Document:

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                                                                  Exhibit 10.308

                         ALLSTATE LIFE INSURANCE COMPANY
                         ALLSTATE PLAZA SOUTH, SUITE G5C
                           NORTHBROOK, ILLINOIS 60062

                                 August 10, 2004

Inland Western Easton Forks Town, DST
2901 Butterfield Road
Oakbrook, Illinois 60523

          Re:  Allstate Life Insurance Company
               Loan No. 122483
               Forks Towne Center
               Sullivan Trail & Old Mill Road
               Easton, Pennsylvania (the "Property")

Ladies and Gentlemen:

     Reference is made to our Commitment Letter dated June 22, 2004, as amended
(the "Commitment") with respect to a $10,395,000 loan (the "Loan") to be
evidenced by a Mortgage Note of even date herewith, payable to Allstate Life
Insurance Company in the principal amount of $10,395,000 (the "Note"), and to be
secured by an Open-End Mortgage, Assignment of Leases, Rents and Contracts,
Security Agreement and Fixture Filing of even date herewith (the "Mortgage")
encumbering the Property. Initially capitalized terms used but not otherwise
defined in this letter agreement (the "Letter Agreement") have the same meanings
given them in the Mortgage.

     In consideration of your execution and delivery of the documents
evidencing, securing or otherwise pertaining to the Loan (the "Loan Documents"),
you (the "Borrower") and we ("Lender") hereby agree as follows:

     1.   RELATED AGREEMENT. This Letter Agreement shall constitute a Related
Agreement.

     2.   IMPOUNDS. With regard to the provisions contained in Section 1.06 of
the Mortgage requiring Borrower to deposit 1/12 of the annual amounts of real
estate taxes, regular and special assessments and insurance premiums, Lender
hereby agrees to defer collection of such monthly deposits for so long as (a)
Borrower is the sole fee simple owner of the Property; and (b) no Event of
Default exists under the Loan Documents and no condition or event exists which
with notice, the passage of time, or both, would constitute an Event of Default;
and (c) at Lender's election, Borrower either pays for a tax reporting service
or Borrower promptly and consistently furnishes evidence that taxes and
insurance are being currently paid.

     3.   EARTHQUAKE INSURANCE. With regard to the provisions contained in
Section 1.02 of the Mortgage requiring Borrower obtain earthquake insurance
coverage on the Property, Lender hereby agrees to waive such requirement until
such time as such coverage is available at

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commercially reasonable rates and in Lender's reasonable opinion such coverage
is generally required by other institutional lenders.

     4.   BORROWER'S RIGHT TO TRANSFER THE PROPERTY. Notwithstanding the
provisions contained in Section 1.08 and other applicable provisions of the
Mortgage, Borrower shall have a one time right, provided there is no default or
an event which, with notice or the passage of time, or both, could result in a
default by Borrower under the Loan Documents, to assign, sell or transfer all of
the Property (the "Permitted Transfer") to a party with experience, reasonably
satisfactory to Lender, in managing property similar to the Property and whose
financial condition is reasonably satisfactory to Lender ("Permitted
Transferee"). The Permitted Transfer shall be further conditioned upon:

     (a)  the payment by Borrower to Lender of a transfer fee equal to one
percent of the outstanding principal balance of the Note (a nonrefundable $5,000
deposit toward such transfer fee shall be due at the time Borrower initially
requests a Permitted Transfer, the balance of the transfer fee shall be due on
the closing of the transaction);

     (b)  the reimbursement of all of Lender's expenses, including legal fees,
incurred in connection with the Permitted Transfer;

     (c)  the Permitted Transferee and such general partners or principals of
Permitted Transferee as Lender may request, assuming, in form and substance
satisfactory to Lender, all obligations of Borrower under the Loan Documents,
including, without limitation, the Environmental Indemnity Agreement and the
Nonrecourse Exception Indemnity Agreement, with the same degree of recourse
liability as Borrower and subject to the same exculpatory provisions;

     (d)  Lender's receipt of a title policy complying with the requirements of
the Commitment, updated to the date of the Permitted Transfer, evidencing that
such Permitted Transfer will not adversely affect Lender's first and prior lien
on the Property or any other rights or interests granted to Lender under the
Loan Documents;

     (e)  Lender's receipt of opinions of counsel acceptable to Lender that all
previous opinions, pertaining to Borrower are true with respect to the Permitted
Transferee and the Permitted Transferee has duly assumed the Loan Documents, and
same are valid and enforceable against Permitted Transferee and the Property;
and that Borrower has the requisite power and authority to properly transfer the
Property;

     (f)  the Property having maintained a Debt Coverage Ratio of not less than
200 percent for the 12 month period ending 30 days before the date of the
Permitted Transfer and the Property having a projected Debt Coverage Ratio for
the next 12 months based on the most recently approved and certified financial
statements and annual rent roll of not less than 200 percent;

     (g)  the Permitted Transferee paying to Borrower at least 45 percent cash
down payment on the date of the Permitted Transfer;

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     (h)  Lender's receipt and approval of the purchase and sale contract and
copies of the proposed transfer documentation;

     (i)  Lender's receipt and approval of the Permitted Transferee's resume and
financial statements; and

     (j)  Lender's receipt and approval of an updated MAI appraisal by an
appraiser satisfactory to Lender (prepared at Borrower's expense) specifically
confirming a loan to value ratio of no more than 55 percent.

     In addition, Borrower shall have the right, provided there is no default or
an event which, with notice or the passage of time, or both, could result in a
default by Borrower under the Loan Documents, to make a Permitted Transfer to
INLAND WESTERN RETAIL REAL ESTATE TRUST, INC., a Maryland corporation ("Owner"),
the sole owner of Borrower, so long as (x) Borrower pays to Lender a transfer
fee equal to $5,000, (y) the Owner assumes, in form and substance satisfactory
to Lender, all obligations of Borrower under the Loan Documents, including,
without limitation, the Environmental Indemnity Agreement, with the same degree
of recourse liability as Borrower and subject to the same exculpatory
provisions, and (z) the conditions and requirements set forth in subparagraphs
4(b), (d) and (e) above are satisfied.

