0001193125-09-204995 Sample Contracts

MULTIFAMILY MORTGAGE, ASSIGNMENT OF RENTS AND SECURITY AGREEMENT (FLORIDA – REVISION DATE 03-31-2008)
And Security Agreement • October 7th, 2009 • Paladin Realty Income Properties Inc • Real estate investment trusts

THIS MULTIFAMILY MORTGAGE, ASSIGNMENT OF RENTS AND SECURITY AGREEMENT (the “Instrument”) is made to be effective this 1st day of October, 2009, between EVERGREEN AT LOFTON PLACE, LLC, a limited liability company organized and existing under the laws of Delaware, whose address is c/o Evergreen Residential, 519 Harrison Avenue, Suite 512, Boston, Massachusetts 02118, as mortgagor (“Borrower”), and CWCAPITAL LLC, a limited liability company organized and existing under the laws of Massachusetts, whose address is One Charles River Place, 63 Kendrick Street, Needham, Massachusetts 02494, as mortgagee (“Lender”). Borrower’s organizational identification number, if applicable, is 4725548.

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MULTIFAMILY NOTE-CME MULTISTATE – FIXED RATE (REVISION DATE 8-14-2009)
Paladin Realty Income Properties Inc • October 7th, 2009 • 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 CWCAPITAL LLC, a Massachusetts limited liability company, the principal sum of Twelve Million and 00/100 Dollars (US $12,000,000.00), with interest on the unpaid principal balance, as hereinafter provided.

OPERATING AGREEMENT OF EVERGREEN AT LOFTON PLACE, LLC
Operating Agreement • October 7th, 2009 • Paladin Realty Income Properties Inc • Real estate investment trusts • Delaware

THIS OPERATING AGREEMENT OF EVERGREEN AT LOFTON PLACE, LLC (the “Company”), is entered into effective as of October 1, 2009, by and between PRIP LOFTON, LLC, a Delaware limited liability company (“Paladin”), NVR LOFTON PLACE LP, an Iowa limited partnership (“NVR”), and BH LOFTON, LLC, an Iowa limited liability company (“BH”). The capitalized terms used herein and not otherwise defined shall have the respective meanings assigned to such terms in Article 11.

LOFTON PLACE APARTMENTS TAMPA, FLORIDA SEVENTH AMENDMENT TO REAL ESTATE SALE AGREEMENT
Real Estate Sale Agreement • October 7th, 2009 • Paladin Realty Income Properties Inc • Real estate investment trusts

THIS SEVENTH AMENDMENT TO REAL ESTATE SALE AGREEMENT (this “Amendment”) is made as of the 22nd day of September, 2009, by and between ERP OPERATING LIMITED PARTNERSHIP, an Illinois limited partnership (“Seller”), with an office at c/o Equity Residential, Two North Riverside Plaza, Suite 400, Chicago, Illinois 60606, and EVERGREEN AT LOFTON PLACE, LLC, a Delaware limited liability company as assignee of NORTHVIEW REALTY GROUP INC., a Canadian corporation (“Purchaser”), with an office at 550 Sherbrook, Suite 1480, Montreal, OC Canada H3A 1B9.

ASSIGNMENT OF REAL ESTATE SALE AGREEMENT
Assignment of Real Estate Sale Agreement • October 7th, 2009 • Paladin Realty Income Properties Inc • Real estate investment trusts

This Assignment of Real Estate Sale Agreement is made and entered into as of the 14th day of September, 2009, by and between Northview Realty Group, Inc., a Canadian corporation (“Assignor”), with an office at 550 Sherbrook, Suite 1480, Montreal, OC Canada H3A 1B9 and Evergreen at Lofton Place, LLC, a Delaware limited liability company (“Assignee”), as follows:

GUARANTY-CME MULTISTATE (for use in all Property jurisdictions except California) REVISION DATE 8-14-2009
Paladin Realty Income Properties Inc • October 7th, 2009 • Real estate investment trusts

This Guaranty (“Guaranty”) is entered into to be effective as of October 1, 2009, by the undersigned Person(s) (the “Guarantor” jointly and severally if more than one), for the benefit of CWCAPITAL LLC, a Massachusetts limited liability company (the “Lender”).

LOFTON PLACE APARTMENTS TAMPA, FLORIDA FIFTH AMENDMENT TO REAL ESTATE SALE AGREEMENT
Real Estate Sale Agreement • October 7th, 2009 • Paladin Realty Income Properties Inc • Real estate investment trusts

THIS FIFTH AMENDMENT TO REAL ESTATE SALE AGREEMENT (this “Amendment”) is made as of the 13th day of August, 2009, by and between ERP OPERATING LIMITED PARTNERSHIP, an Illinois limited partnership (“Seller”), with an office at c/o Equity Residential, Two North Riverside Plaza, Suite 400, Chicago, Illinois 60606, and NORTHVIEW REALTY GROUP INC., a Canadian corporation (“Purchaser”), with an office at 550 Sherbrook, Suite 1480, Montreal, OC Canada H3A 1B9.

