December 4, 2015

Re:Purchase of 3650 RCA Blvd, Palm Beach Gardens, Florida

Please consider this offer to buy the referenced property under the following terms:

Property:3650 RCA Blvd

Palm Beach Gardens, FL 33410

Consisting of +/- 10.44 aces of land with a ±17,000SF office structure with parking areas and outside storage OR +/- 5 acres of land consisting of the western half of the property.

Purchase Price:$______.

Deposit:$______at Contract execution [5% of the Purchase Price is recommended].

SECOND DEPOSIT:$______at the expiration of the Due Diligence Period.[Additional 5% of the Purchase Price is recommended for a total of 10%]. Both Deposits will be non-refundable at the expiration of the Due Diligence Period.

Terms:Cash at Closing.

Due Diligence Period:______(______) days from Contract execution. [60 days is recommended] Seller will permit reasonable access to the Property for Buyer to conduct its Due Diligence once a Purchase and Sale Agreement has been fully executed. Seller will cooperate with Buyer in the development application processonce a Purchase and Sale Agreement has been fully executed.

CONTINGENCY:NONE.

Closing:______(___) days from expiration of the Due Diligence Period. [30 days is recommended]

BROKERS:Cushman & Wakefield represents the Seller in this transaction and ______represents the Buyer. Seller shall pay Buyer’s Broker a fee of 1% of the Purchase Price at Closing. Cushman& Wakefield shall be paid pursuant to its listing agreement with Seller.

The expenses incurred by the Buyer and Seller shall be allocated in accordance with custom and practice in Palm Beach County.

Seller will provide the Buyer with specifications, surveys, and any other document that Seller has in its possession concerning the subject property within FIVE (5) days of Contract execution.

This letter constitutes only an expression of interest and shall not constitute a binding agreement between the signatories to consummate the transaction discussed herein. This letter is non-binding and is merely a reflection of the parties’ understanding of some of the general terms of the proposed saletransactions and upon which understanding the parties are willing to proceed with further discussions and negotiations. Notwithstanding the contents of this letter or any other past, present or future written or oral indications of assent or indications of results of negotiation or agreement to some or all matters then under negotiation, it is agreed that no party to the proposed transaction (and no person or entity related to any such party) will be under any legal obligations with respect to the proposed transaction or any similar transactions, and no offer, commitment, estoppel, undertaking or obligation of any nature whatsoever shall exist or be implied in fact, law or equity, unless and until a formal written agreement providing for the transaction containing in detailed legal form the terms and conditions of the transaction has been executed and delivered by all parties intended to be bound. Both parties acknowledge and agree that during the course of negotiations the parties may reach agreement on certain points related to the proposed transaction, but agree that neither party shall be entitled to rely upon any such agreements, or any statements or representations that may be made during the course of discussions and negotiations, nor shall there be any legal obligations related thereto, until the parties have executed a formal written agreement setting forth in detailed legal form all of the terms and conditions of the proposed transaction. This paragraph sets forth the entire understanding and agreement of the parties (and all related persons and entities) with regard to the subject matter of this paragraph and supersedes all prior and contemporaneous agreements and understandings related thereto. This paragraph may be amended, modified, superseded or canceled only by written instrument which specifically states that it amends this paragraph executed by an authorized party of each entity to be bound thereby.

If the general terms of the proposed sale are acceptable to you, please sign below and return this letter to my attention within five (5) business days from the date hereof.

I look forward to hearing from you.

Sincerely,

AGREED TO AND ACCEPTED BY:

By: ______

Name: ______

Title: ______

Date: ______

No warranty or representation, express or implied, is made as to the accuracy of the information contained herein and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions, imposed by our principals.