Broker’s Opinion of Value Report

1. Broker’s Opinion of Value Report BROKER’S OPINION OF VALUE REPORT Delete this Box & Insert Or Paste Property Photos Here Subject Property: Property Address City, State & Zip Code Prepared For: Contact Name Contact Title Company Name SUBJECT PROPERTY: Property Address City, State & Zip Code PREPARED FOR: Contact Name Contact Title Company Name Prepared By: Agent Name #1 Agent Title Agent Name #2 Agent Title Agent Name #3 Agent Title Branch Office Phone # PREPARED BY: Agent Name #1 Agent Title Agent Name #2 Agent Title Agent Name #3 Agent Title Branch Office Phone # Date: Insert Date Here www.daumcommercial.com DATE: Insert Date Here O N C O R I N T E R N A T I O N A L

2. TABLE OF CONTENTS • REVIEW OF PROPERTY I • BROKER’S OPINION OF VALUE II • Executive Summary • Approaches to Value • Comparable Data & Analysis • MARKET OVERVIEW III • MARKETING PLAN IV • General Approach • Target Market • Project Timeline • Process and Accountability • MARKETING TEAM & COMPANY PROFILE V

3. REVIEW OF PROPERTIES SECTION I www.daumcommercial.com

4. PROPERTY PHOTOGRAPHS Delete this Box & Insert Or Paste Property Photos Here Delete this Box & Insert Or Paste Property Photos Here

5. AERIAL PHOTOGRAPH Delete this Box & Insert Or Paste Aerial Photo Here

6. PROPERTY PROFILE STRUCTURE Type: Status: Year Built: Stories: Building Size: Lot Size: Zoning: Parking: Comments: • AMENITIES • Insert list of amenities here • Insert list of amenities here • Insert list of amenities here • Insert list of amenities here • Insert list of amenities here The information contained herein has been obtained from sources deemed reliable. While we have no reason to doubt the accuracy of the information, we do not guarantee it. Do not rely on any information contained herein without verifying it yourself.

7. LOCATION MAPS Delete this Box & Insert Or Paste Overview Location Map Here Delete this Box & Insert Or Paste Detail Location Map Here

8. ASSESSOR’S PARCEL MAP Assessor’s Parcel Number: Insert Parcel Number Here Delete this Box & Insert Or Paste Parcel Map Here

9. FEATURES & BENEFITS • Insert Feature / Benefit #1 • Insert Feature / Benefit #2 • Insert Feature / Benefit #3 • Insert Feature / Benefit #4 • Insert Feature / Benefit #5 • Insert Feature / Benefit #6 • Insert Feature / Benefit #7 • Insert Feature / Benefit #8 • Insert Feature / Benefit #9 • Insert Feature / Benefit #10

10. BROKER’S OPINION OF VALUE SECTION II www.daumcommercial.com

11. EXECUTIVE SUMMARY Market Approach to Value: Income Approach to Value: Cost Approach to Value: $ - $ ($ - $ / SF) $ - $ ($ - $ / SF) $ - $ ($ - $ / SF) Insert Executive Summary Here

12. MARKET APPROACH SUMMARY Sales Price Range of Values: Price / SF Range Of Values: $ - $ $ - $ Insert Market Approach Summary

13. FOR SALE PROPERTY SUMMARY Insert Market Area Here Insert Size Parameters Here Delete this Box & Insert MS Excel Summary Table Here The information contained herein has been obtained from sources deemed reliable. While we have no reason to doubt the accuracy of the information, we do not guarantee it. Do not rely on any information contained herein without verifying it yourself.

14. SOLD PROPERTY SUMMARY Insert Market Area Here Insert Size Parameters Here Delete this Box & Insert MS Excel Summary Table Here The information contained herein has been obtained from sources deemed reliable. While we have no reason to doubt the accuracy of the information, we do not guarantee it. Do not rely on any information contained herein without verifying it yourself.

15. INCOME APPROACH SUMMARY Sale Price Range of Values: Price / SF Range Of Values: Capitalization Rate Ranges: $ - $ $ - $ % - % Insert Income Approach Summary Here

16. INVESTMENT ANALYSIS SUMMARY Delete this Box & Insert Investment Analysis Here The information contained herein has been obtained from sources deemed reliable. While we have no reason to doubt the accuracy of the information, we do not guarantee it. Do not rely on any information contained herein without verifying it yourself.

17. LEASED PROPERTY SUMMARY Insert Market Area Here Insert Size Parameters Here Delete this Box & Insert MS Excel Summary Table Here The information contained herein has been obtained from sources deemed reliable. While we have no reason to doubt the accuracy of the information, we do not guarantee it. Do not rely on any information contained herein without verifying it yourself.

18. FOR LEASEPROPERTY SUMMARY Insert Market Area Here Insert Size Parameters Here Delete this Box & Insert MS Excel Summary Table Here The information contained herein has been obtained from sources deemed reliable. While we have no reason to doubt the accuracy of the information, we do not guarantee it. Do not rely on any information contained herein without verifying it yourself.

