AMENDED AND RESTATED MULTIFAMILY NOTE (Recast Transaction)Multifamily Note • September 7th, 2007 • Consolidated Capital Institutional Properties 3 • Real estate investment trusts
THIS AMENDED AND RESTATED MULTIFAMILY NOTE (“Amended and Restated Note”) is made effective as of the 31st day of August, 2007, by CONSOLIDATED CAPITAL INSTITUTIONAL PROPERTIES/3, a California limited partnership, doing business in Washington as Consolidated Capital Institutional Properties/3, A California Limited Partnership ("Borrower") and the FEDERAL HOME LOAN MORTGAGE CORPORATION (“Lender”).
MULTIFAMILY NOTE MULTISTATE – FIXED TO FLOATMultifamily Note • September 7th, 2007 • Consolidated Capital Institutional Properties 3 • Real estate investment trusts
FOR VALUE RECEIVED, the undersigned (together with such party's or parties' successors and assigns, "Borrower"), jointly and severally (if more than one) promises to pay to the order of CAPMARK BANK, a Utah industrial bank, the principal sum of Four Million Two Hundred Thousand and 00/100 Dollars (US $4,200,000.00), with interest on the unpaid principal balance, as hereinafter provided.
