0001362310-07-000817 Sample Contracts

RESTRICTED STOCK AWARD AGREEMENT
Restricted Stock Award Agreement • May 14th, 2007 • Roberts Realty Investors Inc • Real estate investment trusts • Georgia

THIS AGREEMENT (the “Agreement”) is entered into as of this 28th day of February 2007, between Roberts Realty Investors, Inc., a Georgia corporation (the “Company”), and Charles R. Elliott (the “Grantee”).

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Re: Lease Renewal Option for 450 Northridge Parkway, Suite 300
Lease Renewal Option • May 14th, 2007 • Roberts Realty Investors Inc • Real estate investment trusts

Please accept this letter as the required notice of Tenant’s exercise of one (1) of it’s three (3) one (1) year options to extend the Lease dated March 27, 2006 by and between Roberts Properties Residential, L.P., a Georgia limited partnership (“Landlord”) and Roberts Properties, Inc., a Georgia corporation (“Tenant”) (the “Lease”).

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Re: Lease Renewal Option for 450 Northridge Parkway, Suite 301
Lease Renewal Option • May 14th, 2007 • Roberts Realty Investors Inc • Real estate investment trusts

Please accept this letter as the required notice of Tenant’s exercise of one (1) of it’s three (3) one (1) year options to extend the Lease dated March 27, 2006 by and between Roberts Properties Residential, L.P., a Georgia limited partnership (“Landlord”) and Roberts Properties Construction, Inc., a Georgia corporation (“Tenant”) (the “Lease”).

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