MACK CALI REALTY CORP
MATERIAL CONTRACTS
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<TYPE>EX-10.2
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<FILENAME>a06-6355_2ex10d2.htm
<DESCRIPTION>MATERIAL CONTRACTS
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 10.2</font></b></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CONTRIBUTION AND SALE AGREEMENT</font></b></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">by and among</font></b></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">GALE SLG NJ LLC, <br>
a Delaware limited liability company,</font></b></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">GALE SLG RIDGEFIELD MEZZ LLC,<br>
a Delaware limited liability company,</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">GALE SLG NJ MEZZ LLC,<br>
a Delaware limited liability company,</font></b></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">and</font></b></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">MACK-CALI VENTURES L.L.C.,<br>
a Delaware limited liability company</font></b></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Dated as of March 7, 2006</font></b></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">TABLE OF CONTENTS</font></b></p>

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<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
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  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
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  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
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  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Page</font></u></b></p>
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  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.8%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">1.</font></b></p>
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  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">CERTAIN
  DEFINITIONS</font></b></p>
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  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">4</font></b></p>
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  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
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  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
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  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.8%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">2.</font></b></p>
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  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">AGREEMENT
  FOR CONTRIBUTION AND SALE</font></b></p>
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  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">13</font></b></p>
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  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
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  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
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  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">3.</font></b></p>
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  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">DEPOSIT</font></b></p>
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  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">14</font></b></p>
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  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
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  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
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  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">4.</font></b></p>
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  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">DUE
  DILIGENCE WAIVED; SPECIAL GALE TERMINATION RIGHT</font></b></p>
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  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">14</font></b></p>
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  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
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  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
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  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">5.</font></b></p>
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  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">CLOSING</font></b></p>
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  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">15</font></b></p>
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  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
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  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">6.</font></b></p>
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  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">ESCROW</font></b></p>
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  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">16</font></b></p>
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  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
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  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">7.</font></b></p>
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  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">TITLE
  COMMITMENT</font></b></p>
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  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">16</font></b></p>
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  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
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  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
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  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
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  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">8.</font></b></p>
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  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">REPRESENTATIONS
  AND WARRANTIES</font></b></p>
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  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">20</font></b></p>
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  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.8%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">9.</font></b></p>
  </td>
  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">GALE
  SLG COVENANTS</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">30</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.8%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.8%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">10.</font></b></p>
  </td>
  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">INSPECTION</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">34</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.8%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.8%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">11.</font></b></p>
  </td>
  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">CONDITIONS
  PRECEDENT TO CLOSING</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">35</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.8%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.8%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">12.</font></b></p>
  </td>
  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">CLOSING
  DOCUMENTS; FINANCING; EXISTING LENDER CONSENTS</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">37</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.8%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.8%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">13.</font></b></p>
  </td>
  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">FIRE
  OR CASUALTY</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">40</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.8%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.8%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">14.</font></b></p>
  </td>
  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">CONDEMNATION</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">41</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.8%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.8%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">15.</font></b></p>
  </td>
  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">ADJUSTMENTS
  AND PRORATIONS</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">41</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.8%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.8%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">16.</font></b></p>
  </td>
  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">SURVIVAL;
  LIMITATION OF LIABILITY</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">48</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.8%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.8%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">17.</font></b></p>
  </td>
  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">NOTICES</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">49</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.8%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.8%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">18.</font></b></p>
  </td>
  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">BROKERS</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">50</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.8%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.8%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">19.</font></b></p>
  </td>
  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">TAX
  MATTERS</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">51</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.8%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.8%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">20.</font></b></p>
  </td>
  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">MISCELLANEOUS</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">53</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.8%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.8%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">21.</font></b></p>
  </td>
  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.96%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">TROY
  TRANSACTION</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.24%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-indent:0in;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">57</font></b></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">i</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="2" width="100%" noshade color="gray" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='i',FILE='C:\JMS\jvangc\06-6355-2\task899283\6355-2-ki-01.htm',USER='jvangb',CD='Mar 10 02:35 2006' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="font-size:10.0pt;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-indent:0in;text-transform:uppercase;"><font face="Times New Roman" style="font-weight:normal;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exhibits</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><a name="TableHead"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A</font></a></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Properties and Owners</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B-1</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Gale SLG Pre-Closing Organizational Chart</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B-2</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mack-Cali Pre-Closing Organizational Chart</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B-3</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Post-Closing Organizational Chart</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">C</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form of Initial JVLLC Operating Agreement</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">D</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form of Amended and Restated JVLLC Limited
  Liability Company Operating Agreement</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">E</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form of Title Affidavit</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">F</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form of Escrow Agreement</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">G</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form of Certification of Representations
  and Warranties</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">H</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form of Assignment and Assumption of
  Limited Liability Company Interest</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form of Rent Shortfall Guaranty</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">J</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form of Landlord Estoppel</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">K</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form of Tenant Estoppel</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">L</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Gramercy Term Sheet</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">M</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Troy Entities and Troy Properties</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Schedules</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7(g)(viii)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title Policies</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8(a)(iii)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Contribution and Subscription Agreements</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8(a)(x)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Leases</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8(a)(xi)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Service Contracts</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8(a)(xiii)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Brokerage Agreements</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8(a)(xiv)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Litigation</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8(a)(xviii)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Other Subsidiaries</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8(a)(xxii)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Leasing Commissions as allocated to the
  Parties</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8(a)(xxiv)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Existing Fixed Rate Debt Balance</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8(a)(xxvi)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Rent Roll</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8(a)(xxvii)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Certain Licenses</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8(a)(xxx)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Tax Cert Proceedings</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8(a)(xxxi)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Surveys</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8(a)(xxxii)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Subsidiaries Treated as a Corporation</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9(g)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Master Lease Spaces</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9(j)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mandatory Tenants</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9(s)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Reciprocal Agreements</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12(c)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Existing Fixed Rate Debt</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Agreed Values</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15(i)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.72%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Certain &#147;Free Rent&#148; Amounts</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ii</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CONTRIBUTION AND SALE AGREEMENT</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">THIS
CONTRIBUTION AND SALE AGREEMENT</font></b> (together with all
Schedules and Exhibits hereto, this &#147;<b><font style="font-weight:bold;">Agreement</font></b>&#148;)
is made and entered into as of the 7th of March, 2006 (the &#147;<b><font style="font-weight:bold;">Date of Agreement</font></b>&#148;) by and among GALE SLG
NJ LLC, a Delaware limited liability company (&#147;<b><font style="font-weight:bold;">Gale SLG</font></b>&#148;), GALE SLG NJ MEZZ LLC, a Delaware limited liability
company (&#147;<b><font style="font-weight:bold;">Portfolio Mezz</font></b>&#148;) and
GALE SLG RIDGEFIELD MEZZ LLC, a Delaware limited liability company (&#147;<b><font style="font-weight:bold;">Challenger Mezz</font></b>&#148;, and together with Gale
SLG and Portfolio Mezz, collectively, the &#147;<b><font style="font-weight:bold;">Gale
SLG Transferors</font></b>&#148;, and each a &#147;<b><font style="font-weight:bold;">Gale
SLG Transferor</font></b>&#148;), and Mack-Cali Ventures L.L.C., a Delaware limited
liability company (&#147;<b><font style="font-weight:bold;">Mack-Cali</font></b>&#148;).</p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">RECITALS</font></u></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">A.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Gale SLG is
the owner of 100% of the membership interests (the &#147;<b><font style="font-weight:bold;">Gale GP Interest</font></b>&#148;) in Gale SLG NJ GP LLC, a Delaware limited
liability company (the &#147;<b><font style="font-weight:bold;">GP</font></b>&#148;),
existing pursuant to the Limited Liability Company Agreement of the GP dated
July 30, 2004 (the &#147;<b><font style="font-weight:bold;">GP Operating Agreement</font></b>&#148;)
and 32,754,800 OP Units (as defined in the OP Partnership Agreement) (the &#147;<b><font style="font-weight:bold;">Gale OP Units</font></b>&#148;; and together with the Gale
GP Interest, collectively, the &#147;<b><font style="font-weight:bold;">Contributed
Interest</font></b>&#148;) of Gale SLG NJ Operating Partnership, L.P. (the &#147;<b><font style="font-weight:bold;">OP</font></b>&#148;), a Delaware limited partnership existing
pursuant to the Third Amended and Restated Limited Partnership Agreement of the
OP, dated August 24, 1999, as amended by a First Amendment and Second
Amendment, each dated July 30, 2004 (as so amended, the &#147;<b><font style="font-weight:bold;">OP Partnership Agreement</font></b>&#148;).</p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">B.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>The GP is
the sole general partner of the OP and owns 327,508 GP Units (as defined in the
OP Partnership Agreement) and all of the outstanding Preferred GP Units (as
defined in the OP Partnership Agreement).</p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">C.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>The OP is
the owner of 100% of the membership interests in Portfolio Mezz, and Portfolio
Mezz is the indirect owner of certain real property listed in <b><font style="font-weight:bold;">Exhibit A</font></b> attached hereto (the &#147;<b><font style="font-weight:bold;">Portfolio Properties</font></b>&#148;; each individually, a
&#147;<b><font style="font-weight:bold;">Portfolio Property</font></b>&#148;). Fee title
to each Portfolio Property is held by the entity set forth next to such
Property on <b><font style="font-weight:bold;">Exhibit A</font></b>
(collectively, the &#147;<b><font style="font-weight:bold;">Portfolio</font></b>  <b><font style="font-weight:bold;">Owners</font></b>&#148;). In addition, (a) Mezz is the
owner of 100% of the membership interests in the entities listed on <b><font style="font-weight:bold;">Exhibit M</font></b> (the &#147;<b><font style="font-weight:bold;">Troy Entities</font></b>&#148;), which entities are the fee owners of the properties
set forth next to their names on <b><font style="font-weight:bold;">Exhibit M </font></b>(the
&#147;<b><font style="font-weight:bold;">Troy Properties</font></b>&#148;) and (b) the OP
is the owner of 100% of the membership interests in Gale SLG Naperville Member
LLC (&#147;<b><font style="font-weight:bold;">Gale SLG Naperville</font></b>&#148;, and
together with the Troy Entities, the &#147;<b><font style="font-weight:bold;">Class C
Entities</font></b>&#148;; and the OP&#146;s direct or indirect membership interests in
the Class C Entities, collectively, the &#147;<b><font style="font-weight:bold;">Class
C Assets</font></b>&#148;).</p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">D.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>The OP is
the owner of 100% of the issued and outstanding capital stock of Gale SLG NJ
TRS Corp., a Delaware corporation (&#147;<b><font style="font-weight:bold;">Portfolio
TRS</font></b>&#148;). Portfolio TRS is the owner of 100% of the membership
interests (the &#147;<b><font style="font-weight:bold;">OP Sub II Interest</font></b>&#148;)
in PW/MS OP Sub II, LLC, a Delaware limited liability company (&#147;<b><font style="font-weight:bold;">Op Sub II</font></b>&#148;).</p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">E.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Portfolio
Mezz is the owner of (a) 100% of the membership interests (the &#147;<b><font style="font-weight:bold;">Waterview Interest</font></b>&#148;) in 35 Waterview SPE
LLC, a Delaware limited liability company (&#147;<b><font style="font-weight:bold;">Waterview
Owner</font></b>&#148;), which is fee owner of certain real property commonly known
as 35</p>

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<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Waterview Boulevard, Parsippany-Troy Hills,
New Jersey (the &#147;<b><font style="font-weight:bold;">Waterview Property</font></b>&#148;)
and (b) 100% of the membership interests (the &#147;<b><font style="font-weight:bold;">Thornall Interest</font></b>&#148;) in 343 Thornall SPE LLC, a Delaware
limited liability company (&#147;<b><font style="font-weight:bold;">Thornall Owner</font></b>&#148;),
which is a fee owner of certain real property commonly known as 343 Thornall
Street, Edison, New Jersey (the &#147;<b><font style="font-weight:bold;">Thornall
Property</font></b>&#148;).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">F.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Challenger
Mezz is the owner of 100% of the membership interests (the &#147;<b><font style="font-weight:bold;">Challenger Interest</font></b>&#148;) in 105 Challenger
Owner LLC, a Delaware limited liability company (&#147;<b><font style="font-weight:bold;">Challenger Owner</font></b>&#148;; Challenger Owner, together with and the
Portfolio Owners, collectively, the &#147;<b><font style="font-weight:bold;">Owners</font></b>&#148;,
each, an &#147;<b><font style="font-weight:bold;">Owner</font></b>&#148;). Challenger
Owner is owner of a ground leasehold interest in certain real property known as
105 Challenger Road, Ridgefield Park, New Jersey (the &#147;<b><font style="font-weight:bold;">Challenger Property</font></b>&#148;; together with the
Portfolio Properties, the Waterview Property and the Thornall Property,
collectively, the &#147;<b><font style="font-weight:bold;">Properties</font></b>&#148;,
each, a &#147;<b><font style="font-weight:bold;">Property</font></b>&#148;).</p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">G.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Gale SLG
Challenger LLC (&#147;<b><font style="font-weight:bold;">Challenger Parent</font></b>&#148;)
is the owner of 100% of the membership interests in Challenger Mezz and 100% of
the issued and outstanding stock of 105 Challenger TRS Corp. (&#147;<b><font style="font-weight:bold;">Challenger TRS</font></b>&#148;), a Delaware corporation.</p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">H.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>The Owners,
together with the OP, the GP, Portfolio Mezz and the Class C Entities are
referred to herein collectively the &#147;<b><font style="font-weight:bold;">Gale SLG
Entities</font></b>&#148;. An organizational chart depicting the pre-Closing
structure of the Gale SLG Entities and ownership of the Properties is attached
hereto as <b><font style="font-weight:bold;">Exhibit B-1</font></b>. An
organizational chart depicting the post-Closing structure, after giving effect
to the Transaction, as hereinafter defined, is attached as <b><font style="font-weight:bold;">Exhibit&nbsp;B-3</font></b>.</p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">I.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>The
Properties are currently encumbered by mortgage and mezzanine debt as more
particularly described herein.</p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">J.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Prior to
the Closing:</p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (i)&#160;
TRS shall form a Delaware limited liability company (&#147;<b><font style="font-weight:bold;">TRS LLC</font></b>&#148;), to which it shall contribute all
of the Op Sub II Interest in exchange for 100% of the membership interests in
TRS LLC (the &#147;<b><font style="font-weight:bold;">TRS LLC Interest</font></b>&#148;);
(ii) TRS LLC shall form a Delaware corporation (&#147;<b><font style="font-weight:bold;">TRS Sub</font></b>&#148;), to which it shall contribute all of the Op Sub II
Interest in exchange for 100% of the issued and outstanding capital stock in
TRS Sub; (iii) TRS shall distribute the TRS LLC Interest to its sole
shareholder, the OP as a dividend; (iv) the OP shall distribute the TRS LLC
Interest to its partners as a capital distribution; and (v) the GP shall, in
turn, distribute the TRS LLC Interest distributed to it to its sole member,
Gale SLG as a distribution (clauses (i)-(iv) are, collectively, the &#147;<b><font style="font-weight:bold;">Portfolio TRS Reorganization</font></b>&#148;);</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Gale SLG shall form Mack-Green-Gale
LLC, a new wholly-owned Delaware limited liability company (&#147;<b><font style="font-weight:bold;">JVLLC</font></b>&#148;); shall enter into an initial
limited liability company operating agreement in the form attached hereto as <b><font style="font-weight:bold;">Exhibit C;</font></b> shall contribute the Contributed
Interest to JVLLC; and</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Challenger Parent shall contribute
100% of the capital stock of Challenger TRS to Challenger Owner.</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

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<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">K.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>At Closing:</p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Portfolio Mezz shall sell to
Mack-Cali the Waterview Interest (the transaction described in this clause (a),
the &#147;<b><font style="font-weight:bold;">Waterview Transaction</font></b>&#148;);</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Portfolio Mezz shall sell to
Mack-Cali the Thornall Interest (the transaction described in this clause (b),
the &#147;<b><font style="font-weight:bold;">Thornall Transaction</font></b>&#148;);</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Challenger Mezz shall sell to
Mack-Cali the Challenger Interest (the transaction described in this clause
(c), the &#147;<b><font style="font-weight:bold;">Challenger Transaction</font></b>&#148;);
and</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Gale SLG shall sell to Mack-Cali the
Mack-Cali Interest (as hereinafter defined), and Gale SLG and Mack-Cali shall
enter into the Amended and Restated operating agreement of JVLLC in the form
attached hereto as <b><font style="font-weight:bold;">Exhibit D</font></b> (such
agreement, the &#147;<b><font style="font-weight:bold;">JVLLC Operating Agreement</font></b>&#148;;
the transaction described in this (d), the &#147;<b><font style="font-weight:bold;">Portfolio
Transaction</font></b>&#148;, and&#160; together
with the Challenger Transaction, the Thornall Transaction and the Waterview Transaction,
collectively, the &#147;<b><font style="font-weight:bold;">Transaction</font></b>&#148;).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">L.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>In
consideration of the Waterview Transaction, Mack-Cali shall pay to Portfolio
Mezz an amount (the &#147;<b><font style="font-weight:bold;">Waterview Purchase Price</font></b>&#148;),
equal to the Agreed Value of the Waterview Property minus the then-outstanding
principal amount of the Existing Fixed Rate Debt encumbering the Waterview
Property, in exchange for the Waterview Interest.</p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">M.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>In
consideration of the Thornall Transaction, Mack-Cali shall pay to Portfolio
Mezz an amount (the &#147;<b><font style="font-weight:bold;">Thornall Purchase Price</font></b>&#148;),
equal to the Agreed Value of the Thornall Property, in exchange for the
Thornall Interest.</p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">N.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>In
consideration of the Challenger Transaction, Mack-Cali shall pay to Challenger
Mezz an amount (the &#147;<b><font style="font-weight:bold;">Challenger Purchase
Price</font></b>&#148;), equal to the Agreed Value of the Challenger Property minus
the then-outstanding principal amount of the Existing Fixed Rate Debt
encumbering the Challenger Property, in exchange for the Challenger Interest.</p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">O.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>In
consideration of the Portfolio Transaction, Mack-Cali shall pay to Gale SLG the
sum of the following in exchange for Mack-Cali&#146;s interest in JVLLC:</p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; an amount (the &#147;<b><font style="font-weight:bold;">Clause A Amount</font></b>&#148;), equal to Mack-Cali&#146;s
Applicable Percentage Share of an amount equal to the difference between (x)
the aggregate Agreed Value of the Class A Properties and (y) the aggregate
outstanding principal amount of Existing Fixed Rate Debt encumbering the Class
A Properties as of the Closing Date;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; an amount (the &#147;<b><font style="font-weight:bold;">Clause B Amount</font></b>&#148;), equal to Mack-Cali&#146;s
Applicable Percentage Share of an amount equal to the difference between (x)
the aggregate Agreed Value of the Class B Properties and (y) the aggregate
outstanding principal amount of Existing Fixed Rate Debt encumbering the Class
B Properties as of the Closing Date; and</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; an amount equal to Mack-Cali&#146;s
Applicable Percentage Share of an amount equal to the difference between (x)
the Agreed Value of the Troy Properties and (y) the aggregate principal amount
of Existing Floating Rate Debt encumbering the Troy Properties as</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">of the Closing Date (and after application of
the release prices in respect of the Class A Properties and Class B Properties
encumbered thereby to reduce the principal amount thereof), (such amount the &#147;<b><font style="font-weight:bold;">Clause C Amount</font></b>&#148;, and together with the
Clause A Amount and the Clause B Amount, collectively, the &#147;<b><font style="font-weight:bold;">Portfolio Purchase Price</font></b>&#148;; the Portfolio
Purchase Price, together with the Challenger Purchase Price, the Thornall
Purchase Price and the Waterview Purchase Price, collectively, the &#147;<b><font style="font-weight:bold;">Total Purchase Price</font></b>&#148;), in all cases
subject to proration and adjustment at Closing and to the other terms and
conditions contained herein, including, without limitation, the provisions of <b><font style="font-weight:bold;">Section 21</font></b> (the interest in JVLLC acquired
by Mack-Cali upon payment of the Portfolio Purchase Price is referred to herein
as the &#147;<b><font style="font-weight:bold;">Mack-Cali Interest</font></b>&#148;).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">P.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>After the
transfer of the Mack-Cali Interest to Mack-Cali, Gale SLG will hold the
remaining interest in JVLLC (the &#147;<b><font style="font-weight:bold;">Gale SLG
Interest</font></b>&#148;).</p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Q.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>The parties
desire to enter into this Agreement for the purpose of implementing the
transfers and contributions of partnership interests and membership interests
described herein and making the covenants, representations and warranties
described herein.</p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">AGREEMENTS</font></u></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">NOW,
THEREFORE</font></b>, in consideration of the mutual covenants
and agreements contained herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties
hereto agree as follows:</p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>CERTAIN DEFINITIONS</u></font></b><b><font style="font-weight:bold;">. </font></b>The following terms as used in this Agreement will have
the meanings attributed to them as set forth below unless the context clearly
requires some other meaning.</p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">2004 Financials</font></b>&#148; has the meaning set forth
in Section 8(a)(xv).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">2005 Financials</font></b>&#148; has the meaning set forth
in Section 8(a)(xv).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">75 Livingston</font></b>&#148; has the meaning set forth in
Section 12(c).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Action</font></b>&#148; means any claim, action, suit,
arbitration, inquiry, proceeding or investigation by or before any Governmental
Authority.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Agreed Value</font></b>&#148; means, with respect to any
Property and the Troy Properties, the value set forth on Schedule 13.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Agreement</font></b>&#148; has the meaning set forth in the
introductory paragraph.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Applicable Gale SLG Transferor</font></b>&#148; means, with
respect to the Contributed Interest, Gale SLG; with respect to the Waterview
Property and the Thornall Property, Portfolio Mezz; and with respect to the
Challenger Property, Challenger Mezz.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Applicable Percentage Share</font></b>&#148; means:</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>

