Document:

Exhibit

EXCHANGE AGREEMENT

This letter agreement (“Agreement”) sets forth the terms and conditions upon which Bill Barrett Corporation, a Delaware corporation (“Company”), will issue the number of shares (the “Shares”) of Company’s Common Stock, par value $0.001 per share (“Common Stock”), indicated on the signature page hereof to each holder indicated on the signature page hereof (each, a “Holder”), in exchange for the aggregate principal amount of the Company’s debt securities (the “Exchanged Notes”) identified on the signature page hereof.
Section 1.  Exchange.  On the terms and subject to the conditions of this Agreement and in reliance upon the representations, warranties and agreements contained herein, each Holder agrees to exchange the Exchange Notes with Company in consideration of and in exchange for the transfer by Company to such Holder of the Shares.  As promptly as reasonably practicable, but in no event later than five business days after the execution of this Agreement, each Holder shall deliver the Exchanged Notes on behalf of Company to Deutsche Bank Trust Company Americas (“Trustee”) by means of the book-entry transfer procedures of The Depositary Trust Company, as depositary for the Notes, or by other due and proper agreements or instruments of transfer reasonably acceptable to Company and its legal counsel.  No adjustment shall be made or Shares issued for interest accrued on any Exchanged Note.  Subject to and upon such delivery of the Exchanged Notes, as promptly as reasonably practicable, but in no event later than five business days after the execution of this Agreement, the Company shall cause (i) the transfer agent for the Common Stock to issue and deliver the Shares through the facilities of The Depository Trust Company to the account of each Holder set forth on the signature page hereof and (ii) cash representing all accrued but unpaid interest in respect of the Exchanged Notes up to but not including the closing date by wire transfer of immediately available funds in accordance with wire instructions delivered in writing to Company by each Holder prior to the closing date. 
Section 2.  Conditions to Closing.    The obligations of Company and each Holder hereunder to consummate the transactions contemplated by this Agreement are subject to the satisfaction of each of the following conditions:
(a)    Each of the representations and warranties of Company and each Holder contained in Section 4 and Sections 3 and 5, respectively, of this Agreement shall be true and correct in all material respects on and as of the closing date of the transactions described herein with the same effect as though such representations and warranties had been made on and as of the closing date of the transactions described herein.
(b)    Each of Company and each Holder shall in all material respects have performed, satisfied and complied with all of its respective covenants, agreements and conditions contained in this Agreement that are required to be performed, satisfied or complied with by it on or before the closing date of the transactions described herein.
Section 3.  Representations And Warranties Of Holder.  Each Holder, severally and not jointly, represents and warrants to the Company, as of the date hereof and as of the date of delivery of the Exchanged Notes that:
(a)    Such Holder is duly organized, validly existing and in good standing in its jurisdiction of organization and the execution, delivery and performance by such Holder of this Agreement, and the consummation of the transactions contemplated hereby, are within the powers of such Holder and have been or will have been duly authorized by all necessary action on the part of such Holder, and this 

Agreement constitutes a valid and binding agreement of such Holder, enforceable in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other laws of general application affecting enforcement or creditors’ rights generally or (ii) as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies.
(b)    The execution, delivery and performance by such Holder of this Agreement and the consummation of the transactions contemplated hereby require no order, license, consent, authorization or approval of, or exemption by, or action by or in respect of, or notice to, or filing or registration with, any governmental body, agency or official on the part of Holder.
(c)    The execution, delivery and performance by such Holder and Company of this Agreement, and the consummation of the transactions contemplated by this Agreement, do not and will not (i) violate the certificate of incorporation (or similar constituent document) or bylaws of such Holder, (ii) violate any material agreement to which such Holder is a party or by which such Holder or any of its property or assets is bound, or (iii) violate any law, rule, regulation, judgment, injunction, order or decree applicable to such Holder.
(d)    Such Holder has good and valid title to the Exchanged Notes and owns and holds the entire legal and beneficial right, title, and interest in and to the Exchanged Notes (including, without limitation, accrued and unpaid interest thereon), free and clear of any liens, claims or encumbrances (other than those arising as a result of this Agreement) and the Exchanged Notes are not subject to any contract, agreement, arrangement, commitment or understanding restricting or otherwise relating to the disposition of the Exchanged Notes; good and valid title to the Exchanged Notes (including, without limitation, accrued and unpaid interest thereon) will pass to the Company upon consummation of the transaction contemplated hereby and all claims of such Holder relating to the Exchanged Notes, including any accrued and unpaid interest thereon, shall be released.   

