Document:

<PAGE>

                                                                   Exhibit 10.80

          THIS NOTE REPRESENTS A NON-RECOURSE OBLIGATION OF THE ISSUER SECURED
BY AND PAYABLE SOLELY FROM TI-HE MORTGAGED PROPERTY (AS DEFINED [N THE INDENTURE
(AS DEFINED HEREIN)) AND THE RELATED COLLATERAL, IF ANY. THIS NOTE DOES NOT
REPRESENT AN OBLIGATION OF OR INTEREST [N THE INDENTURE TRUSTEE, SOVEREIGN BANK,
SOVEREIGN BANCORP, INC., ANY INITIAL PURCHASER OR ANY OF THEIR RESPECTIVE
AFFILIATES. TI-US NOTE IS NOT INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY
OR INSTRUMENTALITY OR BY THE ISSUER, TF[E INDENTURE TRUSTEE, SOVEREIGN BANK,
SOVEREIGN BANCORP, INC., THE INITIAL PURCHASERS, OR ANY OF THEIR RESPECTIVE
AFFILIATES.

          THIS NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE ~SECURITIES ACT"), AND MAY NOT BE OFFERED, SOLD,
PLEDGED OR OTHERWISE TRANSFERRED WITHOUT REGISTRATION UNDER THE SECURITIES ACT
OR OTHERWISE IN A TRANSACTION EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT.

                       S-BNK DORCHESTER OPERATIONS, LLC
                       12.18% A-2 Note due June 30, 2020

No, 1                                   New York, New York
Original Principal Amount:              Issue Date:
$3 1,199,288                            June 30, 2000

          S-BNK DORCHESTER OPERATIONS, LLC, a Delaware limited liability company
(the issue.2'), for value received, hereby promises to pay to FIRST SECURITY
BANK, NATIONAL ASSOCIATION, as Pass-Through Trustee, or permitted registered
assigns, the principal amount of $3 1,199,288 in installments as provided below,
with interest (computed on the basis of a 360-day year of twelve 30-day months)
on the unpaid balance of such principal amount at the rate of 12,18% per annum,
which shall become due and payable (whether on the stated maturity date or on a
date fixed for payment of any installment or for any optional or required
prepayment or by purchase, acceleration, declaration or otherwise) in
installments as

Provided below, and, to the extent permitted by Applicable Laws, with interest
at the Default Rate on any overdue principal (including any overdue prepayment
of principal) and, to the extent permitted by Applicable Laws, on any overdue
Make-Whole Premium and any overdue interest, from the due date thereof until
paid, payable on demand or if not so demanded on the next Payment Date (all
capitalized terms above or hereinafter are used as defined in the Indenture
referred to below). Such payments of principal of and interest on this Secured
Note shall be payable to the person in whose name this Secured Note is
registered at the close of business on the fifteenth day (whether or not a
Business Day) preceding the respective Payment Date notwithstanding any transfer
or exchange of this Secured Note subsequent to such date and prior to such
Payment Date, except if and to the extent there is a default in the payment of
principal of or interest on this Secured Note on such Payment Date, such
defaulted principal and interest (including interest at the Default Rate) shall
be paid to the person in whose name this Secured Note is registered at the close
of business on a subsequent date (which shall be not less than five (5) Business
Days prior to the date of payment of such defaulted principal and interest)
established by notice given by mail on behalf of the Issuer to the Holders of
Secured Notes not

                                       1
<PAGE>

less than fifteen (15) days preceding such subsequent date for determining
Holders entitled to receive payment.

          Notwithstanding anything herein to the contrary, all payments of
principal, Make-Whole Premium, if any, and interest on this Secured Note shall
be made in lawful money of the United States of America in immediately available
funds at the Corporate Trust Office or otherwise as provided in the Indenture
referred to below

          The principal of and interest on this Secured Note shall be payable in
the aggregate amounts and on the Scheduled Payment Dates set forth in the
schedule of payments annexed hereto. This Secured Note shall bear interest on
the principal amount from time to time outstanding as aforesaid

          It is not intended that, and none of the terms and conditions of the
Indenture, the Mortgage or the other Operative Documents shall ever be construed
to create a contract whereby, the Issuer or any guarantor endorser or other
party now or hereafter becoming liable for payment of this Secured Note shall be
required to pay interest on this Secured Note at a rate in excess of the maximum
interest that may be lawfully charged under Applicable Law. Notwithstanding
anything in this Secured Note or in any other Debt Document to the contrary, if
at any time the interest rate payable under this Secured Note, together with all
fees and charges which are treated as interest under Applicable Laws, including
the Default Rate and the Make-Whole Premium (collectively, the "Charges") as
provided in the Indenture or in any other document executed in connection
therewith, or otherwise contracted for, charged, received, taken or reserved by
the Indenture Trustee, shall exceed the maximum lawful rate (the "Legal Rate")
which may be contracted for, charged, taken, received or reserved by the
Indenture Trustee in accordance with Applicable Law, the interest rate
applicable to this Secured Note and any other Debt Document, together with all
Charges payable to the Indenture Trustee, shall be limited to the Legal Rate and
any interest or Charges not so limited, taken, received or reserved by the
Indenture Trustee at such time shall be spread, prorated or amortized over the
term of this Secured Note to the fullest extent permitted by law.

