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                                                                   EXHIBIT 10.14

                                 PROMISSORY NOTE

$6,706,000.00                                                  Chicago, Illinois
                                                                 August 18, 2006

     FOR VALUE RECEIVED, NNN SOUTHPOINTE, LLC, a Delaware limited liability
company, as co-maker, having its principal place of business at 1551 N. Tustin
Avenue, Suite 200, Santa Ana, California 92705 ("Southpointe Borrower") and NNN
CRAWFORDSVILLE, LLC, a Delaware limited liability company, as co-maker, having
its principal place of business at 1551 N. Tustin Avenue, Suite 200, Santa Ana,
California 92705 ("Crawfordsville Borrower" and together with Southpointe
Borrower, "Borrower"), hereby unconditionally promise to pay to the order of
LASALLE BANK NATIONAL ASSOCIATION, a national banking association, as payee,
having an address at 135 South LaSalle Street, Suite 3410, Chicago, Illinois
60603 ("Lender"), or at such other place as the holder hereof may from time to
time designate in writing, the principal sum of Six Million Seven Hundred Six
Thousand and NO/100 Dollars ($6,706,000.00) or so much of such amount as is
advanced on the date hereof, in lawful money of the United States of America
with interest thereon to be computed from the date of this Note at the
Applicable Interest Rate (defined below), and to be paid in accordance with the
terms of this Note. On the date hereof Lender shall advance an amount equal to
$4,574,000 contemporaneously with the closing of that certain $9,146,000 loan
(the "Southpointe Senior Loan") made by Lender to Southpointe Borrower and
secured by that certain Mortgage, Security Agreement and Fixture Filing given by
Southpointe Borrower to Lender and encumbering the property described on Exhibit
A thereto (the "Southpointe Property") (the "Southpointe Senior Mortgage").
Contemporaneously with the closing of that certain $4,264,000 loan (the
"Crawfordsville Senior Loan" and together with the Southpointe Senior Loan, the
"Senior Loan") to be made by Lender to Crawfordsville Borrower and secured by
that certain Mortgage, Security Agreement and Fixture Filing given by
Crawfordsville Borrower to Lender and encumbering the property described on
Exhibit A thereto (the "Crawfordsville Property") (the "Crawfordsville Senior
Mortgage") Lender shall advance an additional $2,132,000 hereunder to Borrower.

                             ARTICLE 1 DEFINED TERMS

     For all purposes of this Note, except as otherwise expressly required or
unless the context clearly indicates a contrary intent:

     "Adjusted LIBOR Rate" shall mean, with respect to any applicable Interest
Period through and including the Interest Period, an interest rate per annum
equal to LIBOR plus 3.0% per annum, provided that if the Maturity Date is
extended pursuant to the terms of Section 2(c), the Adjusted LIBOR Rate shall
increase to an interest rate per annum equal to LIBOR plus 4.0% per annum from
the period beginning February 14, 2007 to the Maturity Date, as so extended.

     "Adjusted Prime Rate" shall mean the Prime Rate as such Prime Rate may
change from time to time plus the Prime Rate Spread.

     "Applicable Interest Rate" shall mean (a) from and including the Closing
Date through the last day of the calendar month in which the Closing Date
occurs, an interest rate per annum

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equal to 8.330%; and (b) from and including the first calendar day of each
successive Interest Period through and including the Maturity Date, an interest
rate per annum equal to (i) the Adjusted LIBOR Rate (in all cases where clauses
(ii) and (iii) below do not apply); (ii) the Adjusted Prime Rate, to the extent
provided in accordance with the provisions of Article 3; and (iii) the Default
Rate, to the extent provided in accordance with Article 5.

     "Breakage Costs" shall mean any loss or expense which Lender sustains or
incurs as a consequence of (a) any default by Borrower in payment of the
principal of or interest on the Loan while bearing interest at the Adjusted
LIBOR Rate, including, without limitation, any such loss or expense arising from
interest or fees payable by Lender to lenders of funds obtained by it in order
to maintain the Adjusted LIBOR Rate, (b) any prepayment (whether voluntary or
mandatory) of the Loan on a day that (i) is not the Payment Date immediately
following the last day of an Interest Period with respect thereto or (ii) is the
Payment Date immediately following the last day of an Interest Period with
respect thereto if Borrower did not give the prior written notice of such
prepayment required pursuant to the terms of this Note, including, without
limitation, such loss or expense arising from interest or fees payable by Lender
to lenders of funds obtained by it in order to maintain the Adjusted LIBOR Rate
hereunder and (c) the conversion (for any reason whatsoever, whether voluntary
or involuntary) of the Applicable Interest Rate from the Adjusted LIBOR Rate to
the Adjusted Prime Rate with respect to any portion of the outstanding principal
amount of the Loan then bearing interest at the Eurodollar on a date other than
the date immediately following the last day of an Interest Period, including,
without limitation, such loss or expenses arising from interest or fees payable
or which would be payable by Lender to lenders of funds obtained by it in order
to maintain the Adjusted LIBOR Rate hereunder.

     "Business Day" shall mean a day on which commercial banks are not
authorized or required by law to close in the State of New York.

     "Closing Date" shall mean the date of this Note.

     "Debt Service Coverage Ratio" shall mean the ratio of Net Cash Flow derived
from the Property for the preceding twelve (12) calendar months (unless Borrower
does not have a twelve (12)-month history, in which event it shall be calculated
on an annualized basis after Borrower has at least a three (3)-month operating
history to be annualized) to required annual debt service under the (i) Senior
Loan and (ii) Loan, as determined by Lender each quarter.

     "Determination Date" shall mean the date that is two (2) London Business
Days if the Adjusted LIBOR Rate is in effect, or two (2) Business Days if the
Adjusted Prime Rate is in effect, before the Interest Period for which the
Applicable Interest Rate is being determined.

