0001104659-05-055624 Sample Contracts

AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF THE NEWKIRK MASTER LIMITED PARTNERSHIP a Delaware limited partnership dated as of November 7, 2005
Newkirk Realty Trust, Inc. • November 15th, 2005 • Real estate investment trusts • Delaware

THIS AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF The Newkirk Master Limited Partnership, made effective as of , 2005, is entered into by and among MLP GP LLC, a Delaware limited partnership (the “Withdrawing General Partner”), Newkirk Realty Trust, Inc., a Maryland corporation (defined herein as the “General Partner”), as the general partner of and a limited partner in the Partnership, and the General Partner, on behalf of and as attorney in fact for each of the persons and entities currently reflected on the books and records of the Partnership as a Limited Partner in the Partnership, together with any other Persons who become Partners in the Partnership as provided herein.

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REGISTRATION RIGHTS AGREEMENT
Registration Rights Agreement • November 15th, 2005 • Newkirk Realty Trust, Inc. • Real estate investment trusts • New York

This REGISTRATION RIGHTS AGREEMENT is made and entered into as of November 7, 2005, between Newkirk Realty Trust, Inc., a Maryland corporation (the “Company”), and Apollo Real Estate Investment Fund III L.P. (together with its successors and permitted assigns, “Shareholder”).

ADVISORY AGREEMENT BETWEEN NEWKIRK REALTY TRUST, INC., THE NEWKIRK MASTER LIMITED PARTNERSHIP AND NKT ADVISORS LLC Dated as of November 7, 2005
Advisory Agreement • November 15th, 2005 • Newkirk Realty Trust, Inc. • Real estate investment trusts • New York

THIS AGREEMENT, made as of November 7, 2005, among NEWKIRK REALTY TRUST, INC., a Maryland corporation (“Newkirk”), THE NEWKIRK MASTER LIMITED PARTNERSHIP, a Delaware limited partnership (the “Operating Partnership” and together with Newkirk, the “Company”), and NKT ADVISORS LLC (the “Advisor”).

EXCLUSIVITY SERVICES AGREEMENT
Exclusivity Services Agreement • November 15th, 2005 • Newkirk Realty Trust, Inc. • Real estate investment trusts • New York

EXCLUSIVITY SERVICES AGREEMENT, dated as of November 7, 2005 (this “Agreement”), between NEWKIRK REALTY TRUST, INC., a Maryland corporation (the “Company”) and MICHAEL L. ASHNER (“Ashner”), an individual.

Lock-Up Agreement — First Union November 7, 2005
Lock-Up Agreement • November 15th, 2005 • Newkirk Realty Trust, Inc. • Real estate investment trusts • New York

This letter agreement (this “Agreement”) relates to the proposed initial public offering (the “Offering”) by Newkirk Realty Trust, Inc., a Maryland corporation (the “Company”), of its common stock, $.01 par value (the “Stock”).

UNIT PURCHASE AGREEMENT by and between APOLLO REAL ESTATE INVESTMENT FUND III, L.P., and NEWKIRK REALTY TRUST, INC.
Unit Purchase Agreement • November 15th, 2005 • Newkirk Realty Trust, Inc. • Real estate investment trusts • New York

UNIT PURCHASE AGREEMENT, dated as of November 1, 2005 (this “Agreement”), by and between APOLLO REAL ESTATE INVESTMENT FUND III, L.P., a Delaware limited partnership (“Seller”), and NEWKIRK REALTY TRUST, INC., a Maryland Corporation (“Purchaser”).

REGISTRATION RIGHTS AGREEMENT
Registration Rights Agreement • November 15th, 2005 • Newkirk Realty Trust, Inc. • Real estate investment trusts • New York

THIS REGISTRATION RIGHTS AGREEMENT is made and entered into as of November 7, 2005, (this “Agreement”) between Newkirk Realty Trust, Inc., a Maryland corporation (the “Company”), and First Union Real Estate Equity and Mortgage Investments, an unincorporated association in the form of a business trust organized in Ohio (together with its successors and permitted assigns, the “Shareholder”).

UNIT PURCHASE AGREEMENT by and between WEM-BRYNMAWR ASSOCIATES LLC, and NEWKIRK REALTY TRUST, INC.
Unit Purchase Agreement • November 15th, 2005 • Newkirk Realty Trust, Inc. • Real estate investment trusts • New York

UNIT PURCHASE AGREEMENT, dated as of November 1, 2005 (this “Agreement”), by and between WEM-BRYNMAWR ASSOCIATES LLC, a Delaware limited liability company (“Seller”), and NEWKIRK REALTY TRUST, INC., a Maryland Corporation (“Purchaser”).

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