KPH Board Meeting - September 2023 by thirty-four

KENNINGTON PROPERTY HOLDINGS

SEPTEMBER 2023

OWNER’S REPORT

KENNINGTON PROPERTY HOLDINGS LTD.

BOARD MEETING AGENDA

September 28, 2023

Review of Minutes

PROPERTY MANAGEMENT & ACCOUNTING REPORTS

1. Income Statement

2. Balance Sheet

3. Budget Comparison Report

4. Accounts Receivable Aging Report

5. General Ledger

6. Bank Reconciliation

7. Rent Roll

8. Management Fee Calculation

ASSET MANAGEMENT REPORTS

1. KPH Cash Flow Summary

2. Cash Flow Projections Summary

3. Leasing Reports

Bradford RETAIL

Bradford FLEX

Bradford OFFICE

Thirty-Four Commercial

4. Construction/Tenant Improvements

5. Additional Reports Litigation – N/A

JPMorgan Investment Summary

6. Old Business

Valley View refi options

Independent Bank deliverable - BTP

7. New Business

Valley View purchase offer

Next Meeting – Thursday, October 26, 2023

Adjournment

Board Meeting Minutes

OWNER’S REPORT

- SEPTEMBER 2023

KPH

APPROVAL OF AUGUST 2023 MINUTES

PROPERTY MANAGEMENT & ACCOUNTING REPORTS

OWNER’S REPORT

PROPERTY MANAGEMENT & ACCOUNTING REPORTS

INCOME STATEMENT

OWNER’S REPORT

Kennington Property Holdings Income Statement

Period = Aug 2023

Period to Date Year to Date REVENUE RENTAL INCOME Rental Income 801,659.05 6,318,520.89 Rent Abatement -4,428.67 -69,201.08 Deferred Rent 1,982.49 17,868.54 Rent - Holdover 5,243.91 21,532.05 Admin. Fees 600.00 4,800.00 TOTAL RENTAL INCOME 805,056.78 6,293,520.40 EXPENSE REIMBURSEMENT CAM Estimate 272,192.54 2,096,621.97 CAM Reconcile 0.00 196,677.41 Electric Estimate 4,422.69 37,480.06 TOTAL EXPENSE REIMBURSEMENT 276,615.23 2,330,779.44 OTHER INCOME Late and NSF Fees 295.23 4,949.83 TOTAL OTHER INCOME 295.23 4,949.83 TOTAL REVENUE 1,081,967.24 8,629,249.67 OPERATING EXPENSES REIMBURSABLE EXPENSES INSURANCE Insurance 0.00 311,058.21 TOTAL INSURANCE 0.00 311,058.21 GROUNDS MAINTENANCE Lawn/Landscape 26,727.58 224,856.41 Landscaping Improvements 0.00 3,071.59 Tree Trimming 0.00 2,178.26 Irrigation Repairs 384.29 20,265.73 Parking Lot Repairs 703.62 703.62 Parking Lot Cleaning 909.30 7,274.40 TOTAL GROUND MAINTENANCE 28,724.79 258,350.01 PROPERTY TAXES Taxes 0.00 -14,446.42 Property Tax Consulting 20,576.32 108,756.69 HOA Dues and Assessments 1,969.10 7,147.88 TOTAL PROPERTY TAXES 22,545.42 101,458.15 UTILITIES Electricity 11,195.55 108,069.69 Water 28,166.81 175,967.16

Kennington Property Holdings Income Statement

Period to Date Year to Date

Period = Aug 2023 Trash Pick Up 15,830.86 107,714.41 TOTAL UTILITIES 55,193.22 391,751.26 BUILDING MAINTENANCE Exterior Lighting 7,484.43 36,848.50 General Maintenance 0.00 2,725.42 Security 10,340.43 37,219.60 Fire Alarm Systems 1,000.00 25,182.86 Fire Alarm Phone Lines 367.40 12,889.94 Porter Services 6,249.75 52,801.68 Exterior Pest Control 6,403.00 37,503.27 Pest Control Services 0.00 1,001.33 Janitorial Services 7,656.49 68,605.31 Window Washing 3,716.22 11,600.08 Maintenance Wages 18,951.88 151,615.06 Elevator Contract 156.19 1,385.01 Misc. Repairs - Bldgs 575.89 2,130.96 Roof Repairs 0.00 1,900.13 HVAC Repairs 367.92 1,658.52 HVAC Contract 0.00 3,365.10 Plumbing Repairs 4,083.43 8,256.46 Electrical Repairs 0.00 1,123.64 Maint. Supplies 1,469.22 8,926.05 TOTAL BUILDING MAINTENANCE 68,822.25 466,738.92 MANAGEMENT FEES Management Fees 43,036.16 340,269.95 Management Wages 45,892.52 304,340.37 Administrative Wages 9,791.17 158,039.41 TOTAL MANAGEMENT FEES 98,719.85 802,649.73 TOTAL REIMBURSABLE EXPENSES 274,005.53 2,332,006.28 NON-REIMBURSABLE EXPENSES NON-CAM ADMIN EXPENSE Marketing Expense 5,483.65 39,502.25 Bank Charges 65.18 592.89 Penalties 0.00 2,255.80 Office Supplies 1,813.03 14,829.94 Computer Software 5,280.54 53,445.95 Dues and Subscriptions 0.00 13,486.69 Rent Expense 7,622.07 65,544.60 Late Fees 0.00 382.31 TOTAL NON-CAM ADMIN EXPENSE 20,264.47 190,040.43 7

Kennington Property Holdings Income Statement

Period = Aug 2023

Period to Date Year to Date

NON-CAM BUILDING EXPENSE Makeready Repairs0.00984.27 Makeready Cleaning21.6621.66 Makeready Expense0.00778.89 Locksmith Services735.832,488.98 Maintenance Vehicle0.009,094.81 Vacancy Cleaning Non-Cam88.781,116.40 HVAC Repairs Non-Cam-587.266,425.00 Plumbing Repair Non-Cam0.001,821.46 Ext. Signage216.50216.50 TOTAL NON-CAM BUILDING EXPENSE475.5122,947.97 NON-CAM UTILITIES Vacancy Electricity Non-Cam 3,666.92 23,385.28 Vacancy Gas Non-Cam 517.23 12,277.62 Utility Bill Back -155.81 3,125.26 TOTAL NON-CAM UTILITIES 4,028.34 38,788.16 TOTAL NON-REIMBURSABLE EXPENSES 24,768.32 251,776.56 TOTAL OPERATING EXPENSES 298,773.85 2,583,782.84 NET OPERATING INCOME 783,193.39 6,045,466.83 OWNER EXPENSES Franchise Tax 5,000.00 80,702.24 Asset Management Fee 10,759.05 85,067.51 Accounting 5,182.45 45,472.01 Consulting Fees 10,869.38 137,976.28 Meals 500.00 5,469.05 K.F. Overhead 3,908.75 39,100.65 TOTAL OWNER EXPENSES 36,219.63 393,787.74 DEBT EXPENSE Interest Expense 186,560.90 1,499,665.55 TOTAL DEBT EXPENSE 186,560.90 1,499,665.55 NET INCOME BEFORE AMORT AND DEPR EXPENS 560,412.86 4,152,013.54 NET INCOME 560,412.86 4,152,013.54 8

PROPERTY MANAGEMENT & ACCOUNTING REPORTS

BALANCE SHEET

OWNER’S REPORT

Kennington Property Holdings Balance Sheet

Current Balance ASSETS CASH Cash - Chase Savings301,770.02 Cash - Chase Operating564,021.91 Cash - Vantage Bank (51)100.00 TOTAL CASH865,891.93 ACCOUNTS RECEIVABLE Accounts Receivable-370.72 Due to/from-112,175.96 TOTAL ACCOUNTS RECEIVABLE-112,546.68 PROPERTY Land 6,452,597.99 Buildings79,604,238.20 Tenant Improvements9,166,301.24 Landscape Improvements1,036,623.19 TOTAL PROPERTY96,259,760.62 INTANGIBLE ASSETS Mortgage Escrow10,000.00 Mortgage Escrow - Alpha Plaza250,000.00 Tax Escrow - Tollway80,389.65 CapEx Escrow500,000.00 Utility Deposit - Skyway1,800.00 Loan Closing Cost1,447,429.45 Loan Fees236,704.75 Legal Closing Cost138,005.25 Legal Fees140,318.95 Loan Origination Fee76,888.72 Lease Commissions3,442,336.70 TOTAL INTANGIBLE ASSETS6,323,873.47 ACCUMULATED AMORTIZATION and DEPRECIATION Accum Amortization -871,898.00 Accum Depreciation -24,202,111.00 TOTAL ACCUMULATED AMORTIZATION and DEP -25,074,009.00 OTHER ASSETS Marketable Securities XX90086,460,447.26 Due Diligence Costs16,280.80 Deferred 1031 Asset167,166.98 TOTAL OTHER ASSETS6,643,895.04 TOTAL ASSETS84,906,865.38

Period = Aug 2023 10

Kennington Property Holdings Balance Sheet

Current Balance

Period = Aug 2023 LIABILITIES AND EQUITY MORTGAGE NOTES PAYABLES Mortgage Payable - Alpha Plaza3,881,054.50 Mortgage Payable - Midway Center4,300,000.00 Mortgage Payable - Campbell6,422,360.38 Mortgage Payable - Placid2,798,444.73 Mortgage Payable - Research Center8,709,791.29 Mortgage Payable - Valley View Center 1 2 32,053,199.39 Mortgage Payable - ABC4,633,935.80 Mortgage Payable - Skyway3,311,323.76 Mortgage Payable - Jupiter North1,910,146.37 Mortgage Payable - Jupiter South5,381,366.61 Mortgage Payable - Waters Ridge Tech II3,310,826.05 Mortgage Payable - Waters Ridge Tech III7,455,166.85 Mortgage Payable - Tollway3,850,000.00 TOTAL MORTGAGE NOTES PAYABLES58,017,615.73 LINE OF CREDIT Line of credit - JP Morgan Chase300,000.00 TOTAL LINE OF CREDIT300,000.00 TOTAL NOTES58,317,615.73 ACCOUNTS PAYABLE Accounts Payable342,489.14 Prepaid Rent38,917.63 Insurance Proceeds550,126.65 TOTAL ACCOUNTS PAYABLE931,533.42 OTHER LIABILITIES Security Deposits794,947.83 Deferred 1031 Gain10,964,473.62 TOTAL OTHER LIABILITIES11,759,421.45 TOTAL LIABILITIES71,008,570.60 EQUITY The Dallas Foundation76,762.03 Craig Kennington CCC Trust3,065,978.73 Clark Kennington CCC Trust3,065,980.66 Clayton Kennington CCC Trust3,065,979.68 OWNER DRAW Capital Distributions - Craig Kennington CCC Trust -8,545,894.76 Capital Distributions - Clark Kennington CCC Trust -8,545,894.76 Capital Distributions - Clayton Kennington CCC Trust -8,545,894.76 11

Kennington Property Holdings Balance Sheet

Current Balance

Period = Aug 2023 Capital Distributions - The Dallas Foundation -951,981.67 TOTAL OWNER DRAW -26,589,665.95 Retained Earnings 36,531,487.62 Prior Years Retained Earnings -5,318,227.99 TOTAL EQUITY 13,898,294.78 TOTAL LIABILITIES AND EQUITY 84,906,865.38 12

