Common use of Leasing Clause in Contracts

Leasing. Without limiting the foregoing, but subject to the provisions of this Section 7.2, from the Agreement Date through the Due Diligence Deadline LGI De shall, in the ordinary course, negotiate with prospective tenants and enter into new leases (on terms that LGI De believes, in its commercially reasonable business judgment, to be market terms), enforce the terms of the Leases in all material respects and perform in all material respects all of landlord's obligations under the Leases. LGI De will promptly notify NetREIT of any new leases entered into by, or proposals to enter into new leases made by, LGI De at least two (2) Business Days prior to the Due Diligence Deadline and provide NetREIT with a summary of the terms of each such new lease or proposal. After the Due Diligence Deadline, and at least three (3) Business Days prior to becoming legally bound with respect to any new lease or other agreement or modification of the existing Leases or other agreement, LGI De shall consult with and seek the consent of NetREIT, and shall provide reasonable detail to NetREIT including, at NetREIT's request, copies of the relevant documentation, with respect thereto. Any consent to be given by NetREIT pursuant to this Section 7.2 shall be granted or withheld in NetREIT's sole and absolute discretion, and shall be deemed denied if NetREIT does not respond in writing to LGI De's request for said consent within five (5) Business Days after receipt thereof. Prior to the Closing Date, LGI De shall have the right, but not the obligation (except to the extent that LGI De's failure to act shall constitute a waiver of such rights or remedies), to enforce the rights and remedies of the landlord under the Leases, by summary proceedings or otherwise, but after the expiration of the Due Diligence Deadline, LGI De shall not apply all or any portion of any security deposit then held by LGI De toward any loss or damage incurred by LGI De by reason of any defaults by any tenants under the Leases. With respect to any application by LGI De, prior to the expiration of the Due Diligence Deadline, of any tenant security deposit held by LGI De, LGI De will deliver, in connection with any such application, written notice to the applicable tenant(s) under the Leases indicating that its security deposit has been or is being so applied. LGI De shall provide NetREIT with written notice within three (3) Business Days after any action taken by LGI De pursuant to the foregoing provisions.

Leasing. Without limiting The Manager shall operate and lease the foregoingManaged Containers as part of its Container Fleet and shall perform all managerial and administrative functions and provide or arrange for the provision of all services and documentation of any nature which it considers necessary or desirable for such operation and leasing. The Manager shall, but in compliance with the Servicing Standard, take all actions the Manager deems appropriate to ensure compliance by the Lessees with the terms of any Lease Agreement, including the exercise of the rights of the lessor thereunder. 3.3.1 With respect to the Managed Containers, the Manager shall use reasonable efforts to include in the terms of lease agreements with lessees a provision requiring lessees to comply with Applicable Law affecting the Managed Containers and their use, operation and storage while the Managed Containers are on-hire and the Manager shall use reasonable efforts to include in the terms of depot agreements with third-party storage and repair depots a provision requiring the depots to comply with Applicable Law affecting the Managed Containers while the Managed Containers are off-hire and stored in the depot. 3.3.2 The Manager will monitor and record the status of the Managed Containers in the same manner as for containers held for its own account, i.e., for each Managed Container it will record the on-hire location, the date of on-hire and the lessee to whom the Managed Container is on-hire, the off-hire date of the Managed Container and the off-hire location, and the depot where the Managed Container is located while off-hire. 3.3.3 The Manager shall follow the Credit and Collection Policy with respect to the leasing of the Managed Containers and, subject to the provisions terms of this Section 7.2such Credit and Collection Policy, the Manager may, in its sole discretion (a) determine and approve the creditworthiness of any lessee (though the Manager makes no representation or warranty to the Owner as to the solvency or financial stability of any lessee), (b) determine that any amount due from any lessee is not collectible, (c) institute and prosecute legal proceedings against a lessee as permitted by Applicable Law, (d) terminate or cancel any Lease Agreement, (e) recover possession of the Agreement Date through Managed Containers from any lessee, (f) settle, compromise or release any proceeding or claim against a lessee in the Due Diligence Deadline LGI De shallname of the Manager or, if appropriate, in the ordinary coursename of the Owner, negotiate or (g) reinstate any Lease Agreement. 3.3.4 In performing its duties under this Agreement, the Manager shall use reasonable efforts to comply with prospective tenants and enter the Concentration Limits when entering into new leases (on terms that LGI De believesLease Agreements and, in its commercially reasonable business judgmentany event, to be market terms)shall not, enforce without the terms prior written consent of the Leases in all material respects and perform in all material respects all of landlord's obligations under the Leases. LGI De will promptly notify NetREIT of any new leases entered into byRequisite Global Majority, lease all, or proposals substantially all, of the Managed Containers to enter into new an Affiliate of the Manager or to a single lessee. 3.3.5 The Manager hereby acknowledges that the Manager and its Affiliates are holding the leases made by, LGI De at least two (2) Business Days prior relating to the Due Diligence Deadline and provide NetREIT with a summary of the terms of each such new lease or proposal. After the Due Diligence Deadline, and at least three Managed Containers (3) Business Days prior to becoming legally bound with respect to any new lease or other agreement or modification of the existing Leases or other agreement, LGI De shall consult with and seek the consent of NetREIT, and shall provide reasonable detail to NetREIT including, at NetREIT's request, copies of the relevant documentation, with respect thereto. Any consent to be given by NetREIT pursuant to this Section 7.2 shall be granted or withheld in NetREIT's sole and absolute discretion, and shall be deemed denied if NetREIT does not respond in writing to LGI De's request for said consent within five (5) Business Days after receipt thereof. Prior to the Closing Date, LGI De shall have the right, but not the obligation (except only to the extent that LGI De's failure such leases relate to act shall constitute a waiver of such rights or remediesthe Managed Containers), to enforce on behalf of, and for the rights and remedies of benefit of, the landlord under the Leases, by summary proceedings or otherwise, but after the expiration of the Due Diligence Deadline, LGI De shall not apply all or any portion of any security deposit then held by LGI De toward any loss or damage incurred by LGI De by reason of any defaults by any tenants under the Leases. With respect to any application by LGI De, prior to the expiration of the Due Diligence Deadline, of any tenant security deposit held by LGI De, LGI De will deliver, in connection with any such application, written notice to the applicable tenant(s) under the Leases indicating that its security deposit has been or is being so applied. LGI De shall provide NetREIT with written notice within three (3) Business Days after any action taken by LGI De pursuant to the foregoing provisionsIndenture Trustee.

Leasing. Without limiting The Manager shall operate and lease the foregoingManaged Containers as part of its Container Fleet and shall perform all managerial and administrative functions and provide or arrange for the provision of all services and documentation of any nature which it considers necessary or desirable for such operation and leasing. The Manager shall, but in compliance with the Servicing Standard, take all actions the Manager deems appropriate to ensure compliance by the Lessees with the terms of any Lease Agreement, including the exercise of the rights of the lessor thereunder. 3.3.1 With respect to the Managed Containers, the Manager shall use reasonable efforts to include in the terms of lease agreements with lessees a provision requiring lessees to comply with Applicable Law affecting the Managed Containers and their use, operation and storage while the Managed Containers are on-hire and the Manager shall use reasonable efforts to include in the terms of depot agreements with third-party storage and repair depots a provision requiring the depots to comply with Applicable Law affecting the Managed Containers while the Managed Containers are off-hire and stored in the depot. 3.3.2 The Manager will monitor and record the status of the Managed Containers in the same manner as for containers held for its own account, i.e. for each Managed Container it will record the on-hire location, the date of on-hire and the lessee to whom the Managed Container is on-hire, the off-hire date of the Managed Container and the off-hire location, and the depot where the Managed Container is located while off-hire. 3.3.3 The Manager shall follow the Credit and Collection Policy with respect to the leasing of the Managed Containers and, subject to the provisions terms of this Section 7.2such Credit and Collection Policy, the Manager may, in its sole discretion (a) determine and approve the creditworthiness of any lessee (though the Manager makes no representation or warranty to the Owner as to the solvency or financial stability of any lessee), (b) determine that any amount due from any lessee is not collectible, (c) institute and prosecute legal proceedings against a lessee as permitted by Applicable Law, (d) terminate or cancel any Lease Agreement, (e) recover possession of the Agreement Date through Managed Containers from any lessee, (f) settle, compromise or release any proceeding or claim against a lessee in the Due Diligence Deadline LGI De shallname of the Manager or, if appropriate, in the ordinary coursename of the Owner, negotiate or (g) reinstate any Lease Agreement. 3.3.4 In performing its duties under this Agreement, the Manager shall use reasonable efforts to comply with prospective tenants and enter the Concentration Limits when entering into new leases (on terms that LGI De believesLease Agreements and, in its commercially reasonable business judgmentany event, to be market terms)shall not, enforce without the terms prior written consent of the Leases in all material respects and perform in all material respects all of landlord's obligations under the Leases. LGI De will promptly notify NetREIT of any new leases entered into byRequisite Global Majority, lease all, or proposals substantially all, of the Managed Containers to enter into new an Affiliate of the Manager or to a single lessee. 3.3.5 The Manager hereby acknowledges that the Manager and its Affiliates are holding the leases made by, LGI De at least two (2) Business Days prior relating to the Due Diligence Deadline and provide NetREIT with a summary of the terms of each such new lease or proposal. After the Due Diligence Deadline, and at least three Managed Containers (3) Business Days prior to becoming legally bound with respect to any new lease or other agreement or modification of the existing Leases or other agreement, LGI De shall consult with and seek the consent of NetREIT, and shall provide reasonable detail to NetREIT including, at NetREIT's request, copies of the relevant documentation, with respect thereto. Any consent to be given by NetREIT pursuant to this Section 7.2 shall be granted or withheld in NetREIT's sole and absolute discretion, and shall be deemed denied if NetREIT does not respond in writing to LGI De's request for said consent within five (5) Business Days after receipt thereof. Prior to the Closing Date, LGI De shall have the right, but not the obligation (except only to the extent that LGI De's failure such leases relate to act shall constitute a waiver of such rights or remediesthe Managed Containers), to enforce on behalf of, and for the rights and remedies of benefit of, the landlord under the Leases, by summary proceedings or otherwise, but after the expiration of the Due Diligence Deadline, LGI De shall not apply all or any portion of any security deposit then held by LGI De toward any loss or damage incurred by LGI De by reason of any defaults by any tenants under the Leases. With respect to any application by LGI De, prior to the expiration of the Due Diligence Deadline, of any tenant security deposit held by LGI De, LGI De will deliver, in connection with any such application, written notice to the applicable tenant(s) under the Leases indicating that its security deposit has been or is being so applied. LGI De shall provide NetREIT with written notice within three (3) Business Days after any action taken by LGI De pursuant to the foregoing provisionsIndenture Trustee.

Leasing. Without limiting From and after the foregoingEffective Date, but Property Owner shall not enter into any new Tenant Leases or amend, modify, supplement, terminate or extend the existing Tenant Leases without the prior written consent of CBL/OP. CBL/OP shall have 5 Business Days following CBL/OP's receipt of any such draft of a proposed new Tenant Lease or proposed amendment, modification, supplement, termination or extension of a Tenant Lease to review and approve such draft, which approval shall not be unreasonably withheld, delayed or conditioned with respect to the Pending Transactions (subject to clause (c) below), and which approval shall be in CBL/OP's sole discretion in all other cases (except as provided in the provisions last sentence of this Section 7.2, from the Agreement Date through the Due Diligence Deadline LGI De shall, 8.4). The failure of CBL/OP to notify Property Owner in the ordinary course, negotiate with prospective tenants and enter into new leases (on terms that LGI De believes, in its commercially reasonable business judgment, to be market terms), enforce the terms writing within 5 Business Days of the Leases in all material respects and perform in all material respects all of landlordCBL/OP's obligations under the Leases. LGI De will promptly notify NetREIT disapproval of any draft delivered to CBL/OP shall be deemed to constitute CBL/OP's approval thereof. Notwithstanding anything to the contrary contained herein, CBL/OP shall not be entitled to disapprove any term, condition or other provision of a subsequent draft of a proposed new leases entered into byTenant Lease or a subsequent draft of a proposed amendment, modification, supplement, termination or extension of a Tenant Lease delivered to CBL/OP which (a) has not been changed or modified from any prior draft approved or deemed approved by CBL/OP, or proposals (b) constitutes merely a clarification of a term or provision of a proposed new Tenant Lease or proposed amendment, modification, supplement, termination or extension of a Tenant Lease without changing the substance thereof or another immaterial change or revision to enter into a proposed new leases made byTenant Lease or proposed amendment, LGI De at least two modification, supplement, termination or extension of a Tenant Lease, or (2c) Business Days prior to the Due Diligence Deadline and provide NetREIT with a summary of the terms of each such new lease or proposal. After the Due Diligence Deadline, and at least three (3) Business Days prior to becoming legally bound is set forth on Exhibit W with respect to any new lease or other agreement or modification of the existing Leases or other agreement, LGI De shall consult with and seek the consent of NetREIT, and shall provide reasonable detail to NetREIT including, at NetREIT's request, copies of the relevant documentation, with respect thereto. Any consent to be given by NetREIT pursuant to this Section 7.2 shall be granted or withheld in NetREIT's sole and absolute discretion, and shall be deemed denied if NetREIT does not respond in writing to LGI De's request for said consent within five (5) Business Days after receipt thereof. Prior to the Closing Date, LGI De shall have the right, but not the obligation (except to the extent that LGI De's failure to act shall constitute a waiver of such rights or remedies), to enforce the rights and remedies of the landlord under the Leases, by summary proceedings or otherwise, but after the expiration of the Due Diligence Deadline, LGI De shall not apply all or any portion of any security deposit then held by LGI De toward any loss or damage incurred by LGI De by reason of any defaults by any tenants under the Leases. With respect to any application by LGI De, prior to the expiration of the Due Diligence Deadline, of any tenant security deposit held by LGI De, LGI De will deliver, in connection with any such application, written notice to the applicable tenant(s) under the Leases indicating that its security deposit has been or is being so applied. LGI De shall provide NetREIT with written notice within three (3) Business Days after any action taken by LGI De pursuant to the foregoing provisionsPending Transactions.