     Net Operating Income shall be certified to be true and correct by the
managing general partner, manager or chief financial officer of Borrower.

     5.   RIGHT TO CHANGE OWNERSHIP INTERESTS IN BORROWER. Notwithstanding the
provisions contained in Section 1.08 and other applicable provisions of the
Mortgage, so long as Owner maintains its status as a Real Estate Investment
Trust (a "REIT") any encumbrance, security interest or assignment or transfer of
ownership of all types and classes of the shares of Owner shall not constitute
an improper encumbrance or transfer.

     6.   DAMAGE TO PROPERTY. With regard to the provisions contained in Section
1.04(A) of the Mortgage requiring Borrower to notify Lender of damage to the
Property, the cost threshold for notification shall be increased to One Hundred
Thousand Dollars ($100,000). With regard to the provisions contained in Section
1.04(B) and 1.04(C) of the Mortgage regarding the estimated cost of restoration,
the threshold amounts shall be increased to Two Hundred Fifty Thousand Dollars
($250,000).

     7.   INSURANCE. Lender hereby approves the insurance evidenced by the
certificates attached as EXHIBIT A hereto.

     8.   PROPERTY MANAGER. Lender hereby approves Inland Northwest Management
Corp. as manager of the Property, subject to its execution of the letter
attached as EXHIBIT B hereto.

     9.   RIGHTS PERSONAL TO BORROWER. This Letter Agreement shall be binding
upon Borrower and its successors and assigns, except that the rights granted to
Borrower in paragraphs 2 -- 8 of this Letter Agreement shall be personal to
Borrower and shall not inure to the benefit of any subsequent owner of the
Property. In the event Lender transfers all or any part of the Loan or any
interest in the Loan Documents to any other person or entity, Lender agrees to
notify such transferee(s) of the existence of this Letter Agreement and the fact
that it is binding upon

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Lender's successors and assigns by delivering such transferee(s) a true, correct
and complete copy of this Letter Agreement concurrently with such transfer
accompanied by a letter of transmittal from Lender advising such transferee(s)
of the binding nature of the provisions of this Letter Agreement. Lender will
send a copy of its letter of transmittal and the enclosure to Borrower, and
Borrower's name will be shown on the face of the original letter of transmittal
as an addressee thereof.

                                  *  *  *  *  *

                            [Signature Page Follows]

                               Very truly yours,

                               ALLSTATE LIFE INSURANCE COMPANY,
                               an Illinois insurance corporation

                               By: /s/ [ILLEGIBLE]
                                  -------------------------------------

                               By: [ILLEGIBLE]
                                  -------------------------------------
                                   Its Authorized Signatories

                               Accepted and agreed:

                               INLAND WESTERN EASTON FORKS TOWN, DST
                               a Delaware statutory Trust

                               By: INLAND WESTERN RETAIL REAL ESTATE
                                   TRUST, INC., a Maryland corporation,
                                   Its Signatory Trustee

                                   By: Debra A Palmer
                                      ---------------------------------
                                   Its: Asst Secretary
                                       --------------------------------

Dated: August 10, 2004

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                                    EXHIBIT A

                             INSURANCE CERTIFICATES

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                                   EXHIBIT "B"

[INLAND(R) LOGO]
Inland Northwest Management Corp.
2901 Butterfield Road
Oak BrooK, Illinois 60523
630-218-8000 Fax: 630-218-4928

                             PROPERTY MANAGER LETTER

                        INLAND NORTHWEST MANAGEMENT CORP.

                                 August 10, 2004

     Allstate Life Insurance Company
     c/o Allstate Investments, LLC
     Allstate Plaza South, Suite G5C
     3075 West Sanders Road
     Northbrook, Illinois 60062
     Attention: Commercial Mortgage Division

               Re:  Allstate Life Insurance Company
                    Loan No. 122483
                    Forks Towne Center
                    Sullivan Trail & Old Mill Road
                    Easton, Pennsylvania (the "Property")

     Ladies and Gentlemen:

          The undersigned ("Manager") is the current property manager of the
     Property pursuant to that certain Management Agreement (the "Agreement")
     dated July 27, 2004 by and between INLAND WESTERN EASTON FORKS TOWN, DST, a
     Delaware statutory trust ("Owner") and Manager. In consideration of your
     making the Loan to Owner (Manager being an affiliate of Owner), Manager
     acknowledges and agrees to the following:

          1.   Allstate, in its sole discretion, may terminate the Agreement by
               notice to Manager upon acquisition by Allstate of title to the
               Property by foreclosure, deed in lieu of foreclosure, or other
               transfer of the Property or upon Allstate otherwise obtaining
               possession of the Property by any lawful means. Upon the
               appointment of a receiver or court appointed officer, either
               Allstate or such receiver or officer may terminate the Agreement
               in its sole discretion by notice to Manager.

          2.   Manager waives any right to create a lien against the Property to
               secure payment of unpaid management fees.

          3.   Upon the occurrence of, and during the continuation of, a default
               under any of the documents evidencing the Loan which has not been
               cured in. Allstate's sole judgment, all management fees paid or
               payable to Manager thereafter shall be subordinate to amounts
               owed to Allstate under such Loan documents.

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          4.   Upon the occurrence of, and during the continuation of, a default
               under any of the documents evidencing the Loan which has not been
               cured in Allstate's sole judgment, all management fees and other
               sums received by Manager thereafter in connection with management
               of the Property shall be held in trust for the benefit of
               Allstate.

          5.   Until Allstate elects to terminate the Agreement as provided
               herein, Manager will perform all of its obligations, covenants,
               conditions and agreements under the Agreement for the benefit of
               Allstate and its successors and assigns, so long as Allstate
               performs the duties and obligations of Owner under the Agreement
               accruing after the date Allstate exercises its rights under the
               Mortgage.

