Multifamily Note Sample Contracts

MULTIFAMILY NOTE MULTISTATE -FIXED TO FLOAT
Multifamily Note • July 6th, 2012 • Steadfast Income REIT, Inc. • Real estate investment trusts

FOR VALUE RECEIVED, the undersigned (together with such party's or parties' successors and assigns, "Borrower"), jointly and severally (if more than one) promises to pay to the order of CBRE MELODY & COMPANY, a Texas corporation, the principal sum of TWENTY MILLION FNE HUNDRED THOUSAND AND NO/l00 DOLLARS (US $20,500,000.00), with interest on the unpaid principal balance, as hereinafter provided.

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MULTIFAMILY NOTE MULTISTATE – FIXED RATE (REVISION DATE 2-15-2008)
Multifamily Note • March 17th, 2010 • Shelter Properties Ii LTD Partnership • Real estate

FOR VALUE RECEIVED, the undersigned (together with such party's or parties' successors and assigns, "Borrower") jointly and severally (if more than one) promises to pay to the order of WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, the principal sum of Five Million One Hundred Twenty-One Thousand and 00/100 Dollars (US $5,121,000.00), with interest on the unpaid principal balance, as hereinafter provided.

MULTIFAMILY NOTE FLOATING RATE
Multifamily Note • January 4th, 2018 • Steadfast Apartment REIT, Inc. • Real estate investment trusts

FOR VALUE RECEIVED, STAR MONTICELLO, LLC, a Delaware limited liability company (together with such party’s or parties’ successors and assigns, “Borrower”) jointly and severally (if more than one), promises to pay to the order of PNC BANK, NATIONAL ASSOCIATION, a national banking association, the principal sum of $41,445,000.00, with interest on the unpaid principal balance, as hereinafter provided.

MULTIFAMILY NOTE FIXED RATE DEFEASANCE
Multifamily Note • November 9th, 2018 • Resource Apartment REIT III, Inc. • Real estate investment trusts

FOR VALUE RECEIVED, RRE MATTHEWS RESERVE HOLDINGS, LLC, a Delaware limited liability company (together with such party’s or parties’ successors and assigns, “Borrower”) jointly and severally (if more than one) promises to pay to the order of CBRE CAPITAL MARKETS, INC., a Texas corporation, the principal sum of $23,850,000.00, with interest on the unpaid principal balance, as hereinafter provided.

MULTIFAMILY NOTE-CME MULTISTATE – FIXED RATE (REVISION DATE 6-1-2010)
Multifamily Note • May 6th, 2011 • Century Properties Fund Xvii • Real estate

FOR VALUE RECEIVED, the undersigned (together with such party’s or parties’ successors and assigns, “Borrower”) jointly and severally (if more than one) promises to pay to the order of KEYCORP REAL ESTATE CAPITAL MARKETS, INC., an Ohio corporation, the principal sum of Twelve Million Eight Hundred Sixty-Nine Thousand and No/100ths Dollars (US $12,869,000), with interest on the unpaid principal balance, as hereinafter provided.

MULTIFAMILY NOTE MULTISTATE – FIXED RATE (REVISION DATE 2-15-2008)
Multifamily Note • March 17th, 2010 • Shelter Properties Ii LTD Partnership • Real estate

THIS AMENDED AND RESTATED MULTIFAMILY NOTE (“Amended and Restated Note”) is made effective as of the 11th day of March, 2010, by SHELTER PROPERTIES II LIMITED PARTNERSHIP,a South Carolina limited partnership ("Borrower")and the FEDERAL HOME LOAN MORTGAGE CORPORATION (“Lender”).

MULTIFAMILY NOTE (MULTISTATE)
Multifamily Note • May 15th, 2000 • Sunrise Assisted Living Inc • Services-nursing & personal care facilities
MULTIFAMILY NOTE MULTISTATE – ADJUSTABLE RATE (REVISION DATE 08-10-2009)
Multifamily Note • January 21st, 2011 • KBS Legacy Partners Apartment REIT, Inc. • Real estate investment trusts

FOR VALUE RECEIVED, the undersigned (together with such party’s or parties’ successors and assigns, “Borrower”), jointly and severally (if more than one) promises to pay to the order of CBRE CAPITAL MARKETS, INC., a Texas corporation, the principal sum of TWENTY THREE MILLION FOUR HUNDRED SEVENTY FIVE THOUSAND and 00/100 DOLLARS (US $23,475,000.00), with interest on the unpaid principal balance, as hereinafter provided.

