FIXED+1 MULTIFAMILY NOTEFixed+1 Multifamily Note • August 7th, 2007 • NNN Apartment REIT, Inc. • Real estate investment trusts
FOR VALUE RECEIVED, the undersigned (“Borrower”) jointly and severally (if more than one) promises to pay to the order of PNC ARCS LLC, a Delaware limited liability company, the principal sum of Ten Million Two Hundred Ninety Five Thousand and No/100 Dollars (US $10,295,000.00), with interest accruing at the Interest Rate on the unpaid principal balance from the Disbursement Date until fully paid.
