MEZZANINE LOAN AGREEMENTMezzanine Loan Agreement • September 11th, 2012 • Preferred Apartment Communities Inc • Real estate investment trusts • Georgia
THIS MEZZANINE LOAN AGREEMENT (this “Agreement”) is made as of September 6, 2012, by and among OXFORD CITY PARK DEVELOPMENT LLC, a Georgia limited liability company (“Borrower”), having its principal place of business at c/o One Overton Park, 3625 Cumberland Blvd., Suite 500, Atlanta, Georgia 30339, Attn: W. Daniel Faulk, Jr., and CITY PARK MEZZANINE LENDING, LLC, a Delaware limited liability company (the “Lender”).
NOTEPreferred Apartment Communities Inc • September 11th, 2012 • Real estate investment trusts
FOR VALUE RECEIVED, the undersigned, OXFORD CITY PARK DEVELOPMENT LLC, a Georgia limited liability company, hereby promises to pay to the order of CITY PARK MEZZANINE LENDING, LLC, a Delaware limited liability company (“Lender”), in accordance with the terms of that certain Mezzanine Loan Agreement dated as of September 6, 2012, as from time to time in effect, among the undersigned and Lender (the “Loan Agreement”) to the extent not sooner paid, on or before the Maturity Date, the principal sum of TEN MILLION AND NO/100 DOLLARS ($10,000,000.00), or such amount as may be advanced by the payee hereof under the Loan Agreement, together with such additional principal from time to time outstanding under the Loan Agreement, with daily interest from the date hereof, computed as provided in the Loan Agreement, on the principal amount hereof from time to time unpaid, at a rate per annum on each portion of the principal amount which shall at all times be equal to the rate of interest applicable
PURCHASE OPTION AGREEMENTPurchase Option Agreement • September 11th, 2012 • Preferred Apartment Communities Inc • Real estate investment trusts
THIS PURCHASE OPTION AGREEMENT (“Agreement”) is made and entered into as of this 6th day of September, 2012, by and between OXFORD CITY PARK APARTMENTS LLC, a Georgia limited liability company (“Seller”), and CITY PARK MEZZANINE LENDING, LLC, a Delaware limited liability company and its successors and assigns (collectively “Purchaser”).