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</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1) with
respect to Mack-Cali, (a) with respect to the Class A Properties, the product
of (x) Mack-Cali&#146;s Class A Property Percentage Share and (y) the OP Percentage
Interest, (b) with respect to the Class B Properties, the product of (x)
Mack-Cali&#146;s Class B Property Percentage Share and (y) the OP Percentage
Interest and (c) with respect to the Class C Assets, the product of (x)
Mack-Cali&#146;s Class C Property Percentage Share and (y) the OP Percentage
Interest; and</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2) with
respect to Gale SLG, (a) with respect to the Class A Properties, the product of
(x) Gale SLG&#146;s Class A Property Percentage Share and (y) the OP Percentage
Interest, (b) with respect to the Class B Properties, the product of (x) Gale
SLG&#146;s Class B Property Percentage Share and (y) the OP Percentage Interest and
(c) with respect to the Class C Assets, the product of (x) Gale SLG&#146;s Class C
Property Percentage Share and (y) the OP Percentage Interest.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Appurtenant Rights</font></b>&#148; means all rights of
way, tenements, hereditaments, easements, interests, minerals and mineral
rights, water and water rights, utility capacity and appurtenances, strips and
gores and all adjoining streets, alleys, roads, parking areas, curbs, curb
cuts, sidewalks, landscaping, signage, sewers and public ways, if any, in any
way belonging or appertaining to, and material to the ownership or operation
of, the Land and the Improvements.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Assignment</font></b>&#148; has the meaning set forth in
Section 12(a)(vii).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Assumption Approval Date</font></b>&#148; has the meaning
set forth in Section 5(a).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Broker</font></b>&#148; has the meaning set forth in Section
18.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Brokerage Agreements</font></b>&#148; means all agreements
with brokers or agents for the leasing of space at the Properties.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Business Day</font></b>&#148; means any day other than a
Saturday, Sunday or other day on which banks located in New York, New York are
required or permitted to close.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Certification of Representations and Warranties</font></b>&#148;
has the meaning set forth in Section 12(a)(vi).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Challenger Mezz</font></b>&#148; has the meaning set forth
in the introductory paragraph.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Challenger Ground Lease&#148; </font></b>means that certain
Lease of the Sixth Redevelopment Parcel, dated November 21, 1990 between the
Village of Ridgefield Park, as lessor and Hartz Mountain Industries, Inc., as
lesseee, as assigned by Hartz Mountain Industries, Inc. to Samsung America,
Inc. by Assignment and Assumption of Ground Lease, dated November 21, 1990, as
amended by First Amendment to Sixth Redevelopment Parcel Lease between the
Village of Ridgefield Park and Samsung America, Inc., dated June 14, 1993, and
assigned (to the extent of a 50% undivided interest) by Samsung America, Inc.
to Samsung Semiconductor, Inc. pursuant to an Assignment and Assumption of
Lease, dated September 1, 1995, as amended by Second Amendment to Redevelopment
Parcel Lease between the Village of Ridgefield Park and Samsung America, Inc.
and Samsung Semiconductor, Inc., dated February 11, 1997, as assigned by
Samsung America, Inc. and Samsung Semiconductor, Inc. to SAI/SSI Realty L.L.C.
by Assignment and Assumption of Lease, dated as of June 4, 1998, as assigned by
SAI/SSI Realty L.L.C. to Samsung America, Inc. and Samsung Semiconductor, Inc
by Assignment and</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>

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<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Assumption of Lease, dated as of December 22,
1998, as assigned by Samsung America, Inc. and Samsung Semiconductor, Inc. to
Wellsford/Whitehall Holdings, L.L.C. by Assignment and Assumption of Ground
Lease dated as of December 22, 1998, as amended by Third Amendment to Sixth
Redevelopment Parcel Lease, dated as of December 22, 1998, between the Village
of Ridgefield Park and Wellsford/Whitehall Holdings, L.L.C., as assigned by
Wellsford/Whitehall Holdings, L.L.C. to 105 Challenger Owner LLC by Assignment
and Assumption of Ground Lease, dated as of May 16, 2005.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Challenger Interest</font></b>&#148; has the meaning set
forth in paragraph (F) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Challenger Owner</font></b>&#148; has the meaning set forth
in paragraph (F) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Challenger Parent</font></b>&#148; has the meaning set
forth in paragraph (G) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Challenger Property</font></b>&#148; has the meaning set
forth in paragraph (F) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Challenger Purchase Price</font></b>&#148; has the meaning
set forth in paragraph (N) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Challenger Transaction</font></b>&#148; has the meaning set
forth in paragraph (K) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Challenger TRS</font></b>&#148; has the meaning set forth
in paragraph (G) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Class A Properties</font></b>&#148; means the Properties
identified on Exhibit A as Class A Properties.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Class A Property Percentage Share</font></b>&#148; has the
meaning given such term in the JVLLC Operating Agreement.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Class B Properties</font></b>&#148; means the Properties
identified on Exhibit A as Class B Properties.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Class B Property Percentage Share</font></b>&#148; has the
meaning given such term in the JVLLC Operating Agreement.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Class C Assets</font></b>&#148; has the meaning set forth
in paragraph (C) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Class C Entities</font></b>&#148; has the meaning set forth
in paragraph (C) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Class C Policies</font></b>&#148; has the meaning set forth
in Section 7(k).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Class C Properties</font></b>&#148; has the meaning set
forth in Section 7(k).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Class C Property Percentage Share</font></b>&#148; has the
meaning given such term in the JVLLC Operating Agreement.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Class Tax Liability</font></b>&#148; has the meaning set
forth in Section 17.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Clause A Amount</font></b>&#148; has the meaning set forth
in paragraph O of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Clause B Amount</font></b>&#148; has the meaning set forth
in paragraph O of the Recitals.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="2" width="100%" noshade color="gray" align="left"></div>

</div>
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<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Clause C Amount</font></b>&#148; has the meaning set forth
in paragraph O of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Closing</font></b>&#148; has the meaning set forth in
Section 5(a).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Closing Date</font></b>&#148; has the meaning set forth in
Section 5(a).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Closing Documents</font></b>&#148; has the meaning set
forth in Section 12(a).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Closing Statement</font></b>&#148; has the meaning set
forth in Section 15(k).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Code</font></b>&#148; shall mean the Internal Revenue Code
of 1986, as amended, as it may be further amended from time to time, and any
successor statutes thereto, and applicable U.S.&nbsp;Department of Treasury
regulations issued pursuant thereto in temporary or final form.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Condition of the Interest</font></b>&#148; has the meaning
set forth in Section 8(f)(ii).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Contributed Interest</font></b>&#148; has the meaning set
forth in paragraph (A) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Contribution and Subscription Agreements</font></b>&#148;
has the meaning set forth in Section&nbsp;8(a)(iii).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Date of Agreement</font></b>&#148; has the meaning set
forth in the introductory paragraph.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Debt Assumption</font></b>&#148; has the meaning set forth
in Section 12(c).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Deposit</font></b>&#148; has the meaning set forth in
Section 3.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Encumbrance</font></b>&#148;<b><font style="font-weight:bold;"> </font></b>has the meaning set forth in Section 8(a)(iii).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Entity-Related Representations</font></b>&#148; has the
meaning set forth in Section 16(b).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Environmental Law</font></b>&#148; shall mean any
applicable federal, state, county or municipal statute, ordinance, rule,
regulation, order, code, directive or requirement, together with all successor
statutes, ordinances, rules, regulations, orders, codes, directives or
requirements, of any Governmental Authority in any way related to Hazardous
Materials.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Escrowee</font></b>&#148; has the meaning set forth in
Section 6.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Escrow Agreement</font></b>&#148; has the meaning set forth
in Section 6.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Existing Fixed Rate Debt</font></b>&#148; means, for each
Property, the mortgage loan so identified for such Property on Schedule 12(c).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Existing Floating Rate Debt</font></b>&#148; shall mean the
mortgage loan, dated July 30, 2004, made by Wachovia Bank, National Association
to certain of the Owners in the original principal amount of $344,395,000.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Existing Mezz Debt</font></b>&#148; shall mean,
collectively, (a)&nbsp;the revolving mezzanine loan, dated July&nbsp;30, 2004,
made by SLG Gale Funding LLC to Portfolio Mezz in the maximum principal</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7</font></p>

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</div>
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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">amount of $25,000,000 and (b)&nbsp;the
mezzanine loan, dated May&nbsp;16, 2005 made by Gramercy Warehouse Funding II
LLC to Challenger Mezz in the amount of $6,500,000.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Expense Reimbursements</font></b>&#148; has the meaning set
forth in Section 15(d)(ii).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Financials</font></b>&#148; has the meaning set forth in
Section 8(a)(xiii).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Gale GP Interest</font></b>&#148; has the meaning set forth
in paragraph (A) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Gale OP Units</font></b>&#148; has the meaning set forth in
paragraph (A) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Gale SLG</font></b>&#148; has the meaning set forth in the
introductory paragraph.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Gale SLG Entity</font></b>&#148; and &#147;<b><font style="font-weight:bold;">Gale SLG Entities</font></b>&#148; have the meanings set
forth in paragraph (H) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Gale SLG Interest</font></b>&#148; has the meaning set
forth in paragraph (P) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Gale SLG Lease Cost Space</font></b>&#148; has the meaning
set forth in Section 9(g).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Gale SLG Transferor</font></b>&#148; and &#147;<b><font style="font-weight:bold;">Gale SLG Transferors</font></b>&#148; have the meanings set
forth in the introductory paragraph.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Gale SLG Transferors&#146; Representatives</font></b>&#148; has
the meaning set forth in Section 19.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Gale SLG Naperville</font></b>&#148; has the meaning set
forth in paragraph (C) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">GAAP</font></b>&#148; means United States generally
accepted accounting principles and practices in effect on the date of this
Agreement.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Governmental Authority</font></b>&#148; shall mean any
court, board, agency, commission, office, authority, department, bureau or
instrumentality of any nature whatsoever or any governmental unit (federal,
state, county, district, municipal, city or otherwise) whether now or hereafter
in existence.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Governmental Order</font></b>&#148; means any order, writ,
judgment, injunction, decree, stipulation, determination or award entered by or
with any Governmental Authority.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">GI Test</font></b>&#148; has the meaning set forth in
Section 4(b).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">GP</font></b>&#148; has the meaning set forth in paragraph
(A) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">GP Operating Agreement</font></b>&#148; has the meaning set
forth in paragraph (A) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Guarantor Release</font></b>&#148; has the meaning set
forth in Section 12(c).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Hazardous Materials</font></b>&#148; has the meaning set
forth in Section 8(f)(ii)(A).</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8</font></p>

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</div>
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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Improvements</font></b>&#148; means all buildings, fixtures
and other improvements existing on the Land.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Initial Deposit</font></b>&#148; has the meaning set forth
in Section 3.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Intangibles</font></b>&#148; means all right, title and
interest in and to all trade names, trademarks, copyrights, service marks,
logos, designs, goodwill, telephone numbers, proprietary software (and
documentation thereof), books and records, and other intellectual and
intangible property used by Owner, if any, in connection with, and material to,
the ownership, operation and maintenance of the Property.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">JVLLC</font></b>&#148; has the meaning set forth in
paragraph (J) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">JVLLC Operating Agreement</font></b>&#148; has the meaning
set forth in paragraph (K) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Knowledge</font></b>&#148; has the meaning set forth in
Section (8)(c).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Knowledge Parties</font></b>&#148; has the meaning set
forth in Section (8)(c).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Land</font></b>&#148; means the real property constituting
any Property.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Law</font></b>&#148; means any foreign, federal, national, supranational,
state, provincial, local or similar statute, law, ordinance, regulation, rule,
code, order, requirement or rule of law (including common law) in effect as of
the date hereof.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Leases</font></b>&#148; means all rights as lessor,
landlord or licensor under all leases, tenancies and rental or occupancy
agreements granting possessory rights, options, rights of first refusal or
similar rights with respect to any interest in the Properties or any part
thereof, in, on or covering the Land or Improvements, together with all
modifications, extensions, amendments and guarantees thereof, together with
such other leases of the Improvements (together with modifications, extensions,
amendments and guarantees thereof) as may be made prior to Closing in
accordance with the terms of this Agreement.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Letter of Credit</font></b>&#148; has the meaning set forth
in Section 3.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Liabilities</font></b>&#148; means any and all debts,
liabilities and obligations, whether accrued or fixed, absolute or contingent,
matured or unmatured or determined or determinable, including those arising
under any Law, Action or Governmental Order and those arising under any
contract, agreement, arrangement, commitment or other undertaking.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Licenses</font></b>&#148; means all plans, drawings,
specifications, blueprints and surveys in Owner&#146;s possession and relating in
any material way to, the Land, Improvements, and Appurtenant Rights, and all
licenses, franchises, occupancy and use certificates, permits, authorizations,
consents, variances, waivers, approvals and the like from any governmental or
quasi-governmental entity or instrumentality materially affecting the
ownership, operation or maintenance of the Land or the Improvements, including,
without limitation, the Licenses set forth on <b><font style="font-weight:bold;">Schedule
8(a)(xxvii)</font></b>.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="2" width="100%" noshade color="gray" align="left"></div>

</div>
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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Mack-Cali</font></b>&#148; has the meaning set forth in the
introductory paragraph.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Mack-Cali</font></b>  <b><font style="font-weight:bold;">Interest</font></b>&#148;
has the meaning set forth in paragraph (O) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Mack-Cali Representatives</font></b>&#148; has the meaning
set forth in Section 19.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Mandatory Tenants</font></b>&#148; has the meaning set
forth in Section 9(j).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Master Lease Space</font></b>&#148; has the meaning set
forth in Section 9(g).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Minimum Estoppel Requirement</font></b>&#148; shall have
the meaning set forth in Section 9(j).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">New Exceptions</font></b>&#148; has the meaning set forth
in Section 7(b).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">New Financing</font></b>&#148; has the meaning set forth in
Section 12(d).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Non-Portfolio Property Payment</font></b>&#148; has the
meaning set forth in Section&nbsp;16(d).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Notice</font></b>&#148; shall mean, in addition to its
ordinary meaning, any written communication of any nature, whether in the form
of correspondence, memoranda, order, directive or otherwise.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">OP</font></b>&#148; has the meaning set forth in paragraph
(A) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">OP Partnership Agreement</font></b>&#148; has the meaning
set forth in paragraph (A) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">OP Percentage Interest</font></b>&#148; or &#147;<b><font style="font-weight:bold;">OP Percentage Share</font></b>&#148; means, as of any date
in respect of which the same is determined, the aggregate Percentage Interest
(as defined in the OP Partnership Agreement) in the OP owned, directly or
indirectly, by JVLLC as of such date.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Op Sub II</font></b>&#148; has the meaning set forth in
paragraph (D) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Op Sub II Interest</font></b>&#148; has the meaning set
forth in paragraph (D) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Organizational Documents</font></b>&#148; has the meaning
set forth in Section 8(a)(ix).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Owner</font></b>&#148; and &#147;<b><font style="font-weight:bold;">Owners</font></b>&#148; have the meanings set forth in paragraph (F) of the
Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Permitted Exceptions</font></b>&#148; has the meaning set
forth in Section 7(g).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Parking Field Lot</font></b>&#148; has the meaning set
forth in Section 7(b).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Personal Property</font></b>&#148; means all equipment and
fixtures (other than those owned by tenants) attached to the Improvements and
located at and used in connection with the ownership, operation and maintenance
of the Land or the Improvements, including without limitation all heating,
lighting, air conditioning, ventilating, plumbing, electrical or other mechanical
equipment, other than such equipment and fixtures which are de minimis in the
operation of the applicable Property. The Personal Property is set forth on
Schedule 8(a)(xxiii).</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10</font></p>

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</div>
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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Portfolio Mezz</font></b>&#148; has the meaning set forth
in the introductory paragraph.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Portfolio Owners</font></b>&#148; has the meaning set forth
in paragraph (C) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Portfolio Property</font></b>&#148; and &#147;<b><font style="font-weight:bold;">Portfolio Properties</font></b>&#148; have the meanings set
forth in paragraph (C) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Portfolio Purchase Price</font></b>&#148; has the meaning
set forth in paragraph (O) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Portfolio Transaction</font></b>&#148; has the meaning set
forth in paragraph (K) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Portfolio TRS</font></b>&#148; has the meaning set forth in
paragraph (D) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Portfolio TRS Reorganization</font></b>&#148; has the
meaning set forth in paragraph (J) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Post-Closing Owner</font></b>&#148; has the meaning set
forth in Section 15(a).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Post-Closing Period</font></b>&#148; has the meaning set
forth in Section 19.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Post-Closing Straddle Period</font></b>&#148; has the
meaning set forth in Section 19.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Pre-Closing Owner</font></b>&#148; has the meaning set
forth in Section 15(a).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Pre-Closing Period</font></b>&#148; has the meaning set
forth in Section 19.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Pre-Closing Straddle Period</font></b>&#148; has the
meaning set forth in Section 19.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Pre-Closing Tax Return</font></b>&#148; has the meaning set
forth in Section 19.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Proceeding</font></b>&#148; has the meaning set forth in
Section 19.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Property</font></b>&#148; and &#147;<b><font style="font-weight:bold;">Properties</font></b>&#148; have the meanings set forth in paragraph (F) of
the Recitals and shall include the applicable Owner&#146;s interest in the related
Land, Improvements, Appurtenant Rights, Personal Property, Leases, Contracts,
Licenses and Intangibles.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Rent Roll</font></b>&#148; has the meaning set forth in
Section 8(a)(xxiii).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Rent Shortfall Guaranty</font></b>&#148; has the meaning
set forth in Section 9(g).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Restricted Property</font></b>&#148; and &#147;<b><font style="font-weight:bold;">Restricted Properties</font></b>&#148; have the meanings
set forth in Section 19(a).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Scheduled Payment Date</font></b>&#148; means a scheduled
payment date under the Existing Floating Rate Debt.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Section 9 Leasing Costs</font></b>&#148; has the meaning
set forth in Section 9(g).</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11</font></p>

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</div>
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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Service</font></b>  <b><font style="font-weight:bold;">Contracts</font></b>&#148;
means all contracts, agreements, employment agreements, guarantees, warranties
and indemnities, if any, affecting the ownership, operation, management and
maintenance of the Land, Improvements, Appurtenant Rights, Personal Property
and Leases, other than contracts which are de minimis in the operation of the
applicable Property. The Service Contracts are set forth on <b><font style="font-weight:bold;">Schedule 8(a)(xi)</font></b> attached hereto.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Straddle Returns</font></b>&#148; has the meaning set forth
in Section 19.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Surveys</font></b>&#148; means the surveys of the
Properties listed on <b><font style="font-weight:bold;">Schedule 8(a)(xxxi)</font></b>.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Tax</font></b>&#148; or &#147;<b><font style="font-weight:bold;">Taxes</font></b>&#148;
mean all federal, state, county, local, foreign and other taxes of any kind
whatsoever (including, without limitation, income, profits, premium, estimated,
excise, sales, use, occupancy, gross receipts, franchise, ad valorem,
severance, capital levy, production, transfer, license, stamp, environmental,
withholding, employment, unemployment compensation, payroll related and
property taxes, import duties and other governmental charges or assessments),
whether or not measured in whole or in part by net income, and including
deficiencies, interest, additions to tax or interest, and penalties with
respect thereto, and including expenses associated with contesting any proposed
adjustment related to any of the foregoing.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Tax Cert Proceedings</font></b>&#148; has the meaning set
forth in Section 8(a)(xxx).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Tax Claim</font></b>&#148; has the meaning set forth in
Section 19.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Tax Returns</font></b>&#148; means any and all statements,
returns, reports and forms (including elections, declarations, claims for
refund, amendments, schedules, information returns or attachments thereto)
filed or required to be filed with a Governmental Authority with respect to
Taxes.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Tenant Estoppel</font></b>&#148; has the meaning set forth
in Section 9(j).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Thornall Interest</font></b>&#148; has the meaning set
forth in paragraph (E) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Thornall LLC Agreement</font></b>&#148; has the meaning set
forth in Section 8(a)(v).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Thornall Owner</font></b>&#148; has the meaning set forth
in paragraph (E) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Thornall Property</font></b>&#148; has the meaning set
forth in paragraph (E) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Thornall Transaction</font></b>&#148; has the meaning set
forth in paragraph (K) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Thornall Purchase Price</font></b>&#148; has the meaning
set forth in paragraph (M) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Title Clearance Date</font></b>&#148; has the meaning set
forth in Section 7(b).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Title Commitment</font></b>&#148; has the meaning set forth
in Section 7(a).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Title Company</font></b>&#148; has the meaning set forth in
Section 7(a).</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12</font></p>

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</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Title Election</font></b>&#148; has the meaning set forth
in Section 7(f).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">TOE Date</font></b>&#148; has the meaning set forth in
Section 5(a).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">TOE Declaration</font></b>&#148; has the meaning set forth
in Section 5(a).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">TOE Declarer</font></b>&#148; has the meaning set forth in
Section 5(a).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Total Purchase Price</font></b>&#148; has the meaning set
forth in paragraph (O) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Transaction</font></b>&#148; has the meaning set forth in
paragraph (K) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Troy Entities</font></b>&#148; has the meaning set forth in
paragraph (C) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Troy Properties</font></b>&#148; has the meaning set forth
in paragraph (C) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Troy JV</font></b>&#148; has the meaning set forth in
Section 20.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Troy Transaction</font></b>&#148; has the meaning set forth
in Section 20.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">TRS Sub</font></b>&#148; has the meaning set forth in
paragraph (J) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Unfunded Leasing Expenses</font></b>&#148; has the meaning
set forth in Section 15(i).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Unpermitted Exceptions</font></b>&#148; has the meaning set
forth in Section 7(b).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Waterview Interest</font></b>&#148; has the meaning set
forth in paragraph (E) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Waterview LLC Agreement</font></b>&#148; has the meaning
set forth in Section 8(a)(v).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Waterview Owner</font></b>&#148; has the meaning set forth
in paragraph (E) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Waterview Property</font></b>&#148; has the meaning set
forth in paragraph (E) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Waterview Transaction</font></b>&#148; has the meaning set
forth in paragraph (K) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b><font style="font-weight:bold;">Waterview Purchase Price</font></b>&#148; has the meaning
set forth in paragraph (L) of the Recitals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>AGREEMENT FOR CONTRIBUTION AND
SALE</u>.</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Mack-Cali
agrees to buy, and Portfolio Mezz agrees to sell, the Waterview Interest in
exchange for the Waterview Purchase Price and the Thornall Interest in exchange
for the Thornall Purchase Price, subject to the terms and conditions contained
herein, including prorations and adjustments.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Mack-Cali
agrees to buy, and Challenger Mezz agrees to sell, the Challenger Interest in
exchange for the Challenger Purchase Price, subject to the terms and conditions
contained herein, including prorations and adjustments.</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Gale
SLG agrees to contribute the Contributed Interest to JVLLC.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Mack-Cali
agrees to buy, and Gale SLG agrees to sell, the Mack-Cali Interest in exchange
for the Portfolio Purchase Price, subject to the terms and conditions contained
herein, including prorations and adjustments.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>DEPOSIT</u>.</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On or about
February 6, 2006, Mack-Cali deposited with Gale SLG the sum of $500,000 as an
initial deposit (the &#147;<b><font style="font-weight:bold;">Initial Deposit</font></b>&#148;)
in respect of the transaction contemplated by this Agreement and simultaneous
with the execution of this Agreement, Mack-Cali has deposited with Escrowee (as
hereinafter defined) cash or an unconditional irrevocable Letter of Credit (a &#147;<b><font style="font-weight:bold;">Letter of Credit</font></b>&#148;) in the amount of
$14,500,000.00 as an additional deposit (such additional deposit together with
the Initial Deposit, shall constitute the &#147;<b><font style="font-weight:bold;">Deposit</font></b>&#148;
in the aggregate amount of $15,000,000.00). Simultaneously with the execution
of this Agreement, Gale SLG shall transfer the Initial Deposit to Escrowee. Upon
the closing of the transaction contemplated by this Agreement, the Deposit and
all interest earned thereon shall be delivered to Gale SLG, Mezz or Challenger
Mezz, as determined by Gale SLG, and, to the extent in cash, shall be applied
against the portion of the Total Purchase Price due to Gale SLG, Mezz or
Challenger Mezz, as applicable. If the transaction does not so close, the Deposit
shall be disbursed in accordance with the terms of this Agreement.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>DUE DILIGENCE WAIVED; SPECIAL
GALE TERMINATION RIGHT</u>.</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Mack-Cali
has completed its due diligence with respect to the Properties, the Gale SLG
Entities and has no right to terminate or rescind this Agreement except as
expressly set forth herein.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>The
parties hereto acknowledge that Mack-Cali, or an affiliate thereof, is
currently pursuing a transaction (the &#147;<b><font style="font-weight:bold;">Services
Transaction</font></b>&#148;) pursuant to which it may acquire the membership
interests in The Gale Services Company, L.L.C. and The Gale Construction
Services Company, L.L.C. and certain of their subsidiaries (together,
collectively, the &#147;<b><font style="font-weight:bold;">Services Companies</font></b>&#148;),
as partially described in the Letter of Intent, dated February 6, 2006, from
Mitchell E. Hersh to Stanley C. Gale (as the same may be amended from time to
time to, among other things, include additional assets, the &#147;<b><font style="font-weight:bold;">Services LOI</font></b>&#148;). If Mack-Cali elects to
terminate the Services Transaction at any time during or at the expiration of
the Due Diligence Period (as defined in the Services LOI) for any reason other
than failure of the Services Companies to meet the GI Test, or if the Services
Transaction fails to close by reason of a failure by Mack-Cali or its
affiliates to satisfy any condition precedent to sellers&#146; obligations
thereunder, Gale SLG shall have the option of terminating this Agreement, by
notice to Mack-Cali within 10 Business Days after Mack-Cali&#146;s termination of
the Services LOI, and in the event of such termination by Gale SLG, the
Deposit, together with any interest earned thereon, shall promptly be returned
to Mack-Cali and this Agreement shall be of no further force or effect, except
for obligations that are expressly intended to survive the termination of this Agreement.
For purposes of this paragraph, the &#147;<b><font style="font-weight:bold;">GI Test</font></b>&#148;
shall mean that the annual aggregate gross income (as defined in the Membership
Interest Purchase Agreement in</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">connection with the Services Transaction) of
the Services Companies is equal to or in excess of $17,500,000.00.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>CLOSING</u>.</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Subject
to terms and conditions of this Agreement, the closing of the transaction
contemplated by this Agreement (the &#147;<b><font style="font-weight:bold;">Closing</font></b>&#148;)
shall take place on the date (the &#147;<b><font style="font-weight:bold;">Closing
Date</font></b>&#148;) which is the first Scheduled Payment Date the date (the &#147;<b><font style="font-weight:bold;">Assumption Approval Date</font></b>&#148;) which is five
(5) days after the approval of the Debt Assumption by the lenders under the
Existing Fixed Rate Debt; <u>provided</u> that, either the Gale SLG Transferors
or Mack-Cali may, by written notice to the other on or before such first
Scheduled Payment Date, extend the Closing until the second Scheduled Payment
Date after the Assumption Approval Date, and by further written notice on or
before such second Scheduled Payment Date, until the third Scheduled Payment
Date after the Assumption Approval Date. If all necessary conditions precedent
to Closing have been satisfied or waived, and the Closing has not occurred on
or before the Closing Date, as extended to the second or third Scheduled
Payment Date after the Assumption Approval Date, either the Gale SLG
Transferors or Mack-Cali (the &#147;<b><font style="font-weight:bold;">TOE Declarer</font></b>&#148;)
may, by written notice, declare that time is of the essence (a &#147;<b><font style="font-weight:bold;">TOE Declaration</font></b>&#148;), and if the other party
fails to Close on the next subsequent Scheduled Payment Date (such next
subsequent Payment Date, the &#147;<b><font style="font-weight:bold;">TOE Date</font></b>&#148;),
such party shall be deemed to be in default hereunder, and the TOE Declarer
shall be entitled to terminate this Agreement. If the Gale SLG Transferors are
the TOE Declarer and the Closing fails to occur on the TOE Date because
Mack-Cali is unable or unwilling to Close, the Gale SLG Transferors shall be
entitled to retain the Deposit and any interest earned thereon, as liquidated
damages. The Gale SLG Transferors and Mack-Cali agree it would be impractical
and extremely difficult to fix the damages which the Gale SLG Transferors would
suffer as a result of a default by Mack-Cali hereunder. Mack-Cali and the Gale
SLG Transferors hereby agree that (i) an amount equal to the Deposit (together
with any interest thereon) is a reasonable estimate of the total net detriment
the Gale SLG Transferors would suffer in the event Mack-Cali defaults and fails
to complete the purchase of the Challenger Interest, the Thornall Interest, the
Waterview Interest and the Mack-Cali Interest, and (ii) such amount will be the
full, agreed and liquidated damages for Mack-Cali&#146;s default and failure to
consummate the Transaction, and will be the Gale SLG Transferors&#146; sole and exclusive
remedy (whether at law or in equity) for any default of Mack-Cali resulting in
the failure of consummation of the Closing, whereupon this Agreement will be of
no further force or effect, except for those provisions which expressly survive
the termination hereof. The payment of such amount as liquidated damages is not
intended as a forfeiture or penalty but is intended to constitute liquidated
damages to the Gale SLG Transferors. Except as set forth above, the Gale SLG
Transferors expressly waive their rights to seek damages if the Closing and the
transactions contemplated hereby do not occur as herein provided by reason of
any default of Mack-Cali. If Mack-Cali is the TOE Declarer and the Closing
fails to occur on the TOE Date because Gale SLG Transferors are unable or
unwilling to Close and have no further right hereunder to adjourn the Closing
Date for the purposes of performing their obligations or satisfying conditions
precedent to Mack-Cali&#146;s obligation to Close hereunder, Mack-Cali at its option
may either (i) terminate this Agreement and direct Escrowee to return to
Mack-Cali the Deposit, together with any interest earned</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">thereon, and
upon such refund, this Agreement shall be deemed terminated and of no further
force or effect, except for those provisions that expressly survive termination
hereunder, and neither Mack-Cali nor Gale SLG Transferors shall have any
further right or liability against the other hereunder, or (ii) to seek
specific performance of the Gale Transferors&#146; obligation to execute the
documents required to convey the Challenger Interest, the Waterview Interest,
the Thornall Interest and the Mack-Cali Interest to Mack-Cali under this
Agreement, it being understood that the remedy of specific performance shall
not be available to enforce any other obligation of the Gale SLG Transferors
hereunder. Except as set forth above, Mack-Cali expressly waives its rights to
seek damages if the Closing and the transactions contemplated hereby do not
occur as herein provided by reason of any default or misrepresentation of the
Gale SLG Transferors. Mack-Cali shall be deemed to have elected to terminate
this Agreement and receive back the Deposit as its sole and exclusive remedy if
Mack-Cali fails to file suit for specific performance against the Gale SLG
Transferors in a court of competent jurisdiction on or before 45 days following
the TOE Date.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>At
Closing, Gale SLG and Mack-Cali shall make, or cause to be made, the deliveries
required of the Gale SLG Transferors under <b><font style="font-weight:bold;">Section
12</font></b> below. At Closing, Mack-Cali shall (i) pay the Waterview Purchase
Price and the Thornall Purchase Price to Portfolio Mezz in exchange for the
Waterview Interest and the Thornall Interest (ii) pay the Challenger Purchase
Price to Challenger Mezz in exchange for the Challenger Interest and (iii) pay
the Portfolio Purchase Price to Gale SLG in exchange for the Mack-Cali
Interest, in each case subject to the prorations and adjustments provided
herein.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>ESCROW</u>.</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Deposit
shall be held in escrow by the Title Company (&#147;<b><font style="font-weight:bold;">Escrowee</font></b>&#148;) in accordance with an escrow agreement in the form
attached hereto as <b><font style="font-weight:bold;">Exhibit&nbsp;F</font></b>
(the &#147;<b><font style="font-weight:bold;">Escrow Agreement</font></b>&#148;). Any fees
relating to the Escrow Agreement shall be borne one half by Gale SLG and one
half by Mack-Cali. The obligations of Mack-Cali and the Gale SLG Transferors
under this <b><font style="font-weight:bold;">Section&nbsp;6</font></b> shall
survive the Closing or termination of this Agreement.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>TITLE COMMITMENT</u>.</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Mack-Cali
has procured or will procure title commitments for each of the Properties
(collectively, the &#147;<b><font style="font-weight:bold;">Title Commitment</font></b>&#148;)
for owner&#146;s and lender&#146;s title insurance policies issued by Commonwealth Land
Title Insurance Company (the &#147;<b><font style="font-weight:bold;">Title Company</font></b>&#148;),
and shall deliver copies of same to Gale SLG upon receipt. Gale SLG shall have
the right to designate an additional title insurance company or companies to
act as co-insurer only with respect to 50% of the coverage under all of the
title insurance policies issued at Closing with respect to the Class&nbsp;B
Properties, it being understood that the Title Company shall act as &#147;lead
insurer&#148;.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Mack-Cali
may, at any time prior to Closing, but solely with respect to matters arising
after the date of the Title Commitment and added as exceptions thereto after
the date hereof and prior to Closing and any exceptions shown on an updated
survey obtained after the date hereof and prior to Closing and not shown on the
Surveys</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(collectively,
the &#147;<b><font style="font-weight:bold;">New Exceptions</font></b>&#148;), notify Gale
SLG in writing of any objections to such New Exceptions; provided that
Mack-Cali may not object to those matters described in <b><font style="font-weight:bold;">Sections 7(g)(i)-(ix)</font></b>. With respect to any
objections to title properly set forth in such notice, the Applicable Gale SLG
Transferor shall have the right, but not the obligation, until the date which
is ten (10) Business Days after being notified of such objection (the &#147;<b><font style="font-weight:bold;">Title Clearance Date</font></b>&#148;) to inform Mack-Cali
in writing of its intent to have any of such exceptions (collectively, the &#147;<b><font style="font-weight:bold;">Unpermitted Exceptions</font></b>&#148;) removed from the
Title Commitment or to have the Title Company omit, at the Applicable Gale SLG
Transferor&#146;s expense, such Unpermitted Exceptions from the Title Commitment. The
parties agree that the New Exceptions may include objections relating to title
searches and survey of a 0.561 acre lot (the &#147;<b><font style="font-weight:bold;">Parking
Field Lot</font></b>&#148;) at Block 230, Lot 1 adjacent to the 1280 Wall Street
West, Lyndhurst, New Jersey property. The Parking Field Lot appears to be
included in the common elements for the 1280 Wall condominium but no title
search or survey was provided or obtained for the Parking Field Lot prior to
the Date of Agreement.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>If
any Property shall be affected by any lien or other encumbrance which is not a
Permitted Exception and which may be discharged by the payment of an
ascertainable amount of money (which amount, in the aggregate for all such
encumbrances on all of the Properties, shall not exceed $1,000,000.00, subject
to the provisions of <b><font style="font-weight:bold;">Section 7(e)</font></b>)
then it shall be the Applicable Gale SLG Transferor&#146;s obligation to cause the
discharge of such lien or encumbrance at Closing, or, at the option of the
Applicable Gale SLG Transferor, to bond or escrow (or cause such bond or
escrow) for such lien or encumbrance in a manner sufficient to cause the Title
Company to remove same from the Title Commitment.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Subject
to <b><font style="font-weight:bold;">Section&nbsp;7(g)</font></b> below, in the
event there shall be any New Exceptions affecting the Properties other than (or
in amounts larger than) those required to be discharged or removed from the
Title Commitment pursuant to <b><font style="font-weight:bold;">Section 7(c)</font></b>
the Gale SLG Transferors shall have the following options, exercisable in their
sole and absolute discretion: (i) to cause the same to be removed from the
Title Commitment at Gale SLG Transferors&#146; sole cost and expense at or prior to
the Closing, in which case this Agreement shall remain in full force and effect
or (ii) to notify Mack-Cali that Gale SLG Transferors elect not to remove same,
in which case Mack-Cali shall have the right to either (A) terminate this
Agreement and Escrowee shall return the Deposit to Mack-Cali, together with
interest earned thereon as its sole and exclusive remedy, in which event this
Agreement shall be deemed terminated and of no further force or effect, except
for those provisions that expressly survive termination hereunder and neither
Mack-Cali nor the Gale SLG Transferors shall have any further right or
liability against the other hereunder, or (B) proceed to Close hereunder,
without credit or adjustment to any Purchase Price by reason of any such
exceptions (except that Mack-Cali shall be entitled to a credit to the extent
of any amount required to be applied to cure liens or encumbrances pursuant to <b><font style="font-weight:bold;">Section&nbsp;7(c)</font></b>).</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Notwithstanding
anything to the contrary contained in this <b><font style="font-weight:bold;">Section
7</font></b>, if there shall be (x) unbonded mechanics&#146; or materialman&#146;s liens
affecting any Property, other than those placed or caused by Tenants under the
Leases (or by parties claiming</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></p>

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</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">under such
Tenants) or other liens and encumbrances (other than Permitted Encumbrances),
whether or not in liquidated sums, which a Gale SLG Transferor has allowed to
be placed on such Property after the date hereof, including judgments and
federal state and municipal tax liens, or (y) any mortgages or instruments
securing or evidencing a payment obligation other than the Existing Fixed Rate
Debt and Existing Floating Rate Debt, and in each case which exist as of the
Closing Date then the applicable Gale SLG Transferor shall cause such
exceptions to be removed from the Title Commitment, at its sole cost and
expense, which shall not be subject to the limit provided in <b><font style="font-weight:bold;">Section 7(c)</font></b>.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Except
as otherwise provided herein, if the Applicable Gale SLG Transferor fails on or
before the Title Clearance Date to give written notice to Mack-Cali of its
intent to cause any of the Unpermitted Exceptions to be removed prior to
Closing, or omitted by the Title Company, then, Mack-Cali shall, as its sole
remedy, have the option (the &#147;<b><font style="font-weight:bold;">Title Election</font></b>&#148;)
to either (i) terminate this Agreement, in which case the parties hereto shall
have no further obligations hereunder (except for obligations that are
expressly intended to survive the termination of this Agreement), and receive a
return of the Deposit, together with any interest earned thereon, or (ii)
proceed with Closing, with no reduction in the amount of the Total Purchase
Price, and Mack-Cali shall be deemed to have waived any objection to the
Unpermitted Exceptions which the Gale SLG Transferors do not intend to cause to
be removed or omitted, and any other exceptions set forth in the Title
Commitment. If Mack-Cali fails to notify Gale SLG of its Title Election by the
earlier of the Closing Date or five (5) days after the Title Clearance Date,
Mack-Cali shall be deemed to have terminated this Agreement as set forth in
subclause (i) above. If the Applicable Gale SLG Transferor notifies Mack-Cali
of its intention to cure any such matters, the date for Closing may, at the
request Gale SLG, be extended by a reasonable additional time to effect such a
cure, but in no event shall the extension exceed sixty (60) days after the
original date for Closing.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>It
shall be a condition precedent to the obligation of Mack-Cali to proceed to
Closing hereunder that at Closing the applicable Owner shall hold fee title (or
in the case of Challenger Owner, a ground leasehold interest in the Challenger
Property) to the applicable Property free and clear of any and all mortgages,
liens, claims, leases, tenancies, occupants, encumbrances and easements, except
the following (collectively, &#147;<b><font style="font-weight:bold;">Permitted
Exceptions</font></b>&#148;):</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; All taxes, water
meter and water charges and sewer rents, accrued or unaccrued, fixed or not
fixed, becoming due and payable after the Closing Date, but subject to
adjustment as provided herein;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; All zoning laws and
building ordinances, resolutions, regulations and orders of all Governmental
Authorities;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Liens and security
interests securing the Existing Fixed Rate Debt;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Any exception shown
on the applicable Survey set forth on <b><font style="font-weight:bold;">Schedule&nbsp;8(a)(xxxi)</font></b>
and any additional exceptions any updates thereto would</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>

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</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">show, provided
that such additional exceptions do not prevent or interfere with the continued
use of the Properties as they are being used on the date hereof;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Any easement or
right of use created in favor of a public utility company for electricity,
steam, gas, telephone, water or other service, and the right thereunder to
install, use, maintain repair and replace wires, cables, terminal boxes, lines,
service connections, poles, mains, facilities and the like, upon, under and
across the applicable Property;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Any difference in
lot lines shown on an accurate survey and tax lot lines;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Non-material
violations of building ordinances, resolutions and regulations;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(viii)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Any other matters
set forth as exceptions to title in the existing owners&#146;, or in the case of the
Challenger Property, leasehold owner&#146;s, policies of title insurance held by the
Owners, dated July&nbsp;30, 2004 (in the case of the Portfolio Properties) and
May 16, 2005 (in the case of the Challenger Property), and provided to
Mack-Cali, which policies are set forth on <b><font style="font-weight:bold;">Schedule
7(g)(viii)</font></b>;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ix)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Any Exception set
forth in the Title Commitment and not objected to as provided in <b><font style="font-weight:bold;">Section 7(b)</font></b> and matters otherwise approved
or deemed approved in accordance with this Agreement; and</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(x)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Any Unpermitted
Exception that has been waived as provided in <b><font style="font-weight:bold;">Section
7(d) </font></b>or<b><font style="font-weight:bold;"> (f)</font></b>.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>If
at the Closing it should appear that the applicable owner&#146;s or leasehold owner&#146;s
title to any Property is subject to any exception other than the Permitted
Exceptions, and if such exception may, according to reasonable expectations, be
removed as an objection to title within 60 days<b><i><font style="font-style:italic;font-weight:bold;"> </font></i></b>after the scheduled Closing Date, Gale
SLG may adjourn the Closing Date for a period not exceeding 60 days in the
aggregate for such purpose.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Subject
to the other provisions of this <b><font style="font-weight:bold;">Section&nbsp;7</font></b>,
after any applicable adjournment, the relevant Owner does not hold title to
each Property subject to and in accordance with the provisions of this
Agreement, Mack-Cali shall have the right to waive the defect in title and
Close without a reduction in Total Purchase Price, or terminate this Agreement
by written notice to Gale SLG, whereupon the Deposit and all interest earned
thereon shall be refunded to Mack-Cali and the parties shall thereafter have no
further rights or obligations hereunder except with respect to those provisions
of this Agreement that expressly survive termination.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(j)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Notwithstanding
the foregoing provisions of this <b><font style="font-weight:bold;">Section 7</font></b>,
in the event that the Title Company shall raise an exception to title which is
not a Permitted Exception, the Gale SLG Transferors shall have no obligation to
cause such exception to be eliminated and Mack Cali shall have no right to
terminate the Agreement by reason of</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19</font></p>

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</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">such exception
if the Title Company (or any other reputable title insurance company licensed
to issue title insurance in the State of New York) shall be prepared to omit
such exception, at no additional cost or expense (unless the Gale SLG
Transferors shall agree, in the Gale SLG Transferors&#146; sole discretion, to
assume any such additional cost or expense).</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(k)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Mack-Cali
acknowledges that it has received copies of the current owner&#146;s title insurance
policies (the &#147;<b><font style="font-weight:bold;">Class C Policies</font></b>&#148;)
with respect to the properties in which the Class C Entities hold an indirect
ownership interest (the &#147;<b><font style="font-weight:bold;">Class C Properties</font></b>&#148;).
Mack-Cali shall have no right of objection to any exception contained therein
and the Gale SLG Transferors shall have no obligation to remove any exception
contained therein or any encumbrance placed upon any Class C Property at any time.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(l)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Any
owner&#146;s title insurance policies procured at the Closing shall be at Mack-Cali&#146;s
sole cost and expense.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(m)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>At
Closing, if requested by the Title Company, the Applicable Gale SLG Transferor
or Gale SLG Entity shall execute and deliver a normal, customary title
affidavit to the Title Company in substantially the form attached hereto as <b><font style="font-weight:bold;">Exhibit&nbsp;E</font></b>.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>REPRESENTATIONS AND WARRANTIES</u>.</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>The
Gale SLG Transferors represent and warrant to Mack-Cali, as of the Date of
Agreement, as follows:</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (A) Each of the
Gale SLG Entities and each Gale SLG Transferor is duly organized, validly
existing and in good standing under the laws of the State of their formation
and each Owner is qualified to do business in the State in which the Property
owned by it is located and any other jurisdictions where qualification to do
business is necessary. (B) Each of the Gale SLG Transferors has all necessary
right, power and authority to execute, enter into and deliver this Agreement
and to consummate all of the transactions contemplated herein. (C) The
individuals executing this Agreement on behalf of the Gale SLG Transferors (or
on behalf of partners, members or managers of the Gale SLG Transferors) are
duly authorized to enter into, execute, deliver and perform this Agreement on
behalf of the Gale SLG Transferors (or on behalf of partners, members or
managers of the Gale SLG Transferors) and to bind the Gale SLG Transferors. No
consent of any third party (other than lender consents in connection with the
Debt Assumption) that has not been or will not prior to the Closing be obtained
is required in order for the Gale SLG Transferors and the Gale SLG Entities to
consummate the Transaction. (D) The organizational chart set forth as <b><font style="font-weight:bold;">Exhibit B-1</font></b> attached hereto accurately sets
forth the ownership structures of the Gale SLG Transferors and the Gale SLG
Entities and certain of their affiliates shown thereon as of the date hereof,
subject to the provisions of <b><font style="font-weight:bold;">Section 21</font></b>.
(E) This Agreement and all documents to be executed by the Gale SLG Transferors
or any of the Gale SLG Entities and delivered to Mack-Cali hereunder (1) are
or, at the time of such execution and delivery, will be the legal, valid and
binding</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">obligations of
such Gale SLG Transferors or such Gale SLG Entities, enforceable against such
parties in accordance with their terms, (2) do not or, at the time of such
execution and delivery, will not contravene any provision of such Gale SLG
Transferor&#146;s or such Gale SLG Entity&#146;s organizational documents (including,
without limitation, restrictions on transfer, if any, set forth in operating
agreements, partnership agreements, shareholders&#146; agreements, by-laws and the
like of any of the Gale SLG Transferors or the Gale SLG Entities) or any
existing laws and regulations applicable to such Gale SLG Transferors or such
Gale SLG Entities or any of the Properties and (3) do not and will not conflict
with or result in a violation of any material agreement, instrument, order,
writ, judgment or decree to which such Gale SLG Transferors or such Gale SLG
Entities is a party or is subject or which is binding upon it or its Property;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Intentionally
Omitted.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The total number of
outstanding OP Units (as defined in the OP Partnership Agreement) is
34,100,052; the total number of outstanding GP Units (as defined in the OP
Partnership Agreement) is 327,508 and the total number of outstanding Preferred
GP Units (as defined in the OP Partnership Agreement) is 1,364,723. Gale SLG
holds 32,754,800 OP Units. The GP holds 327,508 GP Units and 1,364,723
Preferred GP Units. Other than by reason of redemption of limited partners of
the OP, as set forth in the OP Partnership Agreement, redemption of the
Preferred GP Units, at Closing, and additional OP Units that may be issued to
the GP or to Gale SLG in the event they contribute additional common equity to
the OP, as permitted by the terms and provisions of the OP Partnership
Agreement, there shall continue to be an aggregate total of 34,100,052 OP Units
outstanding at Closing. At Closing all Preferred GP Units will be redeemed and
converted to OP Units. Gale SLG, together with its wholly-owned subsidiary, the
GP, is the legal and beneficial owner and holder of the Contributed Interest
and as of Closing the Contributed Interest will be held by JVLLC free and clear
of any lien, pledge, security interest, claim or encumbrance of any nature
(collectively, &#147;<b><font style="font-weight:bold;">Encumbrances</font></b>&#148;)
and, except as set forth in the OP Partnership Agreement, the GP Operating Agreement,
the Contribution and Subscription Agreements made by the limited partners of
the OP other than Gale SLG (collectively, the &#147;<b><font style="font-weight:bold;">Contribution and Subscription Agreements</font></b>&#148;), which Contribution
and Subscription Agreements are described on <b><font style="font-weight:bold;">Schedule
8(a)(iii), </font></b>and the liens of the Existing Fixed Rate Debt, the
Existing Floating Rate Debt and the Existing Mezz Debt, there are no
Encumbrances, fixed or contingent, that directly or indirectly, (x) provide for
the sale, pledge or other transfer or disposition of interests in the GP, the
OP, Challenger Mezz, Portfolio Mezz or the Owner or any rights with respect
thereto, or relate to the voting, disposition, exercise, or control of any of
such interests or (y) obligate Gale SLG, JVLLC, the GP, the OP, Challenger Mezz,
Portfolio Mezz or any Owners to grant, offer or enter into any of the
foregoing.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Neither Gale SLG nor
the GP has granted, or caused the OP or the GP, as the case may be, to grant,
any option, warrant, subscription, or rights of</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21</font></p>

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</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">conversion or
exchange, equity or otherwise, that would obligate the OP to issue additional
GP Units or OP Units except as set forth in the OP Partnership Agreement and
the Contribution and Subscription Agreements or that would obligate the GP the
issue additional membership interests in the GP.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Portfolio Mezz is
the owner and holder of the Waterview Interest and the Thornall Interest and at
Closing the Waterview Interest and the Thornall Interest shall be held by Portfolio
Mezz free and clear of any Encumbrance, except as set forth in the Limited
Liability Company Agreement of Portfolio Mezz or the Limited Liability Company
Agreement Waterview Owner (the &#147;<b><font style="font-weight:bold;">Waterview LLC
Agreement</font></b>&#148;) or Thornall Owner (the &#147;<b><font style="font-weight:bold;">Thornall LLC Agreement</font></b>&#148;), as the case may be.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; None of Gale SLG,
the OP, the GP or Portfolio Mezz has granted any option, warrant, subscription,
or rights of conversion or exchange, equity or otherwise, that would obligate
the Waterview Owner or the Thornall Owner to issue additional membership
interests.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Challenger Mezz is
the owner and holder of the Challenger Interest and at Closing the Challenger
Interest shall be held by Challenger Mezz free and clear of any Encumbrance.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(viii)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Challenger Mezz has
not granted, or caused Challenger Owner to grant, any option, warrant,
subscription, or rights of conversion or exchange, equity or otherwise, that
would obligate the Challenger Owner to issue additional membership interests.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ix)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Applicable Gale
SLG Transferor, has delivered or made available to Mack-Cali true and complete
copies (in either paper or electronic form) of the organizational documents of
each of the Gale SLG Entities (other than Challenger Mezz) and the subsidiaries
of the Class C Entities, if any, (the &#147;<b><font style="font-weight:bold;">Organizational
Documents</font></b>&#148;) subject, in the case of the Organizational Documents of
the Troy Entities, to the provisions of <b><font style="font-weight:bold;">Section
21</font></b>. The Organizational Documents, are true, complete and correct and
constitute all of the material documents, agreements and instruments with
respect to the formation, governance, management and organization of each of
the Gale SLG Entities. The Organizational Documents have not been amended,
modified, supplemented, terminated or otherwise changed.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(x)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Leases set
forth on <b><font style="font-weight:bold;">Schedule 8(a)(x)</font></b>
constitute all of the Leases with respect to use and occupancy affecting any
Property on the date hereof (except as a result of any subleases of portions of
any Property). True, accurate and complete copies of the Leases have been
provided or made available to Mack-Cali. Except as disclosed in writing to
Mack-Cali, no Gale SLG Transferor or Gale SLG Entity has received any material
written notices of default by the applicable landlord under any Lease which
remain uncured. The Leases are valid and bona fide obligations of the landlord
thereunder and are in full force</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22</font></p>

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</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and effect. Except
as disclosed in writing to Mack-Cali, no Gale SLG Transferor or Gale SLG Entity
has given or received any written notices of default by the applicable tenant
under an Lease which remain uncured. Except as expressly set forth in the
Leases, no tenant is entitled to now or in the future any concession, rebate,
offset, allowance or free rent for any period nor has any such claim been
asserted in writing by any tenant.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xi)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The contracts
listed on <b><font style="font-weight:bold;">Schedule 8(a)(xi)</font></b>,
constitute all of the Service Contracts to which any of the Owners, Portfolio
Mezz, the OP or the GP is party. True, accurate and complete copies of such
Service Contracts have been provided or made available to Mack-Cali.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; All Service
Contracts are cancelable on thirty (30) days notice without penalty or premium.
All sums presently due and payable under the Service Contracts will be paid as
of the Closing Date.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xiii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The brokerage
agreements set forth on <b><font style="font-weight:bold;">Schedule 8(a)(xiii)</font></b>
are all of the Brokerage Agreements with respect to the Properties. True,
accurate and complete copies of the Brokerage Agreements have been provided or
made available to Mack-Cali.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xiv)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Except as set forth
on <b><font style="font-weight:bold;">Schedule 8(a)(xiv)</font></b>, there are
no lawsuits or proceedings pending or threatened in writing against any Gale
SLG Entity or affecting the Properties or the operations or assets of any Gale
SLG Entity, other than claims fully covered by insurance. There are no lawsuits
pending or threatened in writing against the Gale SLG Transferors which would
prevent the consummation of this transaction.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Gale SLG Transferors
will cause the accountants to the Gale SLG Entities to furnish Mack-Cali with
(i) true and complete copies of the audited consolidated balance sheet and
income statement as of and for the fiscal year ended December 31, 2004 for the
Gale SLG Entities (the &#147;<b><font style="font-weight:bold;">2004 Financial
Statements</font></b>&#148;) and (ii) preliminary unaudited balance sheets and
income statements for the Gale SLG Entities (consolidated) and for Challenger
Mezz as of and for the fiscal year ended as of December 31, 2005 (the &#147;<b><font style="font-weight:bold;">2005 Financial Statements</font></b>&#148;). The 2004
Financial Statements will be prepared in accordance with GAAP applied on a
consistent basis throughout the periods covered thereby and will present
fairly, in all material respects, the financial condition of the Gale SLG
Entities as of such dates and the results of operations for the Gale SLG
Entities as of the dates thereof or the periods covered thereby. The 2005
Financial Statements will be prepared in accordance with the books and records
of the Gale SLG Entities, but lack footnotes and other presentation items
required under GAAP and will be subject to further review and adjustment.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xvi)&#160;&#160;&#160;&#160;&#160;&#160;&#160; There are no
Liabilities of the Gale SLG Entities of any nature other than Liabilities (a)
expressly set forth in this Agreement and the Schedules hereto or (b) otherwise
permitted to be incurred under this Agreement. From and</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23</font></p>

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</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">after Closing,
the Gale SLG Entities shall not be subject to any Liabilities other than (x)
those assumed by Mack-Cali or the Post-Closing Owners pursuant to the
provisions of this Agreement and (y) those to which a purchaser of the
Properties would be subject, had such a purchaser acquired the Properties by
deed (or by assignment of leasehold interest, as applicable), rather than by
acquiring interests in the Gale SLG Entities, pursuant to a contract of sale
containing representations and warranties with respect to the Properties
substantially the same as those set forth herein, as limited by <b><font style="font-weight:bold;">Section 16(a)</font></b> hereof. The Gale SLG
Transferors shall remain liable for the OP Percentage Share as of the Closing
Date for any and all liabilities of the Gale SLG Entities related to periods
prior to Closing, other than as set forth in the preceding sentence.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xvii)&#160;&#160;&#160;&#160;&#160;&#160; Except for the
Existing Fixed Rate Debt, the Existing Floating Rate Debt, the Challenger Mezz
Debt, and the Portfolio Mezz Debt, none of the Gale SLG Entities has any
indebtedness for borrowed money and none of the Gale SLG Entities has
guaranteed the debt of any other person or entity.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xviii)&#160;&#160;&#160;&#160;&#160; Except as set forth
in the organizational chart attached as <b><font style="font-weight:bold;">Exhibit
B-1</font></b> and on <b><font style="font-weight:bold;">Schedule 8(a)(xviii)</font></b>,
the Gale SLG Entities do not own capital stock or equity interests in any other
corporation, partnership, limited liability company or entity.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xix)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; All undisputed bills
and claims for labor performed and materials furnished to or for the account of
the applicable Owner of any Property arising prior to the Closing Date will be
paid in full by such Owner in the ordinary course of business.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xx)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; None of the Gale SLG
Entities has or has ever had any employees.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxi)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Gale SLG
Transferors have provided or made available to Mack-Cali all tenant
correspondence files in their possession or control with respect to the
Properties.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxii)&#160;&#160;&#160;&#160;&#160;&#160;&#160; <b><font style="font-weight:bold;">Schedule 8(a)(xxii)</font></b> contains a true,
accurate and complete schedule of all obligations for leasing commissions and
tenant improvements, affecting any Property. Other than as set forth on <b><font style="font-weight:bold;">Schedule 8(a)(xxii)</font></b>, there are as of the
date hereof no obligations for leasing commissions or tenant improvements
affecting any Property.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxiii)&#160;&#160;&#160;&#160;&#160;&#160; All items of
Personal Property are now owned by such Owner free and clear of any conditional
bills of sale, chattel mortgages, security agreements or financing statements
or other security interests of any kind, except the liens of the Existing Fixed
Rate Debt, the Existing Floating Rate Debt and the Existing Mezz Debt and at
Closing all items of Personal Property shall be held by such Owner free and
clear of any conditional bills of sale, chattel mortgages, security agreements
or financing statements or other security interests of any kind except for the
liens securing the Existing Fixed Rate Debt.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">24</font></p>

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</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxiv)&#160;&#160;&#160;&#160;&#160;&#160; The principal balance
outstanding under the Existing Fixed Rate Debt as of the date hereof is as set
forth on <b><font style="font-weight:bold;">Schedule 8(a)(xxiv)</font></b>. No
Gale SLG Transferor or Gale SLG Entity has received written notice of any
default under the Existing Fixed Rate Debt which remains uncured. <b><font style="font-weight:bold;">Schedule 12(c)</font></b> sets forth all material
documents evidencing and securing the Existing Fixed Rate Debt. True correct
and complete copies of such documents have been provided to Mack-Cali.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxv)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Mack-Cali has been
provided with a true, correct and complete copy of the Challenger Ground Lease,
which has not been amended. Neither Challenger Mezz nor Challenger Owner has
received written notice of any default under the Challenger Ground Lease which
remains uncured.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxvi)&#160;&#160;&#160;&#160;&#160;&#160; The Rent Roll
attached hereto as <b><font style="font-weight:bold;">Schedule 8(a)(xxvi) </font></b>(the
<b><font style="font-weight:bold;">&#147;Rent Roll</font></b>&#148;) is true, accurate and
complete in all material respects as of the date thereof and sets forth, to
Gale SLG&#146;s knowledge, all arrearages with respect to the Leases as of the date
hereof.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxvii)&#160;&#160;&#160;&#160;&#160; No Owner has received
written notice from any Governmental Authority that any of the Licenses is
subject to, or in jeopardy of, cancellation or non-renewal. True, correct and
complete copies of Licenses that are within the possession or control of the
Gale SLG Transferors have been provided or made available to Mack Cali.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxviii)&#160;&#160;&#160;&#160; No Owner has received
written notice from a Governmental Authority of violation of any Environmental
Law that has not been cured.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxix)&#160;&#160;&#160;&#160;&#160;&#160; No Gale SLG Entity
has received written notice from any Governmental Authority of (i) any pending,
threatened or contemplated annexation or condemnation proceedings, or private
purchase in lieu thereof, affecting or which may affect any Property, or any
part thereof, (ii) any proposed or pending proceeding to change or redefine the
zoning classification of all or any part of any Property, (iii) any proposed or
pending special assessments affecting any Property or any portion thereof, (iv)
any penalties or interest due with respect to real estate taxes assessed
against any Property and (v) any proposed change(s) in any road or grades with
respect to the roads providing a means of ingress and egress to any Property.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxx)&#160;&#160;&#160;&#160;&#160;&#160;&#160; <b><font style="font-weight:bold;">Schedule 8(a)(xxx)</font></b> sets forth all pending
proceedings for tax certiori (the &#147;<b><font style="font-weight:bold;">Tax Cert
Proceedings</font></b>&#148;) with respect to any of the Properties.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxxi)&#160;&#160;&#160;&#160;&#160;&#160; <b><font style="font-weight:bold;">Schedule 8(a)(xxxi)</font></b> sets forth all current
surveys with respect to the Properties that are in the possession or control of
the Gale SLG Transferors. Complete copies of the surveys on <b><font style="font-weight:bold;">Schedule 8(a)(xxxi)</font></b> have been provided or
made available to Mack-Cali.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxxii)&#160;&#160;&#160;&#160;&#160; Except as otherwise
set forth on <b><font style="font-weight:bold;">Schedule 8(a)(xxxii)</font></b>,
each of the OP, the GP, Portfolio Mezz or any subsidiaries of the foregoing,
have at all times</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">25</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">been
classified and treated as a partnership or disregarded entity and not as an
association taxable as a corporation for federal income tax purposes in each
state and local jurisdiction in which it files Tax Returns.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxxiii)&#160;&#160;&#160;&#160; None of the OP, the
GP, Portfolio Mezz or any subsidiaries of the foregoing is subject to any private
letter ruling of the IRS or comparable rulings of another taxing authority.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxxiv)&#160;&#160;&#160;&#160; None of the Gale SLG
Transferors is a foreign person within the meaning of Section 1445 of the Code
or any other laws requiring withholding of amounts paid to foreign persons.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxxv)&#160;&#160;&#160;&#160;&#160; No agreement or waiver
extending any statute of limitations on or extending the period for the
assessment or collection of any Tax has been executed or filed on behalf of or
with respect to the OP, the GP, Portfolio Mezz or any subsidiaries of the
foregoing. No power of attorney on behalf of the Gale SLG Entities with respect
to any Tax matter is currently in place.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notwithstanding
anything to the contrary contained in this Agreement, (a) Gale SLG Transferors
do not represent or warrant that any Lease will be in force or effect at
Closing, that any tenant will have performed its obligations under its Lease or
that any tenant will not be the subject of bankruptcy proceedings and (b) the
existence of any default by a tenant, the failure by a tenant to perform its
obligations under its Lease, the termination of any Lease prior to Closing by
reason of the tenant&#146;s default or the existence of bankruptcy proceedings
pertaining to any tenant shall not affect Mack-Cali&#146;s obligation to close or any
other obligation hereunder or entitle Mack-Cali to an abatement of or credit
against the Total Purchase Price or give rise to any other claim on the part of
Mack-Cali.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Mack-Cali
represents and warrants to the Gale SLG Transferors, now and again on the
Closing Date, that:&#160; (i) Mack-Cali is
duly organized, validly existing and in good standing under the laws of its
State of formation and any other jurisdictions where qualification to do
business is necessary, (ii)&nbsp;Mack-Cali has all necessary right, power and
authority to enter into, execute and deliver this Agreement and to consummate
all the transactions contemplated herein, (iii) the individual(s) executing
this Agreement on behalf of Mack-Cali are duly authorized to enter into,
execute, deliver and perform this Agreement on behalf of Mack-Cali and to bind
Mack-Cali, and no consent of any third party that has not been and will not be
obtained is required in order for Mack-Cali to consummate the Transaction, (iv)
the organizational chart set forth as <b><font style="font-weight:bold;">Exhibit
B-2</font></b> attached hereto accurately sets forth the ownership structures
of Mack-Cali and certain of its affiliates shown thereon and (v)&nbsp;this
Agreement and all documents to be executed by Mack-Cali and delivered to the
Gale SLG Transferors hereunder (A) are or, at the time of such execution and
delivery, will be the legal, valid and binding obligations of Mack-Cali,
enforceable against Mack-Cali in accordance with their terms, (B) do not or, at
the time of such execution and delivery, will not contravene any provision of
Mack-Cali&#146;s organizational documents or any existing laws and regulations
applicable to Mack-Cali and (C) do not or will not, at the time of such
execution and delivery, conflict with or</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">result in a
violation of any agreement, instrument, order, writ, judgment or decree to
which Mack-Cali is a party or is subject.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>To
the extent that Mack-Cali has Knowledge prior to the execution of this
Agreement that any of the Gale SLG Transferors&#146; representations and warranties
are inaccurate, untrue or incorrect in any way, such representations and
warranties shall be deemed modified to reflect such Knowledge, as the case may
be. For purposes of this Agreement, Mack-Cali shall have &#147;<b><font style="font-weight:bold;">Knowledge</font></b>&#148; of a particular fact, if any of
Mitchell Hersh, Roger Thomas and Barry Lefkowitz has actual knowledge of such
fact without any implication of verification or investigation concerning such
knowledge.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>No
Gale SLG Transferor shall have any liability in connection with this Agreement
by reason of an inaccuracy of a representation or warranty, if and to the
extent that Mack-Cali has Knowledge thereof (as provided herein) at the time of
the Closing and Mack-Cali elects, nevertheless, to cause the transactions contemplated
by this Agreement to be consummated.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>The
parties hereby expressly acknowledge and agree that, except as set forth in
this Agreement, as reliance thereon and enforcement thereof may be limited in
this Agreement, no party, nor anyone acting for or on behalf of any party, has
made any oral or written representation, warranty, covenant, agreement, promise
or statement, express or implied, to the other party, or to anyone acting for
or on behalf of the other party, and no party has, except as provided in this
Agreement, relied on, and shall not be entitled to rely on same.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>No
Further Representations.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; In entering into
this Agreement, Mack-Cali has not been induced by and has not relied upon any
written or oral representations, warranties or statements, whether express or
implied, made by any of the Gale SLG Transferors or the Gale SLG Entities or by
any broker or any other person representing or purporting to represent any of
the Gale SLG or the Gale SLG Entities, with respect to the Properties, the
Contributed Interest, the Thornall Interest, the Waterview Interest, the
Challenger Interest, the Mack-Cali Interest, the Condition of the Interest (as
hereinafter defined), the Class C Assets, or any other matter affecting or
relating to the transactions contemplated by this Agreement, other than those
expressly set forth in this Agreement. Mack-Cali acknowledges and agrees that,
except as expressly set forth herein, the Gale SLG Transferors make no
representations or warranties whatsoever, whether express or implied or arising
by operation of law, with respect to the Properties, the Contributed Interest,
the Waterview Interest, the Thornall Interest, the Challenger Interest, the
Mack-Cali Interest, the Condition of the Interest or the Class C Assets. Except
as otherwise set forth herein, Mack-Cali agrees that the Contributed Interest
will be contributed to JVLLC and the Mack-Cali Interest, the Waterview Interest
the Thornall Interest, and the Challenger Interest will be sold to Mack-Cali at
the Closing in the then-existing Condition of the Interest of the Mack-Cali
Interest, the Waterview Interest, the Thornall Interest and the Challenger
Interest,</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">27</font></p>

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</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">respectively,
AS IS, WHERE IS, WITH ALL FAULTS, AND WITHOUT ANY WRITTEN OR ORAL
REPRESENTATIONS OR WARRANTIES WHATSOEVER, WHETHER EXPRESS OR IMPLIED OR ARISING
BY OPERATION OF LAW, other than representations and warranties of the Gale SLG
Transferors expressly set forth in this Agreement. Without limiting the
generality of the foregoing, except for the representations and warranties of
the Gale SLG Transferors contained in this Agreement, the transactions
contemplated by this Agreement are without statutory, express or implied
warranty, representation, agreement, statement or expression of opinion of or
with respect to (i) the Condition of the Interest or any aspect thereof,
including, without limitation, any and all statutory, express or implied
representations or warranties related to the suitability for habitation,
merchantability, or fitness for a particular purpose, (ii) the nature or
quality of construction, structural design or engineering of the improvements
included in the Properties, (iii) the quality of labor or materials included in
the improvements included in the Properties, (iv) the soil conditions,
drainage, topographical features, flora, fauna, or other conditions of or which
affect the Properties, (v) any conditions at or which affect the Properties
with respect to a particular use, purpose, development, potential or otherwise,
(vi) areas, size, shape, configuration, location, access, capacity, quantity,
quality, cash flow, expenses, value, condition, make, model, composition,
accuracy, completeness, applicability, assignability, enforceability,
exclusivity, usefulness, authenticity or amount, and (vii) any environmental,
botanical, zoological, hydrological, geological, meteorological, structural, or
other condition or hazard or the absence thereof heretofore, now or hereafter
affecting in any manner the Properties. By executing this Agreement, Mack-Cali
shall be deemed to acknowledge that Mack-Cali has had sufficient opportunity to
examine all aspects of the Contributed Interest, the Mack-Cali Interest, the
OP, the Waterview Interest, Waterview Owner, the Thornall Interest, Thornall
Owner, the Challenger Interest, Challenger Owner, the Properties and the Class
C Assets and has knowledge and expertise in financial and business matters that
enable Mack-Cali to evaluate the merits and risks of the transactions
contemplated by this Agreement.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; For purposes of
this Agreement, the term &#147;<b><font style="font-weight:bold;">Condition of the
Interest</font></b>&#148; means the following matters:</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(A)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Physical Condition
of the Properties</u>. The quality, nature and adequacy of the physical
condition of the Properties, including, without limitation, the quality of the
design, labor and materials used to construct the Improvements; the condition
of structural elements, foundations, roofs, glass, mechanical, plumbing,
electrical, HVAC, sewage, and utility components and systems; the capacity or
availability of sewer, water, or other utilities; the geology, flora, fauna,
soils, subsurface conditions, groundwater, landscaping, and irrigation of or
with respect to the Properties, the location of the Properties in or near any
special taxing district, flood hazard zone, wetlands area, protected habitat,
geological fault or subsidence zone, hazardous waste disposal or clean-up site,
or</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">28</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.5in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">other special
area, the existence, location, or condition of ingress, egress, access, and
parking; the condition of the personal property and any fixtures located on or
at the Properties; and the presence of any asbestos or other Hazardous
Materials, dangerous, or toxic substance, material or waste in, on, under or
about the Properties and the improvements located thereon. &#147;<b><font style="font-weight:bold;">Hazardous Materials</font></b>&#148; means (A)&nbsp;those
substances included with the definitions of any or more of the terms &#147;hazardous
substances,&#148; &#147;toxic pollutants&#148;, &#147;hazardous materials&#148;, &#147;toxic substances&#148;, and
&#147;hazardous waste&#148; in the Comprehensive Environmental Response, Compensation and
Liability Act, 42 U.S.C. &#167;&nbsp;9601 et seq. (as amended), the Hazardous
Materials Transportation Act, as amended, 49 U.S.C. Sections 1801 et seq., the
Resource Conservation and Recovery Act of 1976 as amended, 42 U.S.C.
Section&nbsp;6901 et seq., Section&nbsp;311 of the Clean Water Act, the New
Jersey Environmental Rights Act, N.J.S.A. 2A:35A-1 et seq., the New Jersey
Spill Compensation and Control Act, N.J.S.A. 58:10-23.11 et seq., the
Industrial Site Recovery Act, N.J.S.A. 13:1K-6 et seq., the New Jersey
Underground Storage of Hazardous Substances Act, N.J.S.A. 58:10A-21 et seq.,
and any similar state or federal laws or any regulations issued under any such
laws and (B)&nbsp;petroleum, radon gas, lead based paint, asbestos or asbestos
containing material and polychlorinated biphenyls.</font></p>