19. COST APPROACH SUMMARY Sale Price Range of Values: Price / SF Range Of Values: $ - $ $ - $ Insert Cost Approach to Value Summary Here

20. COST APPROACHANALYSIS SUMMARY Delete this Box & Insert MS Excel Summary Table Here The information contained herein has been obtained from sources deemed reliable. While we have no reason to doubt the accuracy of the information, we do not guarantee it. Do not rely on any information contained herein without verifying it yourself.

21. MARKET OVERVIEW SECTION III www.daumcommercial.com

22. _____________________ COUNTY INDUSTRIAL MARKET _______ QUARTER 20_____ Delete this Box & Insert The Latest Market Report Here The information contained herein has been obtained from sources deemed reliable. While we have no reason to doubt the accuracy of the information, we do not guarantee it. Do not rely on any information contained herein without verifying it yourself.

23. _____________________ COUNTY INDUSTRIAL MARKET _______ QUARTER 20_____ Delete this Box & Insert The Latest Market Report Here The information contained herein has been obtained from sources deemed reliable. While we have no reason to doubt the accuracy of the information, we do not guarantee it. Do not rely on any information contained herein without verifying it yourself.

24. _____________________ COUNTY INDUSTRIAL MARKET _______ QUARTER 20_____ Delete this Box & Insert The Latest Market Report Here The information contained herein has been obtained from sources deemed reliable. While we have no reason to doubt the accuracy of the information, we do not guarantee it. Do not rely on any information contained herein without verifying it yourself.

25. _____________________ COUNTY INDUSTRIAL MARKET _______ QUARTER 20_____ Delete this Box & Insert The Latest Market Report Here The information contained herein has been obtained from sources deemed reliable. While we have no reason to doubt the accuracy of the information, we do not guarantee it. Do not rely on any information contained herein without verifying it yourself.

26. MARKETING PLAN SECTION IV www.daumcommercial.com

27. MARKETING PLAN • Upon the signing of the Exclusive Representation Agreement, DAUM will begin its marketing campaign to promote, advertise and expose your property to the largest amount of potential prospects. DAUM’s purpose and mission will be to complete the assignment in the shortest possible time to the most qualified prospect, while yielding the client the highest possible price or return. DAUM will use the following marketing campaign to complete the assignment. • Creation of Marketing Materials • Obtain and verify property details and specifications • Obtain a copy of any environmental reports (if necessary) • Digitally photograph the exterior and interior of the subject property • Design, print and create digital documents to be used for promotional mailers with sufficient information, photographs, maps, etc. to entice the prospect to contact DAUM for more information. Sample Brochure Sample Website Sample Postcard Sample HTML E-Mail Featured on DAUM Website Sample Property Sign Not all marketing methods will be used for each listing. Marketing will be done as deemed appropriate for each listing.

28. MARKETING PLAN • Submit and Distribute to Multiple Listing Services • Upon completion of creating the marketing materials, DAUM will then submit the subject property to the appropriate multiple listing services listed below (not all of these will be used for each listed property): • CoStarProperty • CostarProperty is the largest national database for tracking and promoting available commercial real estate properties. CoStar’s database has verified information on more than 24 billion square feet of office, industrial and retail buildings, as well as vacant land. • E-Multiple (AIR) • AIR’s e-Multiple database offers a comprehensive database which covers the greater Southern California market for office, industrial, vacant land and investments. Members of this association can submit and market your available property into this widely used broker-only listing service that exposes your property to more than 2,000 agents. • The Smith Guide • The Smith Guide offers a comprehensive database covering greater Southern California for office, industrial, retail, vacant land and investments. • ILS (Industrial Listing Service) • ILS offers a comprehensive database covering the Inland Empire and Orange County for available industrial and vacant land properties. • Loopnet.com • Loopnet.com is the largest national database for exposing and promoting available commercial real estate properties via the internet. Loopnet’s database has more than $100 billion worth of properties available for sale and more than 2.0 billion square feet of properties available for lease. • PropertyLine.com • PropertyLine.com is one of the largest national databases for exposing, marketing and promoting available commercial real estate properties via the internet. PropertyLine not only offers the exposure of the multiple listing services, it also incorporates many marketing tools to more effectively reach the target audience. ILS

29. MARKETING PLAN • Market & Expose the Property on the Internet • In addition the multiple listings services available online, your property will also be exposed and marketed on the internet in the following places: • www.DAUMCOMMERCIAL.com • DAUM can quickly add or update your property’s available status and information. A digital brochure of each property is created with the ability to add photographs, floor plans, site plans, location maps and general listing information, all in a searchable database to our visitors as well as link to each listing agent’s web page. • Site Signage • Order and install, if desired and approved by the owner, an appropriate sign announcing the availability of the property. • Direct Marketing • Local / Immediate Market Area: • Direct mail merge letter or mailer to local companies sorted by type of company, employee size and location. • Direct mail to personal and company client lists. • E-mail listing brochures and property information to brokers and prospects. • Regional: • Distribute property information through the use of regional business lists. • National: • Distribute property information through the use of national business lists.