(e)    Such Holder has such knowledge, sophistication and experience in financial and business matters as to be capable of evaluating the merits and risks of an investment in the Shares. Such Holder acknowledges that it understands the risks inherent in an investment in the Shares and that it has the financial ability to bear the economic risk of, and to afford the entire loss of, its investment in the Shares.

(f)    Such Holder has made its own independent inquiry as to the legal, tax and accounting aspects of the transactions contemplated by this Agreement, and such Holder has not relied on Company, Company's legal counsel or Company's accounting or financial advisors for legal, tax or accounting advice in connection with the transactions contemplated by this Agreement.  Such Holder has had such opportunity as it has deemed adequate to obtain from Company such public information as is necessary to permit such Holder to evaluate the merits and risks of the transactions contemplated hereby.

(g)    Such Holder acknowledges that (i) it has reviewed Company's filings with the Securities and Exchange Commission (the “SEC”) and (ii) it is relying only upon the information contained in the Company's filings with the SEC and the representations and warranties of Company in this Agreement and not upon any other information.

(h)    Such Holder acknowledges that Company is in possession of non-public information (the "Non-Public Information").  The Non-Public Information may (or may not) be considered material by such Holder with respect to the exchange of its Exchanged Notes for the Shares.  Such Holder has determined that it is in such Holder's best interests to effectuate and close the exchange of Exchanged Notes for the Shares without Company's disclosure to such Holder, and without such Holder's knowledge of, the Non-Public Information. Such Holder has actual knowledge that it may presently have and may 

have at or after the time of the closing date of the transactions described herein, claims against Company and Company's directors, officers, employees, agents, attorneys, representatives, affiliates, predecessors, successors and assigns, arising from Company's nondisclosure of the Non-Public Information in connection with the transactions contemplated by this Agreement.  As partial consideration for the transactions contemplated by this Agreement, such Holder hereby, on its behalf and on behalf of any and all of its directors, officers, employees, agents, attorneys, representatives, limited partners or other investors, affiliates, predecessors, successors and assigns, unconditionally, irrevocably and absolutely releases and discharges Company and its directors, officers, employees, agents, attorneys, representatives, affiliates, predecessors, successors and assigns from any and all causes of action, claims, demands, damages or liabilities whatsoever, both in law and in equity, in contract, tort or otherwise, which they may now have or may have at or after the closing date of the transactions described herein arising from Company's nondisclosure of the Non-Public Information in connection with the transactions contemplated by this Agreement, in each case to the maximum extent permitted by law.

(i)    Such Holder covenants that neither it nor any person acting on behalf of or pursuant to any understanding with it will engage in any transactions in the securities of Company (including "short sales," as defined in Rule 200 of Regulation SHO under the Securities Exchange Act of 1934, as amended (the "Exchange Act")) prior to the time that the transactions contemplated by this Agreement are publicly disclosed by Company, and represents that no such person has engaged in such a short sale of, or stock pledge, forward sale or other transaction or arrangement with an effect similar to such a short sale with respect to, Company Common Stock from the date the parties commenced the negotiations leading to the execution of this Agreement and the date hereof. Such Holder has maintained, and covenants that until such time as the transactions contemplated by this Agreement are publicly disclosed by Company such Holder will maintain, the confidentiality of any disclosures made to it in connection with this transaction (including the existence and terms of this transaction).