Leasing. Without limiting (a) The Aircraft Lease Agreement will generally provide a Scheduled Delivery Month. Unless a specific Scheduled Delivery Week or a specific Scheduled Delivery Date has been agreed in the foregoingAircraft Lease Agreement, Lessor shall notify Lessee of the Scheduled Delivery Week as soon as possible, but subject no later than thirty (30) days prior to the provisions anticipated Delivery Date, and unless a specific Scheduled Delivery Date has been agreed in the Aircraft Lease Agreement, Lessor shall notify Lessee of the Scheduled Delivery Date as soon as practicable but no later than one (1) week prior to the Scheduled Delivery Week, and Lessor shall notify Lessee of any change in the Scheduled Delivery Date as soon as practicable thereafter. Subject to Section 4.4, Lessor will lease the Aircraft to Lessee and Lessee will take the Aircraft on lease for the Term, which shall be evidenced by Lessee's execution of Lease Supplement No. (b) If (i) Lessee is unwilling or unable to accept delivery of the Aircraft on the date on which Lessor tenders the Aircraft for Delivery to Lessee under and in accordance with Section 4.3(a), or Lessee fails to fulfill any Lessor Condition Precedent on or before such date, and (ii) the Lessee Conditions Precedent are met (or would reasonably be expected to be met if Delivery had occurred), then the Rent Commencement Date for the Aircraft shall be deemed to have occurred on the date on which the Aircraft is tendered by Lessor for Delivery in accordance with subsection (ii) of this Section 7.24.1(b), and Lessee shall be obligated to pay Rent for the Aircraft on and from such date regardless of whether the Agreement Delivery Date through the Due Diligence Deadline LGI De shalloccurs or whether Lessee executes Lease Supplement No. 1, but Lessor shall have no obligation to deliver, and Lessee shall have no lease interest in the ordinary courseAircraft or other right to, negotiate with prospective tenants and enter into new leases (on terms that LGI De believes, in its commercially reasonable business judgment, to be market terms), enforce the terms possession of the Leases Aircraft unless and until Lessee fulfills all Lessor Conditions Precedent as and when provided in all material respects the Lease and perform in all material respects all of landlord's obligations under the Leases. LGI De will promptly notify NetREIT of any new leases entered into by, or proposals to enter into new leases made by, LGI De at least two (2) Business Days prior to the Due Diligence Deadline and provide NetREIT with a summary Lessee accepts delivery of the terms Aircraft as evidenced by its execution of each such new lease or proposalLease Supplement No. After the Due Diligence Deadline1, and at least three so long as no Default has occurred and is continuing. LESSEE WILL BE RESPONSIBLE FOR ALL RISKS ASSOCIATED WITH (3I) Business Days prior to becoming legally bound with respect to any new lease or other agreement or modification of the existing Leases or other agreement, LGI De shall consult with and seek the consent of NetREIT, and shall provide reasonable detail to NetREIT including, at NetREIT's request, copies of the relevant documentation, with respect thereto. Any consent to be given by NetREIT pursuant to this Section 7.2 shall be granted or withheld in NetREIT's sole and absolute discretion, and shall be deemed denied if NetREIT does not respond in writing to LGI De's request for said consent within five THE USE AND OPERATION OF THE AIRCRAFT AND (5II) Business Days after receipt thereof. Prior to the Closing Date, LGI De shall have the right, but not the obligation (except to the extent that LGI De's failure to act shall constitute a waiver of such rights or remedies), to enforce the rights and remedies of the landlord under the Leases, by summary proceedings or otherwise, but after the expiration of the Due Diligence Deadline, LGI De shall not apply all or any portion of any security deposit then held by LGI De toward any loss or damage incurred by LGI De by reason of any defaults by any tenants under the Leases. With respect to any application by LGI De, prior to the expiration of the Due Diligence Deadline, of any tenant security deposit held by LGI De, LGI De will deliver, in connection with any such application, written notice to the applicable tenant(s) under the Leases indicating that its security deposit has been or is being so applied. LGI De shall provide NetREIT with written notice within three (3) Business Days after any action taken by LGI De pursuant to the foregoing provisionsANY LOSS OF OR DAMAGE TO THE AIRCRAFT FROM THE DELIVERY DATE UNTIL POSSESSION OF THE AIRCRAFT IS RETURNED TO LESSOR ON THE RETURN OCCASION AND LESSOR EXECUTES AND DELIVERS THE ACKNOWLEDGEMENT CONTEMPLATED BY SECTION 12.4.

Leasing. Without limiting The following shall apply (a) so long as the foregoingMezzanine Loan is outstanding and the Combined LTV is greater than 80%, but subject or (b) an Event of Default is continuing: Borrower shall not enter into a proposed Material Lease or a proposed renewal, extension or modification of an existing Material Lease without the prior written consent of Lender, which consent shall not, so long as no Event of Default is continuing, be unreasonably withheld or delayed. Prior to the provisions seeking Lender’s consent to any Material Lease, Borrower shall deliver to Lender a copy of this Section 7.2, such proposed lease (a “Proposed Material Lease”) blacklined to show changes from the standard form of Lease approved by Lender and then being used by Borrower. Lender shall approve or disapprove each Proposed Material Lease or proposed renewal, extension or modification of an existing Material Lease for which Lender’s approval is required under this Agreement Date through the Due Diligence Deadline LGI De shall, in the ordinary course, negotiate with prospective tenants and enter into new leases within five (on terms that LGI De believes, in its commercially reasonable business judgment, to be market terms), enforce the terms of the Leases in all material respects and perform in all material respects all of landlord's obligations under the Leases. LGI De will promptly notify NetREIT of any new leases entered into by, or proposals to enter into new leases made by, LGI De at least two (25) Business Days prior of the submission by Borrower to Lender of a written request for such approval, accompanied by a final copy of the Proposed Material Lease or proposed renewal, extension or modification of an existing Material Lease. If requested by Borrower, Lender will grant conditional approvals of Proposed Material Leases or proposed renewals, extensions or modifications of existing Material Leases at any stage of the leasing process, from initial “term sheet” through negotiated lease drafts, provided that Lender shall retain the right to disapprove any such Proposed Material Lease or proposed renewal, extension or modification of an existing Material Lease, if subsequent to any preliminary approval material changes are made to the Due Diligence Deadline terms previously approved by Lender, or additional material terms are added that had not previously been considered and provide NetREIT approved by Lender in connection with such Proposed Material Lease or proposed renewal, extension or modification of an existing Material Lease. Provided that no Event of Default is continuing, if Borrower provides Lender with a summary of the terms of each such new lease written request for approval (which written request shall specifically refer to this Section 5.10.2 and shall explicitly state in 14-point bold type that failure by Lender to approve or proposal. After the Due Diligence Deadline, and at least three disapprove within five (35) Business Days prior will constitute a deemed approval) and Lender fails to becoming legally bound with respect to any new lease or other agreement or modification of reject the existing Leases or other agreement, LGI De shall consult with and seek the consent of NetREIT, and shall provide reasonable detail to NetREIT including, at NetREIT's request, copies of the relevant documentation, with respect thereto. Any consent to be given by NetREIT pursuant to this Section 7.2 shall be granted or withheld in NetREIT's sole and absolute discretion, and shall be deemed denied if NetREIT does not respond request in writing delivered to LGI De's request for said consent Borrower within five (5) Business Days after receipt thereof. Prior to the Closing Date, LGI De shall have the right, but not the obligation (except to the extent that LGI De's failure to act shall constitute a waiver of such rights or remedies), to enforce the rights and remedies by Lender of the landlord under request, the LeasesProposed Material Lease or proposed renewal, extension or modification of an existing Material Lease shall be deemed approved by summary proceedings Lender, and Borrower shall be entitled to enter into such Proposed Material Lease or otherwiseproposed renewal, but after the expiration extension or modification of the Due Diligence Deadline, LGI De shall not apply all or any portion of any security deposit then held by LGI De toward any loss or damage incurred by LGI De by reason of any defaults by any tenants under the Leases. With respect to any application by LGI De, prior to the expiration of the Due Diligence Deadline, of any tenant security deposit held by LGI De, LGI De will deliver, in connection with any such application, written notice to the applicable tenant(s) under the Leases indicating that its security deposit has been or is being so applied. LGI De shall provide NetREIT with written notice within three (3) Business Days after any action taken by LGI De pursuant to the foregoing provisionsan existing Material Lease.

Leasing. Without limiting Lessor agrees to lease to Lessee, and Lessee agrees to lease from Lessor, the foregoingequipment ("Equipment") described in any schedule signed by both parties. Lessor shall purchase Equipment from the manufacture or supplier ("Supplier") and lease it to Lessee if on or before the Last Delivery Date Lessor receives (i) a Schedule for the Equipment, but subject (ii) evidence of insurance which complies with the requirements of Section 9, and (iii) such other documents as Lessor may reasonably request. Each of the documents required above must be in form and substance satisfactory to Lessor. Lessor hereby appoints Lessee its agent for inspection and acceptance of the Equipment from the Supplier. Once the Schedule is signed, the Lessee may not cancel the Schedule. TERM, RENT AND PAYMENT: The rent payable for the Equipment and Lessee's right to use the Equipment shall begin on the earlier of (i) the date when the Lessee signs the Schedule and accepts the Equipment or (ii) when Lessee has accepted the Equipment under a Certificate of Acceptance ("Lease Commencement Date"). The term of this Agreement shall be the period specified in the applicable schedule. the word "term" shall include all basic and any renewal terms. Lessee shall pay rent to Lessor at its address stated above, except as otherwise directed by Lessor. Rent payments shall be in the amount set forth in, and due as stated in the applicable Schedule. If any Advance Rent (as stated in the Schedule) is payable, it shall be due when the Lessee signs the Schedule. Advance Rent shall be applied to the provisions first rent payment and the balance, if any, to the final rent payment(s) under such Schedule. In no event shall any Advance Rent or any other rent payments be refunded to Lessee. If rent is not paid within ten (10) days of this Section 7.2its due date, from Lessee agrees to pay a late charge of five cents ($.05) per collar on, and in addition to, the Agreement Date through amount of such rent but not exceeding the Due Diligence Deadline LGI De shalllawful maximum, if any. RENT ADJUSTMENT: If solely as a result of Congressional enactment of any law (including, without limitation, any modification of, or amendment or addition to, the Internal Revenue Code of 1986, as amended, ("Code")), the maximum effective corporate income tax rate (exclusive of any minimum tax rate) for calendar-year taxpayers ("Effective Rate") is higher than thirty-five percent (35%) for any year during the lease term, then Lessor shall have the right to increase such rent payments in the year of effectiveness and thereafter annually for so long as the Effective Rate is greater than 35% by requiring payment of a single additional sum. The additional sum shall be equal to the product of (i) the Effective Rate (expressed as a decimal) for such year less .35 (or, in the ordinary courseevent that any adjustment has been made hereunder for any previous year, negotiate with prospective tenants and enter into new leases the Effective Rate (on terms that LGI De believes, expressed as a decimal) used in its commercially reasonable business judgment, to be market termscalculating the next previous adjustment) times (ii) the adjusted Termination Value (defined below), enforce divided by (iii) the terms difference between the new Effective Rate (expressed as a decimal) and one (1). the adjusted Termination Value shall be the Termination Value calculated as of the Leases first rent due in the year for which the adjustment is being made) minus the Tax Benefits that would be allowable under Section 168 of the Code (as of the first day of the year for which such adjustment is being made and all material respects future years of the lease term). The Termination Values and perform in all material respects all Tax Benefits are defined on the Schedule. Lessee shall pay to Lessor the full amount of landlordthe additional rent payment on the later of (i) receipt of notice or (ii) the first day of the year for which such adjustment is being made. Lessee's obligations under the Leases. LGI De will promptly notify NetREIT of any new leases entered into by, or proposals to enter into new leases made by, LGI De at least two (2) Business Days prior to the Due Diligence Deadline and provide NetREIT with a summary of the terms of each such new lease or proposal. After the Due Diligence Deadline, and at least three (3) Business Days prior to becoming legally bound with respect to any new lease or other agreement or modification of the existing Leases or other agreement, LGI De shall consult with and seek the consent of NetREIT, and shall provide reasonable detail to NetREIT including, at NetREIT's request, copies of the relevant documentation, with respect thereto. Any consent to be given by NetREIT pursuant to this Section 7.2 3 shall be granted survive any expiration or withheld in NetREIT's sole and absolute discretion, and shall be deemed denied if NetREIT does not respond in writing to LGI De's request for said consent within five (5) Business Days after receipt thereof. Prior to the Closing Date, LGI De shall have the right, but not the obligation (except to the extent that LGI De's failure to act shall constitute a waiver termination of such rights or remedies), to enforce the rights and remedies of the landlord under the Leases, by summary proceedings or otherwise, but after the expiration of the Due Diligence Deadline, LGI De shall not apply all or any portion of any security deposit then held by LGI De toward any loss or damage incurred by LGI De by reason of any defaults by any tenants under the Leases. With respect to any application by LGI De, prior to the expiration of the Due Diligence Deadline, of any tenant security deposit held by LGI De, LGI De will deliver, in connection with any such application, written notice to the applicable tenant(s) under the Leases indicating that its security deposit has been or is being so applied. LGI De shall provide NetREIT with written notice within three (3) Business Days after any action taken by LGI De pursuant to the foregoing provisionsthis Agreement.

