MULTIFAMILY NOTE MULTISTATE – FIXED TO FLOAT (REVISION DATE 03-30-2006)Multifamily Note • December 31st, 2007 • Grubb & Ellis Apartment REIT, Inc. • 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 CAPMARK BANK, a Utah industrial bank, the principal sum of Twenty Million One Hundred Thousand and 00/100 Dollars (US $20,100,000.00), with interest on the unpaid principal balance, as hereinafter provided.
UNSECURED PROMISSORY NOTE (this “Note”)Unsecured Promissory Note • December 31st, 2007 • Grubb & Ellis Apartment REIT, Inc. • Real estate investment trusts
FOR VALUE RECEIVED, Grubb & Ellis 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 Ten Million Dollars ($10,000,000).
FIRST AMENDED AND RESTATED PLEDGE AGREEMENT (MEMBERSHIP AND PARTNERSHIP INTERESTS)Pledge Agreement • December 31st, 2007 • Grubb & Ellis Apartment REIT, Inc. • Real estate investment trusts • North Carolina
THIS FIRST AMENDED AND RESTATED PLEDGE AGREEMENT (MEMBERSHIP AND PARTNERSHIP INTERESTS) (as amended, modified, replaced, renewed, restated or extended from time to time, this “Agreement”), dated as of the 21st day of December, 2007, by and between WACHOVIA BANK, N.A., a national banking association (“Lender”), and GRUBB & ELLIS APARTMENT REIT HOLDINGS, L.P., a Virginia limited partnership (formerly known as NNN Apartment REIT Holdings, L.P.) (“Pledgor”).
GUARANTY MULTISTATE (for use in all Property jurisdictions except California) REVISION DATE 05/06/2005Guaranty • December 31st, 2007 • Grubb & Ellis Apartment REIT, Inc. • Real estate investment trusts
This Guaranty (“Guaranty”) is entered into to be effective as of December 21, 2007, by the undersigned person(s) (the “Guarantor” jointly and severally if more than one), for the benefit of CAPMARK BANK, a Utah industrial bank (the “Lender”).
MULTIFAMILY DEED OF TRUST, ASSIGNMENT OF RENTS AND SECURITY AGREEMENT (VIRGINIA – REVISION DATE 05-11-2004)Multifamily Deed of Trust, Assignment of Rents and Security Agreement • December 31st, 2007 • Grubb & Ellis Apartment REIT, Inc. • Real estate investment trusts
THIS MULTIFAMILY DEED OF TRUST, ASSIGNMENT OF RENTS AND SECURITY AGREEMENT (the “Instrument”) is made to be effective as of December 21, 2007, by G&E APARTMENT REIT THE HEIGHTS AT OLDE TOWNE, LLC, a limited liability company organized and existing under the laws of Delaware, whose address is c/o Triple Net Properties, LLC, 1606 Santa Rosa Road, Suite 109, Richmond, Virginia 23229, as grantor (“Borrower”), to MARK S. SHIEMBOB, a resident of the City of Richmond, Virginia and BERNICE H. CILLEY, a resident of the County of Henrico Virginia, whose business address is Troutman Sanders LLP, 1001 Haxall Point, Richmond, Virginia 23219, as trustee (“Trustee”), for the benefit of CAPMARK BANK, an industrial bank organized and existing under the laws of Utah, whose address is 6955 Union Park Center, Suite 330, Midvale, Utah 84047, Attn: President, with a copy to Capmark Finance Inc., 116 Welsh Road, Horsham, Pennsylvania 19044, Attn: Servicing – Executive Vice President, as beneficiary (“Lender”
PURCHASE AND SALE AGREEMENTPurchase and Sale Agreement • December 31st, 2007 • Grubb & Ellis Apartment REIT, Inc. • Real estate investment trusts
THIS PURCHASE AND SALE AGREEMENT (this “Agreement”) is made to be effective as of the Effective Date by and between THE MYRTLES AT OLDE TOWNE, L.L.C., a Delaware limited liability company (“Seller”), and TRIPLE NET PROPERTIES, LLC, a Virginia limited liability company (“Buyer”).
SALE AGREEMENT ASSIGNMENTSale Agreement Assignment • December 31st, 2007 • Grubb & Ellis Apartment REIT, Inc. • Real estate investment trusts
This Sale Agreement Assignment (“Assignment”) is made as of December 21, 2007 by and between Triple Net Properties, LLC, a Virginia limited liability company (“Assignor”), and G&E Apartment REIT The Myrtles at Old Towne, LLC, a Delaware limited liability company (“Assignee”), and is made with respect to the Sale Agreement by and between Assignor and The Myrtles at Olde Towne, L.L.C., a Delaware limited liability company (“Seller”) dated December 10, 2007 (“PSA”). For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follows:
SALE AGREEMENT ASSIGNMENTSale Agreement Assignment • December 31st, 2007 • Grubb & Ellis Apartment REIT, Inc. • Real estate investment trusts
This Sale Agreement Assignment (“Assignment”) is made as of December 21, 2007 by and between Triple Net Properties, LLC, a Virginia limited liability company (“Assignor”), and G&E Apartment REIT The Heights at Old Towne, LLC, a Delaware limited liability company (“Assignee”), and is made with respect to the Sale Agreement by and between Assignor and Fort Nelson Apartments, L.L.C., a Delaware limited liability company (“Seller”) dated December 10, 2007 (“PSA”). For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follows:
