Document:

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                                                                   EXHIBIT 10.18

                                    GUARANTY

                                (Securities Laws)

     THIS GUARANTY ("GUARANTY") is made as of this 18th day of August, 2006 in
favor of LASALLE BANK NATIONAL ASSOCIATION, a national banking association,
having an address at 135 South LaSalle Street, Suite 3410, Chicago, Illinois
60603 (together with its successors and assigns, "LENDER") by TRIPLE NET
PROPERTIES, LLC, a Virginia limited liability company, having an address at 1551
North Tustin Avenue, Ste. 200, Santa Ana, California 92705 ("GUARANTOR").

                                   BACKGROUND

     A. Lender has agreed to loan the principal amount of Nine Million One
Hundred Forty Six Thousand and No/100 Dollars ($9,146,000.00) ("LOAN") to NNN
Southpointe, LLC, a Delaware limited liability company, ("BORROWER"). The Loan
also will be evidenced by Borrower's promissory note to Lender of even date
herewith ("NOTE") and secured by, among other things, a mortgage, deed of trust,
deed to secure debt or similar security instrument made by Borrower to Lender
also of even date herewith ("SECURITY INSTRUMENT") which grants to Lender, among
other things, a first lien on the property described therein.

     B. Guarantor will derive substantial benefit from Lender's making of the
Loan.

     C. Lender requires as a condition to making the Loan that Guarantor execute
this Guaranty.

     NOW, THEREFORE, to induce Lender to make the Loan, and in consideration of
the substantial benefit Guarantor will derive from the Loan, and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, and intending to be legally bound hereby, Guarantor hereby agrees
as follows:

                                    ARTICLE 1

                                  DEFINED TERMS

     Section 1.01 Defined Terms. Capitalized terms used in this Guaranty and not
specifically defined in this Guaranty have the meaning provided in the Security
Instrument.

                                    ARTICLE 2

                              OBLIGATION GUARANTEED

     Section 2.01 Guaranty. Guarantor irrevocably and unconditionally guarantees
to Lender the prompt payment of all losses, expenses, and other liabilities
arising out of or attributable to (i) the violation of any applicable law
governing the sale of securities in connection with the structure, organization,
sale or syndication of membership interests in NNN Southpointe, LLC, or in the
sale or syndication of tenant in common ownership interests in the Property, and
(ii) the Securities Liabilities (as hereinafter defined) and any legal or other
expenses reasonably incurred by Lender, in investigating or defending the
Securities Liabilities,

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to the extent such Securities Liabilities relate to any Securities and Exchange
Commission investigation, inquiry or proceeding relating to Triple Net
Properties, LLC or any of its affiliates (collectively, the "Guaranteed
Obligations"). As used herein, the term "Securities Liabilities" shall mean any
liability, obligation or other remedy (including, without limitation, any right
of rescission in favor of any Borrower or any member of any Borrower) arising
from or related to that certain investigation by the Securities and Exchange
Commission (the "SEC") captioned "In the matter of Triple Net Properties, LLC"
(as well as any subsequent related investigation involving any affiliate of
Triple Net Properties, LLC) pursuant to which the SEC has requested information,
including financial information, from Triple Net Properties, LLC relating to
disclosure in public and private securities offerings sponsored by Triple Net
Properties and its affiliates.

     Section 2.02 Continuing Obligation. This Guaranty is a continuing guaranty
and in full force and effect and will be discharged only if and when the Loan
has been paid in full, and all obligations under the Security Instrument and
other Loan Documents have been fully performed; provided, however, that
notwithstanding any of the foregoing to the contrary, this Guaranty shall remain
in full force and effect for so long as any payment hereunder may be voided in
bankruptcy proceedings as a preference or for any other reason.

     Section 2.03 Direct Action Against Guarantor. Guarantor's liability under
this Guaranty is a guaranty of payment and performance and not of collection.
Lender has the right to require Guarantor to pay, comply with and satisfy its
obligations and liabilities under this Guaranty, and shall have the right to
proceed immediately against Guarantor with respect thereto, without being
required to attempt recovery first from Borrower or any other party, without
first suing on the Note or any other Loan Document and without demonstrating
that the collateral for the Loan is inadequate security or that Lender has
exercised (to any degree) or exhausted any of Lender's other rights and remedies
with respect to Borrower or any collateral for the Loan.

                                    ARTICLE 3

                          GENERAL TERMS AND CONDITIONS

     Section 3.01 Payments Due; Interest on Amounts Payable Hereunder. Amounts
payable to Lender under this Guaranty shall be immediately due and payable on
Lender's written demand and shall be paid without reduction by set-off, defense,
counterclaim or cross-claim. Amounts not paid within ten (10) business days of
Lender's written demand shall, at Lender's option and without prejudice to
Lender's rights for failure to pay, bear interest at the Default Rate (as
defined in the Note) from the date of Lender's demand notice until paid in full.
Interest at the lower of the Default Rate (or the maximum interest rate
permitted by applicable law) also shall accrue on any judgment obtained by
Lender in connection with the enforcement or collection of amounts due under
this Guaranty until such judgment is paid in full. If interest paid or payable
hereunder is deemed to exceed the maximum rate permitted by law, then the amount
to be paid shall be immediately reduced to such maximum rate and thereafter
computed at such maximum rate. Lender may apply all money received by Lender in
such priority and proportions as Lender may elect.

