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EXHIBIT 99(a)
PURCHASE AGREEMENT FOR REAL PROPERTY
AND ESCROW INSTRUCTIONS
BETWEEN
EQK REALTY INVESTORS I,
a Massachusetts business trust
As Seller
AND
K/B REALTY ADVISORS, INC.,
a Delaware corporation
As Buyer
(CASTLETON PARK,
INDIANAPOLIS, INDIANA)
November 16, 1995
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TABLE OF CONTENTS
Page
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1. PURCHASE OF PROPERTY . . . . . . . . . . . . . . . . . . . -1-
2. BASIC TERMS AND DEFINITIONS . . . . . . . . . . . . . . . -1-
2.1 PROPERTY . . . . . . . . . . . . . . . . . . . . -1-
2.2 BUYER . . . . . . . . . . . . . . . . . . . . . . -2-
2.3 SELLER . . . . . . . . . . . . . . . . . . . . . -2-
2.4 PURCHASE PRICE . . . . . . . . . . . . . . . . . -2-
2.5 TERMS OF PURCHASE . . . . . . . . . . . . . . . . -2-
2.6 OUTSIDE DATE . . . . . . . . . . . . . . . . . . -3-
2.7 FEASIBILITY PERIOD . . . . . . . . . . . . . . . -3-
2.8 ESCROW . . . . . . . . . . . . . . . . . . . . . -3-
2.9 ESCROW HOLDER . . . . . . . . . . . . . . . . . . -3-
2.10 TITLE COMPANY . . . . . . . . . . . . . . . . . . -3-
3. CONDITIONS PRECEDENT TO BUYER'S PERFORMANCE . . . . . . . -3-
3.1 TITLE CONDITION . . . . . . . . . . . . . . . . . -3-
3.2 GENERAL FEASIBILITY . . . . . . . . . . . . . . . -4-
3.3 ESTOPPEL CERTIFICATE . . . . . . . . . . . . . . -6-
3.4 ISSUANCE OF TITLE POLICY . . . . . . . . . . . . -7-
3.5 VALIDITY OF REPRESENTATIONS AND WARRANTIES . . . -7-
3.6 PERFORMANCE OF COVENANTS . . . . . . . . . . . . -7-
3.7 NO MATERIAL CHANGES . . . . . . . . . . . . . . . -7-
3.8 DELIVERY OF DOCUMENTS . . . . . . . . . . . . . . -7-
3.9 BLUE LUSTRE HOME CARE PRODUCT, INC. AGREEMENT . . -7-
3.10 LEASE WORK AND RESERVE AGREEMENT . . . . . . . . -8-
3.11 SCOPE OF TENANT IMPROVEMENTS . . . . . . . . . . -9-
4. CONDITIONS PRECEDENT TO SELLER'S PERFORMANCE . . . . . . . -9-
4.1 PERFORMANCE OF COVENANTS . . . . . . . . . . . . -9-
4.2 DELIVERY OF PAYMENT AND DOCUMENTS . . . . . . . . -9-
4.3 VALIDITY OF REPRESENTATIONS AND WARRANTIES . . . -9-
5. CLOSING
5.1 THE CLOSING . . . . . . . . . . . . . . . . . . . -9-
5.2 SELLER'S CLOSING OBLIGATIONS . . . . . . . . . . -10-
5.3 BUYER'S CLOSING OBLIGATIONS . . . . . . . . . . . -11-
5.4 TITLE POLICY . . . . . . . . . . . . . . . . . . -11-
6. TERMINATION OF THIS AGREEMENT. . . . . . . . . . . . . . . -11-
6.1 FAILURE TO CLOSE BY OUTSIDE DATE . . . . . . . . -11-
6.2 FAILURE OF A CONDITION . . . . . . . . . . . . . -11-
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TABLE OF CONTENTS
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6.3 CONSEQUENCES OF TERMINATION . . . . . . . . . . . -12-
6.4 ESCROW CANCELLATION AND TITLE COMPANY CHARGES . . -12-
6.5 LIQUIDATED DAMAGES . . . . . . . . . . . . . . . -12-
7. GENERAL ESCROW PROVISIONS . . . . . . . . . . . . . . . . -13-
7.1 ESCROW INSTRUCTIONS . . . . . . . . . . . . . . . -13-
7.2 OPENING OF ESCROW . . . . . . . . . . . . . . . . -13-
7.3 GENERAL PROVISIONS . . . . . . . . . . . . . . . -13-
7.4 PRORATIONS . . . . . . . . . . . . . . . . . . . -13-
7.5 PAYMENT OF COSTS . . . . . . . . . . . . . . . . -16-
7.6 ESCROW HOLDER AUTHORIZED TO COMPLETE BLANKS . . . -16-
7.7 RECORDATION AND DELIVERY OF DOCUMENTS . . . . . . -16-
8. BROKERAGE COMMISSIONS . . . . . . . . . . . . . . . . . . -17-
9. REPRESENTATIONS AND WARRANTIES . . . . . . . . . . . . . . -17-
9.1 REPRESENTATIONS AND WARRANTIES OF BUYER . . . . . -17-
9.2 STANDARD REPRESENTATIONS AND WARRANTIES OF SELLER -17-
9.3 LIMITED REPRESENTATIONS AND WARRANTIES OF SELLER -18-
9.4 "AS IS" . . . . . . . . . . . . . . . . . . . . . -19-
10. CONDUCT DURING ESCROW PERIOD . . . . . . . . . . . . . . . -19-
10.1 LICENSE TO ENTER . . . . . . . . . . . . . . . . -20-
10.2 NO NEW OR MODIFIED LEASES OR CONTRACTS WITHOUT
CONSENT . . . . . . . . . . . . . . . . . . . . . -20-
10.3 INSURANCE . . . . . . . . . . . . . . . . . . . . -22-
10.4 OPERATION OF PROPERTY . . . . . . . . . . . . . . -22-
10.5 NO FURTHER ENCUMBRANCE . . . . . . . . . . . . . -22-
10.6 PRORATIONS . . . . . . . . . . . . . . . . . . . -22-
11. CONDEMNATION OR CASUALTY . . . . . . . . . . . . . . . . . -22-
11.1 CONDEMNATION . . . . . . . . . . . . . . . . . . -22-
11.2 CASUALTY . . . . . . . . . . . . . . . . . . . . -23-
12. GENERAL PROVISIONS . . . . . . . . . . . . . . . . . . . . -23-
12.1 ASSIGNMENT . . . . . . . . . . . . . . . . . . . -23-
12.2 ATTORNEYS' FEES AND/OR COSTS . . . . . . . . . . -23-
12.3 NOTICES AND APPROVALS . . . . . . . . . . . . . . -23-
12.4 CONTROLLING LAW . . . . . . . . . . . . . . . . . -25-
12.5 TITLES AND CAPTIONS . . . . . . . . . . . . . . . -25-
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12.6 INTERPRETATION . . . . . . . . . . . . . . . . . -25-
12.7 NO WAIVER . . . . . . . . . . . . . . . . . . . . -25-
12.8 MODIFICATIONS . . . . . . . . . . . . . . . . . . -25-
12.9 SEVERABILITY . . . . . . . . . . . . . . . . . . -25-
12.10 INTEGRATION OF PRIOR AGREEMENTS AND
UNDERSTANDINGS. . . . . . . . . . . . . . . . . . -25-
12.11 NOT AN OFFER . . . . . . . . . . . . . . . . . . -25-
12.12 POSSESSION OF PROPERTY . . . . . . . . . . . . . -25-
12.13 COUNTERPARTS . . . . . . . . . . . . . . . . . . -26-
12.14 EXHIBITS INCORPORATED BY REFERENCE . . . . . . . -26-
12.15 COMPUTATION OF TIME . . . . . . . . . . . . . . . -26-
12.16 NO OBLIGATIONS TO THIRD PARTIES . . . . . . . . . -26-
12.17 COOPERATION . . . . . . . . . . . . . . . . . . . -26-
12.18 CONFIDENTIALITY . . . . . . . . . . . . . . . . . -26-
12.19 INDEMNITIES . . . . . . . . . . . . . . . . . . . -26-
12.20 FURTHER ASSURANCES . . . . . . . . . . . . . . . -27-
12.21 NO THIRD PARTY BENEFICIARIES . . . . . . . . . . -27-
EXHIBIT "A" LAND DESCRIPTION
EXHIBIT "B" PERSONAL PROPERTY DESCRIPTION
EXHIBIT "C" PERMITS, WARRANTIES AND INTANGIBLES
EXHIBIT "D" LEASES
EXHIBIT "E" ESTOPPEL CERTIFICATE
EXHIBIT "F" GRANT DEED
EXHIBIT "G" ASSIGNMENT OF LEASES
EXHIBIT "H" BILL OF SALE
EXHIBIT "I" GENERAL ASSIGNMENT
EXHIBIT "J" PRE-APPROVED POST SEPTEMBER 11, 1995 LEASES
EXHIBIT "J-1" PRE-APPROVED POST SEPTEMBER 11, 1995 LEASING COSTS
EXHIBIT "K" LEASE SUMMARY
EXHIBIT "K-1" LEASE DEFAULTS
EXHIBIT "L" PROPERTY CONTRACTS
EXHIBIT "M" ASSET MANAGERS
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PURCHASE AGREEMENT FOR REAL PROPERTY
AND ESCROW INSTRUCTIONS
This Purchase Agreement for Real Property and Escrow Instructions
("Agreement"), effective as of November 16, 1995 ("Effective Date"), is
between EQK REALTY INVESTORS I, a Massachusetts business trust, as "Seller",
and K/B REALTY ADVISORS, a Delaware Corporation, as "Buyer".
1. PURCHASE OF PROPERTY. Seller agrees to sell to Buyer and Buyer
agrees to purchase from Seller, the Property (as described in Paragraph 2.1),
in consideration for the payment of the Purchase Price (as described in
Paragraph 2.4).
2. BASIC TERMS AND DEFINITIONS.
2.1 PROPERTY.
2.1.1 Real Property. The land underlying that
project commonly referred to as Castleton Park, Indianapolis, Indiana, as more
particularly described on the attached Exhibit "A" (the "Land") together with
all improvements located on, above or below the surface of the Land,
including, without limitation, forty-four (44) separate office and
office/warehouse buildings (collectively, "Buildings"), and all other
structures and facilities located on the Land, (the Buildings and all other
structures and facilities, collectively, the "Improvements") together with all
rights, privileges, easements, rights of way, appurtenances benefiting the Land
and/or the Improvements, used or connected with the beneficial use or
enjoyment of the Land and/or the Improvements (the Land, the Improvements, and
all such rights, privileges, easements, rights of way and appurtenances are
collectively, the "Real Property").
2.1.2 Personal Property. All furniture, fixtures,
equipment, appliances, and personal property owned by Seller and now located
in or on the Real Property and used in connection with the management and
operation of the Real Property, including, without limitation, those items
described on the attached Exhibit "B" (collectively, the "Personal Property").
2.1.3 Permits, Warranties, and Intangibles. All
benefits (but not obligations accruing or applicable to the period prior to
the Closing) under all licenses, permits, approvals, blueprints, plans,
specifications, maps, drawings and guaranties and all warranties made by any
contractors, subcontractors, vendors or suppliers, regarding their performance
or the quality of materials supplied in connection with the construction of or
operation of all or any of the Real Property or pertaining to the Real
Property or the Personal Property, including, without limitation, those
described on the attached Exhibit "C" and all intangible rights and property,
including, without limitation, all rights of ownership and use of the name
"Castleton Park" and rights to use of any phone numbers of Seller at the
Property (collectively, the "Permits, Warranties, and Intangibles").
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2.1.4 Leasehold Rights. All of Seller's interest in
the Leases described on the attached Exhibit "D" ("Leases"), and any other
leasehold rights existing for the Property and all amendments and
modifications to the Leases for the Real Property and all guaranties ensuring
performance of the obligations under the Leases, together with all prepaid
rent, damage, escrow and security deposits paid by the lessees under the
Leases as of Close of Escrow (collectively, the "Leasehold Rights").
The Real Property, Personal Property, Permits, Warranties, and Intangibles and
Leasehold Rights are collectively referred to in this Agreement as the
"Property".
2.2 BUYER. K/B Realty Advisors, Inc., its successors and
assigns, ("Buyer"), whose address is c/o Koll - Investment Management
Division, Sixty State Street, Boston, Massachusetts 02109; Attn: Charles B.
Lindwall; Telephone: (617) 722-8282; Facsimile: (617) 371-1411; with a copy to
Jim Chiboucas, 4343 Von Karman Avenue, Newport Beach, California 92660;
Telephone: (714) 833-3030, ext. 398; Facsimile: (714) 852-9472.
2.3 SELLER. EQK Realty Investors I ("Seller") whose
address is c/o Compass Retail, Inc., 5775 Peachtree Dunwoody Road, Suite
200-D, Atlanta, Georgia 30342; Attn: Linda Schear; Telephone: (404) 303-2550;
Facsimile: (404) 303-6124; with a copy to Gary Werkheiser, Compass Retail,
Inc., 5775 Peachtree Dunwoody Road, Suite 200-D, Atlanta, Georgia 30342;
Telephone: (404) 303-2560; Facsimile: (404) 303-6117.
2.4 PURCHASE PRICE. Forty Million, One Hundred
Seventy-Five Thousand Dollars ($40,175,000) ("Purchase Price"), subject to the
prorations and adjustments provided for under this Agreement.
2.5 TERMS OF PURCHASE.
2.5.1 The Deposit. Within one (1) business day
after the full execution of this Agreement by all parties, a deposit of Four
Hundred Thousand Dollars ($400,000) ("Deposit") shall be delivered to Escrow
Holder by Buyer. Escrow Holder shall place the Deposit in a federally insured,
interest-bearing account and all earned interest shall accrue to the Buyer's
benefit, unless Seller is entitled to the Deposit as liquidated damages under
Paragraph 6.5. For purposes of this Agreement, any accrued interest shall be
deemed part of the Deposit.
2.5.2 Cash at Closing. The Purchase Price less the
Deposit (and subject to any prorations and adjustments provided under this
Agreement) shall be delivered to Escrow Holder as provided in Paragraph 5.3.
2.5.3 Election to Return Deposit. Buyer may elect,
by delivery of written notice to Seller and Escrow Holder on or before the
Closing, to deliver the entire Purchase Price (subject to any prorations and
adjustments provided under this Purchase Agreement) to Escrow Holder at the
Closing and have Escrow Holder return the Deposit to Buyer (or K/B Realty
Advisors if this Agreement has been assigned) upon such delivery of the
Purchase Price to Escrow Holder. Seller agrees to execute any escrow
instructions reasonably required by Escrow
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Holder to cause the return of the Deposit to Buyer (or K/B Realty Advisors)
pursuant to the terms of this Paragraph 2.5.3.
2.6 OUTSIDE DATE. The last day the Close of Escrow may
occur shall be December 8, 1995 ("Outside Date).
2.7 FEASIBILITY PERIOD. The "Feasibility Period" shall
end at 5:00 P.M. (PST) on November 20, 1995.
2.8 ESCROW. Escrow number _____ ("Escrow") with the
Escrow Holder, which shall be opened as provided in Paragraph 7.2.
2.9 ESCROW HOLDER. Chicago Title Insurance Company
("Escrow Holder"), whose address is 101 West Ohio Street, Suite 300,
Indianapolis, Indiana 46204; Escrow Officer: Alan Kolb; Telephone: (317)
684-3800; Facsimile: (317) 683-3843.
2.10 TITLE COMPANY. Chicago Title Company ("Title
Company"), whose address is 101 West Ohio Street, Suite 300, Indianapolis,
Indiana 46204; Title Coordinator: Alan Kolb; Telephone: (317) 684-3800;
Facsimile: (317) 684-3843.
3. CONDITIONS PRECEDENT TO BUYER'S PERFORMANCE. Buyer's
obligation to purchase the Property is subject to the satisfaction or written
waiver of all the conditions described below (which are for Buyer's benefit)
within the time periods specified, or if no time period is specified, by the
Closing Date.
3.1 TITLE CONDITION.
3.1.1 Title Document. Buyer shall obtain the
following items:
(a) A current ALTA Preliminary Report
issued by the Title Company ("Preliminary Report");
(b) Legible copies of all documents,
whether recorded or unrecorded, referred to in the Preliminary Report; and
(c) Seller's most recent ALTA Survey of
the Property (which Seller shall provide to Buyer) prepared by a licensed
engineer or surveyor (the survey, as it may be updated by Buyer at Buyer's
initial cost and expense will be referred to as the "Survey");
(Items (a) through (c), are collectively referred to as the "Title Documents").
Buyer has delivered written notice to Seller and Escrow Holder ("Notice of
Title Defect") specifying (in Buyer's sole and absolute discretion) each
matter shown in the Title Documents which is disapproved by Buyer (each a
"Disapproved Title Matter").
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3.1.2 Seller's Title Notice. By no later than 5:00
P.M. (PST) on November 28,1995 ("Seller's Title Notice Period"), Seller may
elect (i) to eliminate or cure to Buyer's satisfaction (in Buyer's sole and
absolute discretion) each Disapproved Title Matter or (ii) not do anything
regarding the Disapproved Title Matter. Prior to the expiration of Seller's
Title Notice Period, Seller shall deliver to Buyer written notice ("Seller's
Title Notice") of those Disapproved Title Matters, if any, which Seller
covenants and agrees to either eliminate from the Title Policy as exceptions
to the Title Policy or cure to Buyer's satisfaction by the Closing Date. If
Seller fails to deliver any written notice within Seller's Title Notice Period,
Seller shall be deemed to have elected not to do anything regarding the
Disapproved Title Matters. If Seller does not elect in Seller's Title Notice to
eliminate or cure any Disapproved Title Matter (or fails to deliver Seller's
Title Notice within Seller's Title Notice Period), or if Buyer disapproves
Seller's Title Notice (in its sole and absolute discretion), then Buyer shall
have the right, by written notice delivered to Seller and Escrow Holder on or
before 5:00 P.M. (PST) on December 4, 1995 to either (i) waive its prior
disapproval, in which event, the Disapproved Title Matters shall be deemed
approved, or (ii) terminate this Agreement and the Escrow, in which case the
Deposit shall be returned to Buyer as provided in paragraph 6.3. If Buyer fails
to deliver any written notice on or before 5:00 P.M. (PST) on December 4, 1995,
Buyer shall be deemed to have elected to terminate this Agreement pursuant to
(ii) above.
3.1.3 Disapproval of Liens and Monetary
Encumbrances. Notwithstanding anything to the contrary contained in this
Agreement, Buyer disapproves all liens and monetary encumbrances (other than
liens for non-delinquent real property taxes). Seller covenants to cause all
these liens to be eliminated at Seller's sole cost and expense (including all
pre-payment penalties and charges) prior to or concurrently with the Close of
Escrow.
3.2 GENERAL FEASIBILITY.
3.2.1 Buyer's Feasibility Studies. Buyer shall have
until the expiration of the Feasibility Period to confirm in Buyer's sole and
absolute discretion whether Buyer desires to proceed with the purchase of the
Property and whether the Property is acceptable to Buyer. Buyer's feasibility
studies may include, but shall not be limited to, each of the following items:
(a) The economics of and return on
investment for purchasing the Property;
(b) The physical condition of the
Property;
(c) The geological soils and seismic
conditions of the Property;
(d) All conditions imposed by
governmental bodies having jurisdiction over the Property;
(e) The availability of all necessary
utilities, sewers and storm drains for the Property;
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(f) The compliance of the Property with
all applicable federal, state, city, and local laws, rules, regulations and
ordinances, including, without limitation, those pertaining to zoning and land
use;
(g) The environmental condition of the
Property;
(h) The availability of access to the
Property;
(i) Property's satisfaction of
investment criteria; and
(j) Any other items which Buyer believes
are pertinent to its determination of whether to purchase the Property.
3.2.2 Property Documents. To assist Buyer's
feasibility determination, Seller, at its sole cost and expense, has delivered
to Buyer at its offices listed in Paragraph 2.2, legible, true, complete and
correct copies of the following documents (all collectively, the "Property
Documents"):
(a) All Leases that will be in effect at
Closing (and associated side letters, guarantees, tenant correspondence, other
correspondence, and instruments) together with term sheets, letters of intent,
or lease drafts for any pending new leases, amendments, modifications,
renewals, extensions, or expansions;
(b) All vendor, capital and other
contracts and agreements affecting the Property, including, without
limitation, those pertaining to service, labor, construction, management, and
maintenance;
(c) All soils and environmental
assessments, reports, notices, or correspondence pertaining to or regarding
the Property;
(d) All engineering reports or surveys,
notices, or correspondence relating to the Property structures, building
systems, ADA compliance, or site conditions;
(e) All operating reports from January,
1994 and through the Effective Date, including operating expenses, revenues,
receivable reports and variance analysis-descriptions regarding or pertaining
to the Property;
(f) Current rent roll for the Property
as of the Effective Date;
(g) Copies of the property tax bills for
the current year and prior two (2) years for the Property;
(h) All licenses and permits (including
certificates of occupancy), blueprints, surveys, drawings, specifications,
plans, maps (tentative and final) and currently pending applications to
governmental entities, regarding the Property;
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(i) Budget proposals submitted by
Seller's management company for the 1995 and 1996 years pertaining to the
Property;
(j) Any other contracts or obligations
that Seller will ask Buyer to assume as of the Closing
(k) All correspondence between the
Seller's asset manager and the property management company for the previous
twelve months relating to the operation, maintenance or improvement of the
Property;
(l) A summary of any litigation
affecting the Property, and if requested by Buyer, copies of any documents
regarding litigation, liens or threatened claims pertaining to the Property;
and
(m) Any notices or warnings that the
Property is or may become in violation of any governmental orders, rules,
laws, regulations, restrictions, or otherwise.
The originals of the Property Documents shall become the property of Buyer upon
Close of Escrow.
3.2.3 Interviews. During the Feasibility Period, Seller
shall make available for interview by Buyer (at the Property or at Seller's
office) regarding Property matters, Seller's personnel, agents and property
managers.
3.2.4 Buyer's Feasibility Determination. If within the
Feasibility Period, Buyer determines in its sole and absolute discretion, that
it is either feasible or not feasible for Buyer to purchase the Property,
Buyer shall notify Seller and Escrow Holder in writing (the "Feasibility
Notice" or "Non-Feasibility Notice"). If Buyer fails to deliver to Seller and
Escrow Holder the Feasibility Notice or Non-Feasibility Notice on or before
the last day of the Feasibility Period, this feasibility contingency shall be
conclusively deemed not satisfied. If Seller and Escrow Holder receive the
Non-Feasibility Notice on or before the expiration of the Feasibility Period
or this contingency is deemed not satisfied, Escrow shall terminate and Escrow
Holder shall immediately return the Deposit to Buyer pursuant to Paragraph 6.3.
3.3 ESTOPPEL CERTIFICATE. Buyer shall have received by no later
than November 29, 1995, a fully executed Estoppel Certificate in the form of
Exhibit "E" from each and all of the following: (i) Lease tenants occupying in
the aggregate at least 80% of the rentable square footage in the Buildings,
(ii) 80% of the number of Lease tenants leasing premises in the Buildings, and
(iii) all Lease tenants for each and every Lease which is for more than 5,000
square feet of any Building, containing information that is consistent with and
confirms (x) the terms of their respective Leases, (y) the information
contained in the rent roll dated October 1, 1995, and (z) the information
contained in the accounts receivable aging report dated October 1, 1995.
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3.4 ISSUANCE OF TITLE POLICY. At the Closing, the Title Company
shall have committed to issue the Title Policy upon Close of Escrow, as
described in Paragraph 5.4.
3.5 VALIDITY OF REPRESENTATIONS AND WARRANTIES. All
representations and warranties by Seller in this Agreement shall be true and
correct in all material respects as of the Close of Escrow.
3.6 PERFORMANCE OF COVENANTS. Seller shall have duly performed
all covenants and agreements to be performed by Seller under this Agreement.
3.7 NO MATERIAL CHANGES. At the Closing Date, there shall have
been no material adverse changes since the Effective Date in the physical,
financial, tenant or title condition of the Property. In addition, Buyer shall
have the right to terminate this Agreement (and it shall be deemed a failure
of this condition precedent to Buyer's performance) upon the occurrence of any
of the following events by a tenant under any Lease for premises exceeding
5,000 square feet: (i) the making by such tenant of any general arrangement or
assignment for the benefit of creditors, (ii) such tenant becomes a "debtor"
as defined in 11 U.S.C. Section 101 or any successor statute thereto, (iii)
the appointment of a trustee or receiver in possession of any of such tenant's
assets, (iv) the attachment, execution or other judicial seizure of any of such
tenant's assets, (v) any announcement of any material change in the financial
condition of such tenant.
3.8 DELIVERY OF DOCUMENTS. Seller shall have signed, acknowledged
and timely delivered all monies, documents and instruments to Escrow Holder as
required by Paragraph 5.2 below.
3.9 BLUE LUSTRE HOME CARE PRODUCT, INC. AGREEMENT.
3.9.1 Agreement. Buyer and Seller shall have agreed upon
and signed a written escrow agreement pursuant to terms and conditions
acceptable to both Buyer and Seller (in their respective sole and absolute
discretions) which provides among other terms and conditions that:
(a) A separate escrow shall be established with
Escrow Holder (the "Blue Lustre Escrow") in which Seller shall deposit at
Closing from Seller's proceeds from the sale of the Property ("Seller's
Closing Proceeds") an amount equal to all rent, additional rent and other
payment obligations for which Blue Lustre Home Care Product, Inc. ("Blue
Lustre") can potentially be obligated to pay pursuant to the terms of its
Lease through the expiration of the term of its Lease ("Lease Obligations").
(b) Upon Buyer's written notice that any Lease
Obligation has not been satisfied, Escrow Holder shall immediately release to
Buyer the amount of the unsatisfied Lease Obligation.
(c) Upon the happening of both of the following,
any remaining funds in the Blue Lustre Escrow would be returned to Seller: (i)
Blue Lustre's satisfaction of
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all of its Lease Obligations through the expiration of the term of its Lease
and (ii) passage of a sufficient period of time and the occurrence of the
necessary events such that the bankruptcy trustee or any other creditor or
party could not seek recovery from Buyer for receipt of any payment to Buyer
from Blue Lustre.
3.9.2 Escrow Funding. Seller shall have provided Escrow
Holder with irrevocable and unconditional written escrow instructions to
deposit at Closing in the Blue Lustre Escrow from Seller's Closing Proceeds an
amount equal to all of Blue Lustre's Lease Obligations as described in
Paragraph 3.9.1 above.
3.10 LEASE WORK AND RESERVE AGREEMENT.
3.10.1 Agreement. Buyer and Seller shall have agreed upon
and signed a written agreement ("Lease Work And Reserve Agreement") pursuant
to terms and conditions acceptable to both Buyer and Seller (in their
respective sole and absolute discretions) which provides among other terms and
conditions that:
(a) Certain described plans, terms, conditions
and other Business Terms (as defined in Paragraph 10.2.1) for the tenant
improvement work for prospective new tenants Biosound ("Biosound") and Sprint
Telecommunications Venture ("Sprint") are acceptable to Buyer and Seller.
(b) Buyer shall be responsible for satisfying
Biosound's tenant allowance under the proposed Biosound Lease, not to exceed
$341,112, which is intended to cover the cost of any and all leasehold
improvement work and commissions for the Biosound Lease. Seller shall be
responsible for satisfying all leasing costs (leasehold improvement or
otherwise) and commissions arising from the Biosound Lease to the extent they
exceed $341,112.
(c) Buyer shall be responsible for satisfying
Sprint's tenant allowance under the proposed Sprint Lease, not to exceed
$248,698, which is intended to cover the cost of any and all leasehold
improvement work and commissions (other than the below described Sprint
Landlord Work) for the Sprint Lease. Seller shall be responsible for satisfying
all leasing costs (leasehold improvement or otherwise, except for the $75,000
of Sprint Landlord Work for which Buyer is responsible) and commissions
arising from the Sprint Lease to the extent they exceed $248,698. In addition,
there is certain work to be performed by the landlord under the proposed
Sprint Lease ("Sprint Landlord Work"), the cost of which is estimated to be
$120,000. Buyer shall be responsible for paying the first $75,000 of costs for
the Sprint Landlord Work, and Seller shall be responsible for all amounts
exceeding $75,000.
(d) Certain described terms and conditions are
acceptable to Buyer for a written contract to be entered into by Seller and
assumed by Buyer for Castleway Management, Inc's performance of the lease
improvement work for the Biosound Lease and Sprint Lease and for the Sprint
Landlord Work.
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(e) Buyer has approved certain described plans,
terms, conditions, Business Terms (as defined in Paragraph 10.2.1), Amendment
Terms (as defined in Paragraph 10.2.2), lease improvement costs, commissions,
and other costs, expenses and liabilities (collectively, "Lease Obligations"),
applicable to, or incurred or to be incurred, with regard to new Leases or
potential leases being negotiated or in the process of being signed. Buyer has
approved certain described Leasing Obligations applicable to, or incurred or to
be incurred, with regard to any modifications, amendments, extensions or
expansions of existing Leases or new Leases. Buyer shall be responsible for
satisfying certain described maximum amounts of Leasing Obligations and Seller
shall be responsible for satisfying Leasing Obligations to the extent they
exceed such described maximum amounts.
(f) A separate escrow shall be established with
Escrow Holder ("Reserve Escrow") in which Seller will have deposited at
Closing from Seller's Closing Proceeds, a mutually agreed upon amount
("Reserve Amount") sufficient to satisfy Seller's post-Closing obligations and
potential liabilities under the Purchase Agreement and the Lease Work And
Reserve Agreement, including, without limitation, any obligations or
liabilities arising from any adjustments to prorations, breach of any
representation or warranty, the Biosound Lease, the Sprint Lease, the Leasing
Obligations, or any other lease improvement costs or leasing commissions to
the extent they exceed amounts approved by Buyer. The Agreement shall also
include the terms and conditions pursuant to which Buyer may receive
distributions from the Reserve Escrow and pursuant to which any remaining
funds in the Reserve Escrow would be returned to Seller.
3.10.2 Escrow Funding. Seller shall have provided Escrow
Holder with irrevocable and unconditional written escrow instructions to
deposit at Closing the Reserve Amount from Seller's Closing Proceeds.
3.11 SCOPE OF TENANT IMPROVEMENTS. Buyer shall have
received a binding certification (in a form reasonably acceptable to Buyer)
signed by those tenants listed on Exhibit "J-1" for which there remain
unsatisfied leasing costs and commissions certifying the scope of the
leasehold improvements to be performed.
4. CONDITIONS PRECEDENT TO SELLER'S PERFORMANCE. Seller's
obligation to sell the Property is subject to the satisfaction or written
waiver of all conditions set forth below (which are for Seller's benefit)
within the time periods specified, or if no time period is specified, by the
Closing Date.
4.1 PERFORMANCE OF COVENANTS. Buyer shall have duly
performed all covenants and agreements to be performed by Buyer under this
Agreement.
4.2 DELIVERY OF PAYMENT AND DOCUMENTS. Buyer shall have
signed, acknowledged and timely delivered all monies, documents and instruments
to Escrow Holder as required by this Agreement, including, but not limited to,
those required by Paragraphs 2.5.1, 2.5.2 and 5.3 below and Escrow Holder
shall have delivered all documents and monies required to be delivered to
Seller.
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4.3 VALIDITY OF REPRESENTATIONS AND WARRANTIES. All
representations and warranties by Buyer in this Agreement shall be true and
correct in all material respects as of Close of Escrow.
5. CLOSING.
5.1 THE CLOSING.
(a) Provided that the conditions set forth in
Paragraphs 3 and 4 have been satisfied or Buyer and Seller have waived same in
writing, the Closing shall occur at the offices of the Escrow Holder, by no
later than 4:00 P.M. (PST) on the Closing Date, or at such other time and
place as Buyer and Seller shall mutually designate.
(b) The terms "Close of Escrow", "Closing Date"
and/or "Closing" are used in this Agreement to mean the time the Grant Deed
(as defined in Paragraph 5.2(a)) is recorded with the Recorder of Marion
County, Indiana.
5.2 SELLER'S CLOSING OBLIGATIONS. On or before 12:00 P.M.
(PST) on the last business day immediately before the Closing Date, Seller
shall deliver to Escrow Holder:
(a) A Grant Deed conveying fee title to the Real
Property and Improvements to Buyer, properly signed by Seller and
acknowledged, in recordable form, subject to only those matters approved by
Buyer pursuant to Paragraph 3, and in the form attached as Exhibit "F" ("Grant
Deed");
(b) An Assignment of Leases conveying the
Leasehold Rights to Buyer duly signed by Seller, in the form attached as
Exhibit "G" ("Assignment of Leases");
(c) A bill of sale, signed by Seller, in the form
attached as Exhibit "H", conveying all of Seller's right, title and interest
in and to the Personal Property to Buyer ("Bill of Sale").
