0001299933-08-003223 Sample Contracts

AMENDED AND RESTATED GUARANTY OF PAYMENT
Guaranty of Payment • June 30th, 2008 • NNN 2003 Value Fund LLC • Operators of nonresidential buildings • Illinois

This AMENDED AND RESTATED GUARANTY OF PAYMENT dated as of June 24, 2008 (this “Guaranty”), is executed by NNN 2003 VALUE FUND, LLC, a Delaware limited liability company (the “Guarantor”), to and for the benefit of LASALLE BANK NATIONAL ASSOCIATION, a national banking association (the “Lender”).

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MODIFICATION OF LOAN DOCUMENTS
NNN 2003 Value Fund LLC • June 30th, 2008 • Operators of nonresidential buildings • Illinois

THIS MODIFICATION OF LOAN DOCUMENTS (this “Agreement”) is made as of the 24th day of June, 2008 but is effective as of May 12, 2008, by and among NNN VF 901 CIVIC, LLC, a Delaware limited liability company, whose mailing address is c/o Grubb & Ellis Realty Investors, LLC, 1551 North Tustin Avenue, Suite 200, Santa Ana, California 92705 and NNN 901 CIVIC, LLC, a Delaware limited liability company, whose mailing address is c/o Grubb & Ellis Realty Investors, LLC, 1551 North Tustin Avenue, Suite 200, Santa Ana, California 92705 (jointly, “Borrower”), NNN 2003 VALUE FUND, LLC, a Delaware limited liability company (“Guarantor”) and LASALLE BANK NATIONAL ASSOCIATION, a national banking association, its successors and assigns (“Lender”).

MODIFICATION OF LOAN DOCUMENTS
NNN 2003 Value Fund LLC • June 30th, 2008 • Operators of nonresidential buildings • Illinois

THIS MODIFICATION OF LOAN DOCUMENTS (this “Agreement”) is made as of the 24th day of June, 2008 but is effective as of May 12, 2008, by and among NNN VF 901 CIVIC, LLC, a Delaware limited liability company, whose mailing address is c/o Grubb & Ellis Realty Investors, LLC, 1551 North Tustin Avenue, Suite 200, Santa Ana, California 92705 and NNN 901 CIVIC, LLC, a Delaware limited liability company, whose mailing address is c/o Grubb & Ellis Realty Investors, LLC, 1551 North Tustin Avenue, Suite 200, Santa Ana, California 92705 (jointly, “Borrower”), NNN 2003 VALUE FUND, LLC, a Delaware limited liability company (“Guarantor”) and LASALLE BANK NATIONAL ASSOCIATION, a national banking association, its successors and assigns (“Lender”).

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