     "Event of Default" shall have the meaning set forth in Article 4.

     "Foreign Taxes" shall mean, collectively, income, stamp or other taxes,
levies, imposts, duties, charges, fees, deductions, reserves or withholdings
imposed, levied, collected, withheld or assessed by any Governmental Authority,
which are imposed, enacted or become effective after the date hereof.


                                        2

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     "Governmental Authority" shall mean any court, board, agency, commission,
office or authority of any nature whatsoever for any governmental unit (federal,
state, county, district, municipal, city or otherwise) whether now or hereafter
in existence.

     "Interest Period" shall mean, in connection with the calculation of
interest accrued with respect to any specified Payment Date, the period
commencing on the first day of the prior calendar month and ending on the last
day of such prior calendar month.

     "LIBOR" shall mean, with respect to each Interest Period, the rate per
annum equal to the quotient of: (a) with respect to each Interest Period, the
rate determined by Lender to be (i) the per annum rate for deposits in U.S.
dollars for a period equal to the applicable Interest Period, published by
Bloomberg's Financial Markets Commodities News at approximately 8:00 a.m.
Chicago time, on that respective Interest Period's Determination Date (rounded
upwards, if necessary, to the nearest 1/1000 of 1%); (ii) if such rate does not
appear in said Bloomberg's Financial Markets Commodities News, the arithmetic
mean (rounded as aforesaid) of the offered quotations of rates obtained by
Lender from the Reference Banks for deposits in U.S. dollars for a period equal
to the applicable Interest Period to prime banks in the London interbank market
as of approximately 8:00 a.m. Chicago time, on the Determination Date and in an
amount that is representative for a single transaction in the relevant market at
the relevant time; or (iii) if fewer than two (2) Reference Banks provide Lender
with such quotations, the rate per annum which Lender determines to be the
arithmetic mean (rounded as aforesaid) of the offered quotations of rates which
major banks in New York, New York or Chicago, Illinois selected by Lender are
quoting at approximately 8:00 a.m., Chicago time, on the Determination Date for
loans in U.S. dollars to leading European banks for a period equal to the
applicable Interest Period in amounts of not less than U.S. $1,000,000.00; and
(b) a number equal to 1.00 minus the aggregate (without duplication) of the
rates (expressed as a decimal, rounded up to the nearest 1/100 percent) of
reserve requirements applicable to Lender on the Determination Date (including,
without limitation, basic, supplemental, marginal and emergency reserves) under
any regulations of any Governmental Authority as now and from time to time
hereafter in effect, dealing with reserve requirements prescribed for
eurocurrency funding (currently referred to as "Eurocurrency Liabilities" in
Regulation D of the Board of Governors of the Federal Reserve System) maintained
by a member bank of such system. Lender's determination of LIBOR shall be
binding and conclusive on Borrower absent manifest error. LIBOR may or may not
be the lowest rate based upon the market for U.S. Dollar deposits in the London
Interbank Eurodollar Market at which Lender prices loans on the date which LIBOR
is determined by Lender as set forth above.

     "Loan" shall mean the loan made by Lender to Borrower as evidenced by this
Note.

     "Loan Documents" shall mean this Note, the Security Instrument, the Pledge,
and all other agreements, instruments, or documents executed by Borrower or
others and evidencing, securing, guaranteeing, or supporting the Loan.

     "London Business Day" shall mean any day on which commercial banks are open
for business in London and on which dealings in deposits in U.S. dollars are
transacted in the London interbank market.


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     "Maturity Date" shall have the meaning set forth in Article 2.

     "Net Cash Flow": shall mean sustainable underwritable rent and other
collections based upon the preceding twelve (12) calendar month period (unless
Borrower does not have a twelve (12)-month history, in which event it shall be
calculated on an annualized basis after Borrower has at least a three (3)-month
operating history to be annualized) ("Gross Income") adjusted for a minimum
vacancy factor equal to the greater of (a) market vacancy as determined by
Lender, (b) current vacancy at the Property, or (c) 3%, less (i) Operating
Expenses and (ii) an annual adjustment for a structural reserve of not less than
$0.20 per square foot and normalized leasing commissions and tenant improvements
of not less than $0.90 per square foot.

     "Net Sales Proceeds" shall mean the value, as determined by Lender in its
good faith discretion, of any and all consideration received by Borrower in
connection with a sale of an undivided interest in the Property, less the
following costs and expenses to the extent actually incurred by Borrower in
connection with such sale: (a) reasonable and customary brokerage commissions;
(b) the reasonable cost of title insurance purchased for the buyer; (c)
documentary transfer taxes, sales taxes and recording fees; (d) reasonable
escrow fees; and (e) other reasonable closing costs and expenses of the type
customarily incurred by sellers of real property in the market which the
Property is located.

