Dividend Capital Total Realty Trust Inc.
EX-10
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<TYPE>EX-10.21
<SEQUENCE>11
<FILENAME>a06-22076_1ex10d21.htm
<DESCRIPTION>EX-10
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<p align="right" style="margin:0pt 0pt 12.0pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 10.21</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PROPERTY
MANAGEMENT AGREEMENT</font></u></b></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This
Property Management Agreement (the &#147;<u>Agreement</u>&#148;) made as of the 16</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font>&#160;day of October, 2006, by and
between TRT Rickenbacker LLC, a Delaware limited liability company (&#147;<u>Owner</u>&#148;),
and Pizzuti Management LLC, an Ohio limited liability company (&#147;<u>Property
Manager</u>&#148;).</p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Owner
desires to retain the services of Property Manager, as an independent
contractor, in connection with the management and operation of the real
property owned by Owner identified on <u>Exhibit A</u>, attached hereto (&#147;<u>Property</u>&#148;)
and Property Manager desires to assume such responsibilities, upon the terms
and conditions set forth in this Agreement. If <u>Exhibit A</u> includes more
than one property, or if additional properties are added to this Agreement by
the written agreement of the parties from time to time, the term Property means
one property, some properties or all properties subject to the Agreement, as
the context may require.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In
consideration of the premises and the mutual promises and covenants herein contained,
and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, Owner and Property Manager agree as follows:</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Appointment</u>.
Subject to the terms and provisions of this Agreement, Owner hereby grants to Property
Manager, as an independent contractor, the exclusive right to manage and
operate the Property. Owner and Property Manager have entered into this
Agreement in reliance upon the unique knowledge, experience, reputation and
expertise of the other party and in reliance upon the duties of loyalty and
confidentiality which each party hereby agrees to undertake. Except as
otherwise expressly provided in this Agreement, neither party shall be required
to accept performance under this Agreement from any person, including, without
limitation, Owner or Property Manager, as the case may be, should it become a
debtor in possession under the United States Bankruptcy Code, or any trustee of
either appointed under the United States Bankruptcy Code and any assignee of
such party or trustee, other than the other party.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Term
and Termination.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Initial
Term</u>. The initial term of this Agreement shall commence on the date hereof,
or, if Owner is not the owner of the Property on such date, on the date Owner
closes on the purchase of the Property, and except as otherwise expressly
provided in this Agreement, shall continue until one (1) year following the
commencement of the term of this Agreement and from year to year thereafter
subject to termination as provided in subsection (c).</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Effect
of Expiration or Termination</u>. Any expiration or termination of this
Agreement shall not affect or impair any rights or obligations which have
accrued to either party hereto prior to such expiration or termination,
including, without limitation, the rights of Property Manager to receive
payments provided for hereunder. Upon Owner&#146;s termination of this Agreement
under this Section 2, Owner may send a transition team to the Property to participate
in the day-to-day operations of the Property and Property Manager shall cause
its employees and other personnel engaged in the management and operation of
the Property to</font></p>

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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">cooperate with Owner&#146;s transition team. Immediately upon the expiration
of the term hereof, Property Manager shall deliver to Owner all funds,
including tenant security deposits, tenant correspondence, property files,
vendor invoices and books and records of Owner related to the Property then in
possession or control of Property Manager. Within 60 days following expiration
or termination, Property Manager shall deliver to Owner a final accounting, in
writing, with respect to the operations of the Property.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Termination
upon Default</u>. Upon the occurrence of any breach of any term or provision of
this Agreement by a party (&#147;defaulting party&#148;), and after giving notice of such
breach and an opportunity to cure as provided below, the nondefaulting party
shall be entitled to terminate this Agreement immediately in addition to any
remedy such party may have at law or in equity. A defaulting party shall be
entitled to cure a monetary breach within 10 days after receipt of written
notice of such breach, or, in the case of a nonmonetary breach, within 30 days
after such notice provided that the defaulting party proceeds to diligently cure
such breach upon receipt of such notice.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Bankruptcy,
Insolvency</u>. If either party shall file a petition in bankruptcy or for a
reorganization or arrangement or other relief under the United States
Bankruptcy Code or any similar statute, or if any such proceeding shall be
filed against either party and is not dismissed or vacated within 60 days after
its filing, or if a court having jurisdiction shall issue an order or decree
appointing a receiver, custodian or liquidator for a substantial part of the property
of either party which decree or order remains in force undischarged and
unstayed for a period of 60 days, or if either party shall make an assignment
for the benefit of creditors or shall admit in writing its inability to pay its
debts as they become due, the other party may terminate this Agreement upon
five days written notice.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="letter-spacing:0pt;text-decoration:underline;"><u><font face="Times New Roman">Termination by Mortgagee</font></u></font>.
Notwithstanding anything to the contrary contained in this Agreement, the
holder or holders of any indebtedness of Owner secured by a first lien mortgage
or deed of trust encumbering the Property (a &#147;Mortgagee,&#148; as provided for in
Section 9 of this Agreement) shall have the right to terminate this Agreement
without cause upon thirty (30) days prior written notice to Property Manager in
the event such Mortgagee forecloses its lien on the Property, or accepts a deed
in lieu of foreclosure from Owner, or otherwise becomes a mortgagee in
possession of the Property.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Compensation.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Management
Fee</u>. As consideration for the performance by Property Manager of all of its
property management duties under this Agreement (except those set forth in
Section 4(e)(ii) for which Property Manager will be separately compensated
pursuant to the provisions of that Section), Owner agrees to pay to Property
Manager for each individual property subject to this Agreement and each month
during the term of this Agreement that the individual Property is subject to
this Agreement, a property management fee equal to the greater of 3% of gross
receipts or the minimum amount of $1,000 per month for each project (the &#147;<u>Management
Fee</u>&#148;). The Management Fee shall be paid not later than the tenth (10th) day
of the month following the month for which such fee is earned. &#147;Gross Receipts&#148;
means all receipts of every kind and nature derived from the operation of the
Property during a specified period determined on a cash basis, including,
without limitation, rent, rent adjustments, utility</font></p>

