Exhibit


EXHIBIT 10.7


	
	
	Freddie Mac Loan Numbers:  70864428, 708644090, 708644384 and 708644082

	Freddie Mac Deal Number:  150801

	Freddie Mac Rollup Number:  504194674








SECOND ALLONGE AND AMENDMENT TO MULTIFAMILY REVOLVING CREDIT NOTE




THIS SECOND ALLONGE AND AMENDMENT TO  MULTIFAMILY REVOLVING CREDIT NOTE (this “Allonge and Amendment”), dated effective as of September 23, 2015, is made a part of that certain $350,000,000.00 Multifamily Revolving Credit Note dated as of August 26, 2015, by STAR DELANO, LLC, a Delaware limited liability company (“STAR Delano”) and STAR MEADOWS, LLC, a Delaware limited liability company (“STAR Meadows”) in favor of PNC BANK, NATIONAL ASSOCIATION, a national banking association, its successors and assigns (“Lender”) as amended by that certain Allonge and Amendment to Revolving Credit Note among STAR Delano, STAR Meadows, STAR Cumberland, LLC, a Delaware limited liability company (“STAR Cumberland”) and Lender dated as of September 3, 2015 (as may be further amended from time to time, the “Note”).  Capitalized terms used but not defined herein have the meanings given to those terms in the Note and the Credit Agreement. 


		
	1.
	From and after the effective date of this Allonge and Amendment, STAR MONTICELLO, LLC, a Delaware limited liability company (“STAR Monticello”) is and shall be a “Borrower” under the Note.  STAR Monticello, by its execution and delivery of this Allonge and Amendment, acknowledges and agrees that it has unconditionally assumed, jointly and severally with all other current and future parties comprising “Borrower” under the Note, all obligations of Borrower under the Note, and that it shall pay the Indebtedness and when required by the Note.




		
	2.
	The Note is hereby amended as follows:




Schedule A is revised as shown on Exhibit A attached hereto.


		
	3.
	This Allonge and Amendment is not intended to create a novation, and the Note remains in full force and effect.  Nothing herein constitutes a release or discharge of the Note or of any of the obligations of any party thereunder. This Allonge and Amendment shall be attached to and made part of the Note.







	
			
	Second Allonge and Amendment to Multifamily Revolving Credit Note
	 
	Page 1





 








IN WITNESS WHEREOF, the parties have executed this Allonge and Amendment as of the day and year first above written.  The parties intend that this Allonge and Amendment shall be deemed to be signed and delivered as a sealed instrument.






[END OF PAGE – SIGNATURES TO FOLLOW]



	
			
	Second Allonge and Amendment to Multifamily Revolving Credit Note
	 
	Page 2





 








STAR MONTICELLO:


STAR MONTICELLO, LLC, a Delaware limited liability company


		
	By:
	Steadfast Apartment Advisor, LLC, a Delaware limited liability company, its Manager




	
			
	By:
	 
	/s/ Kevin J.Keating

	 
	 
	Name: Kevin J. Keating

	 
	 
	Title: Treasurer








	
		
	36-4769184

	Borrower's Social Security

	or Taxpayer Identification No.















	
			
	Second Allonge and Amendment to Multifamily Revolving Credit Note
	 
	Page 3





 








STAR DELANO:


STAR DELANO, LLC, a Delaware limited liability company


		
	By:
	Steadfast Apartment Advisor, LLC, a Delaware limited liability company, its Manager




	
			
	By:
	 
	/s/ Kevin J.Keating

	 
	 
	Name: Kevin J. Keating

	 
	 
	Title: Treasurer








	
		
	36-4769184

	Borrower's Social Security

	or Taxpayer Identification No.











	
			
	Second Allonge and Amendment to Multifamily Revolving Credit Note
	 
	Page 4





 








STAR MEADOWS:


STAR MEADOWS, LLC, a Delaware limited liability company


		
	By:
	Steadfast Apartment Advisor, LLC, a Delaware limited liability company, its Manager




	
			
	By:
	 
	/s/ Kevin J.Keating

	 
	 
	Name: Kevin J. Keating

	 
	 
	Title: Treasurer








	
		
	36-4769184

	Borrower's Social Security

	or Taxpayer Identification No.













	
			
	Second Allonge and Amendment to Multifamily Revolving Credit Note
	 
	Page 5





 








STAR CUMBERLAND:


STAR CUMBERLAND, LLC, a Delaware limited liability company


		
	By:
	Steadfast Apartment Advisor, LLC, a Delaware limited liability company, its Manager




	
			
	By:
	 
	/s/ Kevin J.Keating

	 
	 
	Name: Kevin J. Keating

	 
	 
	Title: Treasurer








	
		
	36-4769184

	Borrower's Social Security

	or Taxpayer Identification No.



















	
			
	Second Allonge and Amendment to Multifamily Revolving Credit Note
	 
	Page 6





 








LENDER:


PNC BANK, NATIONAL ASSOCIATION, a national banking association




	
			
	By:
	 
	/s/ Todd Weaver

	 
	 
	Todd Weaver

	 
	 
	Senior Vice President

















	
			
	Second Allonge and Amendment to Multifamily Revolving Credit Note
	 
	Page 7





 








EXHIBIT A




SCHEDULE A


BASE RATE BORROWING TRANCHES/PRIME RATE BORROWING TRANCHES




	
				
	Date of Advance/ 
Repayment
	Base Rate  
Borrowing Tranche
	Repayment  
Amount
	Principal  
Balance

	August 26, 2015
	$24,450,000.00
	 
	 

	 
	 
	 
	 

	August 26, 2015
	$28,875,000.00
	 
	$53,325,000.00

	 
	 
	 
	 

	September 3, 2015
	$22,125,000.00
	 
	$75,450,000.00

	 
	 
	 
	 

	September 23, 2015
	$39,150,000.00
	 
	$114,600,000.00










	
				
	Date of Advance/ 
Repayment
	Prime Rate  
Borrowing Tranche
	Repayment  
Amount
	Principal  
Balance

	 
	 
	 
	 























	
			
	Second Allonge and Amendment to Multifamily Revolving Credit Note
	 
	Exhibit A