(j)    There is no investment banker, broker, finder or other intermediary which has been retained by, will be retained by or is authorized to act on behalf of such Holder who might be entitled to any fee or commission from Company or such Holder upon consummation of the transactions contemplated by this Agreement.
Section 4.  Representations And Warranties Of Company.  Company represents and warrants to each Holder, as of the date hereof and as of the date of delivery of the Shares, that:
(a)    The Company is duly organized, validly existing and in good standing in the State of Delaware and the execution, delivery and performance by Company of this Agreement, and the consummation of the transactions contemplated hereby, are within the powers of Company and have been or will have been duly authorized by all necessary action on the part of Company, and this Agreement constitutes a valid and binding agreement of Company, enforceable in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other laws of general application affecting enforcement or creditors’ rights generally or (ii) as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies.
(b)    The execution, delivery and performance by Company of this Agreement and the consummation of the transactions contemplated hereby require no order, license, consent, authorization or approval of, or exemption by, or action by or in respect of, or notice to, or filing or registration with, any governmental body, agency or official on the part of Company except such consents, approvals, authorizations, filings or registrations (x) as are specifically contemplated by this Agreement or (y) required by applicable law or other regulatory authority.

(c)    The execution, delivery and performance by each Holder and Company of this Agreement, and the consummation of the transactions contemplated by this Agreement, do not and will not (i) violate the amended and restated certificate of incorporation or amended and restated bylaws of Company, (ii) violate any material agreement to which Company is a party or by which Company or any of its property or assets is bound, or (iii) violate any material law, rule, regulation, judgment, injunction, order or decree applicable to Company.
(d)    The Shares, when issued in exchange for the Exchanged Notes in accordance with this Agreement, will be duly and validly authorized and issued, fully-paid and non-assessable, free and clear of all encumbrances, liens, equities or claims.  On or before the date of issuance of the Shares, the Shares shall have been authorized for listing on the New York Stock Exchange. The Shares will be freely tradeable and will be fungible in all respects with the Company’s existing shares of Common Stock and will not contain any restrictive legends.
(e)    There is no investment banker, broker, finder or other intermediary which has been retained by, will be retained by or is authorized to act on behalf of Company who would be entitled to any fee or commission from Company or each Holder for soliciting the exchange upon consummation of the transactions contemplated by this Agreement.
Section 5.  Exempt Transaction.  (a) Each Holder understands that the exchange of the Exchanged Notes for the Shares hereby is intended to be exempt from registration under Section 3(a)(9) of the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder (the “Securities Act”), which exemption depends upon, among other things, the accuracy of the such Holder’s representations expressed herein, and such Holder is not aware of any reason why such exemption is not available.
(b)    Each Holder represents and warrants to Company that it did not purchase the Exchanged Notes with a view to, or for sale in connection with, any distribution of the Shares issuable upon exchange of the Exchanged Notes.
(c)    Each Holder represents and warrants to Company that (i) to the knowledge of such Holder, no commission or other remuneration has been or will be paid or given, directly or indirectly, for soliciting the transactions contemplated hereby and (ii) Company did not, and to the knowledge of such Holder, no person acting on behalf of Company did, solicit such Holder with respect to this disposition of the Exchanged Notes.
(d)    Each Holder represents and warrants to Company that the Exchanged Notes do not constitute “restricted securities” as defined in Rule 144(a)(3) under the Securities Act. 
(e)     Each Holder understands that the Shares have not been registered under the Securities Act, and are being issued hereunder in reliance upon a specific exemption from the registration provisions of the Securities Act afforded by Section 3(a)(9) of the Securities Act.  Under current interpretations of the SEC, securities that are obtained in a Section 3(a)(9) exchange assume the same character (i.e., restricted or unrestricted) as the securities that have been surrendered.  To the extent that the Exchanged Notes are unrestricted securities, the Shares will be unrestricted securities. 

(f)    Each Holder represents and warrants to Company that such Holder is not, as of the date hereof, and was not at any time during the three-month period preceding the date hereof, a director or executive officer of the Company or a subsidiary of the Company, a beneficial owner of 5% or more of 

the Common Stock, a holder of 5% or more of the voting power outstanding of the Company, or an affiliate of such director, executive officer, beneficial owner or holder.
Section 6.  Notices.  All notices, requests and other communications to any party hereunder shall be in writing (including electronic mail) and shall be given,  
if to a Holder, as indicated on the signature page hereto,
if to Company to:

Bill Barrett Corporation
1099 18th Street, Suite 2300
Denver, Colorado 80202
Attention: 
William M. Crawford (bcrawford@billbarrettcorp.com)
Kenneth A. Wonstolen (kwonstolen@billbarrettcorp.com)

with a copy to:

Davis Graham & Stubbs LLP
1550 17th Street, Suite 500
Denver, Colorado 80202
Attention: 
John Elofson (john.elofson@dgslaw.com)
Elizabeth Vonne (elizabeth.vonne@dgslaw.com)

or to such other address and with such other copies as such party may hereafter specify for the purpose of notice.  All such notices, requests and other communications shall be deemed received on the date of receipt by the recipient thereof if received prior to 5 p.m. in the place of receipt and such day is a business day in the place of receipt.  Otherwise, any such notice, request or communication shall be deemed not to have been received until the next succeeding business day in the place of receipt.

Section 7. Confidentiality.  Each of Company and each Holder represents that it has not disclosed any information regarding discussions relating to this Agreement except to its advisors and representatives who have a need to know such information and are subject to requirements not to disclose any such information. Except as may be required by applicable law or regulatory requirement, neither Company nor any Holder shall disclose the existence or terms of this Agreement or any of the provisions contained herein without the prior written consent of the other until the earlier of (x) the closing date of the transactions described herein or (y) five business days after the date of this Agreement; provided, however, that nothing contained herein shall prevent any party from promptly making all filings with any governmental entity or supervisory body (including, without limitation, Company’s ongoing reporting obligations under the Exchange Act, including Item 3.02 of Form 8-K) or disclosures with the stock exchange, if any, on which such party’s capital stock is listed, as may, in its judgment, be required in connection with the execution and delivery of this Agreement or the consummation of the transactions contemplated hereby. Company will file a Form 8-K promptly upon execution of this Agreement.  Company shall provide each Holder a draft of the Form 8-K in advance of such filing to give each Holder a reasonable amount of time to review and comment on the Form 8-K and shall consider any such comments in good faith.  

Section 8.  Amendments and Waivers.  Any provision of this Agreement may be amended or waived if, but only if, such amendment or waiver is in writing and is signed, in the case of an amendment, by each party to this Agreement, or in the case of a waiver, by the party against whom the waiver is to be effective.  No failure or delay by any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by law.    

Section 9.  Expenses.  All costs and expenses incurred in connection with this Agreement shall be paid by the party incurring such cost or expense.    

Section 10.  Successors and Assigns.  The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns; provided that no party may assign, delegate or otherwise transfer any of its rights or obligations under this Agreement without the consent of each other party hereto.     

Section 11.  Governing Law.  This Agreement shall be governed by and construed in accordance with the law of the State of New York.    

Section 12.  Jurisdiction; WAIVER OF JURY TRIAL.  Each of the parties hereto (a) consents to submit itself to the personal jurisdiction of any Federal or state court located in the Borough of Manhattan in The City of New York, New York in the event any dispute arises out of this Agreement, (b) agrees that it will not attempt to deny or defeat such personal jurisdiction by motion or other request for leave from any such court and (c) agrees that it will not bring any action relating to this Agreement in any court other than a Federal or state court located in the Borough of Manhattan in The City of New York, New York.  EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.    

Section 13.  Counterparts; Third Party Beneficiaries.  This Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.  This Agreement shall become effective when each party hereto shall have received a counterpart hereof signed by the other party hereto.  No provision of this Agreement shall confer upon any person other than the parties hereto any rights or remedies hereunder.    

Section 14.  Entire Agreement.  This Agreement constitutes the entire agreement between the parties with respect to the subject matter of this Agreement and supersedes all prior agreements and understandings, both oral and written, between the parties with respect to the subject matter of this Agreement.

Section 15.  Captions.  The captions herein are included for convenience of reference only and shall be ignored in the construction or interpretation hereof.
    
Section 16.  Severability.  If one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision shall be excluded from this Agreement and the balance of this Agreement shall be interpreted as if such provision were so excluded and shall be enforced in accordance with its terms to the maximum extent permitted by law.

[Signature Page Follows]

If the foregoing is acceptable to you, please acknowledge your agreement by signing below in the space provided for your signature and returning an original copy hereof.