                                         INLAND NORTHWEST MANAGEMENT
                                         CORP., a Delaware corporation

                                         By: /s/  Robert M. Berg
                                            ----------------------------
                                             Its  SR. VP
                                                -------------------------<Page>

                                                                  Exhibit 10.309

                                                 Allstate Life Insurance Company
                                                                 Loan No. 122483

                                  MORTGAGE NOTE

                                                               Chicago, Illinois
$10,395,000                                                      August 10, 2004

      1.    PAYMENT OF PRINCIPAL AND INTEREST. FOR VALUE RECEIVED, INLAND
WESTERN EASTON FORKS TOWN, DST, a Delaware statutory trust (the "Maker"), hereby
promises to pay to the order of ALLSTATE LIFE INSURANCE COMPANY, and any
subsequent holder of this Note ("Holder" or "Holders") in the manner hereinafter
provided, the principal amount of TEN MILLION THREE HUNDRED NINETY FIVE THOUSAND
DOLLARS ($10,395,000), together with interest on the outstanding principal
balance from the date of the initial disbursement (for purposes of this Note,
"disbursement" means the date funds are wire transferred from Holder's account)
of all or a part of the principal of this Note ("Disbursement Date") until
maturity at the rate of four and 97/100 percent (4.97%) per annum ("Contract
Rate") as follows:

      (a)   on the Disbursement Date, interest only, in advance, accruing from
the Disbursement Date to the last day of August, 2004, both inclusive; and

      (b)   interest only, in arrears, in the amount of FORTY THREE THOUSAND
FIFTY TWO AND 63/100 DOLLARS ($43,052,63) on the first day of October, 2004, and
on the first day of each month thereafter until this Note is fully paid (the
initial payment and each subsequent payment under this subparagraph (b) shall
each hereinafter be referred to as "Monthly Payment"); and

      (c)   on August 1, 2009, the entire unpaid principal amount and any
interest accrued but remaining unpaid and all other sums due under this Note.

      Except for the interest payable under paragraph (a) above, interest shall
be payable in arrears and calculated on the basis of a 360 day year containing
twelve 30 day months. All such payments on account of the indebtedness evidenced
by this Note shall be first applied to interest accrued on the unpaid principal
amount and the remainder toward reduction of the unpaid principal amount.

      2.    PAYMENT INFORMATION. All payments required to be made hereunder
shall be made during regular business hours to Holder at its office c/o
Commercial Mortgage Division, Allstate Plaza South, Suite G5C, 3075 Sanders
Road, Northbrook, Illinois 60062, Attention: Servicing Manager, with sufficient
information to identify the source and application of such payment to Holder's
Loan #122483, or at such other place as Holder may from time to time designate
in writing. All payments shall be made in currency of the United States of
America without presentment or surrender of this Note. Payments to Holder shall
be made by transferring immediately available federal funds by bank wire or
interbank transfer for the account of Holder. Any payment of principal or
interest received after 1:00 p.m. Chicago time shall be deemed to have been
received by Holder on the next business day and shall bear interest accordingly.
If and so long as Holder directs Maker to make payments to a servicing agent,
then payments may

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be made by check. Payments made by check will not be deemed made until good
funds for such check are received by Holder or the servicing agent.

      3.    SECURITY FOR NOTE. The payment of this Note and all other sums due
Holder is secured by (a) an Open-End Mortgage, Assignment of Leases, Rents and
Contracts, Security Agreement and Fixture Filing ("Mortgage") of even date
herewith, granted by Maker, as mortgagor, to Holder, as mortgagee, covering
certain real property, the improvements thereon and certain personal property
situated in the County of Easton, State of Pennsylvania and described in the
Mortgage ("Property"), and (b) those certain instruments of indebtedness and
security described as "Related Agreements" in the Mortgage. Except as otherwise
defined herein, all of the defined terms contained in the Mortgage and the
Related Agreements are hereby incorporated herein by express reference.

      4.    LATE CHARGES. If any Monthly Payment required under this Note not be
paid in full on or before the fifth (5th) day of the month in which such payment
is due, Maker acknowledges that the Holder will incur extra expenses for the
handling of the delinquent payment and servicing the indebtedness evidenced
hereby, and that the exact amount of these extra expenses is extremely difficult
and impractical to ascertain, but that a charge of five percent (5%) of the
amount of the delinquent payment ("Late Charge") would be a fair approximation
of the expense so incurred by Holder, If applicable law requires a lesser
charge, however, then the maximum charge permitted by such law may be charged by
Holder for said purpose. Therefore, Maker shall, in such event, without further
notice, and without prejudice to the right of Holder to collect any other
amounts provided to be paid hereunder or under the Mortgage, the Related
Agreements or any other instrument executed for purposes of further securing
payment of the obligations evidenced by this Note, or to declare an Event of
Default, as defined below, pay to Holder immediately upon demand the Late Charge
to compensate Holder for expenses incurred in handling delinquent payments.

      5.    INTEREST PAYABLE UPON DEFAULT. If there occurs an Event of Default
under this Note or the Mortgage or under any Related Agreement, then the unpaid
principal amount of this Note, and all accrued and unpaid interest thereon shall
bear interest at the Contract Rate plus five percent (5%) per annum compounded
monthly ("Default Rate") from the date of expiration of any applicable cure or
grace period until such time, if any, as the Event of Default is cured and the
Mortgage and this Note are reinstated as permitted by applicable law, or
otherwise until such time as the unpaid principal amount of this Note and all
other indebtedness evidenced by this Note are fully repaid, whichever is
earlier.

      6.    EVENTS OF DEFAULT. An "Event of Default" shall exist under this
Note:

      (a)   in the event Maker shall fail to make any payment due under this
Note, other than the final payment and Prepayment Premium, on or before the
fifth (5th) day of the month in which such payment is due;

      (b)   in the event Maker shall fail to make the final payment or the
Prepayment Premium when such payment is due; or

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      (c)   if there shall exist an Event of Default under the Mortgage, or in
any of the Related Agreements.

      7.    ADDITIONAL PAYMENTS. The additional payments called for under
Paragraphs 4 and 5 shall be in addition to, and shall in no way limit, any other
rights and remedies provided for in this Note, the Mortgage, any Related
Agreements, or otherwise provided by law.

