No Agency.</I></B> It is
entering into this Agreement, including each Transaction, as principal and not as agent of any person or entity.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>4.</B></TD><TD STYLE="text-align: justify"><B>Agreements</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Each party agrees with the other that,
so long as either party has or may have any obligation under this Agreement or under any Credit Support Document to which it is
a party:&#8213;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0.1in"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify"><B><I>Furnish Specified Information.</I></B> It will deliver to the other party or, in certain
cases under clause (iii) below, to such government or taxing authority as the other party reasonably directs:&#8213;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 0.5in; text-align: justify">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any forms, documents or
certificates relating to taxation specified in the Schedule or any Confirmation;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any other documents specified
in the Schedule or any Confirmation; and</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 0.5in; text-align: justify">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;upon reasonable demand
by such other party, any form or document that may be required or reasonably requested in writing in order to allow such other
party or its Credit Support Provider to make a payment under this Agreement or any applicable Credit Support Document without any
deduction or withholding for or on account of any Tax or with such deduction or withholding at a reduced rate (so long as the completion,
execution or submission of such form or document would not materially prejudice the legal or commercial position of the party in
receipt of such demand), with any such form or document to be accurate and completed in a manner reasonably satisfactory to such
other party and to be executed and to be delivered with any reasonably required certification,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">in each case by the date specified in
the Schedule or such Confirmation or, if none is specified, as soon as reasonably practicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Maintain Authorisations.</I></B>
It will use all reasonable efforts to maintain in full force and effect all consents of any governmental or other authority that
are required to be obtained by it with respect to this Agreement or any Credit Support Document to which it is a party and will
use all reasonable efforts to obtain any that may become necessary in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Comply With Laws.</I></B>
It will comply in all material respects with all applicable laws and orders to which it may be subject if failure so to comply
would materially impair its ability to perform its obligations under this Agreement or any Credit Support Document to which it
is a party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Tax Agreement.</I></B>
It will give notice of any failure of a representation made by it under Section 3(f) to be accurate and true promptly upon learning
of such failure.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in; text-align: justify">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Payment of Stamp Tax.</I></B>
Subject to Section 11, it will pay any Stamp Tax levied or imposed upon it or in respect of its execution or performance of this
Agreement by a jurisdiction in which it is incorporated, organised, managed and controlled or considered to have its seat, or where
an Office through which it is acting for the purpose of this Agreement is located (&ldquo;Stamp Tax Jurisdiction&rdquo;), and will
indemnify the other party against any Stamp Tax levied or imposed upon the other party or in respect of the other party&rsquo;s
execution or performance of this Agreement by any such Stamp Tax Jurisdiction which is not also a Stamp Tax Jurisdiction with respect
to the other party.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>5.</B></TD><TD STYLE="text-align: justify"><B>Events of Default and Termination Events</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in; text-align: justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Events of Default.</I></B>
The occurrence at any time with respect to a party or, if applicable, any Credit Support Provider of such party or any Specified
Entity of such party of any of the following events constitutes (subject to Sections 5(c) and 6(e)(iv)) an event of default (an
&ldquo;Event of Default&rdquo;) with respect to such party:&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Failure to Pay or
Deliver.</I></B> Failure by the party to make, when due, any payment under this Agreement or delivery under Section 2(a)(i) or
9(h)(i)(2) or (4) required to be made by it if such failure is not remedied on or before the first Local Business Day in the case
of any such payment or the first Local Delivery Day in the case of any such delivery after, in each case, notice of such failure
is given to the party;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 0.5in; text-align: justify">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Breach of Agreement;
Repudiation</I></B> <B><I>of Agreement.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Failure by the party to comply
with or perform any agreement or obligation (other than an obligation to make any payment under this Agreement or delivery under
Section 2(a)(i) or 9(h)(i)(2) or (4) or to give notice of a Termination Event or any agreement or obligation under Section 4(a)(i),
4(a)(iii) or 4(d)) to be complied with or performed by the party in accordance with this Agreement if such failure is not remedied
within 30 days after notice of such failure is given to the party; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 1in; text-align: justify">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the party disaffirms, disclaims,
repudiates or rejects, in whole or in part, or challenges the validity of, this Master Agreement, any Confirmation executed and
delivered by that party or any</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">Transaction evidenced by such a
Confirmation (or such action is taken by any person or entity appointed or empowered to operate it or act on its behalf);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Credit Support
Default.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Failure by the party or any
Credit Support Provider of such party to comply with or perform any agreement or obligation to be complied with or performed by
it in accordance with any Credit Support Document if such failure is continuing after any applicable grace period has elapsed;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the expiration or termination
of such Credit Support Document or the failing or ceasing of such Credit Support Document, or any security interest granted by
such party or such Credit Support Provider to the other party pursuant to any such Credit Support Document, to be in full force
and effect for the purpose of this Agreement (in each case other than in accordance with its terms) prior to the satisfaction of
all obligations of such party under each Transaction to which such Credit Support Document relates without the written consent
of the other party; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the party or such Credit
Support Provider disaffirms, disclaims, repudiates or rejects, in whole or in part, or challenges the validity of, such Credit
Support Document (or such action is taken by any person or entity appointed or empowered to operate it or act on its behalf);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Misrepresentation.</I></B>
A representation (other than a representation under Section 3(e) or 3(f)) made or repeated or deemed to have been made or repeated
by the party or any Credit Support Provider of such party in this Agreement or any Credit Support Document proves to have been
incorrect or misleading in any material respect when made or repeated or deemed to have been made or repeated;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Default Under Specified
Transaction.</I></B> The party, any Credit Support Provider of such party or any applicable Specified Entity of such party:&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;defaults (other than by failing
to make a delivery) under a Specified Transaction or any credit support arrangement relating to a Specified Transaction and, after
giving effect to any applicable notice requirement or grace period, such default results in a liquidation of, an acceleration of
obligations under, or an early termination of, that Specified Transaction;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;defaults, after giving effect
to any applicable notice requirement or grace period, in making any payment due on the last payment or exchange date of, or any
payment on early termination of, a Specified Transaction (or, if there is no applicable notice requirement or grace period, such
default continues for at least one Local Business Day);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;defaults in making any delivery
due under (including any delivery due on the last delivery or exchange date of) a Specified Transaction or any credit support arrangement
relating to a Specified Transaction and, after giving effect to any applicable notice requirement or grace period, such default
results in a liquidation of, an acceleration of obligations under, or an early termination of, all transactions outstanding under
the documentation applicable to that Specified Transaction; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(4)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;disaffirms, disclaims, repudiates
or rejects, in whole or in part, or challenges the validity of, a Specified Transaction or any credit support arrangement relating
to a Specified Transaction that is, in either case, confirmed or evidenced by a document or other confirming evidence executed
and delivered by that party, Credit Support Provider or Specified Entity (or such action is taken by any person or entity appointed
or empowered to operate it or act on its behalf);</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 0.5in; text-align: justify">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Cross-Default.
</I></B>If &ldquo;Cross-Default&rdquo; is specified in the Schedule as applying to the party, the occurrence or existence of:&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 1in; text-align: justify">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a default, event of default
or other similar condition or event (however described) in respect of such party, any Credit Support Provider of such party or
any applicable Specified Entity of such party under one or more agreements or instruments relating to Specified Indebtedness of
any of them (individually or collectively) where the aggregate principal amount of such agreements or instruments, either alone
or together with the amount, if any, referred to in clause (2) below, is not less than the applicable Threshold Amount (as specified
in the Schedule) which has resulted in such Specified Indebtedness becoming, or becoming capable at such time of being declared,
due and payable under such agreements or instruments before it would otherwise have been due and payable; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 1in; text-align: justify">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a default by such party,
such Credit Support Provider or such Specified Entity (individually or collectively) in making one or more payments under such
agreements or instruments on the due date for payment (after giving effect to any applicable notice requirement or grace period)
in an aggregate amount, either alone or together with the amount, if any, referred to in clause (1) above, of not less than the
applicable Threshold Amount;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 0.5in; text-align: justify">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Bankruptcy.</I></B>
The party, any Credit Support Provider of such party or any applicable Specified Entity of such party:&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 1in; text-align: justify">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;is dissolved (other than
pursuant to a consolidation, amalgamation or merger); (2) becomes insolvent or is unable to pay its debts or fails or admits in
writing its inability generally to pay its debts as they become due; (3) makes a general assignment, arrangement or composition
with or for the benefit of its creditors; (4)(A) institutes or has instituted against it, by a regulator, supervisor or any similar
official with primary insolvency, rehabilitative or regulatory jurisdiction over it in the jurisdiction of its incorporation or
organisation or the jurisdiction of its head or home office, a proceeding seeking a judgment of insolvency or bankruptcy or any
other relief under any bankruptcy or insolvency law or other similar law affecting creditors&rsquo; rights, or a petition is presented
for its winding-up or liquidation by it or such regulator, supervisor or similar official, or (B) has instituted against it a proceeding
seeking a judgment of insolvency or bankruptcy or any other relief under any bankruptcy or insolvency law or other similar law
affecting creditors&rsquo; rights, or a petition is presented for its winding-up or liquidation, and such proceeding or petition
is instituted or presented by a person or entity not described in clause (A) above and either (I) results in a judgment of insolvency
or bankruptcy or the entry of an order for relief or the making of an order for its winding-up or liquidation or (II) is not dismissed,
discharged, stayed or restrained in each case within 15 days of the institution or presentation thereof; (5) has a resolution passed
for its winding-up, official management or liquidation (other than pursuant to a consolidation, amalgamation or merger); (6) seeks
or becomes subject to the appointment of an administrator, provisional liquidator, conservator, receiver, trustee, custodian or
other similar official for it or for all or substantially all its assets; (7) has a secured party take possession of all or substantially
all its assets or has a distress, execution, attachment, sequestration or other legal process levied, enforced or sued on or against
all or substantially all its assets and such secured party maintains possession, or any such process is not dismissed, discharged,
stayed or restrained, in each case within 15 days thereafter; (8) causes or is subject to any event with respect to it which, under
the applicable laws of any jurisdiction, has an analogous effect to any of the events specified in clauses (1) to (7) above (inclusive);
or (9) takes any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the foregoing
acts; or</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 0.5in; text-align: justify">(viii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Merger Without
Assumption.</I></B> The party or any Credit Support Provider of such party consolidates or amalgamates with, or merges with or
into, or transfers all or substantially all its assets to, or reorganises, reincorporates or reconstitutes into or as, another
entity and, at the time of such consolidation, amalgamation, merger, transfer, reorganisation, reincorporation or reconstitution:&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the resulting, surviving
or transferee entity fails to assume all the obligations of such party or such Credit Support Provider under this Agreement or
any Credit Support Document to which it or its predecessor was a party; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the benefits of any Credit
Support Document fail to extend (without the consent of the other party) to the performance by such resulting, surviving or transferee
entity of its obligations under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Termination Events.</I></B>
The occurrence at any time with respect to a party or, if applicable, any Credit Support Provider of such party or any Specified
Entity of such party of any event specified below constitutes (subject to Section 5(c)) an Illegality if the event is specified
in clause (i) below, a Force Majeure Event if the event is specified in clause (ii) below, a Tax Event if the event is specified
in clause (iii) below, a Tax Event Upon Merger if the event is specified in clause (iv) below, and, if specified to be applicable,
a Credit Event Upon Merger if the event is specified pursuant to clause (v) below or an Additional Termination Event if the event
is specified pursuant to clause (vi) below:&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Illegality.</I></B>
After giving effect to any applicable provision, disruption fallback or remedy specified in, or pursuant to, the relevant Confirmation
or elsewhere in this Agreement, due to an event or circumstance (other than any action taken by a party or, if applicable, any
Credit Support Provider of such party) occurring after a Transaction is entered into, it becomes unlawful under any applicable
law (including without limitation the laws of any country in which payment, delivery or compliance is required by either party
or any Credit Support Provider, as the case may be), on any day, or it would be unlawful if the relevant payment, delivery or compliance
were required on that day (in each case, other than as a result of a breach by the party of Section 4(b)):&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for the Office through which
such party (which will be the Affected Party) makes and receives payments or deliveries with respect to such Transaction to perform
any absolute or contingent obligation to make a payment or delivery in respect of such Transaction, to receive a payment or delivery
in respect of such Transaction or to comply with any other material provision of this Agreement relating to such Transaction; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for such party or any Credit
Support Provider of such party (which will be the Affected Party) to perform any absolute or contingent obligation to make a payment
or delivery which such party or Credit Support Provider has under any Credit Support Document relating to such Transaction, to
receive a payment or delivery under such Credit Support Document or to comply with any other material provision of such Credit
Support Document;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 0.5in; text-align: justify">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Force Majeure Event.</I></B>
After giving effect to any applicable provision, disruption fallback or remedy specified in, or pursuant to, the relevant Confirmation
or elsewhere in this Agreement, by reason of force majeure or act of state occurring after a Transaction is entered into, on any
day:&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 1in; text-align: justify">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the Office through which
such party (which will be the Affected Party) makes and receives payments or deliveries with respect to such Transaction is prevented
from performing any absolute or contingent obligation to make a payment or delivery in respect of such Transaction, from receiving
a payment or delivery in respect of such Transaction or from complying with any other material provision of this Agreement relating
to such Transaction (or would be so prevented if such payment, delivery or compliance were required on that day), or it becomes
impossible or</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 1in; text-align: justify">impracticable for such Office so
to perform, receive or comply (or it would be impossible or impracticable for such Office so to perform, receive or comply if such
payment, delivery or compliance were required on that day); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;such party or any Credit
Support Provider of such party (which will be the Affected Party) is prevented from performing any absolute or contingent obligation
to make a payment or delivery which such party or Credit Support Provider has under any Credit Support Document relating to such
Transaction, from receiving a payment or delivery under such Credit Support Document or from complying with any other material
provision of such Credit Support Document (or would be so prevented if such payment, delivery or compliance were required on that
day), or it becomes impossible or impracticable for such party or Credit Support Provider so to perform, receive or comply (or
it would be impossible or impracticable for such party or Credit Support Provider so to perform, receive or comply if such payment,
delivery or compliance were required on that day),</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">so long as the force majeure or
act of state is beyond the control of such Office, such party or such Credit Support Provider, as appropriate, and such Office,
party or Credit Support Provider could not, after using all reasonable efforts (which will not require such party or Credit Support
Provider to incur a loss, other than immaterial, incidental expenses), overcome such prevention, impossibility or impracticability;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Tax Event.</I></B>
Due to (1) any action taken by a taxing authority, or brought in a court of competent jurisdiction, after a Transaction is entered
into (regardless of whether such action is taken or brought with respect to a party to this Agreement) or (2) a Change in Tax Law,
the party (which will be the Affected Party) will, or there is a substantial likelihood that it will, on the next succeeding Scheduled
Settlement Date (A) be required to pay to the other party an additional amount in respect of an Indemnifiable Tax under Section
2(d)(i)(4) (except in respect of interest under Section 9(h)) or (B) receive a payment from which an amount is required to be deducted
or withheld for or on account of a Tax (except in respect of interest under Section 9(h)) and no additional amount is required
to be paid in respect of such Tax under Section 2(d)(i)(4) (other than by reason of Section 2(d)(i)(4)(A) or (B));</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Tax Event Upon Merger.</I></B>
The party (the &ldquo;Burdened Party&rdquo;) on the next succeeding Scheduled Settlement Date will either (1) be required to pay
an additional amount in respect of an Indemnifiable Tax under Section 2(d)(i)(4) (except in respect of interest under Section 9(h))
or (2) receive a payment from which an amount has been deducted or withheld for or on account of any Tax in respect of which the
other party is not required to pay an additional amount (other than by reason of Section 2(d)(i)(4)(A) or (B)), in either case
as a result of a party consolidating or amalgamating with, or merging with or into, or transferring all or substantially all its
assets (or any substantial part of the assets comprising the business conducted by it as of the date of this Master Agreement)
to, or reorganising, reincorporating or reconstituting into or as, another entity (which will be the Affected Party) where such
action does not constitute a Merger Without Assumption;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Credit Event Upon
Merger.</I></B> If &ldquo;Credit Event Upon Merger&rdquo; is specified in the Schedule as applying to the party, a Designated Event
(as defined below) occurs with respect to such party, any Credit Support Provider of such party or any applicable Specified Entity
of such party (in each case, &ldquo;X&rdquo;) and such Designated Event does not constitute a Merger Without Assumption, and the
creditworthiness of X or, if applicable, the successor, surviving or transferee entity of X, after taking into account any applicable
Credit Support Document, is materially weaker immediately after the occurrence of such Designated Event than that of X immediately
prior to the occurrence of such Designated Event (and, in any such event, such party or its successor, surviving or transferee
entity, as appropriate, will be the Affected Party). A &ldquo;Designated Event&rdquo; with respect to X means that:&#8213;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 1in; text-align: justify">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;X consolidates or amalgamates
with, or merges with or into, or transfers all or substantially all its assets (or any substantial part of the assets comprising
the business conducted by X as of the date of this Master Agreement) to, or reorganises, reincorporates or reconstitutes into or
as, another entity;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any person, related group
of persons or entity acquires directly or indirectly the beneficial ownership of (A) equity securities having the power to elect
a majority of the board of directors (or its equivalent) of X or (B) any other ownership interest enabling it to exercise control
of X; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 1in; text-align: justify">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;X effects any substantial
change in its capital structure by means of the issuance, incurrence or guarantee of debt or the issuance of (A) preferred stock
or other securities convertible into or exchangeable for debt or preferred stock or (B) in the case of entities other than corporations,
any other form of ownership interest; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Additional Termination
Event.</I></B> If any &ldquo;Additional Termination Event&rdquo; is specified in the Schedule or any Confirmation as applying,
the occurrence of such event (and, in such event, the Affected Party or Affected Parties will be as specified for such Additional
Termination Event in the Schedule or such Confirmation).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Hierarchy of Events.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;An event or circumstance
that constitutes or gives rise to an Illegality or a Force Majeure Event will not, for so long as that is the case, also constitute
or give rise to an Event of Default under Section 5(a)(i), 5(a)(ii)(1) or 5(a)(iii)(1) insofar as such event or circumstance relates
to the failure to make any payment or delivery or a failure to comply with any other material provision of this Agreement or a
Credit Support Document, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except in circumstances
contemplated by clause (i) above, if an event or circumstance which would otherwise constitute or give rise to an Illegality or
a Force Majeure Event also constitutes an Event of Default or any other Termination Event, it will be treated as an Event of Default
or such other Termination Event, as the case may be, and will not constitute or give rise to an Illegality or a Force Majeure Event.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If an event or circumstance
which would otherwise constitute or give rise to a Force Majeure Event also constitutes an Illegality, it will be treated as an
Illegality, except as described in clause (ii) above, and not a Force Majeure Event.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Deferral of Payments and
Deliveries During Waiting Period.</I></B> If an Illegality or a Force Majeure Event has occurred and is continuing with respect
to a Transaction, each payment or delivery which would otherwise be required to be made under that Transaction will be deferred
to, and will not be due until:&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the first Local Business
Day or, in the case of a delivery, the first Local Delivery Day (or the first day that would have been a Local Business Day or
Local Delivery Day, as appropriate, but for the occurrence of the event or circumstance constituting or giving rise to that Illegality
or Force Majeure Event) following the end of any applicable Waiting Period in respect of that Illegality or Force Majeure Event,
as the case may be; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if earlier, the date on
which the event or circumstance constituting or giving rise to that Illegality or Force Majeure Event ceases to exist or, if such
date is not a Local Business Day or, in the case of a delivery, a Local Delivery Day, the first following day that is a Local Business
Day or Local Delivery Day, as appropriate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in; text-align: justify">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Inability of Head or Home
Office to Perform Obligations of Branch.</I></B> If (i) an Illegality or a Force Majeure Event occurs under Section 5(b)(i)(1)
or 5(b)(ii)(1) and the relevant Office is not the Affected Party&rsquo;s head or home office, (ii) Section 10(a) applies, (iii)
the other party seeks performance of the relevant obligation or compliance with the relevant provision by the Affected Party&rsquo;s
head or home office and (iv) the Affected Party&rsquo;s head or home office fails so to perform or comply due to the occurrence
of an event or circumstance which would, if that head or home office were the Office through which the Affected Party makes and
receives payments and deliveries with respect to the relevant Transaction, constitute or give rise to an Illegality or a Force
Majeure Event, and such failure would otherwise constitute an Event of Default under Section 5(a)(i)or 5(a)(iii)(1) with respect
to such party, then, for so long as the relevant event or circumstance continues to exist with respect to both the Office referred
to in Section 5(b)(i)(1) or 5(b)(ii)(1), as the case may be, and the Affected Party&rsquo;s head or home office, such failure will
not constitute an Event of Default under Section 5(a)(i) or 5(a)(iii)(1).</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>6.</B></TD><TD STYLE="text-align: justify"><B>Early Termination; Close-Out Netting</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Right to Terminate Following
Event of Default.</I></B> If at any time an Event of Default with respect to a party (the &ldquo;Defaulting Party&rdquo;) has occurred
and is then continuing, the other party (the &ldquo;Non-defaulting Party&rdquo;) may, by not more than 20 days notice to the Defaulting
Party specifying the relevant Event of Default, designate a day not earlier than the day such notice is effective as an Early Termination
Date in respect of all outstanding Transactions. If, however, &ldquo;Automatic Early Termination&rdquo; is specified in the Schedule
as applying to a party, then an Early Termination Date in respect of all outstanding Transactions will occur immediately upon the
occurrence with respect to such party of an Event of Default specified in Section 5(a)(vii)(1), (3), (5), (6) or, to the extent
analogous thereto, (8), and as of the time immediately preceding the institution of the relevant proceeding or the presentation
of the relevant petition upon the occurrence with respect to such party of an Event of Default specified in Section 5(a)(vii)(4)
or, to the extent analogous thereto, (8).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Right to Terminate Following
Termination Event.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Notice.</I></B> If
a Termination Event other than a Force Majeure Event occurs, an Affected Party will, promptly upon becoming aware of it, notify
the other party, specifying the nature of that Termination Event and each Affected Transaction, and will also give the other party
such other information about that Termination Event as the other party may reasonably require. If a Force Majeure Event occurs,
each party will, promptly upon becoming aware of it, use all reasonable efforts to notify the other party, specifying the nature
of that Force Majeure Event, and will also give the other party such other information about that Force Majeure Event as the other
party may reasonably require.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Transfer to Avoid
Termination Event.</I></B> If a Tax Event occurs and there is only one Affected Party, or if a Tax Event Upon Merger occurs and
the Burdened Party is the Affected Party, the Affected Party will, as a condition to its right to designate an Early Termination
Date under Section 6(b)(iv), use all reasonable efforts (which will not require such party to incur a loss, other than immaterial,
incidental expenses) to transfer within 20 days after it gives notice under Section 6(b)(i) all its rights and obligations under
this Agreement in respect of the Affected Transactions to another of its Offices or Affiliates so that such Termination Event ceases
to exist.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 0.5in; text-align: justify">If the Affected Party is not
able to make such a transfer it will give notice to the other party to that effect within such 20 day period, whereupon the other
party may effect such a transfer within 30 days after the notice is given under Section 6(b)(i).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 0.5in; text-align: justify">Any such transfer by a party
under this Section 6(b)(ii) will be subject to and conditional upon the prior written consent of the other party, which consent
will not be withheld if such other party&rsquo;s policies in effect at such time would permit it to enter into transactions with
the transferee on the terms proposed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 0.5in; text-align: justify">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Two Affected Parties.</I></B>
If a Tax Event occurs and there are two Affected Parties, each party will use all reasonable efforts to reach agreement within
30 days after notice of such occurrence is given under Section 6(b)(i) to avoid that Termination Event.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 0.5in; text-align: justify">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Right to Terminate.</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">If:&#8213;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-align: justify">(A)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a transfer under Section
6(b)(ii) or an agreement under Section 6(b)(iii), as the case may be, has not been effected with respect to all Affected Transactions
within 30 days after an Affected Party gives notice under Section 6(b)(i); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-align: justify">(B)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a Credit Event Upon Merger
or an Additional Termination Event occurs, or a Tax Event Upon Merger occurs and the Burdened Party is not the Affected Party,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">the Burdened Party in the case of
a Tax Event Upon Merger, any Affected Party in the case of a Tax Event or an Additional Termination Event if there are two Affected
Parties, or the Non-affected Party in the case of a Credit Event Upon Merger or an Additional Termination Event if there is only
one Affected Party may, if the relevant Termination Event is then continuing, by not more than 20 days notice to the other party,
designate a day not earlier than the day such notice is effective as an Early Termination Date in respect of all Affected Transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If at any time an Illegality
or a Force Majeure Event has occurred and is then continuing and any applicable Waiting Period has expired:&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-align: justify">(A)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to clause (B) below,
either party may, by not more than 20 days notice to the other party, designate (I) a day not earlier than the day on which such
notice becomes effective as an Early Termination Date in respect of all Affected Transactions or (II) by specifying in that notice
the Affected Transactions in respect of which it is designating the relevant day as an Early Termination Date, a day not earlier
than two Local Business Days following the day on which such notice becomes effective as an Early Termination Date in respect of
less than all Affected Transactions. Upon receipt of a notice designating an Early Termination Date in respect of less than all
Affected Transactions, the other party may, by notice to the designating party, if such notice is effective on or before the day
so designated, designate that same day as an Early Termination Date in respect of any or all other Affected Transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-align: justify">(B)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;An Affected Party (if the
Illegality or Force Majeure Event relates to performance by such party or any Credit Support Provider of such party of an obligation
to make any payment or delivery under, or to compliance with any other material provision of, the relevant Credit Support Document)
will only have the right to designate an Early Termination Date under Section 6(b)(iv)(2)(A) as a result of an Illegality under
Section 5(b)(i)(2) or a Force Majeure Event under Section 5(b)(ii)(2) following the prior designation by the other party of an
Early Termination Date, pursuant to Section 6(b)(iv)(2)(A), in respect of less than all Affected Transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in; text-align: justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Effect of Designation.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If notice designating an
Early Termination Date is given under Section 6(a) or 6(b), the Early Termination Date will occur on the date so designated, whether
or not the relevant Event of Default or Termination Event is then continuing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon the occurrence or
effective designation of an Early Termination Date, no further payments or deliveries under Section 2(a)(i) or 9(h)(i) in respect
of the Terminated Transactions will be required to be made, but without prejudice to the other provisions of this Agreement. The
amount, if any, payable in respect of an Early Termination Date will be determined pursuant to Sections 6(e) and 9(h)(ii).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Calculations; Payment Date</I></B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Statement. </I></B>On
or as soon as reasonably practicable following the occurrence of an Early Termination Date, each party will make the calculations
on its part, if any, contemplated by Section 6(e) and will provide to the other party a statement (1) showing, in reasonable detail,
such calculations (including any quotations, market data or information from internal sources used in making such calculations),
(2) specifying (except where there are two Affected Parties) any Early Termination Amount payable and (3) giving details of the
relevant account to which any amount payable to it is to be paid. In the absence of written confirmation from the source of a quotation
or market data obtained in determining a Close-out Amount, the records of the party obtaining such quotation or market data will
be conclusive evidence of the existence and accuracy of such quotation or market data.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Payment Date. </I></B>An
Early Termination Amount due in respect of any Early Termination Date will, together with any amount of interest payable pursuant
to Section 9(h)(ii)(2), be payable (1) on the day on which notice of the amount payable is effective in the case of an Early Termination
Date which is designated or occurs as a result of an Event of Default and (2) on the day which is two Local Business Days after
the day on which notice of the amount payable is effective (or, if there are two Affected Parties, after the day on which the statement
provided pursuant to clause (i) above by the second party to provide such a statement is effective) in the case of an Early Termination
Date which is designated as a result of a Termination Event.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Payments on Early Termination.</I></B>
If an Early Termination Date occurs, the amount, if any, payable in respect of that Early Termination Date (the &ldquo;Early Termination
Amount&rdquo;) will be determined pursuant to this Section 6(e) and will be subject to Section 6(f).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Events of Default.