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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">charges, parking charges, service charges, proceeds of rent
interruption insurance and tenant reimbursements for operating expenses, taxes
and insurance; excluding: (i) security deposits (to the extent not applied to
delinquent rents) and other refundable deposits; (ii) lump sum payments, which
are not amortized, for above-standard tenant improvements; (iii) interest on
bank accounts for the operation of the Property; (iv) proceeds from the sale or
refinancing of the Property, or any part thereof; (v) insurance proceeds or
dividends received from any insurance policies pertaining to physical loss or damage
to the Property or any part thereof (but not proceeds of rent interruption
insurance); (vi) condemnation awards or payments received in lieu of
condemnation of the Property or any part thereof; and (vii) any trade discounts
and rebates received in connection with the purchase of personal property.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Payment
of Management Fee</u>. Provided that Property Manager is not in default under
this Agreement beyond applicable cure period, Property Manager shall be
entitled to pay itself the monthly Management Fee from the Property bank
account referred to in Section 6(a) hereof.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Reimbursable
and Nonreimbursable Costs</u>. All costs incurred by Property Manager in the
performance of its duties under this Agreement that are in accordance with the
approved Budget or within the greater of $1,500 or 10% of the applicable line
items in the approved Budget shall be reimbursed by Owner. Notwithstanding any
other provision herein or in any Budget, the following costs shall not be
reimbursable by Owner to Property Manager:</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; costs
relating to bookkeeping services required to be performed by Property Manager
hereunder unless such costs are approved by Owner in writing to Property
Manager;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; salaries
and payroll expenses of Property Manager&#146;s executives, personnel, and employees
of Property Manager, except maintenance personnel billed on an hourly or other
periodic basis and subject to the limitations in the Budget;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Property
Manager&#146;s off-site overhead and general administrative expenses, except long
distance telephone, fax, overnight delivery, courier, registered mail, copying,
entertainment (subject to Owner&#146;s prior approval in each instance), uniforms,
and two-way radios or cell phones, where such charges are directly related to
the operation of the Property;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; premiums
for insurance required to be maintained by Property Manager or any
subcontractors hereunder; and</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; costs
of Property Manager&#146;s principal and branch offices.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Duties.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>General
Management Duties</u>. Subject to the availability of funds provided under the
Budget, Property Manager shall manage and operate the Property in a manner
consistent with the management and operation of comparable properties, shall
provide such services as are customarily provided by a manager of properties of
comparable class and standing, and shall consult with Owner and keep Owner
advised as to all material or extraordinary matters and decisions affecting the
Property. Specifically, Property Manager shall,</font></p>

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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">at Owner&#146;s expense, perform the following services and duties for Owner
in a faithful, diligent and efficient manner:</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Property
Manager shall timely prepare and deliver to Owner such accounting and
operations reports as and in the manner required pursuant to Owner&#146;s standard
reporting requirements, as may be reasonably amended from time to time;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Maintain
businesslike relations with tenants of the Property whose service requests
shall be received, considered and recorded in systematic fashion in order to
show the action taken with respect to each request. Complaints of a serious
nature shall, after thorough investigation, be reported to Owner with
appropriate recommendations for addressing such complaints;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Exercise
commercially reasonable efforts to collect all rents and other sums and charges
due from tenants, subtenants, licensees and concessionaires of the Property;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Prepare
or cause to be prepared for execution and filing by Owner all forms, reports
and returns, if any, required by all federal, state, or local laws in
connection with unemployment insurance, workmen&#146;s compensation insurance,
disability benefits, Social Security and other similar taxes now in effect or
hereafter imposed, and also any other requirements relating to the contracting
of third party vendors for the Property; however, Property Manager shall not be
obligated to prepare any of Owner&#146;s local, state, or federal income tax
returns;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Pay
prior to delinquency all real estate taxes, sales tax, personal property taxes
and assessments levied against the Property, or any part thereof; and</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Subject
to the limitations of the applicable approved Budget adopted pursuant to
subsection (b) hereof, perform such other acts as are reasonable, necessary and
proper in the discharge of its duties under this Agreement.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Budgets</u>.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Budget
Approval Process</u>. Property Manager shall submit by September 1st of each
year during the term hereof (or such other date as Owner may request) a
proposed detailed, written estimate or projection of all receipts and
expenditures for the operation of the Property during the next Fiscal Year,
including, without limitation, all estimated rentals (including fixed,
percentage and escalation rents) and all estimated repairs, maintenance and
capital projects (&#147;<u>Budget</u>&#148;) for the ensuing Fiscal Year. Property
Manager shall submit the preliminary budget to Owner within 15 days after the
date hereof for the remainder of the Fiscal Year beginning on the date of this
Agreement. A &#147;<u>Fiscal Year</u>&#148; is a calendar year all or part of which falls
within the term of this Agreement. In the event Owner, in Owner&#146;s sole
judgment, disapproves of any proposed Budget submitted by Property Manager,
Owner shall give Property Manager written notice thereof in which event
Property Manager shall make all revisions thereto which Owner shall direct. Property
Manager shall resubmit the revised proposed Budget to Owner for approval. Until
Owner has approved the revised approved Budget, Property Manager may continue
to operate pursuant to the last approved Budget except for increased expenses
relating to taxes, insurance and utilities which should be paid on a current
basis. In the absence</font></p>

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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">of any written notice of approval within 60 days after delivery of a
proposed Budget to Owner, the proposed Budget shall be deemed to have been
approved by Owner.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Payment
of Budgeted Expenses</u>. Property Manager shall have the right to pay all
expenses according to the approved Budget, including the Management Fee.
Notwithstanding any other provision in this Agreement, without the prior
written consent of Owner, Property Manager shall not incur or permit to be
incurred expenses under this Agreement (excluding only utility expenses,
general real estate taxes, insurance premiums, financing costs and emergency
expenses) that exceed 10% of the applicable line items in the Budget (e.g.,
cleaning expenses, HVAC expenses, maintenance expenses, etc.) but in no event
that exceed $5,000. Property Manager shall promptly notify Owner whenever
Property Manager determines that the Budget or any expense item in the Budget
is insufficient to cover the expenses of operating the Property or the
applicable expense item.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Property
Personnel</u>. Property Manager shall employ, supervise, and discharge all
employees required in connection with the operation and management of the
Property. All such personnel shall, in every instance, be employees of Property
Manager or independent contractors. Property Manager shall provide and
maintain, so long as this Agreement is in force, worker&#146;s compensation
insurance in full compliance with all applicable state and federal laws and
regulations covering all employees of Property Manager performing work in
respect of the Property operations. The granting of unbudgeted employee fringe
benefits and plans not required by law or union contract shall be subject to
the reasonable prior written approval of Owner. Property Manager agrees to
comply with all governmental anti-discrimination laws and shall not, unless
acting at the direction of Owner, do any act, nor permit any act to be done
that would constitute a violation of any or all of such laws. Property Manager
shall indemnify and hold Owner harmless from and against any and all claims,
penalties, liabilities and expenses of whatsoever kind and nature which may be
asserted by any governmental body having authority or by any person claiming to
be aggrieved by reason of any acts or failure to act by Property Manager in
accordance with or in violation of any said anti-discrimination laws, as long
as such act or failure to act is not caused or directed by Owner.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Employees of the Property Manager or independent
contractors shall include the following:</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Property
Manager</u>. A person who is primarily responsible for overseeing the
management of the Property hereunder and who is experienced in the
administration and operation of warehouse, and/or light industrial, and/or
service center facilities of the size, type, use, and quality of the Property;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Others</u>.
Such other personnel required to operate and maintain the Property, including,
but not limited to, an assistant property manager, maintenance manager,
administrative and accounting personnel, grounds keepers, and janitorial and
custodial persons, as Property Manager reasonably deems necessary or consistent
with the level of service provided by other similarly situated property.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Contracts
and Supplies</u>. Property Manager shall, at Owner&#146;s expense, at the lowest
cost as in its judgment is consistent with good quality, workmanship and
service</font></p>

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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">standards, enter into contracts on behalf of Owner for the furnishing
to the Property of required utility services, heating and air-conditioning
services and other maintenance, pest control, and any other services and
concessions which are reasonably required in connection with the maintenance
and operation of the Property. Property Manager shall also place purchase
orders for services and Personal Property as are reasonably necessary to
properly maintain the Property. All such contracts and orders shall be subject
to the limitations set forth in the approved Budget. When taking bids or
issuing purchase orders, Property Manager shall use all reasonable efforts to
secure for and credit to Owner, any discounts, commissions or rebates
obtainable as a result of such purchases or services. Property Manager shall
use all reasonable efforts to make purchases and (where necessary or desirable)
let bids for necessary labor and materials at the lowest possible cost as in
its judgment is consistent with good quality, workmanship and service standards.
Property Manager shall not incur obligations to any person or entity in which
Property Manager or any of Property Manager&#146;s employees has a financial or
other interest or with which Property Manager or any such employee(s) is
affiliated unless: i) the price or fee therefore is not higher than that which
would have been charged as a result of a bona fide arms-length negotiation for
goods or services of comparable quality; and ii) Property Manager delivers to
Owner prior written notice and Owner gives its prior written approval of any
such proposed transaction.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Alterations,
Repairs and Maintenance</u>.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Budgeted
Repairs/Emergency Repairs</u>. Property Manager shall, at Owner&#146;s expense,
perform or cause to be performed all necessary or desirable repairs,
maintenance, cleaning, painting and decorating, alterations, replacements and
improvements in and to the Property as are customarily made by property
managers in the operation of properties of the kind, size, and quality of the
Property; provided, however, that no unbudgeted alterations, additions or improvements
involving a fundamental change in the character of the Property or constituting
a major new construction program shall be made without the prior written
approval of Owner unless specifically referenced in and performed pursuant to
any lease previously approved by Owner. In addition, no unbudgeted expenditure
in excess of $2,500 per item or a total of $10,000 per Fiscal Year shall be
made for such purposes in connection with any single Property without the prior
written approval of Owner. Emergency repairs involving manifest danger to life
or property, or immediately necessary for the preservation or the safety of the
Property, or for the safety of the tenants of the Property, or required to
avoid the suspension of any necessary service to the Property may be made,
however, by the Property Manager without prior approval and regardless of the
cost limitations imposed by this subsection (e). Property Manager shall as soon
as practicable give written notice to Owner of any such emergency repairs for
which prior approval is not required.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Capital
Improvements</u>. In connection with any capital improvements to the Property,
including, without limitation, tenant build-out, the Property Manager shall (i)
supervise, coordinate and arrange for the construction of all tenant
improvements made to any space in the Property , including, without limitation,
the preparation of estimates for the cost of construction of such tenant
improvements, the engaging of subcontractors and materialmen to perform such
tenant improvements and the supervision of construction of such tenant
improvements and (ii) perform such other construction management services as
may be reasonably required from time to time by Owner with respect to the
Property, including, without</font></p>

