BUILDING LOAN MORTGAGE NOTEBuilding Loan Mortgage Note • March 16th, 2006 • Wellsford Real Properties Inc • Real estate investment trusts
Claverack Housing Ventures, LLC c/o Wellsford Real Properties 535 Madison Avenue, 26th Floor New York, New York 10022 (Individually and collectively “Borrower”) Wachovia Bank, National Association 12 East 49th Street 42nd Floor New York, New York 10017 (Hereinafter referred to as “Bank”) Borrower promises to pay to the order of Bank, in lawful money of the United States of America, at its office indicated above or wherever else Bank may specify, the sum of One Million Six Hundred Twenty- Three Thousand Three Hundred Seventy Two and 87/100 Dollars $1,623,372.87) or such sum as may be advanced and outstanding from time to time, with interest on the unpaid principal balance at the rate and on the terms provided in this Building Loan Mortgage Note (including all renewals, extensions or modifications hereof, this “Note”). BUILDING LOAN AGREEMENT. This Note is subject to the provisions of that certain Building Loan Agreement between Bank and Borrower of even date herewith, a
