Document:

EXHIBIT 10.26

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                                 PROMISSORY NOTE

$128,125                                                 As of November 30, 1998
                                                           Hartford, Connecticut

          FOR VALUE RECEIVED, the undersigned (the "Borrower"),  promises to pay
to the order of GROVE PROPERTY  TRUST, a Maryland real estate  investment  trust
having an  address  at 598  Asylum  Avenue,  Hartford,  Connecticut  06105  (the
"Lender"),  the principal sum of One Hundred  Twenty Eight  Thousand One Hundred
and Twenty Five and 00/100 Dollars ($128,125.00),  together with interest on the
unpaid  principal  balance  thereof from the date hereof until fully and finally
paid, together with all taxes levied or assessed on this Note. Interest shall be
payable  quarterly on the date of payment of the regular  quarterly  dividend on
the  Common  Shares of the Lender at the per annum rate equal to LIBOR as may be
in effect from time to time, plus 1.6% (the "Interest Rate"),  the Interest Rate
being  subject to  adjustment  upon the  occurrence of an "Event of Default," as
such term is defined  below.  All interest on this Note shall be computed on the
basis of the actual number of days elapsed over a 360 day year.

          The principal  balance shall become due and payable on the fifth (5th)
anniversary of the date hereof. At all times any unpaid interest may be added to
principal and additional interest may be charged thereon.

          Any dividends  paid on the Common Shares of the Lender  purchased with
the proceeds of this Note which the  Borrower is otherwise  entitled to shall be
applied  first to the  payment of  interest  hereon  and then to the  payment of
principal hereof.

          The principal  hereof and the interest payable hereon shall be payable
in lawful money of the United States of America, in immediately available funds.
If the due date of any  payment  required to be made  hereunder  shall fall on a
Saturday,  Sunday or legal holiday, such payment shall be due and payable on the
next-succeeding non-Saturday, non-Sunday and non-holiday.

          The Borrower agrees that all sums due under this Note shall be payable
together with the reasonable fees,  costs and  disbursements of the attorneys of
the Lender in connection with any action or proceeding instituted to collect any
sum due under  this Note,  to realize  upon any  security  for the  indebtedness
evidenced  by  this  Note  and/or  otherwise  to  enforce  the  payment  of  the
indebtedness evidenced by this Note, including appeal. Any sums becoming payable
in accordance with this paragraph may be demanded immediately by the Lender (and
shall be payable on demand)  or may be added to the  indebtedness  evidenced  by
this Note,  and, if so added,  shall be due with the  indebtedness  evidenced by
this Note.

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          All payments  hereunder  shall be applied by the Lender,  first to the
payment of any fees, expenses or other charges then due and unpaid in such order
as the Lender  shall  determine,  second to the  payment of  interest  then due,
computed as aforesaid,  and the balance,  if any, to be applied to the reduction
of the principal sum then remaining  unpaid,  with the last installment to be in
the amount of the then remaining  unpaid balance of the principal  indebtedness,
together with all interest, computed as aforesaid.

          In the event that any payment of principal or interest is not received
by the  Lender  when due,  payment  shall be  considered  late and the  Borrower
promises  to pay to the  Lender  a "late  charge"  computed  at the rate of five
percent (5%) of the amount of said late payment,  which late charge shall become
due on the day after said due date.  The Borrower and the Lender agree that such
late charge is a provision  for  liquidated  damages and  represents  a fair and
reasonable  estimate  of the damages the Lender will incur by reason of the late
payment.  Acceptance  of any late charge  shall not  constitute  a waiver of any
default or an  election  of  remedies,  and shall not  prevent  the Lender  from
exercising any rights or remedies available to the Lender.

          The Borrower  shall have the  privilege of prepaying  the whole or any
part of this indebtedness,  at any time while this Note remains unpaid,  without
penalty or premium.