Leasing. Without limiting Seller shall not, without Buyer’s prior written consent (a) enter into any new lease for an apartment unit with a first-time tenant unless the foregoinglease is on the Seller’s standard form, but subject is for a period of no more than one (1) year and the rent shall be not less than the amount of the rent charged to the provisions most recent tenant for the respective apartment; or (b) enter into, and, renew or extend any Lease for an apartment unit with an existing tenant unless the lease is on Seller’s standard form, is for a period of this Section 7.2not more than one (1) year and not less than seven (7) months and that the rent for the amended, from renewal or extension term shall not be less than the Agreement Date through amount of rent noted on the Due Diligence Deadline LGI De shallRent Roll for the respective apartment, provided that nothing in the ordinary course, negotiate with prospective tenants and enter into new foregoing shall be construed to prohibit Seller from allowing leases to renew on a month to month basis (on terms that LGI De believes, in its commercially reasonable business judgment, to be market termsthe “Renewal Leases”), enforce the terms so long as such Renewal Leases at not time constitute more than ten percent (10%) of the Leases number of units listed on the Rent Roll, unless Buyer has consented in all material respects and perform in all material respects all writing to such exceedance; (c) terminate any Lease except by reason of landlord's obligations under a default by the Leases. LGI De will promptly notify NetREIT of tenant thereunder; or (d) grant any new leases entered into by, or proposals concessions to enter into new leases made by, LGI De at least two (2) Business Days prior to a tenant that are not consistent with those customarily granted by Seller during the Due Diligence Deadline and provide NetREIT with a summary of the terms of each such new lease or proposal. After the Due Diligence Deadline, and at least three (3) Business Days month period prior to becoming legally bound with respect to any new lease or other agreement or modification the termination of the existing Leases Management Agreement (as hereinafter defined). On or other agreement, LGI De shall consult with and seek the consent of NetREIT, and shall provide reasonable detail to NetREIT including, at NetREIT's request, copies of the relevant documentation, with respect thereto. Any consent to be given by NetREIT pursuant to this Section 7.2 shall be granted or withheld in NetREIT's sole and absolute discretion, and shall be deemed denied if NetREIT does not respond in writing to LGI De's request for said consent within five (5) Business Days after receipt thereof. Prior prior to the Closing Date, LGI De Seller shall have performed all work necessary (including, without limitation, supplying operable kitchen appliances, installing new carpeting or cleaning existing carpeting, and repainting) to make all apartment units within the right, but not the obligation Property that have been vacated for more than five (except to the extent that LGI De's failure to act shall constitute a waiver of such rights or remedies), to enforce the rights and remedies of the landlord under the Leases, by summary proceedings or otherwise, but after the expiration of the Due Diligence Deadline, LGI De shall not apply all or any portion of any security deposit then held by LGI De toward any loss or damage incurred by LGI De by reason of any defaults by any tenants under the Leases. With respect to any application by LGI De, 5) days prior to the expiration Closing Date ready for occupancy by incoming tenants, consistent with Seller’s past practices (the “Ready Work”). In the event that all Ready Work has not been completed prior to the Closing Date, Buyer may waive the completion of the Due Diligence DeadlineReady Work, proceed to close the transaction, and receive a credit on account of any tenant security deposit held by LGI Dethe incomplete Ready Work in an amount equal to $750.00, LGI De will deliverplus the cost of replacement appliances, in connection with any such application, written notice to the applicable tenant(s) under the Leases indicating that its security deposit has been or is being so applied. LGI De shall provide NetREIT with written notice within three (3) Business Days after any action taken by LGI De pursuant to the foregoing provisionsper unit.

Leasing. (a) The Administrative Agent shall be given an opportunity to review leases for rentable space in the Commercial Component; provided, however, that Administrative Agent's approval of such leases will not be required if such lease provides for rents that are at commercially reasonable rates and contain commercially reasonable terms and conditions and are with third-party tenants unrelated to Borrower, or such lease is for rental of less than 2,500 square feet. In no event may any lease contain an option to purchase. In all other cases, Administrative Agent shall use reasonable efforts to approve or disapprove any proposed lease within seven (7) Business Days of receipt by Administrative Agent of the lease and all other information reasonably deemed necessary by Administrative Agent in connection with approval of the lease. Failure of the Administrative Agent to disapprove any such lease within such seven (7) Business Day period shall be deemed to be approval of such lease. Administrative Agent shall not unreasonably withhold its approval of any proposed lease. Without limiting the foregoing, but subject Administrative Agent may condition approval of any such proposed lease on the execution and delivery by the tenant of a subordination, non-disturbance and attornment agreement in a form that is reasonably acceptable to the provisions of this Section 7.2, from the Agreement Date through the Due Diligence Deadline LGI De shall, in the ordinary course, negotiate with prospective tenants and enter into new leases Administrative Agent. (on terms that LGI De believes, in its b) Borrower shall use commercially reasonable business judgment, efforts to be market terms), enforce the terms of the Leases in all material respects and perform in all material respects all of landlord's obligations under the Leases. LGI De will promptly notify NetREIT of any new leases entered into by, or proposals deliver to enter into new leases made by, LGI De at least two Administrative Agent within fifteen (215) Business Days prior following a request therefore, a subordination, non-disturbance and attornment agreement and/or an estoppel certificate, for the benefit of Lenders, each in form and substance reasonably satisfactory to Administrative Agent, from such tenant or tenants as Administrative Agent shall specify. (c) Within ten (10) days after the Due Diligence Deadline and provide NetREIT execution thereof, Borrower shall deliver to Administrative Agent copies of all leases. (d) Borrower shall not amend or modify any lease requiring approval by Administrative Agent in any material respect, or waive or release any of the material provisions thereof. (e) Borrower shall at all times comply with a summary all of the terms of each such new lease or proposal. After the Due Diligence Deadline, and at least three (3) Business Days prior to becoming legally bound with respect to any new lease or other agreement or modification conditions of the existing Leases or other agreement, LGI De shall consult with and seek the consent of NetREIT, leases and shall provide reasonable detail to NetREIT including, at NetREIT's request, copies not permit any violation of the relevant documentation, with respect thereto. Any consent to be given by NetREIT pursuant to this Section 7.2 shall be granted terms thereof or withheld in NetREIT's sole and absolute discretion, and shall be deemed denied if NetREIT does not respond in writing to LGI De's request for said consent within five (5) Business Days after receipt thereof. Prior to the Closing Date, LGI De shall have the right, but not the obligation (except to the extent that LGI De's failure to act shall constitute a waiver of such rights or remedies), to enforce the rights and remedies of the landlord under the Leases, by summary proceedings or otherwise, but after the expiration of the Due Diligence Deadline, LGI De shall not apply all or any portion of any security deposit then held by LGI De toward any loss or damage incurred by LGI De by reason of any defaults by any tenants under the Leases. With respect to any application by LGI De, prior to the expiration of the Due Diligence Deadline, of any tenant security deposit held by LGI De, LGI De will deliver, in connection with any such application, written notice to the applicable tenant(s) under the Leases indicating that its security deposit has been or is being so applied. LGI De shall provide NetREIT with written notice within three (3) Business Days after any action taken by LGI De pursuant to the foregoing provisionsdefault thereunder.

Leasing. Without limiting (a) After the foregoingLease has been executed and delivered by Landlord and Tenant, but subject to Landlord shall notify Tenant if Landlord has a bona fide prospective tenant for more than twenty percent (20%) of the provisions space on the second floor of this Section 7.2, from Building II or any space in Building III (the Agreement Date through "Lease Option Space"). The notice ("Landlord's Notice") shall identify (i) the Due Diligence Deadline LGI De shall, Lease Option Space together with all other space then available for lease in the ordinary courseBuilding in which the Lease Option Space is located (together with the Lease Option Space, negotiate with prospective tenants and enter into new leases (on terms that LGI De believes, in its commercially reasonable business judgment, to be market termsthe "Available Space"), enforce (ii) the terms term of the Leases in all material respects proposed lease, which shall begin as provided below and perform in all material respects all of landlord's obligations under the Leases. LGI De will promptly notify NetREIT of any new leases entered into by, or proposals to enter into new leases made by, LGI De at least shall end two (2) Business Days prior years after the expiration of the Lease (with options comparable to those under the Due Diligence Deadline Lease, although the failure of Tenant to exercise a Lease option shall void contemporaneous or future options under a lease of the Lease Option Space or Available Space); (iii) the Base Rent it proposes for the Lease Option Space and provide NetREIT the Available Space; (iv) the Tenant Improvement Allowance which it proposes to give for the Lease Option Space and the Available Space; (v) the date anticipated for delivery of the Lease Option Space and the Available Space to Tenant for the construction of its tenant improvements; (vi) the period anticipated for the construction of tenant improvements and the date for rent commencement, which in each case shall be commercially reasonable given when the Lease Option Space and the Available Space are scheduled for delivery; and (vii) any other terms it proposes to seek for the Lease Option Space and the Available Space which are different from the terms of this Lease. Together with a summary all of the terms of each such new lease or proposal. After this Lease which are not inconsistent with the Due Diligence Deadline, and at least three (3) Business Days prior to becoming legally bound with respect to any new lease or other agreement or modification of the existing Leases or other agreement, LGI De shall consult with and seek the consent of NetREIT, and shall provide reasonable detail to NetREIT foregoing [including, at NetREIT's requestwithout limitation, copies a letter of credit and security deposit which are comparable and proportional to those in this Lease], the relevant documentationprovisions in clauses (i) through (vii) are referred to herein, with respect theretocollectively, as the "Lease Option Terms". Any consent to be given by NetREIT pursuant to this Section 7.2 Tenant shall be granted or withheld in NetREIT's sole and absolute discretionhave the right, and shall be deemed denied if NetREIT does not respond in writing to LGI De's request for said consent exercisable within five (5) Business Days business days after its receipt thereof. Prior of Landlord's Notice, to notify Landlord that Tenant: (A) agrees to lease the Closing DateLease Option Space or the Available Space on the Lease Option Terms or (B) agrees to lease the Lease Option Space or the Available Space on "Negotiated Terms", LGI De shall have which means all the right, but not the obligation Lease Option Terms other than those described in clauses (except to the extent that LGI De's failure to act shall constitute a waiver of such rights or remediesiii), to enforce the rights (iv), (vi) and remedies of the landlord under the Leases(vii) thereof, by summary proceedings or otherwise, but after the expiration of the Due Diligence Deadline, LGI De shall not apply all or any portion of any security deposit then held by LGI De toward any loss or damage incurred by LGI De by reason of any defaults by any tenants under the Leases. With respect to any application by LGI De, prior to the expiration of the Due Diligence Deadline, of any tenant security deposit held by LGI De, LGI De will deliverwhich would be as negotiated between Landlord and Tenant and, in connection with any such applicationthe absence of agreement, written notice to the applicable tenant(s) under the Leases indicating that its security deposit has been or is being so applied. LGI De shall provide NetREIT with written notice within three (3) Business Days after any action taken determined by LGI De arbitration pursuant to Section 16. In its notice (if any), Tenant shall specify whether it wishes to lease just the foregoing provisionsLease Option Space or the Available Space.

