Document:

<PAGE>

                                                                  EXHIBIT 10.23

                         PLEDGE AND SECURITY AGREEMENT

       THIS PLEDGE AND SECURITY AGREEMENT (this "Pledge Agreement") is dated as
of September 25, 2009 and made by and between ROAD BAY INVESTMENTS, LLC (the
"Pledgor") and ALLSTATE LIFE INSURANCE COMPANY OF NEW YORK (the "Secured
Party").

                              W I T N E S S E T H

       WHEREAS, the Secured Party and the Pledgor have entered into an Asset
Purchase Agreement dated September 25, 2009 (the "Asset Purchase Agreement"),
under which the Secured Party has agreed to sell, and the Pledgor has agreed to
purchase from the Secured Party, certain Assets (as defined in the Asset
Purchase Agreement) ; and

       WHEREAS, as security for the payment and performance by the Pledgor of
its obligations under the Asset Purchase Agreement, the Pledgor has agreed to
grant a pledge of and security interest in the Pledgor's right, title, and
interest in and to the Assets;

       NOW, THEREFORE, in consideration of the premises and of the mutual
covenants herein contained, the Pledgor and the Secured Party hereby agree as
follows:

                                   ARTICLE I

                     GRANT OF PLEDGE AND SECURITY INTEREST

       Section 1.1 Grant of Security Interest. To secure the payment in full
when due by the Pledgor to the Secured Party under the Asset Purchase Agreement
of all amounts (including fees, charges, and expenses) which accrue and become
due thereunder and the timely performance by the Pledgor of each of its other
obligations thereunder (collectively, the "Secured Obligations"), the Pledgor
hereby pledges and grants to the Secured Party a security interest in all of
the Pledgor's right, title, and interest in, to, and under the following
(collectively, the "Collateral"): (a) the Assets and all certificates or
instruments evidencing the same and all proceeds thereof, all accessions
thereto, and substitutions therefor; (b) all interest, distributions, and other
proceeds from time to time received, receivable, or otherwise distributed to
Pledgor in respect of or in exchange for any or all of the Assets; and (c) all
"Proceeds" (as such term is defined in the Uniform Commercial Code as in effect
in the State of New York or any other relevant jurisdiction (the "UCC")) of any
of the foregoing.

       Section 1.2 Perfection of Security Interest.

       (a) The Pledgor agrees to take all other actions which may be necessary
under the laws of the State of New York or may be requested by the Secured
Party to protect and perfect the interest of the Secured Party in the
Collateral created hereby and to ensure that such interest is senior in rank to
the claims of any other creditor of the Pledgor claiming an interest in and to
the Collateral, including the filing of UCC-1 financing statements (including
any continuation statements with respect to such financing statements when
applicable) identifying the Assets and naming the Pledgor as debtor and the
Secured Party as secured party. The Pledgor shall deliver to the Secured Party
file-stamped copies or other evidence of such filings.

<PAGE>

Notwithstanding the agreements set forth in this Section 1.2, the Pledgor
hereby authorizes the Secured Party to take, and appoints the Secured Party as
its attorney-in-fact for the purpose of taking, any action necessary under the
UCC to perfect, and to maintain the perfection and priority of, the Secured
Party's interest in the Collateral, including, without limitation, the filing
of any such financing and continuation statements.

       (b) Notwithstanding the agreements set forth in this Section 1.2,
Pledgor shall not be required to file or record any mortgage or other security
instrument in the event any recordation, transfer, stamp, documentary, or other
fees or taxes are or would be levied on Pledgor by reason of the making or
recording of any Note (as defined in the Asset Purchase Agreement) or mortgage.
All such recordation, transfer, stamp, documentary, or other fees or taxes
shall be the sole responsibility of Secured Party.

                                  ARTICLE II

                  REPRESENTATIONS, WARRANTIES, AND COVENANTS

       Section 2.1 Representations, Warranties, and Covenants as to the
Pledgor. The Pledgor hereby represents, warrants, and covenants to the Secured
Party:

       (a) Title to Collateral. The Assets and all of the other Collateral in
existence on the date hereof are, and all Assets and all of the other
Collateral issued subsequent to the date hereof will be, owned by the Pledgor
free and clear of any lien or encumbrance. The Pledgor has not (i) filed or
consented to the filing with any governmental authority of any financing
statement or analogous document under the UCC or any other applicable laws
covering any Collateral, (ii) made any assignment to any other person of any
interest in the Collateral, or (iii) entered into any security agreement or
similar instrument or arrangement covering all or any part of the Collateral
with any other person, which financing statement or analogous document,
assignment, security agreement, or similar instrument is still in effect.

       (b) Organization. The Pledgor is a limited liability company organized
under the laws of the State of Delaware.

       (c) Principal Office. The Pledgor maintains its chief executive office
at 3075 Sanders Road, Northbrook, Illinois 60062.

       (d) No Liens. Pledgor is as of the date hereof, and at the time of any
delivery of any Collateral to the Secured Party pursuant to Article I of this
Pledge Agreement, Pledgor will be, the sole legal and beneficial owner of the
Collateral. All Collateral is on the date hereof, and will be, so owned by
Pledgor free and clear of any lien except for the lien created by this Pledge
Agreement.