          If any term or provision of this Secured Note or the Indenture or the
application thereof to any circumstance shall, in any jurisdiction and to any
extent, be invalid, illegal or unenforceable, such term or such provisions shall
be ineffective as to such jurisdiction to the extent of such invalidity,
illegality or unenforceability without (to the extent permitted by law)
invalidating or rendering unenforceable any remaining terms and provisions
hereof or thereof or the application of such term or provision to circumstances
other than those as to which it is held invalid, illegal or unenforceable.

          The payments of principal and interest to be made on this Secured Note
on a Scheduled Payment Date shall be in the respective amounts set forth in the
schedule of payments annexed hereto as Schedule A, and shall be applied, first,
to the payment of interest accrued on the unpaid principal amount hereof which
is due and payable on such date of such payment (as well as any interest on
overdue principal and, to the extent permitted by Applicable Law, on overdue
Make-Whole Premium, if any), and second, to the payment of the principal amount
(including any overdue installment of principal) of, and Make-Whole Premium, if
any, then due hereunder, provided, that, in any event, the final such
installment shall be in an amount sufficient

                                       2
<PAGE>

to pay in full the entire unpaid principal amount hereof together with Make-
Whole Premium, if any, and interest accrued thereon.

          In addition to the installment payments of principal and interest
provided for above, this Secured Note is subject to prepayment or purchase, in
whole or in part, upon the occurrence of certain events or, in certain
instances, at the option of the Issuer, in certain cases without Make-Whole
Premium, and in other cases with Make-Whole Premium, all in accordance with and
subject to and as more fully set forth in Article 2, Article 9 and Article 14 of
the Indenture dated as of June 30, 2000 (as such indenture may be amended or
supplemented from time to time in accordance with the terms thereof, the
"Indenture") among the Issuer and First Security Bank, National Association, as
Indenture Trustee (the "Indenture Trustee", which term includes any successors
and any separate or co-trustee under the indenture), a copy of which is on file
and available for inspection at the corporate trust office of the Indenture
Trustee in Salt Lake City, Utah. Reference is hereby made to the Indenture and
all indentures supplemental thereto for a statement of the respective rights,
limitations of rights, duties and immunities there under of the Issuer, the
Indenture Trustee, the Lessee and the Holders.

          The Indenture Trustee is hereby authorized to endorse on the schedule
attached to this A-2 Note as Schedule B (or on a continuation of any such
schedule attached to this A-2 Note and made a part hereof) an appropriate
notation evidencing the date and amount of each borrowing, and each payment or
other reduction of principal, interest or other amounts due under the Debt
Documents, in respect hereof. Such schedules shall, absent manifest error,
constitute prima facie evidence of the accuracy of the information contained
           ----- -----
therein. The failure of the Indenture Trustee to make a notation on the
schedules to this A-2 Note as aforesaid or the making of an incorrect notation
by the Indenture Trustee shall not affect the obligations of the Issuer under
this A-2 Note, the Indenture or any other Debt Document in any respect.

          The Indenture permits, with certain exceptions as therein provided,
tile amendment thereof or the modification of the rights and obligations of the
issuer and the rights of the Holders of the Secured Notes under the Indenture at
any time by the Issuer and the Indenture Trustee with the consent of the
Majority in Interest of Holders.

          This Secured Note is the duly authorized 12.18% A-2 Note of the Issuer
originally issued in registered form pursuant to the Indenture and is secured as
provided in the Indenture and the other Debt Documents. The registered Holder is
entitled to the benefits of the Indenture and the security referred to therein,
to which reference is hereby made for a description of the properties, interests
and rights included in such security, the nature of such security and the rights
of the Holders, the Indenture Trustee and the Issuer in respect of such security
and the registered Holder and the Indenture Trustee, acting for the benefit of
such Holder, may enforce the agreements of the Issuer contained therein and
exercise the remedies provided for thereby ot otherwise available in respect
thereof, all in accordance with the terms thereof

          As provided in the Indenture, upon surrender of this Secured Note for
registration of transfer, duly endorsed, or accompanied by a written instrument
of transfer in form and

                                       3
<PAGE>

substance reasonably satisfactory to the Indenture Trustee, and duly executed,
by the registered for exchange, one or more new Secured Notes in an aggregate
principal amount equal to the outstanding principal amount of this Secured Note
will be issued to, and registered in the name of, the transferee or the
registered Holder hereof By its acceptance of this Secured Note, the Holder
hereof agrees to be bound by the provisions of the Indenture as though it were a
party thereto. Subject to the provisions hereof relating to payment of principal
and interest, the Issuer and the Indenture Trustee may treat the Person in whose
name this Secured Note is registered as the owner hereof for the purpose of
receiving payment and for all other purposes, and neither the Issuer nor the
Indenture Trustee shall be affected by any notice to the contrary.

