0001069546-03-000006 Sample Contracts

PRINCIPAL SHAREHOLDER AGREEMENT
Principal Shareholder Agreement • February 26th, 2003 • Merry Land Properties Inc • Real estate investment trusts • Georgia

This PRINCIPAL SHAREHOLDER AGREEMENT (this “Agreement”) dated as of February 19, 2003, is made by and among Cornerstone Realty Income Trust, Inc., a Virginia corporation (“Cornerstone”), and the undersigned shareholder (the “Shareholder”) of Merry Land Properties, Inc., a Georgia corporation (the “Company”).

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AGREEMENT AND PLAN OF MERGER BETWEEN CORNERSTONE REALTY INCOME TRUST, INC. CORNERSTONE MERGER SUB, INC. AND MERRY LAND PROPERTIES, INC. Dated as of February 19, 2003
Agreement and Plan of Merger • February 26th, 2003 • Merry Land Properties Inc • Real estate investment trusts • Virginia

Acquisition Proposal............................................................. 4.1(a) Affiliate........................................................................ 2.11 Agreement........................................................................ Preamble AICPA Statement.................................................................. 5.8(a) Articles of Merger............................................................... Recital B Base Amount...................................................................... 7.2 Bonus Payments................................................................... 5.9(b) Break-Up Expenses................................................................ 7.2 Break-Up Fee..................................................................... 7.2 Break-Up Fee Tax Opinion......................................................... 7.2 Business day..................................................................... 1.3 Certificate of Merger............

PURCHASE AND SALE AGREEMENT
Purchase and Sale Agreement • February 26th, 2003 • Merry Land Properties Inc • Real estate investment trusts • Georgia

PURCHASE AND SALE AGREEMENT(“Agreement”), dated as of February 19, 2003, by and between MERRY LAND PROPERTIES, INC., a Georgia corporation (“MLP”) and MERRY LAND & INVESTMENT COMPANY, LLC, a Georgia limited liability company (“MRY3”).

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