Document:

Exhibit 10.20

 

EXECUTION VERSION

 

PROMISSORY NOTE

 

	
$44,385,000.00
    	
 
    	
December 27, 2012
    

 

FOR VALUE RECEIVED, INLAND DIVERSIFIED LAS VEGAS CENTENNIAL GATEWAY, L.L.C., (“Centennial Borrower”) and INLAND DIVERSIFIED HENDERSON EASTGATE, L.L.C., (“Eastgate Borrower”) each a Delaware limited liability company,  having an address at 2901 Butterfield Road, Oak Brook, Illinois 60523 (Centennial Borrower and Eastgate Borrower each individually a “Maker”, and collectively “Makers”), hereby promise to pay to the order of THE ROYAL BANK OF SCOTLAND PLC at c/o RBS Financial Products Inc., 600 Washington Boulevard, Stamford, Connecticut 06901 (together with its successors and assigns “Payee”) or at such place as the holder hereof may from time to time designate in writing, the principal sum of FORTY-FOUR MILLION THREE HUNDRED EIGHTY-FIVE THOUSAND AND NO/100 DOLLARS ($44,385,000.00) (the “Principal”), in lawful money of the United States of America, with interest on the unpaid principal balance from time to time outstanding at the Interest Rate, in installments as follows:

 

A.            A payment of $23,493.23 on the date hereof, representing interest from the date of funding through December 31, 2012;

 

B.            On February 1, 2013 (which shall be the first Payment Date hereunder) and each Payment Date thereafter, Makers shall pay interest on the unpaid Principal accrued at the Interest Rate during the immediately preceding Interest Period (the “Monthly Interest Payment Amount”); and

 

C.            The balance of the principal sum of this Note together with all accrued and unpaid interest thereon shall be due and payable on the Maturity Date.  If the Loan is repaid on any date other than on a Payment Date (whether prior to or after the Stated Maturity Date), Makers shall also pay interest that would have accrued on such repaid Principal to but not including the next Payment Date.

 

1.             Definitions.  Capitalized terms used but not otherwise defined herein shall have the meanings given in that certain Loan Agreement dated the date hereof between Makers and Payee (as the same may be amended, modified, supplemented, replaced or otherwise modified from time to time, the “Loan Agreement”).  The following terms have the meanings set forth below:

 

Business Day:  any day other than a Saturday, Sunday or any day on which commercial banks in New York, New York are authorized or required to close.

 

Default Rate:  a rate per annum equal to the lesser of (i) the maximum rate permitted by applicable law, or (ii) 5% above the Interest Rate, compounded monthly.

 

 

Interest Period:  (i) the period from the date hereof through the first day thereafter that is the last day of the current calendar month and (ii) each period thereafter from the first day of each calendar month through the last day of such calendar month; except that the Interest Period, if any, that would otherwise commence before and end after the Maturity Date shall end on the Maturity Date.  Notwithstanding the foregoing, if Payee exercises its right to change the Payment Date to a New Payment Date in accordance with Section 2.2.4 of the Loan Agreement, then from and after such election, each Interest Period shall be the period from the New Payment Date in each calendar month through the day in the next succeeding calendar month immediately preceding the New Payment Date in such calendar month.

 

Interest Rate:  a rate of interest equal to 3.811% per annum (or, when applicable pursuant to this Note or any other Loan Document, the Default Rate).

 

Maturity Date:  the date on which the final payment of principal of this Note (or the Defeased Note, if applicable) becomes due and payable as provided herein or in the Loan Agreement, whether at the Stated Maturity Date, by declaration of acceleration, or otherwise.

 

Payment Date:  the 1st day of each calendar month or, upon Payee’s exercise of its right to change the Payment Date in accordance with Section 2.2.4 of the Loan Agreement, the New Payment Date (in either case, if such day is not a Business Day, the Payment Date shall be the first Business Day thereafter).  The first Payment Date hereunder shall be February 1, 2013.

 

Stated Maturity Date: January 1, 2023, as such date may be changed in accordance with Section 2.2.4 of the Loan Agreement.