(d) A general assignment, signed by Seller, in
the form attached as Exhibit "I", conveying all of Seller's right, title and
interest in and to the Permits, Warranties, and Intangibles to Buyer ("General
Assignment");
(e) A certificate of Seller in the form required
of an entity transferor as set forth in Section 1.1445- 2(b)(iii) of the
Regulations under Section 1445 of the Internal Revenue Code of 1986 and any
state withholding exemption certificate, both signed by Seller;
(f) Notices to all lessees under the Leases,
signed by Seller, in a form mutually acceptable to Buyer and Seller;
(g) Any additional funds, documents and/or
instruments (signed by Seller and acknowledged, if appropriate) as may be
necessary to comply with this Agreement, including, without limitation, a
certified copy of all resolutions, written authorizations, trust
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certificates and other documentation, adopted by the Seller's entities,
evidencing the authorization of Seller for the sale of the Property;
(h) All original Property Documents;
(i) A Disclosure of Sales Information, signed by
Seller;
(j) Affidavit that the Indiana Responsible
Property Transfer laws are not applicable, signed by Seller;
(k) Vendors Affidavit as customarily delivered at
closings, using the Indianapolis Bar Association form, signed by Seller;
(l) The Proration Statement (mutually agreed upon
with Buyer), signed by Seller; and
(m) If applicable, withholding exemption
certificate(s) (or other similar documentation necessary to relieve Buyer of
any liability for failing to withhold funds) from the applicable governmental
entities.
5.3 BUYER'S CLOSING OBLIGATIONS. On or before 12:00 noon
(PST) on the Closing Date, Buyer shall deliver to Escrow Holder:
(a) Cash equal to that amount provided for in
Paragraph 2.5.2. The cash must be by direct deposit or by wire transfer of
funds actually made in Escrow Holder's depository bank account by 12:00 noon
(PST) on the Closing Date;
(b) The Assignment of Leases, signed by Buyer and
acknowledged;
(c) Disclosure of Sales Information, signed by
Buyer;
(d) The proration statement (mutually agreed upon
with Seller), signed by Buyer; and
(e) Any additional funds and/or instruments
(signed by Buyer and acknowledged, if appropriate) as may be necessary to
comply with this Agreement.
5.4 TITLE POLICY. Title shall be evidenced by the
issuance by Chicago Title Company in its capacity as title insurer of its ALTA
Extended Coverage Owner's Policy of Title Insurance (with all endorsements
requested by Buyer) in the amount of the Purchase Price showing title to the
Real Property vested in Buyer (or its assignee) subject only to those
exceptions and matters approved by Buyer in writing pursuant to Paragraph 3.1
("Title Policy"). Upon Chicago Title's issuance of a commitment to issue the
above-referenced Title Policy, the Title Policy shall be attached to this
Agreement, the issuance of which shall be a condition precedent to Buyer's
obligation to Close. In the event Buyer requests "gap coverage" Seller
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shall execute and deliver to Chicago Title Company the gap undertaking
requested by Chicago Title Company.
6. TERMINATION OF THIS AGREEMENT.
6.1 FAILURE TO CLOSE BY OUTSIDE DATE. If Escrow fails to
close on the Outside Date, this Agreement and Escrow shall automatically
terminate and cancel without further action by Escrow Holder or any party and
notwithstanding any provision contained in Escrow Holder's general provisions.
6.2 FAILURE OF A CONDITION. Except in those instances
where Escrow automatically terminates under the terms of this Agreement, if
any condition is not satisfied or waived within the time period and in the
manner set forth in this Agreement, then the party for whose benefit the
condition exists (as provided in Paragraphs 3 and 4 of this Agreement) may
terminate this Agreement by delivering written notice to the other party and to
Escrow Holder after the end of the applicable time period.
6.3 CONSEQUENCES OF TERMINATION. If this Agreement
terminates (or is properly terminated by either party) as specifically
provided by its terms, then each of the following shall occur: Escrow shall be
deemed automatically cancelled regardless of whether cancellation instructions
are signed; and, except as provided to the contrary in Paragraph 6.5
(concerning Seller's right to retain the Deposit as liquidated damages), Escrow
Holder shall return all funds (including, without limitation, the Deposit to
Buyer) and documents then held in Escrow to the party depositing the same, and
neither party shall have any claim against the other by reason of this
Agreement (other than as specifically set forth below or as provided by law
for breach of this Agreement, subject to Paragraph 6.5). If Seller breaches
this Agreement, Buyer shall be permitted to seek all of its legal and
equitable remedies, including, without limitation, specific performance.
6.4 ESCROW CANCELLATION AND TITLE COMPANY CHARGES. If
Escrow fails to close because of either party's default, the defaulting party
shall be liable for all Escrow cancellation and Title Company charges. If
Escrow fails to close for any other reason, Buyer and Seller shall each pay
one-half (1/2) of any Escrow cancellation and Title Company charges.
6.5 LIQUIDATED DAMAGES. IF BUYER FAILS TO PURCHASE THE
PROPERTY WHEN IT IS OBLIGATED TO DO SO UNDER THE TERMS OF THIS AGREEMENT,
SELLER SHALL BE RELEASED FROM ALL OF ITS OBLIGATIONS UNDER THIS AGREEMENT,
ESCROW HOLDER SHALL IMMEDIATELY DELIVER THE DEPOSIT TO SELLER, AND SELLER
SHALL BE ENTITLED TO RETAIN THE DEPOSIT AS "LIQUIDATED DAMAGES." BUYER AND
SELLER AGREE THAT BASED UPON THE CIRCUMSTANCES NOW EXISTING, KNOWN AND
UNKNOWN, IT WOULD BE IMPRACTICAL OR EXTREMELY DIFFICULT TO ESTABLISH SELLER'S
DAMAGES BY REASON OF BUYER'S DEFAULT. ACCORDINGLY, BUYER AND SELLER AGREE
THAT IN THE EVENT OF DEFAULT BY BUYER UNDER THIS AGREEMENT, IT WOULD BE
REASONABLE AT SUCH TIME TO AWARD SELLER THE DEPOSIT AS
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LIQUIDATED DAMAGES. IN CONSIDERATION OF THE PAYMENT OF THE LIQUIDATED DAMAGES.
SELLER WILL BE DEEMED TO HAVE WAIVED ALL OF ITS CLAIMS AGAINST BUYER FOR
DAMAGES OR RELIEF AT LAW OR IN EQUITY. CONSEQUENTLY, THE LIQUIDATED DAMAGES
SHALL BE SELLER'S SOLE AND EXCLUSIVE REMEDY IN LIEU OF ANY OTHER RELIEF, RIGHT
OR REMEDY, AT LAW AND EQUITY, TO WHICH SELLER MIGHT OTHERWISE BE ENTITLED BY
REASON OF BUYER'S DEFAULT, INCLUDING, WITHOUT LIMITATION, THE RIGHT OF
SPECIFIC PERFORMANCE.
----------------- ---------------
SELLER'S INITIALS BUYER'S INITIAL
7. GENERAL ESCROW PROVISIONS.
7.1 ESCROW INSTRUCTIONS. This Agreement when signed by
Buyer and Seller shall also constitute Escrow Instructions to Escrow Holder.
7.2 OPENING OF ESCROW. When this Agreement, fully signed,
or in signed counterparts, is delivered to Escrow Holder, Escrow shall be
deemed open ("Opening of Escrow"), and Escrow Holder shall immediately notify
Buyer and Seller by telephone and in writing of the date of Opening of Escrow.
7.3 GENERAL PROVISIONS. Notwithstanding anything to the
contrary in this Agreement, the General Provisions of Escrow Holder, if any,
which are later signed by the parties, are incorporated by reference to the
extent they are not inconsistent with the provisions of this Agreement. If
there is any inconsistency between the provisions of those General Provisions
and any of the provisions of this Agreement, the provisions of this Agreement
shall control. If any requirements relating to the duties or obligations of the
Escrow Holder are unacceptable to the Escrow Holder, or if the Escrow Holder
requires additional instructions, the parties agree to make any deletions,
substitutions and additions as counsel for Buyer and Seller shall mutually
approve and which do not materially alter the terms of this Agreement. Any
supplemental instructions shall be signed only as an accommodation to Escrow
Holder and shall not be deemed to modify or amend the rights of Buyer and
Seller, as between Buyer and Seller, unless those supplemental instructions
expressly so provide.
7.4 PRORATIONS.
7.4.1 Standard Prorations. Subject to Paragraphs
7.4.2 through 7.4.7, all non-delinquent rents (i.e. rents or additional rents
which are not thirty (30) days or more past due), expenses, expense
recoveries, utility charges (other than those paid by tenants directly to the
utility vendors pursuant to the terms of the Leases), common area charges, real
property taxes, assessments, maintenance charges, and other revenues and costs
for the Property shall be prorated as of the Close of Escrow based on the most
current statements and information provided to Escrow Holder. For purposes of
these prorations it will be assumed that Seller has received all rents for the
month in which the Closing occurs from all tenants under the Leases
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and Buyer shall receive a proportionate credit at Closing based on the number
of days of such month Buyer owns the Property.
7.4.2 Additional Rent Reconciliation. To the extent
that any additional rent (including, without limitation, estimated payments
for operating expenses and/or real estate taxes) (collectively, "Expenses") is
paid by tenants to landlord under the Leases based on an estimated payment
basis (monthly, quarterly, or otherwise) for which a future reconciliation of
actual Expenses to estimated payments is required to be performed at the end of
a reconciliation period, Buyer and Seller shall make an adjustment at the
Closing for the applicable reconciliation period (or periods, if the Leases do
not have a common reconciliation period) based on a comparison of the actual
Expenses to the estimated payments at the Closing. If, as of the Closing,
Seller has received additional rent payments in excess of the amount that
tenants will be required to pay, based on the actual Expenses as of the
Closing, Buyer shall receive a credit at Closing in the amount of such excess.
If, as of the Closing, Seller has received additional rent payments that are
less than the amount that tenants would be required to pay based on the actual
Expenses as of the Closing, Buyer shall deliver to Seller the amount of such
deficiency within thirty (30) days of the reconciliation pursuant to which the
tenant's payment of such deficient amounts is received by Buyer. For purposes
of the above-described calculations, it will be assumed that Seller has
received all additional rent payments for Expenses for the month in which
Closing occurs from all tenants under the Leases.
7.4.3 Receivables. Buyer shall not be required to
purchase Seller's accounts receivables and/or delinquent rents (including,
without limitation, any additional rent payments for other amounts payable by
tenants under the Leases). No proration shall be made at the Closing for these
items. However, Seller shall be permitted to collect accounts receivables
and/or delinquent rents directly from tenants after Closing to the extent such
collections do not interfere with tenants' tenancies. For a period of six (6)
months following the Closing Date, Buyer shall continue to bill existing
tenants at the Property for accounts receivable and delinquent rents
attributable to the Property for the period prior to the Closing Date. To the
extent that Buyer receives, within the first six (6) months after the Closing
Date, rents applicable to a period prior to the Closing, Buyer shall promptly
pay such rents to Seller after first deducting any sums due Buyer from such
tenants for rent or other charges accruing after the Closing Date. After
expiration of such six (6) month period, all amounts (accounts receivables,
rents, or otherwise) received by Buyer shall belong to Buyer regardless of the
time period to which they apply.
7.4.4 Security Deposits. Buyer shall be credited at
Closing for the amount of all security deposits provided for under the Leases.
7.4.5 Leasing Costs. Buyer shall be responsible for
the amount of all costs and expenses which were incurred, or to be incurred,
in connection with all Leases executed, modified or extended by Seller after
September 11, 1995 provided that such Leases are set forth on the attached
Exhibit "J" and all such costs for which Buyer is to be responsible are set
forth on the attached Exhibit "J-1", or such Leases and costs have been
approved by Buyer pursuant to Paragraph 10.2. Seller shall remain responsible
for (or to the extent identifiable at Closing, Buyer shall receive a credit at
Closing) for the amount of all unsatisfied
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costs and expenses which were incurred, or are to be incurred, in connection
with any and all Leases executed prior to September 11, 1995 and for all
Leases and costs which are not listed on Exhibits "J" or "J-1" or which were
not approved by Buyer pursuant to Paragraph 10.2.
7.4.6 Capital Costs. Except for the Leasing Costs
set forth in Exhibit "J-1", Buyer shall be credited at Closing for all amounts
remaining unsatisfied at Closing for all capital contracts, contracts
pertaining to works of improvement or other contracts, pertaining to the
Property (regardless of when the work, services or other obligations were
performed or are to be performed).
7.4.7 Delinquent Taxes and Mechanic's Liens.
(i) Taxes. All real property taxes and
assessments, personal property taxes, and other municipal and governmental
charges and assessments imposed upon the Property, paid or payable, shall be
prorated as of the Closing Date based on Seller's and Buyer's respective
periods of ownership to which the taxes are applicable. Accordingly, Buyer
and Seller acknowledge that many, if not all of the taxes, are payable in
arrears (for example, 1994 real property taxes are paid in two installments in
1995 and 1995 real property taxes will not be payable until 1996). Since taxes
for 1995 for the Property will not be known at the Closing, Buyer and Seller
shall use one hundred fifteen percent (115%) of the last known taxes for
purposes of the proration, subject to the adjustment as provided in Paragraph
7.4.11 below. More particularly, Buyer will receive a credit at Closing of one
hundred fifteen percent (115%) of the last known taxes multiplied by a
percentage based on the proportion of calendar year 1995 (or where a different
tax year applies, that taxing year) during which Seller owned the Property.
Buyer shall also receive a credit at Closing in the amount of any delinquent
and payable taxes applicable to the Property.
(ii) Tax Appeals. As of the date of this
Agreement, Seller has engaged consultants for the purpose of protesting the
amount of taxes or the assessed valuation for certain tax periods for the
Property ("Protest Proceedings"). Any refunds or proceeds (including interest
thereon) on account of a favorable determination, after deduction of costs and
expenses incurred for such Protest Proceedings and payment of any
reimbursements owing to tenants, shall be: (i) the property of Seller to the
extent such refunds or proceeds were for taxes paid by Seller applicable to a
period prior to the Closing Date, (ii) prorated between Buyer and Seller for
taxes paid for a period during which the Closing Date occurred, and (iii) the
Property of Buyer for taxes paid by Buyer for a period after the Closing Date.
Seller shall have the obligation to refund to any tenants in good standing as
of the date of such refiled, any portion of such refund paid to it which may
be owing to such tenants, which payment shall be paid within fifteen (15) days
of delivery to Seller by Buyer of written confirmation of such tenants'
entitlement to such refunds and the addresses to which such refund amounts
should be forwarded. Buyer shall have the obligation to refund to tenants in
good standing as of the date of such refund, any portion of such refund paid
to it which may be owing to such tenants. Seller agrees to notify Buyer in
writing of any receipt of a tax refund within ten (10) business days of
receipt of such refund. To the extent either party obtains a refund, a portion
of which is owed to the other party, the receiving party shall deliver the
refund to the other party immediately upon its receipt.
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(iii) Mechanic's Liens. Buyer shall
receive a credit at Closing the amount of all mechanic's and materialman's
liens encumbering the Property at Closing.
7.4.8 Deferred Maintenance Credit. Buyer shall
receive at Closing a credit applicable to the Purchase Price in the amount of
Seven Hundred Four Thousand, Five Hundred Dollars ($704,500) as consideration
for Buyer's acceptance of the Property with existing deferred maintenance that
needs to be corrected and other maintenance requirements that are anticipated
as having to be satisfied in the near future.
7.4.9 Environmental Assessments. At Buyer's option,
either: (i) Buyer shall receive at Closing, a credit applicable to the
Purchase Price in the amount of Forty-Four Thousand Dollars ($44,000) as
payment to Buyer for its costs and resources expended for environmental
reports, assessments and review of the Property, or (ii) Seller shall direct
Escrow Holder to pay out of Seller's proceeds all environmental invoices
provided to Seller prior to the Closing Date, which payment shall not exceed
Forty-Four Thousand Dollars ($44,000) in the aggregate.
7.4.10 [Omitted].
7.4.11 Errors and Omissions. If any errors or
omissions are made regarding adjustments and prorations, the parties shall
make appropriate corrections promptly upon the discovery thereof. If any
estimations are made at the Close of Escrow regarding adjustments or
prorations, the parties shall make the appropriate corrections promptly when
accurate information becomes available. Any corrected adjustment or proration
shall be paid in cash to the appropriate party within fifteen (15) days of
agreement by the parties as to the correction or adjustment. Notwithstanding
anything to the contrary in this paragraph, any right to a correction or
adjustment shall terminate six (6) months after Close of Escrow, except for
taxes under Paragraph 7.4.7, which shall terminate nine (9) months after Close
of Escrow.
7.5 PAYMENT OF COSTS. Seller shall pay for (i) all
transfer, sales, use and other taxes, assessments and charges applicable to,
or arising from, the transfer of the Property (including, without limitation,
documentary transfer taxes), (ii) all recording fees, (iii) an AMOUNT equal to
the premium for a standard ALTA Owner's Policy ("Standard Premium") not to
exceed $35,000, (iv) one-half (1/2) of all Escrow fees and charges not to
exceed $1,000, and (v) all of Seller's costs incurred with regard to this
transaction, including, without limitation, its legal costs and costs to
provide the Property Documents and any other due diligence materials to Buyer.
Buyer shall pay (i) one-half (1/2) of the Escrow fees and charges not to exceed
$1,000, (ii) all Title Policy costs exceeding the Standard Premium, including,
without limitation, charges for endorsements, (iii) the costs for the Survey
update, and (iv) all of Buyer's costs incurred with regard to this
transaction, including, without limitation, its due diligence and legal costs.
7.6 ESCROW HOLDER AUTHORIZED TO COMPLETE BLANKS. If
necessary, Escrow Holder is authorized to insert the Closing Date in any blanks
in the Closing documents.
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7.7 RECORDATION AND DELIVERY OF DOCUMENTS. When Buyer
and Seller have satisfied their respective Closing obligations under Paragraphs
5.2 and 5.3 and each of the conditions under Paragraphs 3 and 4 and have
either been satisfied or waived in writing, Escrow Holder shall (i) first
cause the recordation of the satisfaction, reconveyances, releases and/or
other documents related to the extinguishment and/or termination of existing
mortgages with the Recorder of Marion County, Indiana, (ii) second cause the
Grant Deed (and any other conveyance documents) to be recorded with the
Recorder of Marion County, Indiana, (iii) establish and fund from Seller's
Closing Proceeds the Blue Lustre Escrow and Reserve Escrow pursuant to written
escrow agreements and/or instructions provided to Escrow Holder by Buyer and
Seller, and (iv) then deliver to Seller and to Buyer all documents and funds to
which each is entitled and which have not been previously delivered. After
recordation, the Grant Deed and all other conveyance documents and Property
Documents shall be delivered to Buyer. Immediately after recordation, Escrow
Holder shall deliver to Buyer and Seller a copy of all documents recorded
through Escrow bearing the recorder's identifying information.
8. BROKERAGE COMMISSIONS. Seller and Buyer mutually represent
and warrant that they have dealt with no broker or finder other than Olympia
Partners, Ltd. ("Broker") in connection with this Agreement and that neither
Seller nor Buyer knows of any other broker who has claimed or may have the
right to claim a commission in connection with this transaction. Buyer shall
pay the commission due Broker, pursuant to the provisions of its separate
agreement with Broker. Seller shall indemnify, defend and hold Buyer harmless
from and against any costs, claims, expenses, including, without limitation,
attorneys fees and costs arising out of any claim for commission or
compensation made by any broker or finder with regard to this Agreement based
on any representations or agreements made by Seller. Buyer shall indemnify,
defend and hold Seller harmless from and against any costs, claims, expenses,
including, without limitation, attorneys fees and costs arising out of any
claim for commission or compensation made by any broker or finder with regard
to this Agreement based on any representations or agreements made by Buyer.
The representations and obligations under this Paragraph shall survive the
Closing, or if the Closing does not occur, the termination of this Agreement.
9. REPRESENTATIONS AND WARRANTIES.
9.1 REPRESENTATIONS AND WARRANTIES OF BUYER. Buyer
represents and warrants to Seller, which representations and warranties shall
also be true as of Close of Escrow and survive the Close of Escrow, as
follows:
9.1.1 Organization; Authority. Buyer has full power
and authority to enter into and comply with the terms of this Agreement. This
Agreement has been duly and validly authorized, executed and delivered by
Buyer and no other action is requisite to the valid and binding execution.
delivery and performance of this Agreement by Buyer. This Agreement and
Buyer's performance of the obligations in this Agreement do not and will not
contravene any provision of any present judgment, order, decree, writ or
injunction, or any provision of any law or regulation currently applicable to
Buyer. Neither this Agreement nor anything provided to be done under this
Agreement violates or shall constitute or result in a default, breach, or
violation of any covenant, agreement, instrument, document or understanding for
which Buyer is bound.
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9.1.2 Binding Effect of Documents. This Agreement
and the other documents to be executed by Buyer will have been duly entered
into by Buyer and will constitute legal, valid and binding obligations of
Buyer.
9.2 STANDARD REPRESENTATIONS AND WARRANTIES OF SELLER.
Seller represents and warrants to Buyer, which representations and warranties
shall also be true as of Close of Escrow and shall survive the Close of
Escrow, as follows:
9.2.1 Organization; Authority. Seller is a
Massachusetts business trust, validly existing under the laws of the States of
Massachusetts, with full power and authority to enter into and comply with the
terms of this Agreement and do business in the State of Indiana. This
Agreement has been duly and validly authorized, executed and delivered by
Seller and no other action is requisite to the valid and binding execution,
delivery and performance of this Agreement by Seller. Seller has obtained all
consents necessary or required to transfer all Property to Buyer. This
Agreement and Seller's performance of the obligations in this Agreement do not
and will not contravene any provision of any present judgment, order, decree,
writ or injunction, or any provision of any law or regulation currently
applicable to Seller. Neither this Agreement nor anything provided to be done
under this Agreement shall constitute or result in a default, breach or
violation of any covenant, agreement, instrument, document or understanding for
which Seller is bound.
9.2.2 Binding Effect of Documents. This Agreement
and the other documents to be executed by Seller will have been duly entered
into by Seller and will constitute legal, valid and binding obligations of
Seller.
9.2.3 No Property Defaults. Seller is not in
default in respect of any of its obligations or liabilities pertaining to the
Property, nor, to the best of Seller's knowledge, is there any existing state
of facts, circumstances, conditions or events which would constitute or result
in any such default upon the giving of notice or the passage of time or both.
9.2.4 Pending Litigation or Proceedings. To the
best of Seller's knowledge, and except for personal injury claims covered by
Seller's insurance which will not affect the Property and for which Buyer will
not have any liability, Seller has not received written notice of any (i)
pending claims, suits, actions or arbitrations, or any regulatory, legal, or
other proceedings or investigations affecting the Property or Seller's rights
and obligations under this Agreement, or (ii) any contemplated condemnation,
eminent domain, or similar proceedings, for any portion of the Property.
9.2.5 Documents. To the best of Seller's
knowledge, Seller has provided to Buyer true, complete and accurate copies of
all Property Documents.
9.3 LIMITED REPRESENTATIONS AND WARRANTIES OF SELLER.
Seller represents and warrants to Buyer, which representations and warranties
shall also be true as of the Close of Escrow and shall survive the Close of
Escrow, as follows:
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9.3.1 Lease Summary. Attached as Exhibit "K" to
this Agreement is a list of all Leases in effect as of the Closing together
with a summary of the material terms of each of the Leases (collectively, "Lease
Summary"). Except as expressly identified in the Preliminary Report, to the
best of Seller's actual knowledge, there are no other Leases or agreements in
effect for the use or possession of the Property or which affect the Property
and all of the material terms of the Leases contained in the Lease Summary are
accurate and complete. However, to the extent that the existence or material
terms of any of the Leases described in the Lease Summary are confirmed by an
estoppel certificate enforceable against the tenant providing such estoppel
certificate, this representation and warranty shall not apply with regard to
such Lease.
9.3.2 No Lease Defaults. Except for those potential
Lease defaults arising from the delinquent rents specifically set forth on the
attached Exhibit "K-1", to the best of Seller's actual knowledge, Lessor and
Lessee under each of the Leases is not in default or breach under any of the
terms of their respective Leases nor is there any event which has occurred,
with which the passage of time, notice, or both could constitute a default by
Lessor or the Lessee under their respective Leases.
9.3.3 Violation of Laws. To the best of Seller's
actual knowledge, other than as disclosed in writing to Buyer by Seller prior
to expiration of the Feasibility Period, the ownership, operation, use or
condition of the Property is not a potential violation of any federal, state
or local law, ordinance, or regulation with respect to the Property, including
without limitation any law, ordinance or regulation relating to the industrial
hygiene, hazardous or toxic materials (or similarly defined substances,
materials or waste) or environmental protection and, to the best of Seller's
actual knowledge, there is no proceeding or action pending or threatened by
any person or any governmental entity regarding any such violations.
9.3.4 No Other Contracts. To the best of Seller's
actual knowledge, other than as disclosed in the attached Exhibit "L", there
are not any contracts or agreements pertaining to the Property which have not
been fully satisfied including, without limitation, any capital or improvement
contracts or leasing commission agreements. The contracts listed on Exhibit
"L" are a true, accurate and complete list of all contracts and agreements
pertaining to the Property.
9.3.5 Personal Property. To the best of Seller's
actual knowledge, Exhibit "B" is a true and complete list of all Personal
Property owned or used by Seller in connection with the Property.
For purposes of this Paragraph 9.3.4. "Seller's actual knowledge"
shall mean the actual knowledge of Seller's asset managers assigned to the
Property for the twelve months immediately preceding the Closing Date which
shall include those asset managers listed on the attached Exhibit "M" which
shall be updated to add any asset managers hired for the Property between now
and the Closing Date. The representations and warranties contained in this
Paragraph 9.3 shall survive the Closing Date for one year except that to the
extent that Seller receives notice from Buyer of a breach of any
representation or warranty prior to expiration of the one year period, such
breached representation and warranty shall continue to be effective
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beyond the one year period with regard to the claims arising from the breach
which is the subject of the notice.
9.4 "AS IS." BUYER ACKNOWLEDGES AND AGREES THAT IT IS
BUYING THE PROPERTY IN ITS "AS IS" CONDITION AS OF THE EXPIRATION OF THE
FEASIBILITY PERIOD. EXCEPT FOR THE REPRESENTATIONS AND WARRANTIES PROVIDED IN
THIS AGREEMENT, SELLER IS NOT MAKING ANY REPRESENTATIONS OR WARRANTIES WITH
REGARD TO THE CONDITION OF THE PROPERTY.
10. CONDUCT DURING ESCROW PERIOD.
10.1 LICENSE TO ENTER. Until Close of Escrow or the date
on which this Agreement is terminated, Buyer and Buyer's employees and agents
shall have reasonable access to the Property to conduct any tests and
investigations, environmental, physical, structural, or otherwise. Buyer shall
give either Seller or Seller's property manager notice prior to entering the
Property which may be either in writing or by telephone. However, Buyer shall
not, without the express written approval of Seller: (i) conduct any
destructive testing or test that involves the penetration of any surface or
the removal or disassembly of any fixtures or equipment, (ii) enter into any
lease space except in the company of Seller or a representative of Seller, or
(iii) interfere with the operation of the Property or the quiet enjoyment of
any lessee. After any entry, Buyer shall immediately restore the Property to
the Property's condition before Buyer entered on the Property. If Buyer hires
any consultants to perform any tests or investigations of the Property, Buyer
shall provide Seller with copies of any reports or studies provided by such
consultants without any representation or warranty, express or implied, as to
the accuracy of the studies and reports and provided that Seller agrees in
writing to release Buyer and its consultants of any claims arising from
Seller's use of such reports and studies. Except for those matters caused by
the negligent acts or omissions of Seller, Buyer shall indemnify and hold
harmless Seller from and against all claims, losses, liabilities, damages,
expenses and costs (including, without limitation, attorneys' fees and costs)
arising from the negligent acts or omissions of Buyer or its agents in making
such inspections. Notwithstanding anything to the contrary in this Paragraph,
this indemnification shall not apply to Buyer's discovery of existing
conditions on the Property. Buyer shall maintain or cause to be maintained
either Comprehensive General Liability Insurance or Commercial General
Liability Insurance (written on an occurrence basis) to cover Buyer's
activities on the Property. Buyer shall deliver to Seller a Certificate of
Insurance evidencing compliance with this Paragraph prior to entering upon the
Property. The liability insurance policy shall have a combined single limit per
occurrence liability limit of at least $2,000,000. Buyer shall cause such
coverage to remain in effect throughout the period that it exercises its
rights of entry pursuant to this Agreement. Such insurance shall be written by
an insurance company authorized to do business in Indiana and rated not less
than B+ Class IX.
10.2 NO NEW OR MODIFIED LEASES OR CONTRACTS WITHOUT
CONSENT. Except as provided in this Paragraph 10.2, and except for storage
contracts cancelable on thirty (30) days notice, from and after the Effective
Date, Seller shall not (except as required by law), without the prior written
consent of Buyer (in its reasonable discretion),
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enter into or modify any contracts or agreements of a material nature affecting
or relating to the Property which will survive the Close of Escrow or will
otherwise affect the use or operation of the Property after the Close of
Escrow.
10.2.1 New Leases. From and after the Effective
Date, Seller shall not enter into any new lease with regard to any portion of
the Property without the prior written consent of Buyer (in its sole and
absolute discretion) of both the initial Business Terms (defined below) of the
lease and the actual Lease Document (defined below). In the event that Seller
has an opportunity to enter into a new lease for any portion of the Property
after the Effective Date, Seller shall deliver to Buyer a summary of the
proposed business terms of the lease and other related business information
(tenant financial information, estimated costs of improvements, commissions,
etc.) (collectively, "Business Terms") and Buyer shall have five (5) business
days from receipt of all of the Business Terms to provide Seller with written
approval or disapproval of the Business Terms (in its sole and absolute
discretion). Buyer's failure to provide such written approval or disapproval
to the Business Terms within such five (5) business day period shall be deemed
disapproval. When Seller and a proposed tenant have reached agreement on a
lease document pursuant to Business Terms previously approved by Buyer as
provided above, Seller shall deliver to Buyer a copy of the proposed lease
document (the "Lease Document") and Buyer shall have five (5) business days
from receipt of the Lease Document to provide Seller with written approval or
disapproval of the Lease Document (in its sole and absolute discretion).
Buyer's failure to provide such written approval or disapproval of the Lease
Document within such five (5) business day period shall be deemed disapproval.
If Buyer approves of the Business Terms and Lease Document, and Escrow closes,
then Buyer shall become responsible for the cost of the leasehold improvements
and leasing commissions associated with the approved lease to the extent
approved by Buyer. If the actual cost of the leasehold improvements or leasing
commissions exceeds the amount approved by Buyer pursuant to this Paragraph,
and such excess costs are not due to a change in the terms, conditions, or
leasehold improvements provided for under the Lease Document, or a change in
the contractor or schedule to perform the work from the contractor who
provided the bid used in the Business Terms, or a change in the materials for
the tenant improvements, Seller shall reimburse Buyer for such excess cost
within ten (10) business days after Seller's receipt of evidence of such excess
cost. If Seller must pay leasehold improvement or leasing commission costs
before the Close of Escrow, that have been approved by Buyer as provided
above, then those payments by Seller shall be credited to Seller as an
adjustment to the Purchase Price provided that Seller has delivered to Buyer
(in a form reasonably acceptable to Buyer) proof of payment and lien releases
for those amounts in which Seller is seeking such a credit at Closing.
10.2.2 Lease Amendments. From and after the
Effective Date, Seller shall not enter into an amendment of any existing lease
with regard to any portion of the Property without the prior written consent
of Buyer (in its sole and absolute discretion) of both the Amendment Terms
(defined below) and actual Amendment Document (defined below). If after the
Effective Date, Seller desires to enter into an amendment of an existing Lease
for any portion of the Property, Seller shall deliver to Buyer a summary of the
proposed amendment terms and other related information (any tenant financial
information, cost of improvements, commissions, etc.) (collectively,
"Amendment Terms") and Buyer shall have five (5) business days from receipt of
all of the Amendment Terms to provide Seller with written approval or
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disapproval of the Amendment Terms (in its sole and absolute discretion).
Buyer's failure to provide such written approval or disapproval to the
Amendment Terms within such five (5) business day period shall be deemed
disapproval. In the event Seller and a proposed tenant have agreed upon a
written amendment document pursuant to Amendment Terms previously approved by
Buyer as provided above, Seller shall deliver to Buyer a copy of the amendment
document (the "Amendment Document") and Buyer shall have five (5) business
days from receipt of the Amendment Document to provide Seller with written
approval or disapproval of the Amendment Document (in its sole and absolute
discretion). Buyer's failure to provide such written approval or disapproval
to the Amendment Document within such five (5) business day period shall be
deemed disapproval. If Buyer approves of the Amendment Document, and Escrow
closes, then Buyer shall become responsible for the cost of the leasehold
improvements and leasing commissions associated with the approved lease
amendment to the extent approved by Buyer. If the actual cost of the leasehold
improvements or leasing commissions exceeds the amount approved by Buyer
pursuant to this Paragraph, and such excess costs are not due to a change in
the terms, conditions, or leasehold improvements provided for under the
Amendment Document or a change in the contractor to perform the work from the
contractor who provided the bid used in the Amendment Terms, Seller shall
reimburse Buyer for such excess cost within ten (10) business days after
Seller's receipt of evidence of such excess cost. If Seller must pay a
leasehold improvement or leasing commission cost before the Close of Escrow,
that has been approved by Buyer as provided above, then at the Close of Escrow,
those payments by Seller shall be credited to Seller as an adjustment to the
Purchase Price provided that Seller has delivered to Buyer (in a form
reasonably acceptable to Buyer) proof of payment and lien releases for those
amounts in which Seller is seeking such a credit at Closing.
10.3 INSURANCE. All insurance policies carried by Seller
with respect to the Property and in effect as of the Effective Date shall
remain in effect until Close of Escrow.