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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">limitation, those services set forth in subsection (iii) below. As
consideration for the provision by the Property Manager of such services, Owner
shall pay to the Property Manager an oversight fee (&#147;Oversight Fee&#148;) in an
amount equal to 10% of the total costs of such capital improvements, which fee
is in addition to the Management Fee. A portion of the Oversight Fee equal to
10% of the capital improvement costs incurred during the preceding month shall
be paid not later than the 10th day of each month, starting the month after
construction of the capital improvements commences.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Construction
Management Services</u>. In connection with all improvements, replacements, or
repairs to the Property (the &#147;<u>Work</u>&#148;), the Property Manager shall do the
following:</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; prepare a detailed list of the Work to be performed and
review the preparation of all plans for the construction of all improvements
and repairs to the Property. Except for any Work which is less than $2,500, the
plans for the Work to be performed shall be submitted to the Owner for its
approval;</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; except for any Work which is less than $2,500, prepare all
bid documents which shall be distributed to at least three (3) contractors on
the approved contractor list;</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; except for any Work which is less than $2,500, receive all
submitted bids and evaluate such bids. In evaluating the submitted bids,
Property Manager shall evaluate the price listed in the bid, the timeliness of
the work to be performed as stated in the bid, the reputation of the contractor
submitting the bid, and any other relevant factors that Property Manager
determines should be taken into account when evaluating the submitted bids. Once
Property Manager evaluates all the submitted bids, Property Manager shall
recommend to Owner the bid, if any, it believes is the best and shall explain
to Owner why the recommended bid is the best. Once Owner determines which bid
to accept, Property Manager shall contact the contractor with the approved bid
to award the contract;</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(4)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; review, inspect, and oversee the construction of all
improvements, replacements, or repairs to the Property to ensure that all said
improvements, replacements, and repairs comply with the construction contract
requirements and all applicable laws, including but not limited to local
building codes and ordinances;</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(5)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; ensure that all improvements, replacements, or repairs to
the Property are completed;</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(6)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; except for any Work which is less than $2,500 or for Work
for which a single payment will satisfy the obligation, prepare a draw package
for the disbursement of funds to the Contractor. The draw package or single
payment invoices shall be submitted to Owner for its approval;</font></p>

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<p style="margin:0pt 0pt 12.0pt 72.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(7)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; ensure that all guaranties and warranties for the
materials, labor, and for work in connection with or relating to the Work shall
be in the name of the Owner or shall be assigned to Owner upon the completion
of the Work; and</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(8)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; after receiving adequate and complete lien waivers from
all workers and suppliers and other applicable parties in connection with the
Work, after taking any and all steps necessary to release and to otherwise
prevent perfection or enforcement of any liens filed or recorded against the
Property in connection with the construction of any and all improvements or
replacements or repairs to the Property, and after receiving written approval
from Owner, disburse all funds to the proper and correct parties.</font></p>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
Property Manager shall provide written reports to Owner, no less frequently
than once a month, summarizing the repairs, improvements, and replacements
being constructed on the Property, as well as such other reports as Owner may
reasonably request. These reports shall, among other things, summarize any
material problems or issues which may arise in connection with said
construction.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Defects
and Warranties</u>. Property Manager shall give Owner written notice of any
material or latent defect in the Property and all parts thereof known to
Property Manager promptly after any of the foregoing comes to Property Manager&#146;s
attention including, without limitation, material defects in the roof,
foundation and walls of the Property and in the sewer, water, electrical,
structural, plumbing, heating, ventilation and air conditioning systems. Property
Manager shall make periodic visual inspections of the Property consistent with
its employees&#146; and agents&#146; expertise as referenced in Section 4(c)(i)
hereinabove. Property Manager shall have no obligation to discover any such
condition or make any other inspections, but Property Manager shall be required
to ascertain the existence of any contractor/subcontractor warranty or guaranty
and to submit a request to the appropriate contractor/subcontractor to repair
the defect as necessary.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Licenses
and Permits</u>. Property Manager shall, at Owner&#146;s expense, attempt to obtain
and maintain in the name of Owner all licenses and permits required of Owner or
Property Manager in connection with the management and operation of the
Property. Owner agrees to execute and deliver any and all applications and
other documents and to otherwise cooperate with Property Manager in applying
for, obtaining and maintaining such licenses and permits.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Compliance
with laws</u>. To the extent permitted by the approved Budget, Property Manager
shall use best efforts to comply with all applicable laws, regulations and
requirements of any federal, state or municipal government having jurisdiction
with respect to the use or manner of use of the Property or the maintenance or
operation thereof.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Legal
Proceedings</u>. Property Manager cannot and may not terminate any lease, lock
out a tenant, institute suit for rent or for use and occupancy, or proceedings
for recovery of possession, without the prior written approval of Owner. In
connection with such suits</font></p>

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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">or proceedings only legal counsel designated by Owner shall be
retained, and all such suits or proceedings shall be brought in the name of
Owner and shall be handled in such manner as Owner directs.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Inventory</u>.
Property Manager shall maintain a current inventory of all equipment supplies,
furnishings, furniture and all other items of personal property now or
hereafter owned by Owner and located upon or used, or useful for, or necessary
or adapted for the operation of the Property.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(j)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Signs</u>.
Property Manager may place one or more signs on or about the Property stating,
among other things, that Property Manager is the management and leasing agent
for the Property. All such signs and locations thereof shall be subject to
Owner&#146;s prior written approval.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(k)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Third
Party Vendors</u>. All third party vendors with whom Property Manager contracts
on behalf of Owner shall be required to submit certificates of insurance
evidencing that such vendor carries at least $1,000,000 in comprehensive
general liability insurance and such workers compensation insurance as may be required
by statute in the state in which the Property is located. If required by other
provisions of this Agreement, Owner shall be added as an additional named
insured on such policies of insurance.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(l)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Leases</u>.
In accordance with the terms and provisions of this Agreement, Property Manager
shall use commercially reasonable efforts to ensure that all tenants comply
with the terms and provisions of their leases and shall take customary actions
to enforce such leases.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(m)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Additional
Services</u>. If Property Manager shall perform such additional services as
Owner may reasonably request in writing, which are not specifically provided
for in this Section 4 above, Property Manager will be compensated for such
services on an hourly basis or on a negotiated fee basis.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Procedure
For Handling Receipts And Operating Capital.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Receipts</u>.
All monies received by Property Manager for or on behalf of Owner in connection
with the operation and management of the Property shall be promptly deposited
by Property Manager in an operating account or accounts established in Owner&#146;s
name at such bank as directed by Owner (&#147;<u>Operating Accounts</u>&#148;). Periodically
throughout the month, Owner, in its sole discretion, may remove any excess
funds from such Operating Accounts.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Disbursements</u>.
Owner shall deposit and maintain sufficient funds in the Operating Accounts,
and Property Manager shall withdraw and pay from such account or accounts, such
amounts at such times as the same are required in connection with the
management and operation of the Property in accordance with the provisions of
this Agreement.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Authorized
Signatories</u>. Certain officers and employees of Property Manager, approved
by Owner and designated on <u>Exhibit B </u>hereto, shall be authorized
signatories on the Operating Accounts and shall have authority to make
withdrawals from such Operating Accounts. In addition, Owner shall have at
least one officer or employee of Owner as an authorized signatory on each
Operating Account, which officer(s) or employee(s) of Owner shall</font></p>

