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AMENDMENT
TO
ADDITIONAL CONTRIBUTION AGREEMENT
BETWEEN
PARAGON REAL ESTATE EQUITY AND INVESTMENT TRUST
AND
MEMBERS OF THE BOARD OF TRUSTEES
The parties,
Paragon Real Estate Equity and Investment Trust, a Maryland
business trust (formerly, Stonehaven Realty Trust, the
“Trust”); the members of the Board of Trustees (the
“Trustees”), and each of the individual Trustees (a
“Trustee”) presently Daryl J. Carter
(“Carter”), John J. Dee (“Dee”), Daniel G.
DeVos (“DeVos”), Paul T. Lambert
(“Lambert”), James C. Mastandrea
(“Mastandrea”), and Michael T. Oliver
(“Oliver”); and Paragon Real Estate Development, LLC
(“Paragon Development”); agree to amend the Additional
Contribution Agreement dated March 4 th ,
2003 (“Agreement”), made at Cleveland, Ohio, this
29 th
day of September, 2006
(“Amendment”), between and the Trust and the
Trustees.
WHEREAS:
The Trust is a public traded real estate company;
WHEREAS:
The Trust desires to substantially grow the asset base, net
operating income, funds from operation, net value, and the share
value of the Trust;
WHEREAS:
The Trust seeks to continue the leadership experience, talent, and
relationships of the Trustees;
WHEREAS:
The Trustees intend to find deals to contribute to the
Trust;
WHEREAS:
The Trust, the T
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