10.4 OPERATION OF PROPERTY. From and after the Effective
Date and until the Close of Escrow, Seller hereby covenants and agrees that it
shall (i) operate and manage the Property in the same manner as prior to the
Effective Date, (ii) maintain all present services and amenities, and (iii)
maintain the Property in good condition, repair and working order and in
accordance with all applicable laws, ordinances, rules and regulations
affecting the Property. None of the Personal Property shall be removed from the
Real Property, unless replaced by unencumbered personal property of equal or
greater utility in value.
10.5 NO FURTHER ENCUMBRANCE. From and after the Effective
Date, Seller shall not alienate, lien, encumber or otherwise transfer all or
any portion of the Property (other than to Buyer at the Close of Escrow).
10.6 PRORATIONS. At least three business days before the
Closing, Seller shall deliver to Buyer its complete and accurate proposed
prorations for all items to be prorated pursuant to Paragraph 7.4 above.
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11. CONDEMNATION OR CASUALTY.
11.1 CONDEMNATION. If before the Closing, all or any
portion of the Property is taken by eminent domain or is the subject of a
pending taking which has not been consummated (collectively, a "Taking"),
Seller promptly shall notify Buyer of the event and Buyer shall have the
option to either proceed with or terminate this Agreement as of the date of
the Taking by delivery of written notice of Buyer's election to Seller within
ten (10) days after receipt of Seller's notice. If Seller has not received
Buyer's written notice within the ten (10) day period, then Buyer shall be
deemed to have elected to terminate the transactions contemplated by this
Agreement and Escrow Holder shall immediately refund to Buyer the Deposit. If
Buyer elects to continue with this transaction, as provided above, then the
condemnation proceeds shall become the property of Buyer after Close of Escrow.
Seller agrees to execute all documents necessary in order to effectuate such
transfer of the condemnation proceeds to Buyer.
11.2 CASUALTY. If before the Closing, all or any portion
of the Property is damaged or destroyed (collectively, a "Casualty"), Seller
promptly shall notify Buyer of the event and Buyer shall have the option to
either proceed with or terminate this Agreement as of the date of the Casualty
by delivery of written notice of Buyer's election to Seller within ten (10)
business days after receipt of Seller's notice if any of the following occur:
(i) the cost to repair the damage or destruction from the Casualty exceeds
$250,000 or will take longer than sixty (60) days to complete, (ii) the damage
or destruction or inability to repair the damage or destruction within a
certain period of time gives any tenants the right to terminate their lease,
(iii) the cost of repairing any damage or destruction as a result of the
Casualty exceeds the amount recoverable through Seller's insurance by more
than $50,000 (including the amount of any deductible) unless Seller agrees to
reimburse Buyer for the difference. If Seller has not received Buyer's written
notice within the ten (10) business day period, then Buyer shall be deemed to
have elected to terminate the transaction contemplated by this Agreement and
Escrow Holder shall immediately refund to Buyer the Deposit. If Buyer elects
to continue with this transaction as provided above, then the Casualty
proceeds from the carrier shall become the properly of Buyer after Close of
Escrow after deducting any amounts already paid by Seller to effect repairs to
such Casualty which have been approved by Buyer (however, Buyer shall receive
as a credit at Closing, the amount of any deductible or self-insured amount).
Seller agrees to execute ALL documents necessary in order to effectuate such
transfer of the Casualty proceeds to Buyer.
12. GENERAL PROVISIONS.
12.1 ASSIGNMENT.
12.1.1 Successors and Assigns. This Agreement shall
be binding upon and shall inure to the benefit of Buyer and Seller and their
respective successors and assigns.
12.1.2 Right to Assign. Buyer shall have the right
to assign its rights and obligations under this Agreement or to nominate
another person or entity to whom title to the Property shall vest without the
prior written consent of Seller. Buyer shall not be relieved of its
obligations under this Agreement by such assignment or nomination until Close
of Escrow.
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If Buyer's assignee or nominee has satisfied all of Buyer's obligations under
this Agreement as of the Closing Date, Buyer shall automatically be released
from any further obligations or responsibilities under this Agreement upon
Close of Escrow.
12.2 ATTORNEYS' FEES AND/OR COSTS. In any action or
proceeding between the parties to enforce or interpret any of the terms or
provisions of this Agreement, the prevailing party in the action or proceeding
shall be entitled to, in addition to damages, injunctive relief or other
relief, its reasonable costs and expenses, including, without limitation, costs
and reasonable attorneys' fees, both at trial and on appeal.
12.3 NOTICES AND APPROVALS. All notices, approvals or
other communications (collectively, "Notices") required or permitted under
this Agreement shall be in writing, and shall be sent by one or more of the
following: (i) personally delivered, (ii) sent by overnight mail (Federal
Express or the like), (iii) sent by registered or certified mail, postage
prepaid, return receipt requested, or (iv) sent by facsimile (provided that a
follow-up hard copy of the facsimile is sent the same day by one of the other
above methods). Notices shall be deemed received upon the earlier of (i) if
personally delivered, the day of delivery, to the address of the person to
receive such Notice, (ii) if sent by overnight mail, the business day
following its deposit in such overnight facility, (iii) if mailed, two (2)
business days after the date of posting by the United State Post Office, or
(iv) if by facsimile, the date of transmission. If multiple methods of
providing notice have been used, the earlier date of deemed notice shall
govern. In order to be effective, all Notices must be directed to the
appropriate parties as follows.
To Buyer: KIB Realty Advisors, Inc.
c/o Koll - Investment Management
Division Sixty State Street
Boston, Massachusetts 02109
Attn: Charles B. Lindwall
Telephone: (617) 722-8282
Facsimile: (617) 371-1411
With a copy to: James Chiboucas, Esq.
4343 Von Karman Avenue
Newport Beach, California 92660
Telephone: (714) 833-3030, ext. 398
Facsimile: (714) 852-9472
To Seller: EQK Realty Investors I
c/o Compass Retail, Inc.
5775 Peachtree Dunwoody Road,
Suite 200-D
Atlanta, Georgia 30342
Attn: Linda Schear
Telephone: (404) 303-2550
Facsimile: (404) 303-6124
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With a copy to: Compass Retail, Inc.
5775 Peachtree Dunwoody Road, Suite
200-D
Atlanta, Georgia 30342
Attn: Gary Werkheiser
Telephone: (404) 303-2560
Facsimile: (404) 303-6117
To Escrow Holder: Chicago Title Company
101 West Ohio Street, Suite 300
Indianapolis, Indiana 46204
Attention: Alan Kolb, Escrow Officer
Telephone: (317) 684-3800
Facsimile: (317) 684-3843
12.4 CONTROLLING LAW. This Agreement shall be construed
under the laws of the State of Indiana in effect at the time of the signing of
this Agreement. The parties consent to the jurisdiction of the Indiana courts.
12.5 TITLES AND CAPTIONS. Titles and captions are for
convenience only and shall not constitute a portion of this Agreement.
References to paragraph numbers are to paragraphs in this Agreement, unless
expressly stated otherwise.
12.6 INTERPRETATION. As used in this Agreement, masculine,
feminine or neuter gender and the singular or plural number shall each be
deemed to include the others where and when the context so dictates. The word
"including" shall be construed as if followed by the words "without
limitation." If a dispute arises over the interpretation or construction of
any provision, term or word contained in this Agreement, this document shall be
interpreted and construed neutrally, and not against either Buyer or Seller.
12.7 NO WAIVER. A waiver by either party of a breach of
any of the covenants, conditions or obligations under this Agreement to be
performed by the other party shall not be construed as a waiver of any
succeeding breach of the same or other covenants, conditions or obligations of
this Agreement.
12.8 MODIFICATIONS. Any alteration, change or modification
of or to this Agreement, in order to become effective, shall be made in
writing and in each instance signed on behalf of each party.
12.9 SEVERABILITY. If any term or provision of this
Agreement, or its application to any party or set of circumstances, shall be
held, to any extent, invalid or unenforceable, the remainder of this
Agreement, or the application of the term or provision to persons or
circumstances other than those as to whom or which it is held invalid or
unenforceable, shall not be affected, and each shall be valid and enforceable
to the fullest extent permitted by law.
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12.10 INTEGRATION OF PRIOR AGREEMENTS AND UNDERSTANDINGS.
This Agreement contains the entire understanding between the parties relating
to the transactions contemplated by this Agreement. All prior or
contemporaneous agreements, understandings, representations, warranties and
statements, whether oral or written, are superseded by this Agreement.
12.11 NOT AN OFFER. Buyer's delivery of unsigned copies of
this Agreement is solely for the purposes of review by Seller. The signing of
this Agreement by Seller constitutes an offer which shall not be deemed
accepted by Buyer unless and until Buyer has signed this Agreement and
delivered a duplicate original to Seller.
12.12 POSSESSION OF PROPERTY. Buyer shall be entitled to
possession of the Property only after the Closing and not before.
12.13 COUNTERPARTS. This Agreement may be signed in
multiple counterparts which shall, when signed by all parties, constitute a
binding agreement.
12.14 EXHIBITS INCORPORATED BY REFERENCE. All exhibits
attached to this Agreement are incorporated in this Agreement by this
reference.
12.15 COMPUTATION OF TIME. The time in which any act is to
be done under this Agreement is computed by excluding the first day (such as
the Effective Date), and including the last day, unless the last day is a
holiday or Saturday or Sunday, and then that day is also excluded. Unless
expressly indicated otherwise, all references to time shall be deemed to refer
to California time.
12.16 NO OBLIGATIONS TO THIRD PARTIES. The execution and
delivery of this Agreement shall not be deemed to confer any rights upon, nor
obligate any of the parties to this Agreement to, any person or entity other
than Buyer and Seller.
12.17 COOPERATION. From and after the Closing Date, Seller
shall in general cooperate with Buyer in connection with any litigation
involving the Property, but Seller shall not be required to institute any
lawsuit or extend any sums of money in connection with such cooperation,
unless Buyer agrees to reimburse Seller for such expenditures.
12.18 CONFIDENTIALITY. Buyer and Seller, for themselves and
their affiliates, subsidiaries, agents, employees and retained professionals,
agree to keep this Agreement and all of its terms confidential and not to make
any public announcements or public disclosures or communicate with any media
with respect to the subject matter hereof without the written consent of the
other party, provided, however that each party shall have the right to make
such disclosures as required by law.
12.19 INDEMNITIES.
12.19.1 Buyer's Indemnification. Buyer shall
indemnify, defend, and hold harmless Seller and Seller's employees, partners,
subsidiaries, parents, affiliates, shareholders,
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officers, directors, attorneys, agents, and affiliates, and their predecessors,
successors and assigns, from and against all liabilities, claims, losses,
actions, damages, fines, costs, expenses, causes of action and demands arising
out of Buyer's failure to perform or satisfy any of its contractual or legal
obligations arising from the ownership, operation, and leasing of the Property
to the extent such obligations are applicable to a period beginning on or after
the Closing Date.
12.19.2 Seller's Indemnification. Seller shall
indemnify, defend, and hold harmless Buyer and Buyer's employees, partners,
subsidiaries, parents, affiliates, shareholders, officers, directors,
attorneys, agents, and affiliates, and their predecessors, successors and
assigns, from and against all liabilities, claims, losses, actions, damages,
fines, costs, expenses, causes of action and demands arising out of Seller's
failure to perform or satisfy any of its contractual or legal obligations
arising from the ownership, operation, and leasing of the Property to the
extent such obligations are applicable to a period prior to the Closing Date.
12.20 FURTHER ASSURANCES. Buyer and Seller each agree to
execute, acknowledge and deliver all such further acts, instruments, and
assurances and to take all such further action before or after the Closing as
shall be reasonably necessary and desirable to fully carry out this Agreement
and to fully consummate and effect the transaction as contemplated by this
Agreement.
12.21 NO THIRD PARTY BENEFICIARIES. This Agreement is for
the sole and exclusive benefit of Buyer and Seller, and their respective
successors and assigns, and no third parties are intended to or shall have any
rights under this Agreement.
"SELLER" "BUYER"
EQK REALTY INVESTORS I, K/B REALTY ADVISORS, INC.,
a Massachusetts Business Trust a Delaware corporation
By /s/ Gregory R. Greenfield By: /s/ Charles B. Lindwall
------------------------------ -------------------------
Gregory R. Greenfield Exec. V.P. Charles B. Lindwall SVP
- --------------------------------- -------------------------
(Print Name) (Title) (Print Name) (Title)
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LAND DESCRIPTION
EXHIBIT "A"
LEGAL DESCRIPTION:
Parcel I (East Part of Castleton Commercial Park):
Part of the Southeast Quarter of Section 22, Township 17 North, Range 4 East in
Marion County, Indiana, described as follows:
Beginning at the Northwest corner of the Southeast Quarter of Section 22.
Township 17 North, Range 4 East; thence South 00 degrees 07 minutes 10 seconds
West (assumed bearing) on the West line thereof 259.83 feet; thence South 89
degrees 52 minutes 50 seconds East 35.64 feet to the True Beginning Point of
the real estate herein described on an East line of real estate conveyed to the
City of Indianapolis D.O.T. by a Warranty Deed recorded as Instrument #75-13337
in the Office of the Recorder of Marion County, Indiana; continuing thence
South 89 degrees 52 minutes 50 seconds East 563.96 fast to the Southerly
prolongation of the West line of a non-exclusive roadway easement described in
a grant recorded as Instrument #75-4800 in the office of the Recorder of Marion
County, Indiana; thence North 00 degrees 07 minutes 10 seconds East on said
Southerly prolongation and West line 227.79 feet to the Southerly right-of-way
line of East 82nd Street on a curve having a radius length of 54,517.41 feet
which bears South 00 degrees 07 minutes 00.7 seconds East; thence Easterly on
said right-of-way line and curve to the right 54.00 feet to the West line of
real estate leased to Goodyear Tire and Rubber Company as described in a lease
recorded as Instrument #74-71954 in the Office of the Recorder of Marion
County, Indiana; thence South 00 degrees 7 minutes 10 seconds West on said West
line 299.74 feet to the Southwest corner thereof; thence South 89 degrees 52
minutes 50 seconds East on the South line of said leased real estate 100.11
feet to a point that is 753.71 feet North 90 degrees 00 minutes 00 seconds East
of the West line of said Southeast Quarter; thence South 00 degrees 07 minutes
10 seconds West parallel with said West line 5.13 feet to a point that is
338.29 feet South 00 degrees 07 minutes 10 seconds West of the North line of
said Southeast Quarter; thence South 90 degrees 00 minutes 00 seconds East
parallel with said North line 426.69 feet to a point that is 1180.40 feet North
90 degrees 00 minutes 00 seconds East of the West line of said Southeast
Quarter; thence North 00 degrees 07 minutes 10 seconds East parallel with said
West line 53.25 feet; thence North 90 degrees 00 minutes 00 seconds East
parallel with the North line of said Southeast Quarter 152.81 feet to the West
line of the Northeast Quarter of said Southeast Quarter; thence North 00
degrees 07 minutes 26 seconds East on said West line 285.04 feet to the
Northwest corner of the Northeast Quarter of said Southeast Quarter; thence
North 90 degrees 00 minutes 00 seconds East on the North line thereof 350.00
feet; thence South 00 degrees 07 minutes 26 seconds West parallel with the West
line of said Quarter Quarter 386.30 feet; thence South 90 degrees 00 minutes 00
seconds East parallel with the North line of said Quarter Quarter 226.04 feet
to the West line of Herrin's Addition to Caseleton, as per plat thereof,
recorded in plat Book 11, page 15 in the Office of the Recorder of Marion
County, Indiana; thence South 00 degrees 21 minutes 21 seconds West on said
West line 232.00 feet to a point that is 618.30 feet South 00 degrees 21
minutes 21 seconds West of the North line of said Southeast Quarter; thence
South 89 degrees 38 minutes 39 seconds East 229.50 feet to the Northwesterly
right-of-way line of the Norfolk & Western (formerly Lake Erie & Western)
Railroad; thence South 27 degrees 36 minutes 55 seconds West on said
right-of-way line 800.50 feet; thence South 27 degrees 35 minutes 05 seconds
West on said right-of-way line 1342.34 feet to the Northerly right-of-way line
of Interstate Highway I-465 as conveyed by a deed recorded as Instrument
#68-24425, in the Office of the Recorder of Marion County, Indiana; thence
North 81 degrees 02 minutes 41 seconds West on said Northerly right-of-way
(Continued)
Page 1 of 4
EXHIBIT "A"
TO PURCHASE AGREEMENT
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line 813.26 feet; thence 58 degrees 47 minutes 04 seconds West on said
right-of-way line 314.90 feet; thence North 54 degrees 40 minutes 01 seconds
West on said right-of-way line 92.92 feet to the West line of said Southeast
Quarter; thence North 00 degrees 07 minutes 10 second East on said West line
940.98 feet to the Southwest corner of the Northwest Quarter of said Southeast
Quarter; thence North 89 degrees 49 minutes 43 seconds East onthe South line
of said Quarter Quarter 493.49 feet; thence North 00 degrees 07 minutes 10
seconds East parallel with the West line of said Southeast Quarter 382.61 feet
to the South line of real estate described in a Quitclaim Deed recorded as
Instrument #76-51152 in the Office of the Recorder of Marion County,
Indiana; thence North 85 degrees 51 minutes 35 seconds West on said South line
458.48 feet to an East line of real estate conveyed to the City of Indianapolis
per Instrument #75-13337; thence North 00 degrees 07 minutes 10 seconds
East on said East line 670.44 feet; thence North 53 degrees 59 minutes 08
seconds East on an East line of said real estate 1.17 feet; thence North 00
degrees 48 minutes 32 seconds West on an East line of said real estate 18.60
feet (18.09 feet measured to the True Beginning Point.)
Except therefrom that part conveyed to McCready and Keene, Inc. by deed
recorded December 24, 1991 as Instrument #91-132112, to-wit:
Part of the South Half of the Southeast Quarter of Section 22. Township 17
North. Range 4 East, Lawrence Township, Marion County, Indiana, more
particularly described as follows:
Commencing at the Northwest corner of the South Half of the Southeast Quarter
of Section 22, Township 17 North, Range 4 East. Lawrence Township, Marion
County, Indiana; thence North 89 degrees 49 minutes 43 seconds East (assumed
bearing) 1200.35 feet to the North line thereof to the centerline of Castleway
Drive; thence South 00 degrees 07 minutes 10 seconds West 397.13 feet on said
centerline to the point of curvature of a tangent curve concave Westerly,
having a radius of 200.00 feet which bears North 89 degrees 52 minutes 50
seconds West from said point of curvature; thence Southwesterly along the arc
of said curve to the right a distance of 92.20 feet; thence North 89 degrees 49
Minutes 43 seconds East 16.90 feet parallel with the North line of said South
Half to the Point of Beginning; thence continuing North 89 degrees 45 minutes
43 seconds East 283.53 feet parallel with the North line of said South half to
a PK Nail set at a point located 31 feet Northwesterly, as measured at right
angles to the Northwesterly right-of-way line of the former Norfolk and Western
Railroad; thence South 27 degrees 35 minutes 05 seconds West 468.05 feet
parallel with the right-of-way for said Railroad to a PK Nail set; thence North
62 degrees 24 minutes 55 seconds West 279.65 feet to the point of intersection
of a non-tangent curve, concave Northwesterly, having a radius of 214.00 feet
which bears North 32 degrees 25 minutes 06 seconds West from said point of
intersection; thence Northeasterly along the arc of said curve an arc distance
of 112.04 feet to the point
(Continued)
Page 2 of 4
EXHIBIT "A"
TO PURCHASE AGREEMENT
-2-
34
of tangency thereof; thence North 27 degrees 35 minutes 05 seconds East 217.49
feet to the point of curvature of a tangent curve, concave Westerly having a
radius of 214.00 feet which bears North 62 degrees 24 minutes 55 seconds West
from said point of curvature; thence Northeasterly along the arc of said curve
to the left an arc distance of 10.31 feet to the point of Beginning.
Parcel II (West part of Castleton Commercial Park):
Part of the Southwest Quarter of Section 22, Township 17 North, Range 4 East in
Marion County, Indiana, described as follows:
Beginning on the East line of the Southwest Quarter of Section 22, Township 17
North, Range 4 East 262.59 feet South 00 degrees 07 minutes 10 seconds West
(assumed bearing) from the Northeast corner thereof: continuing thence South 00
degrees 07 minutes 10 seconds West on said East line 1447.01 feet; thence North
89 degrees 52 minutes 50 seconds West 155.00 feet: thence North 00 degrees 07
minutes 10 seconds East parallel with the East line of said Southwest Quarter
205.00 feet; thence North 89 degrees 52 minutes 50 seconds West 30.00 feet;
thence North 00 degrees 07 minutes 10 seconds East 10.00 feet; thence North 36
degrees 47 minutes 35 seconds West 743.63 feet; thence South 18 degrees 07
minutes 27 seconds East 739.31 feet to a point that is 195.00 feet North 39
degrees 49 minutes 31 seconds East of the Northeasterly right-of-way line of
I-465; thence South 50 degrees 10 minutes 29 seconds East parallel with said
right-of-way line 70.00 feet; thence South 39 degrees 49 minutes 31 seconds
West 195.00 feet to said right-of-way line; thence North 50 degrees 10 minutes
29 seconds West on said right-of-way line 2569.98 feet to the South line of the
right-of-way widening for East 82nd Street bridge over I-465; thence North 74
degrees 03 minutes 11 seconds East on said right-of-way line 129.13 feet;
thence North 81 degrees 01 minutes 35 seconds East on said line 353.28 feet to
the East line of said right-of-way widening; thence North 00 degrees 37 minutes
57 seconds West on said East line 37.59 feet to the North line of said
Southwest Quarter; thence North 89 degrees 22 minutes 03 seconds East on said
North line 45.63 feet to a point that is 600.00 feet South 89 degrees 22
minutes 03 seconds West of the Northeast corner of the Northwest Quarter of
said Southwest Quarter; thence South 00 degrees 06 minutes 25 seconds West
parallel with the East line of the Northwest Quarter of said Southwest Quarter
227.80 feet; thence North 89 degrees 22 minutes 03 seconds East parallel with
the North line of said Southwest Quarter 600.00 feet to the East line of the
Northwest Quarter of said Southwest Quarter; thence South 00 degrees 06 minutes
25 seconds West on said East line 207.80 feet; thence North 89 degrees 22
minutes 03 seconds East parallel with the North line of said Southwest Quarter
300.00 feet; thence North 00 degrees 06 minutes 25 seconds East parallel with
the West line of the Northeast Quarter of said Southwest Quarter 205.60 feet to
a point that is 230.00 feet South 00 degrees 06 minutes 25 seconds West of the
North line of said 230.00 feet South 00 degrees 06 minutes 25 seconds West of
the North line of said Quarter; thence North 85 degrees 22 minutes 03 seconds
East parallel with the
(Continued)
PAGE 3 OF 4
EXHIBIT "A"
TO PURCHASE AGREEMENT
-3-
35
said North line 220.00 feet; thence North 00 degrees 06 minutes 25 seconds East
parallel with the West line of the Northeast Quarter of said Southwest Quarter
230.00 feet to a point on the North line of said Southwest Quarter which is
810.16 feet South 89 degrees 22 minutes 03 seconds West of the Northeast corner
thereof; thence North 89 degrees 22 minutes 03 seconds East on said North line
320.39 feet; thence South 00 degrees 07 minutes 10 seconds West parallel with
the East line of said Southwest Quarter 257.60 feet; thence North 89 degrees 22
minutes 03 seconds East parallel with the North line of said Quarter 180.00
feet; thence South 00 degrees 07 minutes 10 seconds West parallel with the East
line of said Quarter 4.99 feet; thence North 89 degrees 22 minutes 03 seconds
East parallel with the North line of said Quarter 265.45 feet to the Westerly
line of real estate conveyed to the City of Indianapolis Department of
Transportation by a Warranty Deed recorded as Instrument #73-57723 in the
Office of the Recorder of Marion County, Indiana; thence South 11 degrees 11
minutes 03 seconds East on said Westerly line 27.16 feet; thence South 35
degrees 07 minutes 45 second East 42.63 feet to the Easterly line of said real
estate; thence North 00 degrees 07 minutes 10 seconds East on said Easterly
line 61.67 feet to a point that is 262.59 feet South 00 degrees 07 minutes 10
seconds West of the North line of said Southwest Quarter; thence North 89
degrees 22 minutes 03 seconds East parallel with said North line 14.50 feet to
the Beginning Point.
Except therefrom that part conveyed to The Wesleyan Church Corporation by deed
recorded December 24, 1991 as Instrument #91-132118, to-wit:
Part of the Southwest Quarter of Section 22, Township 17 North, Range 4 East
Lawrence Township, Marion County, Indiana, more particularly described as
follows: Commencing at the Northeast corner of the Southwest Quarter of Section
22, Township 17 North, Range 4 East; thence South 00 degrees 07 minutes 10
seconds West (assumed bearing) on and along the East line thereof 2175.30 feet
to the Northerly right-of-way line of Interstate Highway 465; thence North 54
degrees 37 minutes 11 seconds West on and along said right-of-way line 125.36
feet; thence North 50 degrees 10 minutes 29 seconds West on and along said
right-of-way line 479.00 feet to the Southeasterly corner of the real estate
described in a Corporate Warranty Deed recorded as Instrument #85-19064 in the
Office of the Recorder of Marion County, Indiana; thence North 39 degrees 49
minutes 31 seconds East 40.00 feet on the Easterly line of said Instrument
#85-19064 to a 5/8 inch rebar w/cap at the Point of Beginning of this
description; thence North 50 degrees 10 minutes 29 seconds west 1070.50 feet
parallel with the aforesaid Northerly right-of-way line for Interstate Highway
465 to a 5/8 inch rebar w/cap; thence North 39 degrees 49 minutes 31 second
East 155.00 feet; thence South 50 degrees 10 minutes 29 seconds East 1070.50
feet parallel with the aforesaid Northerly right-of-way line for Interstate
Highway 465 to a point which bears North 39 degrees 49 minutes 31 seconds East
155.00 feet from the point of beginning; thence South 39 degrees 49 minutes 31
seconds West 155.00 feet to the Point of Beginning.