          If an Event of Default shall occur and be continuing, the unpaid
balance of the principal of this Secured Note together with the Make-Whole
Premium, if any, and all accrued but unpaid interest thereon, in certain
circumstances shall become immediately due and payable and in other
circumstances may be declared and become immediately due and payable in the
manner and with the effect provided in the Indenture.

          Notwithstanding anything herein or in any other Operative Document to
the contrary, insofar as the Issuer or any of its beneficiaries, members,
managers, partners, shareholders, trustees, officers, directors, employees and
agents (collectively, the "Exculpated Parties") are concerned, the indenture
Trustee and each Holder by his acceptance of this Secured Note agrees that it
will look solely to the Mortgaged Property, including the income and proceeds
thereof and no recourse shall be had for the payment or performance of the
Secured Notes or for the payment or performance of the Issuer's obligations
hereunder or under the other Operative Documents against any Exculpated Party or
any Person to which the Mortgaged Property, or any part thereof or interest
therein, shall have been transferred, or against any property, assets or funds
other than the Mortgaged Property. Nothing in this paragraph shall be construed
to limit in any way (x) the remedies available against the Mortgaged Property
under any Operative Document or against the Lessee under the Lease, (y) the
rights and remedies available against the Mortgaged Property or the Lessee under
Applicable Laws or (z) the rights and remedies of the Indenture Trustee against
the RVI Insurer under the RVI Policy or under Applicable Laws. Notwithstanding
any provision of the Indenture or any other Security Document, the provisions of
this paragraph shall not (i) constitute a waiver, release or impairment of any
obligation evidenced or secured by the Debt Documents; (ii) impair the right of
the Indenture Trustee to name the issuer as a party defendant in any action or
suit for foreclosure and sale under the Mortgage; (iii) impair the right of the
Indenture Trustee to obtain the appointment of a receiver; or (iv) impair the
enforcement of the Assignment of Lease executed in connection with the
Indenture. Notwithstanding the foregoing, the provisions of this paragraph shall
not constitute a waiver of the right of the Indenture Trustee to enforce against
the Issuer, the liability and obligation of the Issuer, by money judgment or
otherwise, to the extent of any loss, damage, cost, expense, liability, claim or
other obligation incurred by the Indenture Trustee (including attorneys' fees
and costs reasonably incurred) as a result of the following:

          (A) any fraud if material misrepresentation by the Issuer, any
     affiliate, any agent, any employee of the Issuer, or any other person
     authorized to make statements or representations on behalf of the Issuer or
     any such affiliate, agent or employee in connection with the Operative
     Documents;

                                       4
<PAGE>

          (B) the committing of any physical waste by the Issuer on the Property
     during a period while the Issuer or any affiliate, agent or employee of the
     Issuer is in possession thereof, or

          (C) the misapplication or conversion by the Issuer of (1) any
     insurance proceeds received by the Issuer by reason of any loss, damage or
     destruction to the Property, (2) any awards or other amounts received by
     the Issuer in connection with the condemnation of all or a portion of the
     Property, or (3) any rents or security deposits, if any, received by the
     Issuer (except Excepted Payments and such amounts received from the
     Indenture Trustee or the Pass-Through Trustee in accordance with the
     Operative Documents).

          The undersigned waives, to the fullest extent permitted by law,
presentment, protest and demand, notice of protest, demand and dishonor and
nonpayment of this Secured Note and agrees to pay all reasonable costs of
collection when incurred, including reasonable legal fees and expenses, and to
perform and comply with each of the covenants, conditions, provisions and
agreements contained in every instrument now evidencing or securing this Secured
Note.

          THIS SECURED NOTE IS MADE AND DELIVERED IN NEW YORK, NEW YORK AND
SHALL BE GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT
REFERENCE TO CONFLICTS OF LAW.

                                       5
<PAGE>

          IN WITNESS WHEREOF, the Issuer has caused this Secured Note to be duly
executed and delivered by one of its duly authorized officers.

