Contract analysis

Section 1: Phase I Environmental Site Assessments The following table sets forth each Phase I Environmental Site Assessment prepared by the Environmental Consultant with respect to the fourteen (14) Properties that are the subject of the Agreement. Each report is identified by its assigned report number, the corresponding Property name and address, the Target Entity holding title to the applicable Property, the date

Section 2: Phase II Environmental Site Assessments No Phase II Environmental Site Assessments were required or conducted for any of the fourteen (14) Properties listed in Section 1 above. In connection with each Phase I ESA report, the Environmental Consultant evaluated whether conditions at the applicable Property warranted the performance of a Phase II Environmental Site Assessment pursuant to ASTM Standard Practic

Section 3: Summary of Findings The following is a summary of the aggregate findings of the fourteen (14) Phase I Environmental Site Assessments listed in Section 1: • Total Phase I ESAs Completed: Fourteen (14) of fourteen (14) Properties, representing one hundred percent (100%) of the portfolio that is the subject of the Agreement. • Properties with No Recognized Environmental Conditions (Clean): Twelve (12) of four

Section 4: Additional Environmental Documentation In addition to the fourteen (14) Phase I Environmental Site Assessments listed in Section 1 above, the following supplemental environmental documentation was made available by Seller to Buyer in the electronic data room established under Section 5.3(a) of the Agreement or was otherwise delivered to Buyer or Buyer's representatives during the Diligence Period:

1. Prior Phase I Environmental Site Assessments. Phase I ESAs prepared at the time of Seller's original acquisition of each Property (during the period 2019 through 2021), as referenced in, and incorporated by reference into, the current Phase I ESA reports prepared by the Environmental Consultant. These prior reports were prepared by various environmental consulting firms engaged by Seller's predecessors-in-interest

2. Environmental Compliance Records and Permits. All material environmental compliance records, permits, registrations, and correspondence with federal, state, and local environmental regulatory agencies maintained by each Target Entity with respect to its applicable Property, including without limitation any notices of violation, compliance orders, inspection reports, and voluntary cleanup agreements (none of which

3. Asbestos and Lead-Based Paint Survey Reports. Asbestos-containing materials (ACM) survey reports and lead-based paint (LBP) inspection reports, where applicable, primarily for the office properties within the portfolio that include improvements constructed prior to 2020. These surveys were conducted at the time of Seller's original acquisition and, where applicable, in connection with tenant improvement constructi

4. Underground Storage Tank Documentation. Documentation confirming that no underground storage tanks (USTs) are located at, or have previously been registered for, any of the fourteen (14) Properties. This confirmation is based on (i) regulatory database searches conducted by the Environmental Consultant in connection with each Phase I ESA, (ii) review of historical records and building plans maintained by each Targ

Section 5: Reliance and Certifications Each Phase I Environmental Site Assessment listed in Section 1 of this Exhibit N is addressed to, and may be relied upon by, the following parties: (a) Fairwater Real Estate Investment Trust — as Buyer under the Agreement; (b) Calderwood & Harkness LLP — as counsel to Buyer, with offices at 599 Lexington Avenue, New York, New York 10022; (c) Commonwealth National Title Insurance