30. MARKETING PLAN • Personal Marketing: • Personal Canvass: • Target and distribute a mailer and additional information to a list of target companies (see Target Market) with a personal telephone follow-up program to be implemented • Telephone follow-up on a selected basis to all direct mail recipients. • Newspaper / Magazine Advertising: • Use local newspapers and magazines, when appropriate. • Use online newspaper and magazine sites, when appropriate. • Use regional advertisements in other newspapers, magazine and online sources upon mutual agreement between broker and owner. • Public Agency Cooperation: • Ensure state and local government agencies are aware of the availability of the property. Re-submit information periodically. • Provide information to the local Chamber of Commerce. Re-submit information periodically. • Progress Reports and Prospect Registration: • Provide owner with monthly (or agreed upon time schedule) written summary of activities, including names, addresses and contact persons of prospects and prospect registrations from brokers. • Specific Marketing Approach • Identify Target Companies / Prospects: • Select target companies / prospects by Standard Industrial Classification (SIC Code)or other targeted methods. • Select target companies / prospects by size. • Select target companies / prospects by zip code or geographic areas. • Expand parameters as needed. • Contact Target Companies / Prospects: • Same or similar SIC Code as previous property user. • Similar employee size as previous property user. • Same or similar geographic area as property. • Expand parameters as needed.

31. TARGET MARKET • Industry #1 • Industry #2 • Industry #3 • Industry #4 • Industry #5 • Industry #6 • Industry #7 • Industry #8 • Industry #9 • Industry #10

32. PROJECT TIMELINE Escrow period may range from 30-120 days from the time the agreement is signed.

33. DISPOSITION PROCESS Understand the Client Manage the Real Estate Plan Technical Review of Property Implement the Marketing Plan Identify the Purchaser Prepare Market Valuation Negotiate the Sale Valuation Analysis Manage the Agreement Prepare the Marketing Plan

34. MARKETING TEAM & COMPANY PROFILE SECTION V www.daumcommercial.com

35. AGENT NAME TITLE Delete this Box & Paste Bio Photo Insert Bio Text Here Contact Information: Address Suite City, State, Zip P XXX-XXX-XXXX F XXX-XXX-XXXX First.Last@daumcommercial.com Selected Client List: XXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX

36. AGENT NAME TITLE Delete this Box & Paste Bio Photo Insert Bio Text Here Contact Information: Address Suite City, State, Zip P XXX-XXX-XXXX F XXX-XXX-XXXX First.Last@daumcommercial.com Selected Client List: XXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX

38. COMPANY PROFILE SUMMARY Experienced Professionals EXPERIENCE MATTERS DAUM has more than 120 agents in nine (9) branch offices throughout Southern California and Phoenix, Arizona. Each agent at DAUM is equipped with state-of-the art technology and market research to assist their clients make more informed decisions concerning their real estate assets. Coupled with a wealth of experience, specialized disciplines, and a strong client service background, DAUM agents are willing and prepared to assist you with all your real estate needs. Strong Regional Company since 1904 REPUTATION MATTERS For more than a century, DAUM has the unmatched reputation as an ethical, energetic and creative problem solver. DAUM has helped thousands of local and national clients maximize their real estate values through site selections, acquisitions, dispositions, leasing, property management and consulting. DAUM understands its markets better than the competition and will take action more quickly than many larger national companies. National & International reach through Affiliations REACH MATTERS DAUM uses its affiliation with ONCOR International, SIOR, ICSC, CCIM, CIREI, AIR and other professional organizations to provide seamless professional services to clients wherever needed.

39. ORANGE COUNTY 4400 MacArthur Boulevard, Suite 950 Newport Beach, CA 92660 949-724-1900 VENTURA & SANTA BARBARA 751 Daily Drive, Suite 105 Camarillo, CA 93010 805-987-8866 INLAND EMPIRE 3595 E. Inland Empire Boulevard, Bldg. 5 Ontario, CA 91764 909-980-1234 PHOENIX ARIZONA 1702 E. Highland Avenue, Suite 120 Phoenix, AZ 85016 602-957-7300 LOS ANGELES / CORPORATE 801 S. Figueroa Street, Suite 600 Los Angeles, CA 90017 213-626-9101 888-659-DAUM www.daumcommercial.com SAN FERNANDO VALLEY 21860 Burbank Boulevard, Suite 175 Woodland Hills, CA 91367 818-887-3600 SANTA CLARITA VALLEY 28494 Westinghouse Place, Suite 203 Valencia, CA 91355 661-705-2299 SAN GABRIEL VALLEY 13191 Crossroads Pkwy. N, Suite 175 City of Industry, CA 91746 562-695-7244 SOUTH BAY 1025 W. 190th Street, Suite 420 Gardena, CA 90248 310-538-6700 For more information, visit our website: www.daumcommercial.com

