This Note is subject to that certain Subordination Agreement dated January 19,
1999, as amended, between Capital Senior Living Properties, Inc. and Key
Corporate Capital, Inc.
AMENDED AND RESTATED DRAW PROMISSORY NOTE
(Plano)
Amount: $3,725,000 Date: January 15, 1999
------------- -------------------
FOR VALUE RECEIVED, the undersigned, promises to pay to Capital Senior
Living Properties, Inc., a Texas corporation, the sum draw down up to Three
Million Seven Hundred Twenty-Five Thousand and No/100 Dollars ($3,725,000.00),
the principal due five (5) years from the date of the first draw down and
interest due quarterly at the rate of ten and one-half percent (10.5%) per
annum, both principal and interest payable at office at 00000 Xxxxxx Xxxxxxx,
Xxxxx 000, Xxxxxx, Xxxxx 00000.
This note amends and restates the Draw Promissory Note dated September
24, 1998, between Maker and Capital Senior Living Properties, Inc.
The accrued interest on this note is payable quarterly after the first
draw down.
All past due principal and interest shall bear interest from maturity
at the rate of twelve percent (12%) per annum.
This note may be prepaid without penalty.
Failure to pay any installment of principal and interest, or any other
part thereof, when due shall, at the election of the holder and without notice,
mature the whole note and it shall at once become due and payable.
It is hereby specifically agreed that if this note is placed in the
hands of an attorney for collection, or if collected by suit or through the
Probate Court or any other legal proceedings, the undersigned agrees to pay
reasonable attorneys' fees.
All makers, endorsers, sureties and guarantors hereby waive presentment
for payment of this note, notice of nonpayment, protest, notice of protest,
diligence, or any notice of, or defense on account of, any extension,
extensions, renewal, renewals, or change in any manner of or in this note, or in
any of its terms, provisions or covenants, or of any delay, indulgence or other
act of any holder of the aforesaid note.
TRIAD SENIOR LIVING II, L.P.,
a Texas limited partnership
By: Triad Partners II, Inc.,
Its General Partner
BY: /s/ Xxxxx X. Fail
------------------
TITLE: President
------------------