       (e) Due Authorization. The execution and delivery to the Secured Party
of this Pledge Agreement by the Pledgor, the delivery to the Secured Party of
the Assets together with any necessary endorsements, and the consummation of
the transactions provided for in this Pledge Agreement have been duly
authorized by the Pledgor by all necessary corporate action on its part and
this Pledge Agreement constitutes a legal, valid, and binding obligation of the
Pledgor, enforceable against the Pledgor in accordance with its terms, and
except in each case as

                                      -2-

<PAGE>

enforcement may be limited by bankruptcy, insolvency, examination, suspension
of payments, fraudulent transfer, reorganization, moratorium, and other similar
laws of general applicability affecting the enforcement of creditors' rights
generally, public policy, and general principles of equity (regardless of
whether such proceeding is considered in a proceeding in equity or law).

       (f) No Conflict. The execution and delivery of this Pledge Agreement,
the delivery of the Collateral, the consummation of the transactions
contemplated hereby, and the fulfillment of the terms hereof will not conflict
with or result in the breach of any of the material terms and provisions of,
constitute (with or without notice or lapse of time or both) a default under,
or result in the creation of any lien upon any property or assets of the
Pledgor pursuant to, any indenture, contract, agreement, mortgage, deed of
trust, or other instrument to which the Pledgor is a party or by which it or
any of its properties is bound.

       (g) No Violation. The execution and delivery of this Pledge Agreement,
the delivery of the Collateral, the consummation of the transactions
contemplated hereby, and the fulfillment of the terms hereof will not conflict
with or violate any organizational or governing documents of the Pledgor or any
law, treaty, rule, or regulation, or any judgment, order, or decree, or
determination of an arbitrator or governmental authority applicable to or
binding upon the Pledgor.

       (h) No Proceedings. There are no actions at law, suits in equity, or
proceedings by or before any governmental commission, bureau, or administrative
agency pending or, to the best knowledge of the Pledgor, threatened against the
Pledgor or any of its assets, that would adversely affect the ability of the
Pledgor to perform its obligations under this Pledge Agreement.

       (i) No Authorization Required. Except for such authorizations or
approvals as shall have been obtained prior to the date hereof, no
authorization or approval of any governmental agency or commission or public or
quasi-public body or authority with jurisdiction over the Pledgor or any of its
assets is necessary for the due execution and delivery of this Pledge Agreement
or for the validity or enforceability hereof.

       Section 2.2 Delivery of Pledged Collateral; Filings.

       Pledgor has delivered, or will deliver, to the Secured Party an
appropriate UCC-1 financing statement to be filed with the Secretaries of State
of the States of Delaware and Illinois, the States in which the Pledgor is
organized and located, respectively, evidencing the lien created by this Pledge
Agreement. Pledgor has delivered, or will deliver, to the Secured Party an
appropriate mortgage or other security instrument evidencing the lien of this
Pledge Agreement on any Assets constituting real property.

       Section 2.3 Distributions; etc. So long as no Event of Default shall
have occurred, Pledgor shall be entitled to receive and retain, and to utilize
free and clear of the lien of this Pledge Agreement, any and all distributions
of interest or other funds in respect of the Assets to the extent made in
accordance with the provisions of the Asset Purchase Agreement.

       Section 2.4 Transfers and Other Liens. Pledgor shall not (i) sell,
convey, assign, or otherwise dispose of, or grant any option or right with
respect to, any of the Collateral

                                      -3-

<PAGE>

except in connection with the full and complete payment or prepayment of the
Note issued in connection with the acquisition of the Asset or Collateral to be
sold, conveyed, assigned or otherwise disposed of or (ii) create or permit to
exist any lien or encumbrance upon or with respect to any Collateral, other
than the lien and security interest granted to the Secured Party pursuant to
this Pledge Agreement.

                                  ARTICLE III

                          EVENTS OF DEFAULT; REMEDIES

       Section 3.1 Events of Default. Each of the following events shall
constitute an event of default (each, an "Event of Default") under this Pledge
Agreement: (i) any material breach by the Pledgor of any term, provision, or
covenant of the Asset Purchase Agreement; (ii) any material breach by the
Pledgor of any term, provision, or covenant of this Pledge Agreement; (iii) the
Secured Party ceases to have a security interest in the Collateral; or (iv) the
Pledgor becomes subject to bankruptcy, insolvency, reorganization, liquidation,
conservation, rehabilitation, or other similar proceedings.

       Section 3.2 Remedies Upon Default.

       (a) Upon the occurrence of an Event of Default, all rights of Pledgor to
receive distributions which it would otherwise be authorized to receive and
retain pursuant to Section 2.3 hereof shall cease and all such rights shall
thereupon become vested in the Secured Party, which shall thereupon have the
sole right to receive and hold as Collateral such distributions.

       (b) All distributions which are received by Pledgor contrary to the
provisions of paragraph (a) of this Section 3.2 shall be received in trust for
the benefit of the Secured Party, shall be segregated from other funds of
Pledgor and shall immediately be paid over to the Secured Party as Collateral
in the same form as so received (with any necessary endorsement).

       (c) If an Event of Default shall have occurred, Secured Party shall have
the right, in addition to the other rights and remedies provided for herein or
otherwise available to it to be exercised from time to time, (i) to retain and
apply the distributions to the Secured Obligations and (ii) to exercise all the
rights and remedies of a secured party on default under the UCC in effect in
the State of New York at that time, and the Secured Party may also in its sole
discretion, without notice except as specified below, sell the Collateral or
any part thereof (including, without limitation, any partial interest in the
Assets) in one or more parcels at public or private sale, at any exchange,
broker's board, or at any of the Secured Party's offices or elsewhere, at such
price or prices and upon such other terms as the Secured Party may deem
commercially reasonable. Secured Party may be the purchaser of any or all of
the Collateral at any such sale and shall be entitled, for the purpose of
bidding and making settlement or payment of the purchase price for all or any
portion of the Collateral sold at such sale, to use and apply any of the
Secured Obligations owed to it as a credit on account of the purchase price of
any Collateral payable by it at such sale. Each purchaser at any such sale
shall acquire the property sold absolutely free from any claim or right on the
part of Pledgor, and Pledgor hereby waives, to the fullest extent permitted by
law, all rights of redemption, stay, and/or appraisal which it now

                                      -4-

<PAGE>

has, or may at any time in the future have, under any rule of law or statute
now existing or hereafter enacted. Pledgor acknowledges and agrees that five
days' notice to Pledgor of the time and place of any public sale or the time
after which any private sale or other intended disposition is to take place
shall constitute reasonable notification of such matters. No notification need
be given to Pledgor if it has signed, after the occurrence of an Event of
Default, a statement renouncing or modifying any right to notification of sale
or other intended disposition. The Secured Party shall not be obligated to make
any sale of Collateral regardless of notice of sale having been given. The
Secured Party may adjourn any public or private sale from time to time by
announcement at the time and place fixed therefore, and such sale may, without
further notice, be made at the time and place to which it was so adjourned.
Pledgor hereby waives, to the fullest extent permitted by law, any claims
against the Secured Party arising by reason of the fact that the price at which
any Collateral may have been sold at such a private sale was less than the
price which might have been obtained at a public sale, even if the Secured
Party accepts the first offer received and does not offer such Collateral to
more than one offeree. The Secured Party shall not be liable for any incorrect
or improper payment made pursuant to this Section in the absence of gross
negligence or willful misconduct.

       (d) Pledgor recognizes that, by reason of certain prohibitions contained
in the Securities Act of 1933, as amended (the "Securities Act"), and
applicable state securities law, the Secured Party may be compelled, with
respect to any sale of all or any part of the Collateral, to limit purchasers
to persons who will agree, among other things, to acquire the Collateral for
their own account, for investment and not with a view to the distribution or
resale thereof. Pledgor acknowledges that any such private sales may be at
prices and on terms less favorable to the Secured Party than those obtainable
through a public sale without such restrictions (including, without limitation,
a public offering made pursuant to a registration statement under the
Securities Act), and, notwithstanding such circumstances, agrees that any such
private sale shall be deemed to have been made in a commercially reasonable
manner and that the Secured Party shall have no obligation to engage in public
sales and no obligation to delay the sale of any Collateral for the period of
time necessary to permit the issuer thereof to register it for a form of public
sale requiring registration under the Securities Act or under applicable state
securities laws, even if such issuer would agree to do so.

       Section 3.3 Application of Proceeds. All distributions held from time to
time by the Secured Party and all proceeds received by the Secured Party in
respect of any sale of, collection from, or other realization upon all or any
part of the Collateral pursuant to the exercise by the Secured Party of its
remedies as a secured creditor as provided herein shall be applied, together
with any other sums then held by the Secured Party pursuant to this Pledge
Agreement, promptly by the Secured Party as follows:

       First, to the payment of all costs and expenses, fees, commissions, and
taxes of such sale, collection, or other realization, including, without
limitation, compensation to the Secured Party and its agents and counsel, and
all expenses, liabilities, and advances made or incurred by the Secured Party
in connection therewith, together with interest on each such amount at the
highest rate then in effect under the Asset Purchase Agreement from and after
the date such amount is due, owing, or unpaid until paid in full;

                                      -5-

<PAGE>

       Second, without duplication of amounts applied pursuant to clause First
above, to the indefeasible payment in full in cash of the Secured Obligations
in accordance with the terms of the Asset Purchase Agreement; and

       Third, the balance, if any, to the persons lawfully entitled thereto
(including Pledgor or its successors or assigns).

       Section 3.4 Expenses. Pledgor will upon demand pay to the Secured Party
the amount of any and all expenses, including the fees and expenses of its
counsel and the fees and expenses of any experts and agents, which the Secured
Party may incur in connection with (i) the collection of the Secured
Obligations, (ii) the enforcement and administration of this Pledge Agreement,
(iii) the custody or preservation of, or the sale of, collection from, or other
realization upon, any of the Collateral, (iv) the exercise or enforcement of
any of the rights of the Secured Party hereunder, or (v) the failure by Pledgor
to perform or observe any of the provisions hereof. All amounts payable by
Pledgor under this Section 3.4 shall be due upon demand and shall be part of
the Secured Obligations. Pledgor's obligations under this Section 3.4 shall
survive the termination of this Pledge Agreement and the discharge of Pledgor's
other obligations hereunder.