PROPERTY MANAGEMENT & ACCOUNTING REPORTS

BUDGET COMPARISON REPORT

OWNER’S REPORT

Kennington Property Holdings Budget Comparison

PTD Actual PTD Budget Variance YTD Actual YTD Budget Variance Annual REVENUE RENTAL INCOME Rental Income801,659.05793,293.088,365.976,318,520.896,198,508.83120,012.069,495,272.15 Rent Abatement-4,428.670.00-4,428.67-69,201.080.00-69,201.080.00 Deferred Rent1,982.491,982.490.0017,868.5417,868.540.0025,798.50 Rent - Holdover5,243.910.005,243.9121,532.050.0021,532.050.00 Admin. Fees600.00600.000.004,800.004,800.000.007,200.00 TOTAL RENTAL INCOME805,056.78795,875.579,181.216,293,520.406,221,177.3772,343.039,528,270.65 EXPENSE REIMBURSEMENT CAM Estimate272,192.54301,424.31-29,231.772,096,621.972,406,061.23-309,439.263,611,758.39 CAM Reconcile0.000.000.00196,677.410.00196,677.410.00 Electric Estimate4,422.695,778.69-1,356.0037,480.0645,438.36-7,958.3068,553.12 TOTAL EXPENSE REIMBURSEMENT276,615.23307,203.00-30,587.772,330,779.442,451,499.59-120,720.153,680,311.51 OTHER INCOME Late and NSF Fees295.230.00295.234,949.830.004,949.830.00 TOTAL OTHER INCOME295.230.00295.234,949.830.004,949.830.00 TOTAL REVENUE1,081,967.241,103,078.57-21,111.338,629,249.678,672,676.96-43,427.2913,208,582.16 OPERATING EXPENSES REIMBURSABLE EXPENSES INSURANCE Insurance0.000.000.00311,058.21311,078.7920.58414,771.72 TOTAL INSURANCE0.000.000.00311,058.21311,078.7920.58414,771.72 GROUNDS MAINTENANCE Lawn/Landscape26,727.5826,231.36-496.22224,856.41211,318.78-13,537.63315,721.38 Landscaping Improvements0.000.000.003,071.5921,150.0018,078.4143,700.00 Tree Trimming0.000.000.002,178.2635,905.3533,727.0966,705.35 Irrigation Repairs384.292,315.301,931.0120,265.7333,263.9712,998.2450,383.97 Snow Removal0.000.000.000.0020,608.4520,608.4528,908.45 Parking Lot Repairs703.62590.00-113.62703.6211,720.0011,016.3823,280.00 Parking Lot Cleaning909.30825.70-83.607,274.407,282.207.8010,844.84 TOTAL GROUND MAINTENANCE28,724.7929,962.361,237.57258,350.01341,248.7582,898.74539,543.99 PROPERTY TAXES Taxes0.000.000.00-14,446.420.0014,446.421,672,731.08 Property Tax Consulting20,576.3236,391.4015,815.08108,756.6936,391.40-72,365.2949,391.40 HOA Dues and Assessments1,969.100.00-1,969.107,147.885,385.93-1,761.955,385.93 TOTAL PROPERTY TAXES22,545.4236,391.4013,845.98101,458.1541,777.33-59,680.821,727,508.41 UTILITIES Electricity11,195.5510,162.88-1,032.67108,069.6982,476.47-25,593.22123,431.95 Water28,166.8131,038.732,871.92175,967.16177,363.741,396.58256,805.41 Trash Pick Up15,830.8611,098.45-4,732.41107,714.41101,342.39-6,372.02155,599.63 TOTAL UTILITIES55,193.2252,300.06-2,893.16391,751.26361,182.60-30,568.66535,836.99 BUILDING MAINTENANCE Exterior Lighting7,484.433,590.28-3,894.1536,848.5029,764.44-7,084.0645,025.04 General Maintenance0.002,440.002,440.002,725.4219,848.0017,122.5830,728.00 Security10,340.43518.30-9,822.1337,219.605,069.39-32,150.217,874.83 Fire Alarm Systems1,000.001,295.01295.0125,182.8627,383.042,200.1836,451.58 Fire Alarm Phone Lines367.401,069.41702.0112,889.949,354.71-3,535.2313,595.15 Porter Services6,249.757,307.771,058.0252,801.6850,905.20-1,896.4875,830.32 Exterior Pest Control6,403.004,133.86-2,269.1437,503.2734,499.78-3,003.4951,686.70 Pest Control Services0.000.000.001,001.330.00-1,001.330.00 Janitorial Services7,656.498,037.37380.8868,605.3164,298.96-4,306.3596,448.44 Window Washing3,716.225,156.131,439.9111,600.0815,629.544,029.4621,133.95 Maintenance Wages18,951.8814,416.04-4,535.84151,615.06115,670.94-35,944.12178,194.17 Elevator Contract156.19292.24136.051,385.012,337.92952.913,506.88 Misc. Repairs - Bldgs575.891,600.001,024.112,130.9613,300.0011,169.0420,200.00 Roof Repairs0.0090.0090.001,900.133,220.001,319.876,080.00

Period = Aug 2023 14

Kennington Property Holdings Budget Comparison

PTD Actual PTD Budget Variance YTD Actual YTD Budget Variance Annual

Aug 2023 HVAC Repairs 367.924,500.004,132.081,658.5228,500.0026,841.4842,000.00 HVAC Contract 0.00 0.00 0.003,365.10 0.00-3,365.10 0.00 Plumbing Repairs 4,083.432,138.00-1,945.438,256.4624,958.4516,701.9938,630.45 Electrical Repairs 0.003,248.003,248.001,123.6427,198.4526,074.8140,960.65 Maint. Supplies 1,469.221,627.95 158.738,926.0511,381.792,455.7416,856.47 TOTAL BUILDING MAINTENANCE 68,822.2561,460.36-7,361.89466,738.92483,320.6116,581.69725,202.63 MANAGEMENT FEES Management Fees 43,036.1641,989.28-1,046.88340,269.95329,073.22-11,196.73503,325.08 Management Wages 45,892.5224,593.76-21,298.76304,340.37221,456.83-82,883.54342,041.40 Administrative Wages 9,791.1721,468.2011,677.03158,039.41185,211.9527,172.54272,457.84 TOTAL MANAGEMENT FEES 98,719.8588,051.24-10,668.61802,649.73735,742.00-66,907.731,117,824.32 TOTAL REIMBURSABLE EXPENSES 274,005.53268,165.42-5,840.112,332,006.282,274,350.08-57,656.205,060,688.06 NON-REIMBURSABLE EXPENSES NON-CAM ADMIN EXPENSE Marketing Expense 5,483.653,376.93-2,106.7239,502.2551,355.8511,853.6063,642.44 Bank Charges 65.18 81.67 16.49 592.89 628.72 35.83 955.40 Penalties 0.00 0.00 0.002,255.80 0.00-2,255.80 0.00 Office Supplies 1,813.033,114.051,301.0214,829.9431,653.1616,823.2240,374.76 Computer Software 5,280.5410,533.935,253.3953,445.9561,621.448,175.4976,157.16 Dues and Subscriptions 0.00 0.00 0.0013,486.6911,707.96-1,778.7311,715.32 Rent Expense 7,622.077,063.48 -558.5965,544.6062,115.04-3,429.5687,461.80 Late Fees 0.00 0.00 0.00 382.31 0.00 -382.31 0.00 TOTAL NON-CAM ADMIN EXPENSE 20,264.4724,170.063,905.59190,040.43219,082.1729,041.74280,306.88 NON-CAM BUILDING EXPENSE Makeready Repairs 0.00 747.11 747.11 984.275,976.884,992.618,965.32 Makeready Cleaning 21.66 30.00 8.34 21.66 240.00 218.34 360.00 Makeready Expense 0.00 150.00 150.00 778.894,439.333,660.445,639.33 Locksmith Services 735.83 410.00 -325.832,488.983,594.851,105.875,725.65 Maintenance Vehicle 0.00 419.46 419.469,094.813,355.68-5,739.136,055.44 Vacancy Cleaning Non-Cam 88.78 89.13 0.351,116.40 713.04 -403.361,069.56 HVAC Repairs Non-Cam -587.267,931.368,518.626,425.0022,512.3616,087.3631,422.88 Plumbing Repair Non-Cam 0.009,129.469,129.461,821.4619,752.8417,931.3826,252.84 Ext. Signage 216.50 0.00 -216.50 216.50 0.00 -216.50 0.00 TOTAL NON-CAM BUILDING EXPENSE 475.5118,906.5218,431.0122,947.9760,584.9837,637.0185,491.02 NON-CAM UTILITIES Vacancy Electricity Non-Cam 3,666.929,245.945,579.0223,385.2841,870.2718,484.9950,176.51 Vacancy Gas Non-Cam 517.23 906.65 389.4212,277.6217,461.915,184.2924,614.95 Utility Bill Back -155.81 0.00 155.813,125.26 0.00-3,125.26 0.00 TOTAL NON-CAM UTILITIES 4,028.3410,152.596,124.2538,788.1659,332.1820,544.0274,791.46 TOTAL NON-REIMBURSABLE EXPENSES 24,768.3253,229.1728,460.85251,776.56338,999.3387,222.77440,589.36 TOTAL OPERATING EXPENSES 298,773.85321,394.5922,620.742,583,782.842,613,349.4129,566.575,501,277.42 NET OPERATING INCOME 783,193.39781,683.981,509.416,045,466.836,059,327.55-13,860.727,707,304.74 OWNER EXPENSES Franchise Tax 5,000.00 0.00-5,000.0080,702.2450,000.00-30,702.2450,000.00 Asset Management Fee 10,759.0510,497.33 -261.7285,067.5182,268.45-2,799.06125,831.47 Accounting 5,182.459,117.723,935.2745,472.0172,941.7627,469.75109,412.64 Consulting Fees 10,869.3822,758.3211,888.94137,976.28182,066.5644,090.28273,099.84 Meals 500.00 257.07 -242.935,469.052,056.56-3,412.493,084.84 K.F. Overhead 3,908.7510,008.336,099.5839,100.6580,066.6440,965.99120,099.96 TOTAL OWNER EXPENSES 36,219.6352,638.7716,419.14393,787.74469,399.9775,612.23681,528.75 DEBT EXPENSE Interest Expense 186,560.90177,179.64-9,381.261,499,665.551,425,577.39-74,088.162,131,263.11 TOTAL DEBT EXPENSE 186,560.90177,179.64-9,381.261,499,665.551,425,577.39-74,088.162,131,263.11 NET INCOME BEFORE AMORT AND DEPR EXPENS 560,412.86551,865.578,547.294,152,013.544,164,350.19-12,336.654,894,512.88 NET INCOME560,412.86551,865.578,547.294,152,013.544,164,350.19-12,336.654,894,512.88 15

Period =

PROPERTY MANAGEMENT & ACCOUNTING REPORTS

ACCOUNTS RECEIVABLE AGING REPORT

OWNER’S REPORT

Aged Receivable

Property

OwedOwedOwedOwed90 OwedPaymentsOwed 027 - Alpha Plaza 8,677.023,666.670.003,666.671,343.68-3,084.005,593.02 030 - Midway Center 10,156.174,541.870.000.005,614.30-23,635.49-13,479.32 035 - Campbell 1 0.000.000.000.000.00-63,065.82-63,065.82 037 - Placid 0.010.010.000.000.00-7,676.03-7,676.02 044 - Research Center 2,827.262,827.260.000.000.00-49,603.11-46,775.85 046 - Valley View Commerce Center24,010.7024,010.700.000.000.00-20,915.993,094.71 049 - Alpha Business Center 1,248.071,248.070.000.000.00-25,050.12-23,802.05 050 - Skyway Circle 4,551.944,551.940.000.000.00-10,290.40-5,738.46 052 - Jupiter Center South 0.000.000.000.000.00-51,507.37-51,507.37 053 - Waters Ridge Tech 2 0.000.000.000.000.00-60,694.84-60,694.84 054 - Waters Ridge Tech 3 0.000.000.000.000.00-34,606.58-34,606.58 055 - Tollway 0.000.000.000.000.00-24,054.49-24,054.49 Grand Total 51,471.1740,846.520.00 3,666.676,957.98-374,184.24-322,713.07

Current0-3031-6061-90Over Pre-Total

Status: Current Age As Of: 08/31/2023 UserId : steve@kenningtoncommercial.com Date : 9/15/2023 Time : 10:12 AM 17

PROPERTY MANAGEMENT & ACCOUNTING REPORTS

GENERAL LEDGER

OWNER’S REPORT

GENERAL LEDGER

OWNER PORTAL SNAPSHOT

PROPERTY MANAGEMENT & ACCOUNTING REPORTS

BANK

RECONCILIATION

OWNER’S REPORT

Cleared Items:

KPH - Operating

Bank Reconciliation Report

Balance Per Bank Statement as of 8/31/2023 575,215.74 Outstanding Deposits Deposit Date Deposit Number Amount 8/31/2023 1123 51,771.20 Plus: Outstanding Deposits 51,771.20 Outstanding Checks Check Date Check Number Payee Amount 5/3/2023 4156 dal03 - The Dallas Foundation 3,098.23 5/19/2023 4200 dal03 - The Dallas Foundation 4,379.12 7/14/2023 4310 far02 - City of Farmers Branch 832.86 8/17/2023 4392 att04 - AT&T 255.73 8/24/2023 4401 dal03 - The Dallas Foundation 4,379.12 8/24/2023 4409 ame02 - American Backflow & Plumbing LLC 238.69 8/24/2023 4410 ame03 - American Fire Protection Group, Inc. 1,000.00 8/24/2023 4412 car05 - Carter Pest Control LLC 1,365.03 8/24/2023 4415 far02 - City of Farmers Branch 1,043.97 8/24/2023 4418 t0004962 - Urban Studio Kitchen LLC 48,200.00 8/28/2023 4422 v0000181 - TX UCC Statement Service 90.00 8/31/2023 4423 ali01 - A Litter Help, LLC 165.62 8/31/2023 4424 alp02 - Alpha Glass and Mirror Co. Inc. 575.89 8/31/2023 4425 atm01 - Atmos Energy 295.16 8/31/2023 4426 bra01 - Bradford Realty Services of Dallas Inc. 19,760.76 8/31/2023 4427 car05 - Carter Pest Control LLC 1,460.30 8/31/2023 4428 far02 - City of Farmers Branch 4,167.53 8/31/2023 4429 fre01 - Freepoint Energy Solutions LLC 3,962.96 8/31/2023 4430 fro01 - Frontier 486.00 8/31/2023 4431 mas02 - Massey Services, Inc. 75.78 8/31/2023 4432 pla01 - City of Plano 1,480.44 8/31/2023 4433 sig01 - Signarama 216.50 8/31/2023 4434 v0000184 - WR Phase II Association, Inc. 1,969.10 8/31/2023 4435 vic01 - Victory Lighting & Electrical Services, LLC 2,498.09 Less: Outstanding Checks 101,996.88 Reconciled Bank Balance 524,990.06 Balance per GL as of 8/31/2023 524,990.06 Reconciled Balance Per G/L 524,990.06 Difference (Reconciled Bank Balance And Reconciled Balance Per G/L) 0.00

742535161

9/1/2023

by: sdobbs on 9/1/2023 21

8/31/2023 Posted

KPH - Operating

Bank Reconciliation Report

Cleared Checks Date Tran # Notes Amount Date Cleared 7/14/2023 4307 dal03 - The Dallas Foundation 4,379.12 8/31/2023 7/14/2023 4316 mar02 - Marjorie J. Stephens Law Office 560.00 8/31/2023 7/20/2023 4332 pre03 - Preston Pierce Construction Co. 1,683.74 8/31/2023 7/27/2023 4340 atm01 - Atmos Energy 149.38 8/31/2023 7/27/2023 4341 bra01 - Bradford Realty Services of Dallas Inc. 63,390.03 8/30/2023 7/27/2023 4342 car05 - Carter Pest Control LLC 2,928.16 8/31/2023 7/27/2023 4344 cit02 - City of Richardson 2,254.67 8/31/2023 7/27/2023 4346 dmg01 - Dallas Mechanical Group 574.27 8/31/2023 7/27/2023 4347 far02 - City of Farmers Branch 5,547.19 8/31/2023 7/27/2023 4349 fro01 - Frontier 59.96 8/31/2023 7/27/2023 4350 mun01 - Munsch Hardt Kopf & Harr, P.C. 6,375.00 8/31/2023 7/27/2023 4351 ove02 - Overtaxed, Ltd. 29,018.93 8/31/2023 7/27/2023 4352 ric02 - Richardson Fire Equipment Co. 568.31 8/31/2023 7/27/2023 4354 v0000174 - Uline, Inc. 652.38 8/31/2023 7/27/2023 4355 vic01 - Victory Lighting & Electrical Services, LLC 674.98 8/31/2023 8/1/2023 4356 ken30 - 52 Management, LP 76,406.67 8/31/2023 8/1/2023 4357 v0000043 - Kennington Tollway, LLC 20,000.00 8/31/2023 8/1/2023 22338608012023 nor03 - NorthMarq Capital 15,959.31 8/30/2023 8/1/2023 22382008012023 nor03 - NorthMarq Capital 17,608.99 8/30/2023 8/1/2023 22382208012023 nor03 - NorthMarq Capital 24,421.23 8/30/2023 8/1/2023 22400308012023 lin01 - Lincoln Financial 54,454.16 8/30/2023 8/1/2023 22425008012023 nor03 - NorthMarq Capital 30,045.56 8/30/2023 8/1/2023 22427208012023 nor03 - NorthMarq Capital 18,705.23 8/30/2023 8/1/2023 22431408012023 nor03 - NorthMarq Capital 24,763.82 8/30/2023 8/1/2023 22483808012023 nor03 - NorthMarq Capital 41,443.62 8/30/2023 8/3/2023 4358 ken30 - 52 Management, LP 24,629.34 8/31/2023 8/4/2023 4359 atm01 - Atmos Energy 222.07 8/31/2023 8/4/2023 4360 car05 - Carter Pest Control LLC 1,445.14 8/31/2023 8/4/2023 4361 cdc01 - C & D Commercial Services, Inc. 135.32 8/31/2023 8/4/2023 4362 fre01 - Freepoint Energy Solutions LLC 5,118.65 8/31/2023 8/4/2023 4363 gua01 - Guard Texas 544.22 8/31/2023 8/4/2023 4364 pla01 - City of Plano 13,594.10 8/31/2023 8/4/2023 4365 rep02 - Republic Services #794 13,611.69 8/31/2023 8/4/2023 4366 sim01 - Kevin P. Simon 695.70 8/31/2023 8/4/2023 4367 v0000176 - Walkway Grinding and Raising Inc. 703.62 8/31/2023 8/4/2023 4368 vic01 - Victory Lighting & Electrical Services, LLC 511.91 8/31/2023 8/8/2023 4369 ken30 - 52 Management, LP 41,704.99 8/31/2023 8/10/2023 4370 alp02 - Alpha Glass and Mirror Co. Inc. 1,547.22 8/31/2023 8/10/2023 4371 cdc01 - C & D Commercial Services, Inc. 773.98 8/31/2023 8/10/2023 4372 cit01 - City Wide Building Services LLC 1,159.36 8/31/2023 8/10/2023 4373 den01 - Denton & Associates 19,818.75 8/31/2023 8/10/2023 4374 dig01 - Digi Security Solutions 116.91 8/31/2023 8/10/2023 4375 fre01 - Freepoint Energy Solutions LLC 3,739.06 8/31/2023 8/10/2023 4376 fro01 - Frontier 486.00 8/31/2023 8/10/2023 4377 ken30 - 52 Management, LP 43,000.00 8/31/2023 8/10/2023 4378 mat01 - Matrix Construction Services 2,927.00 8/31/2023 8/10/2023 4379 ove02 - Overtaxed, Ltd. 7,109.47 8/31/2023 8/10/2023 4380 tid01 - Tidy Aire, Inc. 86.62 8/31/2023 8/10/2023 4381 v0000002 - Hudson Energy Services, LLC 996.60 8/31/2023 8/10/2023 4382 v0000013 - City of Lewisville 3,476.33 8/31/2023 8/10/2023 4383 v0000043 - Kennington Tollway, LLC 100,000.00 8/31/2023 742535161

9/1/2023

8/31/2023 Posted by: sdobbs on 9/1/2023 22

Bank Reconciliation Report

Cleared Checks Date Tran # Notes Amount Date Cleared 8/10/2023 4384 cit01 - City Wide Building Services LLC 607.28 8/31/2023 8/10/2023 4385 far02 - City of Farmers Branch 839.97 8/31/2023 8/11/2023 4386 car05 - Carter Pest Control LLC 784.81 8/31/2023 8/11/2023 4387 mas02 - Massey Services, Inc. 75.78 8/31/2023 8/11/2023 4388 ove02 - Overtaxed, Ltd. 5,248.68 8/31/2023 8/11/2023 4389 v0000067 - Gilberto Barrera 3,898.00 8/31/2023 8/11/2023 4390 aos01 - AOS Engineering, LLC 2,670.00 8/31/2023 8/11/2023 4391 int02 - Interprise/Southwest Interior & Space Design, Inc. 3,546.42 8/31/2023 8/17/2023 4393 car05 - Carter Pest Control LLC 958.01 8/31/2023 8/17/2023 4394 cit01 - City Wide Building Services LLC 331.24 8/31/2023 8/17/2023 4395 fre01 - Freepoint Energy Solutions LLC 2,049.03 8/31/2023 8/17/2023 4396 mat01 - Matrix Construction Services 4,604.73 8/31/2023 8/17/2023 4397 v0000002 - Hudson Energy Services, LLC 390.02 8/31/2023 8/17/2023 4398 v0000159 - LandCare USA LLC 31,765.30 8/31/2023 8/17/2023 4399 vic01 - Victory Lighting & Electrical Services, LLC 3,232.16 8/31/2023 8/18/2023 4400 ove02 - Overtaxed, Ltd. 1,550.00 8/31/2023 8/24/2023 4402 ken26 - Craig Kennington CCC Trust 36,686.08 8/31/2023 8/24/2023 4403 ken27 - Clark Kennington CCC Trust 40,000.00 8/31/2023 8/24/2023 4404 ken28 - Clayton Kennington CCC Trust 40,000.00 8/31/2023 8/24/2023 4405 ken30 - 52 Management, LP 3,313.92 8/31/2023 8/24/2023 4406 ken30 - 52 Management, LP 41,715.21 8/31/2023 8/24/2023 4407 v0000043 - Kennington Tollway, LLC 80,000.00 8/31/2023 8/24/2023 4408 ali01 - A Litter Help, LLC 5,808.09 8/31/2023 8/24/2023 4411 bra01 - Bradford Realty Services of Dallas Inc. 3,915.91 8/31/2023 8/24/2023 4413 cit01 - City Wide Building Services LLC 276.04 8/31/2023 8/24/2023 4414 cit02 - City of Richardson 2,682.86 8/31/2023 8/24/2023 4416 far03 - Farmer Environmental Group, LLC 1,425.00 8/31/2023 8/24/2023 4417 mun01 - Munsch Hardt Kopf & Harr, P.C. 938.00 8/31/2023 8/24/2023 4419 v0000159 - LandCare USA LLC 1,431.07 8/31/2023 8/24/2023 4420 vic01 - Victory Lighting & Electrical Services, LLC 327.56 8/31/2023 8/24/2023 4421 bra01 - Bradford Realty Services of Dallas Inc. 13,200.11 8/31/2023 8/31/2023 4436 v0000043 - Kennington Tollway, LLC 225,000.00 8/31/2023 Total Cleared Checks 1,290,050.04 Cleared Deposits Date Tran # Notes Amount Date Cleared 7/31/2023 1091 :ACH Deposit 14,069.25 8/30/2023 7/31/2023 1092 :ACH Deposit 10,255.63 8/30/2023 8/1/2023 1093 :ACH Deposit 11,441.00 8/31/2023 8/1/2023 1094 :ACH Deposit 15,696.81 8/31/2023 8/1/2023 1095 :ACH Deposit 19,040.02 8/31/2023 8/1/2023 1096 :ACH Deposit 9,412.99 8/31/2023 8/1/2023 1097 :ACH Deposit 8,847.23 8/31/2023 8/1/2023 1098 :ACH Deposit 7,241.00 8/31/2023 8/1/2023 1099 :ACH Deposit 11,807.76 8/31/2023 8/1/2023 1100 :ACH Deposit 75,421.30 8/31/2023 8/1/2023 2444 32,038.50 8/30/2023 8/1/2023 2445 19,777.33 8/30/2023 8/1/2023 2446 14,357.79 8/30/2023 8/1/2023 2447 13,364.23 8/30/2023 742535161 KPH - Operating 9/1/2023

