Exhibit (10)(ii) OPTION AGREEMENTOption Agreement • February 27th, 2003 • Investors Real Estate Trust • Real estate investment trusts
THIS AGREEMENT, made this 31st day of January, 2003, by and between THOMAS F. JAMES PROPERTIES, LLC , an Arkansas limited liability corporation (as General Partner of Thomas F James Realty Limited Partnership LLLP), 7707 T Street Little Rock, Arkansas 72227-4044(hereinafter called "Buyer"), and IRET PROPERTIES, a North Dakota Limited Partnership, 12 S. Main Street Minot, North Dakota 58702-1988(hereinafter called "Seller");
