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which is hereto incorporated by referenced and attached as Exhibit B (“Developer’s Proposal”). The parties in conjunction with this Contract will enter into a Development Agreement of even date herewith for the construction of the Project (the “Development Agreement”). D. Following the acquisition of the Property by the Developer, the Developer intends to enter into an Amended and Restated Land Use Restriction Agreement (the “LURA”) between the Developer and the United States of America, Department of the Navy (the “Government”, setting forth certain regulatory and restrictive covenants governing the development, use, occupancy and transfer of the Property, to be recorded against the Property and certain other property owned by Developer in the Clerk’s Office of the Circuit Court of the City of Newport News, Virginia. NOW, THEREFORE, in consideration of the foregoing, the mutual covenants herein contained and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: ARTICLE IT DEFINITIONS OF TERMS When used in this Contract with an initial capital letter or letters, each of the following terms shall have the meaning given it below. (a) “Affiliate” of Developer means any legal entity, which controls, is controlled by, or is under common control with the Developer. (b) “Applicable Laws” has the meaning set forth in Section 4.5 below. (©) “Contract” means this Purchase and Sale Contract between the EDA and the Developer, as amended and or restated from time to time with the written agreement of both Parties. 4924-8886-8988, v. 12

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