8/31/2023 Posted by: sdobbs on 9/1/2023 23

KPH - Operating

Bank Reconciliation Report 8/31/2023

Cleared Deposits Date Tran # Notes Amount Date Cleared 8/1/2023 2448 8,361.86 8/30/2023 8/1/2023 2449 4,187.67 8/30/2023 8/2/2023 1101 :ACH Deposit 38,193.00 8/31/2023 8/2/2023 1102 :ACH Deposit 78,921.29 8/31/2023 8/2/2023 1103 :CC Deposit 9,083.18 8/31/2023 8/2/2023 2450 57,589.28 8/31/2023 8/3/2023 1104 :ACH Deposit 7,627.98 8/31/2023 8/3/2023 1105 :ACH Deposit 4,055.13 8/31/2023 8/3/2023 2451 11,648.60 8/31/2023 8/3/2023 2452 4,273.00 8/31/2023 8/4/2023 1106 :ACH Deposit 5,600.00 8/31/2023 8/4/2023 1107 :ACH Deposit 5,905.65 8/31/2023 8/4/2023 1108 :ACH Deposit 3,800.00 8/31/2023 8/4/2023 1109 :ACH Deposit 33,787.13 8/31/2023 8/4/2023 1110 :CC Deposit 2,438.50 8/31/2023 8/4/2023 2453 12,912.90 8/31/2023 8/5/2023 1111 :ACH Deposit 9,455.07 8/31/2023 8/6/2023 1112 :ACH Deposit 33,055.35 8/31/2023 8/6/2023 1113 :CC Deposit 6,284.98 8/31/2023 8/7/2023 1114 :ACH Deposit 14,880.35 8/31/2023 8/7/2023 2454 39,882.10 8/31/2023 8/7/2023 2455 39,882.50 8/31/2023 8/7/2023 2456 5,328.54 8/31/2023 8/7/2023 2457 70,946.41 8/31/2023 8/8/2023 1115 :ACH Deposit 10,175.00 8/31/2023 8/8/2023 2458 3,613.28 8/31/2023 8/8/2023 2459 5,112.22 8/31/2023 8/8/2023 2460 6,873.67 8/31/2023 8/8/2023 2461 6,193.00 8/31/2023 8/8/2023 2462 5,500.00 8/31/2023 8/9/2023 2463 10,189.57 8/31/2023 8/9/2023 2464 1,673.75 8/31/2023 8/10/2023 2465 9,222.65 8/31/2023 8/10/2023 2466 13,306.00 8/31/2023 8/11/2023 1116 :ACH Deposit 12,368.40 8/31/2023 8/11/2023 1117 :CC Deposit 2,422.50 8/31/2023 8/14/2023 2467 199.94 8/31/2023 8/15/2023 2468 86.29 8/31/2023 8/21/2023 2469 25,050.75 8/31/2023 8/24/2023 2470 28,875.40 8/31/2023 8/24/2023 2471 8,309.00 8/31/2023 8/25/2023 2472 10,290.40 8/31/2023 8/27/2023 1118 :ACH Deposit 5,231.17 8/31/2023 8/28/2023 1119 :ACH Deposit 19,302.23 8/31/2023 8/28/2023 2473 15,944.88 8/31/2023 8/28/2023 2474 16,908.54 8/31/2023 8/29/2023 1120 :ACH Deposit 7,687.00 8/31/2023 8/29/2023 1121 :ACH Deposit 14,431.58 8/31/2023 8/29/2023 2475 45,872.31 8/31/2023 8/30/2023 1122 :ACH Deposit 14,069.25 8/31/2023 8/30/2023 2476 9,535.17 8/31/2023 742535161

9/1/2023

Posted by: sdobbs on 9/1/2023 24

KPH - Operating

Reconciliation Report

Cleared Deposits Date Tran # Notes Amount Date Cleared 8/31/2023 2477 4,187.67 8/31/2023 8/31/2023 2478 9,292.00 8/31/2023 Total Cleared Deposits 1,092,794.93 Cleared Other Items Date Tran # Notes Amount Date Cleared 8/1/2023 JE 8340 8/23 Loan Pmt -49,311.54 8/30/2023 8/1/2023 JE 8386 8/23 Loan Pmt -21,808.58 8/31/2023 8/3/2023 JE 8361 Midway Refi Loan 4,245,107.12 8/31/2023 8/11/2023 JE 8388 2023 TX Franchise Tax -5,000.00 8/31/2023 8/11/2023 JE 8391 Trnsfr to Sec # 9008 -4,000,000.00 8/31/2023 8/11/2023 JE 8392 Trnsfr to Sec # 9008 -623,506.37 8/31/2023 8/14/2023 JE 8393 AT&T Refund #4625 860.33 8/31/2023 8/15/2023 JE 8395 Trnsfr frm Sec # 9008 623,506.37 8/31/2023 8/23/2023 JE 8408 Title Refund for Midway Finance 15.00 8/31/2023 8/25/2023 JE 8421 8/23 Interest on Line of Cr -1,653.33 8/31/2023 Total Cleared Other Items 168,209.00

742535161

9/1/2023

Bank

8/31/2023 Posted by: sdobbs on 9/1/2023

Bank Reconciliation Report

Cleared Items: Cleared Checks Date Tran # Notes Amount Date Cleared 7/27/2023 441 ali01 - A Litter Help, LLC 276.04 8/31/2023 7/27/2023 442 car05 - Carter Pest Control LLC 427.59 8/31/2023 7/27/2023 443 mun01 - Munsch Hardt Kopf & Harr, P.C. 2,242.50 8/31/2023 7/27/2023 444 v0000029 - Expert Services, LLC 843.00 8/31/2023 7/27/2023 446 v0000075 - Gexa Energy 14,730.58 8/31/2023 7/27/2023 447 v0000119 - Mountain West Series of Lockton Companies, LLC 5,845.07 8/31/2023 7/27/2023 448 v0000163 - Securitas Security Services USA Inc. 1,498.98 8/31/2023 7/27/2023 449 vic01 - Victory Lighting & Electrical Services, LLC 818.68 8/31/2023 8/1/2023 450 ken30 - 52 Management, LP 9,189.48 8/31/2023 8/3/2023 451 ken30 - 52 Management, LP 1,697.70 8/31/2023 8/4/2023 452 cit01 - City Wide Building Services LLC 1,342.30 8/31/2023 8/4/2023 453 v0000018 - Rhino Removal 528.96 8/31/2023 8/4/2023 454 v0000020 - Simpson Landscape Maintenance, Inc. 1,216.50 8/31/2023 8/4/2023 455 v0000097 - LSGC Electric 893.06 8/31/2023 8/4/2023 457 v0000163 - Securitas Security Services USA Inc. 3,833.72 8/31/2023 Balance Per Bank Statement as of 8/31/2023 338,492.59 Outstanding Checks Check Date Check Number Payee Amount 8/4/2023 458 v0000175 - A-Sign Company 188.36 8/24/2023 477 lon01 - Lonestar General Contracting 24,335.44 8/24/2023 478 pre03 - Preston Pierce Construction Co. 44,500.03 8/24/2023 480 v0000163 - Securitas Security Services USA Inc. 3,265.40 8/31/2023 481 ali01 - A Litter Help, LLC 276.04 8/31/2023 482 car05 - Carter Pest Control LLC 189.44 8/31/2023 483 pre03 - Preston Pierce Construction Co. 143,207.95 8/31/2023 484 t0004835 - Workshop Studio, LLC 933.00 8/31/2023 485 t0004835 - Workshop Studio, LLC 61,192.05 8/31/2023 486 tid01 - Tidy Aire, Inc. 23.82 8/31/2023 487 v0000097 - LSGC Electric 4,156.80 8/31/2023 488 v0000128 - Thirty-Four Commercial, Inc. 11,316.44 8/31/2023 489 v0000138 - The IdGroup LLC 2,800.00 8/31/2023 490 v0000163 - Securitas Security Services USA Inc. 2,697.09 8/31/2023 491 v0000183 - Snowball Express 378.88 Less: Outstanding Checks 299,460.74 Reconciled Bank Balance 39,031.85 Balance per GL as of 8/31/2023 39,031.85 Reconciled Balance Per G/L 39,031.85 Difference (Reconciled Bank Balance And Reconciled Balance Per G/L) 0.00 1201445606 Tollway-Operating 9/1/2023

8/31/2023 Posted by: sdobbs on 9/1/2023 26

Cleared Checks Date Tran # Notes Amount Date Cleared 8/8/2023 459 ken30 - 52 Management, LP 8,389.54 8/31/2023 8/10/2023 460 hsc01 - Hopson Services Company, Inc. 649.50 8/31/2023 8/10/2023 461 lon01 - Lonestar General Contracting 41,740.54 8/31/2023 8/10/2023 462 mat01 - Matrix Construction Services 1,600.24 8/31/2023 8/10/2023 463 ove02 - Overtaxed, Ltd. 6,668.17 8/31/2023 8/10/2023 464 v0000018 - Rhino Removal 528.96 8/31/2023 8/10/2023 465 v0000019 - Bagby Elevator Company, Inc. 156.19 8/31/2023 8/10/2023 466 v0000029 - Expert Services, LLC 1,842.62 8/31/2023 8/10/2023 467 v0000069 - Texas Safe & Lock 735.83 8/31/2023 8/10/2023 468 v0000080 - LoopNet 2,167.74 8/31/2023 8/10/2023 469 v0000128 - Thirty-Four Commercial, Inc. 7,455.24 8/31/2023 8/10/2023 470 v0000138 - The IdGroup LLC 900.00 8/31/2023 8/11/2023 471 v0000108 - GTP Consulting, LLC 49,000.00 8/31/2023 8/17/2023 472 car05 - Carter Pest Control LLC 48.71 8/31/2023 8/17/2023 473 tid01 - Tidy Aire, Inc. 60.62 8/31/2023 8/17/2023 474 v0000160 - Integrity Facility Solutions, Inc. 7,595.87 8/31/2023 8/17/2023 475 vic01 - Victory Lighting & Electrical Services, LLC 21.65 8/31/2023 8/24/2023 476 ken30 - 52 Management, LP 8,390.07 8/31/2023 8/24/2023 479 v0000031 - City of Dallas 2,042.86 8/31/2023 Total Cleared Checks 185,378.51 Cleared Deposits Date Tran # Notes Amount Date Cleared 8/1/2023 62 :ACH Deposit 9,209.91 8/31/2023 8/2/2023 99 6,108.15 8/31/2023 8/3/2023 100 4,508.25 8/31/2023 8/4/2023 63 :ACH Deposit 14,484.47 8/31/2023 8/4/2023 101 2,190.50 8/31/2023 8/7/2023 64 :ACH Deposit 7,498.13 8/31/2023 8/9/2023 102 2,274.38 8/31/2023 8/10/2023 65 :ACH Deposit 8,748.67 8/31/2023 8/26/2023 66 :ACH Deposit 6,132.00 8/31/2023 8/28/2023 103 12,098.01 8/31/2023 8/30/2023 104 5,229.75 8/31/2023 Total Cleared Deposits 78,482.22 Cleared Other Items Date Tran # Notes Amount Date Cleared 8/1/2023 JE 8339 8/23 Loan Pmt -15,747.57 8/31/2023 8/1/2023 JE 8352 TRNSFR-08.01.23 20,000.00 8/31/2023 8/11/2023 JE 8389 TRNSFR- 08.11.23 100,000.00 8/31/2023 8/24/2023 JE 8420 TRNSFR-08.24.23 80,000.00 8/31/2023 8/31/2023 JE 8440 8/23 Bank Fee -65.18 8/31/2023 8/31/2023 JE 8446 TRNSFR-08.31.23 225,000.00 8/31/2023 Total Cleared Other Items 409,187.25 1201445606 Tollway-Operating 9/1/2023