          The  occurrence  of any of the  following  events shall  constitute an
event of default under this Note ("Event of Default"):  (i) the  non-receipt  by
the Lender of any payment when due and payable; (ii) nonpayment,  nonperformance
or nonobservance  beyond any applicable notice or cure period by the Borrower or
any other party liable with respect to, or otherwise  granting support for, this
Note,  whether by guaranty,  subordination,  grant of security or otherwise (any
such other party being a "Third  Party") of any of the other  terms,  covenants,
agreements  and  conditions  of this  Note,  the  Agreement  Re  Application  of
Dividends  dated  as of the  date  hereof  (the  "Agreement  Re  Application  of
Dividends")  or any other  document,  agreement or  instrument  now or hereafter
executed in  connection  herewith  (the  Agreement Re  Application  of Dividends
together  with  such  other  documents,  agreements  and  instruments  being the
"Instruments");  (iii) a default  beyond any  applicable  notice or cure  period
under any  document,  agreement or  instrument  now or hereafter  evidencing  or
securing any other obligation or indebtedness of the Borrower or any Third Party
to the Lender now existing or hereafter arising;  (iv) breach of, or the proving
false or misleading in any material respect,  of any  representation or warranty
now or hereafter  made to the Lender by, on behalf of, or for the benefit of the
Borrower or any Third Party,  or contained in: (a) this Note;  (b) the Agreement
Re  Application  of  Dividends;  or  (c)  any  statement,  financial  statement,
certificate or other document,  certificate,  agreement or instrument furnished,
signed or executed in  connection  herewith by, on behalf of, or for the benefit
of the Borrower or any Third Party; or (v) the Borrower's ceasing for any reason
being an employee of the Lender or any subsidiary of the Lender.

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          Upon the  occurrence  of any Event of Default which has not been cured
by the Borrower,  interest on the unpaid  principal  balance of the indebtedness
evidenced  by this Note shall  thereupon  and  thereafter  accrue and be due and
payable  at a rate  per  annum  equal  to two  percent  (2.0%)  above  the  then
applicable Interest Rate but in no event greater than the maximum rate allowable
by law (the  "Default  Rate").  Interest  at the  Default  Rate shall be due and
payable on demand.

          Upon the occurrence of any Event of Default,  this Note, at the option
of the Lender,  shall become  immediately due and payable  without  presentment,
demand,  protest or notice of any kind, all of which are hereby expressly waived
by the Borrower and by any Third Party.  The Lender's  failure to exercise  such
option  shall not  constitute  a waiver of the right to exercise it at any other
time.

          No remedy or right  herein  conferred  upon or  reserved to the Lender
under this Note shall be construed as an election (or an  irrevocable  election)
of remedies or as negating,  limiting or otherwise  affecting the  generality of
any other rights or remedies  available to the Lender upon the occurrence of any
Event of Default.

          No renewal or  extension  granted or  forbearance,  or any  indulgence
shown to, or any  release of, or any  dealings  between the Lender and any other
person,  corporation  or entity  now or  hereafter  interested  herein or in any
property  pledged  in support  of this  Note,  whether  as owner,  encumbrancer,
grantor  or  otherwise,  shall  discharge,  extend  or in  any  way  affect  the
obligations of the Borrower.

          The  Borrower  hereby (i)  waives (a)  presentment  for  payment,  (b)
protest, (c) demand, (d) notice of protest, demand, dishonor and nonpayment, (e)
any other notice or demand of a like nature,  (f) diligence in  collection,  and
(g) notice of any renewals,  modifications  or extensions of this Note and/or of
the  Instrument  and (ii)  agrees  that this Note  and/or any  payment due or to
become due in  accordance  with the terms of this Note may be altered,  amended,
waived, renewed,  extended or modified (or any combination of one or more of the
foregoing),  from time to time,  and any  security for the  indebtedness  may be
wholly or partially  released from time to time,  without in any way altering or
diminishing the liability of the Borrower.

          Regardless of any provision  contained in this Note or other documents
entered into in connection with this Note, the Lender shall never be entitled to
receive,  collect or apply as interest on this Note, any amount in excess of the
maximum  lawful  rate,  and in the event the Lender ever  receives,  collects or
applies as  interest  any such  excess,  such amount  which  would be  excessive
interest  shall be deemed a partial  prepayment  of principal  and treated under
this Note as such;  and,  if the  principal  of this  Note is paid in full,  any
remaining excess shall forthwith be paid to the Borrower. In determining whether
or not the interest paid or payable under any specific  contingency  exceeds the
maximum  lawful rate,  the Borrower and the Lender shall,  to the maximum extent
permitted under

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applicable law, (i) characterize any non-principal payment as an expense, fee or
premium  rather than as interest,  (ii) exclude  voluntary  prepayments  and the
effects  thereof,  and (iii) amortize,  prorate,  allocate and spread,  in equal
parts, the total amount of interest  throughout the entire  contemplated term of
this Note so that the  interest  rate is  uniform  throughout  the  entire  term
thereof;  provided  that if this Note is paid and performed in full prior to the
end of the full contemplated term thereof,  and if the interest received for the
actual period of existence  thereof  exceeds the maximum lawful rate, the Lender
shall refund the Borrower the amount of such excess or credit the amount of such
excess against the principal of this Note, and, in such event,  the Lender shall
not be  subject  to any  penalties  provided  by the laws for  contracting  for,
charging or receiving interest in excess of the maximum lawful rate.