                                    S-BNK DORCHESTER OPERATIONS,
                                      LLC
                                      a Delaware limited liability company

                                    By: /s/ M. Scott Kipp
                                    Name:  M. Scott Kipp
                                    Title: Manager

                                       6<PAGE>

                                                                   Exhibit 10.81

THIS DOCUMENT PREPARED BY
AND RECORDING REQUESTED BY
AND WHEN RECORDED MAIL TO:
Steven G. Horowitz, Esq.
Cleary, Gottlieb, Steen & Hamilton
One Liberty Plaza
New York, New York 10006
Telephone No. (212)225-2580

                      Open-End Mortgage To Secure Present
                       and Future Loans Under Chapter 25
                      of Title 34 (R.I.G.L. (S) 34-25-8)

         MORTGAGE, OPEN-END MORTGAGE, ASSIGNMENT OF LEASES AND RENTS,
           SECURITY AGREEMENT AND FIXTURE FILING FINANCING STATEMENT

                           dated as of June 30, 2000
                                      by
                       S-BNK DORCHESTER OPERATIONS, LLC
                     a Delaware limited liability company,
                                 the Mortgagor

                                      to

                  First Security Bank. National Association,
 a national banking association organized under the laws of the United States,
                             as indenture trustee,
                                 the Mortgagee

                                   Property:
                         #6367, Dorchester Operations
                                    Suffolk
                           Dorchester, Massachusetts

          This instrument contains after-acquired property provisions
<PAGE>

                               TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                       Page
<S>                                                                    <C>

                                   RECITALS

                               GRANTING CLAUSES

Granting Clause I.    Land                                               3
Granting Clause II.   Improvements                                       3
Granting Clause III.  Equipment                                          4
Granting Clause IV.   Appurtenant Rights                                 4
Granting Clause V.    Agreements                                         4
Granting Clause VI.   Leases                                             5
Granting Clause VII.  Rents, Issues and Profits                          5
Granting Clause VIII. Permits                                            5
Granting Clause IX.   Deposits                                           6
Granting Clause X.    Insurance Proceeds and Condemnation Awards         6
Granting Clause XI.   Additional Property                                6
Granting Clause XII.  Restitution Due to Invalidity                      6

                             TERMS AND CONDITIONS

Terms and Conditions                                                     6
Exhibit A Standard Terms and Conditions                                A-1
Exhibit B Description of the Property                                  B-1
</TABLE>
<PAGE>

                      Open-End Mortgage To Secure Present
                       and Future Loans Under Chapter 25
                      of Title 34 (R.I.G.L. (S) 34-25-8)

     THIS MORTGAGE, OPEN-END MORTGAGE, ASSIGNMENT OF LEASES AND RENTS, SECURITY
AGREEMENT AND FIXTURE FILING FINANCING STATEMENT (this "Mortgage") is dated as
of June 30, 2000 by S-BNK DORCHESTER OPERATIONS, LLC, a Delaware limited
liability company, having an address 8411 Preston Road, Suite 850, Dallas,
Texas, 75225, (the "Mortgagor"), to First Security Bank, National Association, a
national banking association organized under the laws of the United States, as
Indenture Trustee, having an address at 79 South Main Street, Third Floor, Salt
Lake City, Utah 84111 (the "Mortgagee").

                                  WITNESSETH:

                                   Recitals

     A.  Reference is hereby made to the Standard Terms and Conditions with
respect to this Mortgage attached as Exhibit A hereto and incorporated herein
(the "Standard Terms and Conditions"). The terms and conditions of this Mortgage
are set forth in the Standard Terms and Conditions.

     B.  Reference is hereby made to the Indenture, dated as of the date hereof
(the "Indenture"), between the Mortgagor and the Mortgagee. The Mortgagor has
issued on June 30, 2000 its A-I Note (the "A-i Note") and its A-2 Note (the "A-2
Note") in an original principal amount of $45,746,038 and $31,199,288,
respectively (collectively, the "Secured Notes"). This Mortgage is subject to
the tel-ms of the Indenture. Capitalized terms used in this Mortgage, but not
otherwise defined herein, are defined in, or are defined by reference in,
Appendix A to the Indenture and have the same meanings herein as therein. The
Mortgagor and the Mortgagee acknowledge receipt of a copy of the Indenture and
the Secured Notes.

     C.  Reference is hereby made to the Note Purchase Agreement, dated as of
the date hereof (the "Note Purchase Agreement"), among the Mortgagor, the
Indenture Trustee and the Pass-Through Trustee. The Mortgagor and the Mortgagee
acknowledge receipt of a copy of the Note Purchase Agreement.

     D.  The Mortgagor is the owner of the Property.

     E.  The Mortgagor is the lessor under a Lease dated as of the date hereof
(the "Lease") with Sovereign Bank, a federally chartered savings bank, as tenant
(the "Lessee") pursuant to which the Mortgagor has leased to the Lessee its
right, title and interest in and to the Property. The Mortgagor and the
Mortgagee acknowledge receipt of a copy of the Lease.