</I></B>If the Early Termination Date results from an Event of Default, the Early Termination Amount will be an amount equal to
(1) the sum of (A) the Termination Currency Equivalent of the Close-out Amount or Close-out Amounts (whether positive or negative)
determined by the Non-defaulting Party for each Terminated Transaction or group of Terminated Transactions, as the case may be,
and (B) the Termination Currency Equivalent of the Unpaid Amounts owing to the Non-defaulting Party less (2) the Termination Currency
Equivalent of the Unpaid Amounts owing to the Defaulting Party. If the Early Termination Amount is a positive number, the Defaulting
Party will pay it to the Non-defaulting Party; if it is a negative number, the Non-defaulting Party will pay the absolute value
of the Early Termination Amount to the Defaulting Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 12pt; text-align: justify">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Termination Events.
</I></B>If the Early Termination Date results from a Termination Event:&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>One Affected Party.<B>
</B></I>Subject to clause (3) below, if there is one Affected Party, the Early Termination Amount will be determined in accordance
with Section 6(e)(i), except that references to the Defaulting Party and to the Non-defaulting Party will be deemed to be references
to the Affected Party and to the Non-affected Party, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Two Affected Parties.<B>
</B></I>Subject to clause (3) below, if there are two Affected Parties, each party will determine an amount equal to the Termination
Currency Equivalent of the sum of the Close-out Amount or Close-out Amounts (whether positive or negative) for each Terminated
Transaction or group of Terminated Transactions, as the case may be, and the Early Termination Amount will be an amount equal to
(A) the sum of (I) one-half of the difference between the higher amount so determined (by party &ldquo;X&rdquo;) and the lower
amount so determined (by party &ldquo;Y&rdquo;) and (II) the Termination Currency Equivalent of the Unpaid Amounts owing to X less
(B) the Termination Currency Equivalent of the Unpaid Amounts owing to Y. If the Early Termination Amount is a positive number,
Y will pay it to X; if it is a negative number, X will pay the absolute value of the Early Termination Amount to Y.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 1in; text-align: justify">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Mid-Market Events.</I>
If that Termination Event is an Illegality or a Force Majeure Event, then the Early Termination Amount will be determined in accordance
with clause (1) or (2) above, as appropriate, except that, for the purpose of determining a Close-out Amount or Close-out Amounts,
the Determining Party will:&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 1.5in; text-align: justify">(A)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if obtaining quotations
from one or more third parties (or from any of the Determining Party&rsquo;s Affiliates), ask each third party or Affiliate (I)
not to take account of the current creditworthiness of the Determining Party or any existing Credit Support Document and (II) to
provide mid-market quotations; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 1.5in; text-align: justify">(B)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in any other case, use
mid-market values without regard to the creditworthiness of the Determining Party.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 12pt; text-align: justify">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Adjustment for Bankruptcy.</I></B>
In circumstances where an Early Termination Date occurs because Automatic Early Termination applies in respect of a party, the
Early Termination Amount will be subject to such adjustments as are appropriate and permitted by applicable law to reflect any
payments or deliveries made by one party to the other under this Agreement (and retained by such other party) during the period
from the relevant Early Termination Date to the date for payment determined under Section 6(d)(ii).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 12pt; text-align: justify">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Adjustment for Illegality
or Force Majeure Event.</I></B> The failure by a party or any Credit Support Provider of such party to pay, when due, any Early
Termination Amount will not constitute an Event of Default under Section 5(a)(i) or 5(a)(iii)(1) if such failure is due to the
occurrence of an event or circumstance which would, if it occurred with respect to payment, delivery or compliance related to a
Transaction, constitute or give rise to an Illegality or a Force Majeure Event. Such amount will (1) accrue interest and otherwise
be treated as an Unpaid Amount owing to the other party if subsequently an Early Termination Date results from an Event of Default,
a Credit Event Upon Merger or an Additional Termination Event in respect of which all outstanding Transactions are Affected Transactions
and (2) otherwise accrue interest in accordance with Section 9(h)(ii)(2).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 12pt; text-align: justify">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Pre-Estimate.</I></B>
The parties agree that an amount recoverable under this Section 6(e) is a reasonable pre-estimate of loss and not a penalty. Such
amount is payable for the loss of bargain and the loss of protection against future risks, and, except as otherwise provided in
this Agreement, neither party will be entitled to recover any additional damages as a consequence of the termination of the Terminated
Transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Set-Off.</I></B> Any Early
Termination Amount payable to one party (the &ldquo;Payee&rdquo;) by the other party (the &ldquo;Payer&rdquo;), in circumstances
where there is a Defaulting Party or where there is one Affected Party in the case where either a Credit Event Upon Merger has
occurred or any other Termination Event in respect of which all outstanding Transactions are Affected Transactions has occurred,
will, at the option of the Non-defaulting Party or the Non-affected Party, as the case may be (&ldquo;X&rdquo;) (and without prior
notice to the Defaulting Party or the Affected Party, as the case may be), be reduced by its set-off against any other amounts
(&ldquo;Other Amounts&rdquo;) payable by the Payee to the Payer (whether or not arising under this Agreement, matured or contingent
and irrespective of the currency, place of payment or place of booking of the obligation). To the extent that any Other Amounts
are so set off, those Other Amounts will be discharged promptly and in all respects. X will give notice to the other party of any
set-off effected under this Section 6(f).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">For this purpose, either the Early Termination
Amount or the Other Amounts (or the relevant portion of such amounts) may be converted by X into the currency in which the other
is denominated at the rate of exchange at which such party would be able, in good faith and using commercially reasonable procedures,
to purchase the relevant amount of such currency.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in; text-align: justify">If an obligation is unascertained,
X may in good faith estimate that obligation and set off in respect of the estimate, subject to the relevant party accounting to
the other when the obligation is ascertained.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Nothing in this Section 6(f) will be
effective to create a charge or other security interest. This Section 6(f) will be without prejudice and in addition to any right
of set-off, offset, combination of accounts, lien, right of retention or withholding or similar right or requirement to which any
party is at any time otherwise entitled or subject (whether by operation of law, contract or otherwise).</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>7.</B></TD><TD STYLE="text-align: justify"><B>Transfer</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Subject to Section 6(b)(ii) and to the
extent permitted by applicable law, neither this Agreement nor any interest or obligation in or under this Agreement may be transferred
(whether by way of security or otherwise) by either party without the prior written consent of the other party, except that:&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a party may make such a transfer
of this Agreement pursuant to a consolidation or amalgamation with, or merger with or into, or transfer of all or substantially
all its assets to, another entity (but without prejudice to any other right or remedy under this Agreement); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a party may make such a transfer
of all or any part of its interest in any Early Termination Amount payable to it by a Defaulting Party, together with any amounts
payable on or with respect to that interest and any other rights associated with that interest pursuant to Sections 8, 9(h) and
11.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Any purported transfer that is not in
compliance with this Section 7 will be void.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>8.</B></TD><TD STYLE="text-align: justify"><B>Contractual Currency</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Payment in the Contractual
Currency.</I></B> Each payment under this Agreement will be made in the relevant currency specified in this Agreement for that
payment (the &ldquo;Contractual Currency&rdquo;). To the extent permitted by applicable law, any obligation to make payments under
this Agreement in the Contractual Currency will not be discharged or satisfied by any tender in any currency other than the Contractual
Currency, except to the extent such tender results in the actual receipt by the party to which payment is owed, acting in good
faith and using commercially reasonable procedures in converting the currency so tendered into the Contractual Currency, of the
full amount in the Contractual Currency of all amounts payable in respect of this Agreement. If for any reason the amount in the
Contractual Currency so received falls short of the amount in the Contractual Currency payable in respect of this Agreement, the
party required to make the payment will, to the extent permitted by applicable law, immediately pay such additional amount in the
Contractual Currency as may be necessary to compensate for the shortfall. If for any reason the amount in the Contractual Currency
so received exceeds the amount in the Contractual Currency payable in respect of this Agreement, the party receiving the payment
will refund promptly the amount of such excess.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Judgments.</I></B> To the
extent permitted by applicable law, if any judgment or order expressed in a currency other than the Contractual Currency is rendered
(i) for the payment of any amount owing in respect of this Agreement, (ii) for the payment of any amount relating to any early
termination in respect of this Agreement or (iii) in respect of a judgment or order of another court for the payment of any amount
described in clause (i) or (ii) above, the party seeking recovery, after recovery in full of the aggregate amount to which such
party is entitled pursuant to the judgment or order, will be entitled to receive immediately from the other party the amount of
any shortfall of the Contractual Currency received by such party as a consequence of sums paid in such other currency and will
refund promptly to the other party any excess of the Contractual Currency received by such party as a consequence of sums paid
in such other currency if such shortfall or such excess arises or results from any variation between the rate of exchange at which
the Contractual Currency is converted into the currency of the judgment or order for the purpose of such judgment or order and
the rate of exchange at which such party is able, acting in good faith and using</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.15in; text-align: justify">commercially reasonable procedures
in converting the currency received into the Contractual Currency, to purchase the Contractual Currency with the amount of the
currency of the judgment or order actually received by such party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.15in; text-align: justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Separate Indemnities.</I></B>
To the extent permitted by applicable law, the indemnities in this Section 8 constitute separate and independent obligations from
the other obligations in this Agreement, will be enforceable as separate and independent causes of action, will apply notwithstanding
any indulgence granted by the party to which any payment is owed and will not be affected by judgment being obtained or claim or
proof being made for any other sums payable in respect of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.15in; text-align: justify">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Evidence of Loss.</I></B>
For the purpose of this Section 8, it will be sufficient for a party to demonstrate that it would have suffered a loss had an actual
exchange or purchase been made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Entire Agreement. </I></B>This
Agreement constitutes the entire agreement and understanding of the parties with respect to its subject matter. Each of the parties
acknowledges that in entering into this Agreement it has not relied on any oral or written representation, warranty or other assurance
(except as provided for or referred to in this Agreement) and waives all rights and remedies which might otherwise be available
to it in respect thereof, except that nothing in this Agreement will limit or exclude any liability of a party for fraud.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Amendments. </I></B>An
amendment, modification or waiver in respect of this Agreement will only be effective if in writing (including a writing evidenced
by a facsimile transmission) and executed by each of the parties or confirmed by an exchange of telexes or by an exchange of electronic
messages on an electronic messaging system.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Survival of Obligations.
</I></B>Without prejudice to Sections 2(a)(iii) and 6(c)(ii), the obligations of the parties under this Agreement will survive
the termination of any Transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Remedies Cumulative. </I></B>Except
as provided in this Agreement, the rights, powers, remedies and privileges provided in this Agreement are cumulative and not exclusive
of any rights, powers, remedies and privileges provided by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Counterparts and</I></B>
<B><I>Confirmations</I></B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Agreement (and each
amendment, modification and waiver in respect of it) may be executed and delivered in counterparts (including by facsimile transmission
and by electronic messaging system), each of which will be deemed an original.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The parties intend that
they are legally bound by the terms of each Transaction from the moment they agree to those terms (whether orally or otherwise).
A Confirmation will be entered into as soon as practicable and may be executed and delivered in counterparts (including by facsimile
transmission) or be created by an exchange of telexes, by an exchange of electronic messages on an electronic messaging system
or by an exchange of e-mails, which in each case will be sufficient for all purposes to evidence a binding supplement to this Agreement.
The parties will specify therein or through another effective means that any such counterpart, telex, electronic message or e-mail
constitutes a Confirmation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>No Waiver of Rights.</I></B>
A failure or delay in exercising any right, power or privilege in respect of this Agreement will not be presumed to operate as
a waiver, and a single or partial exercise of any right, power or privilege will not be presumed to preclude any subsequent or
further exercise, of that right, power or privilege or the exercise of any other right, power or privilege.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Headings.</I></B> The headings
used in this Agreement are for convenience of reference only and are not to affect the construction of or to be taken into consideration
in interpreting this Agreement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Interest and Compensation.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to Early Termination.