LOFTON PLACE APARTMENTS TAMPA, FLORIDA THIRD AMENDMENT TO REAL ESTATE SALE AGREEMENT
Real Estate Sale Agreement • October 7th, 2009 • Paladin Realty Income Properties Inc • Real estate investment trusts

THIS THIRD AMENDMENT TO REAL ESTATE SALE AGREEMENT (this “Amendment”) is made as of the 11th day of August, 2009, by and between ERP OPERATING LIMITED PARTNERSHIP, an Illinois limited partnership (“Seller”), with an office at c/o Equity Residential, Two North Riverside Plaza, Suite 400, Chicago, Illinois 60606, and NORTHVIEW REALTY GROUP INC., a Canadian corporation (“Purchaser”), with an office at 550 Sherbrook, Suite 1480, Montreal, OC Canada H3A 1B9.

LOFTON PLACE APARTMENTS TAMPA, FLORIDA FOURTH AMENDMENT TO REAL ESTATE SALE AGREEMENT
Real Estate Sale Agreement • October 7th, 2009 • Paladin Realty Income Properties Inc • Real estate investment trusts

THIS FOURTH AMENDMENT TO REAL ESTATE SALE AGREEMENT (this “Amendment”) is made as of the 12th day of August, 2009, by and between ERP OPERATING LIMITED PARTNERSHIP, an Illinois limited partnership (“Seller”), with an office at c/o Equity Residential, Two North Riverside Plaza, Suite 400, Chicago, Illinois 60606, and NORTHVIEW REALTY GROUP INC., a Canadian corporation (“Purchaser”), with an office at 550 Sherbrook, Suite 1480, Montreal, OC Canada H3A 1B9.

LOFTON PLACE APARTMENTS TAMPA, FLORIDA REINSTATEMENT OF AND FIRST AMENDMENT TO REAL ESTATE SALE AGREEMENT
Real Estate Sale Agreement • October 7th, 2009 • Paladin Realty Income Properties Inc • Real estate investment trusts

THIS REINSTATEMENT OF AND FIRST AMENDMENT TO REAL ESTATE SALE AGREEMENT (this “Agreement”) is made as of the 23rd day of July, 2009, by and between ERP OPERATING LIMITED PARTNERSHIP, an Illinois limited partnership (“Seller”), with an office at c/o Equity Residential, Two North Riverside Plaza, Suite 400, Chicago, Illinois 60606, and NORTHVIEW REALTY GROUP INC., a Canadian corporation (“Purchaser”), with an office at 550 Sherbrook, Suite 1480, Montreal, OC Canada H3A 1B9.

LOFTON PLACE APARTMENTS TAMPA, FLORIDA SECOND AMENDMENT TO REAL ESTATE SALE AGREEMENT
Real Estate Sale Agreement • October 7th, 2009 • Paladin Realty Income Properties Inc • Real estate investment trusts

THIS SECOND AMENDMENT TO REAL ESTATE SALE AGREEMENT (this “Amendment”) is made as of the 6th day of August, 2009, by and between ERP OPERATING LIMITED PARTNERSHIP, an Illinois limited partnership (“Seller”), with an office at c/o Equity Residential, Two North Riverside Plaza, Suite 400, Chicago, Illinois 60606, and NORTHVIEW REALTY GROUP INC., a Canadian corporation (“Purchaser”), with an office at 550 Sherbrook, Suite 1480, Montreal, OC Canada H3A 1B9.

LOFTON PLACE APARTMENTS TAMPA, FLORIDA REAL ESTATE SALE AGREEMENT
Real Estate Sale Agreement • October 7th, 2009 • Paladin Realty Income Properties Inc • Real estate investment trusts

THIS REAL ESTATE SALE AGREEMENT (this “Agreement”) is made as of the 8th day of June, 2009 (the “Effective Date”), by and between ERP OPERATING LIMITED PARTNERSHIP, an Illinois limited partnership (“Seller”), with an office at c/o Equity Residential, Two North Riverside Plaza, Suite 400, Chicago, Illinois 60606, and NORTHVIEW REALTY GROUP INC., a Canadian corporation (“Purchaser”), with an office at 550 Sherbrook, Suite 1480, Montreal, OC Canada H3A 1B9.

LOFTON PLACE APARTMENTS TAMPA, FLORIDA SIXTH AMENDMENT TO REAL ESTATE SALE AGREEMENT
Real Estate Sale Agreement • October 7th, 2009 • Paladin Realty Income Properties Inc • Real estate investment trusts

THIS SIXTH AMENDMENT TO REAL ESTATE SALE AGREEMENT (this “Amendment”) is made as of the 1st day of September, 2009, by and between ERP OPERATING LIMITED PARTNERSHIP, an Illinois limited partnership (“Seller”), with an office at c/o Equity Residential, Two North Riverside Plaza, Suite 400, Chicago, Illinois 60606, and NORTHVIEW REALTY GROUP INC., a Canadian corporation (“Purchaser”), with an office at 550 Sherbrook, Suite 1480, Montreal, OC Canada H3A 1B9.

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