 

Yield Maintenance Premium: an amount equal to the greater of (i) one percent (1%) of any applicable prepayment, or (b) the present value as of the Prepayment Date of the Calculated Payments determined by discounting such payments at the Discount Rate.

 

2.             Payments and Computations.  Interest on the unpaid Principal shall be computed on the basis of the actual number of days elapsed over a 360-day year.  All amounts due under this Note shall be payable without setoff, counterclaim or any other deduction whatsoever and are payable without relief from valuation and appraisement laws and with all costs and charges incurred in the collection or enforcement hereof, including, attorneys’ fees and court costs.

 

3.             Loan Documents.  This Note is evidence of that certain loan made by Payee to Makers contemporaneously herewith and is executed pursuant to the terms and conditions of the Loan Agreement.  This Note is secured by and entitled to the benefits of, among other things, the Mortgage and the other Loan Documents.  Reference is made to the Loan Documents for a description of the nature and extent of the security afforded thereby, the rights of the holder hereof in respect of such security, the terms and conditions upon which this Note is secured and the rights and duties of the holder of this Note.  No reference herein to and no provision of any other Loan Document shall alter or impair the obligation of any Maker, which is absolute and unconditional (except for Section 10.1 of the Loan Agreement), to pay the principal of and interest on this Note at the time and place and at the rates and in the monies and funds described

 

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herein.  All of the agreements, conditions, covenants, provisions and stipulations contained in the Loan Documents to be kept and performed by any Maker are by this reference hereby made part of this Note to the same extent and with the same force and effect as if they were fully set forth in this Note, and each Maker covenants and agrees to keep and perform the same, or cause the same to be kept and performed, in accordance with their terms.

 

4.             Loan Acceleration; Prepayment.   The Debt, shall without notice become immediately due and payable at the option of Payee if any payment required in this Note is not paid on the date on which it is due or upon the happening of any other Event of Default.  Neither Maker shall have any right to prepay or defease all or any portion of the Principal except in accordance with the Loan Agreement.  If prior to the Permitted Prepayment Date (i) Makers shall (notwithstanding such prohibition of prepayment) tender, and Payee shall, in its sole discretion, elect to accept, payment of the Debt, or (ii) the Debt is accelerated by reason of an Event of Default, then the Debt shall include, and Payee shall be entitled to receive, in addition to the outstanding principal and accrued interest and other sums due under the Loan Documents, an amount equal to the Yield Maintenance Premium.  If any such prepayment is not made on a Payment Date, Makers shall also pay interest that would have accrued on such prepaid Principal to but not including the next Payment Date.  The principal balance of this Note is subject to mandatory prepayment, without premium or penalty, in certain instances of Insured Casualty or Condemnation, as more particularly set forth in Sections 2.3.2 and 7.4.2 of the Loan Agreement.  All proceeds of any repayment, including permitted prepayments, of Principal shall be applied in accordance with Section 2.3.1 of the Loan Agreement.  During the continuance of an Event of Default, all proceeds of repayment, including any payment or recovery on the Property (whether through foreclosure, deed-in-lieu of foreclosure, or otherwise) shall, unless otherwise provided in the Loan Documents, be applied in such order and in such manner as Payee shall elect in Payee’s discretion.

 

5.             Default Rate.  After the occurrence and during the continuance of an Event of Default, the entire unpaid Debt shall bear interest at the Default Rate, and shall be payable upon demand from time to time, to the extent permitted by applicable law.

 

6.             Late Payment Charge.  If any Principal, interest or other sum due under any Loan Document (other than the payment of Principal on the Stated Maturity Date) is not paid by Makers on the date on which it is due, Makers shall pay to Payee upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the maximum amount permitted by applicable law (the “Late Payment Charge”), in order to defray the expense incurred by Payee in handling and processing such delinquent payment and to compensate Payee for the loss of the use of such delinquent payment.  Such amount shall be secured by the Loan Documents.

 

7.             Amendments.  This Note may not be modified, amended, waived, extended, changed, discharged or terminated orally or by any act or failure to act on the part of any Maker or Payee, but only by an agreement in writing signed by the party against whom enforcement of any modification, amendment, waiver, extension, change, discharge or termination is sought.  Whenever used, the singular number shall include the plural, the plural the singular, and the words “Payee”,  “Maker” and “Makers” shall include their respective successors, assigns, heirs, executors and administrators.  If Makers consists of more than one person or party, the obligations and liabilities of each such person or party shall be joint and several.

 

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8.             Waiver.  Each Maker and all others who may become liable for the payment of all or any part of the Debt do hereby severally waive presentment and demand for payment, notice of dishonor, protest, notice of protest, notice of nonpayment, notice of intent to accelerate the maturity hereof and of acceleration.  No release of any security for the Debt or any person liable for payment of the Debt, no extension of time for payment of this Note or any installment hereof, and no alteration, amendment or waiver of any provision of the Loan Documents made by agreement between Payee and any other person or party shall release, modify, amend, waive, extend, change, discharge, terminate or affect the liability of any Maker, and any other person or party who may become liable under the Loan Documents, for the payment of all or any part of the Debt.  No notice to or demand on any Maker shall be deemed to be a waiver of the obligation of any Maker or of the right of Payee to take further action without further notice or demand as provided for in this Note, the Loan Agreement or the other Loan Documents.  If any Maker is a partnership or limited liability company, the agreements herein contained shall remain in force and be applicable, notwithstanding any changes in the individuals comprising the partnership or limited liability company, and the term “Maker,” as used herein, shall include any alternate or successor partnership or limited liability company, but any predecessor partnership or limited liability company and their partners or members shall not thereby be released from any liability.  If any Maker is a corporation, the agreements contained herein shall remain in full force and be applicable notwithstanding any changes in the shareholders comprising, or the officers and directors relating to, the corporation, and the term “Maker,” as used herein, shall include any alternative or successor corporation, but any predecessor corporation shall not be relieved of liability hereunder.  (Nothing in the foregoing sentence shall be construed as a consent to, or a waiver of, any prohibition or restriction on transfers of interests in such partnership, limited liability company or corporation, which may be set forth in the Loan Agreement, the Mortgage or any other Loan Document.)

 

9.             Exculpation.  It is expressly agreed that recourse against any Maker for failure to perform and observe its obligations contained in this Note shall be limited as and to the extent provided in Section 10.1 of the Loan Agreement.

 

10.          Notices.  All notices or other communications required or permitted to be given pursuant hereto shall be given in the manner specified in the Loan Agreement directed to the parties at their respective addresses as provided therein.

 

11.          Joint and Several.  Each Person constituting Maker or Makers hereunder shall have joint and several liability for the obligations of Makers hereunder.

 

12.          No Conflicts.  In the event of any conflict between the provisions of this Note and any provision of the Loan Agreement, then the provisions of the Loan Agreement shall control.

 

13.          Governing Law.

 

A.    THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF ILLINOIS (WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS) AND THE APPLICABLE LAWS OF THE UNITED STATES OF AMERICA.  TO THE FULLEST EXTENT PERMITTED BY LAW, EACH MAKER HEREBY

 

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UNCONDITIONALLY AND IRREVOCABLY WAIVES ANY CLAIM TO ASSERT THAT THE LAW OF ANY OTHER JURISDICTION GOVERNS THIS NOTE.

 