Prior to the occurrence or effective designation of an Early Termination Date in respect of the relevant Transaction:&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Interest on Defaulted
Payments.<B> </B></I>If a party defaults in the performance of any payment obligation, it will, to the extent permitted by applicable
law and subject to Section 6(c), pay interest (before as well as after judgment) on the overdue amount to the other party on demand
in the same currency as the overdue amount, for the period from (and including) the original due date for payment to (but excluding)
the date of actual payment (and excluding any period in respect of which interest or compensation in respect of the overdue amount
is due pursuant to clause (3)(B) or (C) below), at the Default Rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Compensation for Defaulted
Deliveries<B>. </B></I>If a party defaults in the performance of any obligation required to be settled by delivery, it will on
demand (A) compensate the other party to the extent provided for in the relevant Confirmation or elsewhere in this Agreement and
(B) unless otherwise provided in the relevant Confirmation or elsewhere in this Agreement, to the extent permitted by applicable
law and subject to Section 6(c), pay to the other party interest (before as well as after judgment) on an amount equal to the fair
market value of that which was required to be delivered in the same currency as that amount, for the period from (and including)
the originally scheduled date for delivery to (but excluding) the date of actual delivery (and excluding any period in respect
of which interest or compensation in respect of that amount is due pursuant to clause (4) below), at the Default Rate. The fair
market value of any obligation referred to above will be determined as of the originally scheduled date for delivery, in good faith
and using commercially reasonable procedures, by the party that was entitled to take delivery.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 1in; text-align: justify">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Interest on Deferred
Payments</I>. If:&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-align: justify">(A)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a party does not pay any
amount that, but for Section 2(a)(iii), would have been payable, it will, to the extent permitted by applicable law and subject
to Section 6(c) and clauses (B) and (C) below, pay interest (before as well as after judgment) on that amount to the other party
on demand (after such amount becomes payable) in the same currency as that amount, for the period from (and including) the date
the amount would, but for Section 2(a)(iii), have been payable to (but excluding) the date the amount actually becomes payable,
at the Applicable Deferral Rate;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-align: justify">(B)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a payment is deferred pursuant
to Section 5(d), the party which would otherwise have been required to make that payment will, to the extent permitted by applicable
law, subject to Section 6(c) and for so long as no Event of Default or Potential Event of Default with respect to that party has
occurred and is continuing, pay interest (before as well as after judgment) on the amount of the deferred payment to the other
party on demand (after such amount becomes payable) in the same currency as the deferred payment, for the period from (and including)
the date the amount would, but for Section 5(d), have been payable to (but excluding) the earlier of the date the payment is no
longer deferred pursuant to Section 5(d) and the date during the deferral period upon which an Event of Default or Potential Event
of Default with respect to that party occurs, at the Applicable Deferral Rate; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-align: justify">(C)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a party fails to make any
payment due to the occurrence of an Illegality or a Force Majeure Event (after giving effect to any deferral period contemplated
by clause (B) above), it will, to the extent permitted by applicable law, subject to Section 6(c) and for so long as the event
or circumstance giving rise to that Illegality or Force Majeure Event</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 1.5in; text-align: justify">continues and no Event of Default
or Potential Event of Default with respect to that party has occurred and is continuing, pay interest (before as well as after
judgment) on the overdue amount to the other party on demand in the same currency as the overdue amount, for the period from (and
including) the date the party fails to make the payment due to the occurrence of the relevant Illegality or Force Majeure Event
(or, if later, the date the payment is no longer deferred pursuant to Section 5(d)) to (but excluding) the earlier of the date
the event or circumstance giving rise to that Illegality or Force Majeure Event ceases to exist and the date during the period
upon which an Event of Default or Potential Event of Default with respect to that party occurs (and excluding any period in respect
of which interest or compensation in respect of the overdue amount is due pursuant to clause (B) above), at the Applicable Deferral
Rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(4)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Compensation for Deferred
Deliveries.</I> If:&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-align: justify">(A)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a party does not perform
any obligation that, but for Section 2(a)(iii), would have been required to be settled by delivery;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-align: justify">(B)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a delivery is deferred
pursuant to Section 5(d); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-align: justify">(C)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a party fails to make a
delivery due to the occurrence of an Illegality or a Force Majeure Event at a time when any applicable Waiting Period has expired,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">the party required (or that would
otherwise have been required) to make the delivery will, to the extent permitted by applicable law and subject to Section 6(c),
compensate and pay interest to the other party on demand (after, in the case of clauses (A) and (B) above, such delivery is required)
if and to the extent provided for in the relevant Confirmation or elsewhere in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Early Termination.</I></B>
Upon the occurrence or effective designation of an Early Termination Date in respect of a Transaction:&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Unpaid Amounts.</I> For
the purpose of determining an Unpaid Amount in respect of the relevant Transaction, and to the extent permitted by applicable law,
interest will accrue on the amount of any payment obligation or the amount equal to the fair market value of any obligation required
to be settled by delivery included in such determination in the same currency as that amount, for the period from (and including)
the date the relevant obligation was (or would have been but for Section 2(a)(iii) or 5(d)) required to have been performed to
(but excluding) the relevant Early Termination Date, at the Applicable Close-out Rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Interest on Early Termination
Amounts.</I> If an Early Termination Amount is due in respect of such Early Termination Date, that amount will, to the extent permitted
by applicable law, be paid together with interest (before as well as after judgment) on that amount in the Termination Currency,
for the period from (and including) such Early Termination Date to (but excluding) the date the amount is paid, at the Applicable
Close-out Rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 0.5in; text-align: justify">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Interest Calculation.</I></B>
Any interest pursuant to this Section 9(h) will be calculated on the basis of daily compounding and the actual number of days elapsed.</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>10.</B></TD><TD STYLE="text-align: justify"><B>Offices; Multibranch Parties</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If Section 10(a) is specified
in the Schedule as applying, each party that enters into a Transaction through an Office other than its head or home office represents
to and agrees with the other party that, notwithstanding the place of booking or its jurisdiction of incorporation or organisation,
its obligations are the same in terms of recourse against it as if it had entered into the Transaction through its head or home
office, except that a party will not have recourse to the head or home office of the other party in respect of any payment or delivery
deferred pursuant to Section 5(d) for so long as the payment or delivery is so deferred. This representation and agreement will
be deemed to be repeated by each party on each date on which the parties enter into a Transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If a party is specified as a
Multibranch Party in the Schedule, such party may, subject to clause (c) below, enter into a Transaction through, book a Transaction
in and make and receive payments and deliveries with respect to a Transaction through any Office listed in respect of that party
in the Schedule (but not any other Office unless otherwise agreed by the parties in writing).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Office through which a party
enters into a Transaction will be the Office specified for that party in the relevant Confirmation or as otherwise agreed by the
parties in writing, and, if an Office for that party is not specified in the Confirmation or otherwise agreed by the parties in
writing, its head or home office. Unless the parties otherwise agree in writing, the Office through which a party enters into a
Transaction will also be the Office in which it books the Transaction and the Office through which it makes and receives payments
and deliveries with respect to the Transaction. Subject to Section 6(b)(ii), neither party may change the Office in which it books
the Transaction or the Office through which it makes and receives payments or deliveries with respect to a Transaction without
the prior written consent of the other party.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>11.</B></TD><TD STYLE="text-align: justify"><B>Expenses</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">A Defaulting Party will on demand indemnify
and hold harmless the other party for and against all reasonable out-of-pocket expenses, including legal fees, execution fees and
Stamp Tax, incurred by such other party by reason of the enforcement and protection of its rights under this Agreement or any Credit
Support Document to which the Defaulting Party is a party or by reason of the early termination of any Transaction, including,
but not limited to, costs of collection.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>12.</B></TD><TD STYLE="text-align: justify"><B>Notices</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Effectiveness. </I></B>Any
notice or other communication in respect of this Agreement may be given in any manner described below (except that a notice or
other communication under Section 5 or 6 may not be given by electronic messaging system or e-mail) to the address or number or
in accordance with the electronic messaging system or e-mail details provided (see the Schedule) and will be deemed effective as
indicated:&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if in writing and delivered
in person or by courier, on the date it is delivered;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if sent by telex, on the
date the recipient&rsquo;s answerback is received;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if sent by facsimile
transmission, on the date it is received by a responsible employee of the recipient in legible form (it being agreed that the burden
of proving receipt will be on the sender and will not be met by a transmission report generated by the sender&rsquo;s facsimile
machine);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if sent by certified or
registered mail (airmail, if overseas) or the equivalent (return receipt requested), on the date it is delivered or its delivery
is attempted;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if sent by electronic messaging
system, on the date it is received; or</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 0.5in; text-align: justify">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if sent by e-mail, on
the date it is delivered,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">unless the date of that delivery (or
attempted delivery) or that receipt, as applicable, is not a Local Business Day or that communication is delivered (or attempted)
or received, as applicable, after the close of business on a Local Business Day, in which case that communication will be deemed
given and effective on the first following day that is a Local Business Day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Change of Details.</I></B>
Either party may by notice to the other change the address, telex or facsimile number or electronic messaging system or e-mail
details at which notices or other communications are to be given to it.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>13.</B></TD><TD STYLE="text-align: justify"><B>Governing Law and Jurisdiction</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Governing Law.</I></B>
This Agreement will be governed by and construed in accordance with the law specified in the Schedule.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Jurisdiction.</I></B> With
respect to any suit, action or proceedings relating to any dispute arising out of or in connection with this Agreement (&ldquo;Proceedings&rdquo;),
each party irrevocably:&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;submits:&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if this Agreement is expressed
to be governed by English law, to (A) the non-exclusive jurisdiction of the English courts if the Proceedings do not involve a
Convention Court and (B) the exclusive jurisdiction of the English courts if the Proceedings do involve a Convention Court; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if this Agreement is expressed
to be governed by the laws of the State of New York, to the non-exclusive jurisdiction of the courts of the State of New York and
the United States District Court located in the Borough of Manhattan in New York City;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;waives any objection which
it may have at any time to the laying of venue of any Proceedings brought in any such court, waives any claim that such Proceedings
have been brought in an inconvenient forum and further waives the right to object, with respect to such Proceedings, that such
court does not have any jurisdiction over such party; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;agrees, to the extent
permitted by applicable law, that the bringing of Proceedings in any one or more jurisdictions will not preclude the bringing of
Proceedings in any other jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Service of Process.</I></B>
Each party irrevocably appoints the Process Agent, if any, specified opposite its name in the Schedule to receive, for it and on
its behalf, service of process in any Proceedings. If for any reason any party&rsquo;s Process Agent is unable to act as such,
such party will promptly notify the other party and within 30 days appoint a substitute process agent acceptable to the other party.
The parties irrevocably consent to service of process given in the manner provided for notices in Section 12(a)(i), 12(a)(iii)
or 12(a)(iv). Nothing in this Agreement will affect the right of either party to serve process in any other manner permitted by
applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Waiver of Immunities.</I></B>
Each party irrevocably waives, to the extent permitted by applicable law, with respect to itself and its revenues and assets (irrespective
of their use or intended use), all immunity on the grounds of sovereignty or other similar grounds from (i) suit, (ii) jurisdiction
of any court, (iii) relief by way of injunction or order for specific performance or recovery of property, (iv) attachment of its
assets (whether before or after judgment) and (v) execution or enforcement of any judgment to which it or its revenues or assets
might otherwise be entitled in any Proceedings in the courts of any jurisdiction and irrevocably agrees, to the extent permitted
by applicable law, that it will not claim any such immunity in any Proceedings.</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0.1in"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>14.</B></TD><TD STYLE="text-align: justify"><B>Definitions</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in; text-align: justify">As used in this Agreement:&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Additional Representation&rdquo;
</I></B>has the meaning specified in Section 3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Additional Termination
Event&rdquo; </I></B>has the meaning specified in Section 5(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Affected Party&rdquo; </I></B>has
the meaning specified in Section 5(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Affected Transactions&rdquo;
</I></B>means (a) with respect to any Termination Event consisting of an Illegality, Force Majeure Event, Tax Event or Tax Event
Upon Merger, all Transactions affected by the occurrence of such Termination Event (which, in the case of an Illegality under Section
5(b)(i)(2) or a Force Majeure Event under Section 5(b)(ii)(2), means all Transactions unless the relevant Credit Support Document
references only certain Transactions, in which case those Transactions and, if the relevant Credit Support Document constitutes
a Confirmation for a Transaction, that Transaction) and (b) with respect to any other Termination Event, all Transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Affiliate&rdquo; </I></B>means,
subject to the Schedule, in relation to any person, any entity controlled, directly or indirectly, by the person, any entity that
controls, directly or indirectly, the person or any entity directly or indirectly under common control with the person. For this
purpose, &ldquo;control&rdquo; of any entity or person means ownership of a majority of the voting power of the entity or person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Agreement&rdquo; </I></B>has
the meaning specified in Section 1(c).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Applicable Close-out Rate&rdquo;
</I></B>means:&#8213;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">in respect of the determination of an Unpaid Amount:&#8213;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in respect of obligations
payable or deliverable (or which would have been but for Section 2(a)(iii)) by a Defaulting Party, the Default Rate;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in respect of obligations
payable or deliverable (or which would have been but for Section 2(a)(iii)) by a Non-defaulting Party, the Non-default Rate;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in respect of obligations
deferred pursuant to Section 5(d), if there is no Defaulting Party and for so long as the deferral period continues, the Applicable
Deferral Rate; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in all other cases following
the occurrence of a Termination Event (except where interest accrues pursuant to clause (iii) above), the Applicable Deferral Rate;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in respect of an Early Termination
Amount:&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for the period from (and
including) the relevant Early Termination Date to (but excluding) the date (determined in accordance with Section 6(d)(ii)) on
which that amount is payable:&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if the Early Termination
Amount is payable by a Defaulting Party, the Default Rate;</P>

<P STYLE="font: 10pt/10.2pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if the Early Termination
Amount is payable by a Non-defaulting Party, the Non-default Rate; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.45in 1in; text-align: justify">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in all other cases, the
Applicable Deferral Rate; and</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for the period from (and
including) the date (determined in accordance with Section 6(d)(ii)) on which that amount is payable to (but excluding) the date
of actual payment:&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in 1in; text-align: justify">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if a party fails to pay
the Early Termination Amount due to the occurrence of an event or circumstance which would, if it occurred with respect to a payment
or delivery under a Transaction, constitute or give rise to an Illegality or a Force Majeure Event, and for so long as the Early
Termination Amount remains unpaid due to the continuing existence of such event or circumstance, the Applicable Deferral Rate;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if the Early Termination
Amount is payable by a Defaulting Party (but excluding any period in respect of which clause (1) above applies), the Default Rate;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if the Early Termination
Amount is payable by a Non-defaulting Party (but excluding any period in respect of which clause (1) above applies), the Non-default
Rate; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">(4)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in all other cases, the Termination
Rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Applicable Deferral Rate&rdquo;
</I></B>means:&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for the purpose of Section 9(h)(i)(3)(A),
the rate certified by the relevant payer to be a rate offered to the payer by a major bank in a relevant interbank market for overnight
deposits in the applicable currency, such bank to be selected in good faith by the payer for the purpose of obtaining a representative
rate that will reasonably reflect conditions prevailing at the time in that relevant market;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for purposes of Section 9(h)(i)(3)(B)
and clause (a)(iii) of the definition of Applicable Close-out Rate, the rate certified by the relevant payer to be a rate offered
to prime banks by a major bank in a relevant interbank market for overnight deposits in the applicable currency, such bank to be
selected in good faith by the payer after consultation with the other party, if practicable, for the purpose of obtaining a representative
rate that will reasonably reflect conditions prevailing at the time in that relevant market; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for purposes of Section 9(h)(i)(3)(C)
and clauses (a)(iv), (b)(i)(3) and (b)(ii)(1) of the definition of Applicable Close-out Rate, a rate equal to the arithmetic mean
of the rate determined pursuant to clause (a) above and a rate per annum equal to the cost (without proof or evidence of any actual
cost) to the relevant payee (as certified by it) if it were to fund or of funding the relevant amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Automatic Early Termination&rdquo;
</I></B>has the meaning specified in Section 6(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Burdened Party&rdquo; </I></B>has
the meaning specified in Section 5(b)(iv).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Change in Tax Law&rdquo;
</I></B>means the enactment, promulgation, execution or ratification of, or any change in or amendment to, any law (or in the application
or official interpretation of any law) that occurs after the parties enter into the relevant Transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Close-out Amount&rdquo;
</I></B>means, with respect to each Terminated Transaction or each group of Terminated Transactions and a Determining Party, the
amount of the losses or costs of the Determining Party that are or would be incurred under then prevailing circumstances (expressed
as a positive number) or gains of the Determining Party that are or would be realised under then prevailing circumstances (expressed
as a negative number) in replacing, or in providing for the Determining Party the economic equivalent of, (a) the material terms
of that Terminated Transaction or group of Terminated Transactions, including the payments and deliveries by the parties under
Section 2(a)(i) in respect of that Terminated Transaction or group of Terminated Transactions that would, but for the occurrence
of the relevant Early Termination Date, have been required after that date (assuming satisfaction of the conditions precedent in
Section 2(a)(iii)) and (b) the option rights of the parties in respect of that Terminated Transaction or group of Terminated Transactions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in; text-align: justify">Any Close-out Amount will be determined
by the Determining Party (or its agent), which will act in good faith and use commercially reasonable procedures in order to produce
a commercially reasonable result. The Determining Party may determine a Close-out Amount for any group of Terminated Transactions
or any individual Terminated Transaction but, in the aggregate, for not less than all Terminated Transactions. Each Close-out Amount
will be determined as of the Early Termination Date or, if that would not be commercially reasonable, as of the date or dates following
the Early Termination Date as would be commercially reasonable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in; text-align: justify">Unpaid Amounts in respect of a Terminated
Transaction or group of Terminated Transactions and legal fees and out-of-pocket expenses referred to in Section 11 are to be excluded
in all determinations of Close-out Amounts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In determining a Close-out Amount, the
Determining Party may consider any relevant information, including, without limitation, one or more of the following types of information:
&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;quotations (either firm or indicative)
for replacement transactions supplied by one or more third parties that may take into account the creditworthiness of the Determining
Party at the time the quotation is provided and the terms of any relevant documentation, including credit support documentation,
between the Determining Party and the third party providing the quotation;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;information consisting of relevant
market data in the relevant market supplied by one or more third parties including, without limitation, relevant rates, prices,
yields, yield curves, volatilities, spreads, correlations or other relevant market data in the relevant market; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;information of the types described
in clause (i) or (ii) above from internal sources (including any of the Determining Party&rsquo;s Affiliates) if that information
is of the same type used by the Determining Party in the regular course of its business for the valuation of similar transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Determining Party will consider,
taking into account the standards and procedures described in this definition, quotations pursuant to clause (i) above or relevant
market data pursuant to clause (ii) above unless the Determining Party reasonably believes in good faith that such quotations or
relevant market data are not readily available or would produce a result that would not satisfy those standards. When considering
information described in clause (i), (ii) or (iii) above, the Determining Party may include costs of funding, to the extent costs
of funding are not and would not be a component of the other information being utilised. Third parties supplying quotations pursuant
to clause (i) above or market data pursuant to clause (ii) above may include, without limitation, dealers in the relevant markets,
end-users of the relevant product, information vendors, brokers and other sources of market information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Without duplication of amounts calculated
based on information described in clause (i), (ii) or (iii) above, or other relevant information, and when it is commercially reasonable
to do so, the Determining Party may in addition consider in calculating a Close-out Amount any loss or cost incurred in connection
with its terminating, liquidating or re-establishing any hedge related to a Terminated Transaction or group of Terminated Transactions
(or any gain resulting from any of them).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Commercially reasonable procedures used
in determining a Close-out Amount may include the following:&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;application to relevant market
data from third parties pursuant to clause (ii) above or information from internal sources pursuant to clause (iii) above of pricing
or other valuation models that are, at the time of the determination of the Close-out Amount, used by the Determining Party in
the regular course of its business in pricing or valuing transactions between the Determining Party and unrelated third parties
that are similar to the Terminated Transaction or group of Terminated Transactions; and</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.15in; text-align: justify">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;application of different valuation
methods to Terminated Transactions or groups of Terminated Transactions depending on the type, complexity, size or number of the
Terminated Transactions or group of Terminated Transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in; text-align: justify"><B><I>&ldquo;Confirmation&rdquo;</I></B>
has the meaning specified in the preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;consent&rdquo;</I></B>
includes a consent, approval, action, authorisation, exemption, notice, filing, registration or exchange control consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Contractual Currency&rdquo;</I></B>
has the meaning specified in Section 8(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Convention Court&rdquo;</I></B>
means any court which is bound to apply to the Proceedings either Article 17 of the 1968 Brussels Convention on Jurisdiction and
the Enforcement of Judgments in Civil and Commercial Matters or Article 17 of the 1988 Lugano Convention on Jurisdiction and the
Enforcement of Judgments in Civil and Commercial Matters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Credit Event Upon Merger&rdquo;</I></B>
has the meaning specified in Section 5(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Credit Support Document&rdquo;</I></B>
means any agreement or instrument that is specified as such in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Credit Support Provider&rdquo;</I></B>
has the meaning specified in the Schedule.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Cross-Default&rdquo;</I></B>
means the event specified in Section 5(a)(vi).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Default Rate&rdquo;</I></B>
means a rate per annum equal to the cost (without proof or evidence of any actual cost) to the relevant payee (as certified by
it) if it were to fund or of funding the relevant amount plus 1% per annum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Defaulting Party&rdquo;</I></B>
has the meaning specified in Section 6(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Designated Event&rdquo;</I></B>
has the meaning specified in Section 5(b)(v).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Determining Party&rdquo;</I></B>
means the party determining a Close-out Amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Early Termination Amount&rdquo;</I></B>
has the meaning specified in Section 6(e).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Early Termination Date&rdquo;</I></B>
means the date determined in accordance with Section 6(a) or 6(b)(iv).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;electronic messages&rdquo;</I></B>
does not include e-mails but does include documents expressed in markup languages, and <B><I>&ldquo;electronic messaging system&rdquo;</I></B>
will be construed accordingly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;English law&rdquo;</I></B>
means the law of England and Wales, and <B><I>&ldquo;English&rdquo;</I></B> will be construed accordingly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Event of Default&rdquo;</I></B>
has the meaning specified in Section 5(a) and, if applicable, in the Schedule.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Force Majeure Event&rdquo;</I></B>
has the meaning specified in Section 5(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;General Business Day&rdquo;</I></B>
means a day on which commercial banks are open for general business (including dealings in foreign exchange and foreign currency
deposits).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Illegality&rdquo;</I></B>
has the meaning specified in Section 5(b).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in; text-align: justify"><B><I>&ldquo;Indemnifiable Tax&rdquo;
</I></B>means any Tax other than a Tax that would not be imposed in respect of a payment under this Agreement but for a present
or former connection between the jurisdiction of the government or taxation authority imposing such Tax and the recipient of such
payment or a person related to such recipient (including, without limitation, a connection arising from such recipient or related
person being or having been a citizen or resident of such jurisdiction, or being or having been organised, present or engaged in
a trade or business in such jurisdiction, or having or having had a permanent establishment or fixed place of business in such
jurisdiction, but excluding a connection arising solely from such recipient or related person having executed, delivered, performed
its obligations or received a payment under, or enforced, this Agreement or a Credit Support Document).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.1in; text-align: justify"><B><I>&ldquo;law&rdquo; </I></B>includes
any treaty, law, rule or regulation (as modified, in the case of tax matters, by the practice of any relevant governmental revenue
authority), and <B><I>&ldquo;unlawful&rdquo; </I></B>will<B><I> </I></B>be construed accordingly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Local Business Day&rdquo;
</I></B>means (a) in relation to any obligation under Section 2(a)(i), a General Business Day in the place or places specified
in the relevant Confirmation and a day on which a relevant settlement system is open or operating as specified in the relevant
Confirmation or, if a place or a settlement system is not so specified, as otherwise agreed by the parties in writing or determined
pursuant to provisions contained, or incorporated by reference, in this Agreement, (b) for the purpose of determining when a Waiting
Period expires, a General Business Day in the place where the event or circumstance that constitutes or gives rise to the Illegality
or Force Majeure Event, as the case may be, occurs, (c) in relation to any other payment, a General Business Day in the place where
the relevant account is located and, if different, in the principal financial centre, if any, of the currency of such payment and,
if that currency does not have a single recognised principal financial centre, a day on which the settlement system necessary to
accomplish such payment is open, (d) in relation to any notice or other communication, including notice contemplated under Section
5(a)(i), a General Business Day (or a day that would have been a General Business Day but for the occurrence of an event or circumstance
which would, if it occurred with respect to payment, delivery or compliance related to a Transaction, constitute or give rise to
an Illegality or a Force Majeure Event) in the place specified in the address for notice provided by the recipient and, in the
case of a notice contemplated by Section 2(b), in the place where the relevant new account is to be located and (e) in relation
to Section 5(a)(v)(2), a General Business Day in the relevant locations for performance with respect to such Specified Transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Local Delivery Day&rdquo;
</I></B>means, for purposes of Sections 5(a)(i) and 5(d), a day on which settlement systems necessary to accomplish the relevant
delivery are generally open for business so that the delivery is capable of being accomplished in accordance with customary market
practice, in the place specified in the relevant Confirmation or, if not so specified, in a location as determined in accordance
with customary market practice for the relevant delivery.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Master Agreement&rdquo;
</I></B>has the meaning specified in the preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Merger Without Assumption&rdquo;
</I></B>means the event specified in Section 5(a)(viii).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Multiple Transaction Payment
Netting&rdquo; </I></B>has the meaning specified in Section 2(c).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Non-affected Party&rdquo;
</I></B>means, so long as there is only one Affected Party, the other party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Non-default Rate&rdquo;
</I></B>means the rate certified by the Non-defaulting Party to be a rate offered to the Non-defaulting Party by a major bank in
a relevant interbank market for overnight deposits in the applicable currency, such bank to be selected in good faith by the Non-defaulting
Party for the purpose of obtaining a representative rate that will reasonably reflect conditions prevailing at the time in that
relevant market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Non-defaulting Party&rdquo;</I></B>
has the meaning specified in Section 6(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Office&rdquo; </I></B>means
a branch or office of a party, which may be such party&rsquo;s head or home office.<B><I> </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Other Amounts&rdquo; </I></B>has
the meaning specified in Section 6(f).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Payee&rdquo; </I></B>has
the meaning specified in Section 6(f).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Payer&rdquo; </I></B>has
the meaning specified in Section 6(f).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Potential Event of Default&rdquo;
</I></B>means any event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Proceedings&rdquo; </I></B>has
the meaning specified in Section 13(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Process Agent&rdquo; </I></B>has
the meaning specified in the Schedule.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;rate of exchange&rdquo;
</I></B>includes, without limitation, any premiums and costs of exchange payable in connection with the purchase of or conversion
into the Contractual Currency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Relevant Jurisdiction&rdquo;
</I></B>means, with respect to a party, the jurisdictions (a) in which the party is incorporated, organised, managed and controlled
or considered to have its seat, (b) where an Office through which the party is acting for purposes of this Agreement is located,
(c) in which the party executes this Agreement and (d) in relation to any payment, from or through which such payment is made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Schedule&rdquo; </I></B>has
the meaning specified in the preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Scheduled Settlement Date&rdquo;
</I></B>means a date on which a payment or delivery is to be made under Section 2(a)(i) with respect to a Transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Specified Entity&rdquo;
</I></B>has the meaning specified in the Schedule.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Specified Indebtedness&rdquo;
</I></B>means, subject to the Schedule, any obligation (whether present or future, contingent or otherwise, as principal or surety
or otherwise) in respect of borrowed money.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Specified Transaction&rdquo;
</I></B>means, subject to the Schedule, (a) any transaction (including an agreement with respect to any such transaction) now existing
or hereafter entered into between one party to this Agreement (or any Credit Support Provider of such party or any applicable Specified
Entity of such party) and the other party to this Agreement (or any Credit Support Provider of such other party or any applicable
Specified Entity of such other party) which is not a Transaction under this Agreement but (i) which is a rate swap transaction,
swap option, basis swap, forward rate transaction, commodity swap, commodity option, equity or equity index swap, equity or equity
index option, bond option, interest rate option, foreign exchange transaction, cap transaction, floor transaction, collar transaction,
currency swap transaction, cross-currency rate swap transaction, currency option, credit protection transaction, credit swap, credit
default swap, credit default option, total return swap, credit spread transaction, repurchase transaction, reverse repurchase transaction,
buy/sell-back transaction, securities lending transaction, weather index transaction or forward purchase or sale of a security,
commodity or other financial instrument or interest (including any option with respect to any of these transactions) or (ii) which
is a type of transaction that is similar to any transaction referred to in clause (i) above that is currently, or in the future
becomes, recurrently entered into in the financial markets (including terms and conditions incorporated by reference in such agreement)
and which is a forward, swap, future, option or other derivative on one or more rates, currencies, commodities, equity securities
or other equity instruments, debt securities or other debt instruments, economic indices or measures of economic risk or value,
or other benchmarks against which payments or deliveries are to be made, (b) any combination of these transactions and (c) any
other transaction identified as a Specified Transaction in this Agreement or the relevant confirmation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Stamp Tax&rdquo;</I></B>
means any stamp, registration, documentation or similar tax.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Stamp Tax Jurisdiction&rdquo;
</I></B>has the meaning specified in Section 4(e).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Tax&rdquo;</I></B> means
any present or future tax, levy, impost, duty, charge, assessment or fee of any nature (including interest, penalties and additions
thereto) that is imposed by any government or other taxing authority in respect of any payment under this Agreement other than
a stamp, registration, documentation or similar tax.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Tax Event&rdquo;</I></B>
has the meaning specified in Section 5(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Tax Event Upon Merger&rdquo;</I></B>
has the meaning specified in Section 5(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Terminated Transactions&rdquo;</I></B>
means, with respect to any Early Termination Date, (a) if resulting from an Illegality or a Force Majeure Event, all Affected Transactions
specified in the notice given pursuant to Section 6(b)(iv), (b) if resulting from any other Termination Event, all Affected Transactions
and (c) if resulting from an Event of Default, all Transactions in effect either immediately before the effectiveness of the notice
designating that Early Termination Date or, if Automatic Early Termination applies, immediately before that Early Termination Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Termination Currency&rdquo;</I></B>
means (a) if a Termination Currency is specified in the Schedule and that currency is freely available, that currency, and (b)
otherwise, euro if this Agreement is expressed to be governed by English law or United States Dollars if this Agreement is expressed
to be governed by the laws of the State of New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Termination Currency Equivalent&rdquo;</I></B>
means, in respect of any amount denominated in the Termination Currency, such Termination Currency amount and, in respect of any
amount denominated in a currency other than the Termination Currency (the &ldquo;Other Currency&rdquo;), the amount in the Termination
Currency determined by the party making the relevant determination as being required to purchase such amount of such Other Currency
as at the relevant Early Termination Date, or, if the relevant Close-out Amount is determined as of a later date, that later date,
with the Termination Currency at the rate equal to the spot exchange rate of the foreign exchange agent (selected as provided below)
for the purchase of such Other Currency with the Termination Currency at or about 11:00 a.m. (in the city in which such foreign
exchange agent is located) on such date as would be customary for the determination of such a rate for the purchase of such Other
Currency for value on the relevant Early Termination Date or that later date. The foreign exchange agent will, if only one party
is obliged to make a determination under Section 6(e), be selected in good faith by that party and otherwise will be agreed by
the parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Termination Event&rdquo;</I></B>
means an Illegality, a Force Majeure Event, a Tax Event, a Tax Event Upon Merger or, if specified to be applicable, a Credit Event
Upon Merger or an Additional Termination Event.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Termination Rate&rdquo;</I></B>
means a rate per annum equal to the arithmetic mean of the cost (without proof or evidence of any actual cost) to each party (as
certified by such party) if it were to fund or of funding such amounts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Threshold Amount&rdquo;</I></B>
means the amount, if any, specified as such in the Schedule.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Transaction&rdquo;</I></B>
has the meaning specified in the preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 12pt 0; text-align: justify"><B><I>&ldquo;Unpaid Amounts&rdquo;</I></B>
owing to any party means, with respect to an Early Termination Date, the aggregate of (a) in respect of all Terminated Transactions,
the amounts that became payable (or that would have become payable but for Section 2(a)(iii) or due but for Section 5(d)) to such
party under Section 2(a)(i) or 2(d)(i)(4) on or prior to such Early Termination Date and which remain unpaid as at such Early Termination
Date, (b) in respect of each Terminated Transaction, for each obligation under Section 2(a)(i) which was (or would have been but
for Section 2(a)(iii) or 5(d)) required to be settled by delivery to such party on or prior to such Early Termination Date and
which has not been so settled as at such Early Termination Date, an amount equal to the fair market value of that which was (or
would have been) required to be delivered and (c) if the Early Termination Date results from an Event of Default, a Credit Event
Upon Merger or an Additional Termination Event in respect of which all outstanding Transactions are Affected Transactions, any
Early Termination Amount due prior to such Early Termination Date and which remains unpaid as of such Early Termination Date, in
each case together with any amount of interest accrued or other</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 12pt 0; text-align: justify">compensation in respect of that
obligation or deferred obligation, as the case may be, pursuant to Section 9(h)(ii)(1) or (2), as appropriate. The fair market
value of any obligation referred to in clause (b) above will be determined as of the originally scheduled date for delivery, in
good faith and using commercially reasonable procedures, by the party obliged to make the determination under Section 6(e) or,
if each party is so obliged, it will be the average of the Termination Currency Equivalents of the fair market values so determined
by both parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&ldquo;Waiting Period&rdquo; </I></B>means:&#8213;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in respect of an event or circumstance
under Section 5(b)(i), other than in the case of Section 5(b)(i)(2) where the relevant payment, delivery or compliance is actually
required on the relevant day (in which case no Waiting Period will apply), a period of three Local Business Days (or days that
would have been Local Business Days but for the occurrence of that event or circumstance) following the occurrence of that event
or circumstance; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 48pt; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in respect of an event or circumstance
under Section 5(b)(ii), other than in the case of Section 5(b)(ii)(2) where the relevant payment, delivery or compliance is actually
required on the relevant day (in which case no Waiting Period will apply), a period of eight Local Business Days (or days that
would have been Local Business Days but for the occurrence of that event or circumstance) following the occurrence of that event
or circumstance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: justify">IN WITNESS WHEREOF the parties have
executed this document on the respective dates specified below with effect from the date specified on the first page of this document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: justify">Bank of America, N.A.</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">Franklin Street Properties Corp.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-bottom: 24pt; font-weight: bold; text-align: center">(Name of Party)</TD>
    <TD STYLE="padding-bottom: 24pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 24pt; text-align: center">(Name of Party)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 9%; font-weight: bold; text-align: justify">By:</TD>
    <TD STYLE="width: 37%; border-bottom: windowtext 1pt solid; font-weight: bold; text-align: justify">&nbsp; /s/ Shirley de la Canal</TD>
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: justify">By:</TD>
    <TD STYLE="width: 42%; border-bottom: windowtext 1pt solid; text-align: justify">&nbsp; /s/ George J. Carter</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>Name:</TD>
    <TD STYLE="font-weight: bold; text-decoration: none">Shirley de la Canal</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>Name:</TD>
    <TD STYLE="font-weight: bold; text-decoration: none">George J. Carter</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>Title:</TD>
    <TD STYLE="font-weight: bold; text-decoration: none">Director</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>Title:</TD>
    <TD STYLE="font-style: normal"><FONT STYLE="font-weight: normal; font-style: normal">President</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: justify">&nbsp;</P>



<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 48pt"><B>ISDA</B></FONT><B>
&reg;</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">International Swaps and Derivatives Association,
Inc.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 14pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase">SCHEDULE<BR>
</FONT>to the<BR>
2002 Master Agreement</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">dated as of September 27, 2012</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">between</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>BANK OF AMERICA, N.A.,</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">a national banking association organized and
existing<BR>
under the laws of the United States of America,</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(&ldquo;Party A&rdquo;)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">and</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FRANKLIN STREET PROPERTIES CORP.</B>,</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">a corporation organized and existing under the
laws of Maryland,</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(&ldquo;Party B&rdquo;)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Part 1<BR>
Termination Provisions</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">&ldquo;<B><I>Specified Entity</I></B>&rdquo; means in relation to Party A for the purpose of Sections
5(a)(v), 5(a)(vi), 5(a)(vii) and 5(b)(v): none;</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&ldquo;<B><I>Specified Entity</I></B>&rdquo;
means in relation to Party B for the purpose of Sections 5(a)(v), 5(a)(vi), 5(a)(vii) and 5(b)(v): none.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">&ldquo;<B><I>Specified Transaction</I></B>&rdquo; will have the meaning specified in Section 14.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">The &ldquo;<B><I>Cross-Default</I></B>&rdquo; provisions of Section 5(a)(vi):</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">will apply to Party A and</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">will apply to Party B; provided that
(i) the phrase &ldquo;or becoming capable at such time of being declared&rdquo; shall be deleted from clause (1) of such Section
5(a)(vi); and (ii) the following language shall be added to the end thereof: &ldquo;Notwithstanding the foregoing, a default under
subsection (2) hereof shall not constitute an Event of Default if (i) the default was caused solely by an error or omission of
an administrative or operational nature; (ii) funds were available to enable the party to make the payment when due; and (iii)
the payment is made within three Local Business Days of such party&rsquo;s receipt of written notice of its failure to pay.&rdquo;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">In connection therewith, <B><I>&ldquo;Specified
Indebtedness&rdquo;</I></B><I> </I>(i) with respect to Party A, will have the meaning specified in Section 14 except that such
term shall not include obligations in respect of deposits received in the ordinary course of a party&rsquo;s banking business and