          This Note may not be  modified  or  terminated  orally but may only be
modified by a written instrument signed by the party to be charged.

          Whenever  used in this Note and the context so requires,  the singular
number  shall be extended to include the plural and the use of any gender  shall
be extended to include all genders.

          The terms and  provisions  of this Note shall  inure to the benefit of
and bind the Borrower and the Lender and their respective legal representatives,
successors and assigns.

          This Note shall be governed by, and construed in accordance  with, the
laws of the  State  of  Connecticut.  The  parties  consent  in  advance  to the
jurisdiction  of  the  federal  and  state  courts  situated  in  the  State  of
Connecticut in any dispute arising out of or in connection with this Note.

          THE BORROWER  WAIVES  TRIAL BY JURY IN ANY COURT IN ANY SUIT,  ACTION,
PROCEEDING  OR ANY MATTER  ARISING IN  CONNECTION  WITH OR IN ANY WAY RELATED TO
THIS NOTE OR THE  TRANSACTION  OF WHICH  THIS NOTE IS A PART OR THE  DEFENSE  OR
ENFORCEMENT OF ANY OF THE LENDER'S RIGHTS AND REMEDIES IN CONNECTION  THEREWITH.
THE  BORROWER  ACKNOWLEDGES  THAT IT MAKE THIS  WAIVER  KNOWINGLY,  VOLUNTARILY,
WITHOUT DURESS AND ONLY AFTER EXTENSIVE  CONSIDERATION  OF THE  RAMIFICATIONS OF
THIS WAIVER WITH ITS ATTORNEYS.

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          IN WITNESS WHEREOF, the Borrower has caused this Promissory Note to be
executed on the day, month and year first above written.

                                         /s/ MUNAWAR CHEEMA
                                         ---------------------------------
                                         Munawar CheemaEXHIBIT 10.27

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                              AMENDED AND RESTATED

                      AGREEMENT RE APPLICATION OF DIVIDENDS

                             As of November 30, 1998

Grove Property Trust
598 Asylum Avenue
Hartford, Connecticut 06105

Dear Sirs:

          The  undersigned  acknowledges  that Grove Property  Trust, a Maryland
real estate  investment trust (the  "Company"),  has lent certain amounts to the
undersigned  pursuant  to a  Promissory  Note dated as of the dated  hereof (the
"Note") for the purpose of  facilitating  the purchase by the undersigned of the
Company's Common Shares of Beneficial  Interest,  par value $0.01 per share (the
shares so purchased by the undersigned, the "Shares").

          In  consideration of the foregoing,  the undersigned  hereby covenants
and agrees with the Company as follows:

               1. The undersigned  shall perform in all respects his obligations
under the Note in accordance with the terms thereof.

               2.  Until all  amounts  owed to the  Company  by the  undersigned
pursuant  to the Note have been repaid or  otherwise  satisfied,  all  dividends
which the  undersigned  is entitled to receive in respect of the Shares shall be
held by the  Company.  Such  amounts  shall  be  held  for  the  account  of the
undersigned to be applied in accordance with the terms hereof.

               3.  Dividends held by the Company shall be applied to the payment
of  interest  under the Note,  such  payment to be made to the  Company  for the
account of the  undersigned  on the  interest  payment date next  following  the
payment of the dividend.

               4. Any  amounts  held by the  Company  following  the  payment of
interest  in  accordance  with  the  preceding  paragraph  shall  be paid to the
undersigned  as promptly as practicable  following  calculation of the amount of
interest to be paid pursuant to the preceding paragraph.

               5. Upon  execution  and  delivery  hereof by the  Company and the
undersigned,  the Agreement re Application of Dividends dated as of November 30,
1998 between the Company and the undersigned (the "Original Agreement") shall be
superseded in its entirety by this Amended and Restated Agreement re Application
of Dividends.

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          If the  foregoing  correctly  sets  forth the  agreement  between  the
undersigned  and the Company with respect to the subject matter  hereof,  please
sign the  enclosed  copy of this  letter  whereupon  it shall  become a  binding
agreement and the Original Agreement shall be of no further force and effect.

                                              Very truly yours,

                                              /s/ MUNAWAR CHEEMA

                                              Munawar Cheema

ACCEPTED AND AGREED TO:

GROVE PROPERTY TRUST

By:      /s/ JOSEPH R. LABROSSE
    --------------------------------
         Name:    Joseph R. LaBrosse
         Title:   Chief Financial Officer

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