MEZZANINE LOAN AGREEMENTMezzanine Loan Agreement • May 6th, 2013 • Preferred Apartment Communities Inc • Real estate investment trusts • Georgia
NOTEMezzanine Loan Agreement • May 6th, 2013 • Preferred Apartment Communities Inc • Real estate investment trusts
FOR VALUE RECEIVED, the undersigned, IRIS CROSSTOWN PARTNERS LLC, a Georgia limited liability company, hereby promises to pay to the order of IRIS CROSSTOWN MEZZANINE LENDING, LLC, a Delaware limited liability company (“Lender”), in accordance with the terms of that certain Mezzanine Loan Agreement dated as of April 30, 2013, 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 NINE HUNDRED SIXTY-TWO THOUSAND AND NO/100 DOLLARS ($10,962,000.00), 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
PURCHASE OPTION AGREEMENTPurchase Option Agreement • May 6th, 2013 • Preferred Apartment Communities Inc • Real estate investment trusts
THIS PURCHASE OPTION AGREEMENT (“Agreement”) is made and entered into as of this 30th day of April, 2013, by and between IRIS CROSSTOWN APARTMENTS LLC, a Florida limited liability company (“Seller”), and IRIS CROSSTOWN MEZZANINE LENDING, LLC, a Delaware limited liability company and its successors and assigns (collectively “Purchaser”).
