Extract to table

" RECITALS WHEREAS, Seller, through its affiliate Service Provider, has been providing property management and related services for the Portfolio (as defined in the Purchase Agreement) consisting of fourteen (14) properties located in the States of Georgia, Texas, Florida, Tennessee, and North Carolina, comprising approximately 5,224,000 rentable square feet of logistics and office space (the "Portfolio"); WHEREAS, Buyer has designated Recipient as its property management affiliate to assume property management responsibilities for the Portfolio following the closing of the transactions contemplated by the Purchase Agreement (the "Closing"), and Recipient is prepared to undertake such responsibilities upon completion of an orderly transition; WHEREAS, in connection with the Closing, Buyer desires that Service Provider continue to provide certain transitional property management, accounting, and operational services for a limited period to facilitate an orderly transition of management from Service Provider to Recipient, and Service Provider is willing to provide such services on the terms and conditions set forth herein; WHEREAS, the Portfolio comprises ten (10) logistics properties and four (4) office properties across five (5) states, encumbered by eighty-seven (87) leases (the "Tenant Leases") and serviced by approximately sixty-three (63) service contracts, and the scope and complexity of the Portfolio necessitate a structured transition process; WHEREAS, Sean Kilpatrick, Portfolio Manager of Service Provider, has been the primary point of contact for property-level management and operations with respect to the Portfolio and possesses institutional knowledge critical to the orderly transition of management responsibilities; WHEREAS, Leah Torrance, SVP, Asset Management of Buyer and SVP Operations of Recipient, will serve as the primary point of contact for Recipient during the Transition Period (as defined below) and will be responsible for coordinating Recipient's assumption of property management responsibilities; and NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: ARTICLE I DEFINITIONS As used in this Agreement, the following terms shall have the meanings set forth below

Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Purchase Agreement

During the Transition Period, Service Provider shall provide the following property management services with respect to all fourteen (14) Properties: (a) Day-to-Day Operations

Service Provider shall provide Recipient with access to all vendor contact information, contracts, and performance records

Service Provider shall promptly notify Recipient of any emergency or material incident at any Property

Service Provider shall not commence any new capital improvement work or authorize any capital expenditure exceeding Twenty-Five Thousand Dollars ($25,000) per Property without the prior written consent of Recipient, except in the case of an emergency threatening the safety of persons or property, in which case Service Provider shall use commercially reasonable efforts to notify Recipient as promptly as practicable