      8.    PAYMENT OF TAXES AND EXPENSES. Maker further promises to pay to
Holder, immediately upon written notice from Holder; (i) all recordation,
transfer, stamp, documentary or other fees or taxes levied on Holder (exclusive
of Holder's income taxes) by reason of the making or recording of this Note, the
Mortgage or any of the Related Agreements, and (ii) all intangible property
taxes levied upon any Holder of this Note or mortgagee under the Mortgage or
secured party under the Related Agreements.

      Maker further promises to pay to Holder, immediately upon written notice
from Holder, all actual costs, expenses, disbursements, escrow fees, title
charges and reasonable legal fees and expenses actually incurred by Holder and
its counsel in (i) the collection, attempted collection, or negotiation and
documentation of any settlement or workout of the principal amount of this Note,
the interest thereon or any installment or other payment due hereunder, and (ii)
any suit or proceeding whatsoever at all trial and appellate levels in regard to
this Note or to protect, sustain or enforce the lien of any instrument securing
this Note, including, without limitation, in any bankruptcy proceeding or
judicial or nonjudicial foreclosure proceeding. It is the intent of the parties
that Maker pay all expenses and reasonable attorneys' and paralegals' fees
incurred by Holder as a result of or in connection with (A) matters described in
clauses (i) and (ii) above, (B) the negotiation and closing of the loan
transaction evidenced by this Note, and any supplements or amendments thereto,
(C) the protection of property given as security for the indebtedness evidenced
hereby, and (D) responding to requests from Maker that Holder take certain
actions, and as may otherwise be reasonably incurred by Holder as a result of or
in connection with entering into the loan transaction evidenced by this Note.

      9.    PREPAYMENT. Maker is prohibited from prepaying this Note until
September 1, 2005 (the "No-Prepayment Period"). Subsequent to the No-Prepayment
Period, at any time with thirty (30) days prior written notice to Holder,
specifying the date of prepayment, Maker will have the privilege of prepaying
the outstanding principal amount together with any accrued but unpaid interest,
any other sums secured by the Mortgage and the Related Agreements, and a
prepayment premium ("Prepayment Premium") equal to the greater of:

      (a)   one percent of the principal amount prepaid, or

      (b)   the yield maintenance payment calculated as follows:

            If the Prevailing Interest Rate is less than the Contract Rate, the
            yield maintenance payment shall be the remainder of (x) minus (y)
            where "(x)" is the present value of all unpaid installments of
            principal and interest due under this Note from the date of
            prepayment to and including the original maturity date of this Note,
            discounted at the Prevailing Interest Rate, plus 0.50 percent (50
            basis points), and "(y)" is the outstanding principal balance of
            this Note as of the prepayment date.

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            The term "Prevailing Interest Rate" as used herein shall mean the
            yield to maturity on a United States Treasury Bond or Treasury Note
            selected by Holder having a maturity date as near as possible to the
            original maturity date of this Note and an "ask" price, as close as
            possible to par (as published two weeks prior to the specified date
            of prepayment in THE WALL STREET JOURNAL or similar publication or
            available from the Federal Reserve Bank of New York), less the Basis
            Point Adjustment as computed in accordance with EXHIBIT A attached
            hereto to convert the monthly payments to a semi-annual equivalent.

      No Prepayment Premium shall be due on the principal balance prepaid within
the thirty (30) day period prior to the Maturity Date of this Note.

      Written notice of Maker's election to make a prepayment in full of this
Note shall be given in the manner provided for notices under the Mortgage.
Partial prepayment of the outstanding principal amount of this Note shall not be
permitted except in accordance with the terms of the Mortgage. In the event of
such a permitted partial prepayment, the Prepayment Premium calculated in this
Paragraph 9 shall be prorated based on the amount of the partial prepayment
relative to the then current outstanding principal balance of this Note.

      Maker acknowledges that Holder:

      (a)   has advanced the amounts evidenced by this Note with the expectation
that such amounts would be outstanding for a period at least equal to the
No-Prepayment Period;

      (b)   would not have been willing to advance such amounts on these terms
for a shorter period of time;

      (c)   in making the loan evidenced by this Note, is relying on Maker's
creditworthiness and its agreement to pay in strict accordance with the terms
set forth in the Note; and

      (d)   would not make the loan evidenced by this Note without full and
complete assurance by Maker of its agreement not to prepay all or a part of the
principal of this Note except as expressly permitted herein and in the Mortgage.

      Maker has been advised and acknowledges that Holder is relying on the
receipt of payments under this Note to, among other things, match and support
its obligations under contracts entered into by Holder with third parties and
that in the event of a prepayment, Holder could suffer loss and additional
expenses which are extremely difficult and impractical to ascertain.
Accordingly, it is the express intent of Maker and Holder that: (a) Maker shall
have no right to prepay this Note during the No-Prepayment Period; (b) any
prepayment of this Note during the No-Prepayment Period shall only occur in the
event Holder accelerates payment under this Note or as otherwise set forth in
the Mortgage; (c) any prepayment described in foregoing clause (b) shall (unless
otherwise expressly permitted in the Mortgage) require the payment of the
Prepayment Premium; and (d) to the extent permitted by applicable law, Maker has
waived, and hereby waives, any right to prepay this Note except as expressly
provided in the Mortgage or this Note during the No-Prepayment Period. In the
event, notwithstanding the foregoing express intent of Maker and Holder and the
express waiver by Maker of any right to prepay this Note during the
No-Prepayment Period, that the applicable law of the jurisdiction in which the

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Property is located permits the Maker to prepay this Note during the
No-Prepayment Period, then the applicable Prepayment Premium described in clause
(c) in the third sentence of this grammatical paragraph shall be paid to Holder
as a condition to any such prepayment.