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     Section 3.02 Cumulative Remedies. Guarantor acknowledges, that following an
Event of Default with respect to the Loan, Lender shall be entitled to
accelerate the Loan and exercise all other rights and remedies as have been
provided to Lender hereunder, under the other Loan Documents, by law or in
equity including without limitation enforcement of this Guaranty. All rights and
remedies are cumulative and may be exercised independently, concurrently or
successively in Lender's sole discretion and as often as occasion therefor shall
arise. Lender's delay or failure to accelerate the Loan or exercise any other
remedy upon the occurrence of an Event of Default with respect to the Loan shall
not be deemed a waiver of such right as remedy. No partial exercise by Lender of
any right or remedy will preclude further exercise thereof. Notice or demand
given to Borrower in any instance will not entitle Borrower to notice or demand
in similar or other circumstances nor constitute Lender's waiver of its right to
take any future action in any circumstance without notice or demand (except
where expressly required by this Guaranty to be given). Lender may release other
security for the Loan, may release any party liable for the Loan, may grant
extensions, renewals or forbearances with respect thereto, may accept a partial
or past due payment or grant other indulgences, or may apply any other security
held by it to payment of the Loan, in each case without prejudice to its rights
under this Guaranty and without such action being deemed an accord and
satisfaction or a reinstatement of the Loan. Lender will not be deemed as a
consequence of its delay or failure to act, or any forbearances granted, to have
waived or be estopped from exercising any of its rights or remedies.

     Section 3.03 Enforcement Costs. Guarantor hereby agrees to pay, on written
demand by Lender, all costs incurred by Lender in collecting any amount payable
under this Guaranty or enforcing or protecting its rights under the Guaranty in
each case whether or not legal proceedings are commenced. Such fees and expenses
include, without limitation, reasonable fees for attorneys, paralegals and other
hired professionals, a reasonable assessment of the cost of services performed
by Lender's default management staff, court fees, costs incurred in connection
with pre-trial, trial and appellate level proceedings (including discovery and
expert witnesses), costs incurred in post-judgment collection efforts or in any
bankruptcy proceeding. Amounts incurred by Lender shall be immediately due and
payable, and shall bear interest at the Default Rate from the date of
disbursement until paid in full, if not paid in full within ten (10) business
days after Lender's written demand for payment.

     Section 3.04 Unimpaired Liability. Guarantor acknowledges and agrees that
all obligations hereunder are and shall be absolute and unconditional under any
and all circumstances without regard to the validity, regularity or
enforceability of any or all of the Loan Documents or the existence of any other
circumstance which might otherwise constitute a legal or equitable discharge or
defense of a guarantor or surety. Without limiting the foregoing, Guarantor
acknowledges and agrees that its liability hereunder shall in no way be
released, terminated, discharged, limited or impaired by reason of any of the
following (whether or not Guarantor has any knowledge or notice thereof): (a)
the irregularity, invalidity or unenforceability, in whole or in part, of any of
the Loan Documents against Borrower or Lender; (b) Borrower's lack of authority
or lawful right to enter into any of the Loan Documents; (c) any modification,
supplement, extension, consolidation, restatement, waiver or consent provided by
Lender with respect to any of the Loan Documents including, without limitation,
approval of a Transfer or the grant of extensions of time for payment or
performance; (d) failure to record any Loan Document or to perfect any security
interest intended to be provided thereby or otherwise

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to protect, secure or insure any collateral for the Loan; (e) Lender's failure
to exercise, or delay in exercising, any rights or remedies Lender may have
under the Loan Documents or under this Guaranty Agreement; (f) the release or
substitution, in whole or in part, of any collateral for the Loan or acceptance
of additional collateral for the Loan; (g) the release of Borrower from
performance, in whole or in part, under any of the other Loan Documents, in each
case whether by operation of law, Lender's voluntary act, or otherwise; (h) any
bankruptcy, insolvency, reorganization, adjustment, dissolution, liquidation or
other like proceeding involving or affecting Borrower, any member of Borrower,
any other Guarantor or Lender; (i) the termination or discharge of the Security
Instrument or the exercise of any power of sale or any foreclosure (judicial or
otherwise) or delivery or acceptance of a deed-in-lieu of foreclosure; (j) the
existence of any claim, setoff, counterclaim, defense or other rights which
Guarantor may have against Borrower, any member of Borrower, any other Guarantor
or Lender, whether in connection with the Loan or any other transaction; (k) the
accuracy or inaccuracy of the representations and warranties made by Guarantor
in this Guaranty; or (l) any other circumstance which might otherwise constitute
a legal or equitable discharge or defense of a guarantor.

     Section 3.05 Waivers. Guarantor hereby waives and relinquishes, to the
fullest extent permitted by law: (a) all rights or claims of right to cause a
marshalling of assets or to cause Lender to proceed against any of the
collateral for the Loan before proceeding under this Guaranty against it; (b)
all rights and remedies accorded by applicable law to sureties or guarantors,
except any rights of subrogation and contribution (the exercise of which are
subject to the terms of this Guaranty); (c) the right to assert a counterclaim,
other than a mandatory or compulsory counterclaim, in any action or proceeding
brought by or against it; (d) notice of acceptance of this Guaranty and of any
action taken or omitted in reliance hereon; (e) presentment for payment, demand,
protest, notice of nonpayment or failure to perform or observe, or any other
proof, notice or demand to which it might otherwise be entitled with respect to
its obligations hereunder; and (f) all homestead or exemption rights against the
obligations hereunder and the benefits of any statutes of limitation or repose.

     Section 3.06 Guarantor Bound by Judgment Against Borrower. Guarantor agrees
that it shall be bound conclusively, in any jurisdiction, by the judgment in any
action by Lender against Borrower in connection with the Loan Documents
(wherever instituted) as if Guarantor were a party to such action even if not so
joined as a party.

