PROMISSORY NOTEPromissory Note • June 14th, 2010 • Pennsylvania Real Estate Investment Trust • Real estate investment trusts
FOR VALUE RECEIVED, MALL AT LEHIGH VALLEY, L.P., a Delaware 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 2100 Ross Avenue, Suite 2500, Dallas, Texas 75201, the principal sum of ONE HUNDRED FORTY MILLION AND NO/100 U.S. DOLLARS ($140,000,000.00), with interest on the unpaid balance (“Balance”) at the rate of five and eighty-eight hundredths percent (5.88%) 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).