40. ONCOR International is a premier global commercial real estate referral network. A subsidiary of Realogy Corporation, ONCOR is composed of more than 50 independent commercial real estate partner brokerages that employ more than 1,800 individual sales associates working from over 170 offices in 32 countries. In 2009 ONCOR International members were collectively responsible for approximately $13.2 billion in commercial real estate volume and over 11,800 commercial real estate transactions. ONCOR International network members are highly motivated, entrepreneurially minded commercial real estate professionals who are leaders in their respective markets. They are prepared to serve clients in the following markets, including: North America, Central America, South America, and Europe. WORLDWIDE HEADQUARTERS1 Campus DriveParsippany, NJ 07054USAPhone: +1 973.407.6363Fax: +1 973.407.4666 EMEA HEADQUARTERS25 Sackville StreetLondon, W1S 3HQUnited KingdomPhone: +44 (0) 20.7544.4290Fax: +44 (0) 20.7544.2222 • ONCOR PROFILE • Established in 1977 • Serving 220+ markets throughout North America, Europe, Asia, South Africa and Latin America • Partners Worldwide: 50+ • Offices: 172 • Total Employees: 4,458 • Total Sales Force: 1,783 • Average Annual Revenues: US $670 million • Average Age of Companies: 38 years • Property Management: 362+ million sq. ft. SELECTED CLIENTS ABN AMRO Bank | American Hotel Register | American Express | AT&T Broadband | Bank of America | Baxter | Bell Microproducts Blue Cross & Blue Shield | Borders Books & Music | British Airways | Burlington Resources | Camp Dresser & McKee, Inc. | Citibank Coca-Cola | Computer Associates International | Countrywide Home Loans | Dean Foods | Dow Chemical | Dresdner Bank | Easy Rent-a-car Edward Jones Co. | Emerson Electric | Energizer | First Franklin Financial | Firstworld Communications | Ford Motor Company | GAP GE Capital | General Mills | Goldman Sachs & Co. | Goodyear Tire & Rubber | Goya Foods | Hermés | HILB, Rogal & Hamilton IDEC Pharmaceuticals | Invensys | Jabil Circuit | L’Oreal | Mastercard International | McDonald’s | Merrill Lynch | Nike | NEC Technologies Nestle | NOKIA | Nortel | Per-Se Technologies | Pitney Bowes | Phillip Morris | Procter & Gamble | Prudential Corporation | Ralston Purina Ropes & Gray | Sprint PCS | State Farm Insurance | Stone Webster | Target | Terayon Communications | TMP Worldwide | Toro Company Unisys | UPS | U.S. Dept. of Agriculture | Walgreen’s | Warner Bros. | Wells Fargo Bank For more information, please visit the ONCOR International Website: www.oncorintl.com

41. DAUM AFFILIATIONS DAUM uses its affiliation with ONCOR International, SIOR, CCIM, CIREI, ICSC, AIR and other professional organizations to provide seamless professional services to clients wherever needed. O N C O R I N T E R N A T I O N A L ONCOR International is a premier global commercial real estate referral network. A subsidiary of Realogy Corporation, ONCOR is composed of more than 50 independent commercial real estate partner brokerages that employ more than 1,800 individual sales associates working from over 170 offices in 32 countries. In 2009 ONCOR International members were collectively responsible for approximately $13.2 billion in commercial real estate volume and over 11,800 commercial real estate transactions. ONCOR specialists provide commercial corporate services for clients through affiliated offices covering over 220 global markets on six continents. Core competencies of ONCOR members include: office, industrial and retail leasing, investment sales for both institutional and private investors, asset and property management, corporate services, tenant representation, financial services, facilities management and development services. The Society of Industrial and Office Realtors (SIOR) is an international organization of experienced, credentialed commercial real estate professionals who specialize in industrial and office real estate. There are approximately 1,800 SIOR members worldwide. DAUM has SIOR members in most of its offices and can provide its clients with the many benefits that SIOR membership affords them. An organization of commercial real estate professionals specializing in retail real estate. Members include retailers, developers and owners of retail properties, brokers, property managers, etc. The American Industrial Real Estate Association has over 1200 members in approximately 250 commercial real estate firms in Southern California. Since 1960, AIR has provided the benefits of a multiple listing service strictly for industrial and office properties, standard lease forms and purchase offer forms. DAUM is an active participant in AIR. As economies throughout the world are adjusting to the formation of new markets and increased free trade opportunities, the role of the commercial real estate professional is more important than ever. A Certified Commercial Investment Member (CCIM) is a recognized professional in commercial real estate brokerage, leasing, asset management, valuation, and investment analysis. As an experienced expert, a CCIM is an invaluable resource to the commercial real estate owner, investor, and user.

42. PROPERTY MANAGEMENT INTRODUCTION • Property Management Services • Commercial property management services include revenue management and enhancement, building maintenance and engineering, financial management and planning, lease administration, leasing support, and tenant relations. • Corporate facility services are designed to manage facilities as a “means of production” to support core business functions through contract administration, capital planning and operational budgeting, emergency and disaster planning, furniture and equipment purchase and inventory, energy/utility efficiency studies, building engineering and maintenance, and code compliance management. • Accounting Services • Portfolio and asset management services combine essential property and facility management functions with strategic real estate investment capabilities to integrate property operations, leasing strategies, and marketing management; financing; hold/sell analysis; financial reporting; capital planning; and capital improvements. • Construction Services • Business moving/construction management includes project management, tenant and capital improvement, construction, technology installation, furniture installation, and move coordination • Development services include land due diligence and acquisition, entitlement, design, cost feasibility, financing, and construction administration. Specializing in office buildings, medical and research projects, shopping centers, and industrial parks, DAUM Property Management Services creates value in real estate for institutional and private investors, corporations, and nonprofit foundations through a broad spectrum of property management capabilities, resources, and expertise. In every assignment, DAUM designs and delivers a scope of services designed to meet the client’s unique investment or corporate objective.