     Section 3.07 Certain Consequences of Borrower's Bankruptcy. (a) If Borrower
shall be subject to the protection of the Bankruptcy Code or any insolvency law
the effect of which is to prevent or delay Lender from taking any remedial
action against Borrower, including the exercise of any option Lender has to
accelerate and declare the Loan immediately due and payable, Lender may, as
against Guarantor, nevertheless declare the Loan due and payable and enforce any
or all of its rights and remedies against Guarantor as provided herein.

          (b) Any payment made on the Loan, whether made by Borrower or
Guarantor or any other Person, that is required to be refunded or recovered from
Lender as a preference or a fraudulent transfer or is otherwise set-aside
pursuant to the Bankruptcy Code or any insolvency or other debtor relief law
shall not be considered as a payment made on the Loan or under this Guaranty.
Guarantor's liability under this Guaranty shall continue with respect to any
such payment, or be deemed reinstated, with the same effect as if such payment
had not been received

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by Lender, notwithstanding any notice of revocation of this Guaranty prior to
such avoidance or recovery or payment in full of the Loan, until such time as
all periods have expired within which Lender could be required to return any
amount paid at any time on account of the Guaranteed Obligations.

          (c) Until payment in full of the Loan (including interest accruing on
the Note after the commencement of a proceeding by or against Borrower under the
Bankruptcy Code, which interest the parties agree remains a claim that is prior
and superior to any claim of Guarantor notwithstanding any contrary practice,
custom or ruling in cases under the Bankruptcy Code generally), Guarantor agrees
not to accept any payment or satisfaction of any kind of indebtedness of
Borrower to Guarantor and hereby assigns such indebtedness to Lender, including
the right (but not the obligation) to file proof of claim and to vote in any
other bankruptcy or insolvency action, including the right to vote on any plan
of reorganization, liquidation or other proposal for debt adjustment under
Federal or state law.

     Section 3.08 Subrogation and Contribution. Guarantor agrees that no payment
by it under this Guaranty shall give rise to any rights of subrogation against
Borrower or the collateral for the Loan, unless and until Lender has received
full and indefeasible payment of the Loan. If the deferral of such rights shall
be unenforceable for any reason, Guarantor agrees that its rights of subrogation
shall be junior and subordinate to Lender's rights against Borrower and the
collateral for the Loan.

     Section 3.09 Subordination of Borrower's Obligations to Guarantor. Any
indebtedness of Borrower to Guarantor, now or hereafter existing, together with
any interest thereon, shall be and hereby is deferred, postponed and
subordinated to the prior payment in full of the Loan. Further, Guarantor agrees
that following the occurrence of an Event of Default, should Guarantor receive
any payment, satisfaction or security for any indebtedness owed by Borrower to
it, the same shall be delivered to Lender in the form received (endorsed or
assigned as may be appropriate) for application on account of, or as security
for, the Loan and until so delivered to Lender, shall be held in trust for
Lender as security for the Loan.

     Section 3.10 Lender Transferees; Secondary Market Activities. Guarantor
acknowledges and agrees that Lender, without notice to Guarantor or Guarantor's
prior consent, may assign all or any portion of its rights hereunder in
connection with any sale or assignment of the Loan or servicing rights related
to the Loan, each grant of participations in the Loan, a transfer of the Loan as
part of a securitization of the Loan (a "SECURITIZATION") in which Lender
assigns its rights to a securitization trustee, or a contract for the servicing
of the Loan, and that each such assignee, participant or servicer shall be
entitled to exercise all of Lender's rights and remedies hereunder. Guarantor
further acknowledges that Lender may provide to third parties with an existing
or prospective interest in the servicing, enforcement, ownership, purchase,
participation or Securitization of the Loan, including, without limitation, any
rating agency rating the securities issued in respect of a Securitization or
participation of the Loan, and any entity maintaining databases on the
underwriting and performance of commercial mortgage loans, any and all
information which Lender now has or may hereafter acquire relating to the Loan,
the Property or with respect to Borrower or Guarantor, as Lender determines
necessary or desirable. Guarantor irrevocably waives all rights it may have
under applicable law, if any, to prohibit such disclosure, including, without
limitation, any right of privacy.

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     Section 3.11 Financial Reports, Inspection of Records. Guarantor agrees to
furnish to Lender from time to time, by such dates as Lender may require (but no
more frequently than annually unless an Event of Default under the Security
Instrument or any other Loan Document exists, in which event Lender may require
same from time to time), Guarantor's Federal and State income tax returns, a
personal financial statement if Guarantor is an individual and a balance sheet
and statement of changes in Guarantor's financial position if Guarantor is not
an individual, in each case certified by such Guarantor as complete and
accurate. Such financial statements shall be in reasonable detail and prepared
in accordance with consistently applied accounting methods reasonably acceptable
to Lender.

                                    ARTICLE 4

                         REPRESENTATIONS AND WARRANTIES

     Section 4.01 Intentionally Omitted.

     Section 4.02 General. Guarantor individually represents and warrants that:

          (a) Authority. Guarantor has the full power and authority to execute
and deliver this Guaranty and to perform its obligations hereunder.

          (b) Valid and Binding Obligation. This Guaranty constitutes
Guarantor's legal, valid and binding obligation, enforceable against it in
accordance with its terms, except to the extent enforceability may be limited
under applicable bankruptcy and insolvency laws and similar laws affecting
creditors' rights generally and to general principles of equity.

