Extract to table

50% of the outstanding principal balance (currently $1,200,000), payable upon repayment of the Bridge Credit Facility in full, which exit fee shall be waived in the event that the Bridge Credit Facility is repaid from the proceeds of permanent CMBS financing on or before March 31, 2026; and E

00% of the proposed loan amount (reference number CL-CMBS-2025-09-0347), is required to be submitted with the formal loan application to secure the proposed fixed interest rate

Donahue, Senior Vice President, Capital Markets, are each individually authorized and empowered to execute ancillary documents, certificates, instruments, and filings (other than the principal Loan Documents enumerated in clauses (a) and (c) of the preceding paragraph, which shall require execution by Mr

Any one of the foregoing authorized officers, acting individually and without the joinder or consent of any other officer, shall have full power and authority to act on behalf of Fairwater Real Estate Investment Trust with respect to the matters described in these resolutions, and the signature of any one such authorized officer on any document, instrument, certificate, or agreement shall be sufficient to bind Fairwater

Resolution 12 — Delegation of Authority for Ministerial Matters RESOLVED FURTHER, that the authorized officers designated in Resolution 10 above are hereby empowered to determine, without further action or approval of the Board of Trustees, the following ministerial and operational matters in connection with the Permanent Loan: (a) The final closing date of the Permanent Loan, which is targeted for on or before November 28, 2025, but which shall in any event occur prior to the maturity date of the Bridge Credit Facility (December 31, 2025); (b) The exact terms of the amortization schedule, including the specific monthly payment amounts and the allocation of principal and interest; (c) Reserve amounts for taxes, insurance, capital replacements, and other reserves required by Clarendon Metropolitan; (d) The terms and conditions of the cash management and lockbox arrangements, including the designation of the depository bank and the establishment of reserve accounts; (e) The appointment of independent directors or independent managers for each SPE Borrower; and (f) Such other operational, administrative, and ministerial terms as may be required to finalize the Loan Documents; provided, however, that such terms shall be consistent with the economic framework described in these resolutions, including, without limitation, the following parameters: (i) the aggregate principal amount of the Permanent Loan shall not exceed $240,000,000; (ii) the fixed interest rate shall not exceed 6

50% per annum; (iii) the term of the Permanent Loan shall be not less than ten (10) years; and (iv) the amortization schedule shall be based on a period of not less than thirty (30) years