MULTIFAMILY NOTE (MULTISTATE)
Multifamily Note • November 12th, 1998 • Fox Strategic Housing Income Partners • Real estate
MULTIFAMILY NOTE
Multifamily Note • May 5th, 2020

FOR VALUE RECEIVED, the undersigned (“Borrower”) promises to pay to the order of the CITY OF SAN JOSE, a municipal corporation and charter city of the State of California (“Governmental Lender”), the maximum principal sum of [ Dollars and No/100] ($[ ]), with interest on the unpaid principal balance from time to time outstanding at the annual rate as set forth on Schedule A.

1 EXHIBIT 2 MULTIFAMILY NOTE
Multifamily Note • April 13th, 2001 • Historic Preservation Properties 1989 Limited Partnership • Real estate
MULTIFAMILY NOTE
Multifamily Note • April 15th, 2005 • American Community Properties Trust • Land subdividers & developers (no cemeteries)

FOR VALUE RECEIVED, the undersigned ("Borrower") jointly and severally (if more than one) promises to pay to the order of PRUDENTIAL MULTIFAMILY MORTGAGE, INC., a Delaware corporation, the principal sum of THREE MILLION SIX HUNDRED FORTY THOUSAND AND 00/100 DOLLARS (US $3,640,000.00), with interest accruing on the unpaid principal balance from the date of disbursement until fully paid at the annual rate of Five and 49/100 percent (5.49%).

MULTIFAMILY NOTE FLOATING RATE (Revised 6-15-2020)
Multifamily Note • June 9th, 2020

FOR VALUE RECEIVED, _________________________________________ (together with such party’s or parties’ successors and assigns, “Borrower”) jointly and severally (if more than one), promises to pay to the order of ____________________, a _____________________, the principal sum of $___________________, with interest on the unpaid principal balance, as hereinafter provided.

MULTIFAMILY NOTE (MULTISTATE)
Multifamily Note • November 12th, 1998 • Century Properties Fund Xviii • Real estate
MULTIFAMILY NOTE MULTISTATE – FIXED RATE (REVISION DATE 6-1-2010)
Multifamily Note • May 6th, 2011 • Emeritus Corp\wa\ • Services-nursing & personal care facilities

FOR VALUE RECEIVED, the undersigned (together with such party's or parties' successors and assigns, "Borrower") jointly and severally (if more than one) promises to pay to the order of OAK GROVE COMMERCIAL MORTGAGE, LLC, a Delaware limited liability company, the principal sum of Eleven Million Six Hundred Fifty Thousand and No/100 Dollars ($11,650,000.00), with interest on the unpaid principal balance, as hereinafter provided.

MULTIFAMILY NOTE (WASHINGTON)
Multifamily Note • March 31st, 1999 • United Investors Growth Properties • Real estate
MULTIFAMILY NOTE MULTISTATE — FIXED TO FLOAT (REVISION DATE 03-30-2006)
Multifamily Note • June 14th, 2006 • Capital Senior Living Corp • Services-nursing & personal care facilities

FOR VALUE RECEIVED, the undersigned (together with such party’s or parties’ successors and assigns, “Borrower”), jointly and severally (if more than one) promises to pay to the order of CAPMARK FINANCE INC., a California corporation, the principal sum of Eight Million Six Hundred Eighty-Five Thousand and 00/100 Dollars (US $8,685,000.00), with interest on the unpaid principal balance, as hereinafter provided.

MARYLAND AMENDED AND RESTATED MULTIFAMILY NOTE (Revised 3-1-2014)
Multifamily Note • November 10th, 2020
MULTIFAMILY NOTE
Multifamily Note • September 17th, 2020

FOR VALUE RECEIVED, the undersigned, the party or parties having one hundred percent (100%) of the beneficial interest and one hundred percent (100%) of the power of direction in, to and under the trust agreement referred to in this paragraph of this Note (the "Co-Maker") and _______________________, not personally or individually, but solely as Trustee under the provisions of that certain Trust Agreement dated ________ ____, ____ and known as Trust No. _________ (the "Land Trustee") (the Co-Maker and the Land Trustee may be referred to collectively as the "Borrower") jointly and severally promise to pay to the order of _______________________________________________________________________, a ________________________________________________________, the principal sum of ____________________________________________________________ __________________________ Dollars (US $____________________), with interest on the unpaid principal balance at the annual rate of __________________ percent

MULTIFAMILY NOTE (MULTISTATE – REVISION DATE 11-01-2000)
Multifamily Note • December 6th, 2007 • Maxus Realty Trust 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 NORTHLAND / MARQUETTE CAPITAL GROUP, INC., a Minnesota corporation, the principal sum of Five Million Two Hundred Fifty Thousand and no/100 Dollars (US $5,250,000.00) with interest on the unpaid principal balance at the annual rate of seven and twenty-two one hundredths percent (7.22%).

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VIRGINIA AMENDED AND RESTATED MULTIFAMILY NOTE (Revised 5-1-2015)
Multifamily Note • July 24th, 2019 • Resource Apartment REIT III, Inc. • Real estate investment trusts

THIS VIRGINIA AMENDED AND RESTATED MULTIFAMILY NOTE is made and entered into as of the 24th day of June, 2019, from RRE SUMMIT HOLDINGS, LLC, a Delaware limited liability company (“Borrower”) to CBRE CAPITAL MARKETS, INC., a Texas corporation (“Lender”).

MULTIFAMILY NOTE (CME) MULTISTATE – FIXED RATE DEFEASANCE (Revised 10-24-2013)
Multifamily Note • January 3rd, 2014 • Independence Realty Trust, Inc • Real estate investment trusts

FOR VALUE RECEIVED, BERKSHIRE SQUARE LLC, an Indiana limited liability company, and BERKSHIRE II CUMBERLAND, LLC, an Indiana limited liability company, as co-borrowers, (together with such party’s or parties’ successors and assigns, individually and collectively, “Borrower”) jointly and severally (if more than one) promises to pay to the order of GRANDBRIDGE REAL ESTATE CAPITAL LLC, a North Carolina limited liability company, the principal sum of $8,612,000.00, with interest on the unpaid principal balance, as hereinafter provided.

MULTIFAMILY NOTE FLOATING RATE - VALUE-ADD TRANSACTION (30-DAY AVERAGE SOFR) (Revised 08-03-2020)
Multifamily Note • July 27th, 2020

FOR VALUE RECEIVED, _________________________________________ (together with such party’s or parties’ successors and assigns, “Borrower”) jointly and severally (if more than one), promises to pay to the order of ____________________, a _____________________, the principal sum of $___________________, with interest on the unpaid principal balance, as hereinafter provided.

MULTIFAMILY NOTE MULTISTATE – ADJUSTABLE RATE (Portfolio Execution) (Revised 2-15-2011)
Multifamily Note • April 21st, 2011 • Preferred Apartment Communities Inc • Real estate investment trusts

FOR VALUE RECEIVED, STONE RISE APARTMENTS, LLC, a Delaware limited liability company (together with such party’s or parties’ successors and assigns, “Borrower”), jointly and severally (if more than one) promises to pay to the order of JONES LANG LASALLE OPERATIONS, L.L.C., an Illinois limited liability company, the principal sum of $19,500,000.00, with interest on the unpaid principal balance, as hereinafter provided.

MULTIFAMILY NOTE FLOATING RATE (30-DAY AVERAGE SOFR) (Revised 08-03-2020)
Multifamily Note • July 15th, 2020

FOR VALUE RECEIVED, _________________________________________ (together with such party’s or parties’ successors and assigns, “Borrower”) jointly and severally (if more than one), promises to pay to the order of ____________________, a _____________________, the principal sum of $___________________, with interest on the unpaid principal balance, as hereinafter provided.

