LOAN AGREEMENT Dated March 6, 2018 amongLoan Agreement • May 11th, 2018 • KBS Strategic Opportunity REIT, Inc. • Real estate investment trusts • California
Page ARTICLE I DEFINITIONS 6 1.1 Defined Terms 6 ARTICLE II THE LOAN 21 2.1 The Loan 21 2.2 Repayment 22 2.3 Interest 25 ARTICLE III GENERAL PROVISIONS CONCERNING THE LOAN 25 3.1 Use of Proceeds 25 3.2 Repayment Amounts 25 3.3 Default Interest and Late Fees 25 3.4 Computation of Interest and Fees; Determinations by Administrative Agent 26 3.5 Payments 26 3.6 Payment on Non-Business Days; Non-Payment Dates 27 3.7 Inability to Determine Interest Rate; Ineffective Interest Rate 27 3.8 Increased Cost and Reduced Return; Capital Adequacy 27 3.9 Calculations 28 3.10 insurance Premium and Tax Payments 29 3.11 Cash Management 29 ARTICLE IV CONDITIONS OF LENDING 30 4.1 Conditions Precedent to Making the Loan 30 ARTICLE V REPRESENTATIONS AND WARRANTIES 33 5.1 Organization 33 5.2 Authorization 33 5.3 No Conflict 33 5.4 Governmental Approval 33 5.5 Validity 33 5.6 Financial Matters 33 5.7 Ownership 34 5.8 No Other Ownership Interests 34 5
NOTEKBS Strategic Opportunity REIT, Inc. • May 11th, 2018 • Real estate investment trusts
FOR VALUE RECEIVED, KBS SOR CITY TOWER, LLC, a Delaware limited liability company (hereinafter referred to as the “Borrower”), promises to pay to the order of COMPASS BANK, an Alabama banking corporation (hereinafter referred to as the “Lender”) on the Maturity Date or such earlier dates as are provided for in the Loan Agreement (defined below) the principal amount of One Hundred Three Million Three Hundred Fifty Thousand and No/100 Dollars ($103,350,000.00).