Leasing. Without limiting Until the foregoingClosing occurs, but subject Seller shall have the right to ------- lease the Property in its sole discretion. Seller shall send a copy of the proposed lease to Buyer for its approval, prior to execution (together with a statement of the amount of the brokerage commission and the estimated amount of the tenant improvements, if any, which will be due with respect to such lease), which approval Buyer shall not unreasonably withhold or delay. If seller shall not receive notice of objection from Buyer on or before 5 pm Central time five (5) business days following Buyer's receipt of a proposed lease, Buyer shall be conclusively deemed to have approved the proposed lease and the amount of the brokerage commission set forth in Seller's notice (all leases set forth on Exhibit "B-1" hereto, and all leases subsequently approved or deemed approved by Buyer are referred to herein as "Approved Leases" and all commissions approved or deemed approved by Buyer are referred to herein as "Approved Commissions"; and at Closing Exhibit "B-1" shall be amended to include all Approved Leases). Because the benefits of new leases shall primarily accrue to the provisions benefit of this Section 7.2Buyer, from Buyer hereby agrees to reimburse Seller at Closing for all amounts expended by Seller with respect to the Agreement Date through the Due Diligence Deadline LGI De shallApproved Leases for tenant improvements, in the ordinary course, negotiate together with prospective tenants and enter into new leases (on terms that LGI De believes, in its commercially reasonable business judgment, any Approved Commissions paid by Seller pursuant to be market terms), enforce the terms of the Approved Leases in from the Date of Agreement through the Closing Date provided, however, that it is understood and agreed that Seller shall be solely responsible for the cost of Approved Commissions and tenant improvements to premises occupied by Urban Science Application under an Approved Lease. In addition, except as otherwise set forth herein, Buyer hereby assumes all material respects and perform in all material respects all of landlord's unpaid obligations under the Leases. LGI De will promptly notify NetREIT of any new leases entered into by, or proposals to enter into new leases made by, LGI De at least two (2) Business Days prior to the Due Diligence Deadline and provide NetREIT with a summary of the landlord that are required by the express written terms of each such new lease or proposal. After the Due Diligence Deadline, Approved Leases (and at least three (3) Business Days prior to becoming legally bound all unpaid Approved Commissions due with respect to any new lease or other agreement or modification such Approved Leases), including, without limitation, all unpaid obligations required by the express written terms of the existing Approved Leases or for tenant improvements and other agreementtenant concessions, LGI De shall consult with and seek Buyer agreeing to assume all tenant improvement construction contracts for work required by the consent of NetREIT, and shall provide reasonable detail to NetREIT including, at NetREIT's request, copies express written terms of the relevant documentation, with respect thereto. Any consent to be given by NetREIT pursuant to this Section 7.2 shall be granted or withheld Approved Leases which is in NetREIT's sole and absolute discretion, and shall be deemed denied if NetREIT does not respond in writing to LGI De's request for said consent within five (5) Business Days after receipt thereof. Prior to the Closing Date, LGI De shall have the right, but not the obligation (except to the extent that LGI De's failure to act shall constitute a waiver of such rights or remedies), to enforce the rights and remedies progress as of the landlord under Closing. This provision shall survive the Leases, by summary proceedings or otherwise, but after the expiration of the Due Diligence Deadline, LGI De shall not apply all or any portion of any security deposit then held by LGI De toward any loss or damage incurred by LGI De by reason of any defaults by any tenants under the Leases. With respect to any application by LGI De, prior to the expiration of the Due Diligence Deadline, of any tenant security deposit held by LGI De, LGI De will deliver, in connection with any such application, written notice to the applicable tenant(s) under the Leases indicating that its security deposit has been or is being so applied. LGI De shall provide NetREIT with written notice within three (3) Business Days after any action taken by LGI De pursuant to the foregoing provisionsClosing.

Leasing. Without limiting (a) The Aircraft Lease Agreement shall specify a Scheduled Delivery Month, a Scheduled Delivery Week or a Scheduled Delivery Date. Unless a specific Scheduled Delivery Week has been agreed in the foregoingAircraft Lease Agreement, Lessor shall notify Lessee as soon as possible, but subject to the provisions of this Section 7.2, from the Agreement Date through the Due Diligence Deadline LGI De shall, in the ordinary course, negotiate with prospective tenants and enter into new leases (on terms that LGI De believes, in its commercially reasonable business judgment, to be market terms), enforce the terms of the Leases in all material respects and perform in all material respects all of landlord's obligations under the Leases. LGI De will promptly notify NetREIT of any new leases entered into by, or proposals to enter into new leases made by, LGI De no later than at least two thirty (230) Business Days days prior to the Due Diligence Deadline and provide NetREIT with a summary Scheduled Delivery Month of the terms Scheduled Delivery Week and unless a specific Scheduled Delivery Date has been agreed in the Aircraft Lease Agreement, Lessor shall notify Lessee as soon as possible but no later than at least one (1) week prior to the Scheduled Delivery Week of each such new the Scheduled Delivery Date. Subject to Clause 4.4, Lessor will lease or proposal. After the Due Diligence DeadlineAircraft to Lessee and Lessee will take the Aircraft on lease for the Term, which shall commence on the Delivery Date, and at least three (3) Business Days prior to becoming legally bound with respect to any new lease or other agreement or modification which shall be evidenced by Lessee’s execution of the existing Leases Certificate of Technical Acceptance for the Aircraft. (b) If (i) Lessee is unwilling or other agreementunable to accept delivery of the Aircraft on the date on which Lessor tenders the Aircraft for Delivery to Lessee under and in accordance with Clause 4.3(a), LGI De shall consult with and seek the consent of NetREITor Lessee fails to fulfill any Condition Precedent on or before such date, and shall provide reasonable detail to NetREIT including(ii) the Aircraft meets the Delivery Condition Requirements, at NetREIT's request, copies of then the relevant documentation, with respect thereto. Any consent to be given by NetREIT pursuant to this Section 7.2 shall be granted or withheld in NetREIT's sole and absolute discretion, and Rent Commencement Date for the Aircraft shall be deemed denied if NetREIT does not respond to have occurred on the date on which it is tendered by Lessor for Delivery in writing accordance with subclause (ii) of this Clause 4.1(b), and Lessee shall be obligated to LGI De's request pay Rent for said consent within five the Aircraft on and from such date regardless of whether the Delivery Date occurs or whether Lessee executes the Certificate of Technical Acceptance, but Lessor shall have no obligation to deliver, and Lessee shall have no lease interest in the Aircraft or other right to, possession of the Aircraft unless and until Lessee fulfils all Conditions Precedent as and when provided in the Lease and Lessee accepts delivery of the Aircraft as evidenced by its execution of Certificate of Technical Acceptance for such Aircraft, and so long as no Default has occurred and is continuing. (5c) Business Days after receipt thereof. Prior Lessee will be responsible for all risks associated with any loss of or damage to the Closing Date, LGI De shall have Aircraft from the right, but not Delivery Date until the obligation Return Occasion (except to where the extent that LGI De's failure to act shall constitute a waiver same is caused solely and directly by the acts of such rights Lessor during the Term constituting willful misconduct or remedies), to enforce the rights and remedies of the landlord under the Leases, by summary proceedings or otherwise, but after the expiration of the Due Diligence Deadline, LGI De shall not apply all or any portion of any security deposit then held by LGI De toward any loss or damage incurred by LGI De by reason of any defaults by any tenants under the Leases. With respect to any application by LGI De, prior to the expiration of the Due Diligence Deadline, of any tenant security deposit held by LGI De, LGI De will deliver, in connection with any such application, written notice to the applicable tenant(srecklessness) under the Leases indicating that its security deposit has been or is being so applied. LGI De shall provide NetREIT with written notice within three (3) Business Days after any action taken by LGI De pursuant to the foregoing provisions.

Leasing. Without limiting In the foregoingevent that Seller proposes to enter into a Lease after the date of this Agreement, but subject Seller shall provide Buyer with written notice of such Lease, together with any financial statements or credit reports obtained by Seller with respect to the provisions proposed tenant and a summary of this Section 7.2any brokerage commissions payable with respect to such proposed Lease. Buyer shall have three (3) business days to approve or disapprove such proposed Lease. In the event that Buyer fails to respond in writing to such proposed Lease in such three (3) business day period, from Buyer shall be conclusively presumed to have approved such Lease. In the Agreement Date through event that Buyer approves or is deemed to have approved such Lease, Buyer shall assume upon the Due Diligence Deadline LGI De shall, in the ordinary course, negotiate with prospective tenants and enter into new leases (on terms that LGI De believes, in its commercially reasonable business judgment, to be market terms), enforce the terms Closing all of the Leases in all material respects and perform in all material respects all of landlord's obligations under the Leases. LGI De will promptly notify NetREIT of any new leases entered into by, or proposals to enter into new leases made by, LGI De at least two (2) Business Days prior to the Due Diligence Deadline and provide NetREIT with a summary of the terms of each such new lease or proposal. After the Due Diligence Deadline, and at least three (3) Business Days prior to becoming legally bound with respect to any new lease or other agreement or modification of the existing Leases or other agreementsuch Lease, LGI De shall consult with and seek the consent of NetREIT, and shall provide reasonable detail to NetREIT including, at NetREIT's request, copies of the relevant documentation, with respect thereto. Any consent to be given by NetREIT pursuant to this Section 7.2 shall be granted or withheld in NetREIT's sole and absolute discretion, and shall be deemed denied if NetREIT does not respond in writing to LGI De's request for said consent within five (5) Business Days after receipt thereof. Prior to the Closing Date, LGI De shall have the right, but not including without limitation the obligation (except to install and pay the extent that LGI De's failure to act shall constitute a waiver of such rights or remedies), to enforce the rights and remedies of the landlord under the Leases, by summary proceedings or otherwise, but after the expiration of the Due Diligence Deadline, LGI De shall not apply all or any portion of any security deposit then held by LGI De toward any loss or damage incurred by LGI De by reason of any defaults by any tenants under the Leases. With respect to any application by LGI De, prior to the expiration of the Due Diligence Deadline, cost of any tenant security deposit held improvements contemplated by LGI Desuch Lease and the obligation to pay any and all brokerage commissions payable with respect to such Lease. All such commissions shall be paid by Buyer on or prior to date they are required to be paid by Seller's agreement with the broker (which agreement shall be provided to Buyer with the proposed tenant lease and which agreement shall not be modified by Seller if Buyer approves the lease). In the event that Buyer fails to approve such Lease, LGI De will deliverSeller may, at its sole election, enter into such Lease. In the event that Seller executes and delivers such Lease, Seller shall so notify Buyer in connection with any writing (each such applicationnotice shall be referred to herein as a "Lease Notice") and Buyer may, at its election exercised by written notice to the applicable tenant(s) under the Leases indicating that its security deposit has been or is being so applied. LGI De shall provide NetREIT with written notice Seller received by Seller within three (3) Business Days business days after any action taken by LGI De Buyer's receipt of Seller's Lease Notice, terminate this Agreement, in which case Buyer and Seller shall have no further rights or obligations to one another under this Agreement (except for Buyer's obligations under Sections 4.4, 5.2(b) and 9.5 hereof). If Seller does not receive written notice of Buyer's election to terminate within such three business day period, Buyer shall be conclusively presumed to have elected to terminate this Agreement. In the event of a termination of this Agreement pursuant to this Section 9.1, the foregoing provisionsXxxxxxx Money Deposit shall promptly be returned by Escrow Holder to Buyer.