B.    ANY LEGAL SUIT, ACTION OR PROCEEDING AGAINST PAYEE OR ANY MAKER ARISING OUT OF OR RELATING TO THIS NOTE SHALL BE INSTITUTED IN ANY FEDERAL OR STATE COURT IN COOK COUNTY, ILLINOIS  AND EACH MAKER WAIVES ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING, AND EACH MAKER HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF ANY SUCH COURT IN ANY SUIT, ACTION OR PROCEEDING.  EACH MAKER DOES HEREBY ACKNOWLEDGE THAT DELIVERY OF SERVICE OF PROCESS TO THE ADDRESS PROVIDED IN THE PREAMBLE HEREOF AND WRITTEN NOTICE OF SAID SERVICE OF ANY MAKER MAILED OR DELIVERED TO ANY MAKER IN THE MANNER PROVIDED HEREIN SHALL BE DEEMED IN EVERY RESPECT EFFECTIVE SERVICE OF PROCESS UPON SUCH MAKER (UNLESS LOCAL LAW REQUIRES ANOTHER METHOD OF SERVICE), IN ANY SUCH SUIT, ACTION OR PROCEEDING IN THE STATE OF ILLINOIS.  EACH MAKER (i) SHALL GIVE PROMPT NOTICE TO PAYEE OF ANY CHANGED ADDRESS OF ITS ADDRESS HEREUNDER, (ii) MAY AT ANY TIME AND FROM TIME TO TIME DESIGNATE AN AUTHORIZED AGENT WITH AN OFFICE IN COOK COUNTY, ILLINOIS (WHICH OFFICE SHALL BE DESIGNATED AS THE ADDRESS FOR SERVICE OF PROCESS), AND (iii) SHALL PROMPTLY DESIGNATE SUCH A SUBSTITUTE IF ITS AUTHORIZED AGENT CEASES TO HAVE AN OFFICE IN COOK COUNTY, ILLINOIS OR IS DISSOLVED WITHOUT LEAVING A SUCCESSOR.  NOTWITHSTANDING THE FOREGOING, AGENT SHALL HAVE THE RIGHT TO INSTITUTE ANY LEGAL SUIT, ACTION OR PROCEEDING FOR THE ENFORCEMENT OR FORECLOSURE OF ANY LIEN ON ANY COLLATERAL FOR THE LOAN IN ANY FEDERAL OR STATE COURT IN ANY JURISDICTION(S) THAT AGENT MAY ELECT IN ITS SOLE AND ABSOLUTE DISCRETION, AND EACH MAKER WAIVES ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING, AND EACH MAKER HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF ANY SUCH COURT IN ANY SUIT, ACTION OR PROCEEDING.

 

[Remainder of Page Intentionally Left Blank; Signature Page Follows]

 

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IN WITNESS WHEREOF, Maker has executed this Promissory Note as of the day and year first written.

 

	
 
    	
MAKERS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Inland   Diversified Las Vegas Centennial Gateway, 
   L.L.C., a Delaware limited liability company
    
	
 
    	
 
    
	
 
    	
By:
    	
Inland   Territory, L.L.C.,
    
	
 
    	
 
    	
a   Delaware limited liability company, its 
   sole member
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Inland   Territory Member, L.L.C.,
    
	
 
    	
 
    	
a   Delaware limited liability company, its 
   managing member
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Inland   Diversified Real Estate Trust, Inc.,
    
	
 
    	
 
    	
a   Maryland corporation, its sole member
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Mary J. Pechous
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Inland   Diversified Henderson Eastgate, L.L.C.,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Inland   Territory, L.L.C.,
    
	
 
    	
 
    	
a   Delaware limited liability company, its 
   sole member
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Inland   Territory Member, L.L.C.,
    
	
 
    	
 
    	
a   Delaware limited liability company, its 
   managing member
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Inland   Diversified Real Estate Trust, Inc.,
    
	
 
    	
 
    	
a   Maryland corporation, its sole member
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Mary J. Pechous
    
	
 
    	
 
    	
 
    

 

6Exhibit 10.21

 

EXECUTION VERSION

 

CONTRIBUTION AGREEMENT

 

THIS CONTRIBUTION AGREEMENT (this “Agreement”) is entered into as of the 27th day of December, 2012 by and among INLAND DIVERSIFIED LAS VEGAS CENTENNIAL GATEWAY, L.L.C., a Delaware limited liability company (“Borrower A”), INLAND DIVERSIFIED HENDERSON EASTGATE, L.L.C., a Delaware limited liability company (“Borrower B”), (each of Borrower A and Borrower B, each having an address at 2901 Butterfield Road, Oak Brook, Illinois 60523, is individually referred to herein as a “Co-Obligor”; Borrower A and Borrower B are collectively referred to herein as the “Co-Obligors”; references herein to the “Co-Obligors,” unless otherwise specifically stated, shall also mean and refer to each and every one of Borrower A and Borrower B, jointly and severally), and THE ROYAL BANK OF SCOTLAND PLC, (“Lender”), having an address at 600 Washington Boulevard, Stamford, Connecticut 06901.