                                  ARTICLE IV

                                 MISCELLANEOUS

       Section 4.1 Notices. All demands, notices, instructions, and
communications hereunder shall be in writing and shall be deemed to have been
duly given when received. All notices or communications under this Pledge
Agreement shall be addressed as follows:

          NOTICES TO SECURED PARTY:

          Allstate Life Insurance Company of New York
          100 Motor Parkway, Suite 132
          Hauppauge, Suffolk, NY, 11788-5107
          WITH A COPY TO:
          Allstate Life Insurance Company of New York
          3100 Sanders Road
          Northbrook, Illinois 60062
          Attention: Allstate Financial - Chief Financial Officer

          NOTICES TO PLEDGOR:

          Road Bay Investments, LLC
          3075 Sanders Road, Suite G5C
          Northbrook, IL 60062
          Attention: President

                                      -6-

<PAGE>

       Section 4.2 Termination; Release. When a Note issued in connection with
the acquisition of an Asset or Collateral has been paid in full, the security
interest in such Asset or Collateral created by this Pledge Agreement shall be
released. When all the Secured Obligations have been paid in full, this Pledge
Agreement shall terminate. Upon partial release or termination of this Pledge
Agreement, the Secured Party shall, upon the request and at the sole cost and
expense of Pledgor, forthwith assign, transfer, and deliver to Pledgor, against
receipt and without recourse to or warranty by the Secured Party, such of the
Collateral to be released (in the case of a release) as may be in the
possession of the Secured Party and as shall not have been sold or otherwise
applied pursuant to the terms hereof, and, with respect to any other
Collateral, proper instruments (including UCC termination statements on Form
UCC-3) acknowledging the termination of this Pledge Agreement or the release of
such pledged Collateral, as the case may be.

       Section 4.3 Continuing Security Interest; Assignment. This Pledge
Agreement shall create a continuing security interest in the Collateral and
shall (i) be binding upon Pledgor, its successors, and assigns and (ii) inure,
together with the rights and remedies of the Secured Party hereunder, to the
benefit of the Secured Party and each of its successors, transferees, and
assigns; no other persons (including, without limitation, any other creditor of
Pledgor) shall have any interest herein or any right or benefit with respect
hereto.

       Section 4.4 Severability of Provisions. If any one or more of the
covenants, agreements, provisions, or terms of this Pledge Agreement shall for
any reason whatsoever be held invalid, then such covenants, agreements,
provisions, or terms shall be deemed severable from the remaining covenants,
agreements, provisions, or terms of this Pledge Agreement and shall in no way
affect the validity or enforceability of the other provisions of this Pledge
Agreement.

       Section 4.5 Further Assurances. The Pledgor agrees to do and perform,
from time to time, any and all acts and to execute any and all further
instruments required or reasonably requested by the Secured Party to maintain
the perfection and the priority of the Secured Party's interest and to effect
more fully the purposes of this Pledge Agreement.

       Section 4.6 No Waiver; Cumulative Remedies. No failure to exercise and
no delay in exercising, on the part of the Secured Party, any right, remedy,
power, or privilege hereunder, shall operate as a waiver thereof; nor shall any
single or partial exercise of any right, remedy, power, or privilege hereunder
preclude any other or further exercise thereof or the exercise of any other
right, remedy, power, or privilege. The rights, remedies, powers, and
privileges herein provided are cumulative and not exhaustive of any rights,
remedies, powers, and privileges provided by law.

       Section 4.7 Amendment. This Pledge Agreement may not be modified,
amended, waived, or supplemented except by a writing signed by each of the
parties hereto and approved by the New York State Insurance Department.

       Section 4.8 Headings. The headings herein are for purposes of reference
only and shall not otherwise affect the meaning or interpretation of any
provision hereof.

                                      -7-

<PAGE>

       Section 4.9 GOVERNING LAW. THIS PLEDGE AGREEMENT SHALL BE GOVERNED BY
AND CONSTRUED IN ACCORDANCE WITH THE LOCAL LAWS OF THE STATE OF NEW YORK,
WITHOUT REGARD TO ITS PRINCIPLES OF CHOICE OF LAW.

       Section 4.10 Submission to Jurisdiction. Pledgor hereby irrevocably
submits to the jurisdiction of the federal and state courts of competent
jurisdiction in the State of New York in any suit or proceeding arising out of
this Pledge Agreement or the transactions contemplated hereby, agrees to be
bound by any judgment rendered by such courts in connection with this Pledge
Agreement, and waives any and all objections to jurisdiction that it may have
under the laws of New York or any other jurisdiction.

                                      -8-

<PAGE>

       IN WITNESS WHEREOF, the undersigned have caused this Pledge Agreement to
be duly executed and delivered by their respective duly authorized officers as
of the day and year first above written.

                                             ROAD BAY INVESTMENTS, LLC

                                             By:  -----------------------------
                                                  Name: E. Paul McKernan
                                                  Title: Authorized Signatory

                                             By:  -----------------------------
                                                  Name: P. Sean Giblin
                                                  Title: Authorized Signatory

                                             ALLSTATE LIFE INSURANCE COMPANY OF
                                              NEW YORK

                                             By:  -----------------------------
                                                  Name: David L. Kocourek
                                                  Title: Authorized Signatory

                                             By:  -----------------------------
                                                  Name: Michael Moran
                                                  Title: Authorized Signatory

