CLARENDON CENTER LLC, as grantor (Borrower) to LAWYERS TITLE REALTY SERVICES, INC., as trustee (Trustee) for the benefit of THE PRUDENTIAL INSURANCE COMPANY OF AMERICA, as beneficiary (Lender) DEED OF TRUST, SECURITY AGREEMENT AND FIXTURE FILINGDeed of Trust, Security Agreement and Fixture Filing • April 28th, 2011 • Saul Centers Inc • Real estate investment trusts
THIS DEED OF TRUST, SECURITY AGREEMENT AND FIXTURE FILING (this “Instrument”) is made as of the 23rd day of March, 2011, by CLARENDON CENTER LLC, a Delaware limited liability company, having its principal office and place of business at 7501 Wisconsin Avenue, Suite 1500 East, Bethesda, Maryland 20814, as grantor (“Borrower”), to LAWYERS TITLE REALTY SERVICES, INC., a Virginia corporation, Trustee, having its principal place of business at 7130 Glen Forest Dr # 403, Richmond, VA 23226, and having a mailing address of c/o Commonwealth Land Title Insurance Company, 1015 15th Street, N.W., Suite 300, Washington, DC 20005, as trustee/grantee (“Trustee”), for the benefit of THE PRUDENTIAL INSURANCE COMPANY OF AMERICA, a New Jersey corporation, having an office at c/o Prudential Asset Resources, Inc., 2100 Ross Avenue, Suite 2500, Dallas, Texas 75201, Attention: Asset Management Department; Reference Loan No. 706108495, as beneficiary (“Lender”).
PROMISSORY NOTEPromissory Note • April 28th, 2011 • Saul Centers Inc • Real estate investment trusts
FOR VALUE RECEIVED, CLARENDON CENTER LLC, a Delaware limited liability company (“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 TWENTY-FIVE MILLION AND NO/100 U.S. DOLLARS ($125,000,000.00), with interest on the unpaid balance (“Balance”) at the rate of five and thirty-one hundredths percent (5.31%) 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).