PAGE 4 OF 4
EXHIBIT "A"
TO PURCHASE AGREEMENT
-4-
36
PERSONAL PROPERTY DESCRIPTION
EXHIBIT B
CASTLETON OFFICE PARK
PERSONAL PROPERTY IN BUILDINGS
12 Wooden Trash Receptacles
10 Exterior Cigarette/Trash Receptacle
16 Wooden Bench
13 Wooden Planter
9 Wooden End Table
3 Wooden Planter (Large)
45 Artwork (Framed Prints)
8 Cork Board - Mounted
50 Wood Picnic Tables
25 Wood/Metal Picnic Tables
1 Compaq Computer (Ms. Kathy Woodard)
-No Printer-
MAINTENANCE SHOP
- ----------------
- - Numerous 2x4 and 2x2 Fluorescent Fixtures - 1 - colorant carrousel
- - Portion of Basketball Floor from Training Facility - 1 - DeVilbiss spray gun
- - Misc. Maintenance Supplies - 1 - Red Devil paint mixer
- - Large Supply of Rock Salt, Ice Melt and Road Salt - 1 - gallon paint shaker
- - Misc. Plumbing Supplies - 1 - 1.5 hp craftsman air compressor
- - 1 - Badger air brush - 1 - Craftsman belt sander
- - 1 - 1/4 sheet palm sander - 1 - 1/2" drill
- - 1 - Milwaukee screw gun - 1 - Spartan drain auger
- - 1 - Milwaukee electric hand auger - 1 - Cole Key duplicating machine
- - 1 - Zipco lock combinating pin set - 1 Best core combinating pin set
- - 1 - Scott router-edger - 1 - Scott pantograph sm-300
- - 2 - golf carts - 7 - Honda snowblowers
- - 1 - push sweeper - 1 - billygoat vacuum
- - 1 - Mclane edger - 1 - John Deere edger
- - 2 - hose reels with hose - 2 - Honda generators
- - 1 - pole pruner - 1 - Echo chain saw
- - 3 - electric hedge trimmers - 2 - Earthway broadcast spreaders
- - 1 - 12-volt battery charger - 1 - 3-ton floor jack
- - 1 - forklift with carpet pole - 1 - combustible liquids cabinet
- - 2 - rrti refrigerant recovery units - 1 - Fluke multi-meter
- - 2 - 50# recovery tanks - 1 - Total Clean refrigerant recovery
- - 2 - Tif 9000 electronic charging meter - 7 - 30# recovery tanks
- 2 - vacuum pumps
EXHIBIT "B"
TO PURCHASE AGREEMENT
-1-
37
CASTLETON OFFICE PARK
PERSONAL PROPERTY
PAGE 2
- - 1 - Milwaukee Metal cutting shear - 1 - Dayton hand vac
- - 1 - pressure regulator for nitrogen - 1 - Oxy-acetylene torch set
- - 3 - acetylene tanks - 3 - oxygen tanks
- - 1 - Ridgid tristand chain vise - 1 - Ridgid pipe cutter
- - 1 - Ridgid pipe reamer - 1 - Ridgid power drive unit
- - 1 - pressure sprayer - 1 - Milwaukee battery drill
- - 1 - Makita battery drill - 2 - Milwaukee ac drills
- - 1 - 4' step ladder - 1 - 5' step ladder
- - 8 - 6' step ladder - 2 - 8' step ladder
- - 1 - 10' step ladder - 3 - 24' extension ladder
- - 1 - rolling scaffold - 1 - folding ladder
- - 1 - electric floor scraper - 3 - wet/dry vaccum
- - Best Lock Key Machine
EXHIBIT "B"
TO PURCHASE AGREEMENT
-2-
38
PERMITS, WARRANTIES AND INTANGIBLES
Sign ordinance/permit issued 1981
Certificates of occupancy for each building
Use of the name "Castleton Park" subject to rights established under the
Declaration of Covenants
Various HVAC equipment warranties remaining in effect
Full or partial roof/roofing materials warranties on Buildings 47, 46, 42, 41,
19, 17, 15, 2 and 7
EXHIBIT "C"
TO PURCHASE AGREEMENT
-1-
39
LEASES
EQK REALTY INVESTORS I
DUE DILIGENCE LOG
EFFECTIVE
BLDG/STE TENANT DESCRIPTION DATE
- --------------------------------------------------------------------------------------------------------------
01-103 Indianapolis Church of Christ Lease 09/01/92
Proposal/Contract for Tenant Improv. 09/01/92
Addendum I 09/01/92
Addendum II 09/15/95
- --------------------------------------------------------------------------------------------------------------
02-125 Oscar, Inc. Lease (expired) 09/01/92
(New lease being negotiated) Addendum I 01/01/94
- --------------------------------------------------------------------------------------------------------------
03-108 Fairley and Company Lease 01/01/89
Addendum I 04/01/94
Addendum II 07/01/95
Beginning Tenant Allowance as adj. $2.73
- --------------------------------------------------------------------------------------------------------------
03-110 Marks A. Levy, Inc. Lease 03/01/93
Beginning Tenant Allowance as adj. $3.92
- --------------------------------------------------------------------------------------------------------------
04-190 Biosound Lease (expired) 05/01/90
(New lease being negotiated) Amortized rent per month thru 4/95 $1,035.19
Beginning Tenant Allowance as adj. $0.90
- --------------------------------------------------------------------------------------------------------------
05-101 Frakes Engineering Lease 04/01/89
Beginning Tenant Allowance as adj. $1.08
- --------------------------------------------------------------------------------------------------------------
06-102 Tronitech, Inc. Lease 01/01/93
- --------------------------------------------------------------------------------------------------------------
07-102 James R. Moore, CPA Lease 07/01/91
Addendum I 08/01/92
Addendum II 01/01/94
Beginning Tenant Allowance as adj. $4.17
- --------------------------------------------------------------------------------------------------------------
07-104 Mold Engineering, Inc. Lease 10/01/90
Addendum I 10/01/93
- --------------------------------------------------------------------------------------------------------------
07-106 Wigest Corporation Lease 08/01/92
Beginning Tenant Allowance as adj. $5.01
- --------------------------------------------------------------------------------------------------------------
07-108 Broadway Marketing, Inc. Lease 04/01/94
- --------------------------------------------------------------------------------------------------------------
07-204 High School B-Ball Cards Lease 09/01/92
Beginning Tenant Allowance as adj. $5.01
- --------------------------------------------------------------------------------------------------------------
07-205 ABB Power T&D Company Lease 04/01/91
Addendum I 04/01/94
Beginning Tenant Allowance as adj. $4.17
- --------------------------------------------------------------------------------------------------------------
07-209 Thomas W. Hasewinkel Lease 08/01/92
Addendum I 08/01/92
Addendum II 03/01/95
Beginning Tenant Allowance as adj. $5.01
- --------------------------------------------------------------------------------------------------------------
07-210 Jerome Modlik Lease 11/01/94
- --------------------------------------------------------------------------------------------------------------
07-211 L. David Vancil, D.D.S. Lease 06/01/94
Addendum I 06/01/94
Addendum II 06/01/94
- --------------------------------------------------------------------------------------------------------------
07-214 Birthwise/Tokos Medical Corp. Lease 03/01/92
Addendum I 03/01/95
Beginning Tenant Allowance as adj. $5.01
- --------------------------------------------------------------------------------------------------------------
08-100 John King Productions, Inc. Lease 08/01/95
- --------------------------------------------------------------------------------------------------------------
08-103 James A. Rupp Lease 10/01/94
- --------------------------------------------------------------------------------------------------------------
EXHIBIT "D" (10 pages)
EXHIBIT "D"
TO PURCHASE AGREEMENT
-1-
40
EQK REALTY INVESTORS I
DUE DILIGENCE LOG
EFFECTIVE
BLDG/STE TENANT DESCRIPTION DATE
- --------------------------------------------------------------------------------------------------------------
08-105 Krause's Wide World Serivces Lease 01/01/93
Addendum I 01/01/94
Addendum II 01/01/95
Beginning Tenant Allowance as adj. $5.09
- --------------------------------------------------------------------------------------------------------------
08-106 Accura Tax Service, Inc. Lease 07/01/95
- --------------------------------------------------------------------------------------------------------------
08-107 Esty Limited Liability Lease 12/01/92
Addendum I 12/01/93
Addendum II 03/01/94
Addendum III 12/01/94
Assignment of Lease 04/29/95
Beginning Tenant Allowance as adj. $5.09
- --------------------------------------------------------------------------------------------------------------
08-112 Acme Health Services, Inc. Lease 02/01/95
- --------------------------------------------------------------------------------------------------------------
08-120 Independent Order of Foresters Lease 01/01/86
Addendum I 01/01/91
Beginning Tenant Allowance as adj. $3.05
- --------------------------------------------------------------------------------------------------------------
08-130 Indiana Exchange, Inc. Lease 03/01/93
Addendum I 03/01/93
Beginning Tenant Allowance as adj. $5.28
- --------------------------------------------------------------------------------------------------------------
08-200 Heritage Indiana Medical Group Lease 05/01/95
Addendum I 05/01/95
- --------------------------------------------------------------------------------------------------------------
08-202 United Insurance Agencies Lease 01/01/93
Beginning Tenant Allowance as adj. $5.28
- --------------------------------------------------------------------------------------------------------------
08-203 Ronald K. Bowman, D.D.S. Lease 01/01/83
Addendum I 01/01/83
Addendum II 01/01/83
Addendum III 01/01/88
Addendum IV 01/01/93
- --------------------------------------------------------------------------------------------------------------
08-206 Enochs Manufacturing, Inc. Lease 04/01/91
Addendum I 04/01/94
Beginning Tenant Allowance as adj. $4.72
- --------------------------------------------------------------------------------------------------------------
08-215 Physicians Mutual Insurance Lease 04/01/91
Addendum I 04/01/93
Addendum II 04/01/95
Beginning Tenant Allowance as adj. $4.56
- --------------------------------------------------------------------------------------------------------------
09-104 Miller & Associates Lease 07/01/89
Addendum I 07/01/92
Beginning Tenant Allowance as adj. $4.01
- --------------------------------------------------------------------------------------------------------------
09-105 American Family Insurance Lease 12/01/92
Addendum I 06/01/93
Addendum II 12/01/93
Addendum III 12/01/94
Beginning Tenant Allowance as adj. $4.64
- --------------------------------------------------------------------------------------------------------------
09-106 Praxair, Inc. Lease 08/01/91
Addendum I 08/01/92
Addendum II 08/01/93
Addendum III 08/01/94
Addendum IV 08/01/95
Beginning Tenant Allowance as adj. $4.20
- --------------------------------------------------------------------------------------------------------------
EXHIBIT "D"
TO PURCHASE AGREEMENT
-2-
41
EQK REALTY INVESTORS I
DUE DILIGENCE LOG
EFFECTIVE
BLDG/STE TENANT DESCRIPTION DATE
- --------------------------------------------------------------------------------------------------------------
09-107 IARCC Lease 11/01/90
Addendum I 11/01/93
Beginning Tenant Allowance as adj. $4.20
- --------------------------------------------------------------------------------------------------------------
09-108 Pro-Mark, Inc. Lease 10/01/94
- --------------------------------------------------------------------------------------------------------------
09-110 Norton Company Lease 02/01/93
Beginning Tenant Allowance as adj. $4.88
- --------------------------------------------------------------------------------------------------------------
09-112 Woodmen Accident & Life Lease 05/01/94
- --------------------------------------------------------------------------------------------------------------
09-113 The Reynolds & Reynolds Co. Lease 03/01/89
Addendum I 03/01/92
Addendum II 03/01/94
Beginning Tenant Allowance as adj. $3.91
- --------------------------------------------------------------------------------------------------------------
09-115 Independent Order of Foresters Lease 05/01/94
- --------------------------------------------------------------------------------------------------------------
09-202 Foundation Property Mgmt. Lease 10/01/94
- --------------------------------------------------------------------------------------------------------------
09-206 Marks A. Levy, Inc. Lease 10/01/93
- --------------------------------------------------------------------------------------------------------------
09-209 Indy Lube Service, Inc. Lease 10/01/94
- --------------------------------------------------------------------------------------------------------------
09-210 William C. Teilman, D.D.S. Lease 01/01/95
- --------------------------------------------------------------------------------------------------------------
09-216 Marybeth Brandt, D.D.S. Lease 11/01/94
- --------------------------------------------------------------------------------------------------------------
10-100 Equity Financial Services, Inc. Lease 03/01/95
Addendum I 05/01/95
- --------------------------------------------------------------------------------------------------------------
10-102 Lawrence C. Arany Lease 03/01/92
Addendum I 03/01/94
Addendum II 10/01/94
Beginning Tenant Allowance as adj. $4.64
- --------------------------------------------------------------------------------------------------------------
10-104 John C. Wolbert Lease 03/01/95
- --------------------------------------------------------------------------------------------------------------
10-109 James L. Hunter Lease 07/01/93
Addendum I 02/01/94
Addendum II 01/01/95
Beginning Tenant Allowance as adj. $4.83
- --------------------------------------------------------------------------------------------------------------
10-110 Robert Bak C. Shin, M.D. Lease 01/01/92
Addendum I 09/01/92
Beginning Tenant Allowance as adj. $4.64
- --------------------------------------------------------------------------------------------------------------
10-111 Richard J. Moore Lease 07/01/94
- --------------------------------------------------------------------------------------------------------------
10-112 Fame, Inc. Lease 10/01/93
Beginning Tenant Allowance as adj. $4.83
- --------------------------------------------------------------------------------------------------------------
10-115 Vulcraft Sales Corporation Lease 03/01/89
(Was 26-114) Addendum I 03/01/92
Addendum II 03/01/95
Beginning Tenant Allowance as adj. $5.70
- --------------------------------------------------------------------------------------------------------------
10-204 ATMS Lease 12/01/93
- --------------------------------------------------------------------------------------------------------------
10-207 Executive Strategies, Inc. Lease 05/01/93
Addendum I 05/01/93
Addendum II 10/01/94
Addendum III 05/01/95
Beginning Tenant Allowance as adj. $4.83
- --------------------------------------------------------------------------------------------------------------
EXHIBIT "D"
TO PURCHASE AGREEMENT
-3-
42
EQK REALTY INVESTORS I
DUE DILIGENCE LOG
EFFECTIVE
BLDG/STE TENANT DESCRIPTION DATE
- --------------------------------------------------------------------------------------------------------------
10-209 Christian Medical & Dental Soc. Lease 01/01/91
Addendum I 01/01/92
Addendum II 01/01/93
Addendum III 01/01/94
Addendum IV 01/01/95
Beginning Tenant Allowance as adj. $4.16
- --------------------------------------------------------------------------------------------------------------
10-212 Veda, Inc. Lease 02/01/95
Addendum I 03/01/95
- --------------------------------------------------------------------------------------------------------------
11-118 King, Reiman, Skaggs Insurance Lease 11/01/91
Beginning Tenant Allowance as adj. $3.61
- --------------------------------------------------------------------------------------------------------------
11-120 Metropolitan Property & Casualty Lease 11/01/92
Addendum (Tenant Impr.) 11/01/92
Beginning Tenant Allowance as adj. $3.61
- --------------------------------------------------------------------------------------------------------------
12-105 Technetics, Inc. Lease 04/01/95
- --------------------------------------------------------------------------------------------------------------
12-109 Rue Educational Publishers Lease 07/01/93
Beginning Tenant Allowance as adj. $4.54
- --------------------------------------------------------------------------------------------------------------
14-102 Ito & Koby Dental Studio Lease 12/01/93
Addendum I 12/01/93
- --------------------------------------------------------------------------------------------------------------
14-108 Technetics, Inc. Lease 11/01/89
Addendum I 12/01/93
Addendum II 11/01/94
Beginning Tenant Allowance as adj. $1.29
- --------------------------------------------------------------------------------------------------------------
15-400 USAF, Inc. Lease 07/01/87
Addendum 07/01/87
Addendum II 09/01/87
Addendum III 09/01/89
Addendum IV 10/01/89
Addendum V 10/01/90
Addendum VI 08/01/92
Addendum VII 05/01/96
- --------------------------------------------------------------------------------------------------------------
16-140 Arbor Office Suites Lease 11/01/94
- --------------------------------------------------------------------------------------------------------------
17-130 SAIC Lease 03/01/89
Addendum I 06/14/89
Addendum II 10/01/89
Addendum III 03/01/94
Addendum IV 01/01/95
Beginning Tenant Allowance as adj. $2.87
- --------------------------------------------------------------------------------------------------------------
17-140 Arbor Express Lease 06/01/92
- --------------------------------------------------------------------------------------------------------------
18-104 Trident Foods, Inc. Lease 12/01/92
Addendum I 05/01/94
Beginning Tenant Allowance as adj. $5.34
- --------------------------------------------------------------------------------------------------------------
18-105 Northstar Telecommunications Lease 11/01/94
Addendum I 04/01/95
- --------------------------------------------------------------------------------------------------------------
18-108 Tom Harris & Associates Lease 08/01/95
- --------------------------------------------------------------------------------------------------------------
18-200 United Parcel Service, Inc. Lease 12/01/94
- --------------------------------------------------------------------------------------------------------------
EXHIBIT "D"
TO PURCHASE AGREEMENT
-4-
43
EQK REALTY INVESTORS I
DUE DILIGENCE LOG
EFFECTIVE
BLDG/STE TENANT DESCRIPTION DATE
- --------------------------------------------------------------------------------------------------------------
19-150 Earl Grissmer Company, Inc. Lease 09/01/76
(Blue Lustre Home Care Prod.) Consent to Assignment 09/01/76
Agreement/Right of First Refusal (Que) 09/01/82
Addendum 02/14/83
Rider Number Two 08/01/76
Rider Number Three 02/01/78
Rider Number Four 02/01/82
Rider Number Five 03/01/83
Rider Number Six 03/01/83
Rider Number Seven 01/15/84
Rider VIII 08/01/86
Rider IX 08/01/91
- --------------------------------------------------------------------------------------------------------------
19-160 Groundwater Technology, Inc. Lease 01/01/94
Addendum I 01/01/94
Addendum II 02/01/95
- --------------------------------------------------------------------------------------------------------------
21-104 Helena Chemical Company Lease 08/01/92
Addendum I 03/01/94
Addendum II 10/01/94
Beginning Tenant Allowance as adj. $4.80
- --------------------------------------------------------------------------------------------------------------
21-110 GLA Collection Co., Inc. Lease 04/01/95
- --------------------------------------------------------------------------------------------------------------
21-115 Redding - Troy Insurance Lease 07/01/92
Beginning Tenant Allowance as adj. $4.80
- --------------------------------------------------------------------------------------------------------------
21-117 Sherwin-Williams Company Lease 02/01/92
Beginning Tenant Allowance as adj. $4.80
- --------------------------------------------------------------------------------------------------------------
21-120 VRG International Lease 04/01/95
Addendum I 04/01/95
Addendum II 05/01/95
- --------------------------------------------------------------------------------------------------------------
21-121 Specialty Sales, Inc. Lease 01/01/95
Addendum I 01/01/95
- --------------------------------------------------------------------------------------------------------------
21-127 Promise Keepers Lease 06/01/94
- --------------------------------------------------------------------------------------------------------------
21-130 Terstep Recreation Co. Lease 04/01/90
(Trotmar, Inc.) Assignment of Lease 04/01/90
Addendum I 04/01/93
Agreement for storage space 05/12/94
Beginning Tenant Allowance as adj. $4.16
- --------------------------------------------------------------------------------------------------------------
21-139 Love, Inc. Lease 09/01/92
Addendum I 09/01/93
Addendum II 09/01/94
Beginning Tenant Allowance as adj. $4.80
- --------------------------------------------------------------------------------------------------------------
21-141 Charles E. Hill & Associates Lease 12/01/91
Addendum I 12/01/92
Addendum II 06/01/93
Addendum III 12/01/93
Addendum IV 12/01/94
Beginning Tenant Allowance as adj. $4.45
- --------------------------------------------------------------------------------------------------------------
21-200 USA Group, Inc. Lease 05/01/95
Addendum I 05/01/95
- --------------------------------------------------------------------------------------------------------------
21-210 Mitchum, Jones & Templeton Lease 05/01/94
- --------------------------------------------------------------------------------------------------------------
EXHIBIT "D"
TO PURCHASE AGREEMENT
-5-
44
EQK REALTY INVESTORS I
DUE DILIGENCE LOG
EFFECTIVE
BLDG/STE TENANT DESCRIPTION DATE
- --------------------------------------------------------------------------------------------------------------
22-110 Conner Insurance Agency Lease 10/01/87
Addendum I 10/01/92
Addendum II 09/01/94
Beginning Tenant Allowance as adj. $3.12
- --------------------------------------------------------------------------------------------------------------
22-120 Jere V. Horwitz & Assoc. Lease 05/01/94
- --------------------------------------------------------------------------------------------------------------
24-105 Unisys Corporation Lease 09/01/77
Admendment 11/01/77
Sublease Agreement 03/01/93
- --------------------------------------------------------------------------------------------------------------
26-111 Kenai Ltd., Inc. Lease 08/01/95
(James Murphy)
- --------------------------------------------------------------------------------------------------------------
26-112 Comarco Lease 08/01/94
Addendum I 05/01/95
- --------------------------------------------------------------------------------------------------------------
26-115 Patricia Boer Lease 02/01/92
Addendum I 02/01/93
Addendum II 02/01/94
Addendum III 02/01/95
Beginning Tenant Allowance as adj. $5.01
- --------------------------------------------------------------------------------------------------------------
26-118 Star Benefit Associates, Inc. Lease 04/01/95
- --------------------------------------------------------------------------------------------------------------
26-119 Health Shared Services Lease 07/01/95
- --------------------------------------------------------------------------------------------------------------
26-120 Castleton Family Physicians Lease 08/01/92
- --------------------------------------------------------------------------------------------------------------
26-127 Interim Personnel Lease 08/01/95
- --------------------------------------------------------------------------------------------------------------
26-128 Fritzsche & Associates Lease 07/01/93
Addendum I 07/01/93
Addendum II 10/01/93
Beginning Tenant Allowance as adj. $5.18
- --------------------------------------------------------------------------------------------------------------
26-130 Benefit Trust Life Insurance Lease 12/01/92
- --------------------------------------------------------------------------------------------------------------
26-134 Thorn Apple Valley Lease 05/01/90
Addendum I 05/01/93
Lease Assignment 05/30/95
Beginning Tenant Allowance as adj. $4.37
- --------------------------------------------------------------------------------------------------------------
26-200 Federated Mutual Insurance Lease 06/01/95
Addendum I 06/01/95
Lease Abstract
- --------------------------------------------------------------------------------------------------------------
26-232 Heartland Financial Services Lease 05/01/94
Addendum II 06/01/94
- --------------------------------------------------------------------------------------------------------------
27-200 Radio Indianapolis, Inc Lease 07/01/94
(WFMS) Addendum I 07/01/94
- --------------------------------------------------------------------------------------------------------------
29-105 Intergraph Corporation Lease 06/01/95
- --------------------------------------------------------------------------------------------------------------
29-110 Apple American of Indiana Lease 09/01/95
- --------------------------------------------------------------------------------------------------------------
29-112 Bank One, Indianapolis, NA Lease 03/01/94
Addendum 03/01/94
Memorandum of Lease 03/01/94
- --------------------------------------------------------------------------------------------------------------
29-124 Midwest Career College Lease 06/01/93
Addendum I 06/01/93
Beginning Tenant Allowance as adj. $4.80
- --------------------------------------------------------------------------------------------------------------
29-200 Unisys Corporation Lease 05/01/80
Memorandum of Lease Agreement
- --------------------------------------------------------------------------------------------------------------
EXHIBIT "D"
TO PURCHASE AGREEMENT
-6-
45
EQK REALTY INVESTORS I
DUE DILIGENCE LOG
EFFECTIVE
BLDG/STE TENANT DESCRIPTION DATE
- --------------------------------------------------------------------------------------------------------------
30-106 Comprehensive Insurance Mgrs. Lease 01/01/93
Addendum I 06/01/93
Sublease 04/26/94
Beginning Tenant Allowance as adj. $4.56
- --------------------------------------------------------------------------------------------------------------
30-120 CMS Management Lease 07/01/94
- --------------------------------------------------------------------------------------------------------------
30-121 Natl. Council on Comp. Ins. Lease 04/01/87
Amendment 04/01/87
Addendum II 09/01/89
Addendum III 04/01/90
Addendum IV 04/01/93
Beginning Tenant Allowance as adj. $3.50
- --------------------------------------------------------------------------------------------------------------
30-122 Joy Newby & Associates Lease 10/01/94
- --------------------------------------------------------------------------------------------------------------
30-131 Broadway Marketing, Inc. Lease 04/01/94
- --------------------------------------------------------------------------------------------------------------
30-203 Integrity Business Printing Lease 01/01/95
- --------------------------------------------------------------------------------------------------------------
30-204 Relcon, Inc. Lease 01/01/91
Addendum I 01/01/94
Beginning Tenant Allowance as adj. $4.08
- --------------------------------------------------------------------------------------------------------------
30-205 Geo. S. Olive & Co. Lease 10/01/92
(Innovative Consulting Services) Lease Assignment 02/01/95
Beginning Tenant Allowance as adj. $4.08
- --------------------------------------------------------------------------------------------------------------
30-210 Cutler-Hammer, Inc. Lease 11/01/94
Agreement for storage space 11/17/94
- --------------------------------------------------------------------------------------------------------------
30-130 Kroger Company Lease 08/01/80
30-212 Addendum I 12/01/87
30-218 Addendum II 08/01/88
31-160 Addendum III 11/01/88
Addendum IV 05/01/89
Addendum V 09/01/90
Addendum VI 09/01/90
Addendum VII 12/01/90
- --------------------------------------------------------------------------------------------------------------
32-135 Associated Insurance Cos. Lease 05/01/93
38-132
- --------------------------------------------------------------------------------------------------------------
32-141 ITT Educational Services Lease 07/01/92
Amendment 03/01/93
Beginning Tenant Allowance as adj. $2.02
- --------------------------------------------------------------------------------------------------------------
32-142 Tronitech, Inc. Lease 03/01/93
Beginning Tenant Allowance as adj. $1.92
- --------------------------------------------------------------------------------------------------------------
32-145 USAF, Inc. Lease 03/01/91
Addendum 03/01/91
Addendum I 02/28/91
Addendum II 05/01/94
Addendum III 03/01/93
Amendment 05/01/96
Addendum IV 08/01/95
- --------------------------------------------------------------------------------------------------------------
33-112 IRC Audio Lease 03/01/91
Beginning Tenant Allowance as adj. $1.43
- --------------------------------------------------------------------------------------------------------------
EXHIBIT "D"
TO PURCHASE AGREEMENT
-7-
46
EQK REALTY INVESTORS I
DUE DILIGENCE LOG
EFFECTIVE
BLDG/STE TENANT DESCRIPTION DATE
- --------------------------------------------------------------------------------------------------------------
33-117 IRC Music Lease 03/01/91
Addendum I 03/01/93
Addendum II 03/01/94
Addendum III 03/01/95
Beginning Tenant Allowance as adj. $1.43
- --------------------------------------------------------------------------------------------------------------
34-128 Bob Block Sports & Fitness Lease 10/01/93
Beginning Tenant Allowance as adj. $1.07
- --------------------------------------------------------------------------------------------------------------
35-100 Wesleyan Church Corporation Lease 08/01/95
Addendum I 08/01/95
- --------------------------------------------------------------------------------------------------------------
35-110 Chartwell Midwest Lease 05/01/93
Addendum 04/15/93
Beginning Tenant Allowance as adj. $1.36
- --------------------------------------------------------------------------------------------------------------
36-105 Earthtech, Inc. Lease 05/01/95
Addendum I 05/01/95
Addendum II 08/01/95
- --------------------------------------------------------------------------------------------------------------
36-109 Asplundh Tree Expert Company Lease 10/01/94
- --------------------------------------------------------------------------------------------------------------
37-106 AT Service Company Lease 09/01/89
(Society National Bank) Addendum I 09/01/94
- --------------------------------------------------------------------------------------------------------------
39-105 Icon, Inc. Lease 08/01/93
Addendum I 01/01/95
- --------------------------------------------------------------------------------------------------------------
39-191 Ind. Assoc. of School Principals Lease 07/01/92
Addendum I 09/01/94
- --------------------------------------------------------------------------------------------------------------
40-100 Castleway Management Corp. Lease 09/01/92
- --------------------------------------------------------------------------------------------------------------
40-108 G S Sales Lease 08/01/94
- --------------------------------------------------------------------------------------------------------------
40-109 HCI Lease 12/01/93
- --------------------------------------------------------------------------------------------------------------
40-110 CBAI Holding Company Lease 06/01/95
- --------------------------------------------------------------------------------------------------------------
40-120 Castleton Real Estate Group Lease 07/01/95
(Remax) Addendum I 07/01/95
- --------------------------------------------------------------------------------------------------------------
40-181 Aetna Casualty & Surety Co. Lease 11/01/92
(Exhibits A-1 thru J)
Amendment No. 1 01/01/94
Amendment No. 2 05/31/95
Subordination, Non-Disturbance Agreement
- --------------------------------------------------------------------------------------------------------------
40-403 Source Brokerage, Inc. Lease 05/01/95
- --------------------------------------------------------------------------------------------------------------
40-410 REV 2, Inc. Lease 09/01/95
- --------------------------------------------------------------------------------------------------------------
41-165 Ohio Casualty Insurance Co. Lease 06/01/88
Addendum I 07/01/88
Addendum II 07/01/93
Addendum III 07/01/95
Beginning Tenant Allowance as adj. $3.30
- --------------------------------------------------------------------------------------------------------------
41-175 McConnell-Monroe, Inc. Lease 11/01/94
- --------------------------------------------------------------------------------------------------------------
42-102 Flack Design, Inc. Lease 03/01/94
- --------------------------------------------------------------------------------------------------------------
42-104 Ink, Inc. Lease 06/01/94
- --------------------------------------------------------------------------------------------------------------
42-110 Independent Appraisals, Inc. Lease 07/01/92
Addendum I 05/01/94
Beginning Tenant Allowance as adj. $4.84
- --------------------------------------------------------------------------------------------------------------
42-112 Willey and Associates, Inc. Lease 07/01/94
- --------------------------------------------------------------------------------------------------------------
EXHIBIT "D"
TO PURCHASE AGREEMENT
-8-
47
EQK REALTY INVESTORS I
DUE DILIGENCE LOG
EFFECTIVE
BLDG/STE TENANT DESCRIPTION DATE
- --------------------------------------------------------------------------------------------------------------
42-113 Miles, Inc. Lease 02/01/91
(Mobay Corporation) Addendum I 10/01/91
Addendum II 02/01/94
Beginning Tenant Allowance as adj. $4.62
- --------------------------------------------------------------------------------------------------------------
42-120 Allison Secretarial, Inc. Lease 10/01/92
Addendum I 02/01/93
Addendum II 10/01/93
Addendum III 10/01/94
Addendum IV 11/01/94
Beginning Tenant Allowance as adj. $4.84
- --------------------------------------------------------------------------------------------------------------
42-121 FDIC Lease 04/01/95
- --------------------------------------------------------------------------------------------------------------
45-105 Ind. Oral & Maxillofacial Surgery Lease 07/01/95
- --------------------------------------------------------------------------------------------------------------
45-107 Philip D. Burroughs Lease 01/01/94
- --------------------------------------------------------------------------------------------------------------
45-110 Robert A. Lichtenauer Lease 02/01/94
- --------------------------------------------------------------------------------------------------------------
45-115 Castleton Orthodontics, Inc. Lease 03/01/94
- --------------------------------------------------------------------------------------------------------------
45-200 Castleton Oral & Maxi. Surgery Lease 11/01/93
- --------------------------------------------------------------------------------------------------------------
45-204 Jack Ellis Showley, D.D.S. Lease 12/01/94
- --------------------------------------------------------------------------------------------------------------
46-210 Associated Insurance Cos. Lease 07/01/91
48-115 Addendum II 03/01/93
- --------------------------------------------------------------------------------------------------------------
47-185 USAF, Inc. Lease 05/01/81
Amendment dated 05/01/81
Amendment dated 08/05/81
Amendment dated 09/24/82
Amendment dated 07/31/90
Amendment dated 07/10/92
Amendment dated 03/10/95
- --------------------------------------------------------------------------------------------------------------
49-111 The Art Source Lease 10/01/92
Addendum I 10/01/93
Beginning Tenant Allowance as adj. $2.61
- --------------------------------------------------------------------------------------------------------------
49-115 Great Clips, Inc. Lease 04/01/92
Beginning Tenant Allowance as adj. $2.70
- --------------------------------------------------------------------------------------------------------------
49-117 Webster Sporting Goods, Inc. Lease 10/01/93
Beginning Tenant Allowance as adj. $3.08
- --------------------------------------------------------------------------------------------------------------
49-121 Planned Parenthood Assoc. Lease 11/01/91
Beginning Tenant Allowance as adj. $2.33
- --------------------------------------------------------------------------------------------------------------
49-123 Walker Clinical Evaluations Lease 04/01/94
- --------------------------------------------------------------------------------------------------------------
EXHIBIT "D"
TO PURCHASE AGREEMENT
-9-
48
EQK REALTY INVESTORS I
DUE DILIGENCE LOG
EFFECTIVE
BLDG/STE TENANT DESCRIPTION DATE
- --------------------------------------------------------------------------------------------------------------
03-104 Walker Research, Inc. Lease 04/01/89
Addendum I 03/01/93
Addendum II 04/01/95
- --------------------------------------------------------------------------------------------------------------
07-213 Leg Spider Vein Clinic Lease 03/01/95
- --------------------------------------------------------------------------------------------------------------
08-101 Information Mgmt. Group Lease 10/01/95
- --------------------------------------------------------------------------------------------------------------
08-108 Interlogic Systems, Inc. Lease 07/01/94
Addendum I 07/01/95
- --------------------------------------------------------------------------------------------------------------
10-208 Henry P. Thompson Company Lease 09/01/95
- --------------------------------------------------------------------------------------------------------------
18-107 Controllership Group Lease 09/01/95
- --------------------------------------------------------------------------------------------------------------
18-114 PrimePay, Inc. Lease 12/01/91
(Payroll 1 of Indiana) Addendum I 01/01/93
Addendum II 10/01/95
Beginning Tenant Allowance as adj. $4.66
Lease 12/01/96
- --------------------------------------------------------------------------------------------------------------
21-139 Love, Inc. Lease 09/01/95
- --------------------------------------------------------------------------------------------------------------
26-150 Perry R. Meek Lease 09/01/95
- --------------------------------------------------------------------------------------------------------------
EXHIBIT "D"
TO PURCHASE AGREEMENT
-10-
49
EST. PPEL CERTIFICATE
_______________, 1995
K/B REALTY ADVISORS, INC.
c/o Koll - Investment Management Division
Sixty State Street
Boston, MA 02109
Attn.: Charles B. Lindwall
Senior Vice President
Gentlemen:
For the purposes of certifying, representing and warranting
information to: (i) K/B REALTY ADVISORS, INC. and (ii) its successors and
assigns ((i) and (ii) collectively, "Buyer") regarding the premises known as
_____________________________________________ Indianapolis, Indiana (the
"Premises") in which the undersigned is a lessee under that certain lease
agreement between _____________________________________ ("Lessee") and
____________________________________________ ("Lessor") and dated
__________________ (the "Lease"), the undersigned, in connection with Buyer's
or Buyer's assignee's acquisition of the Premises and the real property of
which they are a part, does with the intention that Buyer or Buyer's assignee
may fully rely hereon, represents, warrants and certifies that:
(1) A true and correct listing of the Lease, together with all amendments
and modifications thereof, is attached hereto as Exhibit "A" and
except as reflected there are no other agreements, oral or written, in
respect to the Lease, or Lessee's occupation of the leased Premises
subject to the Lease.
(2) (a) The date of commencement of the Lease term was:_______________
(b) The expiration of the term of the Lease is:___________________
(c) The only renewal options or options to extend this Lease are:
______________________________________________________________
(d) The only expansion options are:_______________________________
(e) The monthly base rental amount is:____________________________
(f) The base year or beginning expense amount is:_________________
(g) The real estate taxes/base year is:___________________________
(h) The security deposit held by Lessor is:_______________________
(3) Lessee does not have any rights of first refusal, purchase options, or
other rights to purchase the Premises or real property of which it is
a part.
(4) The Lease is in full force and effect and valid and enforceable
according to its terms against the Lessee and has not been modified or
supplemented either orally or in writing except as specified above.
Page one of two
EXHIBIT "E"
TO PURCHASE AGREEMENT
-1-
50
(5) The Lessee is a tenant in possession pursuant to the terms of the
Lease, the Lessee is open and doing business therein, and no existing
use by any other tenant violates the terms of the Lease.
(6) All rent, charges or other payments due the Lessor under the Lease
have been paid as of the date of this certification, and there has
been no prepayment of rent or other obligations more than thirty (30)
days in advance of the due date thereof.
(7) Lessor is not in default under any of the terms of the Lease nor has
any event occurred, which with the passage of time, notice, or both,
could constitute a default by Lessor under the Lease.
(8) The Lessee under the Lease has no claims, counterclaims, defenses or
set-offs against the Lessor arising from the Lease, nor is the Lessee
entitled to any concession, rebate, allowance or free rents for any
period after this certification.
(9) All contingencies to Lessee's obligations under the Lease and all
rights of Lessee to cancel or terminate the Lease, if any, have
expired or have been waived by Lessee.
(10) There has not been filed by or against Lessee a petition in
bankruptcy, voluntary or otherwise, any assignment for the benefit of
creditors, any petition seeking reorganization or arrangement under
the bankruptcy laws of the United States or any state thereof, or any
other action brought under said bankruptcy laws with respect to
Lessee.
(11) Lessee has not assigned its interest in the Lease nor has Lessee
sublet any portion of the Premises.
(12) Lessee has not received notice from any governmental entity or
instrumentality indicating that the Premises or the real property of
which the Premises are a part violate or fail to comply with any
governmental or judicial law, order, rule or regulation.
All provisions of the Lease are hereby ratified. Lessee understands that Buyer
may purchase the real property of which the Premises are a part and that such
purchase will be in material reliance on this certificate. This certificate
shall be binding upon Lessee, and shall inure to the benefit of the Buyer,
Lessor and both Buyer's and Lessor's respective successors and assigns and all
parties claiming through or under such persons or any of their successors or
assigns. Lessee further understands and acknowledges that a potential capital
source of Buyer may rely on this certificate as a material condition to the
funding of the purchase, and this certificate shall inure to the benefit of
such capital source and its successors and assigns. Lessee agrees to promptly
notify Buyer in writing (at the above address) of any material change in the
certifications, representations, or warranties set forth in this certificate.
