PROMISSORY NOTEPromissory Note • August 4th, 2008 • Meruelo Maddux Properties, Inc. • Real estate • California
FOR VALUE RECEIVED, the undersigned, MERUELO MADDUX—845 S. FLOWER STREET, LLC, a Delaware limited liability company (“Borrower”), having an address at 761 Terminal Street, Building 1, Second Floor, Los Angeles, California 90021, promises to pay, as hereinafter provided, to the order of CANPARTNERS REALTY HOLDING COMPANY IV LLC, a Delaware limited liability company (“Lender”), having an address c/o Canyon Capital Realty Advisors, LLC, 2000 Avenue of the Stars, 11th Floor, Los Angeles, California 90067, without set-off, counterclaim or deduction, the sum of Eighty-Four Million Dollars ($84,000,000.00) (the “Stated Principal Amount”), or so much thereof as shall have been advanced by Lender, together with interest on the Outstanding Principal Balance (as hereinafter defined) at the rate(s) hereinafter provided. The proceeds of the loan evidenced by this Note shall be disbursed by Lender in two (2) separate Tranches (as defined below) pursuant to the Loan Agreement (as defined below).
LOAN AGREEMENT Dated as of July 31, 2008 among MERUELO MADDUX – 845 S. FLOWER STREET, LLC, a Delaware limited liability company, as Borrower and CANPARTNERS REALTY HOLDING COMPANY IV LLC, a Delaware limited liability company, as Lender $84,000,000.00...Loan Agreement • August 4th, 2008 • Meruelo Maddux Properties, Inc. • Real estate • California
This LOAN AGREEMENT is made as of this 31st day of July, 2008, by and between MERUELO MADDUX – 845 S. FLOWER STREET, LLC, a Delaware limited liability company (“Borrower”), and CANPARTNERS REALTY HOLDING COMPANY IV LLC, a Delaware limited liability company (together with its successors and assigns, and the holder, from time to time, of the Note (as defined below), the “Lender”), with respect to the following matters:
