FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY
EX-10.15
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<TYPE>EX-10.15
<SEQUENCE>6
<FILENAME>ex10-15.htm
<DESCRIPTION>EX-10.15
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<P STYLE="border-top: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">EXBHIBIT 10.15</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>PURCHASE AND SALE AGREEMENT</U></B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>THIS THIRD AMENDMENT TO PURCHASE
AND SALE AGREEMENT</B> (this &ldquo;<B><U>Amendment</U></B>&rdquo;), is effective as of December 28, 2021 (the &ldquo;<U>Effective Date</U>&rdquo;),
by and among WestFREIT Corp., a Maryland corporation (&ldquo;<U>Westridge Owner</U>&rdquo;), Damascus Centre, LLC, a New Jersey limited
liability company (&ldquo;<U>Damascus Owner</U>&rdquo;), and Grande Rotunda, LLC, a Maryland limited liability company (&ldquo;<U>Rotunda
Owner</U>&rdquo;; each also individually &ldquo;<U>Seller</U>,&rdquo; and collectively, &ldquo;<U>Seller</U>&rdquo;); and MCB Acquisition
Company LLC, a Maryland limited liability company (&ldquo;<U>Purchaser</U>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>W I T N E S S E T H</U>:</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0.5in">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seller
and Purchaser entered into that certain Purchase and Sale Agreement dated November 22, 2021 (the &ldquo;<B><U>Original Agreement</U></B>&rdquo;),
as amended by the First Amendment to Purchase and Sale Agreement dated December 22, 2021 (the &ldquo;<B><U>First Amendment</U></B>&rdquo;),
and as further amended by the Second Amendment to Purchase and Sale Agreement dated as of December 23, 2021 (the <B><U>Second Amendment</U></B>&rdquo;,
and together with the Original Agreement and the First Amendment, the &ldquo;<B><U>Agreement</U></B>&rdquo;) for the purchase of three
(3) properties located in Maryland described in the Agreement as the Westridge Property, the Damascus Property and the Rotunda Property,
and as more particularly described in the Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0.5in">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The First Amendment
extended the Due Diligence Period to 6:00 P.M. Eastern Time on December 23, 2021, and the Second Amendment further extended the Due Diligence
Period to 3:00 P.M. Eastern Time on December 28, 2021.&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0.5in">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seller
and Purchaser have agreed to further amend the Agreement as set forth below in this Amendment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, in consideration
of the mutual covenants of Seller and Purchaser set forth below and for other good and valuable consideration, the receipt and sufficiency
of which the parties acknowledge, Seller and Purchaser agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Incorporation of Recitals</U>. The recitals set forth above are hereby incorporated into and made
a part of this Amendment.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Definitions</U>. Unless otherwise expressly provided herein, all capitalized terms not expressly
defined herein shall have the same meanings ascribed to such terms in the Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Amendment of Purchase Price</U>. Section 2.1(a) of the Agreement is hereby deleted in its entirety
and replaced with the following: </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 1in; text-align: justify; text-indent: 0.5in">&ldquo;2.1 <U>Purchase
Price</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 1in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
purchase price for the Properties (the &ldquo;<U>Purchase Price</U>&rdquo;) shall be Two Hundred Forty-Eight Million Seven Hundred Fifty
Thousand Two Hundred Sixty Nine and 40/100 Dollars ($248,750,269.40) which shall be allocated among the Properties as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%; border-collapse: collapse; margin-left: 1in">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Westridge Property:</FONT></TD>
    <TD STYLE="width: 50%; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">$20,984,604.02</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Damascus Property:</FONT></TD>
    <TD STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">$36,685,066.72</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%; border-collapse: collapse; margin-left: 1in">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">Rotunda Property:</FONT></TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">$191,080,598.66&rdquo;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Amendment to Closing Date</U>. The Closing Date set forth in Section 3.1 of the Original Agreement
is hereby amended to mean the earlier of (a) the date that is five (5) Business Days after Seller&rsquo;s delivery of the Required Estoppel
Certificates pursuant to Section 7.9 of the Original Agreement and (b) January 14, 2021. Any provisions of the Agreement to the contrary
notwithstanding, Seller shall have no further right to extend the Closing Date beyond January 14, 2021.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Deposit of Funds in the Post-Closing Lease Escrows</U>. Seller and Purchaser agree that the first
sentence of Section 2.2(a) of the Original Agreement is hereby amended by deleting the phrase &ldquo;At Closing, a portion of the Purchase
Price shall be held in escrow (the &ldquo;<U>Post-Closing Lease Escrow&rdquo;</U>) by the Escrow Agent&rdquo; and substituting in lieu
thereof &ldquo;At Closing Purchaser shall deposit in escrow (the &ldquo;<U>Post Closing Lease Escrow</U>&rdquo;) with the Escrow Agent,&rdquo;
such that Purchaser, in lieu of Seller, shall be obligated to deposit in the Post-Closing Lease Escrow the following amounts for each
of the Properties:</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%; border-collapse: collapse; margin-left: 1in">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-bottom: 12pt; text-align: justify; text-indent: 0in">Westridge Property:</TD>
    <TD STYLE="width: 50%; padding-bottom: 12pt; text-align: justify; text-indent: 0in">&nbsp;&nbsp;$1,015,395.98</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt; text-align: justify; text-indent: 0in">Damascus Property:</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: justify; text-indent: 0in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$484,933.28</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt; text-align: justify; text-indent: 0in">Rotunda Property:</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: justify; text-indent: 0in">$14,026,401.34</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">In addition, the form of
agreement attached hereto as <U>Exhibit A</U> is hereby approved and shall serve as the Tenant Escrow Agreement for the Rotunda Property
for purposes of the Agreement, and will serve as the basis for the form of Tenant Escrow Agreement for the Westridge Property and the
Damascus Property, with all references to, and provisions for the benefit of, the &ldquo;Lender&rdquo; deleted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Expiration of the Due Diligence Period</U>. Purchaser acknowledges and agrees that effective as
of the Effective Date, the Due Diligence Period, which was extended pursuant to the First Amendment and the Second Amendment, is hereby
expired. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt"><U>Full Force and Effect</U>. Except as amended hereby, the Agreement remains unmodified and in full
force and effect.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt"><U>Counterparts</U>. This Amendment may be executed in any number of counterparts, and each such
counterpart shall be deemed to be an original instrument, but all such counterparts together shall constitute a single agreement. A signature
delivered via facsimile, email, or attachment to email shall be equally as effective as an original signature delivered in-person, via
mail, or via any other means.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt">&nbsp;</P>

