MEZZANINE LOAN AGREEMENT DATED AS OF MAY 7, 2012 among OXFORD SUMMIT APARTMENTS II LLC and SUMMIT CROSSING MEZZANINE LENDING, LLCMezzanine Loan Agreement • May 11th, 2012 • Preferred Apartment Communities Inc • Real estate investment trusts • Georgia
NOTEPreferred Apartment Communities Inc • May 11th, 2012 • Real estate investment trusts
FOR VALUE RECEIVED, the undersigned, OXFORD SUMMIT APARTMENTS II LLC, a Georgia limited liability company, hereby promises to pay to the order of SUMMIT CROSSING MEZZANINE LENDING, LLC, a Georgia limited liability company (“Lender”), in accordance with the terms of that certain Mezzanine Loan Agreement dated as of May 7, 2012, as from time to time in effect, among the undersigned and Lender (the “Loan Agreement”) to the extent not sooner paid, on or before the Maturity Date, the principal sum of SIX MILLION ONE HUNDRED THREE THOUSAND TWENTY-SEVEN AND NO/100 DOLLARS ($6,103,027.00), or such amount as may be advanced by the payee hereof under the Loan Agreement, together with such additional principal from time to time outstanding under the Loan Agreement, with daily interest from the date hereof, computed as provided in the Loan Agreement, on the principal amount hereof from time to time unpaid, at a rate per annum on each portion of the principal amount which shall at all times be equa
PURCHASE OPTION AGREEMENTPurchase Option Agreement • May 11th, 2012 • Preferred Apartment Communities Inc • Real estate investment trusts
THIS PURCHASE OPTION AGREEMENT (“Agreement”) is made and entered into as of this 7th day of May, 2012, by and between OXFORD SUMMIT APARTMENTS II LLC, a Georgia limited liability company (“Seller”), and SUMMIT CROSSING MEZZANINE LENDING, LLC, a Georgia limited liability company and its successors and assigns (collectively “Purchaser”).