<p style="margin:0in 0in .0001pt 1.5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(B)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Adequacy of the
Properties</u>. The economic feasibility, cash flow and expenses of the OP and
any of its subsidiaries, Waterview Owner, Thornall Owner, Challenger Owner and
the Class C Assets, and habitability, merchantability, fitness, suitability and
adequacy of the Properties for any particular use or purpose.</font></p>

<p style="margin:0in 0in .0001pt 1.5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(C)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Insurance</u>. The
availability, cost, terms and coverage of liability, hazard, comprehensive,
terrorism and any other insurance of or with respect to the Properties.</font></p>

<p style="margin:0in 0in .0001pt 1.5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(D)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Condition of Title</u>.
The condition of title to the Properties, including, without limitation,
vesting, legal description, matters affecting title, title defects, liens,
encumbrances, boundaries, encroachments, mineral rights, options, easements,
and access; violations of restrictive covenants, zoning ordinances, setback
lines, or development agreements; the availability, cost, and coverage of title
insurance; leases, rental agreements, occupancy agreements, rights of parties
in possession of, using, or occupying the Properties; and standby fees, taxes,
bonds and assessments.</font></p>

<p style="margin:0in 0in .0001pt 1.5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(E)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Information</u>. Except
as expressly set forth in this Agreement, all materials and documents, if any,
which have been provided by or on behalf of any of the Gale SLG Transferors or
the Gale SLG Entities or any related parties have been provided without any
warranty or representation, express or implied, as to their content, suitability
for any</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">29</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.5in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">purpose,
accuracy, truthfulness or completeness, and Mack-Cali shall not have any
recourse against any Person in the event of any errors therein or omissions
therefrom. None of the Gale SLG Transferors or the Gale SLG Entities shall be
liable or bound in any manner whatsoever by any guarantees, promises,
projections, operating expenses, set-ups or other information pertaining to the
Contributed Interest, the OP, any Gale SLG Entity, the Waterview Interest, the
Thornall Interest, the Challenger Interest, the Properties or the Class C
Assets made, furnished or claimed to have been made or furnished, whether
orally or in writing, by the Gale SLG Transferors or the Gale SLG Entities or
other Person representing or purporting to represent any of the Gale SLG
Transferors or the Gale SLG Entities.</font></p>

<p style="margin:0in 0in .0001pt 1.5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The provisions of
this <b><font style="font-weight:bold;">Section 8(f)</font></b> shall survive
the Closing.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>GALE SLG COVENANTS.</u></font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">From and after
the Date of Agreement through the Closing Date, the Gale SLG Transferors shall
or shall cause the Gale SLG Entities to, at the Gale SLG Transferors&#146; expense:</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Operate
and maintain the Properties in the ordinary course of business, normal wear and
tear and casualty and condemnation excepted, and not commit waste with respect
thereto, it being understood that this covenant shall include, without
limitation, an obligation to pursue the cure of violations and open permits in
the ordinary course of business.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Keep
in full force and effect all hazard, liability and casualty, fire and extended
coverage insurance policies, and all public liability insurance policies, that
are in existence as of the date hereof with respect to the Properties (or
substitute policies that are equivalent thereto).</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Except
as permitted herein or as approved in writing by Mack-Cali, not sell, encumber
or grant any interest in the Properties or the Gale SLG Entities, or any part
thereof, in any form or manner whatsoever.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Pay
all taxes and special assessments levied against or incurred in connection with
the ownership or operation of the Properties, as such taxes and special
assessments become due and payable.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>From
the Date of Agreement until the earlier of the Closing or termination of this
Agreement, the Gale SLG Transferors shall not, and shall not cause or allow any
of the Gale SLG Entities to, without the prior written consent of Mack-Cali,
which consent will not be unreasonably conditioned, denied or delayed,
(a)&nbsp;enter into, amend, modify, renew, terminate or assign any Lease or
enter into, amend, modify, renew, terminate or assign any Contract, broker
agreement or other similar material agreement with respect to the Properties,
(b)&nbsp;make payments or distributions of any proceeds from condemnation or
insurance claims or of any condemnation or insurance claims on account of the
Contributed Interest, the Waterview Interest, the Thornall Interest, the </p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">30</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Challenger
Interest or the Properties (except as required pursuant to the terms of the
existing Leases or the documents evidencing and securing any existing
financing), (c)&nbsp;amend or modify the Organizational Documents other than to
redeem any OP Units held by limited partners of the OP or to redeem the
Preferred GP Units of the OP or to issue additional OP Units to the GP or Gale
SLG by reason of a contribution of common equity to the OP, or (d)&nbsp;modify
any of the Existing Fixed Rate Debt. If Mack-Cali fails to object to any
request for its consent within 5 days of the request, Mack-Cali will be deemed
to have approved the request. Except with respect to Leases and Brokerage
Agreements, Mack-Cali&#146;s prior written consent will not be required
(i)&nbsp;with respect to the activities described in subsections (a) or (b), to
the extent such activities are conducted substantially in accordance with the
current budgets and operating plans, including the leasing guidelines included
therein, for the Properties, the OP, its subsidiaries and Challenger Owner made
available to Mack-Cali or (ii) with respect to the activities described in
subsection (a), to the extent such activities are conducted in the ordinary
course of the Gale SLG Entities&#146;, or the OP&#146;s business, consistent in all
material respects with past practice. Except as provided in <b><font style="font-weight:bold;">Section 9(h) </font></b>and<b><font style="font-weight:bold;"> Section 21</font></b>, Gale SLG will cause the OP to operate its
business consistent in all material respects with past practices, and, except
as provided in <b><font style="font-weight:bold;">Section 9(i)</font></b>,
Challenger Mezz will cause Challenger Owner to operate its business consistent
in all material respects with past practices, in each case subject to the terms
and provisions of any contract to which any Gale SLG Transferor or Gale SLG
Entity is party or by which it or its properties are bound.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Prior
to the Closing and subject to the reasonable approval of Mack-Cali, the
applicable Gale SLG Entities shall have the right to enforce the rights and
remedies of the landlord under any Lease, by summary proceedings or otherwise
(including, without limitation, the right to remove any tenant under any
Lease), and, subject to <b><font style="font-weight:bold;">Section&nbsp;9(m)(ii)</font></b>,
to apply all or any portion of any security deposits then held by the Gale SLG
Transferors or the Gale SLG Entities upon eviction toward any loss or damage
incurred by any of them by reason of any defaults by tenants, and the exercise
of any such rights or remedies shall not affect the obligations of Mack-Cali
under this Agreement in any manner or entitle Mack-Cali to a reduction in, or
credit or allowance against, the Total Purchase Price or give rise to any other
claim on the part of Mack-Cali.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>In
the event that as of the Closing Date there is not a Lease in effect for any of
the spaces listed on <b><font style="font-weight:bold;">Schedule 9(g) </font></b>(each
a &#147;<b><font style="font-weight:bold;">Master Lease Space</font></b>&#148;), Gale SLG
shall enter into an agreement (the &#147;<b><font style="font-weight:bold;">Rent Shortfall
Guaranty</font></b>&#148;) in the form of <b><font style="font-weight:bold;">Exhibit
I</font></b>, which shall provide that Gale SLG shall pay to Mack-Cali
Mack-Cali&#146;s Applicable Percentage Share of annual rent set forth for such space
on <b><font style="font-weight:bold;">Schedule 9(g)</font></b> on a monthly
basis until such space is leased or until the end of the period specified for
such space on <b><font style="font-weight:bold;">Schedule 9(g)</font></b>,
whichever first occurs. Mack-Cali, on behalf of JVLLC, agrees to use
commercially reasonable best efforts to lease each Master Lease Space
expeditiously and at market rates with respect to all economic terms,
including, but not limited to, rental rate, tenant improvement allowances, free
rent and other lease concessions. With respect to each of the spaces noted on <b><font style="font-weight:bold;">Schedule 9(g)</font></b> as a &#147;<b><font style="font-weight:bold;">Gale SLG Lease Cost Space</font></b>&#148;, if at Closing a
third party Lease is not in effect, Gale SLG shall escrow with an escrow agent
mutually acceptable to Gale SLG and JVLLC an amount equal to the OP Percentage
Share (as of the Closing Date) of $35 times the number of square feet contained
in the</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">31</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">relevant Gale
SLG Lease Cost Space, as set forth on <b><font style="font-weight:bold;">Schedule
9(g)</font></b>. Upon execution of a Lease with respect to such space, an
amount equal to the OP Percentage Share (as of the Closing Date) of the cost of
leasing commissions and tenant improvements only (&#147;<b><font style="font-weight:bold;">Section 9 Leasing Costs</font></b>&#148;) associated with entering into such
Lease (in any event not to exceed the OP Percentage Share (as of the Closing
Date) of $35 in the aggregate per square foot) shall be released from escrow to
the applicable Owner. Provided that Gale/SLG is not in default under the Rent
Shortfall Guaranty, any excess amount remaining with respect to any Gale SLG
Lease Cost Space after payment of the OP Percentage Share (as of the Closing
Date) of Section 9 Leasing Costs related to such Gale SLG Lease Cost Space
shall be released to Gale SLG.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Prior
to Closing, Gale SLG shall cause the Portfolio TRS Reorganization to be
effected.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Prior
to Closing, Challenger Parent shall contribute 100% of the stock of Challenger
TRS to Challenger Owner.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(j)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>The
Applicable Gale SLG Transferor shall request tenant estoppel certificates
(each, a &#147;<b><font style="font-weight:bold;">Tenant Estoppel</font></b>&#148;) prior
to Closing from all tenants of the Properties, in the form attached hereto as <b><font style="font-weight:bold;">Exhibit K</font></b> or as set forth in the applicable
Lease and shall deliver or cause to be delivered to Mack-Cali, upon receipt,
copies of each Tenant Estoppel in the form received. It shall be a condition
precedent (the &#147;<b><font style="font-weight:bold;">Minimum Estoppel Requirement</font></b>&#148;)
to Mack-Cali&#146;s obligation to Close that Tenant Estoppels dated no more than 45
days prior to Closing be obtained from tenants under Leases representing not
less than seventy percent (70%) of the aggregate currently occupied square
footage of the Properties, which seventy percent shall include the tenants listed
on <b><font style="font-weight:bold;">Schedule 9(j)</font></b> (the &#147;<b><font style="font-weight:bold;">Mandatory Tenants</font></b>&#148;). All Tenant Estoppels
delivered by tenants shall be accepted by Mack-Cali without regard to the
contents of such Tenant Estoppels or to any changes to the form of Tenant
Estoppel, unless such Tenant Estoppel (individually or collectively with other
Tenant Estoppels) contains statements whose substance indicates that the
Applicable Gale SLG Transferor has made a material misrepresentation under this
Agreement. The Gale SLG Transferors shall be entitled to an adjournment of the
Closing of not more than thirty (30) days to obtain Tenant Estoppels. If the
Gale SLG Transferors do not obtain Tenant Estoppels meeting the Minimum
Estoppel Requirement, the Applicable Gale SLG Transferor shall have the right
to deliver to Purchaser at the Closing a certificate (the &#147;<b><font style="font-weight:bold;">Landlord Estoppel</font></b>&#148;) substantially in the
form of <b><font style="font-weight:bold;">Exhibit J</font></b>, in lieu of
Tenant Estoppels with respect to Leases representing not more than five percent
(5%) of the Minimum Estoppel Requirement; provided that the Gale SLG
Transferors shall not be permitted to deliver a Landlord Estoppel with respect
to any Mandatory Tenant. Notwithstanding anything in this <b><font style="font-weight:bold;">Section 9(j)</font></b> or any Landlord Estoppel to
the contrary, the Landlord Estoppel shall terminate on the earlier of (i) as to
the Landlord Estoppel in its entirety, the date which is twelve (12) months
after the Closing Date, and (ii) with respect to any particular Lease covered
by the Landlord Estoppel (a &#147;<b><font style="font-weight:bold;">Landlord
Estoppel Lease</font></b>&#148;), the date of delivery to Mack-Cali of one or more
Tenant Estoppels from tenants under Leases for an aggregate square footage
equal to or in excess of the square footage leased covered by the Landlord
Estoppel Lease.</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">32</font></p>