43. PROPERTY MANAGEMENT SERVICES • Property Oversight • Conduct a thorough review of each property’s operating systems and procedures. • Implement a preventive maintenance program of the mechanical equipment and systems. • Inspect and inventory all existing systems, tools and supplies to assess their useful condition and immediate purchase needs. • Review and maintain as-built drawings and specifications on file for completeness. • Review energy conservation programs and implement new procedures, as necessary. • Review security and emergency procedures in place and modify, as necessary. • Implement tenant service hot-line and establish standards for response timing. • Negotiate vendor service contracts to ensure the most competitive pricing possible. • Ensure that each property achieves the highest possible “curb appeal.” • Implement monthly property inspection procedures and incident reporting system. • Insurance Tracking • Evaluate, confirm, and document tenant and vendor insurance coverage • Automatic tracking of insurance certificates and endorsements to insure that tenants and vendors have the appropriate insurance to cover claims for which they are responsible • Insurance tracking practices also cover owner insurance documentation, property insurance investigations and claims procedures, liability inspection practices, and project safety checklists. • Help Desk Services • Monitor tenant service calls to ensure tenant satisfaction and retention, which will ultimately, increase property values. • Insure timely response to tenant calls and work order requests and track them from start to final posting • Make sure the property team via the help desk is always on-call and available to respond to service requests and emergencies. • Track and trend service calls and compare them with portfolio database to gauge the performance of property team and identify opportunities for operational process improvements. • Tenant Relations • Meet with key tenant contacts on a regular basis, review immediate tenant concerns, and identify the service factors that drive tenant satisfaction. • Continually solicit tenant feedback in order to build and maintain positive tenant relationships • Evaluate past operating practices in terms of impact on service and satisfaction levels. • Examine existing tenant services and work order processes and develop enhancements and/or modifications as necessary • Review existing Emergency Procedures Manual and advise tenants of any changes in information. If needed, distribute a revised Manual. • Consider with ownership, the implementation of special services such as tenant appreciation programs and tenant satisfaction surveys. • Vendor Management & Contract Administration • Grade and monitor suppliers of goods and services in the areas of commitment to quality service, price/value, responsiveness, and ability to anticipate needs. • Review existing service contracts; examine scope of services, specifications and costs. • Evaluate quality and performance of products and services; identify contracts to re-bid and timing of the re-bid process. • Review opportunities to establish incentive based contracts which reward superior performance and tenant satisfaction. • Prepare RFP packages, competitive bid and award contract services (including analysis, review, and negotiation). • Review contract documentation and set up standard contact files as well as prepare comprehensive contract abstracts summarizing each service agreement. • Review current vendor billing process procedures and service provider insurance. • Management Services Reporting • Prepare a Management Services Report immediately following the completion of each month’s activity for review by ownership. • Include in Report a review of significant operating activity a teach property during the reporting period with a breakdown of the work order requests. • The monthly documentation serves as a “report card” of the operations efforts at each property, and repeatedly focuses on the property team’s efforts and progress toward ownership’s overall goals during the year.

44. PROPERTY MANAGEMENT ACCOUNTING SERVICES • Financial Accounting Services • Review tenant leases to verify accuracy in tenant billings. • Set up financial accounting systems (utilizing the Skyline financial software reporting package) for each project with respect to such items as: lease abstracts, lease options and other critical dates, tenant invoicing, and accounts payables. • Review current parking situation and associated billings to ensure that the billings are correct. • Set up each project’s current approved budget in the property accounting system. • Review existing receivable and payable balances. Identify any problems and resolve them. • Oversee the payment of property taxes (and mortgage payments, if applicable) and the filing of necessary paperwork. • Establish and maintain property operating bank accounts, collect rents and pay property operating expenses. • Ensure that strong procedures are in place and followed for the prompt collection of all revenue due owner, thus resulting minimal receivables balance and the maximization of each project’s income. • Prepare and deliver monthly rent statements to tenants. • Prepare and review monthly financial statements with owner representatives. Discuss and implement any agreed upon changes. • Budget Preparation • Develop detailed annual operating expense and capital expense budgets in standardized formats. • Set up budgets in the accounting system and include detailed and time-phased documentation of the expected revenue and expenses as well as appropriate explanation of all relevant assumptions. • Developed in this manner, the budget becomes a working document for the property manager and owner alike, and real world variances can be translated into specific management actions to insure achievement of the bottom line projections. • Escalation Reviews / Operating Expense Billing • Prepare CAM and operating expense reconciliations and escalations, operating expense billings and adjustments, and ensure OE collections. • Examine tenant operating cost escalations that have been billed; assessing whether or not escalation calculations have been performed in accordance with lease provisions and industry standards. • Scrutinize costs to ensure that non-escalating costs have been correctly omitted. • Financial Reporting • Prepare a Comprehensive Financial Management Report immediately following the completion of each month’s financial activity for review by ownership. • Include in the Report a review of the overall financial activities (revenues, expenses, capital improvements, etc) at the property during the reporting period. • Include in the Report additional documentation such as budget comparison reports (monthly and year–to-date) monthly general ledger, rent roll, lease expiration report, vacancy report, delinquency aging report, and activity reconciliation report.