8/31/2023 Posted by: sdobbs on 9/1/2023 27

Bank Reconciliation Report

PROPERTY MANAGEMENT & ACCOUNTING REPORTS

RENT ROLL

OWNER’S REPORT

RENT ROLL

SEPTEMBER 2023

KENNINGTON PROPERTY HOLDINGS

# Building Total SF Vacant Occupancy 27 Alpha Plaza 75,383 25,649 66% 30 Midway Centre 46,064 1,875 96% 35 Campbell Creative Center 96,991 12,054 88% 37 Placid 66,473 - 100% 44 Research 159,958 7,855 95% 46 Valley View 43,740 - 100% 49 Alpha Business Center 50,109 - 100% 50 Skyway Circle 62,028 - 100% 51 Jupiter Center North 43,680 - 100% 52 Jupiter Center South 82,805 - 100% 53 Waters Ridge Tech 2 33,346 - 100% 54 Waters Ridge Tech 3 75,087 15,457 79% 55 Bent Tree Place 57,602 8,131 86% PORTFOLIO 893,266 71,021 92.0%

PROPERTY MANAGEMENT & ACCOUNTING REPORTS

MANAGEMENT FEE CALCULATION

OWNER’S REPORT

Management Fee Register Summary

Property = KPH Management Fees (.kphfees)

= 08/01/2023

July

Property Revenue Rate FeeMonthMonth 027 -Alpha Plaza 92,632.684.0000003,705.3107-202308-2023 030 -Midway Center 63,497.624.0000002,539.9107-202308-2023 035 -Campbell 1 102,906.944.0000004,116.2807-202308-2023 037 -Placid 71,819.384.0000002,872.7807-202308-2023 044 -Research Center 180,570.464.0000007,222.8207-202308-2023 046 -Valley View Commerce C 67,518.764.0000002,700.7507-202308-2023 049 -Alpha Business Center76,265.894.0000003,050.6407-202308-2023 050 -Skyway Circle55,726.134.0000002,229.0507-202308-2023 051 -Jupiter Center North38,193.004.0000001,527.7207-202308-2023 052 -Jupiter Center South100,980.754.0000004,039.2307-202308-2023 053 -Waters Ridge Tech 253,576.254.0000002,143.0507-202308-2023 054 -Waters Ridge Tech 395,876.014.0000003,835.0407-202308-2023 055 -Tollway76,339.544.0000003,053.5807-202308-2023 Total1,075,903.4143,036.16

BillingManagementAs OfPost

Fee Date

As Of Month=

07/2023 to 07/2023

ASSET MANAGEMENT REPORTS

OWNER’S REPORT

ASSET MANAGEMENT REPORTS

KPH CASH FLOW SUMMARY

KPH Cash Flow Projections Summary

* Includes refinance activity to date and projected financins of Midway Center by August.

** Excludes 1031 funds remaining, if any.

As of: 9/25/2023 ACTUAL 2021 ACTUAL 2022 ACTUAL YTD 2023 FORECAST BALANCE 20232023 TOTAL Net Operating Income from Properties $ 6,181,836 $ 5,184,968 $ 2,301,525 $ 7,486,493 Debt Service / Lender Fees 3,290,394 2,283,652 1,567,050 3,850,702 Net Cash Flow after Debt Service 2,891,442 2,901,316 734,475 3,635,791 Capital Leasing-Related Capital 1,989,716 496,821 1,240,978 1,737,799 Building Capital 2,746,043 1,566,726 667,451 2,234,177 Total Capital 4,735,759 2,063,548 1,908,429 3,971,976 Less: Lender Proceeds, 1031 Escrow (Independent Bank Future Funding) & Reserves 0 (318,999) (1,522,580) (1,841,579) Net Cash Required for Capital 4,735,759 1,744,549 385,849 2,130,397 Net Cash Flow after Capital (1,844,317) 1,156,767 348,627 1,505,394 Non-Reimbursable R & M (15,911) 0 0 0 Construction & Leasing Admin (7,224) 0 0 0 Accounting, Marketing & General Admin (134,422) (45,627) (46,874) (92,501) Consulting Fees (281,223) (125,339) (113,792) (239,131) KFOC Expenses (66,511) (48,158) (50,042) (98,200) Asset Mgmt Fees (117,269) (67,086) (52,430) (119,516) Franchise Taxes 0 (75,702) 0 (75,702) Reinvestment of Portfolio Income in Portfolio (103,302) 0 0 0 Legal & Professional (139,829) (53,043) (17,500) (70,543) Other - Cash Adjustments (193,658) 0 0 0 Net Cash Flow from Operations $ (2,903,666) $ 741,811 $ 67,990 $ 809,801 Income from Investments (Cash) $ - $ - $ - $Line of Credit Proceeds / (Paydown) (14,253,410) - -Refinancing Proceeds and Loan Fees* 7,824,889 - 4,245,107 4,245,107 Escrowed Funds 419,610 - -Proceeds from Marketable Securities (Cash) 14,598,672 - -Acquisitions (8,408,430) - -Cash Deposits In/(Out) 381,814 - -Other Adjustments 387,199 157,991 - 157,991 Cash Invested (5) 4,340,836 - -Distributions & Other (8,435,745) (967,410) (621,895) (1,589,305) Net Cash Flow KPH $ (6,048,231) $ (67,608) $ 3,691,202 $ 3,623,594 Ending Cash Balance 6,625,820 $ $ 577,589 $ 509,981 $ 4,201,182 $ 4,201,182 Working Capital: (500,000) $ (500,000) $ (500,000) $ (500,000) $ Cash Available for Distributions / Future Investments / Capital** 6,625,820 $ 77,589 $ 9,981 $ 3,701,182 $ 3,701,182 $

ASSET MANAGEMENT REPORTS

CASH FLOW PROJECTIONS SUMMARY

SEE HANDOUT

KPH PORTFOLIO - CASH FLOW PROJECTION

CASH BASIS 2023

Actual Actual Actual Actual Actual Actual ActualProjectedProjectedProjectedProjected Report As of:9/25/2023 Property / Item Jan-23Feb-23Mar-23Apr-23May-23Jun-23Jul-23Aug-23Sep-23Oct-23Nov-23Dec-23Total 27 A pha Plaza 65,677118,08756,69675,17264,11965,81161,77570,42151,54851,07556,606 (44,598) 692,390 30Midway Center 41,15025,48144,01054,72854,11556,29940,27750,07850,44550,44550,915 (5,382) 512,560 35Campbell I 81,10824,54071,24672,77673,63481,81975,82485,37194,57094,57094,570 (44,331) 805,696 37Placid 48,41734,51759,57764,99642,09676,81946,36759,33359,83160,05260,052 (72,265) 539,792 44Kennington Research 138,84892,577107,297130,403125,991133,688111,089148,086148,390148,390152,857 (178,571) 1,259,046 46 Valley View and Valley View Land 48,63220,96750,60651,24752,50150,88545,68845,42045,89545,89544,995 (96,788) 405,944 49 A pha Business Center 56,63936,87261,58074,34651,34660,00153,01870,99171,18364,19471,263 (110,491) 560,941 50Skyway 75,84633,67033,53258,69735,23760,50232,64545,62645,62645,62645,985 (61,800) 451,191 51Jupiter Center North 25,63823,42726,47933,71727,90528,74127,68328,68628,68628,68628,686 (45,450) 262,881 52Jupiter Center South 81,66663,27364,20071,71764,28679,13064,54592,80392,80392,80393,816 (56,184) 804,858 53Waters Ridge Tech II 41,19730,57940,32232,62736,40242,19930,28046,45646,45646,45647,127 (61,023) 379,077 54Waters Ridge Tech III 71,30638,08875,17192,17770,16980,59338,44279,03479,19479,19479,194 (141,447) 641,116 55North Dallas Tollway 41,23932,99440,08040,849 (694) 44,34522,71050,17155,16655,26355,263 (82,808) 354,578 Non-Reimbursable Expenses 00 (36,716)(36,716)(36,716)(36,716)(36,716)(183,579) NOI Actual / Argus before D/S (1) (2) 817,363575,071730,798853,452697,107860,833650,343835,759833,077825,932844,613 (1,037,855) 7,486,493 5,184,968 Debt Service 0 Interest Expense 188,528189,419187,745188,480187,649183,992187,291186,213185,754185,384203,341218,9782,292,774 Amortization of Principal 125,742119,851130,000125,789126,113130,578126,476113,446113,826114,212120,825125,0711,471,928 Lender Proceeds / Financing Fees 086,000 086,000 Return of Lender Deposit 0 Total Financing Transactions 314,270309,270317,745314,270313,762400,570313,767299,659299,580299,596324,166344,0493,850,702 503,094265,801413,053539,183383,346460,263336,576536,100533,497526,336520,447(1,381,904)3,635,791 CAPITAL - (see detail) Tenant Improvements & Whitebox 60,487 080,47668,962 2,77518,70913,104379,600214,619100,000462,040 01,400,771 Leasing Commissions 4,700 1,48876,21574,03320,621 8,95766,296 2,321 025,00057,397 0337,028 Building Capital 214,84954,735186,999187,958468,745298,170155,27044,166239,952216,667166,667 02,234,177 Total Capital 280,03656,223343,690330,952492,141325,836234,670426,087454,571341,667686,104 03,971,976 Less: Lender Funded / Facilities/Escrow 0 0 (158,999) 0 (160,000) 00 (104,431) (271,566) (340,333) (333,333) (472,917) (1,841,579) Total Leasing, Building Capital 280,03656,223184,691330,952332,141325,836234,670321,657183,005 1,333352,770 (472,917) 2,130,397 Net Cash Flow after Capital and D/S 223,058209,578228,363208,230 51,204134,428101,907214,443350,493525,003167,676 (908,988) 1,505,394 NOI after Debt Service Page 1

(1) NOI based on Argus for Projections / Actual based on Yardi cash flow statements.

(2) Properpty taxes are on cash basis to be paid in December.

(3) Beg. Cash includes Operating Account but excludes Savings Account of $301,770 and excludes the investment accounts.

(4) Includes fees for closings and proceeds from projected refinancing of CCC and Alpha Plaza in 2022.

(5) Cash drawn from 1031 account for North Dallas Tollway acquisition in 2022.

(6) Estimate / Adjustment and intercompany items.

(7) Ties to Balance Sheet and excludes investment cash and savings account, escrow balances and 1031 Exchange.