LESSEE:
--------------------------------
By:
------------------------------------
------------------------------------
(Print Name) (Title)
Page two of two
EXHIBIT "E"
TO PURCHASE AGREEMENT
-2-
51
GRANT DEED
----------
[Title Company's Grant Deed to be Attached]
EXHIBIT "F"
TO PURCHASE AGREEMENT
52
DESCRIPTION OF REAL PROPERTY
LEGAL DESCRIPTION:
Parcel I (East Part of Castleton Commercial Park):
Part of the Southeast Quarter of Section 22, Township 17 North, Range 4 East in
Marion County, Indiana, described as follows:
Beginning at the Northwest corner of the Southeast Quarter of Section 22,
Township 17 North, Range 4 East; thence South 00 degrees 07 minutes 10 seconds
West (assumed bearing) on the West line thereof 259.83 feet; thence South 89
degrees 52 minutes 50 seconds East 35.64 feet to the True Beginning Point of
the real estate herein described on an East line of real estate conveyed to the
City of Indianapolis D.O.T. by a Warranty Deed recorded as Instrument #75-13337
in the Office of the Recorder of Marion County, Indiana; continuing thence
South 89 degrees 52 minutes 50 seconds East 563.96 feet to the Southerly
prolongation of the West line of a non-exclusive roadway easement described in
a grant recorded as Instrument #75-4800 in the Office of the Recorder of Marion
County, Indiana; thence North 00 degrees 07 minutes 10 seconds East on said
Southerly prolongation and West line 227.79 feet to the Southerly right-of-way
line of East 82nd Street on a curve having a radius length of 54,517.41 feet
which bears South 00 degrees 07 minutes 00.7 seconds East; thence Easterly on
said right-of-way line and curve to the right 54.00 feet to the West line of
real estate leased to Goodyear Tire and Rubber Company as described in a lease
recorded as Instrument #74-71954 in the Office of the Recorder of Marion
County, Indiana; thence South 00 degrees 7 minutes 10 seconds West on said West
line 299.74 feet to the Southwest corner thereof; thence South 89 degrees 52
minutes 50 seconds East on the South line of said leased real estate 100.11
feet to a point that is 753.71 feet North 90 degrees 00 minutes 00 seconds East
of the West line of said Southeast Quarter; thence South 00 degrees 07 minutes
10 seconds West parallel with said West line 5.13 feet to a point that is
338.29 feet South 00 degrees 07 minutes 10 seconds West of the North line of
said Southeast Quarter; thence South 90 degrees 00 minutes 00 seconds East
parallel with said North line 426.69 feet to a point that is 1180.40 feet North
90 degrees 00 minutes 00 seconds East of the West line of said Southeast
Quarter; thence North 00 degrees 07 minutes 10 seconds East parallel with said
West line 53.25 feet; thence North 90 degrees 00 minutes 00 seconds East
parallel with the North line of said Southeast Quarter 152.82 feet to the West
line of the Northeast Quarter of said Southeast Quarter; thence North 00
degrees 07 minutes 26 seconds East on said West line 285.04 feet to the
Northwest corner of the Northeast Quarter of said Southeast Quarter; thence
North 90 degrees 00 minutes 00 seconds East on the North line thereof 350.00
feet; thence South 00 degrees 07 minutes 26 seconds West parallel with the West
line of said Quarter Quarter 386.30 feet; thence South 90 degrees 00 minutes 00
seconds East parallel with the North line of said Quarter Quarter 226.04 feet
to the West line of Herrin's Addition to Castleton, as per plat thereof,
recorded in Plat Book 11, page 15 in the Office of the Recorder of Marion
County, Indiana; thence South 00 degrees 21 minutes 21 seconds West on said
West line 232.00 feet to a point that is 618.30 feet South 00 degrees 21
minutes 21 seconds West of the North line of said Southeast Quarter; thence
South 89 degrees 38 minutes 39 seconds East 229.50 feet to the Northwesterly
right-of-way line of the Norfolk & Western (formerly Lake Erie & Western)
Railroad; thence South 27 degrees 36 minutes 55 seconds West on said
right-of-way line 800.50 feet; thence South 27 degrees 35 minutes 05 second
West on said right-of-way line 1342.34 feet to the Northerly right-of-way line
of Interstate Highway I-465 as conveyed by a deed recorded as Instrument
#68-24425, in the Office of the Recorder of Marion County, Indiana; thence
North 81 degrees 02 minutes 41 seconds West on said Northerly right-of-way
(continued)
Page 1 of 4
EXHIBIT "1"
TO GRANT DEED
-1-
53
line 813.26 feet; thence North 58 degrees 47 minutes 04 seconds West on said
right-of-way line 314.80 feet; thence North 54 degrees 40 minutes 01 seconds
West on said right-of-way line 92.92 feet to the West line of said Southeast
Quarter; thence North 00 degrees 07 minutes 10 second East on said West line
840.98 feet to the Southwest corner of the Northwest Quarter of said Southeast
Quarter; thence North 89 degrees 49 minutes 43 seconds East on the South line
of said Quarter Quarter 493.49 feet; thence North 00 degrees 07 minutes 10
seconds East parallel with the West line of said Southeast Quarter 382.61 feet
to the South line of real estate described in a Quitclaim Deed recorded as
Instrument #76-51152 in the Office of the Recorder of Marion County, Indiana;
thence North 85 degrees 51 minutes 35 seconds West on said South line 458.48
feet to an East line of the real estate conveyed to the City of Indianapolis
per Instrument #75-13337; thence North 00 degrees 07 minutes 10 seconds East on
said East line 670.44 feet; thence North 53 degrees 59 minutes 08 seconds East
on an East line of said real estate 1.17 feet; thence North 00 degrees 48
minutes 32 seconds west on an East line of said real estate 18.60 feet (18.09
feet measured to the True Beginning Point.)
Except therefrom that part conveyed to McCready and Keene, Inc. by deed
recorded December 14, 1991 as Instrument #91-132112, to-wit:
Part of the South Half of the Southeast Quarter of Section 22, Township 17
North, Range 4 East, Lawrence Township, Marion County, Indiana, more
particularly described as follows:
Commencing at the Northwest corner of the South Half of the Southeast Quarter
of Section 22, Township 17 North, Range 4 East, Lawrence Township, Marion
County, Indiana; thence North 89 degrees 49 minutes 43 seconds East (assumed
bearing) 1200.35 feet to the North line thereof to the centerline of Castleway
Drive; thence South 00 degrees 07 minutes 10 seconds West 397.13 feet on said
centerline to the point of curvature of a tangent curve concave Westerly,
having a radius of 200.00 feet which bears North 89 degrees 52 minutes 50
seconds West from said point of curvature; thence Southwesterly along the arc
of said curve to the right a distance of 92.20 feet; thence North 89 degrees 49
minutes 43 seconds East 16.90 feet parallel with the North line of said South
Half to the Point of Beginning; thence continuing North 89 degrees 49 minutes
43 seconds East 283.53 feet parallel with the North line of said South half to
a PK Nail set at a point located 31 feet Northwesterly, as measured at right
angles to the Northwesterly right-of-way line of the former Norfolk and Western
Railroad; thence South 27 degrees 35 minutes 05 seconds West 468.05 feet
parallel with the right-of-way for said Railroad to a PK Nail set; thence North
62 degrees 24 minutes 55 seconds West 279.65 feet to the point of intersection
of a non-tangent curve, concave Northwesterly, having a radius of 214.00 feet
which bears North 32 degrees 25 minutes 06 seconds West from said point of
intersection; thence Northeasterly along the arc of said curve an arc distance
of 112.04 feet to the point
(Continued)
Page 2 of 4
EXHIBIT "1"
TO GRANT DEED
-2-
54
of tangency thereof; thence North 27 degrees 35 minutes 05 seconds East 217.48
feet to the point of curvature of a tangent curve, concave Westerly having a
radius of 214.00 feet which bears North 62 degrees 24 minutes 55 seconds West
from said point of curvature; thence Northeasterly along the arc of said curve
to the left an arc distance of 10.91 feet to the Point of Beginning.
Parcel II (West Part of Castleton Commercial Park):
Part of the Southwest Quarter of Section 22, Township 17 North, Range 4 East in
Marion County, Indiana, described as follows:
Beginning on the East line of the Southwest Quarter of Section 22, Township 17
North, Range 4 East 262.59 feet South 00 degrees 07 minutes 10 seconds West
(assumed bearing) from the Northeast corner thereof; continuing thence South 00
degrees 07 minutes 10 seconds West on said East line 1447.01 feet; thence North
89 degrees 52 minutest 50 seconds West 155.00 feet; thence North 00 degrees 07
minutes 10 seconds East parallel with the East line of said Southwest Quarter
205.00 feet; thence North 89 degrees 52 minutes 50 seconds West 30.00 feet;
thence North 00 degrees 07 minutes 10 seconds East 10.00 feet; thence North 36
degrees 47 minutes 35 seconds West 743.63 feet; thence South 18 degrees 07
minutes 27 seconds East 739.31 feet to a point that is 195.00 feet North 39
degrees 49 minutes 31 seconds East of the Northeasterly right-of-way line of
I-465; thence South 50 degrees 10 minutes 29 seconds East parallel with said
right-of-way line 70.00 feet; thence South 39 degrees 49 minutes 31 seconds
West 195.00 feet to said right-of-way line; thence North 50 degrees 10 minutes
29 seconds West on said right-of-way line 2569.98 feet to the South line of the
right-of-way widening for East 82nd Street bridge over I-465; thence North 74
degrees 03 minutes 11 seconds East on said right-of-way line 129.13 feet;
thence North 81 degrees 01 minutes 35 seconds East on said line 353.28 feet to
the East line of said right-of-way widening; thence North 00 degrees 37 minutes
57 seconds West on said East line 37.59 feet to the North line of said
Southwest Quarter; thence North 89 degrees 22 minutes 03 seconds East on said
North line 45.63 feet to a point that is 600.00 feet South 89 degrees 22
minutes 03 seconds West of the Northeast corner of the Northwest Quarter of
said Southwest Quarter; thence South 00 degrees 06 minutes 25 seconds West
parallel with the East line of the Northwest Quarter of said Southwest Quarter
227.80 feet; thence North 85 degrees 22 minutes 03 seconds East parallel with
the North line of said Southwest Quarter 600.00 feet to the East line of the
Northwest Quarter of said Southwest Quarter; thence South 00 degrees 06 minutes
25 seconds West on said East line 207.80 feet; thence North 89 degrees 22
minutes 03 seconds East parallel with the North line of said Southwest Quarter
300.00 feet; thence North 00 degrees 06 minutes 25 seconds East parallel with
the West line of the Northeast Quarter of said Southwest Quarter 205.60 feet to
a point that is 230.00 feet South 00 degrees 06 minutes 25 seconds West of the
North line of said Quarter Quarter; thence North 85 degrees 22 minutes 03
seconds East parallel with the
(Continued)
Page 3 of 4
EXHIBIT "1"
TO GRANT DEED
-3-
55
said North line 220.00 feet; thence North 00 degrees 06 minutes 25 seconds East
parallel with the West line of the Northeast Quarter of said Southwest Quarter
230.00 feet to a point on the North line of said Southwest Quarter which is
810.16 feet South 89 degrees 22 minutes 03 seconds West of the Northeast corner
thereof; thence North 89 degrees 22 minutes 03 seconds East on said North line
320.39 feet; thence South 00 degrees 07 minutes 10 seconds West parallel with
the East line of said Southwest Quarter 257.60 feet; thence North 89 degrees 22
minutes 03 seconds East parallel with the North line of said Quarter 180.00
feet; thence South 00 degrees 07 minutes 10 seconds West parallel with the East
line of said Quarter 4.99 feet; thence North 89 degrees 22 minutes 03 seconds
East parallel with the North line of said Quarter 265.45 feet to the Westerly
line of real estate conveyed to the City of Indianapolis Department of
Transportation by a Warranty Deed recorded as Instrument #73-57723 in the
Office of the Recorder of Marion County, Indiana; thence South 11 degrees 11
minutes 03 seconds East on said Westerly line 27.16 feet; thence South 35
degrees 07 minutes 45 second East 42.43 feet to the Easterly line of said real
estate; thence North 00 degrees 07 minutes 10 seconds East on said Easterly
line 61.67 feet to a point that is 262.59 feet South 00 degrees 07 minutes 10
seconds West of the North line of said Southwest Quarter; thence North 89
degrees 22 minutes 03 seconds East parallel with said North line 14.50 feet to
the Beginning Point.
Except therefrom that part conveyed to The Wesleyan Church Corporation by deed
recorded December 24, 1991 as Instrument #91-132118, to-wit:
Part of the Southwest Quarter of Section 22, Township 17 North, Range 4 East,
Lawrence Township, Marion County, Indiana, more particularly described as
follows: Commencing at the Northeast corner of the Southwest Quarter of Section
22, Township 17 North, Range 4 East; thence South 00 degrees 07 minutes 10
seconds West (assumed bearing) on and along the East line thereof 2179.30 feet
to the Northerly right-of-way line of Interstate Highway 465; thence North 54
degrees 37 minutes 11 seconds West on and along said right-of-way line 125.36
feet; thence North 50 degrees 10 minutes 29 seconds West on and along said
right-of-way line 479.00 feet to the Southeasterly corner of the real estate
described in a Corporate Warranty Deed recorded as Instrument #85-19064 in the
Office of the Recorder of Marion County, Indiana; thence North 39 degrees 49
minutes 31 seconds East 40.00 feet on the Easterly line of said Instrument
#85-19064 to a 5/8 inch rebar w/cap at the Point of Beginning of this
description; thence North 50 degrees 10 minutes 29 seconds West 1070.50 feet
parallel with the aforesaid Northerly right-of-way line for Interstate Highway
465 to a 5/8 inch rebar w/cap; thence North 39 degrees 49 minutes 31 second
East 155.00 feet; thence South 50 degrees 10 minutes 29 seconds East 1070.50
feet parallel with the aforesaid Northerly right-of-way line for Interstate
Highway 465 to a point which bears North 39 degrees 49 minutes 31 seconds East
155.00 feet from the point of beginning; thence South 39 degrees 49 minutes 31
seconds West 155.00 feet to the Point of Beginning.
Page 4 of 4
EXHIBIT "1"
TO GRANT DEED
-4-
56
ASSIGNMENT OF LEASES
This Assignment of Leases ("Assignment") is made in the County of
Marion, State of Indiana between EQK Realty Investors I, a Massachusetts
business trust ("Assignor"), and ______________, a ________________________
("Assignee"), who agree as follows:
RECITALS
A. Assignor is the lessor under the leases, more particularly
described on the attached Exhibit "1" ("Leases") for the property described on
the attached Exhibit "2".
B. Assignor desires to assign all of its right, title and
interest as Lessor under the Leases to Assignee. This Assignment is made
pursuant to that certain Purchase Agreement for Real Property and Escrow
Instructions dated November 16, 1995 between Assignor and K/B Realty Advisors,
Inc. (predecessor to Assignee) (the "Purchase Agreement"). Moreover, pursuant
to the terms of the Purchase Agreement, Assignor agreed to remain responsible
for certain obligations relating to the Leases as more particularly described
in the Purchase Agreement and the Lease Work And Reserve Agreement ("Lease
Work And Reserve Agreement") established pursuant to the terms of the Purchase
Agreement.
1. Assignment and Assumption. For value received,
Assignor assigns to Assignee all of Assignor's right, title and interest as
Lessor under the Leases. Assignee accepts the assignment and assumes and
agrees to perform (except as otherwise provided in the Purchase Agreement and
Lease Work And Reserve Agreement) all the obligations of Assignor as Lessor
under the Leases to the extent they accrue and are applicable for a period
beginning on or after the Effective Date of this Assignment including, without
limitation, all obligations and duties owed lessees with respect to security
deposits to the extent such security deposits have been transferred or
credited to Assignee pursuant to the provisions of the Purchase Agreement
defined below.
2. Assignee's Indemnification. Assignee shall indemnify,
defend and hold harmless Assignor and Assignor's employees, partners,
subsidiaries, parents, affiliates, shareholders, officers, directors,
attorneys, agents, and affiliates, and their predecessors, successors and
assigns, from and against all liabilities, claims, losses, actions, damages,
fines, costs, expenses, causes of actions and demands against them or any of
them arising out of, or in any way connected with, the Lessor's obligations
under the Leases to the extent they accrue and are applicable for a period
beginning on or after the Effective Date of this Assignment (except those
obligations for which Assignor shall remain responsible pursuant to the terms
of the Purchase Agreement and Lease Work And Reserve Agreement).
3. Assignor's Indemnification. Assignor shall indemnify,
defend and hold harmless Assignee and Assignee' s employees, partners,
subsidiaries, parents, affiliates, shareholders, officers, directors,
attorneys, agents, and affiliates and their predecessors,
EXHIBIT "G"
TO PURCHASE AGREEMENT
57
successors and assigns, from and against all liabilities, claims, losses,
actions, damages, fines, costs, expenses, causes of actions and demands
against them or any of them arising out of or in any way connected with the
Lessor's obligations under the Leases to the extent they accrue and are
applicable for a period before the Effective Date of this Assignment.
4. Effective Date. This Assignment shall be deemed
effective on the date ("Effective Date") the Closing (as defined in the
Purchase Agreement) has occurred.
5. Attorneys' Fees. In any action between the parties to
enforce any of the terms or provisions of this Assignment, the prevailing
party in the action shall be entitled to recover from the non-prevailing
party, in addition to damages, injunctive relief or other relief, its
reasonable costs and expenses, including, without limitation, costs and
reasonable attorneys' fees.
6. Successors and Assigns. This Assignment shall inure
to the benefit of the parties and their respective successors and assigns.
7. Severability. If any provision of this Assignment
shall be held invalid or unenforceable for any reason and to any extent, the
remainder of this Assignment shall not be affected, but shall be enforced to
the greatest extent permitted by law.
8. Merger. This Assignment, the Purchase Agreement, and
Lease Work And Reserve Agreement contain the entire understanding between the
parties relating to the subject matter of this Assignment.
All prior and contemporaneous agreements and understandings, whether oral or
written, are superseded by this Assignment.
"ASSIGNOR" "ASSIGNEE"
EQK REALTY INVESTORS I, a , a
Massachusetts business trust -------------------------
-------------------------
By: By:
---------------------- --------------------------
---------------------- --------------------------
(Print Name) (Title) (Print Name) (Title)
EXHIBIT "G"
TO PURCHASE AGREEMENT
58
DESCRIPTION OF LEASES
EQK REALTY INVESTORS I
DUE DILIGENCE LOG
EFFECTIVE
BLDG/STE TENANT DESCRIPTION DATE
- --------------------------------------------------------------------------------------------------------------
01-103 Indianapolis Church of Christ Lease 09/01/92
Proposal/Contract for Tenant Improv. 09/01/92
Addendum I 09/01/92
Addendum II 09/15/95
- --------------------------------------------------------------------------------------------------------------
02-125 Oscar, Inc. Lease (expired) 09/01/92
(New lease being negotiated) Addendum I 01/01/94
- --------------------------------------------------------------------------------------------------------------
03-108 Fairley and Company Lease 01/01/89
Addendum I 04/01/94
Addendum II 07/01/95
Beginning Tenant Allowance as adj. $2.73
- --------------------------------------------------------------------------------------------------------------
03-110 Marks A. Levy, Inc. Lease 03/01/93
Beginning Tenant Allowance as adj. $3.92
- --------------------------------------------------------------------------------------------------------------
04-190 Biosound Lease (expired) 05/01/90
(New lease being negotiated) Amortized rent per month thru 4/95 $1,035.19
Beginning Tenant Allowance as adj. $0.90
- --------------------------------------------------------------------------------------------------------------
05-101 Frakes Engineering Lease 04/01/89
Beginning Tenant Allowance as adj. $1.08
- --------------------------------------------------------------------------------------------------------------
06-102 Tronitech, Inc. Lease 01/01/93
- --------------------------------------------------------------------------------------------------------------
07-102 James R. Moore, CPA Lease 07/01/91
Addendum I 08/01/92
Addendum II 01/01/94
Beginning Tenant Allowance as adj. $4.17
- --------------------------------------------------------------------------------------------------------------
07-104 Mold Engineering, Inc. Lease 10/01/90
Addendum I 10/01/93
- --------------------------------------------------------------------------------------------------------------
07-106 Wigest Corporation Lease 08/01/92
Beginning Tenant Allowance as adj. $5.01
- --------------------------------------------------------------------------------------------------------------
07-108 Broadway Marketing, Inc. Lease 04/01/94
- --------------------------------------------------------------------------------------------------------------
07-204 High School B-Ball Cards Lease 09/01/92
Beginning Tenant Allowance as adj. $5.01
- --------------------------------------------------------------------------------------------------------------
07-205 ABB Power T&D Company Lease 04/01/91
Addendum I 04/01/94
Beginning Tenant Allowance as adj. $4.17
- --------------------------------------------------------------------------------------------------------------
07-209 Thomas W. Hasewinkel Lease 08/01/92
Addendum I 08/01/92
Addendum II 03/01/95
Beginning Tenant Allowance as adj. $5.01
- --------------------------------------------------------------------------------------------------------------
07-210 Jerome Modlik Lease 11/01/94
- --------------------------------------------------------------------------------------------------------------
07-211 L. David Vancil, D.D.S. Lease 06/01/94
Addendum I 06/01/94
Addendum II 06/01/94
- --------------------------------------------------------------------------------------------------------------
07-214 Birthwise/Tokos Medical Corp. Lease 03/01/92
Addendum I 03/01/95
Beginning Tenant Allowance as adj. $5.01
- --------------------------------------------------------------------------------------------------------------
08-100 John King Productions, Inc. Lease 08/01/95
- --------------------------------------------------------------------------------------------------------------
08-103 James A. Rupp Lease 10/01/94
- --------------------------------------------------------------------------------------------------------------
EXHIBIT "D" (10 pages)
EXHIBIT "1"
TO ASSIGNMENT OF LEASES
-1-
59
EQK REALTY INVESTORS I
DUE DILIGENCE LOG
EFFECTIVE
BLDG/STE TENANT DESCRIPTION DATE
- --------------------------------------------------------------------------------------------------------------
08-105 Krause's Wide World Serivces Lease 01/01/93
Addendum I 01/01/94
Addendum II 01/01/95
Beginning Tenant Allowance as adj. $5.09
- --------------------------------------------------------------------------------------------------------------
08-106 Accura Tax Service, Inc. Lease 07/01/95
- --------------------------------------------------------------------------------------------------------------
08-107 Esty Limited Liability Lease 12/01/92
Addendum I 12/01/93
Addendum II 03/01/94
Addendum III 12/01/94
Assignment of Lease 04/29/95
Beginning Tenant Allowance as adj. $5.09
- --------------------------------------------------------------------------------------------------------------
08-112 Acme Health Services, Inc. Lease 02/01/95
- --------------------------------------------------------------------------------------------------------------
08-120 Independent Order of Foresters Lease 01/01/86
Addendum I 01/01/91
Beginning Tenant Allowance as adj. $3.05
- --------------------------------------------------------------------------------------------------------------
08-130 Indiana Exchange, Inc. Lease 03/01/93
Addendum I 03/01/93
Beginning Tenant Allowance as adj. $5.28
- --------------------------------------------------------------------------------------------------------------
08-200 Heritage Indiana Medical Group Lease 05/01/95
Addendum I 05/01/95
- --------------------------------------------------------------------------------------------------------------
08-202 United Insurance Agencies Lease 01/01/93
Beginning Tenant Allowance as adj. $5.28
- --------------------------------------------------------------------------------------------------------------
08-203 Ronald K. Bowman, D.D.S. Lease 01/01/83
Addendum I 01/01/83
Addendum II 01/01/83
Addendum III 01/01/88
Addendum IV 01/01/93
- --------------------------------------------------------------------------------------------------------------
08-206 Enochs Manufacturing, Inc. Lease 04/01/91
Addendum I 04/01/94
Beginning Tenant Allowance as adj. $4.72
- --------------------------------------------------------------------------------------------------------------
08-215 Physicians Mutual Insurance Lease 04/01/91
Addendum I 04/01/93
Addendum II 04/01/95
Beginning Tenant Allowance as adj. $4.56
- --------------------------------------------------------------------------------------------------------------
09-104 Miller & Associates Lease 07/01/89
Addendum I 07/01/92
Beginning Tenant Allowance as adj. $4.01
- --------------------------------------------------------------------------------------------------------------
09-105 American Family Insurance Lease 12/01/92
Addendum I 06/01/93
Addendum II 12/01/93
Addendum III 12/01/94
Beginning Tenant Allowance as adj. $4.64
- --------------------------------------------------------------------------------------------------------------
09-106 Praxair, Inc. Lease 08/01/91
Addendum I 08/01/92
Addendum II 08/01/93
Addendum III 08/01/94
Addendum IV 08/01/95
Beginning Tenant Allowances as adj. $4.20
- --------------------------------------------------------------------------------------------------------------
EXHIBIT "1"
TO ASSIGNMENT OF LEASES
-2-
60
EQK REALTY INVESTORS I
DUE DILIGENCE LOG
EFFECTIVE
BLDG/STE TENANT DESCRIPTION DATE
- --------------------------------------------------------------------------------------------------------------
09-107 IARCC Lease 11/01/90
Addendum I 11/01/93
Beginning Tenant Allowance as adj. $4.20
- --------------------------------------------------------------------------------------------------------------
09-108 Pro-Mark, Inc. Lease 10/01/94
- --------------------------------------------------------------------------------------------------------------
09-110 Norton Company Lease 02/01/93
Beginning Tenant Allowance as adj. $4.88
- --------------------------------------------------------------------------------------------------------------
09-112 Woodmen Accident & Life Lease 05/01/94
- --------------------------------------------------------------------------------------------------------------
09-113 The Reynolds & Reynolds Co. Lease 03/01/89
Addendum I 03/01/92
Addendum II 03/01/94
Beginning Tenant Allowance as adj. $3.91
- --------------------------------------------------------------------------------------------------------------
09-115 Independent Order of Foresters Lease 05/01/94
- --------------------------------------------------------------------------------------------------------------
09-202 Foundation Property Mgmt. Lease 10/01/94
- --------------------------------------------------------------------------------------------------------------
09-206 Marks A. Levy, Inc. Lease 10/01/93
- --------------------------------------------------------------------------------------------------------------
09-209 Indy Lube Service, Inc. Lease 10/01/94
- --------------------------------------------------------------------------------------------------------------
09-210 William C. Teilman, D.D.S. Lease 01/01/95
- --------------------------------------------------------------------------------------------------------------
09-216 Marybeth Brandt, D.D.S. Lease 11/01/94
- --------------------------------------------------------------------------------------------------------------
10-100 Equity Financial Services, Inc. Lease 03/01/95
Addendum I 05/01/95
- --------------------------------------------------------------------------------------------------------------
10-102 Lawrence C. Arany Lease 03/01/92
Addendum I 03/01/94
Addendum II 10/01/94
Beginning Tenant Allowance as adj. $4.64
- --------------------------------------------------------------------------------------------------------------
10-104 John C. Wolbert Lease 03/01/95
- --------------------------------------------------------------------------------------------------------------
10-109 James L. Hunter Lease 07/01/93
Addendum I 02/01/94
Addendum II 01/01/95
Beginning Tenant Allowance as adj. $4.83
- --------------------------------------------------------------------------------------------------------------
10-110 Robert Bak C. Shin, M.D. Lease 01/01/92
Addendum I 09/01/92
Beginning Tenant Allowance as adj. $4.64
- --------------------------------------------------------------------------------------------------------------
10-111 Richard J. Moore Lease 07/01/94
- --------------------------------------------------------------------------------------------------------------
10-112 Fame, Inc. Lease 10/01/93
Beginning Tenant Allowance as adj. $4.83
- --------------------------------------------------------------------------------------------------------------
10-115 Vulcraft Sales Corporation Lease 03/01/89
(Was 26-114) Addendum I 03/01/92
Addendum II 03/01/95
Beginning Tenant Allowance as adj. $5.70
- --------------------------------------------------------------------------------------------------------------
10-204 ATMS Lease 12/01/93
- --------------------------------------------------------------------------------------------------------------
10-207 Executive Strategies, Inc. Lease 05/01/93
Addendum I 05/01/93
Addendum II 10/01/94
Addendum III 05/01/95
Beginning Tenant Allowance as adj. $4.83
- --------------------------------------------------------------------------------------------------------------
EXHIBIT "1"
TO ASSIGNMENT OF LEASES
-3-
61
EQK REALTY INVESTORS I
DUE DILIGENCE LOG
EFFECTIVE
BLDG/STE TENANT DESCRIPTION DATE
- --------------------------------------------------------------------------------------------------------------
10-209 Christian Medical & Dental Soc. Lease 01/01/91
Addendum I 01/01/92
Addendum II 01/01/93
Addendum III 01/01/94
Addendum IV 01/01/95
Beginning Tenant Allowance as adj. $4.16
- --------------------------------------------------------------------------------------------------------------
10-212 Veda, Inc. Lease 02/01/95
Addendum I 03/01/95
- --------------------------------------------------------------------------------------------------------------
11-118 King, Reiman, Skaggs Insurance Lease 11/01/91
Beginning Tenant Allowance as adj. $3.61
- --------------------------------------------------------------------------------------------------------------
11-120 Metropolitan Property & Casualty Lease 11/01/92
Addendum (Tenant Impr.) 11/01/92
Beginning Tenant Allowance as adj. $3.61
- --------------------------------------------------------------------------------------------------------------
12-105 Technetics, Inc. Lease 04/01/95
- --------------------------------------------------------------------------------------------------------------
12-109 Rue Educational Publishers Lease 07/01/93
Beginning Tenant Allowance as adj. $4.54
- --------------------------------------------------------------------------------------------------------------
14-102 Ito & Koby Dental Studio Lease 12/01/93
Addendum I 12/01/93
- --------------------------------------------------------------------------------------------------------------
14-108 Technetics, Inc. Lease 11/01/89
Addendum I 12/01/93
Addendum II 11/01/94
Beginning Tenant Allowance as adj. $1.29
- --------------------------------------------------------------------------------------------------------------
15-400 USAF, Inc. Lease 07/01/87
Addendum 07/01/87
Addendum II 09/01/87
Addendum III 09/01/89
Addendum IV 10/01/89
Addendum V 10/01/90
Addendum VI 08/01/92
Addendum VII 05/01/96
- --------------------------------------------------------------------------------------------------------------
16-140 Arbor Office Suites Lease 11/01/94
- --------------------------------------------------------------------------------------------------------------
17-130 SAIC Lease 03/01/89
Addendum I 06/14/89
Addendum II 10/01/89
Addendum III 03/01/94
Addendum IV 01/01/95
Beginning Tenant Allowance as adj. $2.87
- --------------------------------------------------------------------------------------------------------------
17-140 Arbor Express Lease 06/01/94
- --------------------------------------------------------------------------------------------------------------
18-104 Trident Foods, Inc. Lease 12/01/92
Addendum I 05/01/94
Beginning Tenant Allowance as adj. $5.34
- --------------------------------------------------------------------------------------------------------------
18-105 Northstar Telecommunications Lease 11/01/94
Addendum I 04/01/95
- --------------------------------------------------------------------------------------------------------------
18-108 Tom Harris & Associates Lease 08/01/95
- --------------------------------------------------------------------------------------------------------------
18-200 United Parcel Service, Inc. Lease 12/01/94
- --------------------------------------------------------------------------------------------------------------
EXHIBIT "1"
TO ASSIGNMENT OF LEASES
-4-
62
EQK REALTY INVESTORS I
DUE DILIGENCE LOG
EFFECTIVE
BLDG/STE TENANT DESCRIPTION DATE
- --------------------------------------------------------------------------------------------------------------
19-150 Earl Grissmer Company, Inc. Lease 09/01/76
(Blue Lustre Home Care Prod.) Consent to Assignment 09/01/76
Agreement/Right of First Refusal (Que) 09/01/82
Addendum 02/14/83
Rider Number Two 08/01/76
Rider Number Three 02/01/78
Rider Number Four 02/01/82
Rider Number Five 03/01/83
Rider Number Six 03/01/83
Rider Number Seven 01/15/84
Rider VIII 08/01/86
Rider IX 08/01/91
- --------------------------------------------------------------------------------------------------------------
19-160 Groundwater Technology, Inc. Lease 01/01/94
Addendum I 01/01/94
Addendum II 02/01/95
- --------------------------------------------------------------------------------------------------------------
21-104 Helena Chemical Company Lease 08/01/92
Addendum I 03/01/94
Addendum II 10/01/94
Beginning Tenant Allowance as adj. $4.80
- --------------------------------------------------------------------------------------------------------------
21-110 GLA Collection Co., Inc. Lease 04/01/95
- --------------------------------------------------------------------------------------------------------------
21-115 Redding - Troy Insurance Lease 07/01/92
Beginning Tenant Allowance as adj. $4.80
- --------------------------------------------------------------------------------------------------------------
21-117 Sherwin-Williams Company Lease 02/01/92
Beginning Tenant Allowance as adj. $4.80
- --------------------------------------------------------------------------------------------------------------
21-120 VRG International Lease 04/01/95
Addendum I 04/01/95
Addendum II 05/01/95
- --------------------------------------------------------------------------------------------------------------
21-121 Specialty Sales, Inc. Lease 01/01/95
Addendum I 01/01/95
- --------------------------------------------------------------------------------------------------------------
21-127 Promise Keepers Lease 06/01/94
- --------------------------------------------------------------------------------------------------------------
21-130 Terstep Recreation Co. Lease 04/01/90
(Trotmar, Inc.) Assignment of Lease 04/01/90
Addendum I 04/01/93
Agreement for storage space 05/12/94
Beginning Tenant Allowance as adj. $4.16
- --------------------------------------------------------------------------------------------------------------
21-139 Love, Inc. Lease 09/01/92
Addendum I 09/01/93
Addendum II 09/01/94
Beginning Tenant Allowance as adj. $4.80
- --------------------------------------------------------------------------------------------------------------
21-141 Charles E. Hill & Associates Lease 12/01/91
Addendum I 12/01/92
Addendum II 06/01/93
Addendum III 12/01/93
Addendum IV 12/01/94
Beginning Tenant Allowance as adj. $4.45
- --------------------------------------------------------------------------------------------------------------
21-200 USA Group, Inc. Lease 05/01/95
Addendum I 05/01/95
- --------------------------------------------------------------------------------------------------------------
21-210 Mitchum, Jones & Templeton Lease 05/01/94