(ii) with respect to Party B, will mean the obligations under the Credit Agreement (as defined below).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>&ldquo;Threshold
Amount&rdquo;</I></B><I> </I>means with respect to Party A an amount equal to three percent (3%) of the Shareholders&rsquo; Equity
of Bank of America Corporation and with respect to Party B, </FONT>$40,000,000 for Specified Indebtedness that would be included
in Nonrecourse Indebtedness, as defined in the Credit Agreement, and for all other Specified Indebtedness,&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">$20,000,000.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B><I>&ldquo;Credit Agreement&rdquo;</I></B>
means the Amended and Restated Credit Agreement dated on or about September 27, 2012 among Franklin Street Properties Corp., together
with each of the Material Subsidiaries defined therein, collectively as Borrower, each of the Lenders party thereto (and as defined
therein), and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer (as amended, extended, supplemented,
refinanced, replaced or otherwise modified in writing from time to time).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B><I>&ldquo;Shareholders&rsquo;
Equity&rdquo;</I></B><I> </I>means with respect to an entity, at any time, the sum (as shown in the most recent annual audited
financial statements of such entity) of (i) its capital stock (including preferred stock) outstanding, taken at par value, (ii)
its capital surplus and (iii) its retained earnings, minus (iv) treasury stock, each to be determined in accordance with generally
accepted accounting principles.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">The &ldquo;<B><I>Credit Event Upon Merger</I></B>&rdquo; provisions of Section 5(b)(v):</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">will apply to Party A</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">will apply to Party B</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">The &ldquo;<B><I>Automatic Early Termination</I></B>&rdquo; provision of Section 6(a):</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">will not apply to Party A</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">will not apply to Party B.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">&ldquo;<B><I>Termination Currency</I></B>&rdquo; means United States Dollars.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify"><B><I>Additional Termination Event</I></B> will apply.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">It shall be an Additional Termination
Event hereunder, with respect to which Party B shall be the sole Affected Party, if for any reason other than a Party A Exit Event,
either Party A&rsquo;s obligations to lend under the Credit Agreement (including, but not limited to, Party A&rsquo;s participation
in the Term Loan as defined in the Credit Agreement) are terminated or Party A ceases to be a party to the Credit Agreement.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">As used herein, <B><I>&ldquo;Party
A Exit Event&rdquo;</I></B> means either the termination by Party A of its rights and obligations under the Credit Agreement, or
the voluntary assignment of its rights and obligations thereunder to a third party.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Part 2<BR>
Tax Representations</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD><B><I>Payer Tax Representations.</I></B> For the purpose of Section 3(e) of this Agreement, Party A and Party B will make the
following representation:-</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">It is not required by any applicable
law, as modified by the practice of any relevant governmental revenue authority, of any Relevant Jurisdiction to make any deduction
or withholding for or on account of any Tax from any payment (other than interest under Section 9(h) of this Agreement) to be made
by it to the other party under this Agreement. In making this representation, it may rely on (i) the accuracy of any representations
made by the other party pursuant to Section 3(f) of this Agreement, (ii) the satisfaction of the agreement contained in Section
4(a)(i) or 4(a)(iii) of this Agreement and the accuracy and effectiveness of any document provided by the other party pursuant
to Section 4(a)(i) or 4(a)(iii) of this Agreement and (iii) the satisfaction of the agreement of the other party contained in Section
4(d) of this Agreement, except that it will not be a breach of this representation where reliance is placed on clause (ii) above
and the other party does not deliver a form or document under Section 4(a)(iii) by reason of material prejudice to its legal or
commercial position.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD><B><I>Payee Tax Representations.</I></B> For the purpose of Section 3(f) of this Agreement, Party A and Party B will make the
following representations specified below, if any:-</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD>The following representations will apply to Party A:</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">Party A is a national banking association
created or organized under the laws of the United States of America and the federal taxpayer identification number is 94-1687665.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD>The following representations will apply to Party B:</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">Party B is a corporation created or
organized under the laws of the State of Maryland and the federal taxpayer identification number is 04-3578653.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Part 3<BR>
Agreement to Deliver Documents</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the purpose of Section 4(a)(i) and (ii)
of this Agreement, each party agrees to deliver the following documents:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>Tax forms, documents or certificates to be delivered are:</TD></TR></TABLE>

<P STYLE="font: 11pt/12.25pt Times New Roman, Times, Serif; margin: 0 1.45pt 0 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24%; padding-right: 2pt; padding-left: 2pt; font-weight: bold">Party required to deliver document</TD>
    <TD STYLE="width: 46%; padding-right: 2pt; padding-left: 2pt; font-weight: bold">Document</TD>
    <TD STYLE="width: 30%; padding-right: 2pt; padding-left: 2pt; font-weight: bold">Date by which to be delivered</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2pt; padding-left: 2pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.45pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; padding-left: 2pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2pt; padding-left: 2pt">Party B</TD>
    <TD STYLE="padding-right: 1.45pt; padding-left: 5.4pt">Internal Revenue Service Form W-9</TD>
    <TD STYLE="padding-right: 2pt; padding-left: 2pt">Upon execution and delivery of this Agreement</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">(b)</FONT></TD><TD><FONT STYLE="font-size: 11pt">Other documents to be delivered are:-</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 17%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-indent: -0.9pt">Party required to deliver document</TD>
    <TD STYLE="width: 39%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold">Form/Document/Certificate</TD>
    <TD STYLE="width: 24%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold">Date by which to be delivered</TD>
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold">Covered by Section 3(d) Representation</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Party&nbsp;A and Party&nbsp;B</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Credit Support Document, if any, specified in Part 4 of the Schedule, such Credit Support Document being duly executed if required</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Upon execution and delivery of this Agreement</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">No</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Party A and Party B</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Certified copies of all corporate, partnership or membership authorizations, as the case may be, and any other documents with respect to the execution, delivery and performance of this Agreement and any Credit Support Document</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Upon execution and delivery of this Agreement</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Yes</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Party A and Party B</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Certificate of authority and specimen signatures of individuals executing this Agreement and any Credit Support Document</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Upon execution and delivery of this Agreement and thereafter upon request of the other party</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Yes</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Party A</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Annual Report of Bank of America Corporation containing audited, consolidated financial statements certified by independent certified public accountants and prepared in accordance with generally accepted accounting principles in the country in which such party is organized</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">To be made available on <FONT STYLE="color: windowtext">www.bankofamerica.com/investor/</FONT> as soon as available and in any event within 90 days after the end of each fiscal year of Party A</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Yes</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Party A</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Quarterly Financial Statements of Bank of America Corporation containing unaudited, consolidated financial statements of such party&rsquo;s fiscal quarter prepared in accordance with generally accepted accounting principles in the country in which such party is organized</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">To be made available on <FONT STYLE="color: windowtext">www.bankofamerica.com/investor/</FONT> as soon as available and in any event within 45 days after the end of each fiscal quarter of Party A</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Yes</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 17%; padding-right: 5.4pt; padding-left: 5.4pt">Party B</TD>
    <TD STYLE="width: 39%; padding-right: 5.4pt; padding-left: 5.4pt">Annual and Quarterly Financial Statements required to be provided or delivered to Party A pursuant to the terms of the Credit Agreement</TD>
    <TD STYLE="width: 24%; padding-right: 5.4pt; padding-left: 5.4pt">At the times required to be&nbsp; provided or delivered under the terms of the Credit Agreement, provided that to the extent any such documents are included in materials otherwise filed with the SEC, such documents&nbsp; may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i)&nbsp;on which Party B posts such documents, or provides a link thereto on Party B&rsquo;s website on the Internet; or (ii)&nbsp;on which such documents are posted on Party B&rsquo;s behalf on an Internet or intranet website, if any, to which Party A has access (whether a commercial, third-party website or whether sponsored by the administrative agent under the Credit Agreement.)</TD>
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Yes</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Part 4<BR>
Miscellaneous</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify"><B><I>Address for Notices.</I></B> For the purpose of Section 12(a) of this Agreement:-</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>Address for notice or communications
to Party A</B>:</P>

<P STYLE="font: 11pt/12.25pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; margin-left: 0.5in">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Bank of America, N.A.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">200 N. College Street NC1-004-03-43</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Charlotte, NC 28255-0001</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Attention: Swap Operations</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Telephone No.: (312) 234 2732</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Facsimile No.: (866) 255 1444</P></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/12.25pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">With a copy to:-</P>

<P STYLE="font: 11pt/12.25pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; margin-left: 0.5in">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Bank of America, N.A.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">50 Rockefeller Plaza, NY1-050-10-01</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">New York, New York 10020</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Attention: Client Integration and Documentation
        Group</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">Facsimile No.: (212) 548 8622</P></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Address for financial statements
to Party A:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Bank of America, N.A.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">225 Franklin Street</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Boston, MA 02110</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Attention: Oltiana Pappas, Senior Vice President</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Telephone No.: 617-346-0460<FONT STYLE="background-color: yellow">
</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Address for notice or communications to Party
B:</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; margin-left: 0.5in">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Franklin Street Properties Corp.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">401 Edgewater Place, Suite 200</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Wakefield, MA 01880</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Attention: John G. Demeritt, Chief Financial
        Officer</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Telephone No.: 781-557-1341</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Facsimile No.: 781-557-1335</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Email Address: jdemeritt@franklinstreetproperties.com</P></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify"><B><I>Process Agent.</I></B><I> </I>For the purpose of Section 13(c):</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Party A appoints as its Process Agent:
Not applicable.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Party B appoints as its Process Agent:
Not applicable.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify"><B><I>Offices.</I></B><I> </I>The provisions of Section 10(a) will apply to this Agreement.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify"><B><I>Multibranch Party.</I></B> For the purpose of Section 10(b) of this Agreement:-</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Party A is a Multibranch Party and
may act through its Charlotte, North Carolina, Chicago, Illinois, San Francisco, California, New York, New York, Boston, Massachusetts
or London, England Office, its Canada Branch, located in Toronto, Ontario or such other Office as may be agreed to by the parties
in connection with a Transaction.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Party B is not a Multibranch Party.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify"><B><I>Calculation Agent.</I></B> The Calculation Agent is Party A, provided that if an Event of
Default occurs and is continuing with respect to Party A, Party B&nbsp;may appoint a&nbsp;dealer selected by Party B and approved
by Party A (such approval&nbsp;not&nbsp;to be unreasonably withheld)&nbsp;to act as alternate Calculation Agent for so long as
such Event of Default continues. Following any such designation of an alternate Calculation Agent, if no Event of Default in respect
of Party A is then continuing, the Calculation Agent shall again be Party A. All calculations and determinations made by the Calculation
Agent shall be made in good faith and in a commercially reasonable manner.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD><B><I>Credit Support Document.</I></B> Details of any Credit Support Document:-</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Each of the following, as amended,
extended, supplemented or otherwise modified in writing from time to time, is a &ldquo;Credit Support Document&rdquo;: Not applicable.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(g)</TD><TD><B><I>Credit Support Provider.</I></B></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Credit Support Provider means in
relation to Party A: Not applicable.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Credit Support Provider means in
relation to Party B: Not applicable.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify"><B><I>Governing Law.</I></B> This Agreement and any and all controversies arising out of or in
relation to this Agreement shall be governed by and construed in accordance with the laws of the State of New York (without reference
to its conflict of laws doctrine).</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-weight: normal">Section&nbsp;13 is amended
by (i)&nbsp;deleting in Section&nbsp;13(b)(i)(2) the word &ldquo;non-exclusive&rdquo; and replacing it with &ldquo;exclusive&rdquo;
and (ii)&nbsp;deleting Section&nbsp;13(b)(iii) in its entirety.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B><I>Netting of Payments. </I></B><I> </I>Unless the parties otherwise
so agree, &ldquo;Multiple Transaction Payment Netting&rdquo; will apply for the purpose of Section 2(c) of this Agreement to all
Transactions, starting as of the date of this Agreement.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(j)</TD><TD><B><I>&ldquo;Affiliate&rdquo;</I></B><I> </I>will have the meaning specified in Section 14 of this Agreement.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: left"><B><I>Absence of Litigation.</I></B> For the purpose of Section 3(c):-</TD></TR></TABLE>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">&ldquo;Specified
Entity&rdquo; means in relation to Party A, none;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&ldquo;Specified
Entity&rdquo; means in relation to Party B, none.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(l)</TD><TD STYLE="text-align: left"><B><I>No Agency.</I></B> The provisions of Section 3(g) will apply to this Agreement.</TD></TR></TABLE>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(m)</TD><TD STYLE="text-align: justify"><B><I>Additional Representation</I></B> will apply. For the purpose of Section 3 of this Agreement,
each of the following will constitute an Additional Representation, which will be made by the party indicated below at the times
specified below:-</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B><I>Mutual Representations.</I></B>
Each party makes the following representations to the other party (which representations will be deemed to be repeated by each
party on each date on which a Transaction is entered into):</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify"><B><I>Relationship Between Parties.</I></B> Each party will be deemed to represent to the other
party on the date on which it enters into a Transaction that (absent a written agreement between the parties that expressly imposes