      Maker expressly acknowledges that, pursuant to the provisions of this Note
and except as otherwise provided in this Note or the Mortgage, Maker has no
right to prepay this Note in whole or in part during the No-Prepayment Period.
In the event any prepayment is required or expressly permitted, Maker shall be
liable for the payment of the Prepayment Premium unless expressly stated
otherwise in this Note or in the Mortgage. Furthermore, Maker waives any rights
it may have under any applicable state laws as they relate to any prepayment
restrictions contained in this Paragraph 9 or otherwise contained in this Note
and expressly acknowledges that Holder has made the loan evidenced by this Note
in reliance upon such agreement and waiver of Maker and that Holder would not
have made the loan evidenced by this Note without such agreement and waiver of
Maker. Maker acknowledges that specific weight has been given to the
consideration given for such agreement, which consideration is the granting of
the loan.

      10.   EVASION OF PREPAYMENT PREMIUM. Maker acknowledges that in the event
of an acceleration of payment of this Note following an Event of Default by
Maker, a tender of payment of an amount necessary to satisfy the indebtedness
evidenced hereby, but not including the Prepayment Premium, made at any time
prior to a foreclosure sale by Maker, its successors or assigns or by anyone on
behalf of Maker, or by a buyer upon foreclosure or power of sale, shall
constitute a prepayment hereunder and shall be presumed to be and conclusively
deemed to constitute a deliberate evasion of the prepayment provisions hereof
and shall therefore be subject to the Prepayment Premium in accordance with this
Note with the date of prepayment being deemed the date of occurrence of the
foreclosure sale or the tender of payment of the amount necessary to pay the
entire indebtedness evidenced hereby in full, including the Prepayment Premium.

      11.   MAKER'S COVENANTS. Maker agrees that:

      (a)   this instrument and the rights and obligations of all parties
hereunder shall be governed by and construed under the laws of the Commonwealth
of Pennsylvania, without regard to its conflict of laws provisions;

      (b)   the obligation evidenced by this Note is an exempted transaction
under the Truth-in-Lendmg Act, 15 U.S.C Section 1601, ET SEQ. (1982);

      (c)   said obligation constitutes a business loan for the purpose of the
application of any laws that distinguish between consumer loans and business
loans and that have as their purpose the protection of consumers in the
Commonwealth of Pennsylvania;

      (d)   at the option of the Holder, the United States District Court for
the district in which the Property is located and any court of competent
jurisdiction of the Commonwealth of Pennsylvania shall have jurisdiction in any
action, suit or other proceeding arising out of or relating to any act taken or
omitted hereunder or the enforcement of this Note, the Mortgage and the Related
Agreements and Maker shall not assert in any such action, suit or other
proceeding that it is not personally subject to the jurisdiction of such courts,
that the action, suit or other

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proceeding is brought in an inconvenient forum or that the venue of the action,
suit or other proceeding is improper;

      (e)   it hereby waives any objections to venue; and

      (f)   it hereby waives its right to a trial by jury.

      12.   SEVERABILITY. The parties hereto intend and believe that each
provision of this Note comports with all applicable local, state and federal
laws and judicial decisions. However, if any provision or any portion of any
provision contained in this Note is held by a court of law to be invalid,
illegal, unlawful, void or unenforceable as written in any respect, then it is
the intent of all parties hereto that such portion or provision shall be given
force to the fullest possible extent that it is legal, valid and enforceable,
that the remainder of the Note shall be construed as if such illegal, invalid,
unlawful, void or unenforceable portion or provision was not contained therein,
and the rights, obligations and interests of Maker and Holder under the
remainder of this Note shall continue in full force and effect.

      13.   USURY LAWS. It is the intention of Maker and Holder to conform
strictly to the usury laws now or hereafter in force in the Commonwealth of
Pennsylvania, and any interest payable under this Note, the Mortgage, or any
Related Agreement shall be subject to reduction to an amount not to exceed the
maximum non-usurious amount for commercial loans allowed under the usury laws of
the Commonwealth of Pennsylvania as now or hereafter construed by the courts
having jurisdiction over such matters. In the event such interest (whether
designated as interest, service charges, points, or otherwise) does exceed the
maximum legal rate, it shall be:

      (a)   cancelled automatically to the extent that such interest exceeds the
maximum legal rate;

      (b)   if already paid, at the option of the Holder, either be rebated to
Maker or credited on the principal amount of the Note; and

      (c)   if the Note has been prepaid in full, then such excess shall be
rebated to Maker.

      14.   ACCELERATION. Upon an Event of Default, Holder shall have the right,
without further demand or notice, to declare the entire principal amount of this
Note and/or any Future Advance (as defined in the Mortgage) then outstanding,
all accrued and unpaid interest thereon and all other further sums payable under
this Note, which shall include the Prepayment Premium (calculated as provided in
Paragraph 9 above), the Mortgage or any note evidencing any Future Advance, to
be immediately due and payable and, notwithstanding the stated maturity in this
Note or any note evidencing any Future Advance, all such sums declared due and
payable shall thereupon become immediately due and payable, During the existence
of such Event of Default, Holder may apply payments received on any amounts due
under the Note, the Mortgage, any Related Agreement or any note evidencing any
Future Advance as Holder may determine in its sole discretion.

                                        6
<Page>

      15.   WAIVERS BY MAKER. As to this Note, the Mortgage, the Related
Agreements and any other instruments securing the indebtedness, Maker and all
guarantors, sureties and endorsers, severally waive all applicable exemption
rights, whether under any state constitution, homestead laws or otherwise, and
also severally waive diligence, valuation and appraisement, presentment for
payment, protest and demand, notice of protest, demand and dishonor and
diligence in collection and nonpayment of this Note and all other notices in
connection with the delivery, acceptance, performance, default, or enforcement
of the payment of this Note (except notice of default specifically provided for
in the Mortgage and the Related Agreements). To the extent permitted by law,
Maker further waives all benefit that might accrue to Maker by virtue of any
present or future laws exempting the Property, or any other property, real or
personal, or the proceeds arising from any sale of any such property, from
attachment, levy, or sale under execution, or providing for any stay of
execution to be issued on any judgment recovered on this Note or in any action
to foreclose the Mortgage, injunction against sale pursuant to power of sale,
exemption from civil process or extension of time for payment. Maker agrees that
any real estate or any personalty that may be levied upon pursuant to a judgment
obtained by virtue of this Note, or any writ of execution issued thereon, may be
sold upon any such writ in whole or in part in any order desired by Holder.