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<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(k)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Upon written request by Mack Cali, and at
Mack-Cali&#146;s expense, the Gale SLG Entities agree to engage an accounting firm
(the &#147;<b><font style="font-weight:bold;">Accounting Firm</font></b>&#148;) that is
registered with the Public Company Accounting Oversight Board and which
Accounting Firm is reasonably acceptable to Mack-Cali to prepare and deliver
audited financial statements for any of the Gale SLG Entities that comply with
Regulation 210.3-14 (Instruction for Real Estate Operations to be Acquired) of
Regulation S-X (the &#147;<b><font style="font-weight:bold;">3-14 Financial
Statements</font></b>&#148;).</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(l)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Prior to Closing, Gale SLG shall cause the
dissolution of the entities set forth on <b><font style="font-weight:bold;">Schedule&nbsp;8(a)(xviii)</font></b>.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(m)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>The Gale SLG Transferors shall not, and shall
not cause or permit the Gale SLG Entities to:</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Enter into any agreement requiring work to be
done for any Tenant after the Closing Date without first obtaining the prior
written consent of Mack-Cali, which shall not be unreasonably withheld,
conditioned or delayed (and if Mack-Cali fails to object to any request for its
consent within 5 Business Days of the request, Mack-Cali shall be deemed to
have approved the request);</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Apply any Security Deposits with respect to
any tenant in occupancy;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Remove any Personal Property located in or on
any Property, except as Gale SLG may deem necessary for repair and
replacement.&#160; All replacements shall be
free and clear of all liens and encumbrances except those of the Existing Fixed
Rate Debt, the Existing Floating Rate Debt and the Existing Mezz Debt, shall be
of quality at least equal to the replaced items and shall be deemed included in
this sale, without cost or expense to Mack-Cali; or</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Cause or permit any Property, or any interest
therein, to be alienated, mortgaged, licensed, encumbered or otherwise be
transferred except for new Leases entered into in accordance with this
Agreement and transfers by tenants as permitted by the applicable Lease.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(n)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Challenger Mezz shall use commercially
reasonable efforts to procure an estoppel from the Village of Ridgefield Park,
the ground lessor of the Challenger Property, setting forth the information
required by Section 36 of the Challenger Ground Lease;</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(o)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>The Gale SLG Transferors will neither take
any action with respect to commencing, prosecuting or settling any tax
certiorari proceeding with respect to any Class A Property or Class B Property
with respect to years prior to 2006 which would have an adverse effect on the
Post-Closing Owners nor take any action that affects the 2006 assessment for
any Property without the prior written consent of Mack-Cali and will keep
Mack-Cali informed as to the status of such proceedings, from time to time at
Mack-Cali&#146;s request.&#160; From and after the
Agreement Date Mack-Cali shall have the sole and exclusive right, on behalf of
Post-Closing Owners, to commence, prosecute and settle</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">33</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">tax certiorari proceedings
with respect to any Class A Property or Class B Property for the current and
Post-Closing period, employing legal counsel designated by Mack-Cali except to
the extent other counsel are currently handling the Tax Cert Proceedings.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(p)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>At Closing there shall be no default or Event
of Default under the Existing Fixed Rate Debt.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(q)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>All undisputed bills and claims for labor
performed and materials furnished to or for the account of the applicable Owner
of any Property arising prior to the Closing Date will be paid in full by such
owner within customary time periods but not later than the Closing Date.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(r)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>The Gale SLG Transferors shall promptly
notify Mack-Cali of, and promptly deliver to Mack-Cali a true and complete copy
of any Notice that may be received concerning any of the Properties, on or
prior to the Closing Date, from any Governmental Authority concerning a
violation of any Environmental Laws.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(s)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Prior to Closing the Applicable Gale
Transferor shall use commercially reasonable efforts to procure an estoppel
from parties to the reciprocal agreements set forth in <b><font style="font-weight:bold;">Schedule 9(s)</font></b> stating any defaults or
payments due under such reciprocal agreements.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">10.</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><u><font style="font-weight:bold;">INSPECTION.</font></u></b></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Prior to Closing, (A) the
Gale SLG Transferors shall permit Mack-Cali to examine, at reasonable times,
the books and records (including without limitation historical financial and
operating statements) in the Gale SLG Transferors&#146; possession or control
relating to the Properties and (B)&nbsp;Mack-Cali shall have the right, at all
reasonable times, to (I) inspect the Land and the Improvements,
(II)&nbsp;review the Leases, and (III)&nbsp;conduct non-invasive environmental
audit or audits of the Properties and to the extent recommended by a reputable
third party environmental consultant based on its &#147;Phase I&#148; report, invasive
environmental audit or audits of the Properties, subject to Gale SLG
Transferors&#146; consent which will not be unreasonably delayed, withheld or
conditioned&#160; (with copies of the reports
relating to such audits delivered to the Gale SLG Transferors when
completed).&#160; All of the foregoing to be
conducted under this <b><font style="font-weight:bold;">Section&nbsp;10 </font></b>by
Mack-Cali shall be subject to the following:</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(a)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Such inspections, reviews, audits and
investigations shall take place during normal business hours upon not less than
two (2) Business Days prior written notice to the Applicable Gale SLG
Transferor or its designated agents, the Applicable Gale SLG Transferor&#146;s
consent shall be required prior to the performance of any drilling, boring or
other invasive testing or procedures and the Applicable Gale SLG Transferor
shall be entitled to have a representative present during any such inspection,
review, audit or investigation;</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(b)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>In the event the Closing does not occur,
Mack-Cali shall promptly return to the Gale SLG Transferors any documents
obtained from the Gale SLG Transferors or their agents;</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">34</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(c)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Mack-Cali shall not suffer or permit any
lien, claim or charge of any kind whatsoever to attach to the Properties or any
part thereof; and</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(d)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Such inspection, review, audit or
investigation shall be at Mack-Cali&#146;s sole cost and expense, shall be subject
to the rights of tenants and shall not unreasonably interfere with the
operation of the Properties.&#160; In the
event of any damage to any Property caused by Mack-Cali, its agents, engineers,
employees, contractors or surveyors (including without limitation pavement,
landscaping and surface damage), Mack-Cali shall pay the cost incurred by the
Gale SLG Transferors or the Gale SLG Entities to restore the Property to the
condition existing prior to the performance of such investigations or audits;
such obligation shall survive the termination of this Agreement.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mack-Cali shall defend,
indemnify and hold the Gale SLG Entities and the Gale SLG Transferors harmless
from any and all liability, loss, claims, cost and expense (including without
limitation reasonable attorneys&#146; fees, court costs and costs of appeal)
suffered or incurred by any of the Gale SLG Entities or the Gale SLG
Transferors but only to the extent caused by or arising out of Mack-Cali&#146;s
reviews, interviews, investigations, tests, studies and inspections of the
Property (other than that caused by the negligence or willful misconduct of any
of the Gale SLG Entities, any of the SLG Transferors or any of their respective
designated agents).&#160; Prior to commencing
any such tests, studies and investigations, Mack-Cali shall furnish to the
Applicable Gale SLG Transferor a certificate of insurance evidencing
comprehensive general public liability insurance insuring the person, firm or
entity performing such tests, studies and the applicable investigations from
insurers and in amounts reasonably acceptable to the Applicable Gale SLG
Transferor and listing the applicable Owner as an additional insured
thereunder.&#160; The provisions of this
paragraph shall survive the Closing and the termination of this Agreement.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">11.</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><u><font style="font-weight:bold;">CONDITIONS PRECEDENT TO CLOSING.</font></u></b></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(a)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Mack-Cali&#146;s obligation to Close hereunder is
subject to satisfaction of the following conditions precedent, any of which may
be waived in whole or in part by Mack-Cali, in its sole and absolute
discretion:</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Gale SLG Transferors shall have delivered
to or for the benefit of Mack-Cali, on or before the Closing Date, all of the
documents and items required of the Gale SLG Transferors pursuant to <b><font style="font-weight:bold;">Section 12(a),</font></b> and the Gale SLG Transferors
shall have performed all of their obligations hereunder to be performed as of
the Closing Date in all material respects;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Title Company shall have irrevocably
committed to issue an owner&#146;s title insurance policy with respect to each
Property, subject only to the Permitted Exceptions;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; All of the Gale SLG Transferors&#146;
representations and warranties made in this Agreement shall be true and correct
in all material respects (except to the extent otherwise qualified by a
materiality standard) as of the date hereof and</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">35</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">as of the Closing Date as if
then made, subject to any changes or updates as are contemplated or permitted
hereunder and set forth in the Certification of Representations and Warranties,
provided, that the Entity Related Representations shall be deemed true and
correct for purposes of this <b><font style="font-weight:bold;">Section 11(a)</font></b>
unless the aggregate liability arising from incorrect Entity-Related
Representations is in excess of $20,000,000;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Portfolio TRS Reorganization shall have
taken place;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Challenger Parent shall have contributed 100%
of the stock of Challenger TRS to Challenger Owner;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Mack-Cali shall have received Tenant
Estoppels meeting the Minimum Estoppel Condition, subject to <b><font style="font-weight:bold;">Section 9(j)</font></b>;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Existing Mezzanine Debt shall be
satisfied in full at Closing in accordance with <b><font style="font-weight:bold;">Section 12(e), </font></b>and the Mack-Cali Interest shall be free and
clear of any Encumbrances;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(viii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Debt Assumption shall occur (provided
that Mack-Cali is not in default of its obligations hereunder with respect
thereto); and</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ix)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Existing Floating Rate Debt shall be
satisfied in full with respect to the Class A Properties and Class B
Properties.&#160; The New Financing shall
close simultaneously herewith.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(b)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>The Gale SLG Transferors&#146; obligation to Close
hereunder is subject to satisfaction of the following conditions precedent, any
of which may be waived in whole or in part by the Gale SLG Transferors, in
their sole and absolute discretion:</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Mack-Cali shall have paid the Total Purchase
Price pursuant to the terms hereof;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Mack-Cali shall have delivered to or for the
benefit of Gale SLG, on or before the Closing Date, all of the documents and
items required to be delivered by Mack-Cali pursuant to <b><font style="font-weight:bold;">Section 12(b)</font></b>, and Mack-Cali shall have
performed all of its obligations hereunder to be performed on or before the
Closing Date;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; All of Mack-Cali&#146;s representations and
warranties made in this Agreement shall be true and correct in all material
respects (except to the extent otherwise qualified by a materiality standard)
as of the date hereof and as of the Closing Date as if then made;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Debt Assumption and Guarantor Release
shall occur; and</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The New Financing shall close simultaneously
herewith.</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">36</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">12.</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><u><font style="font-weight:bold;">CLOSING DOCUMENTS; FINANCING; EXISTING LENDER CONSENTS.</font></u></b></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(a)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>On the Closing Date, the Gale SLG Transferors
shall deliver or cause to be delivered the following documents (with the
documents described in <b><font style="font-weight:bold;">Section&nbsp;12(b)</font></b>,<b><font style="font-weight:bold;"> </font></b>the &#147;<b><font style="font-weight:bold;">Closing
Documents</font></b>&#148;) to Mack-Cali, all duly executed by the Applicable Gale
SLG Transferor, each of which shall be a condition precedent to Mack-Cali&#146;s
obligation to close the transaction contemplated by this Agreement (and one or
more of which conditions may be waived in writing by Mack-Cali, in its sole
discretion, on or prior to the Closing Date):</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the JVLLC Operating Agreement;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Gale SLG Transferors&#146; counterpart of a
closing and proration statement;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; a certification of nonforeign status
satisfying Section 1445 of the Code;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; evidence of each Gale SLG Transferor&#146;s and
each Gale SLG Entity&#146;s existence, good standing in its State of organization,
qualification to do business and authority to perform its obligations under
this Agreement, in form and substance reasonably satisfactory to the Title
Company, and all organization documents of each such entity including the
partnership agreement or limited liability company agreement, as applicable
redacted, in the case of Gale SLG, to eliminate confidential business terms;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; a current Rent Roll including arrears
schedule with respect to each Property certified by the Applicable Gale SLG
Transferor as true, correct and complete to its knowledge;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; a certificate (the &#147;<b><font style="font-weight:bold;">Certification of Representation and Warranties</font></b>&#148;)
in the form of <b><font style="font-weight:bold;">Exhibit G,</font></b> executed
by the Gale SLG Transferors and dated as of the Closing Date, certifying that
all of the representations and warranties of the Gale SLG Transferors set forth
in <b><font style="font-weight:bold;">Section 8(a)</font></b> and all Exhibits
and Schedules referenced in therein are true and correct in all material
respects (except as qualified by materiality) as of the Closing Date or setting
forth any updates or material changes thereto, which updates and changes, if
any, shall be consistent with this Agreement;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; an assignment and assumption of limited
liability company interests in the form attached hereto as <b><font style="font-weight:bold;">Exhibit H </font></b>(an &#147;<b><font style="font-weight:bold;">Assignment</font></b>&#148;) executed by Portfolio Mezz with respect to the
Waterview Interest and the Thornall Interest, an Assignment executed by Challenger
Mezz with respect to the Challenger Interest and an Assignment executed by Gale
SLG with respect to the Mack-Cali Interest;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(viii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Cross Collateral Indemnity executed by
Gale SLG;</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">37</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ix)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; payment of any closing costs to be paid by
Gale SLG Transferors under the terms of this Agreement;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(x)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; to the extent they are then in or under Gale
SLG Transferors&#146; possession or control and not posted at Properties, all
certificates of occupancy and other permits and approvals (or equivalent
documents) for the Properties;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; to the extent within the Gale SLG
Transferors&#146; possession or control, all original documents or instructions
referred to herein, including without limitation the books, records, tenant
data, leasing material and forms, original brokerage agreements, past and
current rent rolls, files, statements, tax returns, market studies, keys,
access cards, codes, combinations, plan, specifications, reports, tests and
other materials of any kind owned by or in possession or control or any Gale
SLG Transferor or any Owner which are or may be used in the use and operation
of any Property or Personal Property, contracts and agreements for the
servicing, maintenance and operation of any Property, Licenses, and certified
copies of same where Gale SLG Transferors, using commercially reasonable
efforts, are unable to deliver originals;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; an opinion of Gale SLG Transferor&#146;s counsel
reasonably satisfactory to Mack-Cali with respect to the existence, organization
and authority of each Applicable Gale Transferor and of the authority of
persons executing documents on behalf of each Applicable Gale Transferor; and</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xiii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; such documents as may be necessary to effect
the Debt Assumption and the New Financing as set forth below and payment of all
assumption fees and lender expenses relating to the Debt Assumption.</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xiv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; required tax returns, if any, for all
applicable real property transfer taxes, and/or similar levies and charges,
completed and executed by the Applicable Gale SLG Transferor, together with
certified checks to the order of the appropriate officers for the amount of the
transfer taxes, if any, shown on said tax returns, it being understood that, as
of the date hereof, the parties hereto agree that the Closing of the
Transaction would not give rise to any such taxes;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; letters to tenants of the Challenger
Property, the Waterview Property and the Thornall Property, advising them of
the transactions hereunder and directing that rent and other payments
thereafter be sent to Mack-Cali or its designee, as manager or agent for the
applicable Owner, as Mack-Cali shall so direct;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Any document or item
required under this <b><font style="font-weight:bold;">Section 12(a)</font></b>
to be delivered by any Gale SLG Transferor shall be deemed delivered for
purposes of this Agreement if such document or item is delivered to or retained
by the property manager or leasing agent acquired by Mack-Cali or an affiliate
at Closing in connection with the Services Transaction or otherwise retained by
Post-Closing Owners.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">38</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(b)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>On the Closing Date, Mack-Cali shall deliver
the following to the Gale SLG Transferors, in form and substance reasonably
acceptable to the Gale SLG Transferors, all duly executed by Mack-Cali, where
appropriate, each of which shall be a condition precedent to the Gale SLG
Transferors&#146; obligation to close the transaction contemplated by this
Agreement:</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; counterparts of the JVLLC Operating
Agreement;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; counterparts of the closing and proration
statement;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; a certified copy of the resolutions or
consent of Mack-Cali authorizing the transaction contemplated by this Agreement
or other satisfactory evidence of authorization;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; authorization for disbursement by the
Escrowee of that portion of the Deposit held thereby;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the balance of the Total Purchase Price;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; such documents as may be necessary to effect
the Debt Assumption and the New Financing as set forth below;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; counterparts of the Assignments with respect
to the Waterview Interest, the Thornall Interest, the Challenger Interest and
the Mack-Cali Interest;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(viii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; a counterpart of the Cross Collateral
Indemnity; and</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ix)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; such other documents, instruments or
agreements as may be reasonably requested by Gale SLG or the Escrowee to
otherwise consummate the Closing.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(c)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Upon purchasing the Mack-Cali Interest,
Mack-Cali shall, at closing, cause the applicable Post-Closing Owners to assume
the debt (the &#147;<b><font style="font-weight:bold;">Debt Assumption</font></b>&#148;)
evidenced by the documents set forth on <b><font style="font-weight:bold;">Schedule
12(c) </font></b>(the &#147;<b><font style="font-weight:bold;">Existing Fixed Rate
Debt</font></b>&#148;), which debt encumbers the Class A Properties, the Waterview
Property, 75 Livingston Avenue, Roseland, New Jersey (&#147;<b><font style="font-weight:bold;">75 Livingston</font></b>&#148;) (which Property is a Class
B Property) and the Challenger Property.&#160;
Mack-Cali shall execute and deliver, or cause to be executed and
delivered, such documents as the lenders holding the Existing Fixed Rate Debt
may reasonably require to consent to the Transaction and effect the Debt
Assumption, including, without limitation, such guaranties and indemnities, in
substantially the form of those currently in effect with respect to the
Existing Fixed Rate Debt, made by a credit-worthy affiliate of Mack-Cali as may
be reasonably required by the lender thereunder.&#160; Additionally, the current guarantors and
indemnitors in respect of the Fixed Rate Debt shall be released (the &#147;<b><font style="font-weight:bold;">Guarantor Release</font></b>&#148;) from any and all
obligations thereunder arising from and after Closing.&#160; Mack-Cali and the Gale SLG Transferors agree
to cooperate in good faith in effecting the Debt Assumption.&#160; Accrued, unpaid interest as of the Closing
Date shall be for the account of Pre-Closing Owners, who shall be entitled to a
credit at Closing for any unapplied cash reserves held by</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">39</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">lenders with respect to the
Existing Fixed Rate Debt, as more particularly set forth in <b><font style="font-weight:bold;">Section 15</font></b>.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(d)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>It shall be a condition precedent to the
obligations of Gale SLG and Mack-Cali to Close the Transaction that the
applicable Post-Closing Owners obtain first mortgage and/or mezzanine financing
(the &#147;<b><font style="font-weight:bold;">New Financing</font></b>&#148;) with respect
to the Class B Properties reasonably acceptable to Gale SLG and Mack-Cali with
such financing being in principal amount of not less than $90,000,000.&#160; The proceeds of the New Financing shall be
distributed at Closing to the partners of the OP, including JVLLC, and further
distributed by JVLLC to its members.&#160;
Gale SLG and Mack-Cali each acknowledge that it has reviewed and
approves of the Term Sheet for financing from Gramercy Capital Corp. attached
hereto as <b><font style="font-weight:bold;">Exhibit L</font></b>.&#160; Gale SLG and Mack-Cali agree to cooperate in
good faith to procure the New Financing.&#160;
The costs of the New Financing shall be borne by the applicable
Post-Closing Property Owners.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(e)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>The parties acknowledge that the membership
interests in each Owner are encumbered as of the date hereof by the Existing
Mezz Debt.&#160; The Gale SLG Transferors
covenant and agree that the Existing Mezz Debt shall be satisfied in full at or
prior to Closing and that such documents as are necessary to effect the release
of all liens and encumbrances on the membership interests in any Owner (other
than any such lien and encumbrances granted in connection with the New
Financing) shall be presented at Closing.</p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">13.</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><u><font style="font-weight:bold;">FIRE OR CASUALTY.</font></u></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In the event of damage to
any Property, reasonably estimated by the Applicable Gale SLG Transferor to be
in excess of $250,000, by fire or other casualty prior to the Closing Date, the
Applicable Gale SLG Transferor shall promptly notify Mack-Cali of such fire or
other casualty.&#160; If the fire or other
casualty causes damage which would cost in excess of 5% of the aggregate Agreed
Values of all of the Properties (as set forth on <b><font style="font-weight:bold;">Schedule 13</font></b>) to repair (as determined by Mack-Cali&#146;s third
party insurance consultant in good faith), then Mack-Cali shall elect, by
written notice to be delivered to each of the Gale SLG Transferors, on or
before the sooner of (i) the twentieth (20th) day after Mack-Cali&#146;s receipt of
such notice or (ii)&nbsp;the Closing Date, to either:&#160; (a)&nbsp;close the transaction contemplated
by this Agreement or (b)&nbsp;terminate this Agreement, and receive a return of
the Deposit together with any interest earned thereon in which case the parties
hereto shall have no further obligations hereunder (except for obligations that
are expressly intended to survive the termination of this Agreement).&#160; If Mack-Cali fails to timely deliver written
notice of its election under the prior sentence, it shall be deemed to have
elected to terminate this Agreement.&#160; If
the damage to all of the Properties, by fire or other casualty prior to the
Closing Date, would cost less than or equal to 5% of the aggregate Agreed
Values of all of the Properties to repair (as determined by Mack-Cali&#146;s third
party insurance consultant in good faith), Mack-Cali shall not have the right
to terminate its obligations under this Agreement by reason thereof.&#160; If, following a fire or other casualty, this
Agreement is not terminated pursuant to the foregoing rights in this Section,
the Applicable Gale SLG Transferor shall cause the applicable Owner to retain
all of such Owner&#146;s right, title and interest in and to all insurance proceeds
paid or payable to such Owner on account of such fire or casualty (subject to
the terms of the Existing Fixed Rate Debt and Leases) and, in addition, the
Applicable Gale SLG</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">40</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Transferor shall (x)&#160; in the case
of a Portfolio Property, cause the OP to contribute to the applicable Owner and
(y) in the case of the Challenger Property, contribute to Challenger Owner,
additional capital equal to the deductible under the applicable Owner&#146;s policy
of casualty insurance.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">14.</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><u><font style="font-weight:bold;">CONDEMNATION.</font></u></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If, prior to the Closing
Date, all or any part of any of the Properties is taken by condemnation or a
conveyance in lieu thereof, or if the Applicable Gale SLG Transferor or the
applicable Owner receives notice of a condemnation proceeding with respect to
any such Property, then the Applicable Gale SLG Transferor shall promptly
notify Mack-Cali of such condemnation or conveyance in lieu thereof.&#160; If the taking or threatened taking involves a
material portion of such Property (hereinafter defined), Mack-Cali may elect,
by written notice to be delivered to each of the Gale SLG Transferors, on or
before the sooner of (i)&nbsp;the twentieth (20th) day after Mack-Cali&#146;s
receipt of such notice, or (ii)&nbsp;the Closing Date, to terminate this
Agreement, in which event the Deposit together with any interest earned thereon
shall be returned to Mack-Cali, and the parties hereto shall have no further
obligations hereunder (except for obligations that are expressly intended to
survive the termination of this Agreement).&#160;
If Mack-Cali elects to close this transaction notwithstanding such taking
or condemnation, the Owner or, in the case of the Waterview Property, the
Thornall Property and the Challenger Property, Mack-Cali, shall be entitled to
any award given to the applicable Owner as a result of such condemnation
proceedings (subject to the terms of the Existing Fixed Rate Debt and Leases),
with the same being retained by such Owner (or by the OP for the benefit of
such Owner) (in the case of a Class A Property or a Class B Property) or
Mack-Cali (in the case of the Waterview Property, the Thornall Property and the
Challenger Property) at Closing.&#160; As used
herein, a &#147;material portion of the Property&#148; means any part of the Property
reasonably required for the operation of the Property substantially in the
manner operated on the date hereof.&#160; If
any taking or threatened taking does not involve a material portion of the
Property, Mack-Cali shall be required to proceed with the Closing, in which
event the Applicable Gale SLG Transferor, shall cause the applicable Owner to
retain at Closing any award given to such Owner (or the right to receive any
such award) as a result of such condemnation proceedings (subject to the terms
of the Existing Fixed Rate Debt and Leases).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">15.</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><u><font style="font-weight:bold;">ADJUSTMENTS AND PRORATIONS.</font></u></b></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(a)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>For purposes of this <b><font style="font-weight:bold;">Section 15</font></b> only, the term &#147;<b><font style="font-weight:bold;">Pre-Closing Owner</font></b>&#148; shall mean any Owner for
the period prior to the Closing Date and the term &#147;<b><font style="font-weight:bold;">Post-Closing Owner</font></b>&#148; shall mean any Owner for the period from
and after 12:01&nbsp;A.M. on the Closing Date.&#160;
The terms Pre-Closing Owner and Post-Closing Owner are intended to
reflect the different beneficial ownership of the Owners pre-Closing and
post-Closing.&#160; Pre-Closing Owners shall
be entitled to all income produced from the operation of the Properties which
is allocable to the period prior to the Closing and shall be responsible for
all expenses allocable to that period; and the corresponding Post-Closing Owner
shall be entitled to all income and responsible for all expenses allocable to
the period beginning at 12:01 A.M. on the day the Closing occurs.&#160; Except as expressly set forth below, at the
Closing, (i) all items of income and expense with respect to each Property
shall be prorated in accordance with the foregoing principles and the rules for
the specific items</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">41</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">set forth hereinafter, and
(ii) the Agreed Value of each Property shall be adjusted up or down at Closing
by the net amount of all such prorations and adjustments in respect of such
Property under this <b><font style="font-weight:bold;">Section 15</font></b>.&#160; Mack-Cali shall make any post-Closing payment
with respect to a proration or adjustment in favor of a Pre-Closing Owner of a
Portfolio Property other than the Waterview Property and the Thornall Property
by paying Mack-Cali&#146;s Applicable Percentage Share thereof to Gale SLG.&#160; Mack-Cali shall make any such post-Closing
payment with respect to the Waterview Property or the Thornall Property by (i)
paying the OP Percentage Share (as of the Closing Date) thereof to Gale SLG and
(ii) paying the balance thereof to the holders of OP Units other than the GP
and JVLLC.&#160; Mack-Cali shall make any
post-Closing payment with respect to Challenger by paying same to Challenger
Mezz.&#160; At Closing Mack-Cali shall pay to
Gale SLG Mack-Cali&#146;s Applicable Percentage Share of any cash held by the OP or
any of its subsidiaries and 100% of any cash held by Challenger Owner.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(b)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Real Estate Taxes and Assessments.</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Real estate taxes and assessments on each
Property shall be prorated and adjusted based upon the period (i.e., calendar
or other tax fiscal year) to which the same are attributable, regardless of
whether or not any such real estate taxes are then due and payable or are a
lien.&#160; Each Pre-Closing Owner shall pay
at or prior to Closing (or the applicable Post-Closing Owner shall receive
credit for) any unpaid real estate taxes attributable to periods prior to the
Closing Date (whether or not then due and payable or a lien as aforesaid);
provided, that with respect to any assessments which can be paid in
installments, each Pre-Closing Owner shall only be responsible for installments
which are payable on or before the Closing Date.&#160; Each Pre-Closing Owner shall receive credit
for any previously paid or prepaid real estate taxes attributable to periods
from and after the Closing Date.&#160; In the
event that as of the Closing Date the actual real estate&#160; tax bills for the tax year or years in
question are not available and the amount of real estate tax to be prorated as
aforesaid cannot be ascertained, then rates and assessed valuations of the
previous year, with known changes, shall be used; and after the Closing occurs
and when the actual amount of real estate taxes of the year or years in
question shall be determinable, such real estate taxes will be re-prorated
between the parties to reflect the actual amount of such real estate taxes.</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Gale SLG shall have the right at Gale SLG&#146;s
expense, to continue the prosecution, on behalf of any Owner, of any real
estate tax certiorari or other proceedings or protests brought by such Owner
prior to Closing, to reduce the taxes or any portion thereof for the fiscal
year prior to the fiscal year in which Closing occurs which are pending as of
the Closing Date using counsel selected by Gale SLG, until a final
determination has been rendered or a settlement reached.&#160; If Gale SLG elects not to pursue such matters,
JVLLC, on behalf of the applicable Owner, may continue to prosecute same.&#160; The applicable Post-Closing Owner shall pay
from the proceeds of any refund, all actual and reasonable legal, accounting
and other expenses which may be incurred in connection with such real estate
tax certiorari or other proceedings or protests, and Gale SLG (or JVLLC, if
applicable, with Gale SLG&#146;s consent) may settle or compromise any</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">42</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">such proceedings on behalf
of the applicable Post-Closing Owner.&#160; If
such determination shall result in a refund or credit of taxes, or if the taxes
are otherwise reduced, because of a reduction of the assessed valuation or tax
rate or for any other reason, then the net amount of such refund or credit of
taxes (after deducting Gale SLG&#146;s (and if applicable the applicable
Post-Closing Owner&#146;s) out-of-pocket third party costs and any refunds or
credits of taxes owed to Tenants under Leases or expired or terminated Leases)
shall be apportioned between the applicable Pre-Closing Owner and the
applicable Post-Closing Owner as of the Closing.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; All increases in taxes imposed due to a
change of use of any portion of any Property after the Closing Date shall be
paid by the applicable Post-Closing Owner.</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Any increases in taxes attributable to
reassessment of any of the Properties for ad valorem (including real estate and
franchise) tax purposes as a result of the transactions contemplated by this
Agreement shall be paid by the applicable Post-Closing Owner.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(c)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Utilities.</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Gas, water, electricity, heat, fuel, sewer
and other utilities charges, the governmental licenses, permits and inspection
fees relating to each Property shall be prorated as of the Closing Date on a
per diem basis.&#160; Pre-Closing Owners shall
receive a credit at Closing for any security deposits held by any utility
companies.&#160; Post-Closing Owners shall be
responsible for all utility charges beginning as of the Closing Date forward.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(d)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Rent and Other Tenant Charges.</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Rent under each Lease shall be apportioned as
of the Closing Date to the extent such rent has actually been collected as of
such date.&#160; Except as provided below in
this <b><font style="font-weight:bold;">Section&nbsp;15(d)</font></b>, with
respect to any rent arrearages arising under each Lease for the period prior to
the month in which the Closing occurs, after Closing, the applicable
Post-Closing Owner shall pay to the applicable Pre-Closing Owner any rent
actually collected which is applicable to the period preceding the Closing
Date; provided, however, that all rent collected by the applicable Post-Closing
Owner shall be applied first to all unpaid rent for the month in which the
Closing occurs, next, to unpaid rent accruing after the Closing Date, and then
to all unpaid rent accruing prior to the Closing Date.</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Tenant obligations under Leases for taxes,
common area expenses, operating expenses, so-called &#147;escalation rent&#148; or
additional charges of any other nature (&#147;<b><font style="font-weight:bold;">Expense
Reimbursements</font></b>&#148;), shall be adjusted and prorated on an as, if and
when collected basis.</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; If any Expense Reimbursements for a period
that shall have expired prior to the Closing are paid after the Closing,
Post-Closing Owner shall</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">43</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">pay the entire amount over
to Pre-Closing Owner upon receipt thereof.&#160;
Post-Closing Owner shall (a) promptly render bills to the applicable
tenants for any Expense Reimbursements in respect of a period that shall have
expired prior to the Closing but which is payable after the Closing, (b) bill
tenants for any such Expense Reimbursements on a monthly basis for a period of
twelve (12) consecutive months thereafter and (c) use the same efforts to
collect such Expense Reimbursements as Post-Closing Owner uses after the
Closing to collect Expense Reimbursements from tenants at the Premises
generally, but shall not be required to commence legal actions with respect
thereto.&#160; Notwithstanding the foregoing,
Gale SLG, on behalf of the applicable Pre-Closing Owner, shall have the right,
upon prior written notice to JVLLC, to pursue tenants to collect such
delinquencies (including, without limitation, the prosecution of one or more
lawsuits).&#160; From and after the Closing,
Gale SLG shall furnish to JVLLC calculations of the amounts due from tenants on
account of Expense Reimbursements for periods prior to the Closing, and such
other information relating to the period prior to the Closing as is reasonably
necessary for the billing of any such Expense Reimbursements, including the
form of bill to be delivered to such tenants.&#160;
Post-Closing Owner shall (x) bill tenants for Expense Reimbursements for
periods prior to the Closing in accordance with and on the basis of such
information furnished by Gale SLG absent manifest error and (y) deliver to Gale
SLG, concurrently with the delivery to tenants or shortly thereafter, copies of
all statements relating to Expense Reimbursements for periods prior to the
Closing.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Expense Reimbursements for the period in
which the Closing occurs shall be apportioned between Pre-Closing Owner and
Post-Closing Owner as of the close of business of the day preceding the
Closing, with Pre-Closing Owner receiving the proportion of such Expense
Reimbursements that the portion of such period occurring prior to the Closing
bears to the entire such period, and Post-Closing Owner receiving the
proportion of such Expense Reimbursements that the portion of such period from
and after the Closing bears to the entire such period.&#160; If, prior to the Closing, Pre-Closing Owner
shall receive any installment of Expense Reimbursements attributable to Expense
Reimbursements for periods from and after the Closing, such sum shall be paid
to Post-Closing Owner at the Closing.&#160;
If, after the Closing, Post-Closing Owner shall receive any installment
of Expense Reimbursements attributable to Expense Reimbursements for periods
prior to the Closing, the applicable portion of such sum (as determined
pursuant to <b><font style="font-weight:bold;">Section 15(a)</font></b>) shall
be paid by Mack-Cali to Gale SLG promptly after the applicable Post-Closing
Owner receives payment thereof.</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Any payment by a tenant on account of Expense
Reimbursements (to the extent not applied against rents due and payable by such
tenant in accordance with the terms hereof) shall be applied to Expense
Reimbursements then due and payable in the following order of priority:&#160; (a) first, in payment of Expense
Reimbursements for the accounting period in which the Closing occurs, (b)
second, in payment of Expense Reimbursements owed by such tenant for the accounting
periods succeeding the accounting period in which the Closing occurs</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">44</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and (c) third, in payment of
Expense Reimbursements owed by such tenant for accounting periods preceding the
accounting period in which the Closing occurs.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; To the extent that any payment on account of
Expense Reimbursements is required to be paid periodically by tenants for any
calendar year (or, if applicable, any lease year or any other applicable
accounting period), and at the end of such calendar year (or lease year or
other applicable accounting period, as the case may be), such estimated amounts
are to be recalculated based upon the actual expenses, taxes or other relevant
factors for that calendar year, lease year or other applicable accounting
period, with the appropriate adjustments being made with such tenants, then
such portion of the Expense Reimbursements that has been paid shall be prorated
between Pre-Closing Owner and Post-Closing Owner at the Closing based on such
estimated payments (i.e., with Pre-Closing Owner entitled to retain all monthly
or other periodic installments of such amounts paid with respect to periods
prior to the calendar month or other applicable installment period in which the
Closing occurs, Pre-Closing Owner to pay to Post-Closing Owner at the Closing
all monthly or other periodic installments of such amounts theretofore received
by Pre-Closing Owner with respect to periods following the calendar month or
other applicable installment period in which the Closing occurs and Pre-Closing
Owner and Post-Closing Owner to apportion as of the Closing Date all monthly or
other periodic installments of such amounts with respect to the calendar month
or other applicable installment period in which the Closing occurs).&#160; At the time(s) of final calculation and
collection from (or refund to) each tenant of the amounts in reconciliation of
actual Expense Reimbursements for a period for which estimated amounts paid by
such tenant have been prorated, there shall be a re-proration between Pre-Closing
Owner and Post-Closing Owner.&#160; If, with
respect to any tenant, the recalculated Expense Reimbursements exceeds the
estimated amount paid by such tenant, (a) such excess, upon receipt from the
applicable tenant, shall be paid by Post-Closing Owner to Pre-Closing Owner, if
the period for which such recalculation was made expired prior to the Closing,
and (b) such excess shall be apportioned between Pre-Closing Owner and
Post-Closing Owner as of the Closing, if the Closing occurred during the period
for which such recalculation was made.&#160;
If, with respect to any tenant, the recalculated Expense Reimbursements
is less than the estimated amount paid by such tenant, (a) the shortfall shall
be paid by Pre-Closing Owner to Post-Closing Owner, if the period for which
such recalculation was made expired prior to the Closing and (b) such shortfall
shall be apportioned between Pre-Closing Owner and Post-Closing Owner as of the
Closing, if the Closing occurred during the period for which such recalculation
was made.</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Until such time as all amounts required to be
paid to Pre-Closing Owner by Post-Closing Owner pursuant to this Section 15(d)
shall have been paid in full, the applicable Post-Closing Owner shall furnish
to Gale SLG a reasonably detailed monthly accounting of cash receipts from
tenants (to be accompanied by monthly cash receipt journals, bank statements
and aged account receivable reports) with a detailed accounting of amounts
allocable to Pre-Closing Owner</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">45</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">pursuant to this Agreement,
which accounting shall be delivered to Gale SLG on or prior to the thirtieth
(30th) day following the last day of each calendar month from and after the
calendar month in which the Closing occurs.&#160;
Gale SLG or its representatives shall have the right from time to time
for a period of two (2) years following the Closing, on prior notice to JVLLC,
during ordinary business hours on business days, to review the applicable
Post-Closing Owner&#146;s rental records with respect to the Property at the office
where such records are then maintained by or on behalf of Post-Closing Owner to
ascertain the accuracy of any such accountings.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(viii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; Any amount collected by any Post-Closing
Owner or JVLLC to which Gale SLG is entitled to pursuant to this Section 15(d)
shall be promptly paid over to Gale SLG, less the applicable Post-Closing
Owner&#146;s and JVLLC&#146;s out-of-pocket costs of collection, including reasonable
attorney&#146;s fees and expenses reasonably allocable thereto.</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ix)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Gale SLG, on behalf of any Owner, shall be
entitled to sue any Tenant or take any other actions to collect any delinquent
rent, Expense Reimbursements or other payments due to such Owner and accrued
prior to Closing (and not previously paid to such Owner) so long as such suit
does not seek a termination of such Tenant&#146;s Lease or eviction of such Tenant,
and JVLLC, on behalf of such Owner, shall use good faith efforts at Gale SLG&#146;s
expense to support Gale SLG&#146;s collection efforts on behalf of such Owner.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(e)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>The amount of any security deposits received
by a Pre-Closing Owner and not applied against Tenants&#146; obligations under
Leases shall be credited against the applicable Agreed Value, and Pre-Closing
Owners shall be entitled to retain any deposits so credited.&#160; The applicable Agreed Value shall be
increased by the amount of any utility deposits paid by Pre-Closing Owner with
respect to the Properties.&#160; JVLLC shall
indemnify, defend and hold Gale SLG harmless with respect to any prepaid
amounts or security deposits retained by, or delivered or credited to, the
Post-Closing Owners at Closing.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(f)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Any assessments and other charges paid or
payable by Pre-Closing Owners under any declarations, reciprocal easement
agreements, covenants, restrictions or other agreements affecting the
Properties shall be prorated between the Pre-Closing Owners and the
Post-Closing Owners as of the Closing.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(g)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Fees and other charges under any Contracts
shall be prorated between the Pre-Closing Owners and the Post-Closing Owners as
of the Closing.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(h)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Mack-Cali shall pay to Gale SLG at Closing
Mack-Cali&#146;s Applicable Percentage Share of the amounts listed on Schedule
15(h).</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(i)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Pre-Closing Owners shall be responsible for
all unpaid leasing and brokerage commissions and tenant improvement costs
identified on <b><font style="font-weight:bold;">Schedule 8(a)(xxii)</font></b>
as being the responsibility of Pre-Closing Owners (collectively, together with
certain free</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">46</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">rent amounts set forth on <b><font style="font-weight:bold;">Schedule 15(i)</font></b>, &#147;<b><font style="font-weight:bold;">Unfunded Lease Expenses</font></b>&#148;).&#160;
The leasing and brokerage commissions and tenant improvement costs
identified on <b><font style="font-weight:bold;">Schedule 8(a)(xxii)</font></b>
as being the responsibility of Post-Closing Owners shall be paid by the
applicable Post-Closing Owner (or to the extent paid prior to Closing,
reimbursed by Post-Closing Owners to Pre-Closing Owners at Closing).&#160; Gale SLG shall escrow at Closing an amount
equal to Mack-Cali&#146;s Applicable Percentage Share of Unfunded Lease Expenses (to
the extent then-remaining unpaid), and, upon receipt of proof of payment
thereof by the Post-Closing Owner, Gale SLG shall direct that escrowee release
to Mack-Cali or its designee for the benefit of the applicable Post-Closing
Owner an amount equal to Mack-Cali&#146;s Applicable Percentage Share of such
Unfunded Leasing Expenses (or, with respect to the Challenger Property
Challenger Mezz shall direct escrowee to release to Mack-Cali or its designee,
for the benefit of the applicable Post-Closing Owner one hundred percent of
such Unfunded Tenant Liabilities, or, with respect to the Waterview Property or
the Thornall Property, Gale SLG shall direct escrowee to release to Mack-Cali
or its designee, for the benefit of the applicable Post-Closing Owner an amount
equal to the OP Percentage Interest, as of the Closing Date, multiplied by the
amount of such Unfunded Leasing Expenses).&#160;
With respect to any other Lease or Lease modification entered into by
Pre-Closing Owners after the date hereof, and with respect to any renewal,
expansion or extension of any Lease through the exercise of an existing option,
occurring after the date hereof, all tenant improvement work, leasing
commissions, legal fees or other expenses or grants of any free rent period or
other concessions shall be paid by the Post-Closing Owner (or to the extent
paid prior to Closing, reimbursed by Post-Closing Owner to Pre-Closing Owner at
Closing).&#160; The prorations and payments
made pursuant to this <b><font style="font-weight:bold;">Section 15(i) </font></b>shall
not affect the Agreed Values of the Properties.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(j)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Fees and Expenses Related to New Financing.</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; JVLLC shall be responsible for the OP
Percentage Share of all costs associated with the New Financing, including,
without limitation, any costs imposed by or reimbursable to the lender for
physical, environmental and legal due diligence, legal fees and disbursements,
title charges and appraisal fees.</p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Pre-Closing Owners shall be responsible for
any accrued, unpaid interest, costs and expenses, prepayment premiums, breakage
fees or other charges payable to lenders in connection with the payment and
satisfaction at Closing of the principal balance of all mortgage and mezzanine
indebtedness encumbering the Properties, other than (x) the Existing Floating
Rate Debt encumbering the Troy Properties and (y) the Existing Fixed Rate Debt.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(k)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Pre-Closing Owners shall deliver proposed
prorations to Mack-Cali on or before the date that is three (3) business days
before the Closing Date.&#160; Upon approval
by Mack-Cali, the parties shall deliver the approved prorations statement (the
&#147;<b><font style="font-weight:bold;">Closing Statement</font></b>&#148;) to the Title
Company; provided that if any of such prorations were not accurately
determined, then the same shall be recalculated as soon as reasonably
practicable after the Closing Date and either party owing the other party a sum
of money based on such subsequent proration(s) shall promptly pay said sum to
the other party.</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">47</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(l)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>If any refund of any prorated item is made
after the Closing Date whether for a period prior to or on and after the
Closing Date, the same shall be applied first to the reasonable out-of-pocket
third party costs incurred in obtaining same and the appropriate pro rata
portion of the balance, if any, of such refund shall, to the extent received by
a Post-Closing Owner, be paid to Gale SLG (to the extent relating to the period
prior to Closing).</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(m)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Accrued, unpaid interest on the Existing
Fixed Rate Debt as of the Closing Date shall be for the account of the
Pre-Closing Owners.&#160; Pre-Closing Owners
shall be entitled to a credit in the amount of any unapplied cash reserves held
by lenders with respect to the Existing Fixed Rate Debt (with any common
reserves being allocated to the applicable Owners on the basis of contributions
thereto and withdrawals therefrom).</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(n)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>The Agreed Value of the Class C Assets shall
be adjusted upward at Closing to take account of any accrued and unpaid
distributions on account of the OP&#146;s interest in Gale SLG Naperville as of the
Closing Date.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(o)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Any errors or omissions in calculations or
adjustments shall be corrected or adjusted as soon as practicable after the
Closing.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(p)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>The provisions of this <b><font style="font-weight:bold;">Section 15</font></b> shall survive the Closing.</p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">16.</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><u><font style="font-weight:bold;">SURVIVAL; LIMITATION OF LIABILITY.</font></u></b></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(a)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Subject to <b><font style="font-weight:bold;">Section
16(b)</font></b>, all representations and warranties of the Gale SLG
Transferors contained in this Agreement shall survive the Closing for a period
of nine (9) months from the date of the Closing, provided that Mack-Cali must
give the Gale SLG Transferors written notice of any claim it may have against
any Gale SLG Transferor for a breach of such representation, or for the breach
of any covenant of a Gale SLG Transferor contained in this Agreement, within
nine (9) months after the Closing.&#160; Any
claim which Mack-Cali may have at any time, whether known or unknown, which is
not asserted within such nine (9) month period shall not be effective or valid,
and the Gale SLG Transferors shall have no liability therefor.&#160; In addition, Mack-Cali may not bring any
action against any Gale SLG Transferor unless and until the aggregate amount of
all liability and losses arising out of any breaches of this Agreement by the
Gale SLG Transferors exceeds $250,000, and except as set forth in <b><font style="font-weight:bold;">Section 16(b)</font></b>, in no event shall the
aggregate liability and losses of the Gale SLG Transferors with respect to
representations and warranties hereunder exceed $5,000,000.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(b)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Notwithstanding the provisions of <b><font style="font-weight:bold;">Section 16(a)</font></b>, (i) the representations and
warranties of the Gale SLG Transferors contained in <b><font style="font-weight:bold;">Sections&nbsp;8(a)(i) </font></b>through<b><font style="font-weight:bold;">
8(a)(ix) </font></b>and in<b><font style="font-weight:bold;"> Section 8(a)(xv)</font></b>
and <b><font style="font-weight:bold;">8(a)(xvi) </font></b>and in <b><font style="font-weight:bold;">Section 16(f) </font></b>(collectively, the &#147;<b><font style="font-weight:bold;">Entity-Related Representations</font></b>&#148;) shall
survive the Closing indefinitely, subject only to any applicable statute of
limitations, and (ii) in no event shall the aggregate liability of the Gale SLG
Transferors with respect to the Entity-Related Representations and under
Section&nbsp;11.05(b) of the JVLLC Operating Agreement<b><font style="font-weight:bold;"> </font></b>exceed $100,000,000.00.</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">48</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="2" width="100%" noshade color="gray" align="left"></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(c)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Any payments for liabilities to Mack-Cali by
reason of Entity-Related Representations with respect to the Thornall Interest,
Thornall Owner or the Thornall Property or the Waterview Interest, Waterview
Owner or the Waterview Property (in any such case, a &#147;<b><font style="font-weight:bold;">Non-Portfolio Property Payment</font></b>&#148;) shall be
made by Portfolio Mezz.&#160; To the extent
that any Non-Portfolio Property Payment made by Portfolio Mezz results in
diminished distributions by Portfolio Mezz to its sole member, the OP, causing
diminished distributions by the OP to its partners, and diminished
distributions by JVLLC to Gale SLG and Mack-Cali, Gale SLG shall pay to
Mack-Cali an amount equal to the difference between (x) the aggregate amount of
distributions received by Mack-Cali from JVLLC for the applicable period and
(y) the aggregate amount of distributions that would have been received by
Mack-Cali from JVLLC for the applicable period, had Portfolio Mezz not made a
Non-Portfolio Property Payment.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(d)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Any payments for liabilities to Mack-Cali by
reason of Entity-Related Representations with respect to the Challenger
Interest, Challenger Owner or its Challenger Property shall be made by
Challenger Mezz.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(e)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Gale SLG shall cause its members to
recontribute any distributions made by it to such members in connection with
the Transaction as and to the extent necessary to satisfy any liability it may
have under this <b><font style="font-weight:bold;">Section 16</font></b>.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(f)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Mack-Cali shall not be subject directly or
indirectly to any liability related to the Class C Assets, the Class C
Properties or the Class C Entities, beyond its indirect interest therein
through JVLLC.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(g)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>The provisions of this <b><font style="font-weight:bold;">Section 16</font></b> shall survive the Closing.</p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">17.</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><u><font style="font-weight:bold;">NOTICES.</font></u></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All notices, requests,
claims, demands and other communications hereunder shall be in writing and
shall be given or made (and shall be deemed to have been duly given or made
upon receipt) by delivery in person, by an internationally recognized overnight
courier service, by facsimile or registered or certified mail (postage prepaid,
return receipt requested) to the respective parties hereto at the following
addresses (or at such other address for a party as shall be specified in a
notice given in accordance with this <b><font style="font-weight:bold;">Section
17</font></b>):</font></p>