     "Operating Expenses": shall mean the aggregate of the following items: (a)
real estate taxes, general and special assessments or similar charges, other
than Taxes; (b) sales, use and personal property taxes; (c) management fees of
not more than five percent (5%) of the gross income derived from the operation
of the Property and disbursements for management services whether such services
are performed at the Property or off-site; (d) wages, salaries, pension costs
and all fringe and other employee-related benefits and expenses, of all
employees up to and including (but not above) the level of the on-site manager,
engaged in the repair, operation and maintenance of the Property and service to
tenants and on-site personnel engaged in audit and accounting functions
performed by Borrower; (e) insurance premiums including, but not limited to,
casualty, liability, rent and fidelity insurance premiums, other than Insurance
Premiums, if such insurance is purchased on a "blanket" policy basis, it may be
based on a pro rata allocation for the Property; (f) cost of all electricity,
oil, gas, water, steam, HVAC and any other energy, utility or similar item and
overtime services, the cost of building and cleaning supplies, and all other
administrative, management, ownership, operating, advertising, marketing and
maintenance expenses incurred by Borrower (and not paid directly by any tenant)
in connection with the operation of the Property; (g) costs of necessary
cleaning, repair, replacement, maintenance, decoration or painting of existing
improvements on the Property (including, without limitation, parking lots and
roadways), of like kind or quality or such kind or quality which is necessary to
maintain the Property to the same standards as competitive properties of similar
size and location of the Property; (h) the cost of such other maintenance
materials, HVAC repairs, parts and supplies, and all equipment to be used in the
ordinary course of business, which is not capitalized in accordance with
Borrower's approved accounting method for the Property; (i) legal, accounting
and other professional expenses incurred in connection with the Property; and
(j) casualty losses to the extent not reimbursed by a third party. The Operating
Expenses shall be based on the above-described items actually incurred or
payable on an accrual basis in accordance with Borrower's approved accounting
method during the twelve (12) calendar month period ending at the end of the
immediately preceding calendar month prior


                                        4

<PAGE>

to the date on which the Operating Expenses are to be calculated (unless
Borrower does not have a twelve (12)-month history, in which event it shall be
calculated on an annualized basis after Borrower has at least a three (3)-month
operating history to be annualized), with customary adjustments for items such
as taxes and insurance which accrue but are paid periodically, as adjusted by
Lender to reflect projected adjustments for only those items which are
definitively ascertainable and of a fixed amount (for example, real estate
taxes) for the subsequent twelve (12) month period beginning with the calendar
month that the Operating Expenses are to be calculated. Notwithstanding the
foregoing, the term "Operating Expenses" shall not include (i) depreciation or
amortization or any other non-cash item of expense unless approved by Lender,
(ii) interest, principal, fees, costs and expense reimbursements of Lender in
administering the Loan or exercising remedies under this Agreement, the Mortgage
or the other Loan Documents; or (iii) any expenditure properly treated as a
capital item under Borrower's approved accounting method for the Property.

     "Payment Date" shall mean the first day of the second full calendar month
following the date hereof (or if the date hereof is the first day of a calendar
month, the first day of the next full calendar month following the date hereof),
and the first day of every month thereafter, until and including the Maturity
Date.

     "Pledge" shall mean that certain Pledge Agreement dated the date hereof
made by the Sole Member in favor of Lender.

     "Prime Rate" shall means the rate of interest most recently announced by
Lender at Chicago, Illinois as its prime or base rate. A certificate made by an
officer of Lender stating the Prime Rate in effect on any given day, for the
purposes hereof, shall be conclusive evidence of the Prime Rate in effect on
such day. The "Prime Rate" is a base reference rate of interest adopted by
Lender as a general benchmark from which Lender determines the floating interest
rates chargeable on various loans to borrowers with varying degrees of
creditworthiness and Borrower acknowledges and agrees that Lender has made no
representations whatsoever that the "Prime Rate" is the interest rate actually
offered by Lender to borrowers of any particular creditworthiness.

     "Prime Rate Spread" shall mean with respect to any applicable Interest
Period, a spread equal to 3.00% per annum.

     "Property" shall mean collectively, the Southpointe Property and the
Crawfordsville Property.

     "Security Instrument" shall have the meaning set forth in Article 7 hereof.

     "Sole Member" shall mean NNN South Crawford Member, LLC, a Delaware limited
liability company.

     "Solvent" as used herein shall mean both (a) that the financial condition
of Borrower is such that the sum of the Borrower's debts is less than the
aggregate of, at fair valuation, all of the Borrower's property (exclusive of
property transferred, canceled or removed with intent to


                                        5

<PAGE>

hinder, delay or defraud the Borrower's creditors) and (b) that the Borrower is
paying its debts as such debts become due, unless such debts are the subject of
a bona fide dispute.

     "Working Day" shall mean any day on which dealings in foreign currencies
and exchange are carried on in London, England and in New York, New York.

                             ARTICLE 2 PAYMENT TERMS

     (a) Borrower agrees to pay sums under this Note in installments as follows:

          (i) A payment on the date hereof of all interest that will accrue on
the outstanding principal amount of this Note from and after the Closing Date
through and including the last day of the month in which the Closing Date
occurs;

          (ii) A payment of interest only on each Payment Date; and

          (iii) The outstanding principal sum and all interest thereon shall be
due and payable on February 14, 2007 as such date may be extended pursuant to
the terms of (c) below (the "Maturity Date") .

     (b) Interest on the principal sum of this Note shall be calculated at the
Applicable Interest Rate on the basis of a three hundred sixty (360) day year
based on the actual number of days elapsed.

     (c) Provided no Event of Default has occurred, Borrower shall have a single
option to extend the Maturity Date to May 15, 2007 provided the following
conditions are met:

          (i) On or before January 12, 2007 Borrower shall provide written
notice to Lender of its exercise of the option to extend the Maturity Date;

          (ii) Borrower shall pay to Lender an extension fee in an amount equal
to one-half of one percent (0.5%) of the outstanding principal balance of the
Loan; and

          (iii) The minimum combined Debt Service Coverage Ratio, as determined
by Lender, shall be 1.10:1.

                     ARTICLE 3 ADDITIONAL PAYMENT PROVISIONS

     (a) Interest shall be charged and payable on the outstanding principal
amount of the Loan at a rate per annum equal to the Applicable Interest Rate,
but in no event to exceed the maximum rate permitted under applicable law.
Subject to the terms and conditions of the remainder of this Article 3, Borrower
shall pay interest on the outstanding principal amount of the Loan at the
Applicable Interest Rate for the applicable Interest Period. Any change in the
rate of interest hereunder due to a change in the Applicable Interest Rate shall
become effective as of the opening of business on the first day on which such
change in the Applicable Interest Rate shall become effective. Each
determination by Lender of the Applicable Interest Rate shall be conclusive and
binding for all purposes, absent manifest error.