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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">also be designated on <u>Exhibit B</u> hereto. Property Manager shall
cause all officers and employees of Property Manager who are so designated to
be bonded, at Property Manager&#146;s expense, in an amount required by Owner, but
not less than $50,000. Property Manager shall also cause all other officers,
employees, affiliates or agents of Property Manager who in any way handle funds
for the Property to be bonded, at no expense to Owner, in an amount not less
than $50,000.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Security
Deposits</u>. All security deposits of tenants of the Property shall be
maintained under the joint control of Owner and Property Manager in such manner
as Owner shall approve and as required by the applicable state law.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Accounting.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Books
and Records</u>. In accordance with the guidelines and operating procedures
established by Owner, Property Manager shall maintain, at the central office of
Property Manager, a comprehensive system of office records, books, computer
files and data and accounts pertaining to the Property (using such property management
accounting software that Owner may choose), which system currently is MRI. If
Owner changes its accounting/software systems from MRI (and provided that
Property Manager is not then using such systems otherwise), Owner shall pay all
of Property Manager&#146;s reasonable costs and expenses in implementing changes to
Property Manager&#146;s systems including, without limitation, reasonable training
expenses. Owner also has a website, xdrive.com, which Property Manager shall
also be required to maintain and/or access for additional required forms and
reports. Such systems (MRI &amp; xdrive.com), records, books, computer files
and data and accounts shall be available for examination, copying and audit by
Owner and its agents, accountants and attorneys during regular business hours. Property
Manager, during the term, shall preserve all records, books, computer files and
data and accounts for a period of three years and at the end of such period
shall deliver or make available to Owner such records, books, computer files and
data and accounts. All such records, books and computer files and data shall,
at all times, be the property of Owner.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Periodic
Statements; Audits.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Periodic
Statements</u>. Property Manager shall timely prepare and deliver to Owner such
accounting and operations reports as and in the manner required pursuant to
Owner&#146;s standard reporting requirements, as may be reasonably amended from time
to time.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Data
Processes</u>. Property Manager shall timely meet all designated deadlines for
inputting and maintaining data on Owner&#146;s MRI system (or other system hereafter
designated by Owner) so that Owner may download such data from Property Manager&#146;s
computers to Owner&#146;s computers on such designated deadlines.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Audit</u>.
In the event that Owner requires an audit, the audit shall be at Owner&#146;s
expense and the Property Manager shall cooperate with the auditors.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Other
Statements</u>. Owner may request and Property Manager shall provide when
available such monthly, quarterly and/or annual leasing and management reports
that relate to the operations of the Property as Property Manager customarily
provides the owners of other properties it manages.</font></p>

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<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Return
of Computer Hardware and Software</u>. Immediately following the termination of
this Agreement by either Owner or Property Manager, Property Manager shall
return and/or deliver to Owner, in good condition and working order, all
hardware, software, documentation, backup tapes, signature cartridges and all
other computer hardware and software purchased or otherwise provided by Owner
to Property Manager for Property Manager&#146;s use during the term of this
Agreement.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Insurance.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Insurance
by Owner</u>. Owner, at its expense, will obtain and keep in force adequate
insurance against physical damage (e.g., fire and extended coverage
endorsement, boiler, and machinery, etc.) and not less than $5,000,000
Occurrence and Aggregate general liability insurance against liability for
loss, damage, or injury to property or persons which might arise out of the
occupancy, management, operating, or maintenance of the Property covered by
this Agreement. Property Manager will be covered as an insured in its capacity
as a Real Estate Manager on all commercial general liability insurance obtained
by Owner. Owner shall save Property Manager harmless from any liability on
account of loss, damage, or injury provided:</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Property
Manager notifies Owner within twenty four hours after Property Manager receives
notice of any such loss, damage or injury;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Property
Manager takes no action (such as admission of liability) which bars Owner from
obtaining any protection afforded by any policy Owner may hold; and</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Property
Manager agrees that Owner shall have the exclusive right, at its option, to
conduct the defense to any claim, demand or suit within limits prescribed by
the policy or policies of insurance.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Property Manager shall furnish whatever
information is requested by Owner for the purpose of establishing the placement
of insurance coverages and shall aid and cooperate in every reasonable way with
respect to such insurance and any loss thereunder. Owner shall include in its
hazard policy covering the Property, the personal property, fixtures and
equipment located thereon (owned by either Property Manager or Owner),
appropriate clauses pursuant to which the insurance carriers shall waive the
rights of subrogation with respect to losses payable under such policies.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Indemnity</u>.
Owner agrees to indemnify, defend and hold Property Manager harmless from and
against any and all loss, cost, damage, liability or expense (including,
without limitation, attorneys&#146; fees, accountants&#146; fees, consultants&#146; fees,
court costs and interest) resulting from bodily injury or tangible property
damage and arising in connection with the Property to the extent the same were
caused by the gross negligence or willful misconduct of Owner, or its officers
or employees.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Property
Manager&#146;s Insurance</u>. Property Manager shall maintain, at its expense,
insurance coverages in the following amounts:</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Worker&#146;s
Compensation &#150; Coverage A: statutory amount</font></p>

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<p style="margin:0pt 0pt 12.0pt 72.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Coverage B: Employer&#146;s
Liability insurance:</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$500,000 Each Accident</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$500,000 Disease, Policy
Limit</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$500,000 Disease, Each
Employee</font></p>

<p style="margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Commercial General Liability, on an occurrence basis,
including Bodily Injury and Property Damage Liability, Personal and Advertising
Injury Liability for the following limits:</font></p>

