Real Estate

Date:

10JUL03 (REVISED 31JUL03)

Our Reference No. 3097721

Internal Tracking Nos.    13027499

THIS CONFIRMATION SUPERSEDES AND REPLACES ANY AND ALL CONFIRMATIONS PREVIOUSLY SENT TO YOU IN RESPECT OF THIS TRANSACTION.

The purpose of this letter agreement is to confirm the terms and conditions of the Transaction entered into between Bedford Property Investors Inc. and Bank of America, N.A. (each a "party" and together "the parties") on the Trade Date specified below (the "Transaction").  This letter agreement constitutes a "Confirmation" as referred to in the ISDA Master Agreement specified in paragraph 1 below (the "Agreement").

The definitions and provisions contained in the 2000 ISDA Definitions, as published by the International Swaps and Derivatives Association, Inc., (the "Definitions") are incorporated into this Confirmation.  In the event of any inconsistency between the Definitions and this Confirmation, this Confirmation will govern.

                          CALL AND PUT OPTION AGREEMENT

         THIS CALL AND PUT OPTION AGREEMENT (the "Agreement") is entered into as
of the 28th day of April, 2003, by and among the parties listed on Schedule A
hereto (referred to collectively as the "Class A Partners" and individually, a
"Class A Partner"), and PREIT ASSOCIATES, L.P., a Delaware limited partnership
(the "UPREIT"), with joinder by PR New Castle LLC, a Pennsylvania limited
liability company (the "General Partner").

                                   BACKGROUND:
   . . .

PUT AGREEMENT

This PUT AGREEMENT (this "Agreement") is made as of this 4^th day of September, 2003 by and among INLAND REAL ESTATE CORPORATION, a Maryland corporation having a place of business at 2901 Butterfield Road, Oak Brook, Illinois 60523 (the "Corporation"), INLAND REAL ESTATE INVESTMENT CORPORATION, a Delaware corporation having a place of business at 2901 Butterfield Road, Oak Brook, Illinois 60523 ("Borrower")and PARTNERSHIP OWNERSHIP CORPORATION, an Illinois corporation having a place of business at 2901 Butterfield Road, Oak Brook, Illinois 60523 ("POC"; Borrower and POC are collectively referred to herein as the "Shareholder"), and FLEET NATIONAL BANK, a national banking association having a place of business at 100 Federal Street, Boston, Massachusetts 02110, in its capacity as administrative agent (the "Administrative Agent") for itself and such other financial institutions (collectively, the "Lenders") as may become parties to that certain Credit Agreement dated as of even date herewith, by and among Borrower, Administrative Agent and Lenders (the "Credit Agreement").

WHEREAS, the Shareholder collectively owns 6,166,358.1711 shares of the Corporation's Common Stock, $.01 par value per share (each, a "Share" and collectively, the "Shares");

WHEREAS, Borrower, Administrative Agent and Lenders are parties to the Credit Agreement;

WHEREAS, pursuant to the Credit Agreement, Borrower and POC have entered into that certain Ownership Interests Pledge and Security Agreement (the "IREC Pledge Agreement") dated as of even date herewith with Administrative Agent on behalf of Lenders whereby Borrower and POC have pledged to Administrative Agent on behalf of Lenders all of their right, title and interest in and to the Shares as security for the Borrower's Obligations under the Credit Agreement and the other Credit Documents;

WHEREAS, the Corporation has agreed to grant to Administrative Agent on behalf of Lenders an option to sell the Shares to the Corporation in the event that there is an Event of Default under the Credit Agreement upon the terms and conditions hereinafter set forth.

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

                             PUT AND CALL AGREEMENT

     THIS PUT AND CALL AGREEMENT (the "AGREEMENT") is made as of the 4th day of
October, 2001, by and between the entities and individuals set forth in EXHIBIT
A (the "GALARDI GROUP"), and the entities and individuals set forth on EXHIBIT B
hereto (the "ZEMEL GROUP").

                                    RECITALS:

     A. GALARDI GROUP wishes to grant a put to ZEMEL GROUP whereby GALARDI GROUP
would be obligated to purchase up to 400,000 shares of common stock, par value
$.01 per share, of American  . . .

CALL OPTION AGREEMENT

This CALL OPTION AGREEMENT (this �Agreement�), dated as of January 31, 2000, is by and among Bank of America, N.A., a national banking association with its principal offices in Charlotte, North Carolina (�Grantor� or �Bank�), Capital Lease Funding, L.P., a Delaware limited partnership with its principal offices in New York, New York (�Buyer�), and CLFC HPII Inc., a Delaware corporation (�CLFC�) that is one of the Buyer�s general partners.

RECITALS

A. The parties to this Agreement are also parties to that certain Purchase and Sale  . . .

Dated 21 February 2005

SHURGARD SELF STORAGE INC.

and

CRESCENT EURO SELF STORAGE INVESTMENTS S.? r.l.

PUT AND CALL OPTION AGREEMENT

with respect to

Additional Mezzanine Bonds

issued by First Shurgard Finance S.? r.l.

Rue Brederode 13

B - 1000 Brussels

Telephone (32-2) 501 94 11

Facsimile (32-2) 501 94 94

PUT AND CALL OPTION AGREEMENT

Shurgard Storage Centers Inc., a company organized and existing under the laws of Washington, . . .

         THIS PUT AGREEMENT ("Agreement") is dated as of September 24, 2004 (the
"Effective  Date"), by and between ROBERT PATTILLO  PROPERTIES,  INC., a Georgia
corporation  ("Contributor"),   and  AMB  PROPERTY,  L.P.,  a  Delaware  limited
partnership ("AMB").

                                    RECITALS

A.   Contributor and AMB Property II, L.P., a Delaware limited partnership ("AMB
     II"),  have  previously  entered into that certain  Contribution  Agreement
     dated as of  September  24, 2004 (the  "Contribution   . . .

                                  PUT AGREEMENT


         THIS PUT AGREEMENT ("Agreement") is dated as of September 24, 2004 (the
"Effective  Date"), by and between ROBERT PATTILLO  PROPERTIES,  INC., a Georgia
corporation  ("Contributor"),   and  AMB  PROPERTY,  L.P.,  a  Delaware  limited
partnership ("AMB").

                                    RECITALS

A.   Contributor and AMB Property II, L.P., a Delaware limited partnership ("AMB
     II"),  have  previously  entered into that certain  Contribution  Agreement
     dated as  . . .