                                        6

<PAGE>

     (b) In the event that Lender shall have reasonably determined (which
determination shall be conclusive and binding upon Borrower absent manifest
error) that by reason of circumstances affecting the interbank eurodollar
market, U.S. dollar deposits, in an amount approximately equal to the
outstanding principal balance of the Loan, are not generally available at such
time in the interbank eurodollar market or that adequate and reasonable means do
not exist for ascertaining LIBOR, then Lender shall forthwith give notice by
telephone of such determination, confirmed in writing, to Borrower at least one
(1) day prior to the last day of the related Interest Period. If such notice is
given, the Loan shall bear interest at the Adjusted Prime Rate beginning on the
first day of the next succeeding Interest Period.

     (c) If, pursuant to the terms of this Note, the Loan is bearing interest at
the Adjusted Prime Rate and Lender shall reasonably determine (which
determination shall be conclusive and binding upon Borrower absent manifest
error) that the event(s) or circumstance(s) which resulted in such conversion
shall no longer be applicable, Lender shall give notice thereof to Borrower by
telephone of such determination, confirmed in writing, to Borrower at least one
(1) day prior to the last day of the related Interest Period. If such notice is
given, the Loan shall bear interest at the Adjusted LIBOR Rate beginning on the
first day of the next succeeding Interest Period. Notwithstanding any provision
of this Note to the contrary, in no event shall Borrower have the right to elect
to have the Loan bear interest at either the Adjusted LIBOR Rate or the Adjusted
Prime Rate.

     (d) If the Loan is bearing interest at the Adjusted LIBOR Rate, all
payments made by Borrower hereunder shall be made free and clear of, and without
reduction for or on account of, Foreign Taxes, excluding, in the case of the
Lender, taxes measured by its net income, and franchise taxes imposed on it, by
the jurisdiction under the laws of which the Lender is organized or any
political subdivision thereof and, in the case of the Lender, taxes measured by
its overall net income, and franchise taxes imposed on it, by the jurisdiction
of the Lender's applicable lending office or any political subdivision thereof.
If any non-excluded Foreign Taxes are required to be withheld from any amounts
payable to Lender hereunder, the amounts so payable to Lender shall be increased
to the extent necessary to yield to Lender (after payment of all non-excluded
Foreign Taxes) interest or any such other amounts payable hereunder at the rate
or in the amounts specified hereunder. Whenever any non-excluded Foreign Tax is
payable pursuant to applicable law by Borrower, as promptly as possible
thereafter, Borrower shall send to Lender an original official receipt, if
available, or certified copy thereof showing payment of such non-excluded
Foreign Tax. Borrower hereby indemnifies Lender for any incremental taxes,
interest or penalties that may become payable by Lender which may result from
any failure by Borrower to pay any such non-excluded Foreign Tax when due to the
appropriate taxing authority or any failure by Borrower to remit to Lender the
required receipts or other required documentary evidence. Lender's inability to
notify Borrower of any such Foreign Tax in accordance with the immediately
preceding sentence shall in no way relieve Borrower of its obligations under
this paragraph.

     (e) If any requirement of law or any change therein, or in the
interpretation or application thereof, shall hereafter make it unlawful for
Lender in good faith to make or maintain the Loan bearing interest at the
Adjusted LIBOR Rate, (i) the obligation of Lender hereunder to make the Loan
bearing interest at the Adjusted LIBOR Rate shall be canceled forthwith and (ii)
the Loan shall automatically bear interest at the Adjusted Prime Rate on the
first day of the next


                                        7

<PAGE>

succeeding Interest Period or within such earlier period as required by law.
Borrower hereby agrees promptly to pay Lender, upon demand, any additional
amounts necessary to compensate Lender for any costs incurred by Lender in
making any conversion in accordance with this Note, including, without
limitation, any interest or fees payable by Lender to lenders of funds obtained
by it in order to make or maintain the Loan hereunder. Upon written demand from
Borrower, Lender shall demonstrate in reasonable detail the circumstances giving
rise to Lender's determination and the calculation substantiating the Adjusted
Prime Rate and any additional costs incurred by Lender in making the conversion,
which, upon written notice thereof from Lender, as certified to Borrower, shall
be conclusive absent manifest error. In the event Lender shall determine in its
good faith (which determination shall be conclusive and binding upon Borrower)
that the aforesaid circumstances no longer exist, the Applicable Interest Rate
shall be converted to the Adjusted LIBOR Rate effective as of the first day of
the next succeeding Interest Period which occurs at least ten (10) Working Days
after such determination by Lender.

     (f) In the event that any change in any requirement of law or in the
interpretation or application thereof, or compliance in good faith by Lender
with any request or directive (whether or not having the force of law) hereafter
issued by any central bank or other Governmental Authority:

          (i) shall hereafter impose, modify or hold applicable any reserve,
special deposit, compulsory loan or similar requirement against assets held by,
or deposits or other liabilities in or for the account of, advances or loans by,
or other credit extended by, or any other acquisition of funds by, any office of
Lender which is not otherwise included in the determination of LIBOR hereunder;

          (ii) shall hereafter have the effect of reducing the rate of return on
Lender's capital as a consequence of its obligations hereunder to a level below
that which Lender could have achieved but for such adoption, change or
compliance (taking into consideration Lender s policies with respect to capital
adequacy) by any amount deemed by Lender to be material; or