     F.  The lien of this Mortgage is being granted to secure the payment when
due and

                                       1
<PAGE>

payable of the original principal amount of the Secured Notes in the amount of
$76,945,326, and interest (including, without limitation, any interest at the
Default Rate and any interest which accrues after the commencement of any case,
proceeding or other action relating to the bankruptcy, insolvency or
reorganization of the Mortgagor) and Make-Whole Premium, if any,on, the Secured
Notes (including, without limitation, any future advances) and all other amounts
payable by the Mortgagor under any Operative Document, as they may be amended,
extended or modified, from time to time, to which it is a party and the
Mortgagor's compliance with and performance of the terms and conditions of the
Operative Documents to which it is a party and payment of any and all other
indebtedness (including, without limitation, any indemnification) now or
hereafter owing by the Mortgagor to the Mortgagee, evidenced by a promissory
note or notes or agreement or agreements signed by the Mortgagor, whether or not
otherwise secured (the "Secured Obligations"). If the Property is located in
Connecticut, New Hampshire or Rhode Island, the maximum amount of principal
secured by this Mortgage shall at no time exceed $76,945,326 (the principal
amount of the Secured Notes). It is the intention of the parties hereto that
this Mortgage shall be deemed an open and continuing lien instrument to secure
all Secured Obligations of the Mortgagor now existing or hereafter arising
regardless of the extinguishment and payment of any one or more Secured
Obligations owed to the Mortgagee, and this Mortgage shall secure future
advances comprising part of the Indebtedness.

     G.   Pursuant to Section 5.02 of the Standard Terms and Conditions, the
          following information is applicable for the purposes of a fixture
          filing and notices, (if the Property is located in the state of Rhode
          Island, such notices are pursuant to R.I.G.L. (S) 34-25-10(b) relating
          to future advances), to wit:

          (i)   Name and Address of the Mortgagor:

                    S-BNK DORCHESTER OPERATIONS, LLC
                    8411 Preston Road, Suite 850
                    Dallas, Texas, 75225
                    Attn: Manager

          (ii)  Name and Address of the Mortgagee:

                    First Security Bank, National Association, a national
                    banking association organized under the laws of the United
                    States, as indenture trustee
                    79 South Main Street, Third Floor, Salt Lake City, Utah
                    84111
                    Attn: Corporate Trust Services

          (iii) The name of the record owner of the real estate on which such
                fixtures are or are to be located is S-BNK DORCHESTER
                OPERATIONS, LLC.

     H.   The A-1 Note has a final maturity date of June 30, 2005, and the A-2
Note has a final maturity date of June 30, 2020. The interest rate on the A-1
Note is 10.2 0%, and the interest rate on the A-2 Note is 12.18%.

                                       2
<PAGE>

     NOW, THEREFORE, in consideration of the premises and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, for the purpose of securing the Secured Obligations, the Mortgagor
does hereby (i) MORTGAGE, GRANT, BARGAIN, SELL, CONVEY, ASSIGN, TRANSFER and
WARRANT, WITH MORTGAGE COVENANTS, to the Mortgagee, its successors and assigns,
with power of sale, and if the Property is located in Massachusetts, New
Hampshire or Rhode Island, upon the statutory condition(s) for any breach of
which the Mortgagee shall have the statutory power of sale, and might of entry
as hereinafter provided to the extent permitted under the laws of the state
where the property is located (and if the Property is located in Massachusetts,
New Hampshire or Rhode Island, on the statutory condition (and statutory
conditions as to the Mortgaged Property located in New Hampshire) and with the
statutory power of sale), and subject to all of the terms, conditions, covenants
and agreements herein set forth, a continuing first lien on, and (ii) to the
extent covered by the UCC, does hereby GRANT and WARRANT to the Mortgagee, its
successors and assigns a security interest in and to, in each case, all of the
property and rights described in the following Granting Clauses (all of which
property and rights are collectively called the "Mortgaged Property"), subject
to Permitted Liens, to wit:

                              Granting Clause I.

     Land. All estate, might, title and interest of the Mortgagor in, to, under
or derived from the lots, pieces, tracts or parcels of land located in the
Town/City of Dorchester, County of Suffolk, State of Massachusetts, more
particularly described in Exhibit B attached hereto and incorporated herein (the
"Land").

                              Granting Clause II.