          (c) No Conflict with Other Agreement. Guarantor's execution, delivery
and performance of this Guaranty will not (i) violate Guarantor's organizational
documents if Guarantor is not an individual, (ii) result in the breach of, or
conflict with, or result in the acceleration of, any obligation under any
guaranty, indenture, credit facility or other instrument to which Guarantor or
any of its assets may be subject, or (iii) violate any order, judgment or decree
to which Guarantor or any of its assets is subject.

          (d) No Pending Litigation. Except as otherwise disclosed to Lender, no
action, suit, proceeding or investigation currently is pending or, to the best
of Guarantor's knowledge, threatened against Guarantor which, either in any one
instance or in the aggregate, may have a material, adverse effect on Guarantor's
ability to perform its obligations under this Guaranty.

          (e) Consideration. Guarantor will derive substantial benefit from the
Loan to Borrower.

                                    ARTICLE 5

                                  MISCELLANEOUS

     Section 5.01 Notices. All notices and other communications under this
Guaranty are to be in writing and addressed in the case of Lender to the address
as set forth below and in the case

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of Guarantor, as set forth below Guarantor's signature hereto. Default or demand
notices shall be deemed to have been duly given upon the earlier of: (a) actual
receipt; (b) one (1) business day after having been timely deposited for
overnight delivery, fee prepaid, with a reputable overnight courier service,
having a reliable tracking system; (c) one (1) business day after having been
sent by telecopier (with answer back acknowledged) provided an additional notice
is given pursuant to (b); or (d) three (3) business days after having been
deposited in any post office or mail depository regularly maintained by the U.S.
Postal Service and sent by certified mail, postage prepaid, return receipt
requested, and in the case of clause (b) and (d) irrespective of whether
delivery is accepted. A new address for notice may be established by written
notice to the other parties; provided, however, that no address change will be
effective until written notice thereof actually is received by the party to whom
such address change is sent. Lender's notice address is as follows:

          LaSalle Bank National Association
          135 South LaSalle Street, Suite 3410
          Chicago, Illinois 60603
          Attention: Real Estate Capital Markets
          Facsimile No.: (312) 904-0900

     Section 5.02 Entire Agreement; Modification. This Guaranty is the entire
agreement between the parties hereto with respect to the subject matter hereof,
and supersedes and replaces all prior discussions, representations,
communications and agreements (oral or written). This Guaranty shall not be
modified, supplemented, or terminated, nor any provision hereof waived, except
by a written instrument signed by the party against whom enforcement thereof is
sought, and then only to the extent expressly set forth in such writing.

     Section 5.03 Binding Effect; Joint and Several Obligations. This Guaranty
is binding upon and inures to the benefit of Guarantor, Lender and their
respective heirs, executors, legal representatives, successors, and assigns,
whether by voluntary action of the parties or by operation of law. Guarantor may
not delegate or transfer its obligations under this Guaranty. If, at any time
during the term of the Loan, there is more than one Guarantor, each Guarantor
shall be jointly and severally liable hereunder.

     Section 5.04 Unenforceable Provisions. Any provision of this Guaranty which
is determined by a court of competent jurisdiction or government body to be
invalid, unenforceable or illegal shall be ineffective only to the extent of
such determination and shall not affect the validity, enforceability or legality
of any other provision, nor shall such determination apply in any circumstance
or to any party not controlled by such determination.

     Section 5.05 Duplicate Originals; Counterparts. This Guaranty may be
executed in any number of duplicate originals, and each duplicate original shall
be deemed to be an original. This Guaranty (and each duplicate original) also
may be executed in any number of counterparts, each of which shall be deemed an
original and all of which together constitute a fully executed Guaranty even
though all signatures do not appear on the same document.

     Section 5.06 Construction of Certain Terms. Defined terms used in this
Guaranty may be used interchangeably in singular or plural form, and pronouns
shall be construed to cover all

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genders. Article and section headings are for convenience only and shall not be
used in interpretation of this Guaranty. The words "herein," "hereof" and
"hereunder" and other words of similar import refer to this Guaranty as a whole
and not to any particular section, paragraph or other subdivision; and the word
"section" refers to the entire section and not to any particular subsection,
paragraph of other subdivision; and "Guaranty" and each of the Loan Documents
referred to herein mean the agreement as originally executed and as hereafter
modified, supplemented, extended, consolidated, or restated from time to time.

     Section 5.07 GOVERNING LAW; JURISDICTION. THIS AGREEMENT SHALL BE GOVERNED
BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF ILLINOIS, WITHOUT
REGARD TO CONFLICTS OF LAW PRINCIPLES. INDEMNITORS HEREBY IRREVOCABLY SUBMIT TO
THE JURISDICTION OF ANY COURT OF COMPETENT JURISDICTION LOCATED IN THE CITY OF
CHICAGO AND STATE OF ILLINOIS IN CONNECTION WITH ANY PROCEEDING ARISING OUT OF
OR RELATING TO THIS AGREEMENT.

     Section 5.08 Intentionally Omitted

     SECTION 5.09 WAIVER OF JURY TRIAL. GUARANTOR AND LENDER HERERBY AGREE NOT
TO ELECT A TRIAL BY JURY OF ANY ISSUE TRIABLE OF RIGHT BY JURY, AND WAIVE ANY
RIGHT TO TRIAL BY JURY FULLY TO THE EXTENT THAT ANY SUCH RIGHT SHALL NOW OR
HEREAFTER EXIST WITH REGARD TO THIS GUARANTY, THE NOTE, THE SECURITY INSTRUMENT
OR THE OTHER LOAN DOCUMENTS, OR ANY CLAIM, COUNTERCLAIM OR OTHER ACTION ARISING
IN CONNECTION THEREWITH. THIS WAIVER OF RIGHT TO TRIAL BY JURY IS GIVEN
KNOWINGLY AND VOLUNTARILY BY GUARANTOR AND LENDER, AND IS INTENDED TO ENCOMPASS
INDIVIDUALLY EACH INSTANCE AND EACH ISSUE AS TO WHICH RIGHT TO TRIAL BY JURY
WOULD OTHERWISE ACCRUE. GUARANTOR AND LENDER EACH ARE HEREBY AUTHORIZED TO FILE
A COPY OF THIS SECTION IN ANY PROCEEDING AS CONCLUSIVE EVIDENCE OF THIS WAIVER
BY EACH OTHER.

