MEMBERSHIP INTERESTS PURCHASE AGREEMENT

LLC Membership Agreement

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MERCANTILE BANKSHARES CORPORATION | HARBOR GROUP INTERNATIONAL, L.L.C.,

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Title: MEMBERSHIP INTERESTS PURCHASE AGREEMENT
Governing Law: Maryland Date: 3/15/2005
Industry: BANKRG Law Firm: Gallagher Evelius & Jones LLP;Whiteford, Taylor & Preston LLP

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EXHIBIT 10

EXHIBIT 10.QQ

EXECUTION VERSION

MEMBERSHIP INTERESTS PURCHASE AGREEMENT

(MBC Realty, LLC)

MERCANTILE BANKSHARES CORPORATION, Seller

and

HARBOR GROUP INTERNATIONAL, L.L.C., Buyer

Property:

Two Hopkins Plaza

Baltimore, Maryland

TABLE OF CONTENTS

1.	DEFINITIONS

	1.1	Definitions
	1.2	Terms Generally

2.	membership interests; PROPERTY

3.	PURCHASE PRICE

	3.1	Purchase Price
	3.2	Failure to Pay Deposit

4.	DUE DILIGENCE

	4.1	Seller Deliverables
	4.2	Independent Investigation
	4.3	Termination During Due Diligence Period
	4.4	Buyer’s Knowledge
	4.5	AS-IS SALE
	4.6	Service Contracts to be Assumed
	4.7	No Obligation to Repair or to Comply
	4.8	Buyer’s Entry and Indemnity; Limits on Government Contact
	4.9	Release

5.	BUYER’S CONDITIONS PRECEDENT

	5.1	Conditions to Buyer’s Obligation to Purchase
		5.1.1	Seller’s Representations and Warranties
		5.1.2	Seller’s Performance
		5.1.3	Condition of Title
		5.1.4	Estoppel Certificates
		5.1.5	Income and Expenses
		5.1.6	Mercantile Lease
		5.1.7	Disposition of Other Properties
	5.2	Failure of Conditions

6.	SELLER’S CONDITIONS PRECEDENT

	6.1	Conditions to Seller’s Obligations to Sell
		6.1.1	Purchase Price
		6.1.2	Buyer’s Representations and Warranties
		6.1.3	Buyer’s Performance

7.	REPRESENTATIONS AND WARRANTIES

	7.1	Representations and Warranties of Seller
	7.2	Representations and Warranties of Buyer

8.	TITLE and survey

	8.1	Title
	8.2	Survey

9.	PRE-CLOSING OPERATIONS

	9.1	Interim Operation of the Property
	9.2	Lease Enforcement
	9.3	Lease Termination Prior to Closing
	9.4	Risk of Loss and Insurance Proceeds
	9.5	Notifications

10.	CLOSING

	10.1	Escrow Instructions
	10.2	Closing Date
	10.3	Location
	10.4	Closing Documents
	10.5	Additional Seller Deliveries
	10.6	Buyer Closing Deliveries
	10.7	Closing Instructions

11.	PRORATIONS; EXPENSES

	11.1	Rents
	11.2	Receivables and Collections
	11.3	Collection Efforts
	11.4	Security Deposits
	11.5	Adjustments to Prorations
	11.6	INTENTIONALLY OMITTED
	11.7	Post Closing Adjustments
	11.8	Proration Calculations
	11.9	Closing Expenses
	11.10	Survival
	11.11	Payment by Buyer

12.	DEFAULT

	12.1	Seller’s Default
	12.2	Buyer’s Default

13.	BROKERS
	&nbs