(8) Based on Balance Sheet

Actual Actual Actual Actual Actual Actual ActualProjectedProjectedProjectedProjected Report As of:9/25/2023 Property / Item Jan-23Feb-23Mar-23Apr-23May-23Jun-23Jul-23Aug-23Sep-23Oct-23Nov-23Dec-23Total Overhead and Administrative Accounting, Marketing & General Admin (6,220) (9,375) (4,331) (3,233) (4,311) (4,180) (13,977) (9,375) (9,375) (9,375) (9,375) (9,375) (92,501) Consulting Fees (23,577) (22,758) (24,958) (10,869) (10,869) (15,388) (16,919) (22,758) (22,758) (22,758) (22,758) (22,758) (239,131) KFOC Expenses (3,753) (10,008) (8,321) (7,389) (10,869) (3,909) (3,909) (10,008) (10,008) (10,008) (10,008) (10,008) (98,200) Asset Mgmt Fees (9,935) (10,486) (10,233) (10,340) (4,152) (10,929) (11,011) (10,486) (10,486) (10,486) (10,486) (10,486) (119,516) Franchise Tax (75,702) (75,702) Legal & Professional (6,995) (3,500) (3,238) (7,923) (10,144) (7,685) (13,559) (3,500) (3,500) (3,500) (3,500) (3,500) (70,543) Other - - - - - - - - - - - 0 Net Cash Flow from Administrative (50,479) (56,127) (51,081) (39,755) (116,047) (42,091) (59,375) (56,127) (56,127) (56,127) (56,127) (56,127) (695,593) Net Cash Flow after Overhead 172,579153,451177,281168,476 (64,843) 92,33742,532158,315294,365468,875111,549 (965,115) 809,801 Cash Flow Adjustments Less: Non cash income0000000000000 Other Adjustments (15,285) 019,058 (38,955) (126,354) 374,377 (54,850) 00000 157,991 Total Cash Flow Adjustments (15,285) 019,058 (38,955) (126,354) 374,377 (54,850) 00000 157,991 Actual Cash Flow 157,294153,451196,339129,520(191,198)466,714(12,318)158,315294,365468,875111,549(965,115)967,792 Operating Account - Beginning Balance (3) 577,589610,503639,575702,777707,918304,343646,678509,9814,789,0244,959,0105,303,5075,290,676577,589 Actual Cash Flow for the Month 157,294153,451196,339129,520 (191,198) 466,714 (12,318) 158,315294,365468,875111,549 (965,115) 967,792 Line of Credit Proceeds / Paydown0000000000000 Loan Proceeds / Paydown (4) 00000004,245,10700004,245,107 Escrowed Funds 0000000000000 Proceeds from Marketable Securities (Cash) 0000000000000 Acqu stions 0000000000000 Sales Proceeds 0000000000000 Capital Contributions 000000000000 0 Cash Invested (5) 000000000000 0 Other Adjustments / Gain on Sale (6) 000000000000 0 Distributions (124,379) (124,379) (133,137) (124,379) (212,377) (124,379) (124,379) (124,379) (124,379) (124,379) (124,379) (124,379) (1,589,305) Operating - Ending Balance 610,503639,575702,777707,918304,343646,678509,9814,789,0244,959,0105,303,5075,290,6764,201,1824,201,182 Add Cumulative Inv. Account Cash (7) 0000000000000 Total Cash Available for Operations 610,503639,575702,777707,918304,343 646,678509,9814,789,0244,959,0105,303,5075,290,6764,201,1824,201,182 Investment Accounts Recap: Beg Bal: 2,445,483 2,636,000 2,636,000 2,636,000 2,636,000 2,571,370 2,571,370 2,571,370 2,571,370 2,571,370 2,571,370 2,571,370 2,445,483 Ending Balance (8) 2,636,0002,636,0002,636,0002,636,0002,636,0002,571,3702,571,3702,571,3702,571,3702,571,3702,571,3702,571,3702,445,483 Line of Credit - Monthly Balance 300,000300,000300,000300,000300,000300,000300,000300,000300,0005,640,422300,000300,000 300,000

KPH PORTFOLIO - CASH FLOW PROJECTION CASH BASIS 2023

Page 2

ASSET MANAGEMENT REPORTS

LEASING REPORTS

OWNER’S REPORT

BRADFORD RETAIL

OWNER’S REPORT

AL PH A PL AZA

4885 & 4887 ALPHA ROAD, FARMERS BRANCH, TX 75244

4885-120 2,376 SF 20232024 2025 2026 2027 2028 2029 VACANT SUITE 275- 4,800 RSF LEASED SUITE 270- 4,000 RSF LIVE ARTS CONSERVATORY 12/31/2025 LEASED SUITE 100 - 4,999 RSF EURO LIVING 11/30/2025 LEASED SUITE 125- 3,600 RSF BELLA BRA SHOP 4/4/2027 LEASED SUITE 155- 4,875 RSF GOWNS OF GRACE 8/31/2025 LEASED SUITE 205- 6,600 RSF MANACARE 8/31/2023 LEASED SUITE 210- 6,300 RSF DAVID DIKE FINE ART 4/30/2029 LEASED SUITE 250- 5,040 RSF GAME SHOW BATTLE 3/31/2027 VACANT SUITE 240 3,360 RSF LEASED SUITE 220- 3,880 RSF MANACARE 8/31/2023 VACANT SUITE 260- 4,183 RSF VACANT SUITE 280 1,618 RSF LEASED SUITE 200- 3,340 RSF JUDY NORDSETH 7/31/2026 LEASED SUITE 195- 1,875 RSF WINDOW SEASON 9/30/2024 LEASED SUITE 2902,772 RSF CANTERA DOORS 5/31/2024 LEASED SUITE 2952,696 RSF ALEXANDER OTIS 5/31/2026 LEASED SUITE 285- 2,177 RSF AUSSIE GRIND 3/31/2028 LEASED SUITE 2881,928 RSF KITCHEN SOCIAL 6/30/2028 VACANT SUITE 110 2,383 RSF VACANT SUITE 120- 2,376 RSF LEASED SUITE 115- 2,542 RSF URBAN SPIKES 10/31/2025

VACANT

MID WA Y CEN TER

14430 MIDWAY ROAD, FARMERS BRANCH, TX 75244

2026 2027 2028 2029

LEASED SUITE 14472/74- 5,042 RSF BALEY’S BRIDAL 1/31/2027 LEASED SUITE 14476- 2,938 RSF A-ONE ENGRAVING 3/31/2028 LEASED SUITE 14430 - 3,885 RSF SIGNARAMA 8/31/2026 LEASED SUITE 14436 - 3,934 RSF WEG’S GUNS 10/31/2026 LEASED SUITE 14444 - 1,950 RSF MIMI’S UPHOLSTERY 4/30/2025 LEASED SUITE 14442 - 1,950 RSF OVERTON FAMILY JEWELS 11/30/2027 LEASED SUITE 14440 - 1,950 RSF VERTICON CONSTRUCTION 4/30/2027 LEASED SUITE 14438 - 1,950 RSF BREAKING BREW MEADERY MTM LEASED SUITE 144483,750 RSF HERITAGE HOUSE CLOCKS 3/31/2027 LEASED SUITE 14456 - 3,750 RSF ROCK A SNAP 2/28/2028 LEASED SUITE 144682,300 RSF MMB STRATEGY 5/31/2026 LEASED SUITE 14446 - 1,875 RSF EDIBLE ARRANGEMENTS 10/31/2027 LEASED SUITE 14454 - 1,875 RSF CHIOMA 9/30/2027 LEASED SUITE 14452 - 1,859 RSF AMY’S STUDIO 10/31/2025 LEASED SUITE 14460 - 1,875 RSF VALENCIA THEATER SEATING 2026 AVAILABLE SUITE 144641,875 RSF LEASED SUITE 14462 - 1,875 RSF WALLPAPER PLACE 11/30/2027 LEASED SUITE 14468 - 1,450RSF AAT FINANCIAL 2/28/2025

20232025

VACANT

BRADFORD FLEX

OWNER’S REPORT

AL PHA BU SINESS CEN TER

4300 & 4350 ALPHA ROAD, FARMERS BRANCH, TX 75244

20242025 2026 2027 2031 2033 VACANT LEASED SUITE 1-100- 6,944 RSF ADAPT STRENGTH 4/30/2025 LEASED SUITE 2-200- 9,800 RSF ACCESS HEALTHCARE 9/30/2025 LEASED SUITE 3-100- 3,581 RSF ALPHA LOCK SECURITY 4/30/2024 LEASED SUITE 3-110- 3,262 RSF SHARI’S MANAGEMENT 9/30/2025 LEASED SUITE 3-120- 1/31/2024 RSF COMPRO COMPUTER 1/31/2024 LEASED SUITE 3-130- 2,996 RSF ALLIED BIOSCIENCE 1/31/2024 LEASED SUITE 2-230- 4,486 RSF PROTECTION NETWORKS 4/30/2027 LEASED SUITE 2-210- 2,910 RSF TWO RIVERS VENTURES 1/31/2026 LEASED SUITE 1-115- 5,981 RSF AIRWAY TECHNOLOGIES 8/31/2031 LEASED SUITE 1-130- 4,313 RSF TWO RIVERS VENTURES 1/31/2026 43

VALLEY VIE W

1861 VALLEY VIEW

75061 LEASED SUITE 100 - 19,200 RSF TEXAS

LANE, IRVING, TX

20232024 2025 2026 2027 2028

VACANT

PROGRAMS

ALERNATIVE EDUCATION 8/31/2024

DISH NETWORK 4/31/2024 LEASED SUITE 1807,740 RSF ESSENTIAL FORMULAS 11/30/2028 LEASED SUITE 1406,936 RSF ASURION 10/31/2026

FOR

LEASED SUITE 150 - 9,864 RSF

BRADFORD OFFICE

OWNER’S REPORT

CCC - CAMPBELL

1200/1210 CAMPBELL ROAD, RICHARDSON, TX 75081

LEASED

SUITE 110 - 10,370 RSF

BRAZEN ANIMATION 10/31/2030

LEASED

SUITE 108 - 25,437 RSF

PNC BANK

5/31/2025

AVAILABLE

SUITE 120 - 4,660 RSF

LEASED

SUITE 130 - 6,168 RSF

SEEBOOST/EVEGLAZE LLC

1/31/2027

20252026 2027 2028 2030 2031 VACANT

CCC - DIGITAL

1217/1219

LEASED SUITE 100 - 13,858 RSF TALLEY-RIGGINS CONSTRUCTION 6/30/2028 AVAILABLE SUITE 130 - 7,354 RSF LEASED SUITE 160 - 6,746 RSF ELECTION SYSTEMS & SOFTWARE 12/31/2026 LEASED SUITE 150 - 4,446 RSF GET CLEAN SERVICES 1/31/2026 LEASED SUITE 130 - 3,891 RSF SYNERGY SOLUTIONS 7/31/2026 LEASED SUITE 110 - 2,992 RSF DIRECT LINE GLOBAL 12/31/2027 LEASED SUITE 100 - 4,465 RSF TXS INDUSTRIAL DESIGN 6/30/2026 LEASED SUITE 140 - 2,993 RSF VERSAR, INC. 11/30/2027 LEASED SUITE 120 - 3,591 RSF PRELOAD, LLC 4/30/2026 20252026 2027 2028 2030 2031 VACANT

DIGITAL DRIVE,

RICHARDSON, TX 75081

J UP ITER

2100, 2200, & 2201 10TH STREET AND 1009 JUPITER ROARD, PLANO, TX 75074 20242027 2029 2030 2031 2032 VACANT LEASED SUITE 4100 - 43,680 RSF ENSEO 6/30/2027 LEASED SUITE 1100 33,460 RSF GLOBAL IP 10/31/2030 LEASED SUITE 2300 7,920 RSF VECTOR CONTROLS 5/31/2024 LEASED SUITE 2100 7,345 RSF FORTRESS SOLU. 10/31/2027 LEASED SUITE 3100 - 34,080 RSF FORTRESS SOLUTIONS 10/31/2029

P LAC ID

1200 PLACID AVENUE, PLANO, TX 75074

LEASED SUITE 100 - 10,008 RSF RACKMOUNT 7/31/2027 LEASED SUITE 800- 12,632 RSF BRINKS 12/31/2026 LEASED SUITE 6007,136 RSF M4 SPECIALTY 12/31/2026 LEASED SUITE 5505,024 RSF C&W SPECIALISTS 8/31/2026 LEASED SUITE 5007,680 RSF TNT SPA MOVERS 8/31/2027 LEASED SUITE 4004,800 RSF EXTRAVAGANZA 12/31/2025 LEASED SUITE 3007,200 RSF HISCO 9/30/2025 LEASED SUITE 2004,800 RSF PLANO DATA 7/31/2025 LEASED SUITE 7007,193 RSF MIDLAND TOWER 2/29/2028