affirmative obligations to the contrary for that Transaction):-</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify"><B><I>Non-Reliance.</I></B> It is acting for its own account, and it has made its own independent
decisions to enter into that Transaction and as to whether that Transaction is appropriate or proper for it based upon its own
judgment and upon advice from such advisors as it has deemed necessary. It is not relying on any communication (written or oral)
of the other party as investment advice or as a recommendation to enter into that Transaction, it being understood that information
and explanations related to the terms and conditions of a Transaction shall not be considered investment advice or a recommendation
to enter into that Transaction. No communication (written or oral) received from the other party will be deemed to be an assurance
or guarantee as to the expected results of that Transaction.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify"><B><I>Assessment and Understanding.</I></B> It is capable of assessing the merits of and understanding
(on its own behalf or through independent professional advice), and understands and accepts, the terms, conditions and risks of
that Transaction. It is also capable of assuming, and assumes, the risks of that Transaction.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify"><B><I>Status of Parties. </I></B> The other party is not acting as a fiduciary for or an advisor
to it in respect of that Transaction.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify"><B><I>Eligible Contract Participant. </I></B>It is an &ldquo;eligible contract participant&rdquo;
as defined in Section 1 of the U.S. Commodity Exchange Act, 7 U.S.C.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">(n)</FONT></TD><TD STYLE="text-align: justify"><B><I>Recording of Conversations.</I></B> Each party to this Agreement acknowledges and agrees
to the recording of conversations between trading and marketing personnel of the parties to this Agreement whether by one or other
or both of the parties or their agents.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Part 5<BR>
Other Provisions</B></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: -35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify"><B><I>Financial Statements</I>.</B> Section 3(d) is hereby amended by adding in the third line
thereof after the word &ldquo;respect&rdquo; and before the period:</TD></TR></TABLE>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&ldquo;or, in the case of
financial statements, a fair presentation of the financial condition of the relevant party.&rdquo;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify"><B><I>2002 Master Agreement Protocol.</I></B> Annexes 1 to 18 and Section 6 of the ISDA 2002 Master
Agreement Protocol as published by the International Swaps and Derivatives Association, Inc. on July 15, 2003 are incorporated
into and apply to this Agreement. References in those definitions and provisions to any ISDA Master Agreement will be deemed to
be references to this Master Agreement.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify"><B><I>Consent to Disclosure.</I></B></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.55pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.55pt">(i) Party B
consents to Party A effecting such disclosure as Party A may deem reasonably neccessary to enable Party A to transfer Party B&rsquo;s
records and information to process and execute Party B&rsquo;s instructions, and to enable the parties to perform their obligations
under this Agreement, to any of its Affiliates. For the avoidance of doubt, Party B&rsquo;s consent to disclosure includes the
right on the part of Party A to allow access to any intended recipient of Party B&rsquo;s information, to the records of Party
A by any means.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.55pt">(ii) Party
B further consents to Party A delivering this ISDA Master Agreement, any Credit Support Document and any Confirmations to one or
more third party financial institutions for the purposes of Party A entering into an agreement with such institution for the purposes
of managing Party A&rsquo;s risk to Party B in any of the obligations of Party B to Party A under this Agreement, provided however,
that any such agreement will not result in the modification of Party A&rsquo;s obligations under this Agreement.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify"><B><I>Set-off</I></B>. Section 6(f) is hereby amended as follows: the words &ldquo;or any affiliates
of the Payee in circumstances where the Payee is the non-Defaulting or non-Affected Party&rdquo; shall be inserted in the sixth
line following the words &ldquo;payable by the Payee&rdquo;.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify"><B><I>WAIVER OF RIGHT TO TRIAL BY JURY.</I></B> EACH PARTY HEREBY IRREVOCABLY WAIVES ANY AND ALL
RIGHTS TO TRIAL BY JURY WITH RESPECT TO ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY CREDIT SUPPORT DOCUMENT
OR ANY TRANSACTION CONTEMPLATED HEREBY.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify"><B><I>Method of Notice</I></B>. Section&nbsp;12(a)(ii) of the Master Agreement is deleted in its
entirety.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify"><B><I>Safe Harbors</I></B><I>.</I> Each party to this Agreement acknowledges that:</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">This Agreement, including any Credit Support Document, is a &ldquo;master
netting agreement&rdquo; as defined in the U.S. Bankruptcy Code (the &ldquo;<B><I>Code</I></B>&rdquo;), and a &ldquo;netting contract&rdquo;
as defined in the netting provisions of the Federal Deposit Insurance Corporation Improvement Act of 1991 (&ldquo;<B><I>FDICIA</I></B>&rdquo;),
and this Agreement, including any Credit Support Document, and each Transaction hereunder is of a type set forth in Section 561(a)(1)-(5)
of the Code;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Party A is a &ldquo;master netting agreement participant,&rdquo;
a &ldquo;financial institution,&rdquo; a &ldquo;financial participant,&rdquo; a &ldquo;forward contract merchant&rdquo; and a &ldquo;swap
participant&rdquo; as defined in the Code, and a &ldquo;financial institution&rdquo; as defined in the netting provisions of FDICIA;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">(iii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">The remedies provided herein, and in any Credit Support Document,
are the remedies referred to in Section 561(a), Sections 362(b)(6), (7), (17) and (27), and Section 362(o) of the Code, and in
Section 11(e)(8)(A) and (C) of the Federal Deposit Insurance Act;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">(iv)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">All transfers of cash, securities or other property under or in connection
with this Agreement, any Credit Support Document or any Transaction hereunder are &ldquo;margin payments,&rdquo; &ldquo;settlement
payments&rdquo; and &ldquo;transfers&rdquo; under Sections 546(e), (f), (g) or (j), and under Section 548(d)(2) of the Code; and</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">(v)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Each obligation under this Agreement, any Credit Support Document
or any Transaction hereunder is an obligation to make a &ldquo;margin payment,&rdquo; &ldquo;settlement payment&rdquo; and &ldquo;payment&rdquo;
within the meaning of Sections 362, 560 and 561 of the Code.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify"><B><I>Swap Contract.</I></B> Party B represents to Party A (which representation will be deemed
to be repeated by Party B on each date on which a Transaction is entered into) that this Agreement is a Swap Contract as defined
in the Credit Agreement.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in"><B>&nbsp;</B></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify"><B><I>Withholding Tax imposed on payments to non-US counterparties under the United States Foreign
Account Tax Compliance Act</I></B>. &ldquo;Tax&rdquo; as used in Part 2(a) of this Schedule (Payer Tax Representation) and &ldquo;Indemnifiable
Tax&rdquo; as defined in Section 14 of this Agreement shall not include any U.S. federal withholding tax imposed or collected pursuant
to Sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended (the &ldquo;Code&rdquo;), any current or future
regulations or official interpretations thereof, any agreement entered into pursuant to Section 1471(b) of the Code, or any fiscal
or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement entered into in connection with
the implementation of such Sections of the Code (a &quot;FATCA Withholding Tax&quot;). For the avoidance of doubt, a FATCA Withholding
Tax is a Tax the deduction or withholding of which is required by applicable law for the purposes of Section 2(d) of this Agreement.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify"><B><I>Transfer.</I></B> Section 7 of the Agreement is amended by adding the words &ldquo;which
consent shall not be unreasonably withheld or delayed&rdquo; in the third line thereof after the word &ldquo;party&rdquo; and before
the comma.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify"><B><I>Amendments to Section 5 Events of Default</I>.</B></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">The reference in Section 5(a)(i) to &ldquo;first&rdquo; shall be deleted and replaced with &ldquo;third&rdquo;.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">The following shall be added to the end of Section 5(a)(ii)(1) &ldquo;provided that in the case
of any such default which is susceptible to cure but cannot be cured within thirty (30) days through the exercise of reasonable
diligence, if such Borrower commences such cure within the initial thirty (30) days period and thereafter diligently prosecutes
same to completion, such period of thirty (30) days shall be extended for such additional period of time as may be reasonably necessary
to cure same, but in no event shall such extended period exceed sixty (60) additional days&rdquo;.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">The references in Section 5(a)(vii) (Bankruptcy) to &ldquo;15 days&rdquo; shall be deleted and
replaced with &ldquo;60 days&rdquo;.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: -1.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(l)</TD><TD STYLE="text-align: justify"><B><I>Good Faith and Commercial Reasonableness</I>.</B> Each party hereto shall act in good faith
and in a commercially reasonable manner at all times under this Agreement (including any Credit Support Document) including insofar
as they may act as Calculation Agent.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Part 6<BR>
Additional Terms for Foreign Exchange and Foreign Exchange Option Transactions</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify"><B><I>Incorporation of Definitions.</I></B> The 1998 FX and Currency Option Definitions (the &ldquo;<B><I>FX
Definitions</I></B>&rdquo;), published by the International Swaps and Derivatives Association, Inc., the Emerging Markets Traders
Association and The Foreign Exchange Committee, are hereby incorporated by reference with respect to FX Transactions (as defined
in the FX Definitions) and Currency Option Transactions (as defined in the FX Definitions). Terms defined in the FX Definitions
shall have the same meanings in this Part 6.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify"><B><I>Scope.</I></B> Unless otherwise agreed in writing by the parties, each FX Transaction and
Currency Option Transaction entered into between the parties before, on or after the date of this Agreement shall be a Transaction
under this Agreement and shall be part of, subject to and governed by this Agreement. FX Transactions and Currency Option Transactions
shall be part of, subject to and governed by this Agreement even if the Confirmation in respect thereof does not state that such
FX Transaction or Currency Option Transaction is subject to or governed by this Agreement or does not otherwise reference this
Agreement.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify">When an FX Transaction or a Currency
Option is confirmed by means of exchange of electronic messages on an electronic messaging system or other document or other confirming
evidence exchanged between the parties confirming such Transaction, such messages, document or evidence will constitute a Confirmation
for the purposes of this Agreement even where not so specified therein.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify"><B><I>Premium Netting</I></B>. If, on any date, and unless otherwise mutually agreed by the parties,
Premiums would otherwise be payable hereunder in the same Currency between the same respective offices of the parties, then, on
such date, each party&rsquo;s obligation to make payment of such Premiums will be automatically satisfied and discharged and, if
the aggregate Premiums that would otherwise have been payable by such office of one party exceeds the aggregate Premiums that would
otherwise have been payable by such office of the other party, replaced by an obligation upon the party by whom the larger aggregate
Premiums would have been payable to pay the other party the excess of the larger aggregate Premiums over the smaller aggregate
Premiums, and if the aggregate Premiums are equal, no payment shall be made.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify"><B><I>Payment Netting of FX Transactions and Currency Option Transactions.</I></B> Multiple Transaction
Payment Netting shall not apply to FX Transactions or Currency Option Transactions. Unless otherwise mutually agreed by the parties,
if on any date more than one delivery of a particular Currency is to be made between a pair of offices with respect to settlement
of FX Transactions or Currency Option Transactions (but excluding payments with respect to option premiums and cash settled options),
then each party shall aggregate the amounts of such Currency deliverable by it and only the difference between these aggregate
amounts shall be delivered by the party owing the larger aggregate amount to the other party, and, if the aggregate amounts are
equal, no delivery of the Currency shall be made.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify"><B><I>Potential Event of Default.</I></B> Subject to Section 2(a)(iii) of the Agreement, if an
Event of Default or Potential Event of Default has occurred and is continuing, and an Early Termination Date has not been designated
by the Non-defaulting Party, the Non-defaulting Party may, by written notice, specify that any or all Currency Options being settled
while such Event of Default or Potential Event of Default is continuing shall be settled in accordance with Article 3, Section
3.7 of the FX Definitions and upon such notice becoming effective, the Parties shall be deemed to have elected to have the specified
Currency Options settle at the In-the-Money Amount unless and until the Event of Default or Potential Event of Default is no longer
continuing.</TD></TR></TABLE>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: left; text-indent: -35.45pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-weight: normal">(f)</FONT></TD><TD STYLE="text-align: justify"><I>Payment Instructions</I><FONT STYLE="font-weight: normal">.</FONT> <FONT STYLE="font-weight: normal">All
payments to be made hereunder in respect of FX and Currency Option Transactions shall be made in accordance with standing payment
instructions provided by the parties from time to time in writing (or as otherwise specified in a Confirmation). </FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: left; text-indent: -35.45pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-weight: normal">(g)</FONT></TD><TD STYLE="text-align: justify"><I>Notice of Exercise.</I> <FONT STYLE="font-weight: normal">Article 3, Section 3.5(g) of the FX
Definitions is amended by the deletion of the word &ldquo;facsimile,&rdquo; in the fourth line thereof.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: left; text-indent: -35.45pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-weight: normal">(h)</FONT></TD><TD STYLE="text-align: justify"><I>Automatic Exercise</I><FONT STYLE="font-weight: normal">.</FONT> <FONT STYLE="font-weight: normal">Article
3, Section 3.6(c)(i), line six of the FX Definitions which currently reads &ldquo;one percent of the Strike Price&rdquo; shall
be amended to read &ldquo;0.5% of the Strike Price.&rdquo;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: left; text-indent: -35.45pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify"><B><I>Terms Relating to Premium</I>.</B> Article 3, Section 3.4 of the FX Definitions is hereby
amended by the addition of the following as a new paragraph (c) of the FX Definitions.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&ldquo;(c)&#9;<B>Premium: Failure
to Pay on Premium Payment Date.</B> If any Premium is not received on the Premium Payment Date, the Seller may elect: (i) to accept
a late payment of such Premium; (ii) to give written notice of such non- payment and, if such payment shall not be received within
one (1) Local Business Day of such notice, treat the related Currency Option as void; or (iii) to give written notice of such non-payment
and, if such payment shall not be received within one (1) Local Business Day of such notice, treat such non-payment as an Event
of Default under Section 5(a)(i). If the Seller elects to act under either clause (i) or (ii) of the preceding sentence, the Buyer
shall pay all out-of-pocket costs and actual damages incurred in connection with such unpaid or late Premium or void Currency Option,
including, without limitation, interest on such Premium in the same currency as such Premium at the then prevailing market rate
and any other costs or expenses incurred by the Seller in covering its obligations (including, without limitation, a delta hedge)
with respect to such Currency Option.&rdquo;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>IN WITNESS WHEREOF</B>, the parties have
executed this Schedule by their duly authorized officers as of the date hereof.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 1.45pt; padding-left: 5.4pt; font-weight: bold">BANK OF AMERICA, N.A.</TD>
    <TD STYLE="width: 50%; padding-right: 1.45pt; padding-left: 5.4pt; font-weight: bold"><B>FRANKLIN STREET PROPERTIES CORP.</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1.45pt 0 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1.45pt 0 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1.45pt 0 0">By: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Shirley de
        la Canal<BR>
        Name:&nbsp;&nbsp;Shirley de la Canal<BR>
        Title:&nbsp;&nbsp;&nbsp;&nbsp;Director<BR>
        Date:&nbsp;&nbsp;&nbsp;&nbsp;9-27-2012</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1.45pt 0 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1.45pt 0 0">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/
        George J. Carter<BR>
        Name:</FONT>&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">George J. Carter<BR>
        Title:</FONT>&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">President<BR>
        Date:</FONT>&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">9-27-2012</FONT></P></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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