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

<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;">
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="378" valign="top" style="padding:0pt .7pt 0pt 0pt;width:283.55pt;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><!-- SET mrlHTMLTableCenter -->General Aggregate</p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:5.0pt;">
  <p align="left" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="55" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:41.5pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,000,000</font></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="378" valign="top" style="padding:0pt .7pt 0pt 0pt;width:283.55pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="62" colspan="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:46.5pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="378" valign="top" style="padding:0pt .7pt 0pt 0pt;width:283.55pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Products -
  Completed Operations Aggregate</font></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:5.0pt;">
  <p align="left" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="55" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:41.5pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,000,000</font></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="378" valign="top" style="padding:0pt .7pt 0pt 0pt;width:283.55pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="62" colspan="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:46.5pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="378" valign="top" style="padding:0pt .7pt 0pt 0pt;width:283.55pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Each Occurrence</font></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:5.0pt;">
  <p align="left" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="55" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:41.5pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,000,000</font></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="378" valign="top" style="padding:0pt .7pt 0pt 0pt;width:283.55pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="62" colspan="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:46.5pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="378" valign="top" style="padding:0pt .7pt 0pt 0pt;width:283.55pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Personal and
  Advertising Injury Liability</font></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:5.0pt;">
  <p align="left" style="margin:0pt 0pt .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="55" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:41.5pt;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,000,000</font></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

</div>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Owned,
Hired and Non-Owned Business Automobile liability insurance in an amount no
less than $1,000,000 per accident Combined Single Limit for bodily injury and
property damage</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Property
Manager&#146;s Errors &amp; Omissions Insurance in an amount not less than
$1,000,000 per loss, aggregate.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Employee
Theft Insurance in an amount not less than $1,000,000. Employee Theft Insurance
policy shall be endorsed to name Owner as Additional Insured and to provide
coverage for theft of Owner&#146;s money, securities and other property by employees
of Property Manager.</font></p>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Property Insurance coverage for personal property of
Property Manager.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All coverage shall be provided by insurance
companies with a current Best&#146;s Rating of A VIII or higher. At the commencement
of the Agreement, Property Manager shall furnish Owner with Certificates of
Insurance. All insurance policies shall provide for 30 days&#146; written notice to
Owner prior to the cancellation or any material change to any provisions
therein. At least ten (10) days prior to the expiration of any such policy,
Property Manager will provide to Owner evidence of the renewal or replacement
of the aforesaid policies.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Indemnification
of Owner</u>. Property Manager agrees to defend and hold and save Owner free
and harmless from and against all expenses, claims, liabilities, losses,
judgments or damages, including reasonable attorneys&#146; fees actually incurred
(except to the extent covered by insurance carried by Owner), which Owner may
suffer or incur as a result of (1) any gross negligence or willful misconduct
of Property Manager or its agents, employees, independent contractors or others
under the direction or control of Property Manager, (2) any claim by or relating
to any employee of Property Manager against Owner, and/or (3) any act (by</font></p>

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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Property Manager, or its agents, employees, independent contractors or
others under the direction or control of Property Manager) outside the scope of
Property Manager&#146;s authority hereunder, and agrees to retain legal counsel
reasonably acceptable to Owner and at Property Manager&#146;s sole expense to defend
promptly and diligently any claim, action or proceeding brought against Owner
or Property Manager, jointly or severally, arising out of or in connection with
any of the foregoing. Owner shall have the right to be represented by advisory
counsel of its own selection and at its own expense.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">It is expressly understood and agreed that the
provisions of Section 7(b) hereinabove and the provisions of this Section 7(d)
shall survive the termination of this Agreement to the extent of any cause of
action arising from events occurring prior to such termination.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Subcontractor&#146;s
Insurance</u>. Property Manager shall require that all subcontractors brought
onto the Property have insurance coverage, at the subcontractor&#146;s expense, in
the following minimum amounts (which amounts may be increased at Owner&#146;s
written request, depending on the work to be performed):</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Workman&#146;s
Compensation &#150; statutory amount;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Employer&#146;s
Liability - $500,000/$500,000/$500,000 minimum;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Broad
Form Commercial General Liability (naming Owner and Property Manager as
additional insureds) - $1,000,000 per occurrence Combined Single Limit;
$2,000,000 aggregate (i.e., such insurance shall include contractual liability,
personal injury protection and completed operations coverage and hold harmless
provision in favor or Owner and Property Manager);</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Auto
Liability - $1,000,000 minimum; and</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Property
Insurance coverage for tools and equipment brought onto and/or used on the
Property by the subcontractor &#150; an amount equal to the replacement costs of all
such tools and equipment.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All such policies of insurance shall name Owner,
Property Manager and all other parties and/or entities required by Owner as
additional insureds thereunder, as their respective interests may appear.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Property Manager must obtain Owner&#146;s prior
permission to waive any of the above requirements. Property Manager shall
obtain and keep on file a certificate of insurance that shows the contractor is
so insured.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Subordination
to Mortgages.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Subordination</u>.
This Agreement and Property Manager&#146;s interest and rights hereunder, are
subject and subordinate to the lien of any first mortgage, whether now existing
or hereafter created on or against the Property, and all amendments,
restatements, renewals, modifications, consolidations, refinancings,
assignments and extensions thereof </font></p>