20252026 2027 2028 2029 2030 VACANT

RE S EA RCH CEN TER

20232024 2025 2026 2027 2028 2029 2030 LEASED SUITE 5100 - 38,180 RSF KCW ENTERPRISES 6/30/2025 LEASED SUITE 2100 - 6,957 RSF TERMINIX 3/31/2023 LEASED SUITE 2150 - 7,453 RSF ABLE AUTO 1/31/2023 LEASED SUITE 2300 - 8,924 RSF ADAPTIVE 3D 7/31/2024 LEASED SUITE 3120 - 15,479 RSF AXCENT NETWORKS 8/31/2026 LEASED SUITE 3100 7,855 RSF HORIZON OXYGEN 2028 LEASED SUITE 1300 - 45,422 RSF NEXREV INC. 10/31/2027 LEASED SUITE 4400 - 9,204 RSF NIMBLETRONICS 6/30/2025 LEASED SUITE 4200 - 10,248 RSF REMEDI SENIORCARE 3/31/2026 LEASED SUITE 4100 - 5,827 RSF CMC NETWORK 4/3.0/2029 LEASED SUITE 4125 4,409 RSF CALGAR ENTERPRISES 5/31/2026

600, 601, 608 DE VEL OPMENT DR IVE & 2600/2700 RESEARC H D RIVE, PLAN O, TX 7507 4 VACANT

WATERS RIDGE II

1965 LAKEPOINTE DRIVE, LEWISEVILLE, TX 75057

LEASED

SUITE 200- 11,194 RSF

HOYA OPTICAL LABS 10/31/2025

LEASED

SUITE 100- 22,152 RSF

HORIZON HEALTH CORPORATION

7/31/2024

20242025 2026 2027 2028 2029 VACANT

WATER S R IDG E II I

1825 LAKEWAY DRIVE, LEWISVILLE, TX 75057

LEASED

SUITE 300

OCCUSYSTEMS

NEW SPACE

10,386 RSF

LEASED

SUITE 200 - 5,783 RSF

OCCUSYSTEMS

12/31/2023

LEASED

SUITE 100

6,300 RSF

CARDINAL TRACKING

8/31/2024

LEASED

SUITE 400 - 15,814 RSF K12 VIRTUAL SCHOOLS

6/30/2025

LEASED

SUITE 500 - 12,344 RSF FORD MOTOR

11/30/2025

LEASED

SUITE 700 - 19,389 RSF

ALLEGIANCE TRUCKING

5/31/2025

VACANT

SUITE 800

5,071 RSF

20232024 2025 2026 2027 2028 VACANT

THIRTY-FOUR COMMERCIAL OFFICE LEASING

OWNER’S REPORT

LEASED SUITE 105 - 4,772 RSF MINIMALLY INVASIVE 11/30/2027 LEASED SUITE 100 - 6,110 RSF BENT TREE FAMILY PHYSICIANS 4/30/2026 LEASED SUITE 100 - 2,298 RSF DR. WALLACE 4/30/2025 LEASED SUITE 110 - 2,432 RSF DR. WALLACE 4/30/2025 AVAILABLE SUITE 120 - 1,298 RSF PRESTIGIE INSURANCE 1/31/2027 LEASED SUITE 125 - 495 RSF EVANTELL 6/30/2027 LEASED SUITE 130 - 1,213 RSF AURORA INSURANCE 9/30/2024 LEASED SUITE 140 - 3,590 RSF EVANTELL 6/30/2027 LEASED SUITE 180 - 2,660 RSF ALL CARE 8/31/2031 LEASED SUITE 100 - 1,240 RSF DR. WALLACE 4/30/2025 AVAILABLE SUITE 150 1,984 RSF 17 110 DALLAS

17110 N DALLAS PARKWAY,

TX 75248 FIRST FLOOR EXPIRATIONS Lorem ipsum 20232024 2025 2026 2027 2031 VACANT 2030 2031 54

PKWY

DALLAS,

17110 D A LL AS PKWY

LEASED SUITE 206 - 1,978 RSF JAMESON & POWERS 9/30/2025 LEASED SUITE 208 - 1,325 RSF JAMESON & POWERS 9/30/2025 LEASED SUITE 210 - 1,715 RSF FLAGG LAW 9/30/2025 LEASED SUITE 212 & 214 - 4,305 RSF BOHACH LAW 6/30/2024 LEASED SUITE 220 - 4,118 RSF WORKSHOP STUDIOS 11/30/2030 LEASED SUITE 222 - 876 RSF MARK FUGIT 2/28/2025 LEASED SUITE 230 - 2,627 RSF P.R.E.A.C.H. 2/29/2024 LEASED SUITE 290 - 2,750 RSF RAY LEVY & ASSOCIATES 6/30/2027 LEASED SUITE 286 - 1,178 RSF LIBERTY TEXAS MED-LEGAL 9/30/2026 LEASED SUITE 200 1,031 RSF JEFFERSON PHYSICIANS 4/30/2026 LEASED SUITE 280 - 1,942 RSF FIRST FINANCIAL 10/31/2024 LEASED SUITE 284 - 746 RSF ROARING LAMBS 8/31/2031 LEASED SUITE 201 - 1,278 RSF NATHAN RESEARCH INC. 9/30/2025 AVAILABLE SUITE 205 1,372 RSF

N DALLAS PARKWAY, DALLAS, TX 75248 SECOND FLOOR EXPIRATIONS MECH MECH MECH AVAILABLE SUITE 215 2,269 RSF Lorem ipsum 20232024 2025 2026 2027 2031 VACANT 2030 2031 55

17110

ASSET MANAGEMENT REPORTS

CONSTRUCTION/ TENANT IMPROVEMENTS

OWNER’S REPORT

Kennington Alpha Center, LLC

Construction Active TI Projects

#285-2 Aussie Grind

Develop IncProject: #285-2 Aussie Grind

GC: TBD

Develop Inc

5,728

TI Allowance: $71,198.19

SF: 1,887

TI Allowance: $71,198.19

Kennington Alpha Center, LLC

Construction Active TI Projects

Project: #285/288 LL Work

GC: Develop Inc

SF: 5,728

Cost: $180,000.00

Cost/SF: $31.45

1 59

Kennington Campbell Creative Center, LLC

Construction Active TI Projects

Property: 35- CCC

Suite: 100

Tenant: Talley Riggins

Project: Expansion Suite #3

SF: 3,872

GC: Talley Riggins

TI Allowance: $ 189,921.60

TI/SF: $49.05

LOUNGE 139 OFFICE 141 OFFICE 142 OFFICE 143 OFFICE 144 OFFICE 145 OFFICE 146 MIC. REF MIC. REF OFFICE 147 OFFICE 148 4'-1 1/4" 12'-9 1/2" 4'-0" OFFICE 140 5'-4" 5'-37/8" 8'-6" 7'-8" 16'-91/2" 5'-4" ELECTRICAL

Kennington Research Center, LLC Construction Active TI Projects

Property: 44 Research

Project: Horizon Oxygen LL Work

Suite: Bldg.6 #100

GC: Lonestar

$153,217.00

Cost: $29,663.00

SF: 7,855

Cost/SF: $3.78

$19.50/SF

OVERHEADDOOR OVERHEADDOOR CONSTRUCTION/FINISH/POWER/COMMUNICATIONSPLANANDNOTES +44" +44" +102" +48" +48" JJ JJ JJ JJ +36" 220V 115V MIN FIRECONTROL ROOM TYP TYP TYP TYP TYP TYP

Bent Tree Place

re Remediation - Buildin Capital Improvement- Exterior Improvements

Front Facade, Monument Sign, Feature Wall

Property: 55-BTP

Cost: $ 411,813.98

PROPOSEDEXTERIORENTRANCEFACADE VIEWFROMPARKINGLOT

PROPOSEDFEATUREWALL VIEWFROMDALLASPARKWAY GC: Preston Pierce

Bent Tree Place

re Remediation - Buildin

Capital Improvement- Exterior Improvements

Front Facade, Monument Sign, Feature Wall

option 2

BENTTREE PLACE

Lobby- furniture option1

cushioned bench and planter

bold colors

17110 N. Dallas – Tollway

Bent Tree Place

Fire Remediation- Suite 110

Lobby Upgrade Design

framed moss wall existing lighting

rniture 17110 N. Dallas – Tollway Fire Remediation- Suite 110 Bent Tree Place Lobby Upgrade Design

Fusion

32”)

12 NationalSavannahMarshMadness Wallcovering to extend to second level stools worktable

Moss

(32” x

Qty:

sofa coffee table 65

accent chairs side table

110 N. Dallas – Tollway Bent Tree Place obby Upgrade Desig Restroom Lighting 66

Bent Tree Place

Fire Remediation - Building

BENTTREEFAMILYPHYSICIANS 6,110RSF

SUITE105 MINIMALLYINVASIVE 4,772RSF

DR.SUITE100 1,240WALLACE RSF

DR.SUITE100 2,298WALLACE RSF

110 432WALLACE RSF

Fire Remediation

SUITE130 AURORAINSURAN 1,213RSF 495RSFSUITE120 FCMORTGAGE 1,298RSF

Ceiling Tile Replacement &HVAC Duct Replacement

Painting

Fire Remediation

DR.SUITE110 2,432WALLACE RSF

SUITE125 LIGHTHEADED 495RSFSUITE120 FCMORTGAGE 1,298RSF

Fire Remediation

SUITE105 MINIMALLYINVASIVE 4,772RSF

DR.SUITE100 1,240WALLACE RSF

SUITE180SUITE160

SUITE140

SUITE130 AURORAINSURAN 1,213RSF

MECH MECH MECH MECH MECH

MECH MECH MECH MECH MECH MECH MECH

SUITE180SUITE160

SUITE140

Bent Tree Place

Bent Tree Place #220

Suite: 220 Project: Workshop

GC: Preston Pierce

SF: 3,300

Cost: $165,000.00

4,118 $205,900.00

Cost/SF: $50.00

SF: 3,300 Cost: $165,000.00 Cost/SF: $50.00

Project: Spec Suite 160

SF: 1,984

Target Cost/SF: $50.00

Target Cost: $99,200.00

Status: Preliminary Bids

Bent Tree Place

Bent Tree Place #220 Spec Suite #160

Fire

Pending Leasing at Suite #212

Value Engineering/Obtaining Revised Pricing

BREAK

tv fullht. cab. feature/logowall optional/future wall ref. BREAK/ OPEN OFFICE 25'-3"X 19'-0" OFFICE2 10'-0"X14'-6" OFFICE3 9'-6"X14'-6" CONF. 13'-6"X 19'-0" pendants (alternate) tv fullht. cab. feature/logowall optional/future wall ref. OFFICE1 9'-0"X14'-6" OFFICE2 10'-0"X14'-6" OFFICE3 9'-6"X14'-6" CONF. 13'-6"X 19'-0" ENTRY 18'-0"X 14'-6" OPTIONAL FUTURE OFFICE 9'-0"X 13'-3" OPTIONAL WORK/ STOR. 7'-0"X 13'-3" BREAK 8'-3"X 13'-3" ©2022TheidGROUP,LLC SPECSUITE160-OPTION1 *NOTFORCONSTRUCTION *ROOMSIZESAREAPPROXIMATE *APPLIANCESANDEQUIPMENTSHOWNAREFOR GRAPHICPURPOSESONLY *TENANTTOCONFIRMFURNITUREWILLFITWITHIN PROPOSEDPLAN *PLANPROVIDEDFORGRAPHICPURPOSESONLY *THEidGROUPHASNOTFIELDVERIFIEDFLOOR *PLANPENDINGCITYAPPROVAL SPACEPLAN#1.0SUITE#160XXXRSF11-30-2022 17110DALLASPARKWAY,DALLASTX75248 BENTTREEPLACE ExistingWall NewWall PROJECTNO:680-001 DRAWNBY:SO

