Terms and Conditions

Introduction

By using the websites (collectively referred to as the “Site”) hosted by Elecor Properties (together with its related subsidiaries and affiliates, collectively, “Elecor”), you (“You” or “Your”, as applicable) agree to be bound by all of the terms and conditions outlined herein and agree to use the Site only as permitted by these Terms and Conditions (these “Terms and Conditions”) and not for any unlawful or inappropriate purpose. If You access or use the Site on behalf of a business or individual, You represent to Elecor that You have the authority to bind that business or individual and Your acceptance of these Terms and Conditions will be treated as acceptance by that business or individual. In that event, You and Your in these Terms and Conditions will refer to that business or individual. If You do not agree with these Terms and Conditions, You must immediately stop using the Site. Please refer to the Elecor Privacy Policy, located at www.elecorproperties.com/privacy-policy and incorporated herein by reference, for any terms which are listed in these Terms and Conditions and not defined herein.

Changes

Elecor reserves the right, at its sole discretion, to change, modify, add or remove any portion of these Terms and Conditions, in whole or in part, at any time by posting revised Terms and Conditions on the Site. Changes in these Terms and Conditions will be effective when such change is posted. Your use of the Site after any changes to these Terms and Conditions are posted on the Site will be considered acceptance of those changes. Elecor may terminate, change, suspend or discontinue any aspect of the Site, including the availability of any features of the Site, at any time. Elecor may also impose limits on certain features and Services or restrict Your access to parts or the entire Site without notice or liability. Elecor may terminate the authorization, rights and license given herein at any time, with or without notice to You.

Elecor User Registration(s)

Elecor may offer Services on the Site which may require You to become a registered user. In order to become a registered user, you must create a username and password, and provide Elecor with, for example, Your first name, last name, and/or email address, amongst other information.

Elecor or its contractors collect and store the email addresses and other information input into the Site, including but not limited to the email address You use to register for and/or access Services and the email addresses of any third parties designated by You to receive materials or information from the Site. Elecor may circulate notices, news alerts, materials, updates or any other information to those email addresses in the future. You hereby grant Elecor permission to distribute any notices, news alerts, materials, updates or any other information to those email addresses.

Security of Your Information

The Information You provide as part of becoming a registered user is protected by the username and password You create. You can help prevent the unauthorized disclosure of Information by choosing and protecting Your password appropriately. This includes not sharing Your password with others, and choosing a “strong” password that includes at least 8 characters comprising at least one capital letter, one number and one non-alphanumeric symbol. You can also help prevent unauthorized disclosure by preventing others from using Your computer and/or password, and by completely signing off and closing Your browser after accessing the Site. You should take all of these recommended steps.

Paramount Intellectual Property

All content included on the Site, including but not limited to text, graphics, logos, button icons, images, and software, is the property of Elecor and/or its content suppliers and is protected, or pending protection, as applicable, by United States and international copyright, trademark or other laws and regulations. You agree to access the materials posted on these pages manually, and not automatically, and solely for Your own personal use or in connection with any business relationship between You and Elecor and such materials may be downloaded to Your own hard disk or sent to a printer solely for that purpose. You agree not to copy, modify, broadcast, publish, retransmit, disseminate, commercially exploit, or distribute the contents of these pages without the express written permission of Elecor. Nothing contained herein confers, by implication, estoppel or otherwise, any license or right under any patent, trademark, copyright, or other proprietary right of Elecor. All rights are hereby reserved.

Use of Content: Limitations on Fund-specific Information

All information and content included on the Site is provided “as is” and without warranty of any kind, either expressed or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose, and non-infringement. Elecor strives to provide accurate and up-to-date material on the Site. However, Elecor makes no warranties or representations as to the accuracy or timeliness of the material provided through the Site. Elecor assumes no liability or responsibility for any errors or omissions on the Site.

You agree not to take any action, alone or with others, that would interfere with the operation or performance of the Site, to alter the Site in any way, or to impede others’ access to and freedom to enjoy and use the Site.

