GUARANTY AGREEMENTGuaranty Agreement • August 7th, 2009 • Sun Communities Inc • Real estate investment trusts
This Guaranty Agreement (this “Guaranty”) is made as of the 29th day of June, 2009, by Sun Communities Operating Limited Partnership, a Michigan limited partnership (“Guarantor”), in favor of Bank of America, N.A., a national banking association (together with its successors and assigns, “Lender”).
TERM LOAN AGREEMENTTerm Loan Agreement • August 7th, 2009 • Sun Communities Inc • Real estate investment trusts
Promissory NotePromissory Note • August 7th, 2009 • Sun Communities Inc • Real estate investment trusts
FOR VALUE RECEIVED, Knollwood Estates Operating Company, LLC, a Michigan limited liability company, Sun River Ridge Limited Partnership, a Michigan limited partnership, and Sun Countryside Gwinnett LLC, a Michigan limited liability company (collectively, the “Borrower”), hereby promise to pay to the order of Bank of America, N.A., a national banking association (together with any and all of its successors and assigns and/or any other holder of this Note, “Lender”), without offset, in immediately available funds in lawful money of the United States of America, at 2600 West Big Beaver Road, Troy, Michigan 48084, the principal sum of Eighteen Million Five Hundred Forty One Thousand Two Hundred Fifty and No/100 Dollars ($18,541,250.00) (or the unpaid balance of all principal advanced against this Note, if that amount is less), together with interest on the unpaid principal balance of this Note from day to day outstanding as hereinafter provided.
