0001193125-03-028542 Sample Contracts

FORM OF AGREEMENT OF LIMITED PARTNERSHIP OF WELLS OPERATING PARTNERSHIP III, L.P.
Wells Real Estate Investment Trust Iii Inc • August 4th, 2003 • Delaware

Wells Operating Partnership III, L.P. (the “Partnership”) was formed as a limited partnership under the laws of the State of Delaware, pursuant to a Certificate of Limited Partnership filed with the Office of the Secretary of State of the State of Delaware effective as of July 17, 2003. This Agreement of Limited Partnership is entered into this day of , 2003 between Wells Real Estate Investment Trust III, Inc., a Maryland corporation (the “General Partner”) and the Limited Partner(s) set forth on Exhibit A hereto (the “Agreement”).

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FORM OF PROPERTY MANAGEMENT, LEASING AND ASSET MANAGEMENT AGREEMENT
And Asset Management Agreement • August 4th, 2003 • Wells Real Estate Investment Trust Iii Inc • Georgia

THIS PROPERTY MANAGEMENT, LEASING AND ASSET MANAGEMENT AGREEMENT (“Agreement”) is made and entered into as of the day of , by and among WELLS REAL ESTATE INVESTMENT TRUST III, INC., a Maryland corporation (“Wells REIT III”), WELLS OPERATING PARTNERSHIP III, L.P., a Delaware limited partnership (“Owner”), and WELLS MANAGEMENT COMPANY, INC., a Georgia corporation with offices in Norcross, Georgia (“Manager”).

FORM OF ADVISORY AGREEMENT
Form of Advisory Agreement • August 4th, 2003 • Wells Real Estate Investment Trust Iii Inc • Georgia

THIS ADVISORY AGREEMENT, dated as of , 2003, is between WELLS REAL ESTATE INVESTMENT TRUST III, INC., a Maryland corporation (the “Company”), and WELLS CAPITAL, INC., a Georgia corporation (the “Advisor”).

Form of Dealer Manager Agreement WELLS REAL ESTATE INVESTMENT TRUST III, INC. Up to 100,000,000 Shares of Preferred Stock DEALER MANAGER AGREEMENT
Manager Agreement • August 4th, 2003 • Wells Real Estate Investment Trust Iii Inc • Georgia
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