45. PROPERTY MANAGEMENT CONSTRUCTION SERVICE • Construction Supervision • Construction supervision services encompass tenant improvement, renovation and retrofit projects. • Construction supervision services include scope of work development, selection of qualified design consultants, budget preparation, solicitation and selection of contractors, competitive bidding (analysis, review, negotiation, and contract reward) space planning assessment, schedule adherence, contract administration, payment management, and conflict resolution. • Insure client’s best interests are always being served with onsite inspections and constant monitoring of the construction process. • Formal control systems provide realistic and attainable budgets, minimize disruptions to the existing tenants and building operations, and include proper punch-list follow-up procedures and formal close-out measures.

46. DAUM AND LOS ANGELES:A PARTNERSHIP FOR SUCCESS In the early 1900’s, the City of Los Angeles was an emerging metropolis, teeming with entrepreneurial spirit. It was here where William H. Daum first came to the city as an agent for the Santa Fe Railway. Recognizing that the best way to build commerce was to attract new businesses, Daum founded Los Angeles’ first commercial real estate brokerage firm in 1904, a venture that was instrumental in bringing more than 6,500 companies into the fledgling Los Angeles market and helping the city grow into one of the most commercially and culturally relevant marketplaces in the world. More than a century later, as Los Angeles’ strategic position in the global economy continues to place greater demands on its real estate, DAUM’s vision is more alive than ever. Remaining true to its core values, DAUM continues to serve as a visionary partner for its real estate clients, helping them to better position their businesses and take full advantage of developing local, regional and global opportunities. DAUM continues its legacy of providing best-of-class services in office, industrial, corporate, retail and investment properties. Founder W.H. Daum, Sr., son Richard H. Daum, and son W.H. Daum, Jr.; circa 1965 DAUMs Corporate HQ Today Perhaps the most important catalyst to Los Angeles’ commercial success has been its ability to reinvent itself. The city’s first wave of industrial development occurred within a five-mile radius of downtown, and was limited to basic industries, such as chemicals, tires, oil and steel. Today, the LA industrial landscape spans virtually every industry and has moved to new markets, far from downtown. DAUM has responded by working to understand the individual needs of each client and providing customized solutions to maximize the utility and value of their real estate wherever it might be. From its days as a small outpost in the far western corner of the United States to its current status as a thriving metropolis that sets the tone for global commerce, a constant remains in Los Angeles; DAUM. From the first freight company that William H. Daum convinced to move west to the many thousands of corporations represented by DAUM since, Los Angeles and DAUM have an unparalleled partnership based upon vision, growth, and ultimately success. Pico House, downtown Los Angeles in the early 1880s Pico House, downtown Los Angeles (2005) One hallmark of the Los Angeles marketplace is its ability to grow on a regional scale. Beginning as a concentrated, downtown center, Los Angeles County now spans more than 4,061 square miles and 88 incorporated cities. With eight offices throughout southern California and one in Phoenix, Arizona, DAUM is ideally positioned to address the commercial real estate needs of the greater Los Angeles basin and beyond. Los Angeles is also one of the world’s most international cities, encompassing a vibrant potpourri of cultures from all over the world. The international reach of the city coincides with DAUM’s global real estate capabilities, with its affiliations and worldwide partners. While DAUM remains a local leader, it has expanded its services to encompass key markets throughout the world.

47. CLIENT SATISFACTION, REPEAT BUSINESS:A DAUM HALLMARK Such strong support for DAUM has its roots in the early part of the 20th-century when Daum established itself as a pacesetter in the dynamic growth of the West. During this time the unrivaled vision of DAUM attracted such familiar names as Goodyear Tire & Rubber Company to build major plants in the region. “I’d like to express my appreciation for your (DAUM) invaluable contribution to the Technicolor transaction. As you know, this 300,000 square foot lease represents the largest industrial warehouse lease in Ventura County in over five years. However, as significant as that fact is, it does not begin to convey the complexity that characterized negotiations… and your professional conduct.” Raymond W. Love Vice President and Investment Manager Wells Fargo Real Estate Equity Fund “… I would like to bring the services of DAUM’s office division to your attention. Your knowledge of the Orange County office market, ability to negotiate to the specific needs of my company and coordinate a smooth conclusion to our lease was key to this assignment’s success and assisted my department significantly .” Patrick J. Branin Director, Wyeth-Ayerst Laboratories, a Division of American Home Products “It has been a pleasure to have had both the working relationship and the technical real estate support of your DAUM real estate office as I pursued the possibilities for expansion and relocation for Rockwell Network Systems. I am most appreciative of your prompt response to our special needs.” Thomas W. Vestal Manager, Facilities, Rockwell Telecommunications • Providing Clients with Profitable Solutions • Ongoing Concern for Client • Unrivaled Local and Regional Market Expertise • Advanced Technical Support • Prompt Response to Special Needs • Client Peace of Mind • Full Range of Services • Client Satisfaction • Understanding Client Needs Since that time, numerous leading corporations, representing a broad range of business activities, have followed that lead in engaging DAUM’s talents. Rubbermaid, Northrop, Sanyo, Medtronic, Chevron, Michelin, AmerisourceBergen, Adidas America, Master Halco, Honeywell Aerospace, Nikota USA, Tatung, Reitek and the Automobile Club of Southern California are just a few of these outstanding names. Clearly, DAUM has rightly earned this enviable standing within the corporate and real estate communities. We have listed a few of the numerous accolades afforded DAUM by its satisfied clients. DAUM views such expressions as its most important qualification for establishing a similar association with your company. DAUM continues to attract clients not only because of its full range of real estate service, but enhances this appeal on the strength of its global outreach through strategic affiliations, complemented by its unrivaled local and regional market expertise.

