DUNDEE INTERNATIONAL REAL ESTATE INVESTMENT TRUST ...

Other than as stated above, Deutsche Post is generally responsible for the maintenance, repair, and
renewal at its own cost within the leased premises.
Ancillary Costs
Each Deutsche Post lease provides that Deutsche Post will proportionately bear ancillary costs; however,
property management costs cannot be charged to Deutsche Post. Ancillary costs include heating and air
conditioning costs, general electricity costs, costs in connection with the operation and management of
parking spaces, garages and underground parking garages, costs in connection with maintenance and
cleaning of outdoor areas, costs of street and building cleaning, and all costs in connection with the
observance of the duty to safeguard traffic (including snow and ice removal).
If additional costs are incurred as a result of Deutsche Post’s specific requirements, these additional costs
will be borne solely by Deutsche Post. To the extent possible, Deutsche Post will directly enter into
agreements with the local utility suppliers for its ancillary requirements.
Protection Against Competition
Under the Deutsche Post leases, the Landlord has agreed that it will not, without the consent of Deutsche
Post, lease space, set up automatic banking machines or provide advertisement opportunities to “material
competitors” of Deutsche Post, Postbank or their affiliates. Material competitors are defined under the
Deutsche Post leases as all mail delivery services, all courier, express and parcel services unless they are
exclusively working locally and are not part of a supra-regional network or group, all providers of
banking services and companies specifically listed in the Deutsche Post leases (as they may be updated
from time to time by Deutsche Post with effect from and after such updates).
Fixtures Leases
The separate leasing of fixtures to a major tenant of a building is common practice in Germany. We
acquired all of the fixtures located in the Initial Properties, and each of the leases of such fixtures with
Deutsche Post were assigned to us. Pursuant to those fixtures leases, we lease various fixtures, such as
loading bridges and freight elevators, to Deutsche Post for a similar term to that of the Deutsche Post
leases for nominal rent.
Certain Legal Matters Relating to Property in Germany
Title to the Initial Properties is subject to customary encumbrances, such as easements, encroachments,
zoning laws and restrictive covenants which are typical for commercial real estate properties of this type,
size and age. The majority of the Initial Properties are subject to easements providing customary rights to
utility lines, telecommunication cables, water pipes, rights-of-way and similar rights in favour of public
authorities, utility companies or private parties. In some cases, there are limited personal easements in
favour of the German National Railway to allow railway installations and operations. In one case an
easement restricts the use of the Initial Property to a postal office.
Three of the Initial Properties are subject to pre-emptive rights or rights of first refusal in the event of
subsequent sales of the affected properties. One of the Initial Properties is subject to an option to purchase
in favour of Deutsche Post. In addition to these encumbrances, at least 36 of the Initial Properties are
located in urban refurbishment, redevelopment or reallocation areas in which the sale, leasing and
encumbrance of such Initial Properties requires the approval of the competent public authority. Such
approval may be necessary for the granting of the first mortgages or in connection with the assignment of
the existing land charges to be provided under financing agreements. We obtained an undertaking from
Sub-Fund I to obtain all required public authority approvals for the execution or renewal of certain leases
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