      16.   MAKER NOT RELEASED. No delay or omission of Holder to exercise any
of its rights and remedies under this Note, the Mortgage or any Related
Agreements at any time following the happening of an Event of Default shall
constitute a waiver of the right of Holder to exercise such rights and remedies
at a later time by reason of such Event of Default or by reason of any
subsequently occurring Event of Default. The acceptance by Holder of payment of
any sum payable hereunder after the due date of such payment shall not be a
waiver of Holder's right to either require prompt payment when due of all other
sums payable hereunder or to declare a default for failure to make prompt
payment. This Note, or any payment hereunder, may be extended from time to time
by agreement in writing between Maker and Holder without in any other way
affecting the liability and obligations of Maker and endorsers, if any.

      17.   NONRECOURSE. Except as otherwise set forth in this Paragraph,
Holder's recourse under this Note, the Mortgage and the Related Agreements shall
be limited to and satisfied from the Property and the proceeds thereof, the
rents and all other income arising therefrom during and after the month in which
an Event of Default has occurred, the other assets of Maker arising out of the
Property which are given as collateral for this Note, and any other collateral
given in writing to Holder as security for repayment of this Note (all of the
foregoing are collectively referred to as the "Loan Collateral").
Notwithstanding the preceding sentence:

      (a)   Holder may, in accordance with the terms of this Note, the Mortgage
or any Related Agreement: (i) foreclose the lien of the Mortgage; (ii) take
appropriate action to enforce this Note, the Mortgage and the Related Agreements
to realize upon and/or protect the Loan Collateral; (iii) name Maker as a party
defendant in any action brought under this Note, the Mortgage or the Related
Agreements so long as the exercise of any remedy is limited to the Loan
Collateral; (iv) pursue all of its rights and remedies against any guarantor or
surety or master tenant whether or not a partner, member or other owner of
Maker, and (v) pursue all of its rights and remedies against Maker and the
indemnitors under that certain Environmental Indemnity Agreement of even date
herewith and that certain Terrorism Insurance Indemnity Agreement of even date
herewith;

                                        7
<Page>

      (b)   Holder may seek damages or other monetary relief, to the extent of
actual monetary loss, or any other remedy at law or in equity against Maker, and
the indemnitors/guarantors, if any, under any nonrecourse exception indemnity
agreements ("Nonrecourse Indemnitors") by reason of or in connection with; (i)
the failure of Maker to pay to Holder, upon demand, all rents, issues and
profits of the Property to which Holder is entitled pursuant to this Note, the
Mortgage or the Related Agreements following an Event of Default; (ii) any waste
of the Property or any willful act or omission by Maker which damages or
materially reduces the value of the Property; (iii) the distribution of rents,
issues and profits from the Property prior to the payment of operating expenses
or the provision for reserves, if any, to be made pursuant to this Note, the
Mortgage or the Related Agreement prior to any other expenditure or distribution
by Maker; (iv) the failure to account for and to turn over security deposits
(and interest required by law or agreement to be paid thereon) or prepaid rents
following the occurrence of an Event of Default under this Note, the Mortgage or
any Related Agreements; (v) the failure to timely pay all real estate taxes or
any regular or special assessments affecting the Property; (vi) the failure to
account for and to turn over real estate tax accruals following the occurrence
of an Event of Default under this Note, the Mortgage or any Related Agreements;
(vii) the failure to maintain casualty and liability insurance as required under
the Mortgage or the Related Agreements or to apply insurance proceeds or
condemnation awards relating to the Property or other collateral in the manner
required under applicable provisions of this Note, the Mortgage or any Related
Agreements; (viii) any modification, termination or cancellation of any lease of
all or any portion of the Property without Holder's prior written consent, if
and to the extent such consent is required under the Mortgage or the Related
Agreements and if and to the extent such modification, termination or
cancellation has a material adverse affect on the value of the Property; (ix) a
default by Maker under any lease of all or any portion of the Property; or (x)
costs and expenses, including, without limitation, attorney's fees and transfer
taxes, incurred by Holder in connection with the enforcement of this Note, the
Mortgage or the Related Agreements or in connection with a deed-in-lieu of
foreclosure if the Event of Default giving rise to the enforcement action is one
described in subsections (b) or (c) as an exception to the nonrecourse
provisions, or if the Maker or any principal of Maker objects to any actions
taken by Holder to exercise its remedies under the Loan Documents; Maker or
principal of Maker commences any lawsuit to enjoin or delay a foreclosure of the
Property by Holder, or raises defenses or counterclaims to a foreclosure action;
Maker applies for the appointment of a receiver, trustee or liquidator for it or
for any of its property, or, as a debtor, files a voluntary petition in
bankruptcy, or petition or answer seeking reorganization or an arrangement with
creditors or takes advantage of any bankruptcy, reorganization, insolvency,
readjustment of debt, dissolution or liquidation law or statute, or makes a
general assignment for the benefit of creditors; or in the event any bankruptcy
or reorganization proceedings (voluntary or involuntary), the Maker or any
principal of Maker opposes any motion by Holder for relief from the Automatic
Stay; and

      (c)   Maker, any general partners of Maker and the Nonrecourse
Indemnitor(s), if any, shall become personally liable for payment of all the
indebtedness evidenced by this Note and performance of all other obligations of
Maker under this Note, the Mortgage and Related Agreements upon the occurrence
of any of the following: (i) fraud or willful misrepresentation of a material
fact by Maker, any general partners of Maker, or Nonrecourse Indemnitor(s), if
any, in connection with this Note, the Mortgage, the Related Agreements or any
request for any action or consent by Holder; (ii) a Transfer of any interest in
Maker or all or any portion of the Property

                                        8
<Page>

or any interest therein in violation of the terms of this Note, the Mortgage or
the Related Agreements; or (iii) the incurrence by Maker of any indebtedness in
violation of the terms of this Note, the Mortgage or Related Agreements (whether
secured or unsecured, direct or contingent), other than unsecured debt or
routine trade payables incurred in the ordinary course of business in connection
with the operation of the Property.

