UNSECURED PROMISSORY NOTE (this “Note”)Unsecured Promissory Note • August 7th, 2007 • NNN Apartment REIT, Inc. • Real estate investment trusts
FOR VALUE RECEIVED, NNN Apartment REIT Holdings, L.P., a Virginia limited partnership (“Borrower”), unconditionally promises to pay NNN Realty Advisors, Inc., a Delaware corporation (“Lender”), in the manner and at the place hereinafter provided, the principal amount of Thirteen Million Two Hundred Thousand Dollars ($13,200,000).
FIXED+1 MULTIFAMILY NOTEFixed+1 Multifamily Note • August 7th, 2007 • NNN Apartment REIT, Inc. • Real estate investment trusts
FOR VALUE RECEIVED, the undersigned (“Borrower”) jointly and severally (if more than one) promises to pay to the order of PNC ARCS LLC, a Delaware limited liability company, the principal sum of Ten Million Two Hundred Ninety Five Thousand and No/100 Dollars (US $10,295,000.00), with interest accruing at the Interest Rate on the unpaid principal balance from the Disbursement Date until fully paid.
AMENDMENT TO SALE AGREEMENT Bay Point Resort Apartments, Corpus Christi, TXSale Agreement • August 7th, 2007 • NNN Apartment REIT, Inc. • Real estate investment trusts
THIS AMENDMENT TO SALE AGREEMENT (this “Amendment”) is entered into effective as of June 14, 2007 (the “Effective Date”), by and between Bay Point Resort Corpus Christi, L.P., a Texas limited partnership (“Seller”), and Triple Net Properties, LLC, a Virginia limited liability company (“Buyer”).
SALE AGREEMENT Bay Point Resort Apartments, Corpus Christi TXSale Agreement Bay Point Resort Apartments, Corpus Christi Tx • August 7th, 2007 • NNN Apartment REIT, Inc. • Real estate investment trusts • Texas
This Sale Agreement (“Agreement”) made and entered into as of June 8, 2007 (“Effective Date”) by and among Bay Point Resort Corpus Christi, L.P., a Texas limited partnership (“Seller”) and Triple Net Properties, L.L.C. a Virginia limited liability company (“Buyer”). For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound hereby the parties hereto agree as follows:
SALE AGREEMENT ASSIGNMENTSale Agreement Assignment • August 7th, 2007 • NNN Apartment REIT, Inc. • Real estate investment trusts
This Sale Agreement Assignment (“Assignment”) is made as of August 1, 2007 by and between Triple Net Properties, L.L.C. a Virginia limited liability company (“Assignor”), Apartment REIT Bay Point Resort, LLC, a Texas limited liability company (“Assignee”), and is made with respect to the Sale Agreement by and between Assignor and Bay Point Resort Corpus Christi, L.P., a Texas limited partnership (“Seller”) dated June 8, 2007, as amended June 14, 2007 (“PSA”). For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follows:
