PROMISSORY NOTEPennsylvania Real Estate Investment Trust • December 9th, 2005 • Real estate investment trusts
FOR VALUE RECEIVED, W.G. PARK, L.P., a Pennsylvania limited partnership (“Borrower”), promises to pay to the order of THE PRUDENTIAL INSURANCE COMPANY OF AMERICA, a New Jersey corporation (“Lender,” which shall also mean successors and assigns who become holders of this Note), at 2200 Ross Avenue, Suite 4900E, Dallas, Texas, 75201, the principal sum of EIGHTY MILLION AND NO/100 U.S. DOLLARS ($80,000,000.00), with interest on the unpaid balance (“Balance”) at the rate of five and sixty-five hundredths percent (5.65%) per annum (“Note Rate”) from and including the date of the first disbursement of Loan proceeds under this Note (“Funding Date”) until Maturity (defined below). Capitalized terms used without definition shall have the meanings ascribed to them in the Instrument (defined below) or in that certain Collateral Loan Agreement dated as of the date hereof (the “Loan Agreement”) by and among Borrower, Lender, and Teachers Insurance and Annuity Association of America, a New York corp