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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(&#147;<font style="letter-spacing:0pt;text-decoration:underline;"><u><font face="Times New Roman">Mortgage</font></u></font>&#148;),
without the necessity of any further instrument or act on the part of the
Property Manager. Property Manager agrees, at request of the holder of any such
Mortgage (the &#147;<font style="letter-spacing:0pt;text-decoration:underline;"><u><font face="Times New Roman">Mortgagee</font></u></font>&#148;),
to attorn to the Mortgagee and/or to execute such documentation as the
Mortgagee may reasonably require to evidence that Property Manager&#146;s interest
and rights hereunder are and shall be subject and subordinate at all times to
the lien of the Mortgage. The term &#147;Mortgage&#148; as used herein shall be deemed to
include deeds of trust, security agreements, assignments and any other
encumbrances, and any reference to the &#147;Mortgagee&#148; of a Mortgage shall be
deemed to include the beneficiary under a deed of trust. Notwithstanding the
foregoing, nothing herein shall obligate the Property Manager to continue its
performance under this Agreement unless it continues to be paid in accordance
with the terms of this Agreement.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Rights
after Events of Default</u>. In the event of any default under any Mortgage,
the Property Manager shall continue to perform its obligation under this
Agreement until the termination of this Agreement by the Mortgagee, which may
occur in the Mortgagee&#146;s sole discretion, as provided for in Section 2(f) of
this Agreement.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Miscellaneous
Provisions.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Notices</u>.
All notices, waivers, demands, requests, or other communications, except for
those approvals required under this Agreement which shall be sent by facsimile
or regular mail to the asset manager for that individual Property, required or
permitted hereunder shall, unless otherwise expressly provided, be in writing
and be deemed to have been properly given, served and received (i) if delivered
by messenger, when delivered, (ii) if mailed, upon deposit in the United States
mail, certified or registered, postage prepaid, return receipt requested, (iii)
if telexed, telegraphed, or telecopied, if such dispatch is followed by
delivery pursuant to (iv) below the next business day, or (v) if delivered by
reputable overnight express courier, freight prepaid, the next business day
after delivery to such courier; in every case addressed to the party to be
notified as follows:</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 180.0pt;text-indent:-108.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">To
Property Manager:</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Pizzuti Management LLC<u><br>
</u>Two Miranova Place, Suite 800<u><br>
</u>Columbus, OH 43215<u><br>
</u>Attn: General Counsel<br>
Telephone:&nbsp;&nbsp;&nbsp;&nbsp;614-280-4141<br>
Telefax:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614-280-5141</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 180.0pt;text-indent:-108.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">To
Owner:</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>TRT Rickenbacker LLC<br>
c/o DCT Industrial Fund II LLC<u><br>
</u>518 17<font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font>&#160;St,
Ste 1700<u><br>
</u>Denver, CO 80202<u><br>
</u>Attn: Bonnie Micus<br>
Telephone:&nbsp;&nbsp;&nbsp;&nbsp;303-228-2200<br>
Telefax:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303-228-2201</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">or
to such other address(es) or addressee(s) as any party entitled to receive
notice hereunder shall designate to the others in the manner provided herein
for the service of notices. Rejection or</font></p>

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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">refusal
to accept or inability to deliver because of changed address or because no
notice of changed address was given, shall be deemed receipt.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Severability</u>.
If any term, covenant or condition of this Agreement or the application thereof
to any person or circumstance shall, to any extent, be held to be invalid or
unenforceable, the remainder of this Agreement, or the application of such
term, covenant or condition to persons or circumstances other than those as to
which it is held invalid or unenforceable, shall not be affected thereby, and
each term, covenant or condition of this Agreement shall be valid and shall be
enforced to the fullest extent permitted by law.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>No
Joint Venture or Partnership</u>. Owner and Property Manager hereby renounce
the existence of any joint venture or partnership between them and agree that
nothing contained herein or in any document executed in connection herewith
shall be construed as making Property Manager and Owner joint venturers or
partners.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Modification,
Termination</u>. This Agreement may be amended or modified only by a written
instrument executed by Property Manager and Owner.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Total
Agreement</u>. This Agreement constitutes the entire agreement between the
parties hereto with respect to the subject matter hereof.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Article
and Section Headings</u>. Article and Section headings contained in this
Agreement are for reference only and shall not be deemed to have any
substantive effect or to limit or define the provisions contained herein.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Successors
and Assigns</u>. This Agreement shall be binding on the parties hereto, and
their successors and permitted assigns. Property Manager may not assign or
otherwise transfer its interest hereunder without the prior written consent of
Owner, which consent may be withheld arbitrarily in Owner&#146;s sole discretion. This
Agreement is freely assignable by Owner.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Governing
Law</u>. This Agreement shall be construed in accordance with the internal laws
of the state in which the Property is located.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Sarbanes
Oxley Act</u>. The Property Manager shall comply at all times with all policies
and procedures reasonably prescribed by the Owner with respect to the Project
and intended by Owner, in its sole discretion, to comply with Sarbanes Oxley
Act of 2002. Property Manager will bear all commercially reasonable expenses in
order to comply fully with such policies and procedures. The Property Manager
will be subject to periodic audits which will include the examination and testing
of such identified policies and procedures and any significant deviations
identified through such audit/test work may, at Owner&#146;s option, result in
termination of this Agreement if not corrected within thirty (30) days of
Property Manager&#146;s receipt of written notice thereof from Owner. Notwithstanding
anything to the contrary contained in this Agreement, all such policies and
procedures are subject to change in Owner&#146;s reasonable discretion and the
Property Manager must become compliant with such revised policies and
procedures within a reasonable amount of time following the delivery of such
revised policies and procedures.</font></p>

<br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(j)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Counterparts</u>.
This Agreement may be executed in several counterparts, each of which shall be
deemed to be an original, but all of which shall constitute one and the same
instrument.</font></p>

<br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SIGNATURE PAGE TO PROPERTY
MANAGEMENT AGREEMENT DATED OCTOBER 16, 2006 BETWEEN TRT RICKENBACKER LLC AND
PIZZUTI MANAGEMENT LLC</font></p>