- --------------------------------------------------------------------------------------------------------------
EXHIBIT "1"
TO ASSIGNMENT OF LEASES
-5-
63
EQK REALTY INVESTORS I
DUE DILIGENCE LOG
EFFECTIVE
BLDG/STE TENANT DESCRIPTION DATE
- --------------------------------------------------------------------------------------------------------------
22-110 Conner Insurance Agency Lease 10/01/87
Addendum I 10/01/92
Addendum II 09/01/94
Beginning Tenant Allowance as adj. $3.12
- --------------------------------------------------------------------------------------------------------------
22-120 Jere V. Horwitz & Assoc. Lease 05/01/94
- --------------------------------------------------------------------------------------------------------------
24-105 Unisys Corporation Lease 09/01/77
Admendment 11/01/77
Sublease Agreement 03/01/93
- --------------------------------------------------------------------------------------------------------------
26-111 Kenai Ltd., Inc. Lease 08/01/95
(James Murphy)
- --------------------------------------------------------------------------------------------------------------
26-112 Comarco Lease 08/01/94
Addendum I 05/01/95
- --------------------------------------------------------------------------------------------------------------
26-115 Patricia Boer Lease 02/01/92
Addendum I 02/01/93
Addendum II 02/01/94
Addendum III 02/01/95
Beginning Tenant Allowance as adj. $5.01
- --------------------------------------------------------------------------------------------------------------
26-118 Star Benefit Associates, Inc. Lease 04/01/95
- --------------------------------------------------------------------------------------------------------------
26-119 Health Shared Services Lease 07/01/95
- --------------------------------------------------------------------------------------------------------------
26-120 Castleton Family Physicians Lease 08/01/92
- --------------------------------------------------------------------------------------------------------------
26-127 Interim Personnel Lease 08/01/95
- --------------------------------------------------------------------------------------------------------------
26-128 Fritzsche & Associates Lease 07/01/93
Addendum I 07/01/93
Addendum II 10/01/93
Beginning Tenant Allowance as adj. $5.18
- --------------------------------------------------------------------------------------------------------------
26-130 Benefit Trust Life Insurance Lease 12/01/92
- --------------------------------------------------------------------------------------------------------------
26-134 Thorn Apple Valley Lease 05/01/90
Addendum I 05/01/93
Lease Assignment 05/30/95
Beginning Tenant Allowance as adj. $4.37
- --------------------------------------------------------------------------------------------------------------
26-200 Federated Mutual Insurance Lease 06/01/95
Addendum I 06/01/95
Lease Abstract
- --------------------------------------------------------------------------------------------------------------
26-232 Heartland Financial Services Lease 05/01/94
Addendum I 06/01/94
- --------------------------------------------------------------------------------------------------------------
27-200 Radio Indianapolis, Inc Lease 07/01/94
(WFMS) Addendum I 07/01/94
- --------------------------------------------------------------------------------------------------------------
29-105 Intergraph Corporation Lease 06/01/95
- --------------------------------------------------------------------------------------------------------------
29-110 Apple American of Indiana Lease 09/01/95
- --------------------------------------------------------------------------------------------------------------
29-112 Bank One, Indianapolis, NA Lease 03/01/94
Addendum 03/01/94
Memorandum of Lease 03/01/94
- --------------------------------------------------------------------------------------------------------------
29-124 Midwest Career College Lease 06/01/93
Addendum I 06/01/93
Beginning Tenant Allowance as adj. $4.80
- --------------------------------------------------------------------------------------------------------------
29-200 Unisys Corporation Lease 05/01/80
Memorandum of Lease Agreement
- --------------------------------------------------------------------------------------------------------------
EXHIBIT "1"
TO ASSIGNMENT OF LEASES
-6-
64
EQK REALTY INVESTORS I
DUE DILIGENCE LOG
EFFECTIVE
BLDG/STE TENANT DESCRIPTION DATE
- --------------------------------------------------------------------------------------------------------------
30-106 Comprehensive Insurance Mgrs. Lease 01/01/93
Addendum I 06/01/93
Sublease 04/26/94
Beginning Tenant Allowance as adj. $4.56
- --------------------------------------------------------------------------------------------------------------
30-120 CMS Management Lease 07/01/94
- --------------------------------------------------------------------------------------------------------------
30-121 Natl. Council on Comp. Ins. Lease 04/01/87
Amendment 04/01/87
Addendum II 09/01/89
Addendum III 04/01/90
Addendum IV 04/01/93
Beginning Tenant Allowance as adj. $3.50
- --------------------------------------------------------------------------------------------------------------
30-122 Joy Newby & Associates Lease 10/01/94
- --------------------------------------------------------------------------------------------------------------
30-131 Broadway Marketing, Inc. Lease 04/01/94
- --------------------------------------------------------------------------------------------------------------
30-203 Integrity Business Printing Lease 01/01/95
- --------------------------------------------------------------------------------------------------------------
30-204 Relcon, Inc. Lease 01/01/91
Addendum I 01/01/94
Beginning Tenant Allowance as adj. $4.08
- --------------------------------------------------------------------------------------------------------------
30-205 Geo. S. Olive & Co. Lease 10/01/92
(Innovative Consulting Services) Lease Assignment 02/01/95
Beginning Tenant Allowance as adj. $4.08
- --------------------------------------------------------------------------------------------------------------
30-210 Cutler-Hammer, Inc. Lease 11/01/94
Agreement for storage space 11/17/94
- --------------------------------------------------------------------------------------------------------------
30-130 Kroger Company Lease 08/01/80
30-212 Addendum I 12/01/87
30-218 Addendum II 08/01/88
31-160 Addendum III 11/01/88
Addendum IV 05/01/89
Addendum V 09/01/90
Addendum VI 09/01/90
Addendum VII 12/01/90
- --------------------------------------------------------------------------------------------------------------
32-135 Associated Insurance Cos. Lease 05/01/93
38-132
- --------------------------------------------------------------------------------------------------------------
32-141 ITT Educational Services Lease 07/01/92
Amendment 03/01/93
Beginning Tenant Allowance as adj. $2.02
- --------------------------------------------------------------------------------------------------------------
32-142 Tronitech, Inc. Lease 03/01/93
Beginning Tenant Allowance as adj. $1.92
- --------------------------------------------------------------------------------------------------------------
32-145 USAF, Inc. Lease 03/01/91
Addendum 03/01/91
Addendum I 02/28/91
Addendum II 05/01/94
Addendum III 03/01/93
Amendment 05/01/96
Addendum IV 08/01/95
- --------------------------------------------------------------------------------------------------------------
33-112 IRC Audio Lease 03/01/91
Beginning Tenant Allowance as adj. $1.43
- --------------------------------------------------------------------------------------------------------------
EXHIBIT "1"
TO ASSIGNMENT OF LEASES
-7-
65
EQK REALTY INVESTORS I
DUE DILIGENCE LOG
EFFECTIVE
BLDG/STE TENANT DESCRIPTION DATE
- --------------------------------------------------------------------------------------------------------------
33-117 IRC Music Lease 03/01/91
Addendum I 03/01/93
Addendum II 03/01/94
Addendum III 03/01/95
Beginning Tenant Allowance as adj. $1.43
- --------------------------------------------------------------------------------------------------------------
34-128 Bob Block Sports & Fitness Lease 10/01/93
Beginning Tenant Allowance as adj. $1.07
- --------------------------------------------------------------------------------------------------------------
35-100 Wesleyan Church Corporation Lease 08/01/95
Addendum I 08/01/95
- --------------------------------------------------------------------------------------------------------------
35-110 Chartwell Midwest Lease 05/01/93
Addendum 04/15/93
Beginning Tenant Allowance as adj. $1.36
- --------------------------------------------------------------------------------------------------------------
36-105 Earthtech, Inc. Lease 05/01/95
Addendum I 05/01/95
Addendum II 08/01/95
- --------------------------------------------------------------------------------------------------------------
36-109 Asplundh Tree Expert Company Lease 10/01/94
- --------------------------------------------------------------------------------------------------------------
37-106 AT Service Company Lease 09/01/89
(Society National Bank) Addendum I 09/01/94
- --------------------------------------------------------------------------------------------------------------
39-105 Icon, Inc. Lease 08/01/93
Addendum I 01/01/95
- --------------------------------------------------------------------------------------------------------------
39-191 Ind. Assoc. of School Principals Lease 07/01/92
Addendum I 09/01/94
- --------------------------------------------------------------------------------------------------------------
40-100 Castleway Management Corp. Lease 09/01/92
- --------------------------------------------------------------------------------------------------------------
40-108 G S Sales Lease 08/01/94
- --------------------------------------------------------------------------------------------------------------
40-109 HCI Lease 12/01/93
- --------------------------------------------------------------------------------------------------------------
40-110 CBAI Holding Company Lease 06/01/95
- --------------------------------------------------------------------------------------------------------------
40-120 Castleton Real Estate Group Lease 07/01/95
(Remax) Addendum I 07/01/95
- --------------------------------------------------------------------------------------------------------------
40-181 Aetna Casualty & Surety Co. Lease 11/01/92
(Exhibits A-1 thru J)
Amendment No. 1 01/01/94
Amendment No. 2 05/31/95
Subordination, Non-Disturbance Agreement
- --------------------------------------------------------------------------------------------------------------
40-403 Source Brokerage, Inc. Lease 05/01/95
- --------------------------------------------------------------------------------------------------------------
40-410 REV 2, Inc. Lease 09/01/95
- --------------------------------------------------------------------------------------------------------------
41-165 Ohio Casualty Insurance Co. Lease 06/01/88
Addendum I 07/01/88
Addendum II 07/01/93
Addendum III 07/01/95
Beginning Tenant Allowance as adj. $3.30
- --------------------------------------------------------------------------------------------------------------
41-175 McConnell-Monroe, Inc. Lease 11/01/94
- --------------------------------------------------------------------------------------------------------------
42-102 Flack Design, Inc. Lease 03/01/94
- --------------------------------------------------------------------------------------------------------------
42-104 Ink, Inc. Lease 06/01/94
- --------------------------------------------------------------------------------------------------------------
42-110 Independent Appraisals, Inc. Lease 07/01/92
Addendum I 05/01/94
Beginning Tenant Allowance as adj. $4.84
- --------------------------------------------------------------------------------------------------------------
42-112 Willey and Associates, Inc. Lease 07/01/94
- --------------------------------------------------------------------------------------------------------------
EXHIBIT "1"
TO ASSIGNMENT OF LEASES
-8-
66
EQK REALTY INVESTORS I
DUE DILIGENCE LOG
EFFECTIVE
BLDG/STE TENANT DESCRIPTION DATE
- --------------------------------------------------------------------------------------------------------------
42-113 Miles, Inc. Lease 02/01/91
(Mobay Corporation) Addendum I 10/01/91
Addendum II 02/01/94
Beginning Tenant Allowance as adj. $4.62
- --------------------------------------------------------------------------------------------------------------
42-120 Allison Secretarial, Inc. Lease 10/01/92
Addendum I 02/01/93
Addendum II 10/01/93
Addendum III 10/01/94
Addendum IV 11/01/94
Beginning Tenant Allowance as adj. $4.84
- --------------------------------------------------------------------------------------------------------------
42-121 FDIC Lease 04/01/95
- --------------------------------------------------------------------------------------------------------------
45-105 Ind. Oral & Maxillofacial Surgery Lease 07/01/95
- --------------------------------------------------------------------------------------------------------------
45-107 Philip D. Burroughs Lease 01/01/94
- --------------------------------------------------------------------------------------------------------------
45-110 Robert A. Lichtenauer Lease 02/01/94
- --------------------------------------------------------------------------------------------------------------
45-115 Castleton Orthodontics, Inc. Lease 03/01/94
- --------------------------------------------------------------------------------------------------------------
45-200 Castleton Oral & Maxi. Surgery Lease 11/01/93
- --------------------------------------------------------------------------------------------------------------
45-204 Jack Ellis Showley, D.D.S. Lease 12/01/94
- --------------------------------------------------------------------------------------------------------------
46-210 Associated Insurance Cos. Lease 07/01/91
48-115 Addendum II 03/01/93
- --------------------------------------------------------------------------------------------------------------
47-185 USAF, Inc. Lease 05/01/81
Amendment dated 05/01/81
Amendment dated 08/05/81
Amendment dated 09/24/82
Amendment dated 07/31/90
Amendment dated 07/10/92
Amendment dated 03/10/95
- --------------------------------------------------------------------------------------------------------------
49-111 The Art Source Lease 10/01/92
Addendum I 10/01/93
Beginning Tenant Allowance as adj. $2.61
- --------------------------------------------------------------------------------------------------------------
49-115 Great Clips, Inc. Lease 04/01/92
Beginning Tenant Allowance as adj. $2.70
- --------------------------------------------------------------------------------------------------------------
49-117 Webster Sporting Goods, Inc. Lease 10/01/93
Beginning Tenant Allowance as adj. $3.08
- --------------------------------------------------------------------------------------------------------------
49-121 Planned Parenthood Assoc. Lease 11/01/91
Beginning Tenant Allowance as adj. $2.33
- --------------------------------------------------------------------------------------------------------------
49-123 Walker Clinical Evaluations Lease 04/01/94
- --------------------------------------------------------------------------------------------------------------
EXHIBIT "1"
TO ASSIGNMENT OF LEASES
-9-
67
EQK REALTY INVESTORS I
DUE DILIGENCE LOG
EFFECTIVE
BLDG/STE TENANT DESCRIPTION DATE
- --------------------------------------------------------------------------------------------------------------
03-104 Walker Research, Inc. Lease 04/01/89
Addendum I 03/01/93
Addendum II 04/01/95
- --------------------------------------------------------------------------------------------------------------
07-213 Leg Spider Vein Clinic Lease 03/01/95
- --------------------------------------------------------------------------------------------------------------
08-101 Information Mgmt. Group Lease 10/01/95
- --------------------------------------------------------------------------------------------------------------
08-108 Interlogic Systems, Inc. Lease 07/01/94
Addendum I 07/01/95
- --------------------------------------------------------------------------------------------------------------
10-208 Henry P. Thompson Company Lease 09/01/95
- --------------------------------------------------------------------------------------------------------------
18-107 Controllership Group Lease 09/01/95
- --------------------------------------------------------------------------------------------------------------
18-114 PrimePay, Inc. Lease 12/01/91
(Payroll 1 of Indiana) Addendum I 01/01/93
Addendum II 10/01/95
Beginning Tenant Allowance as adj. $4.66
Lease 12/01/96
- --------------------------------------------------------------------------------------------------------------
21-139 Love, Inc. Lease 09/01/95
- --------------------------------------------------------------------------------------------------------------
26-150 Perry R. Meek Lease 09/01/95
- --------------------------------------------------------------------------------------------------------------
EXHIBIT "1"
TO ASSIGNMENT OF LEASES
-10-
68
LEGAL DESCRIPTION OF THE REAL PROPERTY
LEGAL DESCRIPTION:
Parcel I (East Part of Castleton Commercial Park):
Part of the Southeast Quarter of Section 22, Township 17 North, Range 4 East in
Marion County, Indiana, described as follows:
Beginning at the Northwest corner of the Southeast Quarter of Section 22,
Township 17 North, Range 4 East; thence South 00 degrees 07 minutes 10 seconds
West (assumed bearing) on the West line thereof 259.83 feet; thence South 89
degrees 52 minutes 50 seconds East 35.64 feet to the True Beginning Point of
the real estate herein described on an East line of real estate conveyed to the
City of Indianapolis D.O.T. by a Warranty Deed recorded as Instrument #75-13337
in the Office of the Recorder of Marion County, Indiana; continuing thence
South 89 degrees 52 minutes 50 seconds East 563.96 feet to the Southerly
prolongation of the West line of a non-exclusive roadway easement described in
a grant recorded as Instrument #75-4800 in the Office of the Recorder of Marion
County, Indiana; thence North 00 degrees 07 minutes 10 seconds East on said
Southerly prolongation and West line 227.79 feet to the Southerly right-of-way
line of East 82nd Street on a curve having a radius length of 54,517.41 feet
which bears South 00 degrees 07 minutes 00.7 seconds East; thence Easterly on
said right-of-way line and curve to the right 54.00 feet to the West line of
real estate leased to Goodyear Tire and Rubber Company as described in a lease
recorded as Instrument #74-71954 in the Office of the Recorder of Marion
County, Indiana; thence South 00 degrees 7 minutes 10 seconds West on said West
line 299.74 feet to the Southwest corner thereof; thence South 89 degrees 52
minutes 50 seconds East on the South line of said leased real estate 100.11
feet to a point that is 753.71 feet North 90 degrees 00 minutes 00 seconds East
of the West line of said Southeast Quarter; thence South 00 degrees 07 minutes
10 seconds West parallel with said West line 5.13 feet to a point that is
338.29 feet South 00 degrees 07 minutes 10 seconds West of the North line of
said Southeast Quarter; thence South 90 degrees 00 minutes 00 seconds East
parallel with said North line 426.69 feet to a point that is 1180.40 feet North
90 degrees 00 minutes 00 seconds East of the West line of said Southeast
Quarter; thence North 00 degrees 07 minutes 10 seconds East parallel with said
West line 53.25 feet; thence North 90 degrees 00 minutes 00 seconds East
parallel with the North line of said Southeast Quarter 152.82 feet to the West
line of the Northeast Quarter of said Southeast Quarter; thence North 00
degrees 07 minutes 26 seconds East on said West line 285.04 feet to the
Northwest corner of the Northeast Quarter of said Southeast Quarter; thence
North 90 degrees 00 minutes 00 seconds East on the North line thereof 350.00
feet; thence South 00 degrees 07 minutes 26 seconds West parallel with the West
line of said Quarter Quarter 386.30 feet; thence South 90 degrees 00 minutes 00
seconds East parallel with the North line of said Quarter Quarter 226.04 feet
to the West line of Herrin's Addition to Castleton, as per plat thereof,
recorded in Plat Book 11, page 15 in the Office of the Recorder of Marion
County, Indiana; thence South 00 degrees 21 minutes 21 seconds West on said
West line 232.00 feet to a point that is 618.30 feet South 00 degrees 21
minutes 21 seconds West of the North line of said Southeast Quarter; thence
South 89 degrees 38 minutes 39 seconds East 229.50 feet to the Northwesterly
right-of-way line of the Norfolk & Western (formerly Lake Erie & Western)
Railroad; thence South 27 degrees 36 minutes 55 seconds West on said
right-of-way line 800.50 feet; thence South 27 degrees 35 minutes 05 seconds
West on said right-of-way line 1342.34 feet to the Northerly right-of-way line
of Interstate Highway I-465 as conveyed by a deed recorded as Instrument
#68-24425, in the Office of the Recorder of Marion County, Indiana; thence
North 81 degrees 02 minutes 41 seconds West on said Northerly right-of-way
(Continued)
Page 1 of 4
EXHIBIT "2"
TO ASSIGNMENT OF LEASES
-1-
69
line 813.26 feet; thence North 58 degrees 47 minutes 04 seconds West on said
right-of-way line 314.80 feet; thence North 54 degrees 40 minutes 01 seconds
West on said right-of-way line 92.92 feet to the West line of said Southeast
Quarter; thence North 00 degrees 07 minutes 10 second East on said West line
840.98 feet to the Southwest corner of the Northwest Quarter of said Southeast
Quarter; thence North 89 degrees 49 minutes 43 seconds East on the South line
of said Quarter Quarter 493.49 feet; thence North 00 degrees 07 minutes 10
seconds East parallel with the West line of said Southeast Quarter 382.61 feet
to the South line of real estate described in a Quitclaim Deed recorded as
Instrument #76-51152 in the Office of the Recorder of Marion County, Indiana;
thence North 89 degrees 51 minutes 35 seconds West on said South line 458.48
feet to an East line of the real estate conveyed to the City of Indianapolis
per Instrument #75-13337; thence North 00 degrees 07 minutes 10 seconds East on
said East line 670.44 feet; thence North 53 degrees 59 minutes 08 seconds East
on an East line of said real estate 1.17 feet; thence North 00 degrees 48
minutes 32 seconds West on an East line of said real estate 18.60 feet (18.09
feet measured to the True Beginning Point.)
Except therefrom that part conveyed to McCready and Keene, Inc. by deed
recorded December 24, 1991 as Instrument #91-132112, to-wit:
Part of the South Half of the Southeast Quarter of Section 22, Township 17
North, Range 4 East, Lawrence Township, Marion County, Indiana, more
particularly described as follows:
Commencing at the Northwest corner of the South Half of the Southeast Quarter
of Section 22, Township 17 North, Range 4 East, Lawrence Township, Marion
County, Indiana; thence North 89 degrees 49 minutes 43 seconds East (assumed
bearing) 1200.35 feet to the North line thereof to the centerline of Castleway
Drive; thence South 00 degrees 07 minutes 10 seconds West 397.13 feet on said
centerline to the point of curvature of a tangent curve concave Westerly,
having a radius of 200.00 feet which bears North 89 degrees 52 minutes 50
seconds West from said point of curvature; thence Southwesterly along the arc
of said curve to the right a distance of 92.20 feet; thence North 89 degrees 49
minutes 43 seconds East 16.90 feet parallel with the North Line of said South
Half to the Point of Beginning; thence continuing North 89 degrees 49 minutes
43 seconds East 283.53 feet parallel with the North line of said South half to
a PK Nail set at a point located 31 feet Northwesterly, as measured at right
angles to the Northwesterly right-of-way line of the former Norfolk and Western
Railroad; thence South 27 degrees 35 minutes 05 seconds West 468.05 feet
parallel with the right-of-way for said Railroad to a PK Nail set; thence North
62 degrees 24 minutes 55 seconds West 279.65 feet to the point of intersection
of a non-tangent curve, concave Northwesterly, having a radius of 214.00 feet
which bears North 32 degrees 25 minutes 06 seconds West from said point of
intersection; thence Northeasterly along the arc of said curve an arc distance
of 112.04 feet to the point
(Continued)
Page 2 of 4
EXHIBIT "2"
TO ASSIGNMENT OF LEASES
-2-
70
of tangency thereof; thence North 27 degrees 35 minutes 05 seconds East 217.48
feet to the point of curvature of a tangent curve, concave Westerly having a
radius of 214.00 feet which bears North 62 degrees 24 minutes 55 seconds West
from said point of curvature; thence Northeasterly along the arc of said curve
to the left an arc distance of 10.91 feet to the Point of Beginning.
Parcel II (West Part of Castleton Commercial Park):
Part of the Southwest Quarter of Section 22, Township 17 North, Range 4 East in
Marion County, Indiana, described as follows:
Beginning on the East line of the Southwest Quarter of Section 22, Township 17
North, Range 4 East 262.59 feet South 00 degrees 07 minutes 10 seconds West
(assumed bearing) from the Northeast corner thereof; continuing thence South 00
degrees 07 minutes 10 seconds West on said East line 1447.01 feet; thence North
89 degrees 52 minutes 50 seconds West 155.00 feet; thence North 00 degrees 07
minutes 10 seconds East parallel with the East line of said Southwest Quarter
205.00 feet; thence North 89 degrees 52 minutes 50 seconds West 30.00 feet;
thence North 00 degrees 07 minutes 10 seconds East 10.00 feet; thence North 36
degrees 47 minutes 35 seconds West 743.63 feet; thence South 18 degrees 07
minutes 27 seconds East 739.31 feet to a point that is 195.00 feet North 39
degrees 49 minutes 31 seconds East of the Northeasterly right-of-way line of
I-465; thence South 50 degrees 10 minutes 29 seconds East parallel with said
right-of-way line 70.00 feet; thence South 39 degrees 49 minutes 31 seconds
West 195.00 feet to said right-of-way line; thence North 50 degrees 10 minutes
29 seconds West on said right-of-way line 2569.98 feet to the South line of the
right-of-way widening for East 82nd Street bridge over I-465; thence North 74
degrees 03 minutes 11 seconds East on said right-of-way line 129.13 feet;
thence North 81 degrees 01 minutes 35 seconds East on said line 353.28 feet to
the East line of said right-of-way widening; thence North 00 degrees 37 minutes
57 seconds West on said East line 37.59 feet to the North line of said
Southwest Quarter; thence North 89 degrees 22 minutes 03 seconds East on said
North line 45.63 feet to a point that is 600.00 feet South 89 degrees 22
minutes 03 seconds West of the Northeast corner of the Northwest Quarter of
said Southwest Quarter; thence South 00 degrees 06 minutes 25 seconds West
parallel with the East line of the Northwest Quarter of said Southwest Quarter
227.80 feet; thence North 85 degrees 22 minutes 03 seconds East parallel with
the North line of said Southwest Quarter 600.00 feet to the East line of the
Northwest Quarter of said Southwest Quarter; thence South 00 degrees 06 minutes
25 seconds West on said East line 207.80 feet; thence North 89 degrees 22
minutes 03 seconds East parallel with the North line of said Southwest Quarter
300.00 feet; thence North 00 degrees 06 minutes 25 seconds East parallel with
the West line of the Northeast Quarter of said Southwest Quarter 205.60 feet to
a point that is 230.00 feet South 00 degrees 06 minutes 25 seconds West of the
North line of said Quarter Quarter; thence North 89 degrees 22 minutes 03
seconds East parallel with the
(Continued)
Page 3 of 4
EXHIBIT "2"
TO ASSIGNMENT OF LEASES
-3-
71
said North line 220.00 feet; thence North 00 degrees 06 minutes 25 seconds East
parallel with the West line of the Northeast Quarter of said Southwest Quarter
230.00 feet to a point on the North line of said Southwest Quarter which is
810.16 feet South 89 degrees 22 minutes 03 seconds West of the Northeast corner
thereof; thence North 89 degrees 22 minutes 03 seconds East on said North line
320.39 feet; thence South 00 degrees 07 minutes 10 seconds West parallel with
the East line of said Southwest Quarter 257.60 feet; thence North 89 degrees 22
minutes 03 seconds East parallel with the North line of said Quarter 180.00
feet; thence South 00 degrees 07 minutes 10 seconds West parallel with the East
line of said Quarter 4.99 feet; thence North 89 degrees 22 minutes 03 seconds
East parallel with the North line of said Quarter 263.45 feet to the Westerly
line of real estate conveyed to the City of Indianapolis Department of
Transportation by a Warranty Deed recorded as Instrument #73-57723 in the
Office of the Recorder of Marion County, Indiana; thence South 11 degrees 11
minutes 03 seconds East on said Westerly line 27.16 feet; thence South 35
degrees 07 minutes 45 second East 42.43 feet to the Easterly line of said real
estate; thence North 00 degrees 07 minutes 10 seconds East on said Easterly
line 61.67 feet to a point that is 262.59 feet South 00 degrees 07 minutes 10
seconds West of the North line of said Southwest Quarter; thence North 89
degrees 22 minutes 03 seconds East parallel with said North line 14.50 feet to
the Beginning Point.
Except therefrom that part conveyed to The Wesleyan Church Corporation by deed
recorded December 24, 1991 as Instrument #91-132118, to-wit:
Part of the Southwest Quarter of Section 22, Township 17 North, Range 4 East,
Lawrence Township, Marion County, Indiana, more particularly described as
follows: Commencing at the Northeast corner of the Southeast Quarter of Section
22, Township 17 North, Range 4 East; thence South 00 degrees 07 minutes 10
seconds West (assumed bearing) on and along the East line thereof 2175.30 feet
to the Northerly right-of-way line of Interstate Highway 465; thence North 54
degrees 37 minutes 11 seconds West on and along said right-of-way line 125.36
feet; thence North 50 degrees 10 minutes 29 seconds West on and along said
right-of-way line 479.00 feet to the Southeasterly corner of the real estate
described in a Corporate Warranty Deed recorded as Instrument #85-19064 in the
Office of the Recorder of Marion County, Indiana; thence North 39 degrees 49
minutes 31 seconds East 40.00 feet on the Easterly line of said Instrument
#85-19064 to a 5/8 inch rebar w/cap at the Point of Beginning of this
description; thence North 50 degrees 10 minutes 29 seconds West 1070.50 feet
parallel with the aforesaid Northerly right-of-way line for Interstate Highway
465 to a 5/8 inch rebar w/cap; thence North 39 degrees 49 minutes 31 second
East 155.00 feet; thence South 50 degrees 10 minutes 29 seconds East 1070.50
feet parallel with the aforesaid Northerly right-of-way line for Interstate
Highway 465 to a point which bears North 39 degrees 49 minutes 31 seconds East
153.00 feet from the point of beginning; thence South 39 degrees 49 minutes 31
seconds West 155.00 feet to the Point of Beginning.
Page 4 of 4
EXHIBIT "2"
TO ASSIGNMENT OF LEASES
-4-
72
BILL OF SALE
This Bill of Sale ("Bill of Sale") is made on ________, 1995 by EQK
REALTY INVESTORS I, a Massachusetts business trust, ("Transferor") in favor of
______________, a ________________________, its successors and assigns
("Transferee"). This transfer is made pursuant to that certain Purchase
Agreement for Real Property and Escrow Instructions dated ______, 1995 between
Transferor and K/B Realty Advisors, Inc., a Delaware corporation (predecessor
to Transferee) (the "Purchase Agreement").
For value received, receipt and sufficiency of which are acknowledged,
Transferor sells assigns, transfers, conveys and delivers to Transferee,
absolutely and not as security, all of its present and future right, title and
interest in and to furniture, fixtures, equipment, appliances, and personal
property owned by Seller and now located in or on the Real Property (as defined
in the Purchase Agreement) and used in connection with the management and
operation of the Real Property, including, without limitation, those items
listed on the attached Exhibit "1" (collectively, the "Personal Property").
Transferor warrants that Transferor has good and marketable title to
the Personal Property free and clear of all mortgages, security interests,
pledges, conditions, liens and encumbrances of any nature. Except as set forth
in the immediately preceding sentence and the Purchase Agreement, Transferor
disclaims all warranties, express or implied, the parties agreeing that the
Personal Property is being sold, assigned, transferred, conveyed and delivered
"as is", "with all faults".
Transferor will, upon request from Transferee, without further
consideration, execute, acknowledge and deliver or cause to be executed
acknowledged and delivered all such further documents necessary or proper to
effect the sale, assignment, transfer, conveyance and delivery of the Personal
Property to Transferee.
In any action between the parties to enforce any of the terms or
provisions of this Bill of Sale, the prevailing party in the action shall be
entitled to recover from the non-prevailing party, in addition to damages,
injunctive relief or other relief, its reasonable costs and expenses,
including, without limitation, costs and reasonable attorneys' fees.
This Bill of Sale shall inure to the benefit of the parties and their
respective successors and assigns.
If any provision of this Bill of Sale shall be held invalid or
unenforceable for any reason and to any extent, the remainder of this Bill of
Sale shall not be affected, but shall be enforced to the greatest extent
permitted by law.
EXHIBIT "H"
TO PURCHASE AGREEMENT
-1-
73
This Bill of Sale contains the entire understanding between the
parties relating to its subject matter. All prior and contemporaneous
agreements and understandings, whether oral or written, are superseded by this
Bill of Sale.
"TRANSFEROR"
EQK REALTY INVESTORS I, a
Massachusetts business trust
By:
-----------------------
-----------------------
(Print Name) (Title)
EXHIBIT "H"
TO PURCHASE AGREEMENT
-2-
74
LIST OF PERSONAL PROPERTY
CASTLETON OFFICE PARK
PERSONAL PROPERTY IN BUILDINGS
12 Wooden Trash Receptacles
10 Exterior Cigarette/Trash Receptacle
16 Wooden Bench
13 Wooden Planter
9 Wooden End Table
3 Wooden Planter (Large)
45 Artwork (Framed Prints)
8 Cork Board - Mounted
50 Wood Picnic Tables
25 Wood/Metal Picnic Tables
1 Compaq Computer (Ms. Kathy Woodard)
-No Printer-
MAINTENANCE SHOP
- ----------------
- - Numerous 2x4 and 2x2 Fluorescent Fixtures - 1 - colorant carrousel
- - Portion of Basketball Floor from Training Facility - 1 - DeVilbiss spray gun
- - Misc. Maintenance Supplies - 1 - Red Devil paint mixer
- - Large Supply of Rock Salt, Ice Melt and Road Salt - 1 - gallon paint shaker
- - Misc. Plumbing Supplies - 1 - 1.5 hp craftsman air compressor
- - 1 - Badger air brush - 1 - Craftsman belt sander
- - 1 - 1/4 sheet palm sander - 1 - 1/2" drill
- - 1 - Milwaukee screw gun - 1 - Spartan drain auger
- - 1 - Milwaukee electric hand auger - 1 - Cole Key duplicating machine
- - 1 - Zipco lock combinating pin set - 1 Best core combinating pin set
- - 1 - Scott router-edger - 1 - Scott pantograph sm-300
- - 2 - golf carts - 7 - Honda snowblowers
- - 1 - push sweeper - 1 - billygoat vacuum
- - 1 - Mclane edger - 1 - John Deere edger
- - 2 - hose reels with hose - 2 - Honda generators
- - 1 - pole pruner - 1 - Echo chain saw
- - 3 - electric hedge trimmers - 2 - Earthway broadcast spreaders
- - 1 - 12-volt battery charger - 1 - 3-ton floor jack
- - 1 - forklift with carpet pole - 1 - combustible liquids cabinet
- - 2 - rrti refrigerant recovery units - 1 - Fluke multi-meter
- - 2 - 50# recovery tanks - 1 - Total Clean refrigerant recovery
- - 2 - Tif 9000 electronic charging meter - 7 - 30# recovery tanks
- 2 - vacuum pumps
EXHIBIT "1"
TO BILL OF SALE
-1-
75
CASTLETON OFFICE PARK
PERSONAL PROPERTY
PAGE 2
- - 1 - Milwaukee Metal cutting shear - 1 - Dayton hand vac
- - 1 - pressure regulator for nitrogen - 1 - Oxy-acetylene torch set
- - 3 - acetylene tanks - 3 - oxygen tanks
- - 1 - Ridgid tristand chain vise - 1 - Ridgid pipe cutter
- - 1 - Ridgid pipe reamer - 1 - Ridgid power drive unit
- - 1 - pressure sprayer - 1 - Milwaukee battery drill
- - 1 - Makita battery drill - 2 - Milwaukee ac drills
- - 1 - 4' step ladder - 1 - 5' step ladder
- - 8 - 6' step ladder - 2 - 8' step ladder
- - 1 - 10' step ladder - 3 - 24' extension ladder
- - 1 - rolling scaffold - 1 - folding ladder
- - 1 - electric floor scraper - 3 - wet/dry vacuum
- - Best Lock Key Machine
EXHIBIT "1"
TO BILL OF SALE
-2-
76
GENERAL ASSIGNMENT
This General Assignment is executed as of , 1995
("Effective Date") between EQK REALTY INVESTORS I, a Massachusetts business
trust ("Assignor"), and , a ("Assignee"), with
reference to the following facts:
A. Concurrently with this General Assignment, Assignor is
conveying to Assignee certain interests in land, together with Assignor's
interest in all improvements on the land as described on the attached Exhibit
"1" incorporated into this General Assignment by reference (the land and
improvements are collectively referred to as the "Real Property").