                                      -9-<PAGE>

                                                                  EXHIBIT 10.24

--------------------------------------------------------------------------------

                           ASSET PURCHASE AGREEMENT

                                    Between

                 ALLSTATE LIFE INSURANCE COMPANY OF NEW YORK,
                                   as Seller

                                      and

                          ROAD BAY INVESTMENTS, LLC,
                                 as Purchaser

                        Dated as of September 25, 2009

--------------------------------------------------------------------------------

<PAGE>

                               TABLE OF CONTENTS

                                                                        PAGE

    ARTICLE I   DEFINITIONS                                              1

       Section 1.01. Definitions                                         1

       Section 1.02. Other Definitional Provisions.                      2

    ARTICLE II   PURCHASE AND SALE OF ASSETS                             3

       Section 2.01. Purchase and Sale of Assets                         3

       Section 2.02. Delivery and Payment                                3

       Section 2.03. Forms of Notes                                      3

    ARTICLE III   TERMS AND CONDITIONS OF REPAYMENT OF NOTES; MATURITY   3

       Section 3.01. Interest                                            3

       Section 3.02. Principal                                           3

       Section 3.03. Payments by the Purchaser.                          3

       Section 3.04. Prepayment                                          4

    ARTICLE IV   REGISTRATION OF NOTES; TRANSFER AND EXCHANGE            4

       Section 4.01. Note Register                                       4

       Section 4.02. Exchanges and Transfers                             4

    ARTICLE V   EVENTS OF DEFAULT                                        4

       Section 5.01. Events of Default                                   4

       Section 5.02. Remedies Upon an Event of Default                   5

    ARTICLE VI   MISCELLANEOUS                                           5

       Section 6.01. Notices                                             5

       Section 6.02. Amendments, Waivers.                                5

       Section 6.03. Successors and Assigns; Third Party Beneficiaries   5

       Section 6.04. Severability                                        5

       Section 6.05. Binding Effect                                      6

                                      -i-

<PAGE>

             Section 6.06. GOVERNING LAW; CONSENT TO JURISDICTION  6

             Section 6.07. Execution in Counterparts               6

             Section 6.08. Entire Agreement                        6

             Section 6.09. Headings                                6

SCHEDULES AND EXHIBITS

Schedule I   Initial Assets
Schedule II  Notice Information
Exhibit A    Form of Note

                                     -ii-

<PAGE>

   This ASSET PURCHASE AGREEMENT, dated as of [      ], 2009, is made by and
between Allstate Life Insurance Company of New York, a life insurance company
domiciled in New York (together with its successors and assigns, the "Seller"),
and Road Bay Investments, LLC, a limited liability company organized under the
laws of the State of Delaware (together with its successors and assigns, the
"Purchaser").

                                   RECITALS

   WHEREAS, the Seller desires to sell to the Purchaser on the date hereof and
from time to time hereafter on or before December 31, 2010, and the Purchaser
desires to purchase from the Seller, commercial mortgage loans or
participations in commercial mortgage loans with an aggregate fair value not in
excess of $50,000,000 (the "Assets"); and

   WHEREAS, as consideration for the sale of the Assets, the Seller shall
receive one or more notes (the " Notes") from the Purchaser with an aggregate
principal amount equal to the fair value of the Assets;

   NOW, THEREFORE, for full and fair consideration, the parties hereto agree as
follows:

                                   ARTICLE I
                                  DEFINITIONS

   Section 1.01 Definitions. The following capitalized terms shall have the
following meanings:

   "Agreement" means this Asset Purchase Agreement, as the same may from time
to time be amended, supplemented, or otherwise modified in accordance with the
terms hereof.

   "Assets" has the meaning specified in the first WHEREAS clause in the
recitals hereof.

   "Business Day" means any day other than a Saturday or a Sunday or any day on
which banking institutions in Chicago, Illinois, are authorized or obligated by
law, regulation, or executive order to be closed.

   "Event of Default" has the meaning specified in Section 5.01 hereof.

   "Fair Value" with respect to any Asset means the fair value of such Asset on
the date of purchase and sale under this Agreement determined in accordance
with statutory accounting principles as set forth in the National Association
of Insurance Commissioners' Accounting Practices and Procedures Manual as then
in effect.

   "Holder" means, with respect to any Note, the Person in whose name such Note
is registered in the Note Register.

   "Initial Assets" has the meaning specified in Section 2.01 hereof.

   "Interest Payment Date" means each April 1 and October 1, commencing
[          ], provided that if such day is not a Business Day, the next
succeeding Business Day.

   "Interest Period" means, with respect to any Note, (a) in the case of the
initial interest period with respect to such Note, the period from, and
including, the date such Note was issued to the Seller to, but excluding, the
immediately following Payment Date, (b) thereafter, the period from, and
including, the preceding Payment Date to, but excluding, the next succeeding
Payment Date, and (c) in the case of the final interest period with respect to
such Note, the period from, and including, the preceding Payment Date to, but
excluding, the Maturity Date.

<PAGE>

   "Interest Rate" means, with respect to each Note, the rate set forth in such
note. The rate for each Note shall be equal to the sum of (a) the 7 Year CMT
Rate on the issuance date of such Note, plus (b) such spread, expressed in
basis points, as shall be agreed between the Seller and Purchaser.

   "Maturity Date" means, with respect to a Note, the date on which all
outstanding unpaid principal on such Note becomes due and payable, whether at
the Stated Maturity Date or by acceleration pursuant to Section 5.02.

   "Note Register" has the meaning specified in Section 4.01 hereof.

   "Notes" has the meaning specified in the second WHEREAS clause in the
recitals hereof.

   "Payment Date" means any Interest Payment Date or Maturity Date.

   "Person" means an individual, corporation (including a business trust),
partnership, limited liability company, joint venture, association, joint stock
company, trust (including any beneficiary thereof), unincorporated association
or government or any agency or political subdivision thereof.

