Exhibit 10.74

GENERAL ASSIGNMENT AND ASSUMPTION

(Mezzanine Loan)

COLUMN FINANCIAL, INC., a Delaware corporation (“Assignor”), for good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, hereby grants, sells, transfers, delivers, sets-over and conveys
to LASALLE BANK NATIONAL ASSOCATION, a national banking association, having an
address at 135 S. LaSalle Street, Suite 1640, Chicago, IL 60603, (“Collateral
Agent”), solely as Collateral Agent and Custodian for CPIM STRUCTURED CREDIT
FUND 1500 L.P., CPIM STRUCTURED CREDIT FUND 1000 L.P., CPIM STRUCTURED CREDIT
FUND 20 L.P., and KBS PARK CENTRAL, LLC (collectively, the “Noteholders” and
together with the Collateral Agent, the “Assignee”) all right, title and
interest of Assignor in, to and under or arising out of that certain mezzanine
loan made by Assignor to W2001 Park Central Hotel Senior Mezz L.L.C., a Delaware
limited liability company, in the original principal amount of $58,000,000.00
(the “Mezzanine Loan”), other than Assignor’s interest in the four replacement
promissory notes evidencing the Mezzanine Loan (the “Notes”), one of which has
been assigned to each of the Noteholders, which Mezzanine Loan is evidenced,
secured by and more particularly described in those documents set forth in
Schedule I attached hereto and made a part hereof (collectively, the “Mezzanine
Loan Documents”), TOGETHER WITH all right, title and interest of Assignors in,
to and under or arising out of:

(i) the Mezzanine Loan Documents;

(ii) all guaranties, indemnifications, releases, affidavits, certificates, UCC
insurance policies, certificates of deposit, letters of credit and other
documents executed and/or delivered to Assignor in connection with the Mezzanine
Loan;

(iii) all assignments and/or pledges, whether direct or collateral, of
beneficial or equitable interests, proceeds, royalties, contracts, plans,
specifications, permits, licenses, reserves, holdbacks, escrows, stocks, bonds
and securities made to Assignor in connection with the Mezzanine Loan and other
such assignments of collateral, whether direct or collateral, made to Assignor
in connection with the Mezzanine Loan;

(iv) all modifications, amendments, consolidations, renewals, extensions or
restatements of any of the foregoing; and

(v) all demands, claims, causes of action and judgments relating to any of the
foregoing and all rights accrued or to accrue thereunder.

Assignee hereby accepts the foregoing assignment and assumes, solely as and to
the extent of its rights and obligations as Collateral Agent on behalf of the
Noteholders, all of the rights and obligations of Assignor arising after the
date hereof out of the Mezzanine Loan, the Mezzanine Loan Documents, the
Intercreditor Agreement, and other interests so assigned. Each Noteholder hereby
assumes, severally (in proportion to its Percentage Interest, as defined in the
Noteholders’ Agreement of even date herewith among the Noteholders, Assignor,
and Assignee) and not jointly, all of the rights and obligations of Assignor
arising after the date hereof out of the Mezzanine Loan, the Mezzanine Loan
Documents, the Intercreditor Agreement, and other interests so assigned

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TO HAVE AND TO HOLD the same unto Assignee, its successors and assigns, forever.

It is expressly understood that, except as otherwise expressly set forth herein
and in Schedule II, this Assignment is made by Assignor and assumed and accepted
by Assignee without any guarantee, representation or warranty of any kind on the
part of Assignor and without recourse to Assignor in any event or for any cause,
and Assignee hereby releases Assignor from any and all claims, demands, causes
of action, losses, damages, liabilities, costs and expenses (including, without
limitation, attorneys’ fees and disbursements) suffered or incurred by Assignee
arising from or in connection with the Mezzanine Loan and the Mezzanine Loan
Documents.

Assignor hereby agrees to execute such other assignments, instruments and other
documents as Assignee may reasonably request in confirmation of, and/or in
furtherance of, the assignment made hereunder.

THIS ASSIGNMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
INTERNAL LAWS OF THE STATE OF NEW YORK.

[THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK.]

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IN WITNESS WHEREOF, Assignor and Assignee have duly executed this Assignment as
of the 23rd day of March, 2007.

 

ASSIGNOR:

COLUMN FINANCIAL, INC.,

a Delaware corporation

By:

 

/s/ Authorized Signatory

Name:

 

Title:

 

[additional signature pages follow]

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ASSIGNEE:

LASALLE BANK NATIONAL ASSOCIATION,

a national banking association, as Collateral Agent

By:

 

/s/ Authorized Signatory

Name:

 

Title:

 

[additional signature pages follow]

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CPIM Structured Credit Fund 1500 L.P.

as Initial Note A-1 Holder

By:

  Cambridge Place Investment Management LLP,

Its:

  Investment Manger   By:  

/s/ Authorized Signatory

  Name:  

 

  Title:  

 

  By:  

/s/ Authorized Signatory

  Name:  

 

  Title:  

 

[additional signature pages follow]

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CPIM Structured Credit Fund 1000 L.P.

As Initial Note A-2 Holder

By:

  Cambridge Place Investment Management LLP,

Its:

  Investment Manger   By:  

/s/ Authorized Signatory

  Name:  

 

  Title:  

 

  By  

/s/ Authorized Signatory

  Name:  

 

  Title:  

 

[additional signature pages follow]

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CPIM Structured Credit Fund 20 L.P.

as Initial Note A-3 Holder

By:

  Cambridge Place Investment Management LLP,

Its:

  Investment Manger   By:  

/s/ Authorized Signatory

  Name:  

 

  Title:  

 

  By:  

/s/ Authorized Signatory

  Name:  

 

  Title:  

 

[additional signature page follows]

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KBS PARK CENTRAL, LLC,

a Delaware limited liability company

as Initial Note A-4 Holder

By:

  KBS REIT ACQUISITION VII, LLC,  

a Delaware limited liability company,

 

its sole member

  By:   KBS LIMITED PARTNERSHIP,    

a Delaware limited partnership,

   

its sole member

    By:  

KBS REAL ESTATE

INVESTMENT TRUST, INC.,

     

a Maryland corporation,

     

its general partner

     

By:

 

/s/ Charles J. Schreiber, Jr.

      Name:   Charles J. Schreiber, Jr.       Title:   Chief Executive Officer