Exhibit 10.4
 
 MULTIFAMILY MORTGAGE  ASSIGNMENT OF LEASES AND RENTS,
SECURITY AGREEMENT
AND FIXTURE FILING
 (KANSAS)
 Fannie Mae Multifamily Security Instrument 
Kansas
    
    Form 6025.KS
01-11
    
    © 2011 Fannie Mae




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TABLE OF CONTENTS
 PAGE1.
    
    
    DEFINED TERMS
    
    
    22.
    
    
    SECURITY AGREEMENT; FIXTURE FILING
    
    
    63.
    
    
    ASSIGNMENT OF LEASES AND RENTS; APPOINTMENT OF
RECEIVER;
LENDER IN POSSESSION
    
    
    74.
    
    
    PROTECTION OF LENDERS SECURITY
    
    
    105.
    
    
    NO OTHER INDEBTEDNESS AND MEZZANINE FINANCING
    
    
    116.
    
    
    DEFAULT; ACCELERATION; REMEDIES
    
    
    117.
    
    
    WAIVER OF STATUTE OF LIMITATIONS AND MARSHALING
    
    
    138.
    
    
    WAIVER OF REDEMPTION; RIGHTS OF TENANTS
    
    
    139.
    
    
    NOTICE
    
    
    1410.
    
    
    MORTGAGEE-IN-POSSESSION
    
    
    1511.
    
    
    RELEASE
    
    
    1512.
    
    
    GOVERNING LAW; CONSENT TO JURISDICTION AND VENUE
    
    
    1513.
    
    
    MISCELLANEOUS PROVISIONS
    
    
    1514.
    
    
    TIME IS OF THE ESSENCE
    
    
    1715.
    
    
    WAIVER OF TRIAL BY JURY
    
    
    1716.
    
    
    ACKNOWLEDGMENT OF RECEIPT
    
    
    17
 Fannie Mae Multifamily Security Instrument 
Kansas
    
    Form 6025.KS
01-11
    
    Page i
© 2011 Fannie Mae




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MULTIFAMILY MORTGAGE  ASSIGNMENT OF LEASES AND RENTS,
SECURITY AGREEMENT
AND FIXTURE FILING
 Security Instrument Borrower Lender
 Mortgage Loan Note Loan Agreement Exhibit A Land
  Fannie Mae Multifamily Security Instrument 
Kansas
    
    Form 6025.KS
01-11
    
    Page 1
© 2011 Fannie Mae




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1. Defined Terms.
  Condemnation Action
 Enforcement Costs
 Environmental Indemnity Agreement
 Environmental Laws
 Event of Default
 Fixtures
 Goods
 Fannie Mae Multifamily Security Instrument 
Kansas
    
    Form 6025.KS
01-11
    
    Page 2
© 2011 Fannie Mae




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Imposition Deposits
 Impositions
     Improvements
 Indebtedness
 Land Exhibit A
 Fannie Mae Multifamily Security Instrument 
Kansas
    
    Form 6025.KS
01-11
    
    Page 3
© 2011 Fannie Mae




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Leases
 Lien
 Mortgaged Property
        Fannie Mae Multifamily Security Instrument 
Kansas
    
    Form 6025.KS
01-11
    
    Page 4
© 2011 Fannie Mae




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Permitted Encumbrance
 Personalty
 Fannie Mae Multifamily Security Instrument 
Kansas
    
    Form 6025.KS
01-11
    
    Page 5
© 2011 Fannie Mae




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Prepayment Premium
 Property Jurisdiction
 Rents
 Software
 Taxes
 Title Policy
 UCC
 UCC Collateral
 2. Security Agreement; Fixture Filing.
  Fannie Mae Multifamily Security Instrument 
Kansas
    
    Form 6025.KS
01-11
    
    Page 6
© 2011 Fannie Mae




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3. Assignment of Leases and Rents; Appointment of Receiver; Lender in Possession.
  Fannie Mae Multifamily Security Instrument 
Kansas
    
    Form 6025.KS
01-11
    
    Page 7
© 2011 Fannie Mae




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Fannie Mae Multifamily Security Instrument 
Kansas
    
    Form 6025.KS
01-11
    
    Page 8
© 2011 Fannie Mae




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ex parte
   Fannie Mae Multifamily Security Instrument 
Kansas
    
    Form 6025.KS
01-11
    
    Page 9
© 2011 Fannie Mae




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4. Protection of Lenders Security.
   Fannie Mae Multifamily Security Instrument 
Kansas
    
    Form 6025.KS
01-11
    
    Page 10
© 2011 Fannie Mae




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5. No Other Indebtedness and Mezzanine Financing.
  6. Default; Acceleration; Remedies.
  Fannie Mae Multifamily Security Instrument 
Kansas
    
