Extract to table

GRUNDSCHULDBESTELLUNGSURKUNDE (Deed of Creation of a Land Charge) — English Translation for Reference Purposes Only — In the event of any discrepancy between the German original and this English translation, the German-language version shall prevail in all respects

The deed shall become effective upon its execution before the notary

The appearing parties are aware of the non-accessory nature of the land charge and the implications thereof, including the requirement that any enforcement of the land charge must comply with the terms and conditions set forth in the Security Purpose Agreement

The land charge shall be registered in the land register as a book land charge (Buchgrundschuld) in accordance with Section 1116, paragraph 2, sentence 3 of the German Civil Code

Ranking: The land charge shall be registered at first priority (erstrangig) in Section III (Abteilung III) of the land register

As of the date of this deed, there are no prior-ranking encumbrances in Section III of the land register, and IHDC Frankfurt covenants that no such prior-ranking encumbrances shall be created or permitted to be created prior to the registration of this land charge