     Improvements. All tight, title and interest of the Mortgagor, except the
Lessee's Equipment and Personally in accordance with the terms of the Lease, in
and to (i) all buildings, structures, facilities and other improvements of every
kind and description now or hereafter located in or on the Land; (ii) all
plumbing, lighting, heating, ventilating, air-conditioning, refrigerating,
incinerating, compacting, fire protection and sprinkler, surveillance and
security, vacuum cleaning, public address and communications equipment and
systems; (iii) all screens, awnings, floor coverings, partitions, elevators,
escalators, motors, electrical, computer and other wiring, machinery, pipes,
fittings and racking and shelving; (iv) all other items of fixtures, equipment
and personal property of every kind and description, in each case now or
hereafter located on the Land or affixed (actually or constructively) to the
improvements therein which by the nature of their location thereon or affixation
thereto are real property under Applicable Laws; and (v) all materials intended
for the construction, reconstruction, repair, replacement, alteration, addition
or improvement of or to such buildings, equipment, fixtures, structures and
improvements, all of which materials shall be deemed to be part of the Mortgaged
Property immediately upon delivery thereof in the Property and to be part of the
improvements immediately upon their incorporation therein (the foregoing being
collectively called then "Improvements").

                                       3
<PAGE>

     Equipment. All right, title and interest of the Mortgagor in, to, under or
derived from (i) all fixtures, chattels and articles of personal property owned
by the Mortgagor or in which the Mortgagor has or shall acquire an interest,
wherever situated, and now or hereafter located on or in, or affixed (actually
or constructively) to, the Property, whether or not affixed thereto and which
are not real property under Applicable Laws, including, without limitation, to
the extent of the Mortgagor's now or hereafter acquired interest therein, all
partitions, shades, blinds, curtains, draperies, carpets, rugs, furniture and
furnishings; (ii) all heating, lighting, plumbing, ventilating, air
conditioning, refrigerating, gas, steam, electrical, incinerating and compacting
plants, systems, fixtures and equipment; (iii) all elevators, stoves, ranges,
other kitchen and laundry appliances, vacuum and other cleaning systems, call
systems, switchboards, sprinkler systems and other fire prevention, alarm and
extinguishing apparatus and materials; and (iv) all motors, machinery, pipes,
conduits, dynamos, engines, compressors, generators, boilers, stokers, furnaces,
pumps, trunks, ducts, appliances, equipment, utensils, tools, implements,
fittings and fixtures, and including, without limitation, any of the foregoing
that is temporarily removed from the Property to be repaired and later
reinstalled thereon or therein (the foregoing being collectively called the
"Equipment" and shall not in any event include the Lessee's Equipment and
Personalty). If the Lien of this Mortgage is subject to a security interest
covering any portion of the Property described in this Granting Clause III, then
all of the right, title and interest of the Mortgagor in and to any and all such
property is hereby assigned to the Mortgagee, together with the benefits of all
deposits and payments now or hereafter made thereon by or on behalf of the
Mortgagor.

                              Granting Clause IV.

     Appurtenant Rights. All estate, right, title and interest of the Mortgagor
in, to, under or derived from: all tenements, hereditaments and appurtenances
now or hereafter relating to the Property; all rights of ingress and egress now
or hereafter appertaining to the Property; all easements and rights of way now
or hereafter appertaining to the Property; and all royalties and other rights
now or hereafter appertaining to the use and enjoyment of the Property
(including, without limitation, alley, party walls, support or drainage rights).

                              Granting Clause V.

     Agreements. To the extent assignable under Applicable Laws, all estate,
right, title and interest of the Mortgagor in, to, under or derived from all
agreements now or hereafter relating to the Property or the appurtenances to the
Property (including, without limitation, any property management agreements), or
the franchises and privileges connected therewith (collectively, the
"Appurtenant Property"), and any other agreements, including, without
limitation, all mortgages or deeds of trust, restrictive covenants, deed
restrictions and easements (including, without limitation, any Permitted
Encumbrances) and all insurance policies, all guarantees and warranties, all
supply and service contracts for water, sanitary and storm sewer, drainage,
electricity, steam, gas, telephone or other utilities that are necessary to
operate the Property for its then current use and all other documents,
agreements and instruments, in all of such cases now or hereafter relating to
the Property or the Appurtenant Property (the foregoing being collectively
called the "Agreements").

                                       4
<PAGE>

     Leases. All estate, right, title and interest of the Mortgagor in, to,
under or derived from: all leases and subleases (including, without limitation,
the Lease) now or hereafter in effect, whether or not of record, for the use or
occupancy of all or any part of the Property (including, without limitation, all
guarantees of the tenants' or subtenants' obligations thereunder), and (i) all
rent and other amounts now or hereafter payable to the Mortgagor thereunder,
(ii) all rights of the Mortgagor (subject to the Indenture and the Note Purchase
Agreement) to exercise any election or option or to make any decision or
determination or to give any notice, consent, waiver or approval or to take any
other action under or in respect of any of such leases or to accept any
surrender or redelivery of the Property or any part thereof, as well as all the
rights, powers and remedies of the Mortgagor, whether acting under any of the
leases or by statute or at law or in equity, or otherwise, arising out of any
default or event of default under any of such leases, and (iii) all estate,
right, title and interest of the Mortgagor as a secured party or lienholder
thereunder to the extent a security interest or Lien may be deemed to be created
by any such lease (the foregoing being collectively referred to as the
"Leases").

                             Granting Clause VII.

     Rents, Issues amid Profits. All estate, right, title and interest of the
Mortgagor in, to, under or derived from: all rents (including, without
limitation, all Base Rent and Supplemental Rent), royalties, issues, profits,
receipts, revenue, income and other benefits now or hereafter accruing with
respect to the Property, (including, without limitation, all rents and other
sums now or hereafter payable pursuant to the Leases); all other sums now or
hereafter payable with respect to the use, occupancy, management, operation or
control of the Property; and all other claims, rights and remedies now or
hereafter belonging or accruing with respect to the Property, including, without
limitation, fixed, additional and percentage rents, occupancy charges, security
deposits, parking, maintenance, common area, tax, insurance, utility and service
charges and contributions (whether collected under the Leases or otherwise),
proceeds of sale of electricity, gas, heating, air-conditioning and other
utilities and services (whether collected under the Leases or otherwise), and
deficiency rents and liquidated damages following default or cancellation (the
foregoing rents and other sums described in this Granting Clause being
collectively called the "Rents"), all of which the Mortgagor hereby irrevocably
directs be paid to the Mortgagee, to be held and applied as subject to the terms
of the Indenture and the Lease.

                             Granting Clause VIII.

     Permits. To the extent assignable under Applicable Laws, all estate, right,
title and interest of the Mortgagor in, to, under or derived from all licenses,
authorizations, certificates, variances, consents, approvals and other permits
now or hereafter appertaining to the Property (the foregoing being collectively
called the "Permits"), excluding from the grant under this Granting Clause (but
not the definition of the term "Permits" for the other purposes hereof) any
Permits which cannot be transferred or encumbered by the Mortgagor without
causing a default thereunder or a termination thereof

                                       5
<PAGE>

     Deposits. To the extent assignable under Applicable Laws, all estate,
right, title and interest of the Mortgagor in, to, under or derived from all
amounts deposited with the Mortgagee under the Operative Documents with respect
to the Property (but subject to the terms thereof), including, without
limitation, the Rent Collection Account and all insurance proceeds and awards
held by the Mortgagee, and including, without limitation, all certificates of
deposit, securities and other investments relating thereto and all interest,
dividends and other income thereon, proceeds thereof and rights relating thereto
(the foregoing being collectively called "Deposits").

                              Granting Clause X.

     Insurance Proceeds amid Condemnation A wards. All estate, right, title and
interest of the Mortgagor in, to, under or derived from all proceeds of any
financing, refinancing or conversion into cash or liquidated claims, whether
voluntary or involuntary, of any of the Mortgaged Property, including, without
limitation, all of the Mortgagor's interest in and to insurance proceeds,
condemnation awards and title insurance proceeds under any title insurance
policy now or hereafter held by the Mortgagor, and all rights, dividends and
other claims of any kind whatsoever (including, without limitation, damage,
secured, unsecured, priority and bankruptcy claims) now or hereafter relating to
any of the Mortgaged Property, all of which the Mortgagor hereby irrevocably
directs be paid to the Mortgagee to the extent provided hereunder, to be held,
applied and disbursed subject to the terms of the Indenture and the Lease.

                              Granting Clause XI.

     Additional Proper/v. All greater, additional or other estate, right, title
and interest of the Mortgagor in, to, under or derived from the Mortgaged
Property now or hereafter acquired by the Mortgagor, including, without
limitation, all right, title and interest of the Mortgagor in, to, under or
derived from all extensions, improvements, betterments, renewals, substitutions
and replacements of, and additions and appurtenances to, any of the Mortgaged
Property hereafter acquired by or released to the Mortgagor or constructed or
located on, or affixed to, the Property, in each case, immediately upon such
acquisition, release, construction, location or affixation; all estate, right,
title and interest of the Mortgagor in, to, under or derived from any other
property and rights which are, by the provisions of the Operative Documents,
required to be subjected to the Lien hereof, all estate, right, title and
interest of the Mortgagor in, to, under or derived from any other property and
rights which are necessary to maintain the Property, to the fullest extent
permitted by law, without any further conveyance, Mortgage, assignment or other
act by the Mortgagor; and all estate, might, title and interest of the Mortgagor
in, to, under or derived from all other property and rights which are by any
instrument or otherwise subjected to the Lien hereof by the Mortgagor.

                             Granting Clause XII.

