May 7, 2009

Mr. Steve Rappaport

Senior Director
SINVIN
170 Varick St.
New York, NY 10013

RE: 159 Prince St, New York, NY

Ground Floor retail

Dear Steve:
Farinella has authorized Assurance Realty Group, L.L.C. to submit the following
offer to lease space in the above referenced property. The terms and conditions
are as follows:

Tenant: Farinella-Italian Bakery, Pizza, and Panini

90 Worth St.
New York, NY 10013
www.farinellabakery.com

Premises: Approximately +/- 650 rentable square feet on the Ground floor and 200
square feet in the basement.

Occupancy: June 1, 2009

Lease Term: 15 years

Rental Abatement: The first 2 months free and the next 4 months will be at 50% of
base rent.

Rental Rate: Year 1 - $8,300 a month to include all taxes, water, and operating
expenses.

Electric-Direct

Escalations: 3% per annum.

Right to Sublease
Or Assign: Tenant shall have the right to sublease or assign all or any portion of
tenant’s premises during the initial or extended lease term to any sub-tenant
(including, but not limited to a wholly owned subsidiary) of a type and quality
suitable for a comparable office building with Landlord’s reasonable consent. Such
consent shall not reasonably be withheld or delayed.

Security Deposit: Three months security deposit with good guy guarantee, giving 5
months notice if good guy is implemented.

Access: Tenant shall have access 24 hours per day, 7 days per week, 52 weeks per
year to the premises.

NOTES:
This will be their second location. See NY Magazine
At http://nymag.com/daily/food/2009/02/farinella.html and the Village Voice at
http://www.villagevoice.com/locations/farinella-1065856/
They will be cooking from the Worth St. location, so no cooking will be done at
the Prince St. Location.

One of the Owners is Howard Estrin, who also owns

I.J. Peiser’s Sons Inc. Flooring Contractors in business over 100 years.
www.http://www.ijpeiser.com/
Howard will sign a good guy guarantee for the space. We will provide financials
tomorrow, which should provide a more than adequate comfort level.

Real Estate Commission: Assurance Realty Group, L.L.C. (“Assurance”) has been
authorized by Tenant to act as its real estate representative. Assurance will be
compensated on the basis of a full market real estate commission paid by the Owner
of the property pursuant to terms and conditions of a separate agreement between
Owner and Assurance, which shall be executed prior to the execution of the lease
documents.

Disclaimer: The terms outlined herein, are not all-inclusive, but comprise a
summary of the general business terms. Other terms which are not included are to
be negotiated. The parties mutually intend that neither shall have any binding
contractual obligations to the other with respect to the matters referenced
herein, unless and until a formal written lease or amendment has been prepared
with adequate opportunity to be reviewed by legal counsel or either party’s
authorized representative, and has been fully executed and delivered by the
parties.
Please do not hesitate to contact me with any questions or comments at 973-642-
4000. We look forward to your response, and as always, look forward to working
with you to complete this transaction. Thank you for your consideration.

Sincerely,
Steven N. Muller
Senior Vice President
Steven N. Muller
Senior Real Estate Advisor
Assurance Realty Group L.L.C.
1 Washington Park
Newark, NJ 07102
Tel: 973-642-4000x104
Fax: 973-642-4004
Cell: 917-750-9787
SMuller@Assurerg.com
http://www.AssuranceRealtyGroup.com
Corporate Real Estate Brokerage, Advisory Services, and Title Services