B. Assignor desires to assign, transfer and convey to Assignee
all of Assignee's beneficial rights, title and interest and all licenses,
permits, approvals, blueprints, plans, specifications, maps, drawings and
guarantees and all warranties made by any contractors, subcontractors, vendors
and suppliers, regarding their performance and the quality of materials
supplied in connection with the construction or operation of all or any of the
Real Property or pertaining to the Real Property or the Personal Property,
including, without limitation, those described on Exhibit "2" and all
intangible rights and property, including, without limitation, all rights of
ownership and use of the name "Castleton Park" and rights to use of any phone
numbers of Seller at the Property (collectively "Permits, Warranties and
Intangibles"). This Assignment is being made pursuant to that certain Purchase
Agreement for Real Property and Escrow Instructions dated November 16, 1995
between Assignor and K/B Realty Advisors, Inc., a Delaware corporation
(predecessor to Assignee) (the "Purchase Agreement").
NOW THEREFORE, in consideration of the foregoing and for other good
and valuable consideration paid by Assignee to Assignor, the receipt and
sufficiency of which are acknowledged, Assignor and Assignee agree as follows:
1. Assignment. Assignor hereby sells, assigns, transfers
and sets over to Assignee, all of Assignor's beneficial rights, title and
interests (but not obligations) in and to the Permits, Warranties and
Intangibles.
2. Assignor's Indemnification. Assignor shall indemnify,
defend and hold harmless Assignee and Assignee's employees, partners,
subsidiaries, parents, affiliates, shareholders, officers, directors,
attorneys, agents, and affiliates and their predecessors, successors and
assigns, from and against all liabilities, claims, losses, actions, damages,
fines, costs, expenses, causes of actions and demands arising out of or in any
way connected with the Assignor's obligations under the Permits, Warranties
and Intangibles.
3. Effective Date. This Assignment shall be deemed
effective on the date ("Effective Date") the Grant Deed (as defined in the
Purchase Agreement) is filed for record with the Marion County Recorder's
Office.
EXHIBIT "I"
TO PURCHASE AGREEMENT
-1-
77
4. Attorneys' Fees. In any action between the parties to
enforce any of the terms or provisions of this Assignment, the prevailing
party in the action shall be entitled to recover from the non-prevailing
party, in addition to damages, injunctive relief or other relief, its
reasonable costs and expenses, including, without limitation, costs and
reasonable attorneys' fees.
5. Successors and Assigns. This Assignment shall inure
to the benefit of the parties and their respective successors and assigns.
6. Severability. If any provision of this Assignment
shall be held invalid or unenforceable for any reason and to any extent, the
remainder of this Assignment shall not be affected, but shall be enforced to
the greatest extent permitted by law.
7. Merger. This Assignment contains the entire
understanding between the parties relating to its subject matter.
All prior and contemporaneous agreements and understandings, whether oral or
written, are superseded by this Assignment.
"ASSIGNOR"
EQK REALTY INVESTORS I, a
Massachusetts business trust
By:
-----------------------
-----------------------
(Print Name) (Title)
EXHIBIT "I"
TO PURCHASE AGREEMENT
-2-
78
LEGAL DESCRIPTION OF REAL PROPERTY
LEGAL DESCRIPTION:
Parcel I (East Part of Castleton Commercial Park):
Part of the Southeast Quarter of Section 22, Township 17 North, Range 4 East in
Marion County, Indiana, described as follows:
Beginning at the Northwest corner of the Southeast Quarter of Section 22,
Township 17 North, Range 4 East; thence South 00 degrees 07 minutes 10 seconds
West (assumed bearing) on the West line thereof 259.83 feet; thence South 89
degrees 52 minutes 50 seconds East 35.64 feet to the True Beginning Point of
the real estate herein described on an East line of real estate conveyed to the
City of Indianapolis D.O.T. by a Warranty Deed recorded as Instrument #75-13337
in the Office of the Recorder of Marion County, Indiana; continuing thence
South 89 degrees 52 minutes 50 seconds East 563.96 feet to the Southerly
prolongation of the West line of a non-exclusive roadway easement described in
a grant recorded as Instrument #75-4800 in the Office of the Recorder of Marion
County, Indiana; thence North 00 degrees 07 minutes 10 seconds East on said
Southerly prolongation and West line 227.79 feet to the Southerly right-of-way
line of East 82nd Street on a curve having a radius length of 54,517.41 feet
which bears South 00 degrees 07 minutes 00.7 seconds East; thence Easterly on
said right-of-way line and curve to the right 54.00 feet to the West line of
real estate leased to Goodyear Tire and Rubber Company as described in a lease
recorded as Instrument #74-71954 in the Office of the Recorder of Marion
County, Indiana; thence South 00 degrees 7 minutes 10 seconds West on said West
line 299.74 feet to the Southwest corner thereof; thence South 89 degrees 52
minutes 50 seconds East on the South line of said leased real estate 100.11
feet to a point that is 753.71 feet North 90 degrees 00 minutes 00 seconds East
of the West line of said Southeast Quarter; thence South 00 degrees 07 minutes
10 seconds West parallel with said West line 5.13 feet to a point that is
338.29 feet South 00 degrees 07 minutes 10 seconds West of the North line of
said Southeast Quarter; thence South 90 degrees 00 minutes 00 seconds East
parallel with said North line 426.69 feet to a point that is 1180.40 feet North
90 degrees 00 minutes 00 seconds East of the West line of said Southeast
Quarter; thence North 00 degrees 07 minutes 10 seconds East parallel with said
West line 53.25 feet; thence North 90 degrees 00 minutes 00 seconds East
parallel with the North line of said Southeast Quarter 152.82 feet to the West
line of the Northeast Quarter of said Southeast Quarter; thence North 00
degrees 07 minutes 26 seconds East on said West line 285.04 feet to the
Northwest corner of the Northeast Quarter of said Southeast Quarter; thence
North 90 degrees 00 minutes 00 seconds East on the North line thereof 350.00
feet; thence South 00 degrees 07 minutes 26 seconds West parallel with the West
line of said Quarter Quarter 386.30 feet; thence South 90 degrees 00 minutes 00
seconds East parallel with the North line of said Quarter Quarter 226.04 feet
to the West line of Herrin's Addition to Castleton, as per plat thereof,
recorded in Plat Book 11, page 15 in the Office of the Recorder of Marion
County, Indiana; thence South 00 degrees 21 minutes 21 seconds West on said
West line 232.00 feet to a point that is 618.30 feet South 00 degrees 21
minutes 21 seconds West of the North line of said Southeast Quarter; thence
South 89 degrees 38 minutes 39 seconds East 229.50 feet to the Northwesterly
right-of-way line of the Norfolk & Western (formerly Lake Erie & Western)
Railroad; thence South 27 degrees 36 minutes 55 seconds West on said
right-of-way line 800.50 feet; thence South 27 degrees 35 minutes 05 seconds
West on said right-of-way line 1342.34 feet to the Northerly right-of-way line
of Interstate Highway I-465 as conveyed by a deed recorded as Instrument
#68-24425, in the Office of the Recorder of Marion County, Indiana; thence
North 81 degrees 02 minutes 41 seconds West on said Northerly right-of-way
(Continued)
Page 1 of 4
EXHIBIT "1"
TO GENERAL ASSIGNMENT
-1-
79
line 813.26 feet; thence North 58 degrees 47 minutes 04 seconds West on said
right-of-way line 314.80 feet; thence North 54 degrees 40 minutes 01 seconds
West on said right-of-way line 92.92 feet to the West line of said Southeast
Quarter; thence North 00 degrees 07 minutes 10 second East on said West line
840.98 feet to the Southwest corner of the Northwest Quarter of said Southeast
Quarter; thence North 89 degrees 49 minutes 43 seconds East on the South line
of said Quarter Quarter 493.49 feet; thence North 00 degrees 07 minutes 10
seconds East parallel with the West line of said Southeast Quarter 382.61 feet
to the South line of real estate described in a Quitclaim Deed recorded as
Instrument #76-51152 in the Office of the Recorder of Marion County, Indiana;
thence North 89 degrees 51 minutes 35 seconds West on said South line 458.48
feet to an East line of the real estate conveyed to the City of Indianapolis
per Instrument #75-13337; thence North 00 degrees 07 minutes 10 seconds East on
said East line 670.44 feet; thence North 53 degrees 59 minutes 08 seconds East
on an East line of said real estate 1.17 feet; thence North 00 degrees 48
minutes 32 seconds West on an East line of said real estate 18.60 feet (18.09
feet measured to the True Beginning Point.)
Except therefrom that part conveyed to McCready and Keene, Inc. by deed
recorded December 24, 1991 as Instrument #91-132112, to-wit:
Part of the South Half of the Southeast Quarter of Section 22, Township 17
North, Range 4 East, Lawrence Township, Marion County, Indiana, more
particularly described as follows:
Commencing at the Northwest corner of the South Half of the Southeast Quarter
of Section 22, Township 17 North, Range 4 East, Lawrence Township, Marion
County, Indiana; thence North 89 degrees 49 minutes 43 seconds East (assumed
bearing) 1200.35 feet to the North line thereof to the centerline of Castleway
Drive; thence South 00 degrees 07 minutes 10 seconds West 397.13 feet on said
centerline to the point of curvature of a tangent curve concave Westerly,
having a radius of 200.00 feet which bears North 89 degrees 52 minutes 50
seconds West from said point of curvature; thence Southwesterly along the arc
of said curve to the right a distance of 92.20 feet; thence North 89 degrees 49
minutes 43 seconds East 16.90 feet parallel with the North Line of said South
Half to the Point of Beginning; thence continuing North 89 degrees 49 minutes
43 seconds East 283.53 feet parallel with the North line of said South half to
a PK Nail set at a point located 31 feet Northwesterly, as measured at right
angles to the Northwesterly right-of-way line of the former Norfolk and Western
Railroad; thence South 27 degrees 35 minutes 05 seconds West 468.05 feet
parallel with the right-of-way for said Railroad to a PK Nail set; thence North
62 degrees 24 minutes 55 seconds West 279.65 feet to the point of intersection
of a non-tangent curve, concave Northwesterly, having a radius of 214.00 feet
which bears North 32 degrees 25 minutes 06 seconds West from said point of
intersection; thence Northeasterly along the arc of said curve an arc distance
of 112.04 feet to the point
(Continued)
Page 2 of 4
EXHIBIT "1"
TO GENERAL ASSIGNMENT
-2-
80
of tangency thereof; thence North 27 degrees 35 minutes 05 seconds East 217.48
feet to the point of curvature of a tangent curve, concave Westerly having a
radius of 214.00 feet which bears North 62 degrees 24 minutes 55 seconds West
from said point of curvature; thence Northeasterly along the arc of said curve
to the left an arc distance of 10.91 feet to the Point of Beginning.
Parcel II (West Part of Castleton Commercial Park):
Part of the Southwest Quarter of Section 22, Township 17 North, Range 4 East in
Marion County, Indiana, described as follows:
Beginning on the East line of the Southwest Quarter of Section 22, Township 17
North, Range 4 East 262.59 feet South 00 degrees 07 minutes 10 seconds West
(assumed bearing) from the Northeast corner thereof; continuing thence South 00
degrees 07 minutes 10 seconds West on said East line 1447.01 feet; thence North
89 degrees 52 minutes 50 seconds West 155.00 feet; thence North 00 degrees 07
minutes 10 seconds East parallel with the East line of said Southwest Quarter
205.00 feet; thence North 89 degrees 52 minutes 50 seconds West 30.00 feet;
thence North 00 degrees 07 minutes 10 seconds East 10.00 feet; thence North 36
degrees 47 minutes 35 seconds West 743.63 feet; thence South 18 degrees 07
minutes 27 seconds East 739.31 feet to a point that is 195.00 feet North 39
degrees 49 minutes 31 seconds East of the Northeasterly right-of-way line of
I-465; thence South 50 degrees 10 minutes 29 seconds East parallel with said
right-of-way line 70.00 feet; thence South 39 degrees 49 minutes 31 seconds
West 195.00 feet to said right-of-way line; thence North 50 degrees 10 minutes
29 seconds West on said right-of-way line 2569.98 feet to the South line of the
right-of-way widening for East 82nd Street bridge over I-465; thence North 74
degrees 03 minutes 11 seconds East on said right-of-way line 129.13 feet;
thence North 81 degrees 01 minutes 35 seconds East on said line 353.28 feet to
the East line of said right-of-way widening; thence North 00 degrees 37 minutes
57 seconds West on said East line 37.59 feet to the North line of said
Southwest Quarter; thence North 89 degrees 22 minutes 03 seconds East on said
North line 45.63 feet to a point that is 600.00 feet South 89 degrees 22
minutes 03 seconds West of the Northeast corner of the Northwest Quarter of
said Southwest Quarter; thence South 00 degrees 06 minutes 25 seconds West
parallel with the East line of the Northwest Quarter of said Southwest Quarter
227.80 feet; thence North 85 degrees 22 minutes 03 seconds East parallel with
the North line of said Southwest Quarter 600.00 feet to the East line of the
Northwest Quarter of said Southwest Quarter; thence South 00 degrees 06 minutes
25 seconds West on said East line 207.80 feet; thence North 89 degrees 22
minutes 03 seconds East parallel with the North line of said Southwest Quarter
300.00 feet; thence North 00 degrees 06 minutes 25 seconds East parallel with
the West line of the Northeast Quarter of said Southwest Quarter 205.60 feet to
a point that is 230.00 feet South 00 degrees 06 minutes 25 seconds West of the
North line of said Quarter Quarter; thence North 89 degrees 22 minutes 03
seconds East parallel with the
(Continued)
Page 3 of 4
EXHIBIT "1"
TO GENERAL ASSIGNMENT
-3-
81
said North line 220.00 feet; thence North 00 degrees 06 minutes 25 seconds East
parallel with the West line of the Northeast Quarter of said Southwest Quarter
230.00 feet to a point on the North line of said Southwest Quarter which is
810.16 feet South 89 degrees 22 minutes 03 seconds West of the Northeast corner
thereof; thence North 89 degrees 22 minutes 03 seconds East on said North line
320.39 feet; thence South 00 degrees 07 minutes 10 seconds West parallel with
the East line of said Southwest Quarter 257.60 feet; thence North 89 degrees 22
minutes 03 seconds East parallel with the North line of said Quarter 180.00
feet; thence South 00 degrees 07 minutes 10 seconds West parallel with the East
line of said Quarter 4.99 feet; thence North 89 degrees 22 minutes 03 seconds
East parallel with the North line of said Quarter 263.45 feet to the Westerly
line of real estate conveyed to the City of Indianapolis Department of
Transportation by a Warranty Deed recorded as Instrument #73-57723 in the
Office of the Recorder of Marion County, Indiana; thence South 11 degrees 11
minutes 03 seconds East on said Westerly line 27.16 feet; thence South 35
degrees 07 minutes 45 second East 42.43 feet to the Easterly line of said real
estate; thence North 00 degrees 07 minutes 10 seconds East on said Easterly
line 61.67 feet to a point that is 262.59 feet South 00 degrees 07 minutes 10
seconds West of the North line of said Southwest Quarter; thence North 89
degrees 22 minutes 03 seconds East parallel with said North line 14.50 feet to
the Beginning Point.
Except therefrom that part conveyed to The Wesleyan Church Corporation by deed
recorded December 24, 1991 as Instrument #91-132118, to-wit:
Part of the Southwest Quarter of Section 22, Township 17 North, Range 4 East,
Lawrence Township, Marion County, Indiana, more particularly described as
follows: Commencing at the Northeast corner of the Southeast Quarter of Section
22, Township 17 North, Range 4 East; thence South 00 degrees 07 minutes 10
seconds West (assumed bearing) on and along the East line thereof 2175.30 feet
to the Northerly right-of-way line of Interstate Highway 465; thence North 54
degrees 37 minutes 11 seconds West on and along said right-of-way line 125.36
feet; thence North 50 degrees 10 minutes 29 seconds West on and along said
right-of-way line 479.00 feet to the Southeasterly corner of the real estate
described in a Corporate Warranty Deed recorded as Instrument #85-19064 in the
Office of the Recorder of Marion County, Indiana; thence North 39 degrees 49
minutes 31 seconds East 40.00 feet on the Easterly line of said Instrument
#85-19064 to a 5/8 inch rebar w/cap at the Point of Beginning of this
description; thence North 50 degrees 10 minutes 29 seconds West 1070.50 feet
parallel with the aforesaid Northerly right-of-way line for Interstate Highway
465 to a 5/8 inch rebar w/cap; thence North 39 degrees 49 minutes 31 second
East 155.00 feet; thence South 50 degrees 10 minutes 29 seconds East 1070.50
feet parallel with the aforesaid Northerly right-of-way line for Interstate
Highway 465 to a point which bears North 39 degrees 49 minutes 31 seconds East
153.00 feet from the point of beginning; thence South 39 degrees 49 minutes 31
seconds West 155.00 feet to the Point of Beginning.
Page 4 of 4
EXHIBIT "1"
TO GENERAL ASSIGNMENT
-4-
82
PRE-APPROVED POST-SEPTEMBER 11, 1995 LEASES
EXHIBIT J TO PURCHASE AGREEMENT
PRE-APPROVED LEASES
TENANT NAME BUILDING/SPACE #
- ----------- ----------------
Walker Resources 03-104
Biosound 04-100
H.S. Basketball Cards 07-204
Shein Williams 07-206
Jerome Modlik 07-210
Leg Spider 07-213
Information Management Group 08-101
Esty Limited 08-107
Hen P. Thompson 10-208
The Controllership Co. 18-107
Primepay, Inc. 18-114
Patricia Boer 26-115
Perry Meek 26-150
Whitehall Funding, Inc. 29-120
Sellick & Dotts 30-115
USA Group 32-145
Wesley Church 35-100
Earth Tech 36-105
Allison Secretarial 42-120
EXHIBIT "J"
TO PURCHASE AGREEMENT
-1-
83
PRE-APPROVED POST SEPTEMBER 11, 1995 LEASING COSTS
PRE-APPROVED POST SEPTEMBER 11, 1995 LEASING COSTS
BUILDING/ TENANT LEASING TOTAL TOTAL LEASING COST
TENANT NAME SPACE # ALLOWANCE COMMISSION LEASING COST PAID TO DATE OUTSTANDING
----------- --------- --------- ---------- ------------ ------------ -----------
PRE-APPROVED LEASES
-------------------
Walker Research 03-104 $0 $0.00 $0 $0 $0
Blosound 04-100 341,112 0 341,112 5,282 335,830
H.S. Basketball Cards 07-204 0 0 0 0 0
Sherwin Williams 07-206 500 0 500 19 481
Jerome Modlik 07-210 0 0 0 0 0
Leg Spider 07-213 0 0 0 0 0
Information Management Group 08-101 4,955 0 4,955 2,923 2,032
Esty Limited 08-107 0 0 0 0 0
Henry P. Thompson Co. 10-208 1,250 0 1,250 232 1,018
The Controllership Co. 18-107 0 0 0 0 0
Prime Pay, Inc. 18-114 25,000 0 25,000 25,103 (103)
Patricia Boer 26-115 2,530 0 2,530 105 2,425
Perry Meek 26-150 500 0 500 205 295
Whitehall Funding, Inc. 29-120 4,200 0 4,200 4,408 (208)
Sellick & Dotts 30-115 0 0 0 0 0
USA Group 32-145 0 0 0 0 0
Wesley Church 35-100 0 0 0 0 0
Earth Tech 36-105 500 0 500 320 180
Allision Secretarial 42-120 0 0 0 0 0
- ------------------------------ -------- ------- -------- ------- --------
TOTAL LEASES $380,547 $0 $380,547 $38,596 $341,951
- ------------------------------ -------- ------- -------- ------- --------
PRE-APPROVED LEASE PROPOSALS
- ----------------------------
Tronitech, Inc. 06-102 11,475 0 11,475 0 11,475
Mold Engineering 07-104 7,452 0 7,452 0 7,452
Information Management Group 08-104 1,700 0 1,700 0 1,700
Donald Brown, CPA 08-109 900 0 900 0 900
American Family Insurance 09-105 1,316 0 1,316 0 1,316
Omron 09-109 1,000 0 1,000 0 1,000
Metropolitan Insurance 11-120 0 0 0 0 0
Trident Foods 18-104 4,154 0 4,154 31 4,123
Groundwater Technology* 19-160 0 1,706 1,706 0 1,706
Charles E. Hill & Assoc. 21-141 0 0 0 0 0
U.S. Sprint* 23-130 214,500 34,198 248,698 118 248,580
Trustmark, Ins. 26-130 2,026 0 2,026 96 1,930
IRC Audio 33-112 0 0 0 0 0
- ------------------------------ ------ -------- ------- -------- ------- --------
TOTAL PROPOSALS $244,523 $35,904 $280,427 $245 $280,182
============================== ======== ======= ======== ======= ========
-------- ------- -------- ------- --------
GRAND TOTAL $625,070 $35,904 $660,974 $38,841 $622,133
============================== ======== ======= ======== ======= ========
Includes 4% Leasing Commission
EXHIBIT "J-1"
TO PURCHASE AGREEMENT
-1-
84
LEASE SUMMARY
CASTLETON PARK *In the Notes column, please input all of the letters that apply.
EXHIBIT K (A) If the tenant has vacated or sublet any portion of their space.
LEASE SUMMARY REPORT (B) If the tenant has any unearned free rent or unpaid allowances.
REVISED 11/13/95 (C) If the tenant has any termination options.
CURRENT CURRENT
SQUARE LEASE LEASE MONTHLY MONTHLY TOTAL MONTHLY
TENANT SUITE FEET START DATE EXP. DATE BASE RENT ESCL. PYMT. RENT
- ----------------------------------------------------------------------------------- -----------------------------------------
TRONITECH, INC. 32-142 3,808 3 93 12 97 1,125.00 177.67 1,302.67
- ----------------------------------------------------------------------------------- -----------------------------------------
USAF 32-145 11,752 3 91 4 97 8,804.12 0.00 8,804.12
- ----------------------------------------------------------------------------------- -----------------------------------------
IRC-AUDIO 33-112 7,509 3 91 2 96 3,420.79 84.91 3,507.70
- ----------------------------------------------------------------------------------- -----------------------------------------
IRC MUSIC, INC. 33-117 1,250 3 91 2 96 568.13 0.00 568.13
- ----------------------------------------------------------------------------------- -----------------------------------------
BOB BLOCK SPORTS & FITNESS 34-128 10,330 10 93 9 98 5,490.18 169.44 5,659.62
- ----------------------------------------------------------------------------------- -----------------------------------------
WESLEYAN CHURCH 35-100 34,444 8 95 7 100 16,703.50 0.00 16,703.50
- ----------------------------------------------------------------------------------- -----------------------------------------
CHARTWELL MIDWEST 35-118 7,644 8 95 4 98 4,423.56 117.84 4,541.40
- ----------------------------------------------------------------------------------- -----------------------------------------
BIOSOUND, INC. 35-108 2,868 8 90 4 95 1,133.25 110.84 1,244.09
- ----------------------------------------------------------------------------------- -----------------------------------------
EARTHTECH 36-105 14,321 8 93 4 100 12,479.76 0.00 12,479.76
- ----------------------------------------------------------------------------------- -----------------------------------------
ASPLUNDH TREE EXPERT 36-109 3,390 10 94 9 97 2,599.32 134.07 2,733.39
- ----------------------------------------------------------------------------------- -----------------------------------------
SOCIETY NATIONAL BANK 37-106 16,800 9 89 8 99 12,110.00 0.00 12,110.00
- ----------------------------------------------------------------------------------- -----------------------------------------
ASSOCIATED INSURANCE 38-132 10,000 7 93 10 97 6,610.00 0.00 6,910.00
- ----------------------------------------------------------------------------------- -----------------------------------------
ICON, INC. 39-105 2,208 8 92 1 97 1,928.19 43.69 1,971.88
- ----------------------------------------------------------------------------------- -----------------------------------------
IND. ASSOC OF SCH PRINCIPALS 39-191 7,603 7 92 6 99 6,730.05 0.00 6,730.00
- ----------------------------------------------------------------------------------- -----------------------------------------
CASTLEWAY MGMT 40-100 3,030 4 92 3 96 8,030.00 0.00 8,030.00
- ----------------------------------------------------------------------------------- -----------------------------------------
G S SALES 40-108 400 8 94 7 97 333.33 0.00 333.33
- ----------------------------------------------------------------------------------- -----------------------------------------
HCI 40-109 900 12 93 11 94 1,087.50 21.11 1,118.61
- ----------------------------------------------------------------------------------- -----------------------------------------
CBAI HOLDING COMPANY 40-110 2,139 6 93 3 99 2,114.10 0.00 2,114.10
- ----------------------------------------------------------------------------------- -----------------------------------------
CASTLETON REAL ESTATE GROUP 40-120 7,894 7 92 6 102 4,314.68 0.00 4,316.68
- ----------------------------------------------------------------------------------- -----------------------------------------
AETNA CASUALTY & SURETY 40-181 52,196 11 92 10 97 12,196.00 0.00 12,196.00
- ----------------------------------------------------------------------------------- -----------------------------------------
SOURCE BROKERAGE 40-403 1,139 5 95 7 97 1,124.41 0.00 1,124.41
- ----------------------------------------------------------------------------------- -----------------------------------------
REV 2, INC. 40-410 2,814 9 95 8 100 3,388.33 0.00 3,388.33
- ----------------------------------------------------------------------------------- -----------------------------------------
OHIO CASUALTY INS. 41-165 11,375 6 94 1 101 12,610.52 0.00 12,610.52
- ----------------------------------------------------------------------------------- -----------------------------------------
MCCONNELL MONROE, INC. 41-175 1,066 11 94 10 99 1,108.63 4.55 1,113.18
- ----------------------------------------------------------------------------------- -----------------------------------------
FLACK DESIGN, INC. 42-102 4,342 3 94 3 99 4,454.84 21.94 4,476.78
- ----------------------------------------------------------------------------------- -----------------------------------------
INK, INC. 42-104 978 6 94 5 97 1,027.11 1.04 1,828.15
- ----------------------------------------------------------------------------------- -----------------------------------------
INDEPENDENT APPRAISALS 42-110 2,321 7 92 6 97 2,339.49 61.79 2,409.28
- ----------------------------------------------------------------------------------- -----------------------------------------
WILLEY & ASSOCIATES 42-112 1,373 7 94 6 97 1,682.24 7.95 1,690.19
- ----------------------------------------------------------------------------------- -----------------------------------------
MILES, INC. 42-113 1,373 2 91 1 97 2,523.44 39.92 2,563.36
- ----------------------------------------------------------------------------------- -----------------------------------------
ALLISON SECRETARIAL 42-120 3,043 10 95 9 96 3,389.63 0.00 3,389.63
- ----------------------------------------------------------------------------------- -----------------------------------------
FDIC 42-121 2,837 4 98 3 110 3,163.67 0.00 3,163.67
- ----------------------------------------------------------------------------------- -----------------------------------------
INDIANA ORAL & MAX SURGERY 45-105 647 7 94 10 98 705.03 0.00 705.03
- ----------------------------------------------------------------------------------- -----------------------------------------
PHILLIP D. BURROUGHS 45-107 680 1 91 12 94 813.17 26.46 839.63
- ----------------------------------------------------------------------------------- -----------------------------------------
ROBERT LICHTENAUER 45-110 621 2 94 1 97 690.10 23.02 713.12
- ----------------------------------------------------------------------------------- -----------------------------------------
CASTLETON ORTHODONTICS 45-115 2,562 3 94 2 99 2,802.28 97.63 2,899.31
- ----------------------------------------------------------------------------------- -----------------------------------------
CASTLETON ORAL SURGERY 45-200 3,407 11 91 10 98 6,134.00 234.68 6,368.68
- ----------------------------------------------------------------------------------- -----------------------------------------
JACK ELLIS SHOWLEY 45-204 1,394 12 91 11 97 1,780.43 39.22 1,818.65
- ----------------------------------------------------------------------------------- -----------------------------------------
ASSOCIATED INSURANCE 46-210 47,870 7 91 6 101 39,911.16 0.00 39,911.16
- ----------------------------------------------------------------------------------- -----------------------------------------
USAF 47-185 44,419 8 92 4 97 38,826.68 0.00 38,826.68
- ----------------------------------------------------------------------------------- -----------------------------------------
ASSOCIATED INSURANCE 48-115 40,516 7 92 6 101 32,758.64 0.00 32,758.64
- ----------------------------------------------------------------------------------- -----------------------------------------
ART SOURCE 49-111 3,040 10 93 11 97 1,722.23 229.33 1,951.56
- ----------------------------------------------------------------------------------- -----------------------------------------
GREAT CLIPS 49-115 1,884 4 93 3 97 1,249.71 77.31 1,327.02
- ----------------------------------------------------------------------------------- -----------------------------------------
WEBSTERS SPORTING GOODS 49-117 3,012 10 91 9 99 1,811.02 27.20 1,838.22
- ----------------------------------------------------------------------------------- -----------------------------------------
PLANNED PARENTHOOD 49-121 2,471 11 91 10 94 1,811.00 160.01 1,971.01
- ----------------------------------------------------------------------------------- -----------------------------------------
9/30/93 # OF LENGTH
R.E. TAX OP. EXPENSE SECURITY RENEWAL OF RENEWAL EXPANSION
TENANT BASE YR/AMT. BASE YR/AMT. DEPOSITS OPTIONS YEARS RENT OPTIONS NOTES*
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
TRONITECH, INC. Included in 1.92 1.92 0.00
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
USAF N/A N/A 0.00 C
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
IRC-AUDIO Included in 1.43 1.43 0.00 1 2 NEG
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
IRC MUSIC, INC. Included in 1.43 1.43 0.00 C
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
BOB BLOCK SPORTS & FITNESS Included in 1.07 1.07 0.00 1 2 NEG
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
WESLEYAN CHURCH 1994 1994 0.00 1 2 NEG
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
CHARTWELL MIDWEST Included in 1.36 1.36 0.00 1 2 NEG YES C
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
BIOSOUND, INC. Included in 1.03 1.03 0.00
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
EARTHTECH 1994 1994 0.00 1 2 NEG YES C
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
ASPLUNDH TREE EXPERT 1993 1993 2,909.32
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
SOCIETY NATIONAL BANK 1994 1994 0.00 1 2 NEG C
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
ASSOCIATED INSURANCE Included in 3.00 3.00 0.00 2 2(EACH) NEG
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
ICON, INC. Included in 3.69 3.69 1,847.92
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
IND. ASSOC OF SCH PRINCIPALS Included in 4.87 4.87 0.00 1 2 NEG
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
CASTLEWAY MGMT N/A N/A 0.00 C
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
G S SALES 1993 1993 333.33
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
HCI 1992 1992 0.00
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
CBAI HOLDING COMPANY 1994 1994 2,114.10 C
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
CASTLETON REAL ESTATE GROUP 1994 1994 0.00 1 1 NEG
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
AETNA CASUALTY & SURETY Included in 4.83 4.83 0.00 2 2(EACH) NEG YES
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
SOURCE BROKERAGE 1994 1994 1,124.41
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
REV 2, INC. 1995 1995 0.00 1 1 NEG
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
OHIO CASUALTY INS. Included in 3.30 3.30 0.00 YES
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
MCCONNELL MONROE, INC. 1993 1993 1,108.63 C
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
FLACK DESIGN, INC. 1993 1993 4,454.80 1 1 NEG
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
INK, INC. 1993 1993 1,081.17
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
INDEPENDENT APPRAISALS Included in 4.84 4.84 2,601.28
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
WILLEY & ASSOCIATES 1993 1993 0.00
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
MILES, INC. Included in 4.62 4.62 2,583.36
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
ALLISON SECRETARIAL 1994 1994 0.00 C
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
FDIC 1994 1994 0.00
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
INDIANA ORAL & MAX SURGERY 1994 1994 0.00
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
PHILLIP D. BURROUGHS Included in 8.66 8.66 0.00
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
ROBERT LICHTENAUER 1993 1993 0.00
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
CASTLETON ORTHODONTICS 1993 1993 81.28
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
CASTLETON ORAL SURGERY 1992 1992 246.77
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
JACK ELLIS SHOWLEY 1993 1993 1,780.63
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
ASSOCIATED INSURANCE Included in 4.78 4.78 0.00 C
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
USAF N/A N/A 41,470.08
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
ASSOCIATED INSURANCE Included in 4.39 4.39 0.00 C
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
ART SOURCE Included in 2.61 2.61 0.00
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
GREAT CLIPS Included in 2.70 2.70 1,327.02
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
WEBSTERS SPORTING GOODS Included in 3.08 3.08 1,914.42
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
PLANNED PARENTHOOD Included in 2.33 2.33 0.00
- ----------------------------------------------------------------- ------------------------------------------ --------- ------
EXHIBIT "K"
TO PURCHASE AGREEMENT
-1-
85
LEASE SUMMARY
CASTLETON PARK *In the Notes column, please input all of the letters that apply.
EXHIBIT K (A) If the tenant has vacated or sublet any portion of their space.
LEASE SUMMARY REPORT (B) If the tenant has any unearned free rent or unpaid allowances.
REVISED 11/13/95 (C) If the tenant has any termination options.