     Restitution Due to Invalidity. All estate, right, title and interest now
held or hereafter acquired by the Mortgagor in and to any right to restitution
in respect of any determination of invalidity of the Lease or any other
Operative Document.

                                       6
<PAGE>

     TO HAVE AND TO HOLD the Mortgaged Property, together with all of the
respective estate, right, title and interest of the Mortgagor and anyone
claiming by, through or under the Mortgagor in, to, under or derived from the
Mortgaged Property and all rights and appurtenances relating thereto, subject to
Permitted Encumbrances and the terms and conditions herein, to the Mortgagee,
its successors and assigns, forever.

     BUT EXCLUDING HOWEVER, from the property, rights and privileges subject to
the Granting Clauses, all Excepted Payments to the extent such Excepted Payments
are payable to third parties and not to the Mortgagor.

                             TERMS AND CONDITIONS

     I.   Recitals. The recitals are incorporated by reference herein.

     II.  Standard Terms amid Conditions. The Standard Terms and Conditions are
incorporated by reference herein.

     III. State-Specific Provisions: Future Advances: Open-End Mortgage.

     (a)  Future Advances; Rhode Island Open-End Mortgage Provisions. If the
Mortgaged Property is located in Rhode Island, this subsection 111(a) shall
apply. This Mortgage permits and secures any and all current and future advances
to the Mortgagor evidenced by (or pursuant to) any one or more of the following:
the Secured Notes, the Operative Documents, the Debt Documents or other
documents evidencing the Secured Obligations or the Indebtedness, such other
note or notes as may be signed by the Mortgagor payable to the Mortgagee and
such other agreement(s) as may be entered into by the Mortgagor with the
Mortgagee, and signed by the Mortgagor. The unpaid principal balance of
indebtedness outstanding under this Mortgage shall at no time exceed
$76,945,326. The Mortgagee will accept notices pursuant to Sections 34-25-10(b)
and 34-25-11 of the General Laws of the State of Rhode Island in accordance with
Paragraph G and Section 7.02 of this Mortgage.

     (b)  Connecticut Open-End Mortgage. If the Mortgaged Property is located in
Connecticut, this subsection 111(b) shall apply. This Mortgage is, in part, an
open-end mortgage to secure advances made or to be made pursuant to the
Indenture. Advancements secured by this Mortgage are evidenced by the Secured
Notes. The Mortgagee shall have all the rights, powers and protection allowed by
Applicable Laws with respect thereto, subject only to such limitations as are
imposed by law. Additional and future loans and advances are specifically
permitted to be made under this Mortgage and shall be secured hereby equally
with amounts advanced to the Mortgagor under the Indenture on the date hereof,
if any, and shall be entitled to the same priority as if such additional and
future loans and advances had been made on the date hereof Upon request of the
then owner of record of the Property, the Mortgagee may hereafter, at its
option, at any time before full payment of this Mortgage, make further
advancements to such owner in such amounts and at such rates of interest as
Mortgagee shall determine, and every such further advance, with interest, shall
be secured by this Mortgage and shall be evidenced by the Secured Notes;
provided, however, that the amount of the principal secured by this Mortgage and
remaining unpaid shall at no time exceed $76,945,326 provided, further, that the
terms of repayment of any such advancements shall not extend the time of
repayment beyond the maturity

                                       7
<PAGE>

date of the Secured Notes. The foregoing paragraph is intended to comply with,
and satisfy the requirements of, Connecticut General Statutes (S) 49-2(c) with
regard to open-end mortgages.

     (e) Future Advances; New Hampshire Mortgage Provisions. If the Mortgaged
Property is located in New Hampshire, this subsection 111(c) shall apply.
Pursuant to New Hampshire Revised Statute Annotated Section 479:3, this Mortgage
permits and secures any and all current advances as well as those thereafter
made or incurred that do not exceed the principal amount stated in the Mortgage
evidenced by (or pursuant to) any one or more of the following: the Secured
Notes, the Operative Documents, the Debt Documents or other documents evidencing
the Secured Obligations or the Indebtedness, such other note or notes as may be
signed by the Mortgagor payable to the Mortgagee and such other agreement(s) as
may be entered into by the Mortgagor with the Mortgagee, and signed by the
Mortgagor. The amount of principal advanced under this Mortgage shall not exceed
that amount set forth in Paragraph F of the Recitals of this Mortgage.

                                       8
<PAGE>

IN WITNESS WHEREOF, the Mortgagor has executed and delivered this Mortgage as of
the day first set forth above.

                                      MORTGAGOR:

                                      S-BNK DORCHESTER OPERATIONS, LLC
                                      a Delaware limited liability company
Attest:
By:_____________________              By:    /s/ M. Scott Kipp
                                         --------------------------
                                      Name:  M. Scott Kipp
                                      Title: Manager
By:______________________

                                       9

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