FLORIDA AMENDED AND RESTATED MULTIFAMILY NOTE (Revised 7-17-2014)
Multifamily Note • November 3rd, 2017 • Bluerock Residential Growth REIT, Inc. • Real estate investment trusts

THIS FLORIDA AMENDED AND RESTATED MULTIFAMILY NOTE (“Note”) is made and entered into as of the 30th day of October, 2017, from BR HUNTERS CREEK, LLC, a Delaware limited liability company (“Borrower”) to WALKER & DUNLOP, LLC, a Delaware limited liability company (“Lender”).

MULTIFAMILY NOTE (CME) MULTISTATE – FIXED RATE DEFEASANCE (Revised 2-2-2012)
Multifamily Note • April 16th, 2012 • KBS Legacy Partners Apartment REIT, Inc. • Real estate investment trusts

FOR VALUE RECEIVED, KBS LEGACY PARTNERS PIKESVILLE LLC, a Delaware limited liability company (together with such party’s or parties’ successors and assigns, “Borrower”), jointly and severally (if more than one) promises to pay to the order of CBRE CAPITAL MARKETS, INC., a Texas corporation, the principal sum of $47,905,000.00, with interest on the unpaid principal balance, as hereinafter provided.

VIRGINIA AMENDED AND RESTATED MULTIFAMILY NOTE (Revised 5-1-2015)
Multifamily Note • November 7th, 2020
MULTIFAMILY NOTE
Multifamily Note • March 14th, 2013 • Assisted Living Concepts Inc • Services-nursing & personal care facilities • Texas
MULTIFAMILY NOTE FLOATING RATE - VALUE-ADD TRANSACTION
Multifamily Note • February 2nd, 2017 • KBS Strategic Opportunity REIT II, Inc. • Real estate investment trusts

FOR VALUE RECEIVED, NOHO COMMONS PACIFIC OWNER LLC, a Delaware limited liability company (together with such party’s or parties’ successors and assigns, “Borrower”) jointly and severally (if more than one), promises to pay to the order of WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, the principal sum of $72,100,000.00, with interest on the unpaid principal balance, as hereinafter provided.

AMENDED AND RESTATED MULTIFAMILY NOTE
Multifamily Note • November 9th, 2007 • Emeritus Corp\wa\ • Services-nursing & personal care facilities

THIS AMENDED AND RESTATED MULTIFAMILY NOTE is made and entered into as of the 31st day of August, 2007, by and between MERIWEG-SYRACUSE, LLC, a Delaware limited liability company (“Borrower”) and RED MORTGAGE CAPITAL, INC., an Ohio corporation (“Lender”).

Multifamily Note – Fixed Rate (Revised 6-14-2022) Borrower: Lender: Effective Date:
Multifamily Note • June 9th, 2022

FOR VALUE RECEIVED, Borrower (jointly and severally if more than one), promises to pay to the order of Lender the Loan Amount shown below, plus interest, according to the terms provided in this Multifamily Note (“Note”). Capitalized terms used but not defined in this Note, including those set forth in the tables in Section 1 of this Note, will have the meanings given to such terms in the Loan Agreement. “Loan Agreement” means the Multifamily Loan and Security Agreement by and between Borrower and Lender, effective as of the Effective Date, as amended, modified, or supplemented from time to time.

MULTIFAMILY NOTE FLOATING RATE (Revised 5-5-2017)
Multifamily Note • September 28th, 2017 • Resource Apartment REIT III, Inc. • Real estate investment trusts

FOR VALUE RECEIVED, RRE BAY CLUB HOLDINGS, LLC, a Delaware limited liability company (together with such party’s or parties’ successors and assigns, “Borrower”) jointly and severally (if more than one) promises to pay to the order of CBRE CAPITAL MARKETS, INC., a Texas corporation, the principal sum of $21,520,000.00, with interest on the unpaid principal balance, as hereinafter provided.

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