DATE: __31 May 2016_____

BILL BARRETT CORPORATION

By:  ________________________________        
Name:    William M. Crawford
Title:     SVP-Treasury and Finance

THE FOREGOING IS AGREED TO
AND ACKNOWLEDGED BY: 

Franklin Income Fund
By:  Franklin Advisers, Inc., as investment adviser

____________________________________    
Name:  Edward Perks    
Title:    E.V.P., Portfolio Manager

Address for Notices to Holder pursuant to Section 6:
One Franklin Parkway
San Mateo, CA 94403
Fax:  650-525-7206
Attention: Ed Perks and Christopher Chen

Title of debt securities (“Exchange Notes”):  
CUSIP:   06846NAC8

Holder:  Franklin Custodian Funds - Franklin Income Fund

Principal amount of Exchange Notes:    $84,700,000

Number of shares of Common Stock to be issued in exchange:  10,000,000

Accrued but unpaid interest up to but not including the closing date, assuming a closing date of June 3, 2016: $1,094,335.76Exhibit

Exhibit 10.3

TRT LeaseCo, LLC
4.07% Senior Secured Note, Due May 15, 2034
No. R-                                                      March 12, 2015
$182,666,908.56
TRT LeaseCo, LLC, a limited liability company organized under the laws of the State of Delaware (the “Company”), for value received, hereby promises to pay to or to the order of Wells Fargo Bank Northwest, N.A., as trustee or registered assigns, the principal amount of One Hundred Eighty-Two Million Six Hundred Sixty-Six Thousand Nine Hundred Eight and 56/100 Dollars ($182,666,908.56) together with interest from the date hereof until maturity at the rate of 4.07% per annum (computed on the basis of a 360-day year of 12 consecutive 30-day months) in installments as provided in the amortization schedule attached hereto as Annex I.  The Company further promises to pay interest at the rate of 6.07% per annum (i) on each overdue installment of principal, premium, if any, and (to the extent legally enforceable) upon each overdue installment of interest in each case from and after the due date of each such installment, whether by acceleration or otherwise, until paid and (ii) during the continuance of an Event of Default, on the unpaid balance hereof and on any overdue payment of any Make-Whole Amount.  Payments of principal, premium, if any, and interest shall be made in such coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and private debts by check mailed and addressed to the holder hereof at the address set forth on page 1 of the Note Purchase Agreement described below, or, at the option of the holder hereof, in such manner and at such other place in the United States of America as the holder hereof shall have designated to the Company in writing.  
This Note is issued under and pursuant to the terms and provisions of the Note Purchase Agreement dated as of March 12, 2015 (the “Note Purchase Agreement”) entered into by the Company with Wells Fargo Bank Northwest, N.A., as trustee (the “Purchaser”) and secured by (i) the Deed of Trust, Security Agreement, Assignment of Leases and Rents and Fixture Filing Statement dated as of March 12, 2015 (the “Deed of Trust”) from the Company for the benefit of the Purchaser in respect of the Granted Property described therein and the Lease dated June 1, 2014 between the Company, as landlord, and BNSF Railway Company, a corporation organized under the laws of the State of Delaware, as tenant, (ii) the Assignment of Leases and Rents dated as of March 12, 2015 from the Company to the Purchaser.  This Note and the holder hereof are entitled to all the benefits provided for by the Note Purchase Agreement, the Assignment of Leases and Rents and the Deed of Trust, to which Note Purchase Agreement, the Assignment of Leases and Rents and Deed of Trust reference is hereby made for the statement thereof, including a description of the Granted Property (as defined in the Deed of Trust), the nature and extent of the security and the rights of the holder of the Note and of the Company in respect thereof.  Capitalized terms not otherwise defined herein shall have the respective meanings ascribed thereto in the Deed of Trust.  This Note shall be governed by and construed in accordance with the laws of the State of New York.  This Note is subject to the usury savings clause set forth in Addendum A to the Deed of Trust.  This Note may be defeased prior to its expressed maturity date pursuant to the terms and conditions set forth in the Defeasance Rider attached hereto as Annex II.
This Note may be declared due prior to its expressed maturity date, voluntary prepayments may be made thereon by the Company and certain prepayments are required to be made thereon, all in the events, on the terms and in the manner and amounts as provided in