<P STYLE="font: 10pt/14.4pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">[SIGNATURE PAGES FOLLOW]</P>

<P STYLE="font: 10pt/14.4pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">2</P>


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<P STYLE="font: 10pt/14.4pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF,
the parties have executed this Amendment as of the day and year first above written.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-decoration: underline">SELLER:</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 32%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 31%">&nbsp;</TD>
    <TD STYLE="width: 32%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">WestFREIT Corp.,</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">a Maryland corporation</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By: </TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Robert S. Hekemian, Jr.</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Name: Robert S. Hekemian, Jr.</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Title: CEO and President</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Damascus Centre, LLC,</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">a New Jersey limited liability company</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By: <U></U></TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Robert S. Hekemian, Jr.</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Name: Robert S. Hekemian, Jr.</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Title: CEO and President</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Grande Rotunda, LLC,</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">a Maryland limited liability company</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By: </TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Robert S. Hekemian, Jr.</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Name: Robert S. Hekemian, Jr.</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Title: CEO and President</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">[Signatures Continue on Following Page]</P>

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<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><FONT STYLE="font-size: 10pt">[Signature Page to
Third Amendment to Purchase and Sale Agreement &ndash; MCB/Hekemian]</FONT></P>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-decoration: underline; white-space: nowrap">PURCHASER:</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; width: 32%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 5%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 31%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 32%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap">MCB Acquisition Company, LLC,</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap">a Maryland limited liability company</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">By:</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid">/s/ P. David Bramble</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">P. David Bramble</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">Executive Manager</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD></TR>
  </TABLE>
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<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><FONT STYLE="font-size: 10pt">[Signature Page to
Third Amendment to Purchase and Sale Agreement &ndash; MCB/Hekemian]</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Form of Post-Closing Escrow Agreement</P>

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

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