The Site is designed to describe the business and activities of Elecor, including the ownership and operation of properties, and property management both for owned properties and those managed for others, including but not limited to, Elecor’s sponsored real estate investment funds. While Elecor has various subsidiaries that are registered investment advisers (“RIAs”) or general partner entities involved in its funds business, Elecor Properties is not itself, and does not hold itself out as, a registered investment advisor. While some leasing and other information for assets owned in whole or in part (sometimes in joint venture with Elecor and third parties) by these investment funds may be provided on the Site, it is typically for the purpose of Elecor providing property management services and leasing support to these funds, not to provide a comprehensive description of the funds or their assets, performance, or history. The material on this Site is not, and is not intended to be, marketing material or advertising within the meaning of the Investment Advisers Act of 1940, or the rules and guidance of the SEC with respect to that Act. Be advised that the About tab, for example, is illustrative only. It does not include every asset ever acquired by Elecor or its funds, nor does it necessarily describe every investment fund sponsored by Elecor or other important business events such as asset sales and financings. Conversely, some activities described may relate to the funds business without specific attribution. For a list of office properties in New York and San Francisco the equity interests of which are owned wholly or partially by Elecor (the “Elecor properties”) as well as by its sponsored funds and other institutional investors, see the Portfolio tab. Assets not listed on this Site include debt assets held by Elecor’s sponsored debt funds (including for these purposes preferred equity interests), equity assets managed for others (but not owned by Elecor) in Washington, D.C., a residential fund asset in San Francisco, the 1600 Broadway retail condominium partially owned by Elecor, and the non-Elecor properties in New York, i.e., those owned by a sponsored fund and those for which property-management services only are provided to another institutional investor.

Other Websites

For your convenience, Elecor may provide links to websites belonging to other companies, including affiliates of Elecor. Those websites are not under the control of Elecor and Elecor does not monitor, make any representation with respect to or assume any liability with respect to any third-party websites, including, without limitation, for any products or services that are advertised or available for purchase through such third-party sites. The fact that Elecor has provided a link to such websites is not to be interpreted as an endorsement of their contents. You shall remain solely responsible for protecting Yourself from viruses and other destructive elements that may be present on those sites. Please refer to these third-party websites for their terms and conditions and other policies.

Securities Of Elecor Or Related To Its RIA’s Activities

Elecor (including its RIAs) is not providing investment advice through the Site, and the material on the Site should not be regarded as an offer to sell, or a solicitation of an offer to buy, any securities. You should not use any material available on the Site in assessing whether to buy or sell interests in the investment vehicles managed by Elecor or to assess such vehicles’ investment performance. Please be aware that the material on the Site reflects past performance and historical information only, and that such performance and information is not necessarily an indication of future performance. Any decision to purchase such interests or securities should only be made after reading the appropriate private placement agreement and investment agreements which You can obtain only after being appropriately screened by Elecor. Interests in Elecor-sponsored funds are not generally available to the public.

Forward-looking Statements

The Site may contain statements that constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not guarantees of performance. They represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Our future results, financial condition and business may differ materially from those expressed in these forward-looking statements. You can find many of these statements by looking for words such as “approximates,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “would,” “may” or other similar expressions. Many of the factors that will determine the outcome of these, and our other forward-looking statements are beyond our ability to control or predict.

Indemnity

Each user of the Site agrees to indemnify and hold harmless Elecor, its affiliates, and its and their respective shareholders, members, partners, managers, officers, trustees, directors, agents and representatives from and against all claims and expenses, including attorneys’ fees, arising out of the use of the Site and the content herein.

