0001193125-06-181312 Sample Contracts

FIRST AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF WELLS TIMBER OPERATING PARTNERSHIP, L.P.
Wells Timber Real Estate Investment Trust, Inc. • August 29th, 2006 • Real estate investment trusts • Delaware

Wells Timber Operating Partnership, L.P. (the “Partnership”) was formed as a limited partnership under the laws of the State of Delaware, pursuant to a Certificate of Limited Partnership filed with the Office of the Secretary of State of the State of Delaware effective as of November 9, 2005. This First Amended and Restated Agreement of Limited Partnership is entered into this 24th day of August, 2006 between Wells Timber Real Estate Investment Trust, Inc., a Maryland corporation (the “General Partner”) and the Limited Partner(s) set forth on Exhibit A hereto (the “Agreement”) and supersedes and replaces the Agreement of Limited Partnership executed by the parties hereto as of November 9, 2005.

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AMENDED AND RESTATED ADVISORY AGREEMENT
Advisory Agreement • August 29th, 2006 • Wells Timber Real Estate Investment Trust, Inc. • Real estate investment trusts

THIS ADVISORY AGREEMENT (this “Agreement”), dated as of November 9, 2005, as amended and restated as of August 24, 2006, and effective as of the date the Registration Statement (as defined below) is declared effective by the Securities and Exchange Commission (the “Effective Date”), is by and among WELLS TIMBER REAL ESTATE INVESTMENT TRUST, INC., a Maryland corporation (the “Company”), WELLS TIMBER OPERATING PARTNERSHIP, L.P., a Delaware limited partnership (the “Partnership”), and WELLS CAPITAL, INC., a Georgia corporation (the “Advisor”).

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