Promissory Note



 Exhibit 10.22 
 PROMISSORY NOTE 
  

			
	$46,100,000.00	  	November 18, 2011

 For value received, JP-KBS RICHARDSON HOLDINGS, LLC, a Delaware limited liability
company (“Borrower”), promises and agrees to pay to the order of GENERAL ELECTRIC CAPITAL CORPORATION, a Delaware corporation (“Lender”), in lawful money of the United States of America, the
principal sum of FORTY-SIX MILLION ONE HUNDRED THOUSAND AND NO/100 DOLLARS ($46,100,000.00) or so much thereof as may be outstanding under the Loan Agreement of even date herewith between Borrower and Lender (the “Loan
Agreement”), with interest on the unpaid principal sum owing thereunder at the rate or rates or in the amounts computed in accordance with the Loan Agreement, together with all other amounts due Lender under the Loan Agreement, all
payable in the manner and at the time or times provided in the Loan Agreement. Capitalized terms used herein, but not defined, shall have the meanings assigned to them in the Loan Agreement. 

If not sooner due and payable in accordance with the Loan Agreement, Borrower shall pay to Lender all amounts due and
unpaid under the Loan Agreement on November 30, 2015, or on any earlier Maturity Date as set forth in the Loan Agreement. Unless otherwise specified in writing by Lender, all payments hereunder shall be paid to Lender at GEMSA Loan Services,
L.P., File 55307, Los Angeles, California 90074-5307. Lender reserves the right to require any payment on this Note, whether such payment is a regular installment, prepayment or final payment, to be by wired federal funds or other immediately
available funds. All payments to Lender shall be drawn on an account owned by Borrower or another Person approved in writing in advance by Lender and maintained at a banking institution organized under the laws of the United States or one of its
constituent States, or at a federally regulated securities broker dealer. 
 Borrower, co makers, sureties,
endorsers and guarantors, and each of them, expressly waive demand and presentment for payment, notice of nonpayment, protest, notice of protest, notice of dishonor, notice of intent to accelerate the maturity hereof, notice of the acceleration of
the maturity hereof, bringing of suit and diligence in taking any action to collect amounts called for hereunder and in the handling of securities at any time existing in connection herewith; such parties are and shall be jointly, severally,
directly and primarily liable for the payment of all sums owing and to be owing hereon, regardless of and without any notice, diligence, act or omission as or with respect to the collection of any amount called for hereunder or in connection with
any right, lien, interest or property at any and all times had or existing as security for any amount called for hereunder. 
 This Note evidences all advances made, interest due and all amounts otherwise owed to Lender under the Loan Agreement. This Note is executed in conjunction with the Loan Agreement and is secured by the
liens and security interests created under the Loan Documents (including those arising under the Mortgage). Reference is made to the Loan Agreement for provisions relating to repayment of the indebtedness evidenced by this Note, including mandatory
repayment, acceleration following default, late charges, default rate of interest, limitations on interest, restrictions on prepayment, and participation interest (if any). 
  

  

					
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 Borrower’s liability hereunder is subject to the limitation on
liability provisions of Article 13 of the Loan Agreement. This Note has been executed and delivered in and shall be construed in accordance with and governed by the laws of the State of Texas and of the United States of America; however, in no
event shall the provisions of Chapter 346 of the Texas Finance Code (which regulates certain revolving credit loan accounts and revolving tri-party accounts) apply to this Note. 

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 Executed as of the date first written above. 

 

					
	 JP-KBS RICHARDSON HOLDINGS, LLC, a Delaware

limited liability company

	By:  	 	 JP-RICHARDSON, LLC, a Delaware limited liability

company, Managing Member

			
		 	By:	 	/s/ Mark D. Jordan
		 		 	Mark D. Jordan, Manager



  
 [Signature
Page-Promissory Note]