          (iii) shall hereafter impose on Lender any other condition and the
result of any of the foregoing is to increase the cost to Lender of making,
renewing or maintaining loans or extensions of credit or to reduce any amount
receivable hereunder, then, in any such case, Borrower shall promptly pay
Lender, upon demand, any additional amounts necessary to compensate Lender for
such additional cost or reduced amount receivable which Lender deems to be
material as determined by Lender. If Lender becomes entitled to claim any
additional amounts pursuant to this Paragraph (f), Lender shall provide Borrower
with not less than ten (10) days written notice specifying in reasonable detail
the event or circumstance by reason of which it has become so entitled and the
additional amount required to fully compensate Lender for such additional cost
or reduced amount. A certificate as to any additional costs or amounts payable
pursuant to the foregoing sentence submitted by Lender to Borrower shall be
conclusive in the absence of manifest error. This provision shall survive
payment of this Note and the satisfaction of all other obligations of Borrower
under this Note, the Security Instrument and the Other Security Documents.


                                        8

<PAGE>

     (g) Borrower agrees to indemnify Lender and to hold Lender harmless from
any Breakage Costs. This provision shall survive payment of this Note in full
and the satisfaction of all other obligations of Borrower under this Note, the
Security Instrument and the Other Security Documents.

     (h) Lender will use reasonable efforts (consistent with legal and
regulatory restrictions) to maintain the availability of the Adjusted LIBOR Rate
and to avoid or reduce any increased or additional costs payable by Borrower
under this Article 3, including, if requested by Borrower, a transfer or
assignment of the Loan to a branch or office of Lender in another jurisdiction,
or a redesignation of its lending office with respect to the Loan, in order to
maintain the availability of the Adjusted LIBOR Rate or to avoid or reduce such
increased or additional costs, provided that the transfer or assignment or
redesignation (i) would not result in any additional costs, expenses or risk to
Lender that are not reimbursed by Borrower and (ii) would not be disadvantageous
in any other respect to Lender as determined by Lender in its sole discretion.

                       ARTICLE 4 DEFAULT AND ACCELERATION

     (a) The whole of the principal sum of this Note, (b) interest, default
interest, late charges and other sums, as provided in this Note, the Security
Instrument or the Other Security Documents, (c) all other monies agreed or
provided to be paid by Borrower in this Note, the Security Instrument or the
Other Security Documents, (d) all sums advanced pursuant to the Security
Instrument to protect and preserve the Collateral (defined below) and the lien
and the security interest created thereby, and (e) all sums advanced and costs
and expenses incurred by Lender in connection with the Debt (defined below) or
any part thereof, any renewal, extension, or change of or substitution for the
Debt or any part thereof, or the acquisition or perfection of the security
therefor, whether made or incurred at the request of Borrower or Lender (all the
sums referred to in (a) through (e) above shall collectively be referred to as
the "Debt") shall without notice become immediately due and payable at the
option of Lender if any payment required in this Note is not paid within five
(5) days of the date the same is due or on the Maturity Date or on the happening
of any other default, after the expiration of any applicable notice and grace
periods, herein or under the terms of the Security Instrument or any of the
Other Security Documents (collectively, an "Event of Default").

                           ARTICLE 5 DEFAULT INTEREST

     Borrower does hereby agree that upon the occurrence of an Event of Default,
Lender shall be entitled to receive and Borrower shall pay interest on the
entire unpaid principal sum at a rate equal to the lesser of (a) five percent
(5%) plus the Applicable Interest Rate and (b) the maximum interest rate which
Borrower may by law pay (the "Default Rate"). The Default Rate shall be computed
from the occurrence of the Event of Default until the earlier of the date upon
which the Event of Default is cured or the date upon which the Debt is paid in
full. Interest calculated at the Default Rate shall be added to the Debt, and
shall be deemed secured by the Security Instrument. This clause, however, shall
not be construed as an agreement or privilege to extend the date of the payment
of the Debt, nor as a waiver of any other right or remedy accruing to Lender by
reason of the occurrence of any Event of Default.


                                        9

<PAGE>

                              ARTICLE 6 PREPAYMENT

     (a) Provided no Event of Default exists, the principal balance of this Note
may be prepaid, in whole or in part, upon (i) written notice to Lender
specifying the date of prepayment and the amount being prepaid, (ii) payment of
all other sums then due under this Note, the Security Instrument and the Other
Security Documents, and (iii) if the prepayment occurs on a date other than a
Payment Date, payment of Breakage Costs and any other costs incurred by Lender
in unwinding any interest rate hedging transaction entered into by Lender in
connection with the determination of the Applicable Interest Rate, ((ii) and
(iii), collectively, the "Prepayment Consideration"). Subject to Section (d)
hereof, if a notice of prepayment is given by Borrower to Lender pursuant to
this Article 6, the amount designated for prepayment and the other sums required
under this Article 6 shall be due and payable on the proposed prepayment date.

     (b) Following an Event of Default and acceleration of this Note, if
Borrower or anyone on Borrower's behalf makes a tender of payment of the amount
necessary to satisfy the indebtedness evidenced by this Note and secured by the
Security Instrument at any time prior to foreclosure sale (including, but not
limited to, sale under power of sale under the Security Instrument), or during
any redemption period after foreclosure, the tender of payment shall constitute
an evasion of Borrower's obligation to pay any Prepayment Consideration due
under this Note and such payment shall, therefore, to the maximum extent
permitted by law, include a premium equal to the Prepayment Consideration that
would have been payable on the date of such tender had this Note not been so
accelerated.

     (c) Intentionally omitted.

     (d) Upon any sale of all or a portion of the Property by Borrower as
permitted pursuant to the Security Instrument, Borrower shall pay to Lender all
of the Net Sales Proceeds, which shall be applied first to all accrued but
unpaid interest and any other sums then due hereunder, then to the outstanding
principal balance of this Note. At Borrower's option, such Net Sales Proceeds
may be held in escrow with the closing agent and paid to Lender on the next
occurring Payment Date.