      In addition, Maker, any general partners of Maker and the Nonrecourse
Indemnitors, if any, shall be responsible for any costs and expenses incurred by
Holder in connection with the collection of any amounts for which Maker, its
general partners, if any, and the Nonrecourse Indemnitors, if any, are
personally liable under this Paragraph 17, including attorneys' fees and
expenses, court costs, filing fees and all other costs and expenses incurred in
connection therewith.

      18.   SUCCESSORS AND ASSIGNS. The provisions of this Note shall be binding
upon Maker and its legal representatives, successors and assigns and shall inure
to the benefit of any Holder and its successors and assigns. In the event Maker
is composed of more than one party, obligations arising from this Note are and
shall be joint and several as to each such party.

      19.   REMEDIES CUMULATIVE. The remedies of Holder as provided in this
Note, the Mortgage or the Related Agreements, and the warranties contained
herein or therein shall be cumulative and concurrent, may be pursued singly,
successively or together at the sole discretion of Holder, may be exercised as
often as occasion for their exercise shall occur and in no event shall the
failure to exercise any such right or remedy be construed as a waiver or release
of such right or remedy. No remedy under this Note, conferred upon or reserved
to Holder is intended to be exclusive of any other remedy provided in this Note,
the Mortgage or any of the Related Agreements or provided by law, but each shall
be cumulative and shall be in addition to every other remedy given under the
Mortgage or any of the Related Agreements or hereunder or now or hereafter
existing at law or in equity or by statute.

      20.   NOTICES. All notices, written confirmation of wire transfers and all
other communications with respect to this Note shall be directed as follows:

            If to Holder:

                    c/o Allstate Investments, LLC
                    Allstate Plaza South, Suite G5C
                    3075 Sanders Road
                    Northbrook, Illinois 60062
                    Attention:   Commercial Mortgage Division
                                 Servicing Manager

            With a copy to:

                    c/o Allstate Investments, LLC
                    Allstate Plaza South, Suite G5A
                    3075 Sanders Road
                    Northbrook, Illinois 60062
                    Attention:   Investment Law Division

                                        9
<Page>

            If to Maker

                    Inland Western Easton Forks Town, DST
                    2901 Butterfield Road
                    Oakbrook, Illinois 60523
                    Attention:   Roberta Matlin

            With a copy to:

                    The Inland Real Estate Group, Inc.
                    2901 Butterfield Road
                    Oakbrook, Illinois 60523
                    Attention:   General Counsel

or at such other place as Holder or Maker may from time to time designate in
writing. All notices shall be in writing and shall be (a) hand-delivered, (b)
sent by United States express mail or by private overnight courier, or (c)
served by certified mail postage prepaid, return receipt requested, to the
appropriate address set forth above. Notices served as provided in (a) and (b)
shall be deemed to be effective upon delivery. Any notice served by certified
mail shall be deposited in the United States mail with postage thereon fully
prepaid and shall be deemed effective on the day of actual delivery as shown by
the addressee's return receipt or the expiration of three business days after
the date of mailing, whichever is earlier in time.

      21.   NO ORAL MODIFICATION. This Note may not be modified or discharged
orally, but only by an agreement in writing signed by the party against whom
enforcement of any waiver, modification or discharge is sought.

      22.   TIME. Time is of the essence with regard to the performance of the
obligations of Maker in this Note and each and every term, covenant and
condition herein by or applicable to Maker.

      23.   CAPTIONS. The captions and headings of the paragraphs of this Note
are for convenience only and are not to be used to interpret, define or limit
the provisions hereof.

      24.   REPLACEMENT NOTE. Upon receipt of evidence reasonably satisfactory
to Maker of the loss, theft, destruction or mutilation of this Note, and in the
case of any such loss, theft or destruction, upon delivery of an indemnity
agreement reasonably satisfactory to Maker or, in the case of any such
mutilation, upon surrender and cancellation of this Note, Maker will execute and
deliver to Holder in lieu thereof, a replacement note dated as of the date of
this Note, identical in form and substance to this Note and upon such execution
and delivery all references in the Mortgage to this Note shall be deemed to
refer to such replacement note.

      25.   TRANSFER OF NOTE. Holder may, at any time, sell, transfer or assign
this Note, the Mortgage and the Related Agreements, and any or all servicing
rights with respect to this Note, or grant participations in this Note or issue
mortgage pass-through certificates or other securities evidencing a beneficial
interest in this Note. Holder may forward to any prospective purchaser or any
rating agency rating securities all documents and information Holder now has or
may

                                       10
<Page>

acquire, as Holder determines necessary or desirable, including, without
limitation, financial information regarding Maker, its general partners,
shareholders, members or other principals.

      26.   CONFESSION OF JUDGMENT. THE FOLLOWING PARAGRAPH SETS FORTH A WARRANT
OF AUTHORITY FOR AN ATTORNEY TO CONFESS JUDGMENT AGAINST THE MAKER. IN GRANTING
THIS WARRANT OF ATTORNEY TO CONFESS JUDGMENT AGAINST THE MAKER, THE MAKER HEREBY
KNOWINGLY, INTENTIONALLY AND VOLUNTARILY, AND, ON THE ADVICE OF SEPARATE COUNSEL
OF THE MAKER, UNCONDITIONALLY WAIVES ANY AND ALL RIGHTS THE MAKER HAS OR MAY
HAVE TO PRIOR NOTICE AND AN OPPORTUNITY FOR HEARING UNDER THE RESPECTIVE
CONSTITUTIONS AND LAWS OF THE UNITED STATES AND THE COMMONWEALTH OF
PENNSYLVANIA.