N. Dallas – Toll

17110

Remediation- Suite Bent Tree

Place #220#160

OFFICE 2 OFFICE 3 OFFICE 1 CONFERENCE ENTRY BREAK OPEN OFFICE WALL PAINT CARPET BASE AND UPPER CABINETS BREAK ROOM COUNTERTOPS & TRIM

LVT

PATTERN) FLOORPLAN PLASTIC LAMINATE PER COUNTERTOPS PLASTIC LAMINATE

GENERAL

(HERRINGBONE

ROOM

BACKSPLASH

ASSET MANAGEMENT REPORTS

ADDITIONAL REPORTS

OWNER’S REPORT

JP Morgan Investment Account

Account 4/25/22 6/21/22 10/26/22 7/25/23 8/27/23 Change US Government Money Market Fund 4,376,494 4,376,494 Investment Grade Corporate Bonds 8,642,652 8,515,437 2,432,700 2,575,666 2,523,037 (52,629) Preferred Stocks 4,361,546 Upper Tier High Yield 1,618,004 TOTAL 14,622,202 8,515,437 2,432,700 2,575,666 6,899,531 (43,562) Loan Balance 11,870,848 5,802,556 300,000 300,000 300,000Equity 2,751,354 2,712,881 2,132,700 2,275,666 6,599,531 (43,562) Availability - 1,407,337 1,595,989 1,600,000 1,600,000 (35,719) Advance Rate 81.2% 84.7% 77.9% 73.8% 27.5% 4/25/22 6/21/22 10/26/22 8/27/23 Purchase Yield Purchase Yield Purchase Yield Purchase Yield $'s US Government Money Market Fund 5.13 224,514 Investment Grade Corporate Bonds 3.02 3.04 2.71 68,374 Preferred Stocks Upper Tier High Yield Average 3.02 3.04 4.25 292,888 Line of Credit (1.69) (2.55) (4.12) (6.61) (19,830) Annual Arbitrage 0.47 (1.08) (2.36) 273,058 71

JP Morgan Investment Account

Account 4/25/22 6/21/22 10/26/22 7/25/23 8/27/23 9/25/23 Change US Government Money Market Fund 4,376,494 4,389,748 13,254 Investment Grade Corporate Bonds 8,642,652 8,515,437 2,432,700 2,575,666 2,177,156 2,164,693 (12,463) Preferred Stocks 4,361,546 Upper Tier High Yield 1,618,004 TOTAL 14,622,202 8,515,437 2,432,700 2,575,666 6,553,650 6,554,441 (43,562) Loan Balance 11,870,848 5,802,556 300,000 300,000 300,000 300,000Equity 2,751,354 2,712,881 2,132,700 2,275,666 6,253,650 6,254,441 (43,562) Availability - 1,407,337 1,595,989 1,600,000 1,600,000 1,600,000 (35,719) Advance Rate 81.2% 84.7% 77.9% 73.8% 29.0% 29.0% 4/25/22 6/21/22 10/26/22 8/27/23 Purchase Yield Purchase Yield Purchase Yield Purchase Yield $'s US Government Money Market Fund 5.13 5.13 224,514 Investment Grade Corporate Bonds 3.02 3.04 2.71 2.71 59,001 Preferred Stocks Upper Tier High Yield Average 3.02 3.04 4.33 4.33 283,515 Line of Credit (1.69) (2.55) (4.12) (6.61) (6.60) (19,830) Annual Arbitrage 0.47 (1.08) (2.28) (2.27) 263,685 72

OLD BUSINESS ASSET MANAGEMENT REPORTS

OWNER’S REPORT

A.

WOW VALLEY VIEW REFI CLOSING CHECKLIST

LOAN CLOSING CHECKLIST

WOODMEN OF THE WORLD LIFE INSURANCE SOCIETY Mortgage Loan Commitment No. 3689, being a refi of ML3091 to KENNINGTON VALLEY VIEW LLC Valley

B.

C.

LOAN CLOSING CHECKLIST

DOCS/1911525.1

as of Target Closing Date: ; Commitment Expires: November 21,

Status Responsible Party Deliver To: Comments:

View Commerce Center Farmers Branch, Texas

2023

LOAN COMMITMENT

Loan Application Completed Loan Correspondent Lender

Lender Acceptance Completed Lender Loan Correspondent

Loan Commitment Fee

Received Borrower Lender 4. Good Faith Deposit ($5,000) Received Borrower Lender

($22,000)

ORGANIZATIONAL DOCUMENTS

Borrower

Loan Correspondent Lender's Counsel

W-9

Borrower

Borrower's Counsel Lender's Counsel

Borrower

Borrower's Counsel Lender's Counsel

Borrower Operating

Borrower's Counsel Lender's Counsel

Certificate of Good Standing in State

Texas

Articles of Organization

Agreement

Kennington

in Texas Borrower's Counsel Lender's Counsel

Property Holdings, Ltd. (“Holdings”) Certificate of Good Standing

Holdings Certificate of Limited Partnership Borrower's Counsel Lender's Counsel

Holdings

Partnership Agreement Borrower's Counsel Lender's Counsel

Limited

Borrower's Counsel Lender's Counsel If still GP of Holdings

DKLLC Articles of Organization Borrower's Counsel Lender's Counsel

DKLLC Operating Agreement Borrower's Counsel Lender's Counsel

8. Dave Kennington, LLC (“DKLLC”) Certificate of Good Standing in Texas

10.

LOAN DOCUMENTS

Amended

Lender's Counsel Borrower's Counsel

and Restated Promissory Note

2. Amended and Restated Deed of Trust

3. UCC-1 Financing Statement for filing in the office of the Secretary of State of Texas

4. Rent Roll Certificate

5. Assignment of Property Management Contract

6. Survey Affidavit

7. Certificate of GP of Holdings as sole member of Borrower

8. Consent of GP of Holding as sole member of Borrower to enter into Loan Documents

Counsel

1. Opinion of Borrower's Counsel

2. Borrower Certificates Referred to in BC Opinion (if any)

1. Copy of Leases

2. Tenant Estoppel Certificate from tenants not currently on file

3. Tenant SNDA with tenants occupying 9,000 sq ft or more

2. MAI Appraisal

3. Copy of Written Property Management Agreement

4. Evidence of Borrower's Required Insurance Coverages

1. Title Commitment

Status Responsible Party Deliver To: Comments: Page 2 of LOAN

CLOSING CHECKLIST DOCS/1911525.1

Lender's

Borrower's Counsel

Counsel

Lender's

Borrower's Counsel To be

filed at closing if existing UCC1 has expired

Lender's

Borrower's Counsel

Counsel

Lender's Counsel Borrower's Counsel

loan

Only needed in new property manager since closing of existing

Lender's Counsel Borrower's Counsel

Lender's

Borrower's Counsel

Counsel

Borrower's

Lender's Counsel

Counsel

D. OPINIONS

Borrower's

Lender's Counsel

Counsel

Borrower's

Lender's Counsel

Counsel

E. LEASE DOCUMENTATION

Borrower's Counsel Lender's Counsel

Borrower's

Lender's Counsel

Counsel

Borrower's

Lender's Counsel

Loan

Lender

Borrower Loan

Lender Restricted appraisal with

Counsel

ROPERTY REPORTS,

TC. 1. Project Photos Received

Correspondent

Correspondent, for delivery to

minimum value $4,400,000

Borrower Lender's

Counsel If new manager since closing of existing loan

Borrower Loan

Lender Lender

Servicer, for delivery to

to confirm existing insurance is acceptable

ITLE AND SURVEY

OCUMENTS

Title Agent Lender's Counsel 75

2. Copies of new Exceptions to Title Title Agent Lender's Counsel

3. Pro-Forma Policy Title Agent Lender's Counsel

4. UCC Searches Lender's Counsel N/A Search names of Borrower

H. CLOSING DOCUMENTS

1. Escrow Closing Instructions Lender's Counsel Escrow Agent, with a copy to Borrower's Counsel

2. Insured Closing Letter Escrow Agent Borrower's Counsel Not required if Escrow Agent is the exact same entity as underwriter under lender's title policy.

3. Escrow Account Wiring Instructions Escrow Agent Lender, with a copy to Lender's Counsel

4. Net Wire Calculation Lender Escrow Agent, with a copy to Lender's Counsel

5. Loan Disbursement Statement Escrow Agent Lender's Counsel, Borrower's Counsel, and Loan Servicer

Status Responsible Party Deliver To: Comments:

Page 3 of LOAN CLOSING CHECKLIST DOCS/1911525.1

BTP RENT ROLL

NOV 2022 - SEPTEMBER 2023

KEY new leases and/or renewals/ expansions

UNIT REFERENCE NUMBER OCCUPANT NAME MONTHLY RENT SQUARE FEET NOTES 055 - 100 Bent Tree Family Physicians 6,364.58 6,110 Renewed - 42 Months $12.50NNN with $0.50 annual bumps 055 - 100S, 110, 110S Charles A. Wallace, M.D. 9,204.00 5,970 Renewed - Per Lease 18 Months $18.50 +E 055 - 105 Minimally Invasive Vascular Centers, LLC 8,351.00 4,772 Lease expires 8/31/2027 055 - 120 Prestigie Insurance 1,568.42 1,298 New Lease - 39 Months $14.50 NNN with $0.50 annual bumps; LL Paint 055 - 125, 140 EvanTell, Inc. 6,070.83 4,085 Renewed and Expanded - 38 Months $13.00 NNN with $0.50 annual bumps 055 - 130 Aurora Insurance Services, L.P. 2,122.75 1,213 Lease expires 9/30/2024 055 - 150 VACANT 0.00 1,984 Spec Suite in the works - waiting on MEPs 055 - 180 All Care Foot & Ankle, LLC 4,322.50 2,660 Lease expires 9/1/2030 055 - 200 Jefferson Physician Group, P.A. 1,073.96 1,031 Renewed - 42 Months $12.50NNN with $0.50 annual bumps 055 - 201 Nathan Research, Inc. 1,437.75 1,278 Renewed - 37 Months $13.00 NNN with $0.50 annual bumps 055 - 205 VACANT 0.00 1,372 Evantell looking to expand - $13.00 NNN with $0.50 annual bumps; Coterminus; AS IS 055 - 206, 208 Jameson & Powers, P.C. 4,816.87 3,303 Lease expires 9/30/2025 055 - 210 Flagg Law Group, P.C. 2,716.00 1,715 Lease expires 9/30/2025 055 - 212 Bohach Law Group, P.C. 6,960.00 4,305 Lease expires 6/30/2024 055 - 215 VACANT 0.00 2,299 055 - 220 Workshop Studio, LLC 4,125.00 4,088 Renewed and Expanded - 52 Months $15.00 NNN with $0.50 annual bumps 055 - 222 Mark Fugit 1,425.00 876 Lease expires 2/28/2025 055 - 230 Ramesh Richard Evangelism and Church Health 3,283.75 2,627 Lease expires 2/28/2024 055 - 280 First Financial Center, Inc. 3,075.00 1,942 Lease expires 10/31/2024 055 - 284 ACCR, a Texas non-profit organization 1,100.00 746 Lease expires 8/31/2031 055 - 286 Liberty Texas Med-Legal 1,374.33 1,178 New Lease - 36 Months $14.00 NNN with $0.50 annual bumps; AS IS 055 - 290 Ray Levy PhD PC and Associates 4,239.58 2,750 Lease expires 6/30/2027 Total Square Footage 57,602 Total Occupied 53,319 Total Vacant 4,283 OCCUPANCY 93%