 

W I T N E S S E T H:

 

WHEREAS, concurrently herewith, Lender has made a loan to the Co-Obligors the aggregate initial principal sum of FORTY-FOUR MILLION THREE HUNDRED EIGHTY-FIVE THOUSAND AND NO/100 DOLLARS ($44,385,000.00) (the “Loan”) in accordance with that certain Loan Agreement of even date herewith between the Co-Obligors and Lender (the “Loan Agreement”) (the Loan and the other obligations and liabilities of the Co-Obligors under the Loan Agreement and the other Loan Documents (as defined in the Loan Agreement) are herein collectively referred to herein as the “Indebtedness”);

 

WHEREAS, each Co-Obligor is jointly and severally liable for the payment of all the Indebtedness;

 

WHEREAS, each Co-Obligor will receive substantial benefits by reason of the Loan; and

 

WHEREAS, the Co-Obligors are desirous of providing for certain rights of contribution and subrogation as more particularly provided herein.

 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Co-Obligors agree as follows:

 

1.         As used herein, the “Allocable Amount” of any Co-Obligor, as of any date of determination, shall be determined to be an amount equal to the maximum amount of the Indebtedness which could then be claimed against such Co-Obligor without rendering such claim voidable or avoidable under Section 548 of Chapter 11 of the United States Federal Bankruptcy Code (11 U.S.C. Sec. 101 et seq.) or under any applicable state Uniform Fraudulent Transfer Act, Uniform Fraudulent Conveyance Act or similar statute or common law.

 

2.         To the extent that a payment is made on the Indebtedness by a Co-Obligor (a “Co-Obligor Payment”), which, taking into account all other Co-Obligor Payments then previously or

 

 

concurrently made by or attributable to any other Co-Obligor, exceeds the amount of the Co-Obligor Payment which otherwise would have been made by or attributable to such Co-Obligor if each such Co-Obligor had paid the aggregate Indebtedness satisfied by such Co-Obligor Payments in the same proportion as such Co-Obligor’s Allocable Amount in effect immediately prior to such Co-Obligor Payment bore to the aggregate Allocable Amounts of all such Co-Obligors in effect immediately prior to such Co-Obligor Payment, then such Co-Obligor shall be entitled to contribution and indemnification from, and to be reimbursed by, the other Co-Obligor for the amount of such excess, pro rata based upon its respective Allocable Amounts in effect immediately prior to such Co-Obligor Payment (and such obligations of one Co-Obligor to another are herein referred to as the “Contribution Obligations”).

 

3.         This Agreement is intended only to define the relative rights of the Co-Obligors, and nothing set forth in this Agreement is intended to or shall impair the obligations of any Co-Obligor to pay any amounts as and when the same shall become due and payable in accordance with the terms of the Loan Agreement.

 

4.         The Co-Obligors acknowledge that the rights of contribution and indemnification hereunder shall constitute assets in favor of the Co-Obligor to which such contribution and indemnification is owing.

 

5.         Each Co-Obligor hereby postpones and subordinates payment of all the Contribution Obligations, and makes all the Contribution Obligations subject in right of satisfaction, payment and performance, to the full and absolute payment of the Indebtedness.

 

6.          Until the date that is one (1) year and one (1) day after the date that all of  the Indebtedness has been paid and satisfied in full none of the Co-Obligors shall (a)  assert, collect, sue upon, or enforce all or any part of the Contribution Obligations;  (b) commence or join with any other creditors of any Co-Obligor in commencing any bankruptcy, reorganization, receivership or insolvency proceeding against any other Co-Obligor; (c) take, accept, ask for, sue for, receive, set off or demand any payments upon the Contribution Obligations; or (d) take, accept, ask for, sue for, receive, demand or allow to be created liens, security interests, mortgages, or pledges of or with respect to any of the assets of a Co-Obligor in favor of or for the benefit of the any other Co-Obligor.