          [Remainder of page is blank; signatures appear on next page.]

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     IN WITNESS WHEREOF, the undersigned hereby signs, seals and delivers this
Guaranty.

                                        TRIPLE NET PROPERTIES, LLC, a
                                        Virginia limited liability company

                                        By: /s/ Scott Peters
                                            ------------------------------------
                                        Name: Scott Peters
                                        Its: Chief Financial Officer

                                        Address for Notice:

                                        1551 North Tustin Avenue, Ste. 200
                                        Santa Ana, California 92705
                                        Fax: 714-667-0611

                                        9<PAGE>

                                                                   EXHIBIT 10.19

                               GUARANTY OF PAYMENT

     THIS GUARANTY OF PAYMENT (this "GUARANTY") is dated as of August 18, 2006
by TRIPLE NET PROPERTIES, LLC, a Virginia limited liability company
("GUARANTOR"), for the benefit of LASALLE BANK NATIONAL ASSOCIATION, a national
banking association, its successors and assigns ("LENDER").

                                    RECITALS:

     A. Lender has agreed to loan the principal amount of Six Million Seven
Hundred Six Thousand and No/100 Dollars ($6,706,000.00) ("LOAN") to NNN
SOUTHPOINTE, LLC, a Delaware limited liability company ("SOUTHPOINTE BORROWER")
and NNN CRAWFORDSVILLE, LLC, a Delaware limited liability company
("CRAWFORDSVILLE BORROWER" and together with Southpointe Borrower, the
"BORROWER").

     B. As a condition precedent to Lender's extension of the Loan to Borrower
and in consideration therefor, Lender has required the execution and delivery of
(i) this Guaranty by Guarantor, (ii) that certain Promissory Note of even date
herewith (as amended from time to time, "NOTE") made by Borrower payable to
Lender to evidence the Loan, (iii) that certain Subordinate Mortgage, Security
Agreement and Fixture Filing of even date herewith (as amended from time to
time, "SOUTHPOINTE SECURITY INSTRUMENT") from Southpointe Borrower to Lender
encumbering the real property, improvements and personalty described therein
("SOUTHPOINTE PREMISES"), (iv) that certain Subordinate Mortgage, Security
Agreement and Fixture Filing to be dated as of the closing date of that certain
$4,264,000 senior loan made by Lender to Crawfordsville Borrower (as amended
from time to time, "CRAWFORDSVILLE SECURITY INSTRUMENT" and together with the
Southpointe Security Instrument, the "SECURITY INSTRUMENT") from Crawfordsville
Borrower to Lender encumbering the real property, improvements and personalty
described therein ("CRAWFORDSVILLE PREMISES" and together with the Southpointe
Premises, the "PREMISES"), (v) the Pledge Agreement from NNN SOUTH CRAWFORD
MEMBER, LLC in favor of Lender and (vi) the other Loan Documents (as defined in
the Security Instrument).

     C. Guarantor is an affiliate of Borrower and will directly benefit from
Lender's making the Loan to Borrower.

     NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which hereby are acknowledged, Guarantor hereby agrees as
follows:

     1. GUARANTY OF PAYMENT. Guarantor hereby unconditionally and irrevocably
guaranties to Lender, severally, the punctual payment and performance when due,
whether at stated maturity or by acceleration or otherwise, of the indebtedness
and other obligations of Borrower to Lender evidenced by the Note and any other
amounts that may become owing by Borrower under the Loan Documents (such
indebtedness, obligations and other amounts are hereinafter referred to as
"PAYMENT OBLIGATIONS"). This Guaranty is a present and continuing guaranty of
payment and not of collectibility, and Lender shall not be required to prosecute
collection, enforcement or other remedies against Borrower or any other
guarantor of the Payment Obligations, or to enforce or resort to any collateral
for the repayment of the Payment Obligations or other rights or remedies
pertaining thereto, before calling on Guarantor for payment. If for any reason
Borrower shall fail or be unable to pay, punctually and fully, any of

<PAGE>

the Payment Obligations, Guarantor shall pay such obligations to Lender in full
immediately upon demand. One or more successive actions may be brought against
Guarantor, as often as Lender deems advisable, until all of the Payment
Obligations are paid and performed in full. The Payment Obligations, together
with all other payment and performance obligations of Guarantor hereunder are
referred to herein as "BORROWER'S OBLIGATIONS".