    Form 6025.KS
01-11
    
    Page 11
© 2011 Fannie Mae




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Fannie Mae Multifamily Security Instrument 
Kansas
    
    Form 6025.KS
01-11
    
    Page 12
© 2011 Fannie Mae




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7. Waiver of Statute of Limitations and Marshaling.
  8. Waiver of Redemption; Rights of Tenants.
   Fannie Mae Multifamily Security Instrument 
Kansas
    
    Form 6025.KS
01-11
    
    Page 13
© 2011 Fannie Mae




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9. Notice.
        Fannie Mae Multifamily Security Instrument 
Kansas
    
    Form 6025.KS
01-11
    
    Page 14
© 2011 Fannie Mae




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10. Mortgagee-in-Possession.
  11. Release.
  12. Governing Law; Consent to Jurisdiction and Venue.
  13. Miscellaneous Provisions.
  Fannie Mae Multifamily Security Instrument 
Kansas
    
    Form 6025.KS
01-11
    
    Page 15
© 2011 Fannie Mae




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Fannie Mae Multifamily Security Instrument 
Kansas
    
    Form 6025.KS
01-11
    
    Page 16
© 2011 Fannie Mae




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14. Time is of the Essence.
  15. WAIVER OF TRIAL BY JURY.
 TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, EACH OF BORROWER AND LENDER (BY ITS
ACCEPTANCE HEREOF) (A) COVENANTS AND AGREES NOT TO ELECT A TRIAL BY JURY WITH RESPECT TO ANY ISSUE
ARISING OUT OF THIS SECURITY INSTRUMENT OR THE RELATIONSHIP BETWEEN THE PARTIES AS BORROWER AND
LENDER THAT IS TRIABLE OF RIGHT BY A JURY AND (B) WAIVES ANY RIGHT TO TRIAL BY JURY WITH RESPECT TO
SUCH ISSUE TO THE EXTENT THAT ANY SUCH RIGHT EXISTS NOW OR IN THE FUTURE. THIS WAIVER OF RIGHT TO
TRIAL BY JURY IS SEPARATELY GIVEN BY EACH OF BORROWER AND LENDER, KNOWINGLY AND VOLUNTARILY WITH
THE BENEFIT OF COMPETENT LEGAL COUNSEL.
 16. Acknowledgment of Receipt.
  Fannie Mae Multifamily Security Instrument 
Kansas
    
    Form 6025.KS
01-11
    
    Page 17
© 2011 Fannie Mae




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ATTACHED EXHIBITS.
 þ
    
    Exhibit A Description of the Land (required)þ
    
    Exhibit B Modifications to Security Instrument (Tax Credit Properties)
 [Remainder of Page Intentionally Blank]
 Fannie Mae Multifamily Security Instrument
    
    Form 6025.KS
    
    Page 18Kansas
    
    01-11
    
    © 2011 Fannie Mae




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IN WITNESS WHEREOF
 BORROWER:
SIR CLARION PARK, LLC,
a Delaware limited liability companyBy:
    Steadfast Income Advisor, LLC,a Delaware limited liability companyIts:
    ManagerBy:
    /s/ Ana Marie del RioName:
    Ana Marie del RioTitle:
    Secretary SIR CLARION PARK, LLC
 
 PNC BANK, NATIONAL ASSOCIATION
 
 Fannie Mae Multifamily Security Instrument
    
    Form 6025.KS
    
    Page S-1Kansas
    
    01-11
    
    © 2011 Fannie Mae




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ACKNOWLEDGEMENT
 STATE OF CALIFORNIA
    
    
    ))
    
    
    SS.COUNTY OF ORANGE
    
    
    )
 Ana Marie del
Rio
   /s/ Mary L. KellyNotary Public  Fannie Mae Multifamily Security Instrument
    
    Form 6025.KSKansas
    
    01-11
    
    © 2011 Fannie Mae




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DESCRIPTION OF THE LAND
     Fannie Mae Multifamily Security Instrument
    
    Form 6025.KS
    
    Page A-1Kansas
    
    01-11
    
    © 2011 Fannie Mae




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EXHIBIT B
 MODIFICATIONS TO SECURITY INSTRUMENT
(Tax Credit Properties)
    Extended Use Agreement
  17. Extended Low-Income Housing Commitment.
  18. Cross-Default.
  ADRBorrower Initials Fannie Mae Multifamily Security Instrument
    
    Form 6025.KS
    
    Page A-2Kansas
    
    01-11
    
    © 2011 Fannie Mae