0001104659-05-035254 Sample Contracts

MASTER INDENTURE DATED AS OF JULY 26, 2005
Master Indenture • August 1st, 2005 • Spirit Finance Corp • Real estate investment trusts • New York

MASTER INDENTURE, dated as of July 26, 2005 (as amended, modified or supplemented from time to time as permitted hereby, the “Indenture”), between Spirit Master Funding, LLC, a Delaware limited liability company, as issuer (the “Issuer”) and Citibank, N.A., a national banking association, not in its individual capacity, but solely as Indenture Trustee (the “Indenture Trustee”) under this Indenture.

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PROPERTY MANAGEMENT AND SERVICING AGREEMENT Dated as of July26, 2005
Property Management Agreement • August 1st, 2005 • Spirit Finance Corp • Real estate investment trusts • New York

WHEREAS, pursuant to that certain Property Management and Servicing Agreement, dated as of July 26, 2005 (the “Agreement”), among Spirit Master Funding, LLC, as Issuer (the “Issuer”), Spirit Finance Corporation (“Spirit Finance”), as property manager (the “Property Manager”) and special servicer (the “Special Servicer”), and Midland Loan Services, Inc., as back-up manager (the “Back-Up Manager”), the [Property Manager] [Special Servicer] (hereafter, the “Servicer”) administers and services certain “Mortgaged Properties” and “Leases” as such terms are defined in the Agreement, in accordance with the terms of the Agreement and such Leases, and,

SPIRIT MASTER FUNDING, LLC Issuer and CITIBANK, N.A. Indenture Trustee
Master Indenture • August 1st, 2005 • Spirit Finance Corp • Real estate investment trusts • New York
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