     2. REPRESENTATIONS AND WARRANTIES. The following shall constitute
representations and warranties of Guarantor and Guarantor hereby acknowledges
that Lender intends to make the Loan in reliance thereon:

          a. Guarantor is not in default and no event has occurred that with the
     passage of time and/or the giving of notice will constitute a default under
     any agreement to which Guarantor is a party, the effect of which will
     impair performance by Guarantor of his, her or its obligations under this
     Guaranty. Neither the execution and delivery of this Guaranty nor
     compliance with the terms and provisions hereof will violate any applicable
     law, rule, regulation, judgment, decree or order, or will conflict with or
     result in any breach of any of the terms, covenants, conditions or
     provisions of any indenture, mortgage, deed of trust, instrument, document,
     agreement or contract of any kind that creates, represents, evidences or
     provides for any lien, charge or encumbrance upon any of the property or
     assets of Guarantor, or any other indenture, mortgage, deed of trust,
     instrument, document, agreement or contract of any kind to which Guarantor
     is a party or to which Guarantor or the property of Guarantor may be
     subject.

          b. Except as previously disclosed to Lender, there is not any
     litigation, arbitration, governmental or administrative proceedings,
     actions, examinations, claims or demands pending, or to Guarantor's
     knowledge, threatened that could adversely affect performance by Guarantor
     of his, her or its obligations under this Guaranty.

          c. Neither this Guaranty nor any statement or certification as to
     facts previously furnished or required herein to be furnished to Lender by
     Guarantor, contains any material inaccuracy or untruth in any
     representation, covenant or warranty or omits to state a fact material to
     this Guaranty.

     3. CONTINUING GUARANTY. Guarantor agrees that performance of Borrower's
Obligations by Guarantor shall be a primary obligation, shall not be subject to
any counterclaim, set-off, abatement, deferment or defense based upon any claim
that Guarantor may have against Lender, Borrower, any other guarantor of
Borrower's Obligations or any other person or entity, and shall remain in full
force and effect without regard to, and shall not be released, discharged or
affected in any way by, any circumstance or condition (whether or not Guarantor
shall have any knowledge thereof), including without limitation:

          a. any lack of validity or enforceability of any of the Loan
     Documents;

          b. any termination, amendment, modification or other change in any of
     the Loan Documents, including, without limitation, any modification of the
     interest rate(s) described therein;

                                        2

<PAGE>

          c. any furnishing, exchange, substitution or release of any collateral
     securing repayment of the Loan, or any failure to perfect any lien in such
     collateral;

          d. any failure, omission or delay on the part of Borrower, Guarantor,
     any other guarantor of Borrower's Obligations or Lender to conform or
     comply with any term of any of the Loan Documents or any failure of Lender
     to give notice of any Event of Default (as defined in the Note);

          e. any waiver, compromise, release, settlement or extension of time of
     payment or performance or observance of any of the obligations or
     agreements contained in any of the Loan Documents;

          f. any action or inaction by Lender under or in respect of any of the
     Loan Documents, any failure, lack of diligence, omission or delay on the
     part of Lender to perfect, enforce, assert or exercise any lien, security
     interest, right, power or remedy conferred on it in any of the Loan
     Documents, or any other action or inaction on the part of Lender;

          g. any voluntary or involuntary bankruptcy, insolvency,
     reorganization, arrangement, readjustment, assignment for the benefit of
     creditors, composition, receivership, liquidation, marshalling of assets
     and liabilities or similar events or proceedings with respect to Borrower,
     Guarantor, any other party to the Loan Documents or any other guarantor of
     Borrower's Obligations, as applicable, or any of their respective property
     or creditors, or any action taken by any trustee or receiver or by any
     court in any such proceeding;

          h. any merger or consolidation of Borrower into or with any entity, or
     any sale, lease or transfer of any of the assets of Borrower, Guarantor or
     any other guarantor of Borrower's Obligations to any other person or
     entity;

          i. any change in the ownership of Borrower or any change in the
     relationship between Borrower, Guarantor or any other guarantor of
     Borrower's Obligations, or any termination of any such relationship;

          j. any release or discharge by operation of law of Borrower,
     Guarantor, any other party to the Loan Documents or any other guarantor of
     Borrower's Obligations from any obligation or agreement contained in any of
     the Loan Documents; or

          k. any other occurrence, circumstance, happening or event, whether
     similar or dissimilar to the foregoing and whether foreseen or unforeseen,
     which otherwise might constitute a legal or equitable defense or discharge
     of the liabilities of a guarantor or surety or which otherwise might limit
     recourse against Borrower, any other party to the Loan Documents or
     Guarantor to the fullest extent permitted by law.

     4. WAIVERS. Guarantor expressly and unconditionally waives (i) notice of
any of the matters referred to in Section 3 above, (ii) all notices which may be
required by statute, rule of law or otherwise, now or hereafter in effect, to
preserve intact any rights against Guarantor, including, without limitation, any
demand, presentment and protest, proof of notice of non-

                                       3

<PAGE>

payment under any of the Loan Documents and notice of any Event of Default or
any failure on the part of Borrower, Guarantor, any other party to the Loan
Documents or any other guarantor of Borrower's Obligations to perform or comply
with any covenant, agreement, term or condition of any of the Loan Documents,
(iii) any right to the enforcement, assertion or exercise against Borrower, any
Guarantor, any other party to the Loan Documents or any other guarantor of
Borrower's Obligations of any right or remedy conferred under any of the Loan
Documents, (iv) any requirement of diligence on the part of any person or
entity, (v) to the fullest extent permitted by law and except as otherwise
expressly provided in this Guaranty or the other Loan Documents, any claims
based on allegations that Lender has failed to act in a commercially reasonable
manner or failed to exercise Lender's so-called obligation of good faith and
fair dealing, (vi) any requirement to exhaust any remedies or to mitigate the
damages resulting from any default under any of the Loan Documents, and (vii)
any notice of any sale, transfer or other disposition of any right, title or
interest of Lender under any of the Loan Documents.

     5. SUBORDINATION. Guarantor agrees that any and all present and future
debts and obligations of Borrower to Guarantor hereby are subordinated to the
claims of Lender and hereby are assigned by Guarantor to Lender as security for
Borrower's Obligations and Guarantor's obligations under this Guaranty;
provided, however, that so long as Borrower is not in default under any of the
Loan Documents, nothing contained in this PARAGRAPH 5 shall be deemed to
prohibit Borrower from making periodic distributions to Guarantor.