<p style="margin:0pt 0pt 24.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IN WITNESS WHEREOF, this Agreement has been executed
as of the date first above written.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" bgcolor="white" style="background:white;border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="44%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:44.66%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --></p>
  </td>
  <td width="55%" colspan="11" valign="top" style="padding:0pt .7pt 0pt 0pt;width:55.34%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">OWNER:</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:44.66%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.0%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="52%" colspan="10" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.36%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:44.66%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="55%" colspan="11" valign="top" style="padding:0pt .7pt 0pt 0pt;width:55.34%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">TRT RICKENBACKER LLC, a Delaware
  limited liability<br>
  company</font></b></strong></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:44.66%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.0%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="52%" colspan="10" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.36%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:44.66%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.0%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="4%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.54%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">By:</font></b></strong></p>
  </td>
  <td width="47%" colspan="8" valign="top" style="padding:0pt .7pt 0pt 0pt;width:47.82%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DCT Industrial Fund II LLC, its Authorized<br>
  Signatory pursuant to written agreement</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:44.66%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.0%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="4%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.54%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="47%" colspan="8" valign="top" style="padding:0pt .7pt 0pt 0pt;width:47.82%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:44.66%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.0%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="4%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.54%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="47%" colspan="8" valign="top" style="padding:0pt .7pt 0pt 0pt;width:47.82%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:44.66%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.0%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="4%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.54%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="4%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.76%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">By:</font></b></strong></p>
  </td>
  <td width="43%" colspan="5" valign="top" style="padding:0pt .7pt 0pt 0pt;width:43.04%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">Dividend
  Capital Operating<br>
  Partnership LP, a Delaware limited<br>
  partnership, its sole member</font></b></strong></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:44.66%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.0%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="4%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.54%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="4%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.76%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="43%" colspan="5" valign="top" style="padding:0pt .7pt 0pt 0pt;width:43.04%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:44.66%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.0%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="4%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.54%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="4%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.76%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="43%" colspan="5" valign="top" style="padding:0pt .7pt 0pt 0pt;width:43.04%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">By:
  Dividend Capital Trust Inc.,<br>
  a Maryland corporation, its general<br>
  partner</font></b></strong></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:44.66%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.0%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="4%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.54%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="4%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.76%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="43%" colspan="5" valign="top" style="padding:0pt .7pt 0pt 0pt;width:43.04%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:44.66%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.0%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="4%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.54%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="4%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.76%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.06%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">By:</font></b></strong></p>
  </td>
  <td width="26%" colspan="3" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:26.32%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.66%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:44.66%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.0%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="4%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.54%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="4%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.76%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="43%" colspan="5" valign="top" style="padding:0pt .7pt 0pt 0pt;width:43.04%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">Bonnie
  Micus</font></b></strong></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:44.66%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.0%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="4%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.54%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="4%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.76%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="43%" colspan="5" valign="top" style="padding:0pt .7pt 0pt 0pt;width:43.04%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:44.66%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.0%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="4%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.54%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="4%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.76%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="43%" colspan="5" valign="top" style="padding:0pt .7pt 0pt 0pt;width:43.04%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">Senior
  Vice President/Director of<br>
  Property Management</font></b></strong></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:44.66%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.0%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="4%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.54%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="4%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.76%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="43%" colspan="5" valign="top" style="padding:0pt .7pt 0pt 0pt;width:43.04%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:44.66%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.0%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="4%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.54%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="4%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.76%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="5%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date:</font></p>
  </td>
  <td width="25%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:25.38%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.66%;">
  <p style="margin:0pt 0pt .0001pt;"><strong style="letter-spacing:0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></strong></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:44.66%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" colspan="10" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.36%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:44.66%;">
  <p style="margin:0pt 0pt .0001pt;"><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:0pt .7pt 0pt 0pt;width:3.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" colspan="10" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.36%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PROPERTY
  MANAGER:</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:44.66%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" colspan="10" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.36%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:44.66%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" colspan="10" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pizzuti
  Management LLC</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:44.66%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" colspan="10" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:44.66%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" colspan="10" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:44.66%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.82%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="35%" colspan="8" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:35.88%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.66%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:44.66%;">
  <p style="margin:0pt 0pt .0001pt;"><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:0pt .7pt 0pt 0pt;width:3.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" colspan="4" valign="top" style="border:none;border-top:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:6.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="33%" colspan="5" valign="top" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:33.3%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.66%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:44.66%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.32%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="34%" colspan="6" valign="top" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:34.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.66%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:44.66%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" colspan="10" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:44.66%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.32%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date:</font></p>
  </td>
  <td width="29%" colspan="5" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:29.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:17.24%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="334" style="border:none;"></td>
  <td width="22" style="border:none;"></td>
  <td width="29" style="border:none;"></td>
  <td width="5" style="border:none;"></td>
  <td width="6" style="border:none;"></td>
  <td width="8" style="border:none;"></td>
  <td width="22" style="border:none;"></td>
  <td width="30" style="border:none;"></td>
  <td width="7" style="border:none;"></td>
  <td width="156" style="border:none;"></td>
  <td width="34" style="border:none;"></td>
  <td width="95" style="border:none;"></td>
 </tr>
</table>

<p style="margin:0pt 0pt .0001pt 180.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<br><hr size="3" width="100%" noshade color="#010101" align="center">

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

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">to Property Management
Agreement dated October 16, 2006<br>
by and between TRT Rickenbacker LLC and Pizzuti Management LLC</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">LIST OF PROPERTIES COVERED
BY THIS AGREEMENT</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Addresses:</font></p>

<p style="margin:0pt 0pt 24.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1. 2400 Spiegel Drive, Groveport, OH</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Which property(ies) are more particularly described as follows:</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1. Legal description (See Page Attached)</font></p>

<br><hr size="3" width="100%" noshade color="#010101" align="center">

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

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">to Property Management
Agreement dated October 16, 2006<br>
by and between TRT Rickenbacker LLC and Pizzuti Management LLC</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DESIGNATED SIGNATORIES</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="100%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:100.0%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading -->TRT Rickenbacker LLC, by DCT
  Industrial Fund II LLC</p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="100%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:100.0%;">
  <p style="margin:12.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Matthew T.
  Murphy, Vice President</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="100%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:100.0%;">
  <p style="margin:12.0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="100%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:100.0%;">
  <p style="margin:12.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>

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

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

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ronald
A. Pizzuti, Chairman and CEO</font></p>

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

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Joel
S. Pizzuti, President and COO</font></p>

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

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Michael
P. Keegan, Executive Vice President and Treasurer</font></p>

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

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Scott
B. West, Senior Vice President and General Counsel</font></p>

</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

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