Limitation of Liability

NEITHER ELECOR, NOR ITS AFFILIATES OR ITS OR THEIR RESPECTIVE SHAREHOLDERS, MEMBERS, PARTNERS, MANAGERS, OFFICERS, TRUSTEES, DIRECTORS, MANAGED FUNDS, AGENTS OR REPRESENTATIVES SHALL BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES, INCLUDING BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, GOODWILL, USE, DATA OR OTHER INTANGIBLE LOSSES (EVEN IF ELECOR OR ANY OF THE FOREGOING PARTIES HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES), ARISING OUT OF OR RELATING TO: (I) YOUR USE OR INABILITY TO USE THE SITE; (II) UNAUTHORIZED ACCESS TO OR ALTERATION OF YOUR TRANSMISSIONS OR DATA; (III) STATEMENTS OR CONDUCT OF ANY THIRD PARTY ON THE SITE; OR (IV) ANY OTHER MATTER RELATING TO THE SITE OR ITS CONTENTS.

Miscellaneous

Acceptance. If You do not accept all of the terms and conditions set forth in these Terms and Conditions, you may not access or use the Site.

Assignment. You may not assign any of Your rights or obligations under these Terms and Conditions without Elecor’s express prior written consent. Elecor may assign its rights or assign or delegate any of its obligations under these Terms and Conditions without restriction.

Enforceability, Waiver and Severability. If any provision of these Terms and Conditions is found illegal or unenforceable, the Terms and Conditions will be enforced to the maximum extent permissible, and the legality and enforceability of the other provisions of these Terms and Conditions will not be affected. No delay or failure by Elecor to exercise or enforce any of its rights under these Terms and Conditions will act as a waiver of such rights. Each provision of these Terms and Conditions shall be severable from every other provision hereof for the purpose of determining the legal enforceability of any specific provision.

Entire Agreement. These Terms and Conditions, along with the Elecor Privacy Policy, constitute the entire understanding between Elecor and You with respect to the matters and transactions contemplated hereby and supersede all previous agreements between You and Elecor concerning the subject matter hereof. You acknowledge and agree that You have not relied on any statement, representation or promise of Elecor in agreeing to these Terms and Conditions and the Elecor Privacy Policy.

Export and International Use. The Site is controlled and offered by Elecor from its facilities or those of its contractors in the United States of America. Elecor makes no representations that the Elecor Site is appropriate or available for use in other locations. Those who access or use the Elecor Site from other jurisdictions do so at their own volition and are responsible for compliance with local law.

Good Faith. You agree to act in good faith with respect to each provision of these Terms and Conditions and any dispute that may arise related hereto or thereto.

Governing Law, Jurisdiction, Venue, and Time Limitation for Legal Actions. These Terms and Conditions shall be governed by and construed in accordance with the laws of the State of New York, without regard to or application of choice of law rules or principles. You expressly consent to the personal and exclusive jurisdiction and venue of the state and federal courts located in New York County of the State of New York for any claim or action arising out of or relating to these Terms and Conditions or Your use of the Site. You agree that: the Site shall be deemed to be solely based in the State of New York; the Site shall be deemed a passive website that does not give rise to personal jurisdiction over Elecor, either specific or general, in jurisdictions other than the State of New York; and ANY CAUSE OF ACTION ARISING OUT OF OR RELATED TO THE SITE MUST COMMENCE WITHIN ONE YEAR AFTER THE CAUSE OF ACTION ACCRUES WHICH WILL GENERALLY BE THE FIRST DATE THAT THE ACTIONABLE MATERIAL FIRST APPEARED ON THE SITE.

Headings. The section headings and subheadings contained in these Terms and Conditions are included for convenience only and shall not limit or otherwise affect the terms hereof.

Notices. Any notices to Elecor required to be given in writing under these Terms and Conditions shall be delivered either by hand, overnight delivery service or First-Class United States mail and shall be pre-paid and addressed as follows: General Counsel, Elecor Properties, 1633 Broadway, New York, NY 10019.

Survival. All terms of these Terms and Conditions which by their nature extend beyond the termination of the Terms and Conditions shall remain in effect for as long as necessary to permit their full discharge and apply to each party’s respective successors and permitted assigns.

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