<p style="margin:0in 0in .0001pt 250.8pt;text-autospace:none;text-indent:-178.8pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="70%" style="border-collapse:collapse;margin-left:1.0in;width:70.0%;">
 <tr>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.02%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If to the Gale SLG Transferors:</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.94%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">c/o The Gale Company, L.L.C.</font></p>
  </td>
 </tr>
 <tr>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.02%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.94%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100 Campus Drive, Suite 200</font></p>
  </td>
 </tr>
 <tr>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.02%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.94%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Florham Park, NJ 07932</font></p>
  </td>
 </tr>
 <tr>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.02%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.94%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention: Stanley Gale</font></p>
  </td>
 </tr>
 <tr>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.02%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.94%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.02%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">With copies to:</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.94%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SL Green Realty Corp.</font></p>
  </td>
 </tr>
 <tr>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.02%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.94%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Graybar Building</font></p>
  </td>
 </tr>
 <tr>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.02%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.94%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">420 Lexington Avenue</font></p>
  </td>
 </tr>
 <tr>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.02%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.94%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New York, New York 10170</font></p>
  </td>
 </tr>
 <tr>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.02%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.94%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention: Andrew S. Levine, Esq.</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">49</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="2" width="100%" noshade color="gray" align="left"></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="70%" style="border-collapse:collapse;margin-left:1.0in;width:70.0%;">
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and to:</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Greenberg Traurig, LLP</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">200 Park Avenue</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New York, New York 10166</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attn: Robert J. Ivanhoe, Esq.</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Facsimile No.: (212) 801-6400</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If to Mack-Cali:</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">c/o Mack-Cali Realty Corporation</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11 Commerce Drive</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cranford, New Jersey 07016</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">with two (2)</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">separate copies</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">of the notice sent</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">to the attention of:</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mitchell E. Hersh</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">President and Chief Executive Officer</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Facsimile No: (908) 272-0214</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Roger W. Thomas</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Executive Vice President</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and General Counsel</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Facsimile No: (908) 272-0485</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">With a copy to:</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Seyfarth Shaw LLP</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1270 Avenue of the Americas</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Suite 2500</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New York, New York 10020</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attn: John P. Napoli</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Facsimile No: (212) 218-5527</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If to Escrowee:</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Commonwealth Land Title Insurance<br>
  Company</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Two Grand Central Tower</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">140 East 45<sup>th</sup> Street</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New York, New York 10017</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attn: Asher Fried, Esq.</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Facsimile No.: (212) 973-6723</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">18.</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><u><font style="font-weight:bold;">BROKERS.</font></u></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Each of Mack-Cali, on the
one hand, and the Gale SLG Transferors, on the other hand, represents and
warrants to the other that, other than Eastdil (&#147;<b><font style="font-weight:bold;">Broker</font></b>&#148;), it has not dealt with any brokers, finders or agents
with respect to the transaction contemplated hereby.&#160; Each party agrees to indemnify, defend and
hold harmless the other party, its successors, assigns and agents, from and
against the payment of any commission, compensation, loss, damages, costs, and
expenses (including without limitation attorneys&#146; fees and costs) incurred in
connection with, or arising out of, claims for any broker&#146;s, agent&#146;s or
finder&#146;s fees of any person claiming by</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">50</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">or through such party with respect to this transaction other than
Broker.&#160; The obligations of Mack-Cali and
the Gale SLG Transferors under this <b><font style="font-weight:bold;">Section&nbsp;18</font></b>
shall survive the Closing and the termination of this Agreement.<b><font style="font-weight:bold;">&#160; </font></b>The
fees, commissions, costs and/or expenses due to Broker shall be borne by Gale
SLG and paid at Closing.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:uppercase;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;text-transform:uppercase;">19.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>TAX MATTERS</u></font></b><b><u><font style="font-weight:bold;">.</font></u></b></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(a)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>The Gale SLG Transferors shall be liable for
and timely pay their proportionate share of any and all liabilities of the GP,
the OP, the Properties or any Property Subsidiary for all Taxes attributable to
taxable periods ending on or prior to the Closing (&#147;<b><font style="font-weight:bold;">Pre-Closing Period</font></b>&#148;).&#160;
Except as otherwise provided herein with respect to Straddle Periods (as
defined below), each of the Gale SLG Transferors and Mack-Cali shall be liable
for and timely pay its proportionate share of any and all liabilities of the
JVLLC, the GP, the OP, the Properties or any Property Subsidiary for all Taxes
attributable to taxable periods ending after the Closing (a &#147;<b><font style="font-weight:bold;">Post-Closing Period</font></b>&#148;); provided, however,
that any party&#146;s liability for Taxes shall be calculated by first determining
the Properties to which any such Tax liability relates (a &#147;<b><font style="font-weight:bold;">Class Tax Liability</font></b>&#148;) and then allocating
such Class Tax Liability to the Gale SLG Transferors and Mack-Cali in
accordance with their respective Class A Percentage Interest, Class B
Percentage Interest or Class C Percentage Interest, as the case may be.&#160; In any case where applicable law does not
permit the GP, the OP or any Property Subsidiary to close its Tax year as of
the Closing Date or in any case in which a Tax is assessed with respect to a
taxable period which includes the Closing Date (but does not begin or end on
that day) (a &#147;<b><font style="font-weight:bold;">Straddle Period</font></b>&#148;),
Taxes, if any, attributable to the Straddle Period shall be allocated to and be
payable by the Gale SLG Transferors for the period up to and including the
Closing Date (the &#147;<b><font style="font-weight:bold;">Pre-Closing Straddle
Period</font></b>&#148;) or the Gale SLG Transferors and Mack-Cali for the period
after the Closing Date (the &#147;<b><font style="font-weight:bold;">Post-Closing
Straddle Period</font></b>&#148;), which liability for Taxes relating to a
Post-Closing Straddle Period shall be allocated among the Gale SLG Transferors
and Mack-Cali in the same manner as liabilities for Taxes are allocated for a
Post-Closing Period.&#160; The Gale SLG
Transferors shall prepare and timely file all Tax Returns (including applicable
filing extensions) for the GP, the OP and all Property Subsidiaries for taxable
periods ended on or prior to the Closing (each a &#147;<b><font style="font-weight:bold;">Pre-Closing Tax Return</font></b>&#148;); provided, however, that the Gale SLG
Transferors shall provide the JVLLC and Mack-Cali with a copy of any such
Pre-Closing Tax Return no later than fifteen (15) calendar days prior to filing
such Pre-Closing Tax Return and shall within five (5) calendar days of filing
provide the JVLLC, the Gale SLG Transferors and Mack-Cali with a copy of any
such Pre-Closing Tax Return filed with any taxing authority. All Pre-Closing
Tax Returns shall be prepared in a manner consistent with the reporting of all
items of income or loss on prior Tax Returns of the GP, the OP or any Property
Subsidiary, unless otherwise required by applicable laws.&#160; The JVLLC shall prepare, or cause to be
prepared, and shall timely file (including applicable filing extensions) or cause
to be prepared and timely filed (including applicable filing extensions) all
Tax Returns for the GP, the OP and all Property Subsidiaries, other than the
Waterview Owner, the Challenger Owner and the Thornall Owner, for all Straddle
Periods (&#147;<b><font style="font-weight:bold;">Straddle Returns</font></b>&#148;).&#160; Straddle Returns shall be prepared in a
manner consistent with the reporting of all items of income and loss of prior
Tax Returns of the GP, the OP or any Property Subsidiary, unless otherwise
required by applicable laws.&#160; Any</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">51</font></p>

