PLAZA SALTILLO REDEVELOPMENT OVERVIEW OF TRANSACTION MARCH 17, 2016

STRUCTURE OF DOCUMENTS  Master Development Agreement: Outlines and governs initial construction of Project  Ground Lease: Governs long-term use and operation of property, and payment of rent  Developer/Tenant: Composed of Endeavor, Columbus and Equity Investor, to be adequately capitalized and financed with customary lender protections  Phases:  Phase I: Mixed-use Project (Blocks 1-5)  Phase II: Senior Project (Block 6)

CONCEPTUAL OVERALL SITE PLAN

TERM  FTA Concurrence: Documents will be signed after FTA concurrence  Commencement Date: The date the Ground Lease is signed  Rent Commencement Date: The earlier of (a) January 1, 2017 (subject to certain delays) or (b) the date Tenant commences work on the Project  Term: From Rent Commencement Date to December 31, 2115  Subject to certain termination rights by either party

RENT  First Lease Year Base Rent: $1,625,000  Base Rent Increases:  Fixed Base Rent increases during first 5 Lease Years  Variable Base Rent increases afterwards  Additional increases if square footage increases  Pre-Paid Rent: $3,298, Pre-Paid Base Rent for first 2 Lease Years; then Base Rent paid quarterly  Rent Deposit: $3,250, Rent Deposit paid at signing to be returned under certain conditions  Percentage Rent: To be paid if applicable  Triple net lease

INITIAL CONSTRUCTION OF PROJECT  Capital Metro Right to Review Design  Commencement and Completion Milestones  Green Building/LEED  B-Cycle Contribution  Development Team  Existing Agreements  Environmental Remediation  Track Realignment, Rail Crossings and Signalization  Developer Reimbursement of Certain Capital Metro Costs

WORKER PROTECTIONS  Legal Protections: Compliance with legal protections required  Safety: OSHA certification and safety equipment  Living Wage: Workers paid $11.39/hour (living wage as of June 1, 2015)  Insurance: Medical pay coverage and workers’ compensation or occupational accident insurance  Monitoring:  Project monitored by independent party with translators available  Regular reports regarding worker protections  Action required to address and resolve issues

AFFORDABLE HOUSING  Affordability: As required by TOD regulating plan with remedies for non-compliance  Increases: Possibility of increasing from 15% to 25% if public funding is available  Senior Affordable Project:  Phase II of Project  Capital Metro recapture right if not commenced with one-time payment to Capital Metro and no rent reduction

OPERATION AND USE  Class A mixed use community operation standard  Permitted uses and prohibited use restrictions  Project components may be owned by separate owners  Lease includes defaults and remedies

QUESTIONS