Leasing. Without limiting (a) Unless a specific Scheduled Delivery Date has been agreed in the foregoingAircraft Lease Agreement, Lessor shall notify in writing Lessee of the Scheduled Delivery Date as soon as possible, but no later than at least thirty (30) days prior to the anticipated Delivery Date. Subject to Section 4.4, Lessor will lease the Aircraft to Lessee and Lessee, subject to compliance of the provisions Aircraft with the Delivery Condition Requirements and satisfaction of the other Lessee Conditions Precedent, will take the Aircraft on lease for the Term, which shall be evidenced by Lessee’s execution of Lease Supplement No. (b) If (i) Lessee is unwilling or unable to accept delivery of the Aircraft on the date on which Lessor tenders the Aircraft for Delivery to Lessee in compliance with the Delivery Condition Requirements and under and in accordance with Section 4.3(a), or Lessee fails to fulfill any Lessor Condition Precedent on or before such date or fails to perform any of its obligations under the Lease which are required to be performed by Lessee, and (ii) the Lessee Conditions Precedent have been satisfied (or could reasonably be expected to be satisfied if Delivery were occurring), then the Rent Commencement Date for the Aircraft shall be deemed to have occurred on the date on which the Aircraft is tendered by Lessor for Delivery in accordance with subsection (ii) of this Section 7.24.1(b), and Lessee shall be obligated to pay Rent for the Aircraft on and from such date regardless of whether the Delivery Date occurs or whether Lessee executes Lease Supplement No. 1, but Lessor shall have no obligation to deliver the Aircraft unless and until all Lessor Conditions Precedent have been satisfied (or could reasonably be expected to be satisfied if Delivery were occurring). In no event shall Lessee have or be deemed to have a lease interest or other possessory right in or to the Aircraft until Lessor tenders and Lessee accepts delivery of the Aircraft as evidenced by their execution of Lease Supplement No. 1. (c) Lessee will be responsible for all risks associated with (i) the use and operation of the Aircraft and (ii) any loss of or damage to the Aircraft from the Agreement Delivery Date through the Due Diligence Deadline LGI De shall, in the ordinary course, negotiate with prospective tenants and enter into new leases (on terms that LGI De believes, in its commercially reasonable business judgment, to be market terms), enforce the terms until possession of the Leases in all material respects and perform in all material respects all of landlord's obligations under Aircraft is returned to Lessor on the Leases. LGI De will promptly notify NetREIT of any new leases entered into by, or proposals to enter into new leases made by, LGI De at least two (2) Business Days prior to the Due Diligence Deadline and provide NetREIT with a summary of the terms of each such new lease or proposal. After the Due Diligence Deadline, and at least three (3) Business Days prior to becoming legally bound with respect to any new lease or other agreement or modification of the existing Leases or other agreement, LGI De shall consult with and seek the consent of NetREIT, and shall provide reasonable detail to NetREIT including, at NetREIT's request, copies of the relevant documentation, with respect thereto. Any consent to be given by NetREIT pursuant to this Section 7.2 shall be granted or withheld in NetREIT's sole and absolute discretion, and shall be deemed denied if NetREIT does not respond in writing to LGI De's request for said consent within five (5) Business Days after receipt thereof. Prior to the Closing Date, LGI De shall have the right, but not the obligation (except to the extent that LGI De's failure to act shall constitute a waiver of such rights or remedies), to enforce the rights and remedies of the landlord under the Leases, by summary proceedings or otherwise, but after the expiration of the Due Diligence Deadline, LGI De shall not apply all or any portion of any security deposit then held by LGI De toward any loss or damage incurred by LGI De by reason of any defaults by any tenants under the Leases. With respect to any application by LGI De, prior to the expiration of the Due Diligence Deadline, of any tenant security deposit held by LGI De, LGI De will deliver, in connection with any such application, written notice to the applicable tenant(s) under the Leases indicating that its security deposit has been or is being so applied. LGI De shall provide NetREIT with written notice within three (3) Business Days after any action taken by LGI De pursuant to the foregoing provisionsReturn Occasion.

Leasing. Without limiting (a) Lessor shall notify Lessee of the foregoingScheduled Delivery Week as soon as possible, but subject no later than at least thirty (30) days prior to the provisions Scheduled Delivery Month, and Lessor shall notify Lessee of the Scheduled Delivery Date as soon as possible, but no later than at least one (1) week prior to the Scheduled Delivery Week. Subject to Sections 3.1 and 4.4, Lessor will lease the Aircraft to Lessee and Lessee will take the Aircraft on lease for the Term, which shall commence on the Delivery Date, and which shall be evidenced by Lessee's execution of Lease Supplement No. (b) If (i) Lessee is unwilling or unable to accept delivery of the Aircraft on the date on which Lessor tenders the Aircraft for Delivery to Lessee under and in accordance with Section 4.3(a), or Lessee fails to fulfil any Lessor Condition Precedent on or before such date, and (ii) the Lessee Conditions Precedent are met (or could reasonably be expected to be met if Delivery had occurred), then the Rent Commencement Date for the Aircraft shall be deemed to have occurred on the date on which it is tendered by Lessor for Delivery in accordance with subclause (ii) of this Section 7.24.1(b), and Lessee shall be obligated to pay Rent for the Aircraft on and from such date regardless of whether the Delivery Date occurs or whether Lessee executes Lease Supplement No. 1, but Lessor shall have no obligation to deliver, and Lessee shall have no lease interest in the Aircraft or other right to possession of the Aircraft, unless and until Lessee fulfils all Lessor Conditions Precedent as and when provided in the Lease and Lessee accepts delivery of the Aircraft as evidenced by its execution of Lease Supplement No. 1, and so long as no Default has occurred and is continuing. (c) Lessee will be responsible for all risks associated with any loss of or damage to the Aircraft from the Agreement Rent Commencement Date through the Due Diligence Deadline LGI De shall, in the ordinary course, negotiate with prospective tenants and enter into new leases (on terms that LGI De believes, in its commercially reasonable business judgment, to be market terms), enforce the terms until possession of the Leases in all material respects Aircraft is returned to Lessor on the Return Occasion and perform in all material respects all of landlord's obligations under Lessor executes and delivers to Lessee the Leases. LGI De will promptly notify NetREIT of any new leases entered into by, or proposals to enter into new leases made by, LGI De at least two (2) Business Days prior to the Due Diligence Deadline and provide NetREIT with a summary of the terms of each such new lease or proposal. After the Due Diligence Deadline, and at least three (3) Business Days prior to becoming legally bound with respect to any new lease or other agreement or modification of the existing Leases or other agreement, LGI De shall consult with and seek the consent of NetREIT, and shall provide reasonable detail to NetREIT including, at NetREIT's request, copies of the relevant documentation, with respect thereto. Any consent to be given acknowledgement contemplated by NetREIT pursuant to this Section 7.2 shall be granted or withheld in NetREIT's sole and absolute discretion, and shall be deemed denied if NetREIT does not respond in writing to LGI De's request for said consent within five (5) Business Days after receipt thereof. Prior to the Closing Date, LGI De shall have the right, but not the obligation (except to the extent that LGI De's failure to act shall constitute a waiver of such rights or remedies), to enforce the rights and remedies of the landlord under the Leases, by summary proceedings or otherwise, but after the expiration of the Due Diligence Deadline, LGI De shall not apply all or any portion of any security deposit then held by LGI De toward any loss or damage incurred by LGI De by reason of any defaults by any tenants under the Leases. With respect to any application by LGI De, prior to the expiration of the Due Diligence Deadline, of any tenant security deposit held by LGI De, LGI De will deliver, in connection with any such application, written notice to the applicable tenant(s) under the Leases indicating that its security deposit has been or is being so applied. LGI De shall provide NetREIT with written notice within three (3) Business Days after any action taken by LGI De pursuant to the foregoing provisions12.4.

Leasing. Without limiting the foregoing(A) Seller has delivered to Purchaser a true, but subject to the provisions correct and complete copy of this Section 7.2, from the Agreement Date through the Due Diligence Deadline LGI De shall, in the ordinary course, negotiate with prospective tenants and enter into new leases (on terms that LGI De believes, in its commercially reasonable business judgment, to be market terms), enforce the terms each of the Leases in all material respects and perform in all material respects all of landlord's obligations under the Existing Leases. LGI De will promptly notify NetREIT of any new leases entered into byThe Existing Leases are in full force and effect, have not been further amended, modified or proposals to enter into new leases made by, LGI De at least two (2) Business Days prior to the Due Diligence Deadline and provide NetREIT with a summary of the terms of each such new lease or proposal. After the Due Diligence Deadlinesupplemented, and at least three (3) Business Days prior to becoming legally bound constitute the entire agreement between the Seller and Yankee Clipper concerning the Property with respect to any new lease the Existing Yankee Lease and Seller and Xxxx Flotation with respect to the Existing Xxxx Lease. The Existing Leases are the only leases, subleases, license or other agreement uses or modification of the existing Leases or other agreement, LGI De shall consult with and seek the consent of NetREIT, and shall provide reasonable detail to NetREIT including, at NetREIT's request, copies of the relevant documentation, with respect thereto. Any consent to be given by NetREIT pursuant to this Section 7.2 shall be granted or withheld in NetREIT's sole and absolute discretion, and shall be deemed denied if NetREIT does not respond in writing to LGI De's request for said consent within five (5) Business Days after receipt thereof. Prior to the Closing Date, LGI De shall have the right, but not the obligation (except to the extent that LGI De's failure to act shall constitute a waiver of such rights or remedies), to enforce the rights and remedies of the landlord under the Leases, by summary proceedings or otherwise, but after the expiration of the Due Diligence Deadline, LGI De shall not apply occupancy agreements affecting all or any portion of the Property; (B) There is no default by the Seller, Yankee Clipper or Xxxx Flotation under the Existing Leases or, to the best of Seller’s knowledge, any condition or event that, with the passage of time or giving of notice, or both, would constitute such a default. Neither Yankee Clipper nor Xxxx Flotation is entitled to any reduction in or refund of, and has no counterclaim or offset against, and is not otherwise disputing, any rents or other charges paid, payable or to become payable by Yankee Clipper or Xxxx Flotation under the Existing Leases or any of their other respective obligations under the Existing Leases. There are no options or rights to renew, extend or terminate the Existing Leases, except as expressly set forth in the Existing Leases and disclosed on Exhibit C. Neither Yankee Clipper nor Xxxx Flotation has indicated to Seller its intent to terminate or attempt to renegotiate the Existing Leases prior to expiration of the term of the Existing Leases (subject to the anticipated execution of the Seller Lease by Xxxx Flotation at Closing). To the knowledge of the Seller, neither Yankee Clipper nor Xxxx Flotation has entered into any assignment or sublease with respect to the Existing Leases; (C) Except as set out in the Existing Leases, neither Yankee Clipper nor Xxxx Flotation has provided any security deposit then held by LGI De toward any loss or damage incurred by LGI De by reason of any defaults by any tenants under the Leases. With respect to any application by LGI De, prior to the expiration of the Due Diligence Deadline, of any tenant security deposit held by LGI De, LGI De will deliver, in connection with any such applicationthe Existing Leases; (D) There are no free rent, written notice to the applicable tenant(s) operating expense abatements, incomplete tenant improvements, rebates, allowances, or other unexpired concessions or landlord obligations under the Leases indicating that its security deposit Existing Leases; (E) Other than the Existing Leases, the Seller has been not entered into any leases or is being so appliedother occupancy agreements affecting all or any portion of the Property, and there are no tenants or other occupants of all or any part of the Property other than Yankee Clipper under the Existing Yankee Lease and Xxxx Flotation under the Existing Xxxx Lease. (F) Neither Xxxx Flotation nor Seller, as the landlord under the Existing Yankee Lease or otherwise, has any outstanding receivables owed to either party by Yankee Clipper. LGI De shall provide NetREIT with written notice within three (3) Business Days after any action taken by LGI De pursuant Seller has no outstanding receivables owed to the foregoing provisionsit from Xxxx Flotation.

Leasing. Without limiting During the foregoingperiod between the Effective Date and the delivery of the Deposit, but subject Seller shall continue to manage and lease the provisions Property in the same manner as before the making of this Section 7.2Agreement, from the Agreement Date through same as though Seller were retaining the Due Diligence Deadline LGI De shallProperty. Provided, in however, Seller shall have no obligation to lease or market the ordinary course, negotiate with prospective tenants Property and enter into new leases (on terms that LGI De believes, in Seller shall have no liability for Leases which are terminated either by agreement between the Seller and the applicable tenant or as a result of a tenant’s default under its commercially reasonable business judgment, to be market terms), enforce Lease. During the terms period between the delivery of the Leases in all material respects Deposit and perform in all material respects all of landlord's obligations under the Leases. LGI De will promptly notify NetREIT of any new leases entered into by, or proposals to enter into new leases made by, LGI De at least two (2) Business Days prior to the Due Diligence Deadline and provide NetREIT with a summary of the terms of each such new lease or proposal. After the Due Diligence Deadline, and at least three (3) Business Days prior to becoming legally bound with respect to any new lease or other agreement or modification of the existing Leases or other agreement, LGI De shall consult with and seek the consent of NetREIT, and shall provide reasonable detail to NetREIT including, at NetREIT's request, copies of the relevant documentation, with respect thereto. Any consent to be given by NetREIT pursuant to this Section 7.2 shall be granted or withheld in NetREIT's sole and absolute discretion, and shall be deemed denied if NetREIT does not respond in writing to LGI De's request for said consent within five (5) Business Days after receipt thereof. Prior to the Closing Date, LGI De Seller hereby agrees to (to the extent permitted by applicable law): (i) not enter into any new Lease, renew any existing Lease, or modify any existing Lease for a unit at the Property unless (a) (1) the term of such Lease expires on or before the dates specified on Exhibit F attached hereto for each individual building and (2) the Lease terminates by its express terms on a date certain; and (3) the Lease does not contain any autorenewal or non-termination provisions that benefit the Tenant; or (b) Buyer otherwise waives the requirements of this Section in writing with respect to all or certain tenants; and (ii) cooperate with Buyer in any submissions to governmental authorities relating to Purchaser’s intended use and development of the Property. Upon Buyer’s request, but only after the Deposit has been made, Seller shall deliver a notice of termination (the “120 Day Notice”) to tenants specified by Buyer, provided, however, that Seller shall have no obligation to send the 120 Day Notice if the sending of the 120 Day Notice will result in the Lease being terminated prior to the dates specified on Exhibit F or the date the Lease expires according to its own terms (without reference to any tenant holdover or automatic renewal provisions contained in such Lease). In addition, Seller and Buyer agree that Buyer shall have the rightright to cause the Seller to send 120 Day Notices with respect to Leases that expire more than one hundred twenty (120) days after the date of the 120 Day Notice, but provided that such notices specify that the Lease shall not be terminated until the obligation later of (except x) one hundred twenty (120) days after the date of the 120 Day Notice; and (y) the date the Lease expires according to its own terms (without reference to any tenant holdover or automatic renewal provisions contained in such Lease). Seller and Purchaser shall jointly draft the 120 Day Notice, which may contain additional information regarding Purchaser’s intended plans with respect to the extent that LGI De's Property. Commencing on the date which is fifteen (15) days after delivery of the Deposit, and monthly thereafter until the Closing Date, Buyer shall pay directly to Seller the amount of Fifty Thousand and No/100 Dollars ($50,000.00) (a “Vacancy Payment”). Each installment of the Vacancy Payment shall be nonrefundable and shall be fully earned by Seller when paid. The Vacancy Payment shall not be credited against the Purchase Price. Buyer’s failure to act pay an installment of the Vacancy Payment when due shall constitute be a waiver material default under this Agreement and in the event of such rights or remediesdefault, in addition to any other remedies available to Seller, Seller may cease to comply with the obligations of this Section 7.1. During the period between the Effective Date and the Closing Date, if Seller becomes aware that a Unit is going to become vacant for the buildings located at 11011, 11013, 11015, 11017 and 00000 Xxxxxxxxx Xxxx Xxxxx on a date between the Effective Date and the Closing Date (provided that nothing contained in this paragraph shall affect the Seller’s obligations with respect to the Lease termination dates set forth in Exhibit F.), to enforce then Seller shall give Buyer written notice of such vacancy, describing the rights Lease, the rent and remedies the terms and conditions of the landlord under Lease. All terms and conditions shall be substantially similar to those offered to prospective tenants at the Leases, Property. Buyer shall have four (4) business days from the receipt of such notice to agree to lease the unit that will become vacant for the rent and upon the terms and conditions specified in such notice by summary proceedings or otherwise, but after the expiration of the Due Diligence Deadline, LGI De shall not apply all or any portion of any security deposit then held by LGI De toward any loss or damage incurred by LGI De by reason of any defaults by any tenants under the Leases. With respect to any application by LGI De, prior to the expiration of the Due Diligence Deadline, of any tenant security deposit held by LGI De, LGI De will deliver, in connection with any such application, giving written notice to Seller. If Buyer exercises its rights hereunder to enter into a Lease, the applicable tenant(s) parties shall promptly execute a Lease for said unit, and Buyer and Seller shall thereafter comply with each of their respective obligations under the Lease until the Closing Date (and thereafter if Closing does not occur). If Buyer does not exercise its rights hereunder to enter into a Lease, Seller may enter into a Lease for that Unit with a third party on substantially the same terms as were offered to Buyer and otherwise in compliance with the requirements of this Agreement regarding leasing. All amounts paid by Buyer to Seller under Leases indicating that its security deposit has been or is being so applied. LGI De shall provide NetREIT with written notice within three (3) Business Days after any action taken by LGI De entered into pursuant to this paragraph shall be credited to the foregoing provisionsPurchase Price at Closing. The provisions of this paragraph shall survive the termination of this Agreement, unless such termination results from a default by Seller under this Agreement. During the period between the Effective Date and the Closing Date, on a monthly basis Seller shall deliver to Buyer copies of the current rent roll for the Property together with copies of any newly executed Leases or modifications or renewals of Leases. Such rent roll shall be the actual rent roll used by Seller in its operation of the Property.

Leasing. Without limiting (a) Agency's obligations under the foregoingLease. Except for the lease set ------------------------------------ forth on Schedule C annexed hereto and made a part hereof (the "Lease"), but subject Agency ---------- represents that there are no leases to which it is a party now in effect with respect to the Premises. Agency shall not enter into any new lease of all or any part of the Premises or amend, renew, extend, abridge, cancel, terminate (or commence any summary proceeding or other action in pursuance thereof), or otherwise modify the Lease, or accept rent for a period of more than one month in advance, without in each instance obtaining Mortgagee's prior written consent thereto (which consent shall not be unreasonably withheld or delayed). No lease covering all or any part of the Property shall be valid or effective without the prior written approval of the Mortgagee which approval shall not be unreasonably withheld or delayed. The Mortgagee shall have all of the rights against lessees of the Property as set forth in Section 291-f of the Real Property Law of New York and reference is hereby made to the provisions therein and the same are incorporated by reference herein. Mortgagor shall, from time to time, if requested by Mortgagee, provide written notice to all applicable tenants, subtenants or occupants of the Premises accompanied by the provisions hereof. Agency shall fully and promptly perform all of the obligations to be performed by the lessor under the Lease. Agency shall enforce the payment of rent and shall enforce the performance and observance of each and every other material obligation to be performed or observed by Lessee under the Lease. Agency shall give prompt notice to Mortgagee of: (a) any notice received by Agency of any default by the lessor under the Lease, (b) the commencement of any action or proceeding by the tenant under the Lease the purpose of which shall be the cancellation of the Lease, the modification of the term thereof or a diminution or abatement of the rent payable thereunder, (c) any notice of default given by Agency to Lessee under he Lease, or (d) the interposition by Lessee under the Lease of any defense or counterclaim in any action or proceeding brought by Agency against Lessee; and Agency will cause a copy of any process, pleading or notice received or served by Agency in reference to any such action, defense or claim to be promptly delivered to Mortgagee. Other than any PILOT Payments made pursuant to Section 4.3 of the Lease, Agency shall hold in trust all security deposits and advance rent given on account of the Lease, and deposit such security in a bank or trust account approved by Mortgagee and shall not mingle such funds with other funds. Agency shall repay or apply such funds only in accordance with the provisions of the Lease. (b) Lessee's obligations under the Lease. Lessee shall pay or ------------------------------------ cause to be paid when due and payable pursuant to the provisions of this Section 7.2the Lease all rent, from supplemental rent, additional rent and other payments required to be paid by the Agreement Date through tenant under the Due Diligence Deadline LGI De shallLease. Lessee covenants that it shall diligently perform and observe, not later than the times specified in the ordinary courseLease or herein (whichever instrument shall provide for the earlier performance or observance), negotiate with prospective tenants all of the terms, covenants and enter into new leases (on terms that LGI De believes, in its commercially reasonable business judgment, conditions of the Lease required to be market terms)performed and observed by the tenant thereunder so that Lessee's rights as tenant under the Lease shall remain unimpaired. If Lessee shall fail so to do, enforce after all applicable cure periods have expired, Mortgagee may (but shall not be obligated to) take any action Mortgagee deems reasonably necessary or reasonably desirable to prevent or to cure any default or breach of condition by Lessee in the terms performance of the Leases in all material respects and perform in all material respects all or compliance with any of landlordLessee's covenants or obligations under the LeasesLease. LGI De will promptly notify NetREIT of any new leases entered into by, or proposals to enter into new leases made by, LGI De at least two (2) Business Days prior to the Due Diligence Deadline All reasonable costs and provide NetREIT with a summary of the terms of each such new lease or proposal. After the Due Diligence Deadline, and at least three (3) Business Days prior to becoming legally bound with respect to any new lease or other agreement or modification of the existing Leases or other agreement, LGI De shall consult with and seek the consent of NetREIT, and shall provide reasonable detail to NetREIT including, at NetREIT's request, copies of the relevant documentation, with respect thereto. Any consent to be given expenses incurred by NetREIT pursuant to this Section 7.2 Mortgagee shall be granted or withheld treated as an advance under this Mortgage, shall bear interest at the Applicable Rate from the date of payment by Mortgagee until paid in NetREIT's sole and absolute discretion, and shall be deemed denied if NetREIT does not respond in writing full by Lessee to LGI De's request for said consent Mortgagee within five (5) Business Days business days after written demand. Upon receipt thereofby Mortgagee from Agency of any written notice of default or breach of condition by Lessee, Mortgagee may rely thereon and take any action to cure such default even though the existence of such default or the nature thereof may be questioned or denied by Lessee. Prior Lessee hereby expressly grants to the Closing Date, LGI De Mortgagee and agrees that Mortgagee shall have the rightabsolute and immediate right to enter in and upon the Leasehold Interest or any part thereof to such extent and as often as Mortgagee, but in its sole discretion, deems reasonably necessary or desirable in order to prevent or to cure any default in the covenants of Lessee under this Mortgage. Lessee shall promptly notify Mortgagee in writing of any default by Agency or Lessee in the performance or observance of any of the terms, covenants or conditions to be performed or observed by either such party under the Lease, and shall promptly after payment exhibit unto Mortgagee all receipts for all payments required under the Lease. Lessee shall not materially modify, amend, release, cancel, surrender or terminate the obligation Lease without the prior written consent of Mortgagee and no such modification, amendment, release, cancellation, surrender or termination shall be of any force or effect whatsoever unless Mortgagee shall have given its prior written consent thereto (except which consent shall not be unreasonably withheld or delayed). No release or forbearance of any of Lessee's obligations under the Lease, pursuant to the extent that LGI De's failure to act shall constitute a waiver of such rights or remedies), to enforce the rights and remedies terms of the landlord under the Leases, by summary proceedings Lease or otherwise, but after shall release Lessee from any of its obligations under this Mortgage, including Lessee's obligations with respect to the expiration payment of rents as provided for in the Lease and the performance of all of the Due Diligence Deadlineterms, LGI De shall not apply all or any portion of any security deposit then held provisions, covenants, conditions and agreements contained in the Lease to be kept, performed and complied with by LGI De toward any loss or damage incurred by LGI De by reason of any defaults by any tenants under the Leases. With respect to any application by LGI De, prior to the expiration of the Due Diligence Deadline, of any tenant security deposit held by LGI De, LGI De will deliver, in connection with any such application, written notice to the applicable tenant(s) under the Leases indicating that its security deposit has been or is being so applied. LGI De shall provide NetREIT with written notice within three (3) Business Days after any action taken by LGI De pursuant to the foregoing provisionstherein.

Leasing. The Administrative Agent shall be given an opportunity to review leases for rentable space in the Commercial Component; provided, however, that Administrative Agent's approval of such leases will not be required if such lease provides for rents that are at commercially reasonable rates and contain commercially reasonable terms and conditions and are with third--party tenants unrelated to Borrower, or such lease is for rental of less than 7,500 square feet. In no event may any lease contain an option to purchase. In all other cases, Administrative Agent shall use reasonable efforts to approve or disapprove any proposed lease within seven (7) Business Days of receipt by Administrative Agent of the lease and all other information reasonably deemed necessary by Administrative Agent in connection with approval of the lease. Failure of the Administrative Agent to disapprove any such lease within such seven (7) Business Day period shall be deemed to be approval of such lease. Administrative Agent shall not unreasonably withhold its approval of any proposed lease. Without limiting the foregoing, but subject Administrative Agent may condition approval of any such proposed lease on the execution and delivery by the tenant of a subordination, non--disturbance and attornment agreement in a form that is reasonably acceptable to the provisions of this Section 7.2, from the Agreement Date through the Due Diligence Deadline LGI De shall, in the ordinary course, negotiate with prospective tenants and enter into new leases (on terms that LGI De believes, in its Administrative Agent. Borrower shall use commercially reasonable business judgment, efforts to be market terms), enforce the terms of the Leases in all material respects and perform in all material respects all of landlord's obligations under the Leases. LGI De will promptly notify NetREIT of any new leases entered into by, or proposals deliver to enter into new leases made by, LGI De at least two Administrative Agent within fifteen (215) Business Days prior following a request therefore, a subordination, non--disturbance and attornment agreement and/or an estoppel certificate, for the benefit of Lenders, each in form and substance substantially similar to the Due Diligence Deadline and provide NetREIT forms attached hereto as Exhibit L reasonably satisfactory to Administrative Agent, from such tenant or tenants as Administrative Agent shall specify. Within ten (10) days after the execution thereof, Borrower shall deliver to Administrative Agent copies of all leases. Borrower shall not amend or modify any lease requiring approval by Administrative Agent in any material respect, or waive or release any of the material provisions thereof. Borrower shall at all times comply with a summary all of the terms of each such new lease or proposal. After the Due Diligence Deadline, and at least three (3) Business Days prior to becoming legally bound with respect to any new lease or other agreement or modification conditions of the existing Leases or other agreement, LGI De shall consult with and seek the consent of NetREIT, leases and shall provide reasonable detail to NetREIT including, at NetREIT's request, copies not permit any violation of the relevant documentation, with respect thereto. Any consent to be given by NetREIT pursuant to this Section 7.2 shall be granted terms thereof or withheld in NetREIT's sole and absolute discretion, and shall be deemed denied if NetREIT does not respond in writing to LGI De's request for said consent within five (5) Business Days after receipt thereof. Prior to the Closing Date, LGI De shall have the right, but not the obligation (except to the extent that LGI De's failure to act shall constitute a waiver of such rights or remedies), to enforce the rights and remedies of the landlord under the Leases, by summary proceedings or otherwise, but after the expiration of the Due Diligence Deadline, LGI De shall not apply all or any portion of any security deposit then held by LGI De toward any loss or damage incurred by LGI De by reason of any defaults by any tenants under the Leases. With respect to any application by LGI De, prior to the expiration of the Due Diligence Deadline, of any tenant security deposit held by LGI De, LGI De will deliver, in connection with any such application, written notice to the applicable tenant(s) under the Leases indicating that its security deposit has been or is being so applied. LGI De shall provide NetREIT with written notice within three (3) Business Days after any action taken by LGI De pursuant to the foregoing provisionsdefault thereunder.

Leasing. Without limiting (a) Between the foregoingEffective Date and the expiration of the Inspection Period, but subject to the provisions of this Section 7.2, from the Agreement Date through the Due Diligence Deadline LGI De shall, in the ordinary course, negotiate with prospective tenants and enter into new leases (on terms that LGI De believesSeller, in its commercially reasonable business judgmentsole and absolute discretion and without the consent of Purchaser, to shall be market terms), enforce the terms of the Leases in all material respects and perform in all material respects all of landlord's obligations under the Leases. LGI De will promptly notify NetREIT of any new leases entered into by, or proposals permitted to enter into any new leases made byLease for space in the Property which is presently vacant or which may become vacant prior to the expiration of the Inspection Period. If Seller enters into such a new Lease, LGI De Seller will provide Purchaser with written notice of such new Lease at least two (2) Business Days business days prior to expiration of the Due Diligence Deadline Inspection Period. Between the expiration of the Inspection Period and provide NetREIT Closing, Seller shall not, without Purchaser’s prior written consent, which consent shall not be unreasonably withheld or delayed: (a) amend, renew or extend any Lease in any respect, unless required by law or the terms of the existing lease; (b) grant a written Lease to any tenant occupying space without a written lease; or (c) terminate any lease or tenancy except by reason of a default by the tenant thereunder. Between the expiration of the Inspection Period and Closing, Seller shall not permit occupancy of, or enter into any new Lease for, space in the Property which is presently vacant or which may hereafter become vacant without first giving Purchaser written notice of the identity of the proposed tenant, together with (a) a copy of the proposed Lease and a summary of the terms thereof in reasonable detail and (b) a statement of each the amount of the brokerage commission, if any, payable in connection therewith and the terms of payment thereof. If Purchaser approves such new lease proposed Lease, Purchaser shall so notify Seller within four (4) business days after receipt of Seller’s notice if such notice was personally delivered to Purchaser, or proposal. After within seven (7) business days after the Due Diligence Deadlinemailing of such notice by Seller to Purchaser, in which case Seller shall enter into the proposed Lease, and the Reletting Expenses (as hereinafter defined) shall be prorated in each case over the term of the lease and apportioned as of the Closing and credited in favor of Seller at least three (3) Business Days prior Closing. If Purchaser does not approve such proposed Lease, provided such Lease was at market rates and otherwise market terms, Seller shall be credited at Closing the rent and additional rent that would have been payable under the proposed Lease, from the date on which the tenant’s obligation to becoming legally bound with respect to any new lease pay rent would have commenced if Purchaser had not objected until the Closing, less the amount of the brokerage commission specified in Seller’s notice and the reasonable cost of decoration or other agreement or modification of the existing Leases or other agreement, LGI De shall consult with and seek the consent of NetREIT, and shall provide reasonable detail to NetREIT including, at NetREIT's request, copies of the relevant documentation, with respect thereto. Any consent work required to be given performed by NetREIT pursuant to this Section 7.2 shall be granted or withheld in NetREIT's sole and absolute discretion, and shall be deemed denied if NetREIT does not respond in writing to LGI De's request for said consent within five (5) Business Days after receipt thereof. Prior to the Closing Date, LGI De shall have the right, but not the obligation (except to the extent that LGI De's failure to act shall constitute a waiver of such rights or remedies), to enforce the rights and remedies of the landlord under the Leasesterms of the proposed lease to suit the premises to the tenant’s occupancy (the “Reletting Expenses”), prorated in each case over the term of the proposed lease and apportioned as of the Closing. In no event shall the amount so credited to Seller for the Reletting Expenses exceed the sums actually paid by summary proceedings or otherwiseSeller on account thereof. (b) If any space is vacant at the time of Closing, but Purchaser shall accept the Property subject to such vacancy. From and after the expiration of the Due Diligence DeadlineInspection Period, LGI De Seller shall not apply all grant any concessions or rent abatements for any portion period following the Closing without Purchaser’s prior written consent. Subject to the provisions of Section 3.6(c), Seller does not warrant that any particular Lease or tenancy will be in force or effect at the Closing or that the tenants will have performed their obligations thereunder. The termination of any security deposit then held by LGI De toward any loss Lease or damage incurred by LGI De tenancy prior to the Closing by reason of the tenant’s default shall not affect the obligations of Purchaser under this contract in any defaults by any tenants under manner or entitle Purchaser to an abatement of or credit against the Leases. With respect Purchase Price or give rise to any application by LGI De, prior to other claim on the expiration part of the Due Diligence Deadline, of any tenant security deposit held by LGI De, LGI De will deliver, in connection with any such application, written notice to the applicable tenant(s) under the Leases indicating that its security deposit has been or is being so applied. LGI De shall provide NetREIT with written notice within three (3) Business Days after any action taken by LGI De pursuant to the foregoing provisionsPurchaser.

Leasing. Without limiting Except as set forth on Schedule C annexed hereto and made a part hereof, Mortgagor represents that there are no Leases now in effect. Mortgagor shall not enter into any Lease of all or any part of the foregoingPremises or amend, but renew, extend or otherwise modify in any material respect any Lease, or, except for security deposits, accept rent for a period of more than three months in advance, without in each instance obtaining Mortgagee's prior written consent thereto which consent shall not be unreasonably withheld or delayed. Mortgagor shall not terminate, cancel or permit a surrender, termination or cancellation of any Lease except where the tenant or lessee under such Lease is in default thereunder. Mortgagor shall deliver to Mortgagee a duplicate original of each Lease promptly after the execution thereof. At the option of Mortgagee, each Lease, and all renewals, replacements, extensions, and modifications thereof, and all rights of the tenant thereunder, shall be subject and subordinate to this Mortgage, and to each and every advance made or thereafter made hereunder or under the Notes secured hereby and to all renewals, additions, supplements, modifications, consolidations, spreaders, replacements, and extensions of this Mortgage and all future Leases shall contain provisions obligating the lessees thereunder during the continuance of a Default hereunder to attorn to Mortgagee or any purchaser therefrom if Mortgagee or such purchaser succeeds to the interest of Mortgagor under such Lease. Mortgagor shall fully and promptly perform all of the obligations to be performed by the lessor under any and all Leases. Mortgagor shall do all things necessary to compel the performance and observance of each and every obligation to be performed or observed by the lessees under such Leases. Mortgagor shall give prompt notice to Mortgagee of (a) any notice received by Mortgagor of any default by the lessor under any Lease, (b) the commencement of any action or proceeding by any tenant the purpose of which shall be the cancellation of any Lease or a diminution or abatement of the rent payable thereunder, (c) any notice of default given by Mortgagor to the tenant under any Lease, or (d) the interposition by any tenant of any defense or counterclaim in any action or proceeding brought by Mortgagor against such tenant; and Mortgagor will cause a copy of any process, pleading or notice received or served by Mortgagor in reference to any such action, defense or claim to be promptly delivered to Mortgagee. Mortgagor shall hold in trust all security deposits and advance rent given on account of any Lease, and deposit such security in a bank or trust company and shall not commingle such funds with other funds. Mortgagor shall repay or apply such funds only in accordance with the provisions of this Section 7.2, from the Agreement Date through the Due Diligence Deadline LGI De shall, in the ordinary course, negotiate with prospective tenants and enter into new leases (on terms that LGI De believes, in its commercially reasonable business judgment, to be market terms), enforce the terms of the Leases in all material respects and perform in all material respects all of landlord's obligations under the Leases. LGI De will promptly notify NetREIT of any new leases entered into by, or proposals to enter into new leases made by, LGI De at least two (2) Business Days prior to the Due Diligence Deadline and provide NetREIT with a summary of the terms of each such new lease or proposal. After the Due Diligence Deadline, and at least three (3) Business Days prior to becoming legally bound with respect to any new lease or other agreement or modification of the existing Leases or other agreement, LGI De shall consult with and seek the consent of NetREIT, and shall provide reasonable detail to NetREIT including, at NetREIT's request, copies of the relevant documentation, with respect thereto. Any consent to be given by NetREIT pursuant to this Section 7.2 shall be granted or withheld in NetREIT's sole and absolute discretion, and shall be deemed denied if NetREIT does not respond in writing to LGI De's request for said consent within five (5) Business Days after receipt thereof. Prior to the Closing Date, LGI De shall have the right, but not the obligation (except to the extent that LGI De's failure to act shall constitute a waiver of such rights or remedies), to enforce the rights and remedies of the landlord under the Leases, by summary proceedings or otherwise, but after the expiration of the Due Diligence Deadline, LGI De shall not apply all or any portion of any security deposit then held by LGI De toward any loss or damage incurred by LGI De by reason of any defaults by any tenants under the Leases. With respect to any application by LGI De, prior to the expiration of the Due Diligence Deadline, of any tenant security deposit held by LGI De, LGI De will deliver, in connection with any such application, written notice to the applicable tenant(s) under the Leases indicating that its security deposit has been or is being so applied. LGI De shall provide NetREIT with written notice within three (3) Business Days after any action taken by LGI De pursuant to the foregoing provisionsLeases.

Leasing. Without limiting Except as set forth on Schedule C annexed hereto and made a part hereof, Mortgagor represents that there are no Leases now in effect. Mortgagor shall not enter into any Lease of all or any part of the foregoingPremises or amend, but renew, extend or otherwise modify in any material respect any Lease, or, except for security deposits, accept rent for a period of more than three months in advance, without in each instance obtaining Mortgagee's prior written consent thereto which consent shall not be unreasonably withheld or delayed. Mortgagor shall not terminate, cancel or permit a surrender, termination or cancellation of any Lease except where the tenant or lessee under such Lease is in default thereunder. Mortgagor shall deliver to Mortgagee a duplicate original of each Lease promptly after the execution thereof. At the option of Mortgagee, each Lease, and all renewals, replacements, extensions, and modifications thereof, and all rights of the tenant thereunder, shall be subject and subordinate to this Mortgage, and to each and every advance made or thereafter made hereunder or under the Notes secured hereby and to all renewals, additions, supplements, modifications, consolidations, spreaders, replacements, and extensions of this Mortgage and all future Leases shall contain provisions obligating the lessees thereunder during the continuance of a Default hereunder to attorn to Mortgagee or any purchaser therefrom if Mortgagee or such purchaser succeeds to the interest of Mortgagor under such Lease. Mortgagor shall fully and promptly perform all of the obligations to be performed by the lessor under any and all Leases. Mortgagor shall do all NY1-497038 EXECUTION things necessary to compel the performance and observance of each and every obligation to be performed or observed by the lessees under such Leases. Mortgagor shall give prompt notice to Mortgagee of (a) any notice received by Mortgagor of any default by the lessor under any Lease, (b) the commencement of any action or proceeding by any tenant the purpose of which shall be the cancellation of any Lease or a diminution or abatement of the rent payable thereunder, (c) any notice of default given by Mortgagor to the tenant under any Lease, or (d) the interposition by any tenant of any defense or counterclaim in any action or proceeding brought by Mortgagor against such tenant; and Mortgagor will cause a copy of any process, pleading or notice received or served by Mortgagor in reference to any such action, defense or claim to be promptly delivered to Mortgagee. Mortgagor shall hold in trust all security deposits and advance rent given on account of any Lease, and deposit such security in a bank or trust company and shall not commingle such funds with other funds. Mortgagor shall repay or apply such funds only in accordance with the provisions of this Section 7.2, from the Agreement Date through the Due Diligence Deadline LGI De shall, in the ordinary course, negotiate with prospective tenants and enter into new leases (on terms that LGI De believes, in its commercially reasonable business judgment, to be market terms), enforce the terms of the Leases in all material respects and perform in all material respects all of landlord's obligations under the Leases. LGI De will promptly notify NetREIT of any new leases entered into by, or proposals to enter into new leases made by, LGI De at least two (2) Business Days prior to the Due Diligence Deadline and provide NetREIT with a summary of the terms of each such new lease or proposal. After the Due Diligence Deadline, and at least three (3) Business Days prior to becoming legally bound with respect to any new lease or other agreement or modification of the existing Leases or other agreement, LGI De shall consult with and seek the consent of NetREIT, and shall provide reasonable detail to NetREIT including, at NetREIT's request, copies of the relevant documentation, with respect thereto. Any consent to be given by NetREIT pursuant to this Section 7.2 shall be granted or withheld in NetREIT's sole and absolute discretion, and shall be deemed denied if NetREIT does not respond in writing to LGI De's request for said consent within five (5) Business Days after receipt thereof. Prior to the Closing Date, LGI De shall have the right, but not the obligation (except to the extent that LGI De's failure to act shall constitute a waiver of such rights or remedies), to enforce the rights and remedies of the landlord under the Leases, by summary proceedings or otherwise, but after the expiration of the Due Diligence Deadline, LGI De shall not apply all or any portion of any security deposit then held by LGI De toward any loss or damage incurred by LGI De by reason of any defaults by any tenants under the Leases. With respect to any application by LGI De, prior to the expiration of the Due Diligence Deadline, of any tenant security deposit held by LGI De, LGI De will deliver, in connection with any such application, written notice to the applicable tenant(s) under the Leases indicating that its security deposit has been or is being so applied. LGI De shall provide NetREIT with written notice within three (3) Business Days after any action taken by LGI De pursuant to the foregoing provisionsLeases.

Leasing. Without limiting Except as set forth on Schedule C annexed hereto and made a part hereof, Mortgagor represents that there are no Leases now in effect. Mortgagor shall not enter into any Lease of all or any part of the foregoingPremises or amend, but renew, extend, abridge, cancel, terminate (or commence any summary proceeding or other action in pursuance thereof), or otherwise modify any Lease, or accept rent for a period of more than one month in advance, without in each instance obtaining Mortgagee's prior written consent thereto. Mortgagor shall deliver to Mortgagee a duplicate original of each Lease promptly after the execution thereof. At the option of Mortgagee, each Lease, and all renewals, replacements, extensions, and modifications thereof, and all rights of the tenant thereunder, shall be subject and subordinate to this Mortgage, and to each and every advance made or thereafter made hereunder or under the Notes secured hereby and to all renewals, additions, supplements, modifications, consolidations, spreaders, replacements, and extensions of this Mortgage and all future Leases shall contain provisions obligating the lessees thereunder to attorn to Mortgagee or any purchaser therefrom if Mortgagee or such purchaser succeeds to the interest of Mortgagor under such Lease. Mortgagor shall fully and promptly perform all of the obligations to be performed by the lessor under any and all Leases. Mortgagor shall enforce the performance and observance of each and every obligation to be performed or observed by the lessees under such Leases. Mortgagor shall give prompt notice to Mortgagee of (a) any notice received by Mortgagor of any default by the lessor under any Lease, (b) the commencement of any action or proceeding by any tenant the purpose of which shall be the cancellation of any Lease or a diminution or abatement of the rent payable thereunder, (c) any notice of default given by Mortgagor to the tenant under any Lease, or (d) the interposition by any tenant of any defense or counterclaim in any action or proceeding brought by Mortgagor against such tenant; and Mortgagor will cause a copy of any process, pleading or notice received or served by Mortgagor in reference to any such action, defense or claim to be promptly delivered to Mortgagee. Mortgagor shall hold in trust all security deposits and advance rent given on account of any Lease, and deposit such security in a bank or trust company and shall not mingle such funds with other funds. Mortgagor shall repay or apply such funds only in accordance with the provisions of this Section 7.2, from the Agreement Date through the Due Diligence Deadline LGI De shall, in the ordinary course, negotiate with prospective tenants and enter into new leases (on terms that LGI De believes, in its commercially reasonable business judgment, to be market terms), enforce the terms of the Leases in all material respects and perform in all material respects all of landlord's obligations under the Leases. LGI De will promptly notify NetREIT of any new leases entered into by, or proposals to enter into new leases made by, LGI De at least two (2) Business Days prior to the Due Diligence Deadline and provide NetREIT with a summary of the terms of each such new lease or proposal. After the Due Diligence Deadline, and at least three (3) Business Days prior to becoming legally bound with respect to any new lease or other agreement or modification of the existing Leases or other agreement, LGI De shall consult with and seek the consent of NetREIT, and shall provide reasonable detail to NetREIT including, at NetREIT's request, copies of the relevant documentation, with respect thereto. Any consent to be given by NetREIT pursuant to this Section 7.2 shall be granted or withheld in NetREIT's sole and absolute discretion, and shall be deemed denied if NetREIT does not respond in writing to LGI De's request for said consent within five (5) Business Days after receipt thereof. Prior to the Closing Date, LGI De shall have the right, but not the obligation (except to the extent that LGI De's failure to act shall constitute a waiver of such rights or remedies), to enforce the rights and remedies of the landlord under the Leases, by summary proceedings or otherwise, but after the expiration of the Due Diligence Deadline, LGI De shall not apply all or any portion of any security deposit then held by LGI De toward any loss or damage incurred by LGI De by reason of any defaults by any tenants under the Leases. With respect to any application by LGI De, prior to the expiration of the Due Diligence Deadline, of any tenant security deposit held by LGI De, LGI De will deliver, in connection with any such application, written notice to the applicable tenant(s) under the Leases indicating that its security deposit has been or is being so applied. LGI De shall provide NetREIT with written notice within three (3) Business Days after any action taken by LGI De pursuant to the foregoing provisionsLeases.

Leasing. Without limiting (a) Unless a specific Scheduled Delivery Date has been agreed in the foregoingEngine Lease Agreement, Lessor shall notify in writing Lessee of the Scheduled Delivery Date as soon as possible, but no later than at least thirty (30) days prior to the anticipated Delivery Date. Subject to Section 4.4 (Delayed Delivery), Lessor will lease the Engine to Lessee and Lessee, subject to compliance of the provisions Engine with the Delivery Condition Requirements and satisfaction of the other Lessee Conditions Precedent, will take the Engine on lease for the Term, which shall be evidenced by Lessee’s execution of Lease Supplement No. (b) If (i) Lessee is unwilling or unable to accept delivery of the Engine on the date on which Lessor tenders the Engine for Delivery to Lessee in compliance with the Delivery Condition Requirements and under and in accordance with Section 4.3(a), or Lessee fails to fulfill any Lessor Condition Precedent on or before such date or fails to perform any of its obligations under the Lease which are required to be performed by Lessee, and (ii) the Lessee Conditions Precedent have been satisfied (or could reasonably be expected to be satisfied if Delivery were occurring), then the Rent Commencement Date for the Engine shall be deemed to have occurred on the date on which the Engine is tendered by Lessor for Delivery in accordance with subsection (ii) of this Section 7.24.1(b), and Lessee shall be obligated to pay Rent for the Engine on and from such date regardless of whether the Delivery Date occurs or whether Lessee executes Lease Supplement No. 1, but Lessor shall have no obligation to deliver the Engine unless and until all Lessor Conditions Precedent have been satisfied (or could reasonably be expected to be satisfied if Delivery were occurring). In no event shall Lessee have or be deemed to have a lease interest or other possessory right to the Engine until Lessor tenders and Lessee accepts delivery of the Engine as evidenced by their execution of Lease Supplement No. (c) Lessee will be responsible for all risks associated with (i) the use and operation of the Engine and (ii) any loss of or damage to the Engine from the Agreement Delivery Date through the Due Diligence Deadline LGI De shall, in the ordinary course, negotiate with prospective tenants and enter into new leases (on terms that LGI De believes, in its commercially reasonable business judgment, to be market terms), enforce the terms until possession of the Leases in all material respects and perform in all material respects all of landlord's obligations under Engine is returned to Lessor on the Leases. LGI De will promptly notify NetREIT of any new leases entered into by, or proposals to enter into new leases made by, LGI De at least two (2) Business Days prior to the Due Diligence Deadline and provide NetREIT with a summary of the terms of each such new lease or proposal. After the Due Diligence Deadline, and at least three (3) Business Days prior to becoming legally bound with respect to any new lease or other agreement or modification of the existing Leases or other agreement, LGI De shall consult with and seek the consent of NetREIT, and shall provide reasonable detail to NetREIT including, at NetREIT's request, copies of the relevant documentation, with respect thereto. Any consent to be given by NetREIT pursuant to this Section 7.2 shall be granted or withheld in NetREIT's sole and absolute discretion, and shall be deemed denied if NetREIT does not respond in writing to LGI De's request for said consent within five (5) Business Days after receipt thereof. Prior to the Closing Date, LGI De shall have the right, but not the obligation (except to the extent that LGI De's failure to act shall constitute a waiver of such rights or remedies), to enforce the rights and remedies of the landlord under the Leases, by summary proceedings or otherwise, but after the expiration of the Due Diligence Deadline, LGI De shall not apply all or any portion of any security deposit then held by LGI De toward any loss or damage incurred by LGI De by reason of any defaults by any tenants under the Leases. With respect to any application by LGI De, prior to the expiration of the Due Diligence Deadline, of any tenant security deposit held by LGI De, LGI De will deliver, in connection with any such application, written notice to the applicable tenant(s) under the Leases indicating that its security deposit has been or is being so applied. LGI De shall provide NetREIT with written notice within three (3) Business Days after any action taken by LGI De pursuant to the foregoing provisionsReturn Occasion.

Leasing. Without limiting Manager may select a licensed real estate broker to offer for Pure Cycle’s account, for rental, all Premises that are available for lease. Manager is authorized to advertise the foregoingPremises, but subject to prepare and secure marketing plans, descriptive material and other forms of advertising, and to advertise to brokers who shall be paid from the Operating Account in accordance with a commission or brokerage agreement entered into by Manager prior to the provisions leasing of this Section 7.2any such Premises. (a) All inquiries concerning Leases, from the Agreement Date through the Due Diligence Deadline LGI De shallrenewals, expansions, extensions or continuations of tenancy, for property in the ordinary coursePremises or any part thereof, negotiate shall be referred to the Manager. Manager will provide Pure Cycle with prospective tenants annual reports of all property available for leasing and enter into new leases subleasing and will provide Pure Cycle with more frequent updates upon Pure Cycle’s request. (on terms that LGI De believes, in its commercially reasonable business judgment, to b) Without the prior written consent of Pure Cycle (which shall not be market termsunreasonably withheld if Manager requests such consent be granted), enforce no Lease will be entered into for property in the terms of Premises that does not comply with the Leases in all material respects and perform in all material respects all of landlord's obligations under the LeasesLeasing Parameters (defined below). LGI De will promptly notify NetREIT Upon execution by any tenant of any new leases entered into byLease, or proposals Lease modification, Lease renewal, etc., Manager shall forward all documents related thereto to enter into new leases made byPure Cycle for approval and execution. Such Leases, LGI De at least two if accepted by Pure Cycle (2) Business Days prior to the Due Diligence Deadline and provide NetREIT with a summary of the terms of each which acceptance shall not be unreasonably withheld if Manager requests such new lease or proposal. After the Due Diligence Deadlineconsent be granted), and at least three (3) Business Days prior to becoming legally bound with respect to any new lease or other agreement or modification of the existing Leases or other agreement, LGI De shall consult with and seek the consent of NetREIT, and shall provide reasonable detail to NetREIT including, at NetREIT's request, copies of the relevant documentation, with respect thereto. Any consent to be given by NetREIT pursuant to this Section 7.2 shall be granted or withheld in NetREIT's sole executed and absolute discretion, and shall be deemed denied if NetREIT does not respond in writing returned to LGI De's request for said consent Manager within five (5) Business Days after receipt thereofbusiness days (excluding national holidays and weekends) of receipt. Prior to If such Leases are rejected, Pure Cycle shall reject it and inform Manager of the Closing Date, LGI De shall have the right, but reasons for rejecting it within five (5) business days of receipt. If Pure Cycle does not the obligation (except to the extent that LGI De's failure to act shall constitute a waiver notify Manager of Pure Cycle’s acceptance of such rights or remediesLeases within said five (5) business day period, they will be deemed rejected. (c) Parameters: The Leasing Parameters, attached hereto as Exhibit B (the “Leasing Parameters”), may, from time to enforce time, be changed and/or amended by Pure Cycle in the rights and remedies exercise of its reasonable business judgment after consultation with the landlord under the LeasesManager, by summary proceedings or otherwise, but after the expiration of the Due Diligence Deadline, LGI De shall not apply all or any portion of any security deposit then held by LGI De toward any loss or damage incurred by LGI De by reason of any defaults by any tenants under the Leases. With respect to any application by LGI De, prior to the expiration of the Due Diligence Deadline, of any tenant security deposit held by LGI De, LGI De will deliver, in connection with any such application, upon written notice to Manager. Leases within the applicable tenant(s) Leasing Parameters shall be drawn by Manager on the lease form which is typical of similar leases used for similar property in the area of the Premises and approved by Pure Cycle. All other Leases shall be negotiated on a case-by-case basis with the cooperation and involvement of both Pure Cycle and Manager but in all events subject to Pure Cycle’s prior approval. The Adverse Decision provisions of Section 2.1 apply to Pure Cycle’s decisions under the Leases indicating that its security deposit has been or is being so applied. LGI De shall provide NetREIT with written notice within three (3) Business Days after any action taken by LGI De pursuant to the foregoing provisionsthis Section.