                               ARTICLE 7 SECURITY

     This Note is secured by the Security Instrument, the Pledge and the Other
Security Documents. The term "Security Instrument" as used in this Note shall
mean, collectively the Subordinate Mortgage, Security Agreement and Fixture
Filing dated as of the date hereof given by Southpointe Borrower to Lender
encumbering all of Southpointe Borrower's interest in the Southpointe Property,
as more particularly described therein (collectively, the "Southpointe
Collateral") and the Subordinate Mortgage, Security Agreement and Fixture Filing
to be dated as of the date of closing of the Crawfordsville Senior Loan given by
Crawfordsville Borrower to Lender encumbering all of the Crawfordsville
Borrower's interest in the Crawfordsville Property, as more particularly
described therein (collectively, the "Crawfordsville Collateral" and together
with the Southpointe Collateral, the "Collateral"). The term "Other Security
Documents" as used in this Note shall mean all and any of the documents other
than this Note,


                                       10

<PAGE>

the Pledge or the Security Instrument now or hereafter executed by Borrower
and/or others and by or in favor of Lender, which wholly or partially secure or
guarantee payment of this Note.

     All of the terms, covenants and conditions contained in the Security
Instrument and the Other Security Documents are hereby made part of this Note to
the same extent and with the same force as if they were fully set forth herein.

                            ARTICLE 8 SAVINGS CLAUSE

     This Note is subject to the express condition that at no time shall
Borrower be obligated or required to pay interest on the principal balance due
hereunder at a rate which could subject Lender to either civil or criminal
liability as a result of being in excess of the maximum interest rate which
Borrower is permitted by applicable law to contract or agree to pay. If by the
terms of this Note, Borrower is at any time required or obligated to pay
interest on the principal balance due hereunder at a rate in excess of such
maximum rate, the Applicable Interest Rate or the Default Rate, as the case may
be, shall be deemed to be immediately reduced to such maximum rate and all
previous payments in excess of the maximum rate shall be deemed to have been
payments in reduction of principal and not on account of the interest due
hereunder. All sums paid or agreed to be paid to Lender for the use,
forbearance, or detention of the Debt, shall, to the extent permitted by
applicable law, be amortized, prorated, allocated, and spread throughout the
full stated term of the Note until payment in full so that the rate or amount of
interest on account of the Debt does not exceed the maximum lawful rate of
interest from time to time in effect and applicable to the Debt for so long as
the Debt is outstanding.

                              ARTICLE 9 LATE CHARGE

     If any sum payable under this Note is not paid prior to the fifth (5th) day
after the date on which it is due, Borrower shall pay to Lender upon demand an
amount equal to the lesser of three percent (3%) of the unpaid sum or the
maximum amount permitted by applicable law to defray the expenses incurred by
Lender in handling and processing the delinquent payment and to compensate
Lender for the loss of the use of the delinquent payment and the amount shall be
secured by the Security Instrument and the Other Security Documents.

                            ARTICLE 10 NO ORAL CHANGE

     This Note may not be modified, amended, waived, extended, changed,
discharged or terminated orally or by any act or failure to act on the part of
Borrower or Lender, but only by an agreement in writing signed by the party
against whom enforcement of any modification, amendment, waiver, extension,
change, discharge or termination is sought.

                     ARTICLE 11 JOINT AND SEVERAL LIABILITY

     If Borrower consists of more than one person or party, the obligations and
liabilities of each person or party shall be joint and several.


                                       11

<PAGE>

                               ARTICLE 12 WAIVERS

     Borrower and all others who may become liable for the payment of all or any
part of the Debt do hereby severally waive presentment and demand for payment,
notice of dishonor, protest and notice of protest and nonpayment and all other
notices of any kind. No release of any security for the Debt or extension of
time for payment of this Note or any installment hereof, and no alteration,
amendment or waiver of any provision of this Note, the Security Instrument or
the Other Security Documents made by agreement between Lender or any other
person or party shall release, modify, amend, waive, extend, change, discharge,
terminate or affect the liability of Borrower, and any other person or entity
who may become liable for the payment of all or any part of the Debt, under this
Note, the Security Instrument or the Other Security Documents. No notice to or
demand on Borrower shall be deemed to be a waiver of the obligation of Borrower
or of the right of Lender to take further action without further notice or
demand as provided for in this Note, the Security Instrument or the Other
Security Documents. If Borrower is a partnership, the agreements herein
contained shall remain in force and applicable, notwithstanding any changes in
the individuals comprising the partnership. If Borrower is a corporation, the
agreements contained herein shall remain in full force and applicable
notwithstanding any changes in the shareholders comprising, or the officers and
directors relating to, the corporation. If Borrower is a limited liability
company, the agreements contained herein shall remain in full force and
applicable notwithstanding any changes in the members comprising, or the
managers, officers or agents relating to, the limited liability company. The
term "Borrower", as used herein, shall include any alternate or successor
partnership, corporation, limited liability company or other entity or person to
the Borrower named herein, but any predecessor partnership (and their partners),
corporation, limited liability company, other entity or person shall not thereby
be released from any liability. Nothing in this Article 12 shall be construed as
a consent to, or a waiver of, any prohibition or restriction on transfers of
interests in such entities which may be set forth in the Security Instrument or
any Other Security Document.