      MAKER HEREBY AUTHORIZES ANY ATTORNEY OF ANY COURT OF RECORD IN THE
      COMMONWEALTH OF PENNSYLVANIA, OR ELSEWHERE, TO APPEAR FOR MAKER IN ANY
      ACTION BROUGHT ON THIS NOTE AFTER THE OCCURRENCE OF AN EVENT OF DEFAULT,
      AND TO CONFESS JUDGMENT AGAINST MAKER FOR ALL PRINCIPAL AND INTEREST AND
      ALL OTHER SUMS THEN DUE PURSUANT TO THE TERMS OF THIS NOTE, THE MORTGAGE
      AND THE RELATED AGREEMENTS, OR ANY OF THEM, AND FOR COSTS OF SUIT AND AN
      ATTORNEY'S COMMISSION OF FIVE PERCENT OF THE UNPAID PRINCPAL BALANCE, BUT
      IN ANY EVENT NOT LESS THAN TWENTY THOUSAND DOLLARS ($20,000), NOR MORE
      THAN FORTY THOUSAND DOLLARS ($40,000), TOGETHER WITH INTEREST ON ANY
      JUDGMENT OBTAINED BY HOLDER AT THE DEFAULT RATE, INCLUDING INTEREST AT
      THAT RATE FROM AND AFTER THE DATE OF ANY SHERIFF'S OR JUDICIAL SALE UNTIL
      ACTUAL PAYMENT IS MADE TO HOLDER OF THE FULL AMOUNT DUE HOLDER, AND FOR SO
      DOING THIS SHALL BE A GOOD AND SUFFICIENT WARRANT. MAKER WAIVES AND
      RELINQUISHES ALL PROCEDURAL ERRORS, DEFECTS AND IMPERFECTIONS IN ANY ENTRY
      OF JUDGMENT AS AFORESAID, OR IN ANY PROCEEDING PURSUANT THERETO, AND ALL
      BENEFITS THAT MAY ACCRUE TO MAKER BY VIRTUE OF ANY LAW OR RULE OF COURT
      RELATING TO A STAY OF EXECUTION OR EXEMPTING ANY PROPERTY FROM LEVY OR
      SALE UNDER EXECUTION. THE AUTHORITY GRANTED IN THIS NOTE TO CONFESS
      JUDGMENT SHALL NOT BE EXHAUSTED BY ANY EXERCISE OF IT, BUT SHALL CONTINUE
      AT ALL TIMES UNTIL PAYMENT IN FULL OF ALL AMOUNTS DUE UNDER THIS NOTE, THE
      MORTGAGE AND THE RELATED AGREEMENTS.

                                *   *   *   *   *

                            [Signature Page Follows]

                                       11
<Page>

      IN WITNESS WHEREOF, Maker has caused this Mortgage Note to be duly
executed on the date first above written.

                                        MAKER:

                                        INLAND WESTERN EASTON FORKS TOWN, DST
                                        a Delaware statutory Trust

                                        By: INLAND WESTERN RETAIL REAL ESTATE
                                            TRUST, INC., a Maryland corporation,
                                            Its Signatory Trustee

                                            By:    /s/ Debra A Palmer
                                                --------------------------------
                                            Its:   Asst Secretary
                                                --------------------------------

                                        12
<Page>

                                    EXHIBIT A

                          BASIS POINT ADJUSTMENT TABLE

<Table>
<Caption>
   U.S. Treasury                                       U.S. Treasury
    Bond or Note              Basis Point               Bond or Note                Basis Point
       Yield                  Adjustment                   Yield                    Adjustment
   -------------              -----------              -------------                -----------
    <S>                          <C>                    <C>                               <C>
     0.00-1.55                   .00                    14.07-14.24                       .40
     1.56-2.69                   .01                    14.25-14.41                       .41
     2.70-3.48                   .02                    14.42-14.59                       .42
     3.49-4.12                   .03                    14.60-14.77                       .43
     4.13-4.68                   .04                    14.78-14.94                       .44
     4.69-5.17                   .05                    14.95-15.11                       .45
     5.18-5.63                   .06                    15.12-15.28                       .46
     5.64-6.05                   .07                    15.29-15.44                       .47
     6.06-6.44                   .08                    15.45-15.61                       .48
     6.45-6.82                   .09                    15.62-15.77                       .49
     6.83-7.17                   .10                    15.78-15.94                       .50
     7.18-7.51                   .11                    15.95-16.10                       .51
     7.52-7.83                   .12                    16.11-16.26                       .52
     7.84-8.14                   .13                    16.27-16.41                       .53
     8.15-8.44                   .14                    16.42-16.57                       .54
     8.45-8.73                   .15                    16.58-16.73                       .55
     8.74-9.02                   .16                    16.74-16.88                       .56
     9.03-9.29                   .17                    16.89-17.03                       .57
     9.30-9.55                   .18                    17.04-17.18                       .58
     9.56-9.81                   .19                    17.19-17.33                       .59
     9.82-10.07                  .20                    17.34-17.48                       .60
    10.08-10.31                  .21                    17.49-17.63                       .61
    10.32-10.55                  .22                    17.64-17.78                       .62
    10.56-10.79                  .23                    17.79-17.92                       .63
    10.80-11.02                  .24                    17.93-18.07                       .64
    11.03-11.25                  .25                    18.08-18.21                       .65
    11.26-11.47                  .26                    18.22-18.35                       .66
    11.48-11.69                  .27                    18.36-18.49                       .67
    11.70-11.90                  .28                    18.50-18.63                       .68
    11.91-12.11                  .29                    18.64-18.77                       .69
    12.12-12.32                  .30                    18.78-18.91                       .70
    12.33-12.52                  .31                    18.92-19.05                       .71
    12.53-12.72                  .32                    19.06-19.18                       .72
    12.73-12.92                  .33                    19.19-19.32                       .73
    12.93-13.12                  .34                    19.33-19.45                       .74
    13.13-13.31                  .35                    19.46-19.59                       .75
    13.32-13.50                  .36                    19.60-19.72                       .76
    13.51-13.69                  .37                    19.73-19.85                       .77
    13.70-13.87                  .38                    19.86-19.99                       .78
    13.88-14.06                  .39                    20.00-20.12                       .79
</Table>

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