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Exhibit 10.2
 
QAD Ortega Hill, LLC

 
Real Estate Term Loan:  353914-01
 
REAL ESTATE TERM LOAN NOTE
 
$16,053,651.44
May 30, 2012

 
FOR VALUE RECEIVED, the undersigned (“Borrower”), hereby promises to pay to the
order of RABOBANK, N.A., a national banking association (“Lender”) the principal
sum of Sixteen Million Fifty-Three Thousand Six Hundred Fifty-One and 44/100
Dollars and Five Cents ($16,053,651.44) and interest at the rate specified in
the Credit Agreement between Borrower and Lender dated as of the date hereof
(the "Credit Agreement").  Principal and interest are payable to Lender at the
times specified in the Credit Agreement.  All payments shall be made to Lender
in lawful money of the United States of America at 1498 Main Street, El Centro,
CA 92243, or such other place as Lender directs, in same day funds.  Each
capitalized term used in this note that is defined in the Credit Agreement will
have the meaning specified in the Credit Agreement.  This note will be
interpreted in accordance with the Drafting Conventions.
 
This note is referred to in, and is subject to the terms and conditions of the
Credit Agreement.  Without limitation, the Credit Agreement contains provisions
for acceleration of the maturity hereof upon the occurrence of certain stated
events.
 
This note is secured by the Collateral Documents and all Liens upon and security
interests created under any other written instrument or agreement stating
expressly that it secures the indebtedness, liabilities or obligations of
Borrower under the terms and conditions of the Credit Agreement.
 
Borrower has signed this note effective as of the day and year first written
above.
 
BORROWER
 

  QAD ORTEGA HILL, LLC, a Delaware limited liability company        
By:
/s/ John Neale
   
JOHN NEALE
   
Manager
       
By:
/s/  Kara Bellamy
   
KARA BELLAMY
   
Manager

 

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