                               ARTICLE 13 TRANSFER

     Lender may, at any time, sell, transfer or assign this Note, the Security
Instrument and the Other Security Documents, and any or all servicing rights
with respect thereto, or grant participations therein or issue mortgage
pass-through certificates or other securities evidencing a beneficial interest
in a rated or unrated public offering or private placement (the "Securities").
Lender may forward to each purchaser, transferee, assignee, servicer,
participant, investor in such Securities or any Rating Agency rating such
Securities (collectively, the "Investor") and each prospective Investor, all
documents and information which Lender now has or may hereafter acquire relating
to the Debt and to Borrower, any guarantor and the Collateral, whether furnished
by Borrower, any guarantor or otherwise, as Lender determines necessary or
desirable. Borrower and any guarantor agree to cooperate with Lender in
connection with any transfer made or any Securities, including, without
limitation, the delivery of an estoppel certificate in accordance therewith, and
such other documents as may be reasonably requested by Lender. Borrower shall
also furnish and Borrower and any guarantor consent to Lender furnishing to such
Investors or such prospective Investors any and all information concerning the
Collateral, the financial condition of Borrower and any guarantor as may be
requested by Lender, any Investor or any prospective Investor in connection with
any sale, transfer or participation


                                       12

<PAGE>

interest. Lender may retain or assign responsibility for servicing the Loan,
including the Note, the Security Instrument, the Security Instrument and the
Other Security Documents, or may delegate some or all of such responsibility
and/or obligations to a servicer including, but not limited to, any subservicer
or master servicer. Lender may make such assignment or delegation on behalf of
the Investors if the Note is sold or this Agreement or the Other Security
Documents are assigned. All references to Lender herein shall refer to and
include any such servicer to the extent applicable.

                       ARTICLE 14 WAIVER OF TRIAL BY JURY

     BORROWER HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, THE RIGHT
TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM, WHETHER IN CONTRACT,
TORT OR OTHERWISE, RELATING DIRECTLY OR INDIRECTLY TO THE LOAN EVIDENCED BY THIS
NOTE, THE APPLICATION FOR THE LOAN EVIDENCED BY THIS NOTE, THIS NOTE, THE
SECURITY INSTRUMENT OR THE OTHER SECURITY DOCUMENTS OR ANY ACTS OR OMISSIONS OF
LENDER, ITS OFFICERS, EMPLOYEES, DIRECTORS OR AGENTS IN CONNECTION THEREWITH.

                              ARTICLE 15 AUTHORITY

     Borrower (and the undersigned representative of Borrower, if any)
represents that Borrower has full power, authority and legal right to execute
and deliver this Note, the Security Instrument and the Other Security Documents
and that this Note, the Security Instrument and the Other Security Documents
constitute valid and binding obligations of Borrower.

                            ARTICLE 16 APPLICABLE LAW

     This Note shall be deemed to be a contract entered into pursuant to the
laws of the State of Indiana and shall in all respects be governed, construed,
applied and enforced in accordance with the laws of the State of Indiana.

                             ARTICLE 17 COUNSEL FEES

     In the event that it should become necessary to employ counsel to collect
the Debt or to protect or foreclose the security therefor, Borrower also agrees
to pay all reasonable fees and expenses of Lender, including, without
limitation, reasonable attorney's fees for the services of such counsel whether
or not suit be brought.

                               ARTICLE 18 NOTICES

     All notices or other written communications to Borrower or Lender hereunder
shall be deemed to have been properly given (i) upon delivery, if delivered in
person with receipt acknowledged by the recipient thereof, (ii) one (1) Business
Day after having been deposited for overnight delivery with any reputable
overnight courier service, or (iii) three (3) Business Days after having been
deposited in any post office or mail depository regularly maintained by the U.S.
Postal Service and sent by registered or certified mail, postage prepaid, return
receipt requested, addressed to Borrower or Lender at their addresses set forth
in the Security Instrument


                                       13

<PAGE>

or addressed as such party may from time to time designate by written notice to
the other parties. Either party by notice to the other may designate additional
or different addresses for subsequent notices or communications.

                            ARTICLE 19 MISCELLANEOUS

     (a) Wherever pursuant to this Note (i) Lender exercises any right given to
it to approve or disapprove, (ii) any arrangement or term is to be satisfactory
to Lender, or (iii) any other decision or determination is to be made by Lender,
the decision of Lender to approve or disapprove, all decisions that arrangements
or terms are satisfactory or not satisfactory and all other decisions and
determinations made by Lender, shall be in the sole and absolute discretion of
Lender and shall be final and conclusive, except as may be otherwise expressly
and specifically provided herein.

     (b) Wherever pursuant to this Note it is provided that Borrower pay any
costs and expenses, such costs and expenses shall include, but not be limited
to, reasonable legal fees and disbursements of Lender.

                             ARTICLE 20 DEFINITIONS

     All capitalized terms not otherwise defined herein shall have the meanings
ascribed to such terms in the Security Instrument. Whenever used, the singular
number shall include the plural, the plural number shall include the singular,
and the words "Lender" and "Borrower" shall include their respective successors,
assigns, heirs, executors and administrators.

                             ARTICLE 21 EXCULPATION

     Except as otherwise provided herein or in the Security Instrument, Lender
shall not enforce the liability and obligation of Borrower, to perform and
observe the obligations contained in this Note or the Security Instrument by any
action or proceeding wherein a money judgment shall be sought against Borrower
or any partner or member of Borrower, except that Lender may bring a foreclosure
action, an action for specific performance or any other appropriate action or
proceeding to enable Lender to enforce and realize upon this Note or the
Security Instrument, and the interests in the Collateral; provided, however,
that, except as specifically provided herein, any judgment in any such action or
proceeding shall be enforceable against Borrower or any partner or member of
Borrower only to the extent of Borrower's interest in the Collateral, and
Lender, by accepting this Note and the Security Instrument, agrees that it shall
not sue for, seek or demand any deficiency judgment against Borrower or any
partner or member of Borrower, in any such action or proceeding, under or by
reason of or in connection with this Note or the Security Instrument. The
provisions of this paragraph shall not, however, (i) constitute a waiver,
release or impairment of any obligation evidenced or secured by the Security
Instrument; (ii) impair the right of Lender to name Borrower as a party
defendant in any action or suit for foreclosure and sale under the Security
Instrument; (iii) affect the validity or enforceability of any guaranty made in
connection with this Note or the Security Instrument; (iv) impair the right of
Lender to obtain the appointment of a receiver; (v) impair the enforcement of
any assignment; or (vi) constitute a waiver of the right of Lender to enforce
the liability and obligation of Borrower or any partner or member of Borrower,
by money judgment or otherwise,