     6. SUBROGATION WAIVER. Until Borrower's Obligations are paid in full and
all periods under applicable bankruptcy law for the contest of any payment by
Guarantor or Borrower as a preferential or fraudulent payment have expired,
Guarantor knowingly, and with consultation of counsel, waives, relinquishes,
releases and abandons all rights and claims to indemnification, contribution,
reimbursement, subrogation and payment which Guarantor may now or hereafter have
by and from Borrower and the successors and assigns of Borrower, as the case may
be, for any payments made by Guarantor to Lender, including, without limitation,
any rights which might allow Borrower or Borrower's successors, a creditor of
Borrower, or a trustee in bankruptcy of Borrower to claim in bankruptcy or any
other similar proceedings that any payment made by Borrower or Borrower's
successors and assigns to Lender was on behalf of or for the benefit of
Guarantor and that such payment is recoverable by Borrower, a creditor or
trustee in bankruptcy of Borrower as a preferential payment, fraudulent
conveyance, payment of an insider or any other classification of payment which
may otherwise be recoverable from Lender.

     7. REINSTATEMENT. The obligations of Guarantor pursuant to this Guaranty
shall continue to be effective or automatically be reinstated, as the case may
be, if at any time payment of any of Borrower's Obligations or Guarantor's
obligations under this Guaranty is rescinded or otherwise must be restored or
returned by Lender upon the insolvency, bankruptcy, dissolution, liquidation or
reorganization of Guarantor or Borrower or otherwise, all as though such payment
had not been made.

     8. FINANCIAL STATEMENTS. Guarantor represents and warrants to Lender that
(a) the financial statements of Guarantor previously submitted to Lender are
true, complete and correct in all material respects, disclose all actual and
contingent liabilities, and fairly present the financial condition of Guarantor,
and do not contain any untrue statement of a material fact or

                                       4

<PAGE>

omit to state a fact material to the financial statements submitted or this
Guaranty and (b) no material adverse change has occurred in the financial
statements from the dates thereof until the date hereof. Guarantor shall furnish
to Lender annual financial statements for each calendar year no later than 60
days after the end of such years certified by Guarantor as true, complete and
correct and otherwise in a form substantially similar to the form of financial
statements previously submitted by Guarantor to Lender, unless otherwise
approved in writing by Lender. If audited financial statements are required by
Lender, Guarantor shall provide such audited financial statements to Lender
within the earlier to occur (i) 120 days after the end of Guarantor's fiscal
year or (ii) 20 days after Guarantor delivers its tax returns to the Internal
Revenue Service.

     9. TRANSFERS, SALES, ETC. Guarantor shall not sell, lease, transfer, convey
or assign (collectively, "TRANSFER") any of its assets, unless (a) if Guarantor
is an individual, such sale, lease, transfer, conveyance or assignment is (i) in
the ordinary course of business and investing activities, (ii) will not have a
material adverse effect on the financial condition of Guarantor or his ability
to perform his obligations hereunder, and (iii) Guarantor will receive an asset
of equivalent value as a result of such Transfer, or (b) if Guarantor is a
corporation, partnership or other entity, such sale, lease, transfer, conveyance
or assignment is (i) performed in the ordinary course of its business consistent
with past practices, (ii) will not have a material adverse effect on the
business or financial condition of Guarantor or its ability to perform its
obligations hereunder, and (iii) Guarantor will receive an asset of equivalent
value as a result of such Transfer. In addition, Guarantor shall neither become
a party to any merger or consolidation, nor, except in the ordinary course of
its business consistent with past practices, acquire all or substantially all of
the assets of, a controlling interest in the stock of, or a partnership or joint
venture interest in, any other entity.

     10. ENFORCEMENT COSTS. If: (a) this Guaranty, is placed in the hands of one
or more attorneys for collection or is collected through any legal proceeding;
(b) one or more attorneys is retained to represent Lender in any bankruptcy,
reorganization, receivership or other proceedings affecting creditors' rights
and involving a claim under this Guaranty, or (c) one or more attorneys is
retained to represent Lender in any other proceedings whatsoever in connection
with this Guaranty, then Guarantor shall pay to Lender upon demand all fees,
costs and expenses incurred by Lender in connection therewith, including,
without limitation, reasonable attorney's fees, court costs and filing fees (all
of which are referred to herein as "ENFORCEMENT COSTS"), in addition to all
other amounts due hereunder.

     11. SUCCESSORS AND ASSIGNS; JOINT AND SEVERAL LIABILITY. This Guaranty
shall inure to the benefit of Lender and its successors and assigns. This
Guaranty shall be binding on Guarantor and the heirs, legatees, successors and
assigns of Guarantor. If this Guaranty is executed by more than one person, it
shall be the joint and several undertaking of each of the undersigned.
Regardless of whether this Guaranty is executed by more than one person, it is
agreed that the undersigned's liability hereunder is several and independent of
any other guarantees or other obligations at any time in effect with respect to
Borrower's Obligations or any part thereof and that Guarantor's liability
hereunder may be enforced regardless of the existence, validity, enforcement or
non-enforcement of any such other guarantees or other obligations.

                                       5

<PAGE>

     12. NO WAIVER OF RIGHTS. No delay or failure on the part of Lender to
exercise any right, power or privilege under this Guaranty or any of the other
Loan Documents shall operate as a waiver thereof, and no single or partial
exercise of any right, power or privilege shall preclude any other or further
exercise thereof or the exercise of any other power or right, or be deemed to
establish a custom or course of dealing or performance between the parties
hereto. The rights and remedies herein provided are cumulative and not exclusive
of any rights or remedies provided by law. No notice to or demand on Guarantor
in any case shall entitle Guarantor to any other or further notice or demand in
the same, similar or other circumstance.