   "Purchaser" has the meaning specified in the introduction to this Agreement.

   "Record Date" means the date on which the Holders of any Note entitled to
receive a payment with respect to principal or interest on the next succeeding
Payment Date are determined, such date as to any Payment Date being five
(5) Business Days prior to such Payment Date.

   "Seller" has the meaning specified in the introduction to this Agreement.

   "Stated Maturity Date" means, with respect to each Note, the seventh
(7/th/) anniversary of the issuance date of such

   Note, provided such date is a Business Day.

   "7 Year CMT Rate" for any date means the seven year Constant Maturity
Treasury Yield as reported in the Wall Street Journal for the third Business
Day prior to such date.

   Section 1.02 Other Definitional Provisions.

          (a) All terms defined in this Agreement shall have the defined
       meanings when used in any certificate or other document made or
       delivered pursuant hereto.

          (b) The words "hereof," "herein," and "hereunder" and words of
       similar import when used in this Agreement shall refer to this Agreement
       as a whole and not to any particular provision of this Agreement; and
       Section and subsection references contained in this Agreement are
       references to Sections or subsections in or to this Agreement unless
       otherwise specified.

                                      -2-

<PAGE>

                                  ARTICLE II
                          PURCHASE AND SALE OF ASSETS

   Section 2.01 Purchase and Sale of Assets. Upon the terms and subject to the
conditions set forth in this Agreement, and in reliance on the covenants and
agreements herein set forth, on the date hereof, the Seller shall sell and the
Purchaser shall purchase the Assets listed on Schedule I (the "Initial
Assets"). From time to time on or after the date hereof and on or before
December 31, 2010, the Seller may, on ten (10) Business Days' notice to the
Purchaser, offer to sell to the Purchaser, and the Purchaser may purchase,
additional Assets. Notwithstanding the foregoing provisions of this
Section 2.01, the aggregate fair value of Assets that may be purchased and sold
under this agreement shall not exceed $50,000,000. As security for the
performance of the Purchaser's obligations under this Agreement, the parties
hereto shall, concurrent with this Agreement, enter into a Pledge and Security
Agreement wherein Purchaser grants a pledge of and security interest in the
Purchaser's right, title, and interest in the Assets and the other collateral
identified therein.

   Section 2.02 Delivery and Payment. The Seller shall deliver the Initial
Assets to the Purchaser on the date hereof. Against delivery of the Initial
Assets or any additional Assets, the Purchaser shall issue to Seller Notes with
an aggregate principal amount equal to the aggregate Fair Value of such Assets.
Purchaser shall issue a separate Note for the purchase of each Asset.

   Section 2.03 Forms of Notes. The Notes shall be issued substantially in the
form of the Note attached as Exhibit A hereto and shall be duly executed and
delivered by the Purchaser as hereinafter provided.

                                  ARTICLE III
             TERMS AND CONDITIONS OF REPAYMENT OF NOTES; MATURITY

   Section 3.01 Interest. Each Note shall bear interest during each Interest
Period at the Interest Rate set forth in such Note. Interest shall be due and
payable on each Interest Payment Date. Interest shall be computed on the basis
of a 360-day year comprised of twelve 30-day months.

   Section 3.02 Principal. The principal of each Note shall be due and payable
on the Stated Maturity Date.

   Section 3.03 Payments by the Purchaser.

          (a) On any Payment Date, the Purchaser shall pay in accordance with
       the terms of this Agreement: (i) all accrued but unpaid interest on the
       Notes and (ii) any principal payments due with respect to the Notes, if
       any.

          (b) Any interest or principal that has not been paid when due shall
       accrue interest at a rate per annum equal to the Interest Rate from and
       including, for each such amount, the Payment Date therefor, up to but
       excluding the date on which each such amount is actually paid.

          (c) All payments required to be made by the Purchaser with respect to
       this Article III shall be made: (i) by wire transfer of immediately
       available funds and/or the transfer of marketable securities (valued at
       their fair market value) not later than 1:00 p.m., Chicago time, and
       (ii) to the account of the Seller, or to such other account as the
       Seller may have most recently designated in writing for such purpose by
       notice to the Purchaser.

                                      -3-

<PAGE>

          (d) The Purchaser and any agent of the Purchaser may treat the Person
       in whose name any Note is registered on the Note Register as the owner
       of such Note on the applicable Record Date for the purpose of receiving
       payments of principal and interest on such Note and on any other date
       for all other purposes whatsoever (regardless of whether such payment is
       overdue), and neither the Purchaser nor any agent of the Purchaser shall
       be affected by notice to the contrary.

   Section 3.04 Prepayment. The Purchaser may prepay the Notes, in part or in
full, at any time. Upon Purchaser's disposition of any Asset, or any real
estate related to such Asset, Purchaser shall prepay, in full, the Note issued
in connection with the purchase of such Asset.

                                  ARTICLE IV
                 REGISTRATION OF NOTES; TRANSFER AND EXCHANGE

   Section 4.01 Note Register. The Purchaser shall keep a register (the "Note
Register") at its office in Northbrook, Illinois, in which it shall provide for
the registration of the Notes and the registration of transfers of the Notes.
Such Note Register shall be in written form or in any other form capable of
being converted into written form within a reasonable time. Upon surrender for
registration of transfer of any Note at the office of the Purchaser and in
compliance with the restrictions set forth in any legend appearing on any Note,
the Purchaser shall execute and deliver, in the name of the designated
transferee or transferees, one or more new Notes of any authorized denomination
and of like terms.

