TO PURCHASE AND SALE AGREEMENT
All Phases except Phase IB
Form of Post Closing Obligations Guaranty
POST CLOSING OBLIGATIONS GUARANTY
This Post Closing Obligations Guaranty (this Guaranty), dated
for reference purposes the day of December, 2012, is by and between City Investors LLC, a Washington limited liability company (Guarantor), whose address is
505 Union Station, 505 Fifth Avenue South, Suite 900, Seattle, Washington 98104, and Acorn Development LLC, a Delaware limited liability company (Purchaser), whose address is 410 Terry Avenue North, Seattle, WA 98109-5210
(Attention: General Counsel and Real Estate Manager).
A. City Place LLC, a Washington limited liability company
(Seller), as Seller, and Purchaser, as Purchaser, are simultaneously herewith entering into that certain Purchase and Sale Agreement (Amazon Phase ) of even
date herewith (the Purchase Agreement), pursuant to which Seller has agreed to sell to Purchaser and Purchaser has agreed to buy from Seller, the Property, as defined in the Purchase Agreement, located in Seattle, Washington, all
on the terms and conditions set forth in the Purchase Agreement. Capitalized terms used but not defined in this Guaranty have the meanings given in the Purchase Agreement.
B. Guarantor is an indirect owner of Seller and will benefit from the closing of the transaction contemplated by the Purchase Agreement.
C. As a condition to Purchasers execution of the Purchase Agreement, Purchaser is requiring that Guarantor execute this Guaranty
pursuant to which Guarantor guarantees certain post closing obligations of Seller under the Purchase Agreement.
THEREFORE, for and in consideration of Purchasers execution and delivery of the Purchase Agreement, and other good and valuable consideration, the receipt and sufficiency of which are acknowledged by Guarantor, Guarantor hereby agrees as
1. Guarantor irrevocably guarantees, without deduction by reason of set-off, defense (except as otherwise expressly
provided herein) or counterclaim, the full, punctual, and complete payment and performance of the [Alley ObligationsIa, III, and IV, the TI Obligations III, the Easement Obligations II, III, and the Completion Obligations
V] of Seller to Purchaser under the Purchase Agreement, all as defined in the Purchase Agreement (collectively, the Secured Obligations), plus reasonable costs and expenses of collection incurred by Purchaser in enforcing its
rights and remedies under this Guaranty as described in Section 8 below.