Exhibit 10.1

FIRST AMENDMENT TO PROMISSORY NOTE
MADE BY
KBS LEGACY PARTNERS LIMITED PARTNERSHIP TO
KBS CAPITAL ADVISORS LLC
This First Amendment (this “Amendment”) to that certain Promissory Note (the
“Note”) dated as of October 25, 2010 made by KBS Legacy Partners Limited
Partnership (the “Borrower”) to KBS Capital Advisors LLC, its successors and
assigns (the “Lender”), is entered into effective as of July 25, 2011 (the
“Effective Date”), by and between Borrower and Lender.
RECITALS
WHEREAS, Borrower executed and delivered the Note, a copy of which is attached
hereto as Exhibit A, to represent a loan of $14,000,000, or such lesser amount
as shall equal the outstanding amount of the advances made by the Lender to the
Borrower from time to time under the Note;
WHEREAS, Borrower and Lender now wish to modify the principal amount, maturity
date and certain other terms of the Note to reflect the current arrangement
between the parties.
NOW, THEREFORE, in consideration of the above recitals and the premises and
mutual covenants contained herein, parties hereby agree to make and be legally
bound by the following amendments:
AMENDMENT
1.    Principal Reduction. As of the Effective Date hereof, the outstanding
amount of the advances made by the Lender to the Borrower under the Note shall
not exceed $3,000,000.
2.     Amendment to Maturity Date. As of the Effective Date hereof, Section 1
(Maturity) of the Note is amended and restated in its entirety to read as
follows:
“On March 25, 2012 (the “Stated Maturity Date”), all of the obligations of the
Borrower to the Lender, including all outstanding principal, interest and all
other amounts due under this Note, shall be due and payable in full.
Notwithstanding the preceding sentence, if the Lender agrees to extend the
maturity date of the $14.0 million loan between itself and Wells Fargo Bank,
N.A., dated October 25, 2010 (the “Wells Fargo Loan”), the Stated Maturity Date
shall be automatically extended to the extended maturity date of the Wells Fargo
Loan without any further action.”
3.    Extension Fee. On the Effective Date, the Borrower agrees to pay to the
Lender a non-refundable extension fee in the amount of $10,000 (the “Extension
Fee”). To the extent that the Extension Fee, or any part thereof, is not paid on
the date of the execution and delivery

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of this Amendment, such outstanding unpaid balance of the Extension Fee shall be
added to the outstanding principal balance of the Note
4.    Ability to Reborrow. As of the Effective Date hereof, subject to the terms
of Section 4 (Prepayment) of the Note, the Borrower may borrow, repay and
reborrow, and the Lender may advance and readvance under the Note from time to
time until the Stated Maturity Date of the Note (each an “Advance” and together
the “Advances”), so long as the total principal balance outstanding under this
Note at any one time does not exceed the principal amount stated in Section 1
(Principal Reduction) of this Amendment. The Lender's obligation to make
Advances under the Note shall terminate upon the occurrence of a Default under
the Note.
5.    No Other Amendments. Except as otherwise provided in this Amendment, in
all other respects the terms and provisions of the Note shall remain in full
force and effect.
6.    Counterparts. This Amendment may be executed in any number of counterparts
and by different parties in separate counterparts, each of which when so
executed and delievered shall be deemed to be an original and all of such
counterparts taken together shall constitute but one and the same instrument.
Facsimile signature are for all purposes acceptable and binding.
Signature page follows.

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IN WITNESS WHEREOF, Borrower and Lender have executed this Amendment as of the
date first written above.

Borrower:
KBS Legacy Partners Limited Partnership

By:
KBS Legacy Partners Apartment REIT, Inc.,

its sole general partner

By:
/s/ C. Preston Butcher    

C. Preston Butcher
Chief Executive Officer    

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Lender:
KBS Capital Advisors

By:
Schreiber Real Estate Investment, L.P., a

manager

By:
/s/ Charles J. Schreiber, Jr.    

Charles J. Schreiber, Jr.
Manager

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EXHIBIT A
PROMISSORY NOTE