   Section 4.02 Exchanges and Transfers. At the option of any Holder, any Note
may be exchanged for one or more Notes, of any authorized denomination and of
like terms, upon surrender of the Note to be exchanged at the office of the
Purchaser or such other office as the Purchaser may designate for such
purposes. Whenever any Note is surrendered for exchange, the Purchaser shall
execute and deliver the Note that the Holder making the exchange is entitled to
receive. Any Notes issued upon any registration of transfer or exchange of a
Note shall be the valid obligations of the Purchaser, evidencing the same debt,
and entitled to the same benefits under this Agreement, as the Note surrendered
upon such registration of transfer or exchange. Every Note presented or
surrendered for registration of transfer or exchange shall be duly endorsed, or
be accompanied by a written instrument of transfer in form satisfactory to the
Purchaser duly executed by the Holder thereof or its attorney duly authorized
in writing. No service charge shall be made to a purchaser for any registration
of transfer or exchange of a Note, but the Purchaser may require payment of a
sum sufficient to cover the expenses of delivery (if any) not made by regular
mail or any tax or other governmental charge payable in connection therewith.

                                   ARTICLE V
                               EVENTS OF DEFAULT

   Section 5.01 Events of Default. The occurrence of either of the following
events shall constitute an "Event of Default" hereunder:

          (a) default is made in the payment of any installment of interest on
       the Notes when such interest becomes due and payable and such default
       continues for a period of 30 days, or

          (b) default is made in the payment of the principal of the Notes when
       such principal becomes due and payable.

                                      -4-

<PAGE>

   Section 5.02 Remedies Upon an Event of Default. Upon the occurrence of an
Event of Default, the Seller may give notice of such Event of Default to the
Purchaser and demand payment of the entire outstanding principal amount of such
Notes, plus all accrued but unpaid interest, plus interest on such overdue
principal and overdue interest at the Interest Rate, plus such further amounts
as shall be necessary to cover the Seller's costs and expenses of collection,
including reasonable attorneys' fees.

                                  ARTICLE VI
                                 MISCELLANEOUS

   Section 6.01 Notices. Except in the case of notices and other communications
expressly permitted to be given by telephone, all notices and other
communications provided for herein shall be delivered by the following means:
(i) hand delivery, (ii) overnight courier service (e.g., FedEx, or Airborne
Express); (iii) registered or certified U.S. mail, postage prepaid, and return
receipt requested; or (iv) facsimile transmission. If any notice or other
communication provided for herein is sent by any party by electronic e-mail it
shall not be deemed to have been delivered to the addressee if the party
sending such notice or communication receives a response from the intended
addressee that he or she will not be able to retrieve e-mail due to vacation,
other absence from the office, system failure, or other reason. All such
notices shall be delivered to the parties as set forth on Schedule II hereof.
All notices and other communications given to any party hereto in accordance
with the provisions of this Agreement shall be deemed to have been given on the
date of receipt.

   Section 6.02 Amendments, Waivers.

          (a) Except as otherwise expressly provided herein, no amendment or
       waiver of any provision of this Agreement shall in any event be
       effective unless the same shall be in writing, approved by the New York
       State Insurance Department, and signed by the parties hereto.

          (b) The Seller and the Purchaser may amend any provision of this
       Agreement to effectuate the division of any Notes held by the Seller
       into paid and unpaid portions and the surrender of the paid portion.

          (c) Each such amendment, waiver, or consent shall be effective only
       in the specific instance and for the specific purpose for which given. A
       failure or delay in exercising any right, power, or privilege with
       respect to this Agreement will not be presumed to operate as a waiver,
       and a single or partial exercise of any right, power, or privilege will
       not be presumed to preclude any subsequent or further exercise of that
       right, power, or privilege or the exercise of any other right, power, or
       privilege.

   Section 6.03 Successors and Assigns; Third Party Beneficiaries. The
provisions of this Agreement shall be binding upon and inure to the benefit of
the parties hereto and their respective successors. This Agreement shall not be
transferred or assigned under any circumstances. Nothing in this Agreement,
expressed or implied, shall be construed to confer upon any Person (other than
the parties hereto and their respective successors and permitted transferees)
any legal or equitable right, remedy, or claim under or by reason of this
Agreement.

   Section 6.04 Severability. Any provision of this Agreement held to be
invalid, illegal, or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such invalidity, illegality, or
unenforceability without affecting the validity, legality, and enforceability
of the remaining provisions hereof; and the invalidity of a particular
provision in a particular jurisdiction shall not invalidate such provision in
any other jurisdiction.

                                      -5-

<PAGE>

   Section 6.05 Binding Effect. This Agreement shall remain in full force and
effect until such time as all of the Notes issued by the Purchaser shall have
been repaid in full and cancelled.

   Section 6.06 GOVERNING LAW; CONSENT TO JURISDICTION. THIS AGREEMENT SHALL IN
ALL RESPECTS BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK.

   Section 6.07 Execution in Counterparts. This Agreement may be executed in
any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed shall be deemed to be an original
and all of which when taken together shall constitute one and the same
agreement. Delivery of an executed counterpart of a signature page of this
Agreement by telecopy shall be effective as delivery of a manually executed
counterpart of this Agreement.