CURRENT CURRENT
SQUARE LEASE LEASE MONTHLY MONTHLY TOTAL MONTHLY
TENANT SUITE FEET START DATE EXP. DATE BASE RENT ESCL. PYMT. RENT
- ----------------------------------------------------------------------------------- -----------------------------------------
INDPLS. CHURCH OF CHRIST 01-103 13,804 11 92 6 98 $4,875.00 $1,043.32 $7,040.31
- ----------------------------------------------------------------------------------- -----------------------------------------
OSCAR, INC. 02-125 21,804 9 92 12 94 7,004.00 0.00 7,004.84
- ----------------------------------------------------------------------------------- -----------------------------------------
WALKER RESEARCH 03-104 4,937 4 89 1 94 4,003.30 147.82 4,831.41
- ----------------------------------------------------------------------------------- -----------------------------------------
FAIRLEY & COMPANY 03-108 3,674 1 89 1 94 2,249.36 114.60 2,364.11
- ----------------------------------------------------------------------------------- -----------------------------------------
MARKS A. LEVY 03-110 331 3 91 3 94 167.30 14.36 181.84
- ----------------------------------------------------------------------------------- -----------------------------------------
BIOSOUND 04-190 26,341 1 90 4 91 14,003.02 1,463.73 13,466.71
- ----------------------------------------------------------------------------------- -----------------------------------------
FRAKES ENGINEERING 05-101 15,804 4 89 1 91 9,667.30 1,121.47 6,784.11
- ----------------------------------------------------------------------------------- -----------------------------------------
TRONITECH, INC. 06-102 11,932 1 91 11 91 5,238.94 0.00 5,238.94
- ----------------------------------------------------------------------------------- -----------------------------------------
JAMES MOORE, CPA 07-102 2,732 1 91 4 94 2,964.51 53.13 3,061.70
- ----------------------------------------------------------------------------------- -----------------------------------------
MOLD ENGINEERING 07-104 2,129 10 90 9 91 1,991.91 77.70 2,072.14
- ----------------------------------------------------------------------------------- -----------------------------------------
WIGEST CORPORATION 07-106 2,197 8 82 7 91 2,169.11 43.34 2,217.81
- ----------------------------------------------------------------------------------- -----------------------------------------
BROADWAY MARKETING, INC. 07-108 3,321 4 94 3 91 3,371.21 17.91 3,194.14
- ----------------------------------------------------------------------------------- -----------------------------------------
HIGH SCHOOL B-BALL CARDS 07-204 923 9 91 10 94 1,056.31 20.32 1,076.83
- ----------------------------------------------------------------------------------- -----------------------------------------
ABB POWER T&D 07-205 819 4 91 3 94 819.04 0.24 819.24
- ----------------------------------------------------------------------------------- -----------------------------------------
SHERWIN-WILLIAMS COMPANY 07-206 2,281 11 91 11 104 2,380.21 0.00 2,380.21
- ----------------------------------------------------------------------------------- -----------------------------------------
THOMAS HASEWINKEL 07-209 1,324 8 92 1 91 1,391.94 0.33 1,394.27
- ----------------------------------------------------------------------------------- -----------------------------------------
JEROME MODLIK 07-210 334 10 91 10 94 356.00 2.60 350.34
- ----------------------------------------------------------------------------------- -----------------------------------------
L. DAVID VANCIL, D.D.S. 07-211 893 4 91 1 94 900.23 4.11 993.71
- ----------------------------------------------------------------------------------- -----------------------------------------
LEG SPIDER VEIN 07-213 1,394 3 91 1 94 1,691.61 0.46 1,694.09
- ----------------------------------------------------------------------------------- -----------------------------------------
TOKOS MEDICAL CORPORATION 07-214 2,857 3 92 1 94 2,976.23 0.62 2,971.01
- ----------------------------------------------------------------------------------- ----------------------------------------
JOHN KING PRODUCTIONS 08-100 363 1 91 1 94 311.44 0.40 350.44
- ----------------------------------------------------------------------------------- -----------------------------------------
INFORMATION MGMT. GROUP 08-101 1,317 10 91 9 94 1,426.71 0.40 1,426.71
- ----------------------------------------------------------------------------------- -----------------------------------------
JAMES A. RUPP 08-103 403 10 94 1 94 443.87 4.04 447.71
- ----------------------------------------------------------------------------------- -----------------------------------------
KRAUSE'S WIDE WORLD SERVICES 08-105 111 1 93 11 93 123.11 4.29 124.32
- ----------------------------------------------------------------------------------- -----------------------------------------
ACCURA TAX SERVICE, INC. 08-106 580 2 91 6 94 390.99 0.04 599.99
- ----------------------------------------------------------------------------------- -----------------------------------------
ESTY LIMITED LIABILITY CO. 08-107 311 12 91 11 94 600.83 0.04 604.81
- ----------------------------------------------------------------------------------- -----------------------------------------
INTERLOGIC SYSTEMS, INC. 08-108 310 3 94 6 94 331.14 3.73 336.87
- ----------------------------------------------------------------------------------- -----------------------------------------
DONALD A. BROWN, CPA 08-109 301 11 91 11 94 331.61 0.40 331.61
- ----------------------------------------------------------------------------------- -----------------------------------------
ACME HEALTH SERVICES 08-112 1,960 2 91 11 91 2,043.83 0.60 2,043.81
- ----------------------------------------------------------------------------------- -----------------------------------------
IDF FORESTERS 08-120 2,083 1 84 12 91 2,461.91 164.18 2,626.32
- ----------------------------------------------------------------------------------- -----------------------------------------
INDIANA EXCHANGE, INC. 08-130 1,234 3 92 1 94 1,211.03 40.05 1,258.03
- ----------------------------------------------------------------------------------- -----------------------------------------
HERITAGE IND. MEDICAL 08-200 5,778 1 91 1 91 5,695.94 0.00 5,691.91
- ----------------------------------------------------------------------------------- -----------------------------------------
UNITED INSURANCE AGENCIES 08-202 1,208 1 93 1 94 1,228.11 39.72 1,261.83
- ----------------------------------------------------------------------------------- -----------------------------------------
R. K. BOWMAN, D.D.S. 08-203 1,537 1 83 12 97 1,604.04 35.82 1,696.86
- ----------------------------------------------------------------------------------- -----------------------------------------
ENOCHS MANUFACTURING 08-206 1,311 4 94 1 97 1,393.65 43.24 1,436.89
- ----------------------------------------------------------------------------------- -----------------------------------------
PHYSICIANS MUTUAL 08-215 1,855 4 94 1 94 1,803.09 30.94 1,050.89
- ----------------------------------------------------------------------------------- -----------------------------------------
MILLER & ASSOCS. 09-104 2,512 9 89 6 97 2,591.53 141.45 2,753.08
- ----------------------------------------------------------------------------------- -----------------------------------------
AMERICAN FAMILY INSURANCE 09-105 291 12 93 11 94 312.18 4.69 314.87
- ----------------------------------------------------------------------------------- -----------------------------------------
PRAXAIR, INC. 09-106 376 8 91 7 94 419.06 3.98 421.04
- ----------------------------------------------------------------------------------- -----------------------------------------
IARCC 09-107 779 11 90 11 96 655.40 34.39 689.79
- ----------------------------------------------------------------------------------- -----------------------------------------
PRO-MARK REALTORS 09-108 671 10 94 9 97 637.45 9.99 647.44
- ----------------------------------------------------------------------------------- -----------------------------------------
NORTON COMPANY 09-110 1,040 2 91 1 94 949.64 45.91 991.55
- ----------------------------------------------------------------------------------- -----------------------------------------
WOODMEN ACCIDENT & LIFE 09-112 1,231 5 91 1 97 1,206.40 10.33 1,304.71
- ----------------------------------------------------------------------------------- -----------------------------------------
REYNOLDS & REYNOLDS CO. 09-113 2,541 1 89 2 97 2,793.26 112.17 2,793.26
- ----------------------------------------------------------------------------------- -----------------------------------------
9/30/93 # OF LENGTH
R.E. TAX OP. EXPENSE SECURITY RENEWAL OF RENEWAL EXPANSION
TENANT BASE YR/AMT. BASE YR/AMT. DEPOSIT OPTIONS YEARS RENT OPTIONS NOTES*
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
INDPLS. CHURCH OF CHRIST Included in 1.19 1.19 $3,758.15 YES C
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
OSCAR, INC. N/A N/A 0.00
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
WALKER RESEARCH Included in 2.73 2.73 0.00
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
FAIRLEY & COMPANY Included in 2.73 2.73 2,284.04
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
MARKS A. LEVY Included in 3.92 3.92 0.00 YES
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
BIOSOUND Included in 8.94 8.94 0.00
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
FRAKES ENGINEERING Included in 1.08 1.08 6,582.40
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
TRONITECH, INC. Included in 1.63 1.63 0.00
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
JAMES MOORE, CPA Included in 4.17 4.17 3,163.89
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
MOLD ENGINEERING Included in 4.17 4.17 2,219.23 (MTM)
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
WIGEST CORPORATION Included in 5.01 5.01 0.00 C
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
BROADWAY MARKETING, INC. 1993 1993 3,372.25
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
HIGH SCHOOL B-BALL CARDS Included in 5.01 5.01 0.00
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
ABB P0WER T&D Included in 4.17 4.17 832.76
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
SHERWIN-WILLIAMS, COMPANY 1994 1994 1,097.28
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
THOMAS HASEWINKEL Included in 5.01 5.01 1,393.94
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
JEROME MODLIK 1994 1994 351.56
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
L. DAVID VANCIL, D.D.S. 1993 1993 964.23 C
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
LEG SPIDER VEIN 1994 1994 1,693.43
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
TOKOS MEDICAL CORPORATION Included in 5.01 5.01 2,861.91
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
JOHN KING PRODUCTIONS 1994 1994 358.46
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
INFORMATION MGMT. GROUP 1994 1994 1,426.75
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
JAMES A. RUPP 1993 1993 442.87
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
KRAUSE'S WIDE WORLD SERVICES Included in 5.01 5.01 859.67 C
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
ACCURA TAX SERVICE, INC. 1994 1994 509.89
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
ESTY LIMITED LIABILITY CO. 1994 1994 553.67
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
INTERLOGIC SYSTEMS, INC. 1993 1993 333.14
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
DONALD A. BROWN, CPA 1994 1994 0.00
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
ACME HEALTH SERVICES 1994 1994 2,045.85
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
IDF FORESTERS Included in 3.09 3.09 0.00
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
INDIANA EXCHANGE, INC. Included in 3.20 3.20 1,243.38 C
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
HERITAGE IND. MEDICAL 1994 1994 4,536.71
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
UNITED INSURANCE AGENCIES Included in 5.28 5.28 0.00
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
R. K. BOWMAN, D.D.S. 1982 1982 0.00
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
ENOCHS MANUFACTURING Included in 4.72 4.72 1,428.00
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
PHYSICIANS MUTUAL Included in 4.56 4.56 0.00
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
MILLER & ASSOCS. Included in 4.01 4.01 2,713.04
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
AMERICAN FAMILY INSURANCE Included in 4.64 4.64 317.86
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
PRAXAIR, INC. Included in 4.20 4.20 0.00
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
IARCC Included in 4.20 4.20 0.00
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
PRO-MARK REALTORS 1993 1993 637.45
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
NORTON COMPANY Included in 4.00 4.00 0.00
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
WOODMEN ACCIDENT & LIFE 1993 1993 1,206.40
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
REYNOLDS & REYNOLDS CO. Included in 3.91 3.91 0.00
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
EXHIBIT "K"
TO PURCHASE AGREEMENT
-2-
86
LEASE SUMMARY
CASTLETON PARK *In the Notes column, please input all of the letters that apply.
EXHIBIT K (A) If the tenant has vacated or sublet any portion of their space.
LEASE SUMMARY REPORT (B) If the tenant has any unearned free rent or unpaid allowances.
REVISED 11/13/95 (C) If the tenant has any termination options.
CURRENT CURRENT
SQUARE LEASE LEASE MONTHLY MONTHLY TOTAL MONTHLY
TENANT SUITE FEET START DATE EXP. DATE BASE RENT ESCL. PYMT. RENT
- ----------------------------------------------------------------------------------- -----------------------------------------
IDF FORESTERS 09-115 312 5 94 4 97 480.00 7.50 487.50
- ----------------------------------------------------------------------------------- -----------------------------------------
FOUNDATION PROPERTY MGMT. 09-202 418 10 94 9 97 497.92 7.12 505.14
- ----------------------------------------------------------------------------------- -----------------------------------------
MARKS A. LEVY, INC. 09-206 3,719 10 93 7 96 3,309.11 105.50 3,474.61
- ----------------------------------------------------------------------------------- -----------------------------------------
INDY LUBE SERVICES, INC. 09-209 2,694 10 94 9 96 2,727.60 33.60 2,761.20
- ----------------------------------------------------------------------------------- -----------------------------------------
WILLIAM TELLMAN D.D.S. 09-210 1,448 1 95 6 101 1,389.18 0.00 1,389.18
- ----------------------------------------------------------------------------------- -----------------------------------------
MARYBETH BRANDT, D.D.S. 09-216 1,189 11 94 10 97 1,325.00 17.71 1,342.71
- ----------------------------------------------------------------------------------- -----------------------------------------
EQUITY FINANCIAL SERVICES 10-100 942 3 95 6 98 942.80 0.00 942.80
- ----------------------------------------------------------------------------------- -----------------------------------------
LAWRENCE C. ARANY 10-102 858 3 92 9 97 840.13 19.59 859.62
- ----------------------------------------------------------------------------------- -----------------------------------------
JOHN C. WOLBERT 10-104 665 3 95 12 91 642.80 0.00 642.80
- ----------------------------------------------------------------------------------- -----------------------------------------
JAMES L. HUNTER 10-109 2,431 7 93 6 98 2,340.68 121.14 2,461.72
- ----------------------------------------------------------------------------------- -----------------------------------------
R. BAK C. SHIN, M.D. 10-110 2,047 1 92 12 96 2,192.44 179.41 2,371.85
- ----------------------------------------------------------------------------------- -----------------------------------------
RICHARD J. MOORE 10-111 436 7 94 6 97 437.00 9.71 446.71
- ----------------------------------------------------------------------------------- -----------------------------------------
VULCRAFT SALES 10-115 1,212 3 89 2 98 1,287.75 0.00 1,287.75
- ----------------------------------------------------------------------------------- -----------------------------------------
ATMS 10-204 1,111 12 93 11 96 1,084.71 11.92 1,096.63
- ----------------------------------------------------------------------------------- -----------------------------------------
EXECUTIVE STRATEGIES 10-207 1,472 5 93 4 96 1,361.40 105.89 1,467.29
- ----------------------------------------------------------------------------------- -----------------------------------------
HENRY P. THOMPSON COMPANY 10-208 608 9 95 8 98 997.17 0.00 997.17
- ----------------------------------------------------------------------------------- -----------------------------------------
CHRISTIAN MEDICAL & DENTAL 10-209 359 1 91 12 91 399.75 15.82 421.57
- ----------------------------------------------------------------------------------- -----------------------------------------
VEDA, INC. 10-212 4,883 2 95 3 100 4,713.94 0.00 4,713.94
- ----------------------------------------------------------------------------------- -----------------------------------------
KING, REIMAN, SKAGGS 11-118 3,319 11 91 10 99 2,867.74 111.10 2,941.14
- ----------------------------------------------------------------------------------- -----------------------------------------
METROPOLITAN INSURANCE 11-120 2,379 11 92 10 96 1,968.63 101.35 2,069.98
- ----------------------------------------------------------------------------------- -----------------------------------------
TECHNETICS, INC. 12-105 2,506 4 95 3 95 2,150.98 0.00 2,150.98
- ----------------------------------------------------------------------------------- -----------------------------------------
RUE EDUCATIONAL PUBLISHERS 12-109 4,712 7 93 6 95 3,380.86 117.34 3,498.20
- ----------------------------------------------------------------------------------- -----------------------------------------
ITO & KOBY DENTAL STUDIO 14-102 10,000 12 93 11 101 5,416.67 101.14 5,465.81
- ----------------------------------------------------------------------------------- -----------------------------------------
TECHNETICS INC. 14-105 13,771 4 95 10 97 8,262.60 19.64 8,282.24
- ----------------------------------------------------------------------------------- -----------------------------------------
USAF 15-400 88,000 7 87 4 97 85,873.31 0.00 85,873.31
- ----------------------------------------------------------------------------------- -----------------------------------------
STRONG INC. (ARBOR) 16-140 16,000 11 94 8 99 7,333.33 174.23 7,507.56
- ----------------------------------------------------------------------------------- -----------------------------------------
S.A.I.C. 17-130 11,524 3 89 12 99 11,524.01 0.00 11,524.01
- ----------------------------------------------------------------------------------- -----------------------------------------
ARBOR EXPRESS 17-140 8,641 6 94 8 98 5,848.14 29.02 5,877.16
- ----------------------------------------------------------------------------------- -----------------------------------------
TRIDENT FOODS, INC. 18-104 2,360 12 92 11 96 2,310.83 0.00 2,310.83
- ----------------------------------------------------------------------------------- -----------------------------------------
CONTROLLERSHIP GROUP 10-107 715 9 95 8 97 729.90 0.00 729.90
- ----------------------------------------------------------------------------------- -----------------------------------------
TOM HARRIS & ASSOCIATES 18-108 616 8 95 7 96 667.33 0.00 667.33
- ----------------------------------------------------------------------------------- -----------------------------------------
PRIMEPAY 18-111 5,667 12 91 11 99 5,248.42 210.69 5,559.11
- ----------------------------------------------------------------------------------- -----------------------------------------
UPS 18-200 7,214 12 94 11 96 6,703.00 0.00 6,703.00
- ----------------------------------------------------------------------------------- -----------------------------------------
BLUE LUSTRE HOME CARE 19-150 33,757 9 76 7 97 25,287.29 713.71 26,001.00
- ----------------------------------------------------------------------------------- -----------------------------------------
GROUNDWATER TECHNOLOGY 19-160 4,042 1 94 12 97 2,873.44 74.16 2,947.60
- ----------------------------------------------------------------------------------- -----------------------------------------
HELENA CHEMICAL 21-104 3,038 8 92 7 96 3,300.18 24.49 3,324.67
- ----------------------------------------------------------------------------------- -----------------------------------------
G.L.A. COLLECTION CO. 21-110 356 4 92 1 96 383.67 0.00 383.67
- ----------------------------------------------------------------------------------- -----------------------------------------
REDDING-TROY INSURANCE 21-111 3,195 7 91 1 97 3,021.94 61.83 3,083.77
- ----------------------------------------------------------------------------------- -----------------------------------------
VRG INTERNATIONAL 21-120 3,850 4 95 1 98 4,074.89 0.00 4,074.89
- ----------------------------------------------------------------------------------- -----------------------------------------
SPECIALTY SALES, INC. 21-121 1,141 8 94 12 97 1,348.94 0.00 1,348.94
- ----------------------------------------------------------------------------------- -----------------------------------------
PROMISE KEEPERS 21-127 1,628 6 94 1 97 1,390.58 20.61 1,410.69
- ----------------------------------------------------------------------------------- -----------------------------------------
TROTMAR, INC. 21-130 1,801 4 90 1 96 1,765.44 34.90 1,800.34
- ----------------------------------------------------------------------------------- -----------------------------------------
TROTMAR, INC. 21-133 221 8 90 1 94 110.50 0.00 110.50
- ----------------------------------------------------------------------------------- -----------------------------------------
LOVE, INC. 21-139 721 8 92 1 94 318.90 0.00 318.90
- ----------------------------------------------------------------------------------- -----------------------------------------
9/30/93 # OF LENGTH
R.E. TAX OP. EXPENSE SECURITY RENEWAL OF RENEWAL EXPANSION
TENANT BASE YR/AMT. BASE YR/AMT. DEPOSITS OPTIONS YEARS RENT OPTIONS NOTES*
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
IDS FORESTERS 1993 1993 0.00
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
FOUNDATION PROPERTY MGMT. 1993 1993 497.92 C
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
MARKS A. LEVY, INC. Included in 4.88 4.88 3,415.45
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
INDY LUBE SERVICES, INC. 1993 1993 2,763.38
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
WILLIAM TELLMAN D.D.S. 1994 1994 3,889.10
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
MARYBETH BRANDT, D.D.S. 1993 1993 1,325.60
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
EQUITY FINANCIAL SERVICES 1994 1994 942.60
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
LAWRENCE C. ARANY Included in 4.64 4.64 400.00 C
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
JOHN WOLBERT 1994 1994 0.00
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
JAMES L. HUNTER Included in 4.83 4.83 2,340.38
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
R. BAK C. SHIN, M.D. Included in 4.64 4.64 0.00 1 3 NEG
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
RICHARD J. MOORE 1993 1993 437.00 C
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
VULCRAFT SALES Included in 8.70 8.70 0.00
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
ATMS 1992 1992 1,073.02 C
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
EXECUTIVE STRATEGIES Included in 4.83 4.83 1,349.31
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
HENRY P. THOMPSON COMPANY 1994 1994 0.00
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
CHRISTIAN MEDICAL & DENTAL Included in 4.16 4.16 359.71 C
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
VEDA, INC. 1994 1994 4,713.96
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
KING, REIMAN, SKAGGS Included in 3.61 3.61 2,926.38
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
METROPOLITAN INSURANCE Included in 3.61 3.61 0.00 1 3 NEG
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
TECHNETICS, INC. 1994 1994 2,130.98 C
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
RUE EDUCATIONAL PUBLISHERS Included in 4.54 4.54 2,839.07 A
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
ITO & KOBY DENTAL STUDIO 1992 1992 1,713.28 2 3(EACH) NEG
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
TECHNETICS, INC. Included in 1.29 1.29 8,262.60
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
USAF N/A N/A 0.00 C
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
STRONG INC. (ARBOR) 1993 1993 0.00 1 3 NEG C
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
S.A.I.C. Included in 2.87 2.87 15,025.18
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
ARBOR EXPRESS 1993 1993 0.00 1 3 NEG
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
TRIDENT FOODS, INC. Included in 5.34 5.34 0.00
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
CONTROLLERSHIP GROUP 1994 1994 729.60
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
TOM HARRIS & ASSOCIATES 1994 1994 667.33
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
PRIMEPAY Included in 4.66 4.66 0.00
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
UPS 1994 1994 0.00 1 3 NEG YES
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
BLUE LUSTRE HOME CARE 1977 1977 97.83
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
GROUNDWATER TECHNOLOGY 1993 1993 0.00
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
HELENA CHEMICAL Included in 4.00 4.00 3,300.88
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
G.L.A. COLLECTION CO. 1994 1994 383.47
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
REDDING-TROY INSURANCE Included in 4.80 4.80 8,779.79
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
VRG INTERNATIONAL 1994 1994 4,283.33 1 3 NEG
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
SPECIALTY SALES, INC. 1994 1994 1,410.85
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
PROMISE KEEPERS 1993 1993 1,390.38 YES
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
TROTMAR, INC. Included in 4.16 4.16 1,783.00
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
TROTMAR, INC. N/A N/A 0.00
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
LOVE, INC. 1994 1994 0.00
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
EXHIBIT "K"
TO PURCHASE AGREEMENT
-3-
87
LEASE SUMMARY
CASTLETON PARK *In the Notes column, please input all of the letters that apply.
EXHIBIT K (A) If the tenant has vacated or sublet any portion of their space.
LEASE SUMMARY REPORT (B) If the tenant has any unearned free rent or unpaid allowances.
REVISED 11/13/95 (C) If the tenant has any termination options.
CURRENT CURRENT
SQUARE LEASE LEASE MONTHLY MONTHLY TOTAL MONTHLY
TENANT SUITE FEET START DATE EXP. DATE BASE RENT ESCL. PYMT. RENT
- ----------------------------------------------------------------------------------- -----------------------------------------
WALKER RESEARCH 40-120 4,560 1 94 1 96 3,347.80 60.30 3,408.10
- ----------------------------------------------------------------------------------- -----------------------------------------
HEALTH CLUB AREA 50-171 8,104 11 92 11 99 2,479.17 0.00 2,479.17
- ----------------------------------------------------------------------------------- -----------------------------------------
9/30/93 # OF LENGTH
R.E. TAX OP. EXPENSE SECURITY RENEWAL OF RENEWAL EXPANSION
TENANT BASE YR/AMT. BASE YR/AMT. DEPOSITS OPTIONS YEARS RENT OPTIONS NOTES*
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
WALKER RESEARCH 1993 1993 0.00
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
HEALTH CLUB AREA N/A N/A 0.00
- ----------------------------------------------------------------- ----------------------------------------- --------- ------
EXHIBIT "K"
TO PURCHASE AGREEMENT
-4-
88
LEASE DEFAULTS
CASTLETON PARK
AGING REPORT (DETAILED)
AS OF 11/16/95
TENANT BUILDING/ BALANCE 1-30 31-60 61-90 0VER 90
NAME SITE DUE DAYS* DAYS DAYS DAYS COMMENTS
- ---------------------------------------------------------------------------------------------------------------------------------
Indianapolis Church of Christ 01-103 $ 2,726.91 $ 2,726.91
- ---------------------------------------------------------------------------------------------------------------------------------
Walker Research 03-104 1,105.00 1,106.00
- ---------------------------------------------------------------------------------------------------------------------------------
Franker Engineering 03-101 6784.17 6784.17
- ---------------------------------------------------------------------------------------------------------------------------------
Tronitech, Inc. 06-102 1,238.96 5,238.98
- ---------------------------------------------------------------------------------------------------------------------------------
Meid Engineering 07-104 2,072.14 2,072.14
- ---------------------------------------------------------------------------------------------------------------------------------
Broadway Marketing, Inc. 07-104 3,713.67 3,390.16 323.31 Initial tenant work +
interest
- ---------------------------------------------------------------------------------------------------------------------------------
H.S. Basketball Cards 07-104 931.78 931.76
- ---------------------------------------------------------------------------------------------------------------------------------
Sherwin Williams 07-106 398.97 398.97
- ---------------------------------------------------------------------------------------------------------------------------------
L. David Vencil, D.D.S. 07-111 992.78 992.78
- ---------------------------------------------------------------------------------------------------------------------------------
Indiana Exchange 08-200 1,258.05 1,258.05
- ---------------------------------------------------------------------------------------------------------------------------------
American Family Insurance 09-105 316.87 316.87
- ---------------------------------------------------------------------------------------------------------------------------------
Praxair, Inc. 09-106 425.04 425.04
- ---------------------------------------------------------------------------------------------------------------------------------
Equity Financial Services 10-100 942.00 942.00
- ---------------------------------------------------------------------------------------------------------------------------------
Equity Financial Services 10-109A 1,403.50 1,403.50
- ---------------------------------------------------------------------------------------------------------------------------------
**Management Service Systems 10-208 2,698.00 2,698.00 They have vacated the
park
- ---------------------------------------------------------------------------------------------------------------------------------
Fame, Inc. 10-112 691.34 691.34
- ---------------------------------------------------------------------------------------------------------------------------------
Strong, Inc. 16-148 7,806.06 7,806.06
- ---------------------------------------------------------------------------------------------------------------------------------
EAIC 17-130 325.00 325.00
- ---------------------------------------------------------------------------------------------------------------------------------
Arbor Express 17-140 6,049.68 6,049.68
- ---------------------------------------------------------------------------------------------------------------------------------
Blue Luster 19-150 26,360.39 26,360.29
- ---------------------------------------------------------------------------------------------------------------------------------
The Sherwin-Williams Company 21-111 474.30 26.35 26.35 421.60 Annual 1994 Escalation
Billing + Monthly
Escalation Increase
- ---------------------------------------------------------------------------------------------------------------------------------
Trotmar, Inc. 21-130 3,591.96 1,800.34 1,791.62
- ---------------------------------------------------------------------------------------------------------------------------------
Trotmar, Inc. 21-133 311.50 110.50 112.50 110.50 Slow in paying
- ---------------------------------------------------------------------------------------------------------------------------------
Trustmark Insurance Company 26-130 3.00 1.00 Key charge
- ---------------------------------------------------------------------------------------------------------------------------------
Radio Indianapolis, Inc. 27-200 21,466.04 14,386.63 14,130.15 (30.76) Credit will be applied to
12/95 rent
- ---------------------------------------------------------------------------------------------------------------------------------
Whitehall Funding 29-121 5,351.88 3,331.88
- ---------------------------------------------------------------------------------------------------------------------------------
Midwest Career College 29-124 7,001.02 3,500.51 3,500.51
- ---------------------------------------------------------------------------------------------------------------------------------
National Council on Comp. Ins. 30-123 131.46 131.46
- ---------------------------------------------------------------------------------------------------------------------------------
The Kroger Company 30-130 1,209.51 403.17 403.17 403.17 Monthly Escalation
Increase
- ---------------------------------------------------------------------------------------------------------------------------------
Broadway Marketing, Inc. 30-131 1,503.27 501.09 501.09 501.09 Slow in paying
- ---------------------------------------------------------------------------------------------------------------------------------
Cutler-Hammer, Inc. 30-111 150.00 150.00
- ---------------------------------------------------------------------------------------------------------------------------------
The Kroger Company 30-112 120.66 40.22 40.22 40.22 Monthly Escalation
Increase
- ---------------------------------------------------------------------------------------------------------------------------------
The Kroger Company 30-118 2,288.64 762.88 762.88 762.88 Monthly Escalation
Increase
- ---------------------------------------------------------------------------------------------------------------------------------
The Kroger Company 31-160 6,055.59 2,018.53 2,018.53 2,018.53 Monthly Escalation
Increase
- ---------------------------------------------------------------------------------------------------------------------------------
Tronitech, Inc. 32-142 2,279.71 1,302.67 977.04 Annual 1994 Escalation
Billing
- ---------------------------------------------------------------------------------------------------------------------------------
IRC Audio 30-112 7,017.16 3,534.77 3,542.39
- ---------------------------------------------------------------------------------------------------------------------------------
IRC Music 33-117 1,209.09 603.54 605.55
- ---------------------------------------------------------------------------------------------------------------------------------
Chartwell Midwest 35-110 (70.88) (70.88)
- ---------------------------------------------------------------------------------------------------------------------------------
Independent Appraisals, Inc. 42-110 1,202.56 2,601.28 2,601.28
- ---------------------------------------------------------------------------------------------------------------------------------
Wiley & Associates, Inc. 42-112 1,104.36 1,304.36
- ---------------------------------------------------------------------------------------------------------------------------------
Alison Secretarial 42-120 3,499.43 3,499.43
- ---------------------------------------------------------------------------------------------------------------------------------
FDIC 42-121 100.00 100.00
- ---------------------------------------------------------------------------------------------------------------------------------
EXHIBIT "K-1"
-1-
89
CASTLETON PARK
AGING REPORT (DETAILED)
AS OF 11/16/95
TENANT BUILDING/ BALANCE 1-30 31-60 61-90 0VER 90
NAME SITE DUE DAYS* DAYS DAYS DAYS COMMENTS
- ---------------------------------------------------------------------------------------------------------------------------------
Indiana Oral & Max 45-103 785.03 785.03
- ---------------------------------------------------------------------------------------------------------------------------------
Philip D. Burroughs, Atty. 45-103 1,679.26 839.63 839.63
- ---------------------------------------------------------------------------------------------------------------------------------
Castleton Oral & Max. 45-203 6,579.03 6,579.03
- ---------------------------------------------------------------------------------------------------------------------------------
Jack Ellis Showley, D.D.S. 45-204 5,519.35 1,839.83 1,839.25 1,839.83
- ---------------------------------------------------------------------------------------------------------------------------------
Associated Insurance Companies 45-116 377.50 377.50 Initial tenant work
- ---------------------------------------------------------------------------------------------------------------------------------
TOTALS $164,931.99 $119,053.99 $12,716.72 $9,406.54 $3,769.85
- ---------------------------------------------------------------------------------------------------------------------------------
* 1-30 columns is all current rent, unless otherwise noted.
** Vacated park.
EXHIBIT "K-1"
-2-
90
PROPERTY CONTRACTS
VENDOR CONTRACT TYPE COMMENCEMENT DATE
- ------ ------------- -----------------
Dover Elevators Master Maintenance 6/15/91
Agreement for two (2)
passenger elevators Serial
#E-72396-7.
Dover Elevators Master Maintenance 6/15/91
Agreement for one (1)
passenger elevator Serial
#E-82793.
6741 Corporation Station Charge Account 4/2/93
Agreement.
Cavinder Elevators, Inc. Elevator Maintenance 1/1/89
Proposal for seventeen (17)
Otis Hydraulic Elevators.
Modern Vending, Inc. Vending Machines 12/28/93-12/28/96
AAA Services, Inc. Window Cleaning Service 1/15/93-1/15/94
(renews annually)
Plymate, Inc. Service Agreement for 9/3/93-9/3/95
Textiles
Federal Express, Inc. Drop Box Agreement 7/15/94
United Parcel Service Letter Center Agreement - 4/3/93-4/3/96
6505 Building
United Parcel Service Letter Center Agreement - 11/14/94-11/14/95
Aetna Building
United Parcel Service Letter Center Agreement - 8/15/94-8/15/95
8000 Knue Road
American National Skyline Window Cleaning Service 6/5/95-6/5/96
This itemization excludes the thirteen (13) vehicles that are leased by
Castleway Management Corp. and subsequently subleased to EQK I Realty
Investors.
EXHIBIT "L"
TO PURCHASE AGREEMENT
-1-
91
ASSET MANAGERS
Gary Werkheiser
Don Henry
EXHIBIT "M"
TO PURCHASE AGREEMENT
-1-