48. A PIONEERING GROWTH Early on, the leadership of DAUM recognized the critical importance of communication and personal service in satisfying clients’ needs. This expressed itself in the excellence of the full range of contemporary real estate services – from industrial and office brokerage to property management and investments – provided by DAUM in market areas within which the company achieved unrivaled expertise. • 100+ Year Heritage • Early Vision • Leadership Position • Full Range of Services • Cutting Edge Technology • Personal Service • Commitment to Client Needs “Just as in the days of its visionary founder, Daum continues to provide its clients with the highest level of professional service - today and tomorrow.” While others failed to envision the future with similar clarity, this foresight enabled DAUM in its formative years, to attract such household names as Goodyear Tire & Rubber Company to build major plants in the area. A series of similar DAUM-driven transactions followed with equally impressive names like Firestone Tire. Many companies saw the promise of the West, after countless cross-country marketing missions by DAUM officials. The priority DAUM placed on communication and personal service also revealed itself in corporate growth in market coverage as DAUM opened new offices in a timely manner in emerging markets, while thoughtfully expanding services to meet the changing needs of its clients. With the new Century underway, DAUM continues to be committed to maintaining its sensitivity to personal service and communication. Yet, DAUM is not resting on its laurels. The company is dedicated to offering the benefits of cutting edge technology regarding how market data is gathered and disseminated, in the interest of making certain DAUM’s clients receive the best information at the earliest moment in order to assure sound decision-making. Accordingly, DAUM employs the latest in communications technology, both for generating current market data for clients, while achieving state-of-the-art internal communication via a modern computer network unifying its offices throughout Southern California and Arizona. Just as in the days of its visionary founder, DAUM continues to provide its clients with the highest level of professional service - today and tomorrow.