                                       14

<PAGE>

to the extent of any loss, damage, cost, expense, liability, claim or other
obligation incurred by Lender (including attorneys' fees and costs reasonably
incurred) arising out of or in connection with the following:

     (i) Borrower's failure to deliver to Lender the Net Sales Proceeds as
required hereunder or pursuant to the Security Instrument;

     (ii) fraud or intentional misrepresentation by Borrower in connection with
the Loan;

     (iii) willful misconduct of Borrower in connection with the Loan;

     (iv) the filing by Borrower of an action for partition, or any similar
action with respect to the Property (as defined in the Security Instrument)
which action is not dismissed within sixty (60) days; or

     (v) the breach by Borrower of any representation, warranty, covenant or
indemnification provision in the Mortgage Loan Documents (as defined in the
Security Instrument) concerning environmental laws, hazardous substances and
asbestos and any indemnification of Lender with respect thereto in any such
document.

     Notwithstanding anything to the contrary in this Note or the Security
Instrument (i) the Loan shall be fully recourse to Borrower; and (ii) Lender
shall not be deemed to have waived any right which Lender may have under Section
506(a), 506(b), 1111(b) or any other provisions of the U.S. Bankruptcy Code
("Bankruptcy Code") to file a claim for the full amount of the Loan or to
require that all collateral shall continue to secure all of the Loan owing to
Lender in accordance with this Note or the Security Instrument, in the event of:
(i) (A) Borrower filing a voluntary petition under the Bankruptcy Code or any
other Federal or state bankruptcy or insolvency law; (B) the filing by any
Person of an involuntary petition against Borrower under the Bankruptcy Code or
any other Federal or state bankruptcy or insolvency law in which Borrower
colludes with, or otherwise assists such Person, which action is not dismissed
within sixty (60) days of such filing, or soliciting or causing to be solicited
petitioning creditors for any involuntary petition against Borrower; (C)
Borrower filing an answer consenting to or otherwise acquiescing in or joining
in any involuntary petition filed against it, by any other Person under the
Bankruptcy Code or any other Federal or state bankruptcy or insolvency law; (D)
Borrower consenting to or acquiescing in or joining in an application for the
appointment of a custodian, receiver, trustee, or examiner for Borrower or any
portion of the Collateral; (E) Borrower making an assignment for the benefit of
creditors, or admitting, in writing or in any legal proceeding, its insolvency
or inability to pay its debts as they become due; (ii) Borrower failing to
provide financial information or to maintain its status as a Special Purpose
Entity, in each case as required by, and in accordance with, the terms and
provisions of the Security Instrument; or (iii) Borrower failing to obtain
Lender's prior written consent to any transfer by Borrower of an interest in the
Collateral or of an ownership interest in Borrower as required by the Security
Instrument.


                                       15

<PAGE>

                            ARTICLE 22 SUBORDINATION

If, for any reason whatsoever, the Southpointe Borrower is now or hereafter
becomes indebted to Crawfordsville Borrower or the Crawfordsville Borrower is
now or hereafter becomes indebted to the Southpointe Borrower:

     (a) such indebtedness and all interest thereon and all liens, security
interests and rights now or hereafter existing with respect to property of the
Borrower securing same shall, at all times, be subordinate in all respects to
the Senior Loan and Loan and to all liens, security interests and rights now or
hereafter existing to secure the Senior Loan and Loan;

     (b) Southpointe Borrower shall not be entitled to enforce or receive
payment, directly or indirectly, of any such indebtedness of the Crawfordsville
Borrower to Southpointe Borrower until the Senior Loan and Loan have been fully
and finally paid; and

     (c) Crawfordsville Borrower shall not be entitled to enforce or receive
payment, directly or indirectly, of any such indebtedness of the Southpointe
Borrower to Crawfordsville Borrower until the Senior Loan and Loan have been
fully and finally paid.


                                       16

<PAGE>

                            ARTICLE 23 COMMITMENT FEE

     Notwithstanding anything herein to the contrary, Borrower acknowledges that
on the date hereof, it shall pay to Lender, as material consideration for
Lender's agreement to make the Loan, a Commitment Fee of $16,765.00. Such
payment is earned, due and payable on the date hereof, and payment of such
Commitment Fee shall not be deemed a repayment of principal or interest
hereunder.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]


                                       17

<PAGE>

     IN WITNESS WHEREOF, Borrower has duly executed this Note as of the day and
year first above written.

                                        NNN SOUTHPOINTE, LLC,
                                        a Delaware limited liability company

                                        By: Triple Net Properties, LLC, a
                                            Virginia limited liability company,
                                            its manager


                                        By: /s/ Louis Rogers
                                            ------------------------------------
                                        Name: Louis Rogers
                                        Title: President


                                        NNN CRAWFORDSVILLE, LLC,
                                        a Delaware limited liability company

                                        By: Triple Net Properties, LLC, a
                                            Virginia limited liability company,
                                            its manager


                                        By: /s/ Louis Rogers
                                            ------------------------------------
                                        Name: Louis Rogers
                                        Title: President


                                       18