0001193125-15-060770 Sample Contracts

Armada Hoffler Properties, Inc. – UNCONDITIONAL GUARANTY AGREEMENT (February 25th, 2015)

THIS GUARANTY AGREEMENT is executed as of February 20, 2015, by EACH OF THE SUBSIDIARIES OF ARMADA HOFFLER, L.P., a Virginia limited partnership (“Borrower”), LISTED ON SCHEDULE 1 ATTACHED HERETO or which become a party hereto pursuant to Section 20 below (each a “Guarantor” and collectively, “Guarantors”), for the benefit of the Credit Parties defined below.

Armada Hoffler Properties, Inc. – CREDIT AGREEMENT Dated as of February 20, 2015 among ARMADA HOFFLER, L.P., as Borrower, ARMADA HOFFLER PROPERTIES, INC., as Parent, BANK OF AMERICA, N.A., as Administrative Agent and L/C Issuer, and The Other Lenders Party Hereto REGIONS BANK, as Syndication Agent MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED and REGIONS CAPITAL MARKETS as Joint Lead Arrangers and Joint Bookrunners (February 25th, 2015)

This CREDIT AGREEMENT (“Agreement”) is entered into as of February 20, 2015, among ARMADA HOFFLER, L.P., a Virginia limited partnership (“Borrower”), ARMADA HOFFLER PROPERTIES, INC., a Maryland corporation (“Parent”), each lender from time to time party hereto (collectively, the “Lenders” and individually, a “Lender”), and BANK OF AMERICA, N.A., as Administrative Agent and L/C Issuer.