49. RESPECTED CLIENTS, REPEATBUSINESS, GLOBAL OUTREACH A hallmark of a leading commercial real estate company is, in fact, the company it keeps. Repeat business with a diversity of satisfied corporate clients over a broad geographic landscape enhances this reputation with the values of respect and trust. DAUM has earned such a reputation, one time-tested and growing. Since 1904, DAUM has assisted a “who’s who” of household names and leaders of Corporate America in satisfying their real estate needs. A partial list of DAUM’s valued clients follow: Ace Hardware Corporation Adidas USA AEGON USA Realty Allied Chemical Corporation Allis-Chalmers Corporation Allstate Imaging Supply AMB American Cyanamid Company American Electronics Association American Honda Motor Company American Hospital Supply Corporation American Isuzu Motor Company American Savings Bank AmerisourceBergen Amoco Chemicals Corporation Anheuser-Busch, Inc. Armco Steel Armor All Ashland Oil Atlas Van Lines Automobile Club of So. California Avon Products Baker Hughes, Inc. Bank of America, N.T. & S.A. Bank of California Bank of the West Beal Bank Beatrice Foods Betchel Corporation Bekins Bell & Howell Company Birtcher Pacific BMW of North America Boeing Brinker International Brinks Armored Car Services Brinks, Inc. Burger King Burroughs Corporation C & R Clothiers Cabot, Cabot & Forbes Cabot Partners Carls Jr. Catalina Furniture Catellus Development Corporation Certified Grocers Company Chesapeake Consumer Products Chevron Petroleum Chief Auto Parts Chrysler Credit Corporation Citibank of Arizona City of Los Angeles City of Moreno Valley City National Bank Classic Properties Combustion Engineering Conair Corporation Conoco Oil Company Consolidated Foods Corporation Consolidated Freightways, Inc. Container Corporation of America Cort Furniture County of Riverside County of San Bernardino Crown Zellerbach Corporation C.S. America, Inc. Digital Equipment Dole Food Corporation Dominos Pizza Dow Chemical Dresser Industries Duckett Wilson E.F. Data/California Microwave E.I. DupontDeNemours & Company E.R. Squibb & Sons Eastman Kodak, Inc. ELS Brake Parts Emerson Electric Company Equitable Life Insurance Equitable Real Estate Services Evergreen International Fairchild Falcon Products, Inc. Farmer Brothers Coffee Fedco, Inc. F.D.I.C. Federal Express Federal Mogul Firestone Flying Tigers Frito-Lay, Inc. Fujita Property Management Gates Rubber Company General American Life Insurance Co. General Dynamics General Electric Company General Foods Corporation General Motors Corporation Georgia-Pacific, Inc. Global Van Lines Goodwill Industries Goodyear Tire & Rubber Company Great Western Bank GTE of California H & R Block Hallmark Cards, Inc. Harman International Harte-Hanks Communications Hertz Hewson Development Corporation Hirsch International Corporation Honeywell Aerospace Host International Hubbell Industries, Inc. Hughes Aircraft Hughes Electronics Hughes Tool Company Hunt-Wesson Foods, Inc. IBM Corporation Improv Comedy Clubs & Restaurants Intec Corporation Intel Corporation International Harvester Corporation International Paper International Tel & Tel Corporation ITT Financial ITT Industries J.P. Stevens, Inc. JC Penney Company, Inc. K.F.C. Corporation K-Mart Corporation Kaiser Permanente Kelly Services Kern Foods, Inc. Kidde Kilroy Realty Corporation Kiva Container La Jolla Bank & Trust Company Leach Corporation Little Caesar’s Pizza Little Tykes/Rubbermaid, Inc. Lockheed Lusk Malbert Mitchell Grinding Master Halco McDonald’s Medtronic Meyer Properties Michelin Micropolis Corporation Minolta Business Equipment Mitsui Fudosan Montgomery Ward & Company Motorola, Inc. Nalco Chemical, Inc. National Bank of So. California National Car Rental National Pacific Mortgage Company Nexxus, Inc. Nissan Carbide Norelco Industries, Inc. Norris Industries, Inc. Northrop Corporation Northrop Grumman Norwest Mortgage Corporation Ogden Entertainment Services Oltmans Construction Company Omni Bank Orange National Bank Orgill Owens Corning P.D.A. Pacific Gulf Properties, Inc. Pacific Mutual Life Insurance Pacific Telephone & Telegraph Packard-Bell Electronics Paramount Pictures Parker-Hannifin Corporation Payless Shoes Payless/Thrifty Drug Penske Corporation Pep Boys Stores Pepperdine University Phelps Dodge Corporation Pier 1 Imports Pilkington Aerospace Playtex International Potlatch Corporation PPG Industries Prentiss Properties Presson Advisory L.L.C. Price/Costco Price Investments Price REIT Principal Financial Group Prudential Insurance Company Purex Corporation, Ltd. RGR Development Corporation Radio Corporation of America Ralphs Grocery Company Raytheon Corporation Reitek Revlon/MacAndrews & Forbes Rockwell International Roger Dunn Golf Rubbermaid Corporation Ryder Trucks S.S. Kresge Company Safeway Stores, Inc. Sammis Company Santa Fe Pacific Realty Corporation Sanwa Bank of California Sanyon Fisher (USA) Corporation Scott Paper Company Scotts Lawn Company Sears, Roebuck & Company Smart & Final Southern Pacific Trans. Company Southwest Forest Industries Sport Chalet Standard Brand Paint Company Stater Brothers Markets Stroud’s Linens Subway Sandwiches Sumitomo Marine Management (USA) Sunstrand Data Control Surf Management, Inc. Taco Bell Tandy Corporation Tatung Teledyne Telex Texaco Textron, Inc. The Boys Market, Inc. The Carlson Company The Clorox Company The Greyhound Corporation The Hewson Corporation The Koll Company The Limited The RREEF Funds The Sony Corporation of America The Vollrath Company, Inc. 3M Company Tillotson Corporation Times Mirror Tinsley Laboratories Topdanmark Bank, N.A. Toys `R’ Us Trammell Crow Company Trus Joint MacMillan TRW, Inc. Tutor/Saliba U.S. Bank Corporation Union Bank Union Carbide Unisys Corporation United Artists Theatre Circuit United Companies United Parcel Service United States Gypsum Company United States Steel Corporation United Technologies Packard Uno-Cal of California Valley National Bank of Arizona Value Property Trust W.J. Schaefer, Inc. Walker Manufacturing- A Division of Tenneco Automotive Inc. Watt Industries Weingard Foundation Wells Fargo Bank Westco Products Western Digital Western Electric Company Westinghouse Electric Corporation Weyerhauser, Inc. Xerox Corporation YKK (U.S.A.) Inc.

50. LOS ANGELES, CALIFORNIA 801 S. Figueroa Street | Suite 600 Los Angeles, CA 90017 213.626.9101 LOS ANGELES NORTH, CALIFORNIA 21820 Burbank Boulevard | Suite 270 Woodland Hills, CA 91367 818.887.3600 SANTA CLARITA VALLEY, CALIFORNIA 28494 Westinghouse Place | Suite 312 Valencia, CA 91355 661-705-2299 SAN GABRIEL VALLEY, CALIFORNIA 13191 Crossroads Pkwy. N | Suite 175 City of Industry, CA 91746 562.695.7244 SOUTH BAY, CALIFORNIA 1025 West 190th Street | Suite 420 Gardena, CA 90248 310.538.6700 ORANGE COUNTY, CALIFORNIA 4400 MacArthur Boulevard | Suite 950 Newport Beach, CA92660 949.724.1900 VENTURA & SANTA BARBARA, CALIFORNIA 751 Daily Drive | Suite 105 Camarillo, CA 93010 805.987.8866 INLAND EMPIRE, CALIFORNIA 3595 E. Inland Empire Blvd. | Bldg. 5 Ontario, CA 91764 909.980.1234 PHOENIX ARIZONA 1702 E. Highland Avenue | Suite 120 Phoenix, AZ 85016 602.957.7300 O N C O R I N T E R N A T I O N A L www.daumcommercial.com