     13. MODIFICATION. The terms of this Guaranty may be waived, discharged, or
terminated only by an instrument in writing signed by the party against which
enforcement of the change, waiver, discharge or termination is sought. No
amendment, modification, waiver or other change of any of the terms of this
Guaranty shall be effective without the prior written consent of Lender.

     14. JOINDER. Any action to enforce this Guaranty may be brought against
Guarantor without any reimbursement or joinder of Borrower or any other
guarantor of Borrower's Obligations in such action.

     15. SEVERABILITY. If any provision of this Guaranty is deemed to be invalid
by reason of the operation of law, or by reason of the interpretation placed
thereon by any administrative agency or any court, Guarantor and Lender shall
negotiate an equitable adjustment in the provisions of the same in order to
effect, to the maximum extent permitted by law, the purpose of this Guaranty and
the validity and enforceability of the remaining provisions, or portions or
applications thereof, shall not be affected thereby and shall remain in full
force and effect.

     16. APPLICABLE LAW. This Guaranty is governed as to validity,
interpretation, effect and in all other respects by laws and decisions of the
State of Illinois.

     17. NOTICE. All notices, communications and waivers under this Guaranty
shall be in writing and shall be (i) delivered in person or (ii) mailed, postage
prepaid, either by registered or certified mail, return receipt requested, or
(iii) by overnight express carrier, addressed in each case as follows:

     To Lender:    LaSalle Bank National Association
                   135 South LaSalle Street
                   Suite 3505
                   Chicago, Illinois 60603
                   Attn: Real Estate Mezzanine Finance Department

     To Guarantor: Triple Net Properties, LLC
                   1551 N. Tustin Avenue
                   Suite 200
                   Santa Ana, California 92705
                   Attn: Anthony Thompson & Theresa Hutton

                                       6

<PAGE>

or to any other address as to any of the parties hereto, as such party shall
designate in a written notice to the other party hereto. All notices sent
pursuant to the terms of this Section 17 shall be deemed received (i) if
personally delivered, then on the date of delivery, (ii) if sent by overnight,
express carrier, then on the next federal banking day immediately following the
day sent, or (iii) if sent by registered or certified mail, then on the earlier
of the third federal banking day following the day sent or when actually
received.

     18. INTENTIONALLY OMITTED.

     19. CONSENT TO JURISDICTION. TO INDUCE LENDER TO ACCEPT THIS GUARANTY, EACH
GUARANTOR IRREVOCABLY AGREES THAT, SUBJECT TO LENDER'S SOLE AND ABSOLUTE
ELECTION, ALL ACTIONS OR PROCEEDINGS IN ANY WAY ARISING OUT OF OR RELATED TO
THIS GUARANTY WILL BE LITIGATED IN COURTS HAVING SITUS IN CHICAGO, ILLINOIS.
EACH GUARANTOR HEREBY CONSENTS AND SUBMITS TO THE JURISDICTION OF ANY COURT
LOCATED WITHIN CHICAGO, ILLINOIS, WAIVES PERSONAL SERVICE OF PROCESS AND AGREES
THAT ALL SUCH SERVICE OF PROCESS MAY BE MADE BY REGISTERED MAIL DIRECTED TO
GUARANTOR AT THE ADDRESS STATED HEREIN AND SERVICE SO MADE WILL BE DEEMED TO BE
COMPLETED UPON ACTUAL RECEIPT.

     20. WAIVER OF JURY TRIAL. GUARANTOR AND LENDER (BY ACCEPTANCE HEREOF),
HAVING BEEN REPRESENTED BY COUNSEL, EACH KNOWINGLY AND VOLUNTARILY WAIVES ANY
RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING TO ENFORCE OR DEFEND ANY
RIGHTS UNDER THIS GUARANTY OR UNDER ANY AMENDMENT, INSTRUMENT, DOCUMENT OR
AGREEMENT DELIVERED OR WHICH MAY IN THE FUTURE BE DELIVERED IN CONNECTION
HEREWITH AND AGREES THAT ANY SUCH ACTION OR PROCEEDING WILL BE TRIED BEFORE A
COURT AND NOT BEFORE A JURY. GUARANTOR AGREES THAT IT WILL NOT ASSERT ANY CLAIM
AGAINST LENDER ON ANY THEORY OF LIABILITY FOR SPECIAL, INDIRECT, CONSEQUENTIAL,
INCIDENTAL OR PUNITIVE DAMAGES.

     21. NET WORTH MAINTENANCE REQUIREMENTS. Guarantor hereby represents that it
has a net worth of at least $10,000,000.00 as of the date hereof. Guarantor
covenants and agrees that until such time as the Note is paid in full and all
obligations of Borrower and Guarantor under the Loan Documents are satisfied (a)
that Guarantor's net worth shall not fall below $10,000,000.00 for any sixty
(60) consecutive day period, and (b) at no time Guarantor's net worth fall below
$5,000,000.00. A breach of this provision or any of the other terms and
conditions set forth in this Guaranty shall be an "Event of Default" under the
Loan Documents.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK -
                             SIGNATURE PAGE FOLLOWS]

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     IN WITNESS WHEREOF, Guarantor has executed this Guaranty as of the date
first above written.

                                        GUARANTOR:

                                        TRIPLE NET PROPERTIES, LLC, a Virginia
                                        limited liability company

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

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