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</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">allocations of (i) Taxes to
a Pre-Closing Straddle Period shall be subject to Gale SLG Transferors&#146;
approval, which shall not be unreasonably withheld, (ii) Class Tax Liability to
Class A Properties or Class B Properties shall be subject to Mack-Cali&#146;s
approval, which shall not be unreasonably withheld, or (iii) Class Tax
Liability to Class B Properties or Class C Properties shall be subject to Gale
SLG Transferors&#146; approval, which shall not be unreasonably withheld. Taxes
payable with Straddle Returns shall be allocated between the Pre-Closing
Straddle Period and Post-Closing Straddle Period, as described above, based on
an assumed period ending on the Closing Date; provided, however, that Taxes not
based on income or receipts shall be allocated between the Pre-Closing Straddle
Period and Post-Closing Straddle Period based on the number of days in each
such taxable period.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(b)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>If any claim, demand, assessment (including a
notice of proposed assessment) or other assertion is made by a taxing authority
with respect to Taxes against the JVLLC, the GP, the OP, any Property
Subsidiary or the Properties, the calculation of which involves a specific
matter covered in this Agreement (&#147;<b><font style="font-weight:bold;">Tax Claim</font></b>&#148;),
or if the JVLLC, the GP, the OP or any Property Subsidiary receives any notice
from any taxing authority with respect to any current or future audit,
examination, investigation or other proceeding (&#147;<b><font style="font-weight:bold;">Proceeding</font></b>&#148;) involving the JVLLC, the GP, the OP, any Property
Subsidiary, or the Properties or that otherwise involves a specific matter
covered in this Agreement that could directly or indirectly materially affect
either the Gale SLG Transferors or Mack-Cali (adversely or otherwise), then the
JVLLC shall promptly notify the Gale SLG Transferors&#146; notice parties set forth
in <b><font style="font-weight:bold;">Section 17</font></b> (&#147;<b><font style="font-weight:bold;">Gale SLG Transferors&#146; Representatives</font></b>&#148;) and
the Mack-Cali&#160; notice parties set forth
in <b><font style="font-weight:bold;">Section 17</font></b> (&#147;<b><font style="font-weight:bold;">Mack-Cali&#146;s Representatives</font></b>&#148;) of such Tax
Claim or Proceeding.&#160; Any Tax Claim or
Proceeding that would increase any party&#146;s liability for Taxes for any taxable
period or could give rise to a claim for indemnification under this Agreement
shall be considered material.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(c)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>The Gale SLG Transferors shall have the right
to control the defense, settlement or compromise of any Proceeding or Tax Claim
with respect to the ownership or operations of the GP, the OP, any Property
Subsidiary or the Properties for any Pre-Closing Period, unless any such action
would reasonably be expected to result, directly or indirectly, in a material
adverse Tax effect or a liability or material increase in liability to
Mack-Cali for any Tax period, in which case, such action may not be taken
without Mack-Cali&#146;s consent.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The JVLLC shall have the
right to control the defense, settlement or compromise of any Proceeding or Tax
Claim with respect to the ownership or operations of the JVLLC, the GP, the OP,
any Property Subsidiary or the Properties for any Post-Closing Period, unless
any such action would reasonably be expected to result in a material adverse
Tax effect or a liability or material increase in liability to the Gale SLG
Transferors or Mack-Cali for any Tax period, in which case, such action may not
be taken without the Gale SLG Transferors&#146; consent and Mack-Cali&#146;s consent.&#160; Notwithstanding the foregoing, (i) each such
party shall keep the other parties, including, without limitation, Mack-Cali,
duly and contemporaneously informed of the progress of any Tax Claim or
Proceeding under its control to the extent that such Proceeding or Tax</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">52</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Claim could directly or
indirectly materially affect (adversely or otherwise) the Gale SLG Transferors
or Mack-Cali and shall afford the Gale SLG Transferors or Mack-Cali the right
to review and comment on any and all submissions made to any taxing authority
with respect to such Tax Claim or Proceeding and shall consider any such
comments in good faith, and (ii) subject to the balance of this <b><font style="font-weight:bold;">Section 19(c)</font></b>, neither the Gale SLG
Transferors nor the JVLLC shall consent to the entry of any judgment or enter
into any settlement with respect to a Tax Claim or Proceeding without the prior
written consent of the Gale SLG Transferors or Mack-Cali, as applicable.&#160; As a condition to withholding its consent to
a settlement proposal (i) a party must have a reasonable basis to believe that
such settlement would have a material adverse Tax effect or material increase
in liability to such party, and (ii) a party must believe, based on the advice
of a nationally recognized accounting or law firm, that it is more likely than
not that the position asserted by the party seeking consent would prevail if it
were to be asserted in a judicial proceeding.&#160;
A party withholding its consent to a settlement proposal shall assume
the subsequent costs of defending and asserting the positions asserted by such
party in a judicial proceeding, shall have the right to control such proceeding
and shall indemnify the other party for any Taxes and related interest and
penalties resulting from a subsequent judgment in excess of the amounts that
would have been imposed pursuant to the rejected settlement (but not any other
costs associated with such proceeding or any other issues involved therein).</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; From and after the Closing, the parties shall
provide each other with such assistance as may reasonably be requested by any
of them in connection with (i) the preparation of a Tax Return, election,
consent or certificate required to be prepared by any party hereto or (ii) any
Tax Claim or Proceeding.&#160; Such assistance
shall include making employees available on a mutually convenient basis to
provide additional information and explanation of any material provided
hereunder and shall include providing copies of any relevant Tax Returns and
supporting work schedules.</p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">20.</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><u><font style="font-weight:bold;">MISCELLANEOUS.</font></u></b></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(a)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Mack-Cali shall have no right to assign its
rights or obligations under this Agreement except for an assignment at Closing
to one or more controlled affiliates of Mack-Cali, provided that such assignees
shall expressly assume all obligations and liabilities of Mack-Cali
hereunder.&#160; Each of the Gale SLG
Transferors may assign its rights to an affiliate, to which such Gale SLG
Transferor transfers all right, title and interest in the GP and the OP, or
Challenger Owner, as applicable, immediately prior to Closing; provided that
such Gale SLG Transferor shall not thereby be relieved from any of its
obligations or liabilities under this Agreement (whether arising before or
after Closing ) and such assignee shall expressly assume all obligations and
liabilities of the Applicable Gale SLG Transferors hereunder.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(b)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>No party to this Agreement shall make, or
cause to be made, any press release or public announcement in respect of this
Agreement or the transactions contemplated by this Agreement or otherwise
communicate with any news media without the prior written consent of the other
parties unless otherwise required by law or applicable stock exchange
regulation, and the parties to this Agreement shall cooperate as to the timing
and contents of any such press release, public announcement or</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">53</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">communication.&#160; The provisions of this <b><font style="font-weight:bold;">Section 20(b)</font></b> shall survive the Closing and
termination of this Agreement.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(c)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>If any term or other provision of this
Agreement is invalid, illegal or incapable of being enforced by any law or
public policy, all other terms and provisions of this Agreement shall
nevertheless remain in full force and effect for so long as the economic or
legal substance of the transactions contemplated by this Agreement is not
affected in any manner materially adverse to either party hereto.&#160; Upon such determination that any term or
other provision is invalid, illegal or incapable of being enforced, the parties
hereto shall negotiate in good faith to modify this Agreement so as to effect
the original intent of the parties as closely as possible in an acceptable
manner in order that the transactions contemplated by this Agreement are
consummated as originally contemplated to the greatest extent possible.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(d)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>This Agreement (including the Exhibits and
the Schedules) constitute the entire agreement of the parties hereto with
respect to the subject matter hereof and thereof and supersede all prior
agreements and undertakings, both written and oral, between the Gale SLG
Transferors and Mack-Cali with respect to the subject matter hereof and
thereof, including the Letter of Intent dated February&nbsp;3, 2006 between
Mack-Cali Realty Acquisition Corp., The Gale Company, L.L.C. and SL Green
Realty Corp.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(e)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>This Agreement may not be amended or modified
except (a) by an instrument in writing signed by, or on behalf of, the Gale SLG
Transferors and Mack-Cali or (b) by a waiver in accordance with <b><font style="font-weight:bold;">Section 20(f)</font></b>.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(f)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Any party to this Agreement may (a) extend
the time for the performance of any of the obligations or other acts of the
other party, (b) waive any inaccuracies in the representations and warranties
of the other party contained herein or in any document delivered by the other
party pursuant hereto, or (c) waive compliance with any of the agreements of
the other party or conditions to such party&#146;s obligations contained
herein.&#160; Any such extension or waiver
shall be valid only if set forth in an instrument in writing signed by the party
to be bound thereby.&#160; Any waiver of any
term or condition shall not be construed as a waiver of any subsequent breach
or a subsequent waiver of the same term or condition, or a waiver of any other
term or condition of this Agreement.&#160; The
failure of either party hereto to assert any of its rights hereunder shall not
constitute a waiver of any of such rights.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(g)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>This Agreement shall be binding upon and
inure solely to the benefit of the parties hereto and their respective
successors and permitted assigns and nothing herein, express or implied is
intended to or shall confer upon any other person any legal or equitable right,
benefit or remedy of any nature whatsoever, including any rights of employment
for any specified period, under or by reason of this Agreement.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(h)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Unless otherwise specified in this Agreement,
all references to currency, monetary values and dollars set forth herein shall
mean United States (U.S.) dollars and all payments hereunder shall be made in
United States dollars.</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">54</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(i)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>This Agreement and all others arising out of
or relating to this Agreement shall be governed by, and construed in accordance
with, the laws of the State of New York, except to the extent that the laws of
the State in which any Property is located dictate that its laws shall govern
the issue in dispute.&#160; All actions
arising out of or relating to this Agreement shall be heard and determined
exclusively in any New York federal court sitting in the Borough of Manhattan of
the City of New York; provided, however, that if such federal court does not
have jurisdiction over such action, such action shall be heard and determined
exclusively in any New York state court sitting in the Borough of Manhattan of
the City of New York.&#160; Consistent with
the preceding sentence, the parties hereto hereby (a) submit to the exclusive
jurisdiction of any federal or state court sitting in the Borough of Manhattan
of the City of New York for the purpose of any action arising out of or relating
to this Agreement brought by any party hereto and (b) irrevocably waive, and
agree not to assert by way of motion, defense, or otherwise, in any such
action, any claim that it is not subject personally to the jurisdiction of the
above-named courts, that its property is exempt or immune from attachment or
execution, that the action is brought in an inconvenient forum, that the venue
of the action is improper, or that this Agreement or the transactions
contemplated by this Agreement may not be enforced in or by any of the
above-named courts.&#160; The provisions of
this <b><font style="font-weight:bold;">Section 20(i)</font></b> shall survive
the Closing and the termination of this Agreement.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(j)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>The parties hereto hereby waive to the
fullest extent permitted by applicable law any right they may have to a trial
by jury with respect to any litigation directly or indirectly arising out of,
under or in connection with this Agreement or the transactions contemplated by
this Agreement.&#160; Each of the parties
hereto hereby (a) certifies that no representative, agent or attorney of the
other party has represented, expressly or otherwise, that such other party
would not, in the event of litigation, seek to enforce the foregoing waiver and
(b) acknowledges that it has been induced to enter into this Agreement and the transactions
contemplated by this Agreement, as applicable, by, among other things, the
mutual waivers and certifications in this <b><font style="font-weight:bold;">Section
20(j)</font></b>.&#160; The provisions of this
<b><font style="font-weight:bold;">Section 20(j)</font></b> shall survive the
Closing and the termination of this Agreement.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(k)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>This Agreement may be executed and delivered
(including by facsimile transmission or portable document format (PDF)) in one
or more counterparts, and by the different parties hereto in separate
counterparts, each of which when executed shall be deemed to be an original,
but all of which taken together shall constitute one and the same agreement.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(l)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>This Agreement shall not be construed more
strictly against one party than against the other merely by virtue of the fact
that the Agreement may have been prepared primarily by counsel for one of the
parties, it being recognized that both the Gale SLG Transferors and Mack-Cali
have contributed substantially and materially to the preparation of this
Agreement.&#160; The provisions of this <b><font style="font-weight:bold;">Section 20(l)</font></b> shall survive the Closing.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(m)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>If, under the terms of this Agreement and the
calculation of the time periods provided for herein, the Closing Date or any
other date to be determined under</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">55</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">this Agreement should fall
on a day that is not a Business Day then such date shall be extended to the
next succeeding Business Day.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(n)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>All parties shall hold both the terms and
conditions of this Agreement and its existence as confidential information and
will not disclose such terms, conditions or existence, or the fact that
negotiations are taking place, to any third party without the other parties&#146;
prior written consent, except to the extent necessary to comply with law or to
conform to any party&#146;s general custom and practice.&#160; The provisions of this <b><font style="font-weight:bold;">Section&nbsp;20(n)</font></b> shall survive the
Closing and the termination of this Agreement.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(o)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>In connection with the Transaction, the Gale
SLG Transferors shall be responsible for their attorneys&#146; fees, all real estate
transfer taxes, all costs incurred to repay or satisfy any liens affecting any
Property or membership interests in any Owner, assumption fees and expenses
payable to lender in respect of the Debt Assumption pursuant to the documents
evidencing the Existing Fixed Rate Debt, prorations and apportionments as set
forth in <b><font style="font-weight:bold;">Section 15 </font></b>and one half
of all reasonable escrow fees.&#160; In
connection with the Transaction, Mack-Cali shall be responsible for its
attorneys&#146; fees, all title insurance and survey costs, the costs of its due
diligence investigations, prorations and apportionments as set forth in <b><font style="font-weight:bold;">Section 15 </font></b>and one-half of all reasonable
escrow fees.&#160; Except as otherwise
specified in this Agreement, all costs and expenses, including fees and
disbursements of counsel, financial advisors and accountants, incurred in
connection with this Agreement and the transactions contemplated by this
Agreement shall be borne by the party incurring such costs and expenses,
whether or not the Closing shall have occurred.&#160;
The provisions of this <b><font style="font-weight:bold;">Section 20(o)</font></b>
shall survive the Closing and the termination of this Agreement.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(p)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>From and after the Closing Date, the parties
hereto shall take such further actions and execute and deliver such further
documents and instruments as may be reasonably requested by the other parties
and are reasonably necessary to provide the respective parties hereto the
benefits intended to be afforded hereby.&#160;
The provisions of this <b><font style="font-weight:bold;">Section&nbsp;20(p)</font></b>
shall survive Closing.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(q)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Neither Mack-Cali nor any of its affiliates
has engaged in any dealings or transactions, directly or indirectly, (a) in
contravention of any U.S., international or other money laundering regulations
or conventions, including the United States Bank Secrecy Act, the United States
Money Laundering Control Act of 1986, the United States International Money
Laundering Abatement and Anti-Terrorist Financing Act of 2001, Trading with the
Enemy Act (50 U.S.C. &#167;1 et seq., as amended), or any foreign asset control
regulations of the United States Treasure Department (31 CFR, Subtitle B,
Chapter V, as amended) or any enabling legislation or executive order relating
thereto, or (b) in contravention of Executive Order No. 13224 dated September
24, 2001 issued by President of the United States (Executive Order Blocking
Property and Prohibiting Transactions with Persons Who Commit, Threaten To
Commit, or Support Terrorism), as may be amended or supplemented from time to
time or on behalf of terrorists or terrorist organizations.</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">56</font></p>

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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(r)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Notwithstanding anything to the contrary
contained in this Agreement, it is understood and agreed that none of the
employees, directors, officers, members, partners, managers, principals,
consultants, shareholders, advisors, attorneys, or agents of any of the Gale
SLG Transferors or their affiliates, shall have any personal liability or
obligation whatsoever for obligations under this Agreement or under any
documents delivered at Closing, and the individual assets of such parties shall
not be subject to any claims of any person relating to such obligations.&#160; Notwithstanding anything to the contrary
contained in this Agreement, it is understood and agreed that none of the
employees, directors, officers, members, partners, managers, principals,
consultants, shareholders, advisors, attorneys or agents of Mack-Cali shall
have any personal liability or obligation whatsoever for any obligations under
this Agreement of under any documents delivered at Closing, and the individual
assets of such parties shall not be subject to any claims of any person
relating to such obligations.&#160; However,
the foregoing shall not in any way limit the parties&#146; obligations and
liabilities under this Agreement.&#160; The
provisions of this <b><font style="font-weight:bold;">Section 20(r)</font></b>
shall survive the Closing and the termination of this Agreement.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(s)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Gale SLG understands that Mack-Cali may seek
to structure its acquisition of one or more of the Challenger Property, the
Waterview Property or the Thornall Property in such a way that will afford
Mack-Cali an opportunity to take advantage of the provisions of Code Section
1031 governing tax free exchanges and reorganizations.&#160; Gale SLG shall cooperate with Mack-Cali in
such efforts, which cooperation shall be at Mack-Cali&#146;s expense, except as
otherwise set forth below.&#160; Without
limiting the generality of the foregoing, (i) the parties hereto shall, at
Mack-Cali&#146;s request, sever this Agreement into separate agreements (each, a &#147;<b><font style="font-weight:bold;">Severed Contract</font></b>&#148;) for the Waterview
Interest, Challenger Interest, Thornall Interest and Mack-Cali Interest,
respectively and (ii) the applicable Gale SLG Transferor, as directed by
Mack-Cali, shall transfer the Challenger Interest, the Waterview Interest or
the Thornall Interest, as applicable, at Closing to one or more Qualified
Intermediaries (as defined in the Code) and not to Mack-Cali.&#160; The Severed Contracts shall reflect all of
the terms and provisions of this Agreement with respect to the Properties
covered thereby and drafts thereof shall be prepared by Mack-Cali&#146;s attorneys,
subject to review and approval by Gale SLG and its counsel (it being understood
that Gale SLG shall bear its own legal fees with respect to such review and
approval).&#160; Mack-Cali reserves the right,
in effectuating such like-kind exchanges, to assign its rights, but not its obligations,
under this Agreement with respect to the Challenger Interest, the Waterview
Interest or the Thornall Interest, as applicable, at Closing to such Qualified
Intermediaries, and Gale SLG hereby consents to such assignment.&#160; Mack-Cali shall indemnify, defend and hold
the Gale SLG Transferors harmless from and against any and all costs, loss,
liability and expenses, including attorneys&#146; fees and costs, arising out of or
in connection with any such like-kind exchange and any related matter arising
by reason of Gale SLG&#146;s obligations under this paragraph.</p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">21.</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><u><font style="font-weight:bold;">TROY TRANSACTION</font></u></b><b><font style="font-weight:bold;">.</font></b></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(a)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Mack-Cali acknowledges that Gale SLG is
currently pursuing a transaction with respect to recapitalizing the OP&#146;s
interest in the Troy Properties.&#160; It is</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">57</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">currently contemplated that
the OP will contribute its membership interest in the Troy Entities of to a
to-be-formed joint venture (the &#147;<b><font style="font-weight:bold;">Troy JV</font></b>&#148;)
between a newly-formed wholly-owned subsidiary of the OP, and an affiliate of Transwestern
Investment Company, L.L.C. in exchange for certain common equity and preferred
equity interests in the Troy JV having an Agreed Value of $9,500,000.00.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(b)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Mack-Cali hereby acknowledges, agrees and
consents to the transaction described in <b><font style="font-weight:bold;">Section
21(a)</font></b>, and/or any other transaction with respect to the disposition,
refinancing or recapitalization, in whole or in part, of the Troy Entities or
the Troy Properties (in any case, a &#147;<b><font style="font-weight:bold;">Troy
Transaction</font></b>&#148;) as may be entered into by Gale SLG, the OP, Portfolio
Mezz or the Troy Entities in the sole and absolute discretion of Gale SLG.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(c)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>Notwithstanding anything to the contrary
contained herein, Gale SLG shall be permitted to pursue any Troy Transaction or
series of Troy Transactions, to execute, deliver and perform under such
contracts and agreements with respect thereto on behalf of itself, the OP,
Portfolio Mezz or the Troy Entities as Gale SLG may deem advisable in its sole
and absolute discretion, to transfer, finance, encumber or otherwise pledge the
Troy Properties or the membership interests in the Troy Entities or take any
other action with respect to the Troy Entities in each in whole or in part or
the Troy Properties as Gale SLG shall determine in its sole and absolute
discretion.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(d)</font></b><b><font style="font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b>If a Troy Transaction closes on or before
Closing hereunder, the Clause&nbsp;C Amount shall be adjusted to equal the
Applicable Percentage Share of the net equity value of the OP&#146;s then-remaining
interest, direct or indirect, in the Troy Properties.</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">[Signature
Page Follows]</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">58</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="2" width="100%" noshade color="gray" align="left"></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">IN WITNESS
WHEREOF</font></b>, this
Agreement has been executed as of the date first above written.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">GALE SLG PARTIES:</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Gale SLG NJ LLC</font></b>, a Delaware limited</p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">liability company</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.58%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="19%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:19.58%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ STANLEY C. GALE</font></p>
  </td>
  <td width="26%" valign="top" style="padding:0in 0in 0in 0in;width:26.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name: Stanley C. Gale</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title: President</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Gale SLG NJ Mezz LLC, </font></b>a Delaware limited</p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">liability company:</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.58%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="19%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:19.58%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ STANLEY C. GALE</font></p>
  </td>
  <td width="26%" valign="top" style="padding:0in 0in 0in 0in;width:26.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name: Stanley C. Gale</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title: President</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Gale SLG Ridgefield Mezz LLC, </font></b>a Delaware</p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">limited liability company</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.58%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="19%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:19.58%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ STANLEY C. GALE</font></p>
  </td>
  <td width="26%" valign="top" style="padding:0in 0in 0in 0in;width:26.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name: Stanley C. Gale</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title: President</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">[ADDITIONAL
SIGNATURE PAGE FOLLOWS]</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">59</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="2" width="100%" noshade color="gray" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='59',FILE='C:\JMS\vdesio\06-6355-2\task899042\6355-2-ki-03.htm',USER='vdesio',CD='Mar 10 01:36 2006' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="55%" colspan="6" valign="top" style="padding:0in 0in 0in 0in;width:55.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">MACK-CALI:</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="55%" colspan="6" valign="top" style="padding:0in 0in 0in 0in;width:55.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="55%" colspan="6" valign="top" style="padding:0in 0in 0in 0in;width:55.84%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Mack-Cali Ventures L.L.C.</font></b>, a Delaware limited liability<br>
  company</p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="55%" colspan="6" valign="top" style="padding:0in 0in 0in 0in;width:55.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="55%" colspan="6" valign="top" style="padding:0in 0in 0in 0in;width:55.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="5%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:5.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">By:</font></b></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.42%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Mack-Cali Realty, L.P., </font></b>Sole Member</p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="5%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:5.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="5%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:5.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="5%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:5.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">By:</font></b></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.42%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Mack-Cali Realty Corporation, </font></b>General Partner</p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="55%" colspan="6" valign="top" style="padding:0in 0in 0in 0in;width:55.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="55%" colspan="6" valign="top" style="padding:0in 0in 0in 0in;width:55.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:5.36%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="23%" colspan="3" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:23.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ MITCHELL E. HERSH</font></p>
  </td>
  <td width="27%" valign="top" style="padding:0in 0in 0in 0in;width:27.06%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="55%" colspan="6" valign="top" style="padding:0in 0in 0in 0in;width:55.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="55%" colspan="6" valign="top" style="padding:0in 0in 0in 0in;width:55.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:6.26%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="44%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:44.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mitchell E. Hersh</font></p>
  </td>
 </tr>
 <tr>
  <td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:6.26%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="44%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:44.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">President and Chief Executive Officer</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="330" style="border:none;"></td>
  <td width="39" style="border:none;"></td>
  <td width="1" style="border:none;"></td>
  <td width="0" style="border:none;"></td>
  <td width="45" style="border:none;"></td>
  <td width="130" style="border:none;"></td>
  <td width="202" style="border:none;"></td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">60</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="2" width="100%" noshade color="gray" align="left"></div>

</div>
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