 

7.         Each of the Co-Obligors agrees that in the event of any bankruptcy, insolvency, arrangement, reorganization or receivership proceeding relating to any other Co-Obligor, the following shall apply:

 

(a)           In any such proceeding the Lender may, and is hereby irrevocably authorized and empowered (in its own name or in the name of the said Co-Obligor) but shall have no obligation to: demand, sue for, collect and receive every  payment or distribution in respect of the Contribution Obligations and give acquittance therefor; and file claims and proofs of claims and take such other action (including, without limitation, voting the Contribution Obligations and approving or objecting to a plan of reorganization) as the Lender may deem necessary or advisable for the exercise or enforcement of any of the rights or interests of the Lender under this Agreement.

 

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(b)           In any such proceeding, each Co-Obligor will duly and promptly take such action as the Lender may request to  (i) collect for the account of the Lender the Contribution Obligations and to file appropriate claims or proofs of claim with respect thereto; and (ii) execute and deliver to the Lender such powers of attorney, assignments or other instruments as the Lender may request in order to enable it to enforce any and all claims with respect to the Contribution Obligations.

 

8.         Each of the Co-Obligors acknowledges and agrees that (a) the Lender would not make the Loan unless each Co-Obligor jointly and severally became obligated for the repayment of the Loan and granted liens on the collateral owned by said Co-Obligor to secure the payment of all of the Indebtedness, (b) each Co-Obligor derives benefits from the borrowing of the Loan by the Co-Obligors and the granting of liens by each Co-Obligor on the collateral owned by it securing the payment of the Indebtedness, and (c) the Lender and its successors and assigns are beneficiaries of this Agreement and may bring any action from time to time to enforce the benefits and rights granted to the Lender hereunder.

 

9.         This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns.

 

10.      This Agreement shall be construed and enforced in accordance with the laws of the State of Illinois.

 

11.      This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which shall constitute one and the same instrument.

 

12.      Any notices required to be given under this Agreement shall be given in the manner provided in the Loan Agreement.  All capitalized terms, unless otherwise defined herein, have the same meanings as defined in the Loan Agreement.

 

13.      This Agreement may not be modified, amended or terminated except by a written agreement executed by all of the parties hereto.

 

[NO FURTHER TEXT ON THIS PAGE]

 

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IN WITNESS WHEREOF, this Contribution Agreement has been duly executed by the parties hereto as of the date first written above.

 

	
 
    	
CO-OBLIGORS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Inland   Diversified Las Vegas Centennial Gateway, 
   L.L.C., a Delaware limited liability company
    
	
 
    	
 
    
	
 
    	
By:
    	
Inland   Territory, L.L.C.,
    
	
 
    	
 
    	
a   Delaware limited liability company, its 
   sole member
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Inland   Territory Member, L.L.C.,
    
	
 
    	
 
    	
a   Delaware limited liability company, its 
   managing member
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Inland   Diversified Real Estate Trust, Inc.,
    
	
 
    	
 
    	
a   Maryland corporation, its sole member
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Mary J. Pechous
    
	
 
    	
Name:
    	
Mary   J. Pechous
    
	
 
    	
Title:
    	
Assistant   Secretary
    
	
 
    	
 
    	
 
    
	
 
    	
Inland   Diversified Henderson Eastgate, L.L.C.,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Inland   Territory, L.L.C.,
    
	
 
    	
 
    	
a   Delaware limited liability company, its 
   sole member
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Inland   Territory Member, L.L.C.,
    
	
 
    	
 
    	
a   Delaware limited liability company, its 
   managing member
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Inland   Diversified Real Estate Trust, Inc.,
    
	
 
    	
 
    	
a   Maryland corporation, its sole member
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Mary J. Pechous
    
	
 
    	
Name:
    	
Mary   J. Pechous
    
	
 
    	
Title:
    	
Assistant   Secretary
    

 

 

	
 
    	
LENDER:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
THE   ROYAL BANK OF SCOTLAND PLC
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
RBS   Securities, Inc., its agent
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   Patrick J. Walker
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:

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