   Section 6.08 Entire Agreement. This Agreement constitutes the entire
agreement between the parties relating to the subject matter hereof and
supersedes any and all previous agreements and understandings, oral or written,
relating to the subject matter hereof.

   Section 6.09 Headings. Article and Section headings used herein are for
convenience of reference only, are not part of this Agreement, and shall not
affect the construction of, or be taken into consideration in interpreting,
this Agreement.

                           [SIGNATURE PAGE FOLLOWS]

                                      -6-

<PAGE>

   IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by
their respective officers thereunto duly authorized, as of the first date
written above.

                                           ALLSTATE LIFE INSURANCE COMPANY
                                            OF NEW YORK
                                           as Seller

                                           By:     -----------------------------
                                           Name: David L. Kocourek
                                           Title: Authorized Signatory

                                           By:     -----------------------------
                                           Name: Michael Moran
                                           Title: Authorized Signatory

                                           ROAD BAY INVESTMENTS, LLC
                                           as Purchaser

                                           By:     -----------------------------
                                           Name: E. Paul McKernan
                                           Title: Authorized Signatory

                                           By:     -----------------------------
                                           Name: P. Sean Giblin
                                           Title: Authorized Signatory

                                      -7-

<PAGE>

                                  SCHEDULE I
                                      TO
 ASSET PURCHASE AGREEMENT BETWEEN ALLSTATE LIFE INSURANCE COMPANY OF NEW YORK
                         AND ROAD BAY INVESTMENTS, LLC

<PAGE>

                                  SCHEDULE II
                                      TO
 ASSET PURCHASE AGREEMENT BETWEEN ALLSTATE LIFE INSURANCE COMPANY OF NEW YORK
                         AND ROAD BAY INVESTMENTS, LLC

                              NOTICE INFORMATION

ADDRESS FOR NOTICES TO SELLER:

Allstate Life Insurance Company of New York
100 Motor Parkway, Suite 132
Hauppauge, Suffolk, NY, 11788-5107
WITH A COPY TO:
Allstate Life Insurance Company of New York
3100 Sanders Road
Northbrook, Illinois 60062
Attention: Allstate Financial - Chief Financial Officer

ADDRESS FOR NOTICES TO PURCHASER:

Road Bay Investments, LLC
3075 Sanders Road, Suite G5C
Northbrook, IL 60062
Attention: President

<PAGE>

                                   EXHIBIT A

                                 FORM OF NOTE

                                                                   [ISSUE DATE]

Road Bay Investments, LLC, a limited liability company duly organized and
existing under the laws of the State of Delaware (the "Company"), for value
received hereby promises to pay to Allstate Life Insurance Company of New York
("ALNY"), or its assigns, the outstanding balance of the principal sum of
[                ] in cash on [STATED MATURITY DATE] and to pay interest
thereon semi-annually on the first day of April and October in each year,
commencing [FIRST INTEREST DATE], at [RATE], until the principal hereof is paid
in full, except that the final payment of any accrued and unpaid interest shall
be concurrent with the final payment of principal. Interest will be computed on
the basis of a 360-day year of twelve 30-day months. All principal and interest
shall be paid at the principal corporate office of the Company or such other
place, which shall be acceptable to the Company, as the holder hereof shall
designate in writing to the Company, in collected and immediately available
funds in lawful money of the United States of America. Principal and interest
shall be payable on the terms and conditions set forth below

       1. The Company covenants that if:

          (a) default is made in the payment of any installment of interest on
       this Note when such interest becomes due and payable and such default
       continues for a period of 30 days, or

          (b) default is made in the payment of the principal of this Note when
       such principal becomes due and payable,

the Company will, upon demand by the holder of this Note, pay to it the entire
outstanding principal amount of this Note, plus all accrued but unpaid
interest, plus interest on such overdue principal and overdue interest at the
interest rate borne by this Note; and, in addition thereof, such further amount
as shall be sufficient to cover the costs and expenses of collection, including
reasonable attorneys' fees.

       2. Each payment made hereunder will be credited first to accrued but
unpaid interest, if any, and the balance of such payment will be credited to
the principal amount hereof.

       3. In the event that any payment of principal or interest on this Note
is scheduled to be made on a day that is not a Business Day, then such payment
shall be made on the next following Business Day and no additional interest
shall accrue as a result of payment on such following Business Day. For the
purpose of this paragraph, "Business Day" shall mean any day that is not a
Saturday, Sunday, or any other day on which banking institutions in the State
of Illinois are permitted or required by any applicable law to close.

       4. The Company's obligations under this Note are secured pursuant to
that certain Pledge and Security Agreement dated as of       , 20   between the
Company and ALNY.

       5. The Company may prepay this Note, in part or in full, at any time.
The Company shall prepay this Note upon disposition of the asset, or any real
estate related to such asset, purchased by the Company with this Note.

<PAGE>

       6. In the event the Company consolidates or merges into another entity
or transfers substantially all of its assets to another entity, the entity into
which the Company consolidates or merges or to which the assets of the Company
are transferred must assume the liability of the Company hereunder.

       7. This Note shall be construed in accordance with, and governed by, the
laws of the State of New York.

   IN WITNESS WHEREOF, the Company has caused this Note to be executed in its
name and attested to by its authorized officer, all as of the date first
written above.

                                             ROAD BAY INVESTMENTS, LLC

                                             By:  -----------------------------
                                                  Name:
                                                  Title:

Attest:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00187-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00187-of-00352.parquet"}]]