0001104659-05-043143 Sample Contracts

BUSINESS MANAGEMENT AGREEMENT
Business Management Agreement • September 7th, 2005 • Inland American Real Estate Trust, Inc. • Real estate investment trusts • Illinois

THIS BUSINESS MANAGEMENT AGREEMENT (this “Agreement”), dated as of August 31, 2005, is entered into by and between INLAND AMERICAN REAL ESTATE TRUST, INC., a Maryland corporation (the “Company”), and INLAND AMERICAN BUSINESS MANAGER & ADVISOR INC., an Illinois corporation (the “Business Manager”).

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MASTER MANAGEMENT AGREEMENT
Master Management Agreement • September 7th, 2005 • Inland American Real Estate Trust, Inc. • Real estate investment trusts • Illinois

THIS MASTER MANAGEMENT AGREEMENT (this “Agreement”), dated as of August 31, 2005, is entered into by and between INLAND AMERICAN REAL ESTATE TRUST, INC., a Maryland corporation (the “Company”), and INLAND AMERICAN APARTMENT MANAGEMENT LLC, a Delaware limited liability company (the “Property Manager”).

PROPERTY ACQUISITION AGREEMENT
Property Acquisition Agreement • September 7th, 2005 • Inland American Real Estate Trust, Inc. • Real estate investment trusts • Illinois

THIS PROPERTY ACQUISITION AGREEMENT (this “Agreement”) is entered into as of August 31, 2005 by and between INLAND REAL ESTATE ACQUISITIONS, INC., an Illinois corporation (“Acquisitions”), and INLAND AMERICAN REAL ESTATE TRUST, INC., a Maryland corporation (the “Company”). Acquisitions and the Company are sometimes referred to herein individually as a “Party” and collectively as the “Parties.”

INLAND AMERICAN REAL ESTATE TRUST, INC. SHARES OF COMMON STOCK $.001 PAR VALUE PER SHARE DEALER MANAGER AGREEMENT August 31, 2005 Inland Securities Corporation 2901 Butterfield Road Oak Brook, Illinois 60523
Dealer Manager Agreement • September 7th, 2005 • Inland American Real Estate Trust, Inc. • Real estate investment trusts • Illinois

Inland American Real Estate Trust, Inc., a Maryland corporation formed on October 4, 2004 (the “Company”), and governed by bylaws (as may be amended from time to time, the “Bylaws”) and Articles of Incorporation (as may be amended from time to time, the “Articles”) in the form incorporated by reference into the Registration Statement, as described in Section 1(a) hereof (the Bylaws and Articles being hereinafter referred to as the “Organizational Documents”), is offering, upon the terms and conditions set forth in the Prospectus (as defined below), (i) on a “best efforts” basis up to 500,000,000 shares of common stock, $.00l par value per share (the “Shares”) for a purchase price of $10.00 per Share with a minimum initial investment of $3,000 ($1,000 in the case of tax-exempt entities) and (ii) up to 40,000,000 Shares for a purchase price of $9.50 per Share for issuance through the Company’s distribution reinvestment plan (collectively the “Offering”). Each subscriber will be required

ESCROW AGREEMENT
Escrow Agreement • September 7th, 2005 • Inland American Real Estate Trust, Inc. • Real estate investment trusts • Illinois

THIS ESCROW AGREEMENT (this “Agreement”) is made and entered into as of the 31st day of August, 2005, by and among INLAND AMERICAN REAL ESTATE TRUST, INC., a Maryland corporation (the “Company”), INLAND SECURITIES CORPORATION, a Delaware corporation (the “Dealer Manager”) and LASALLE BANK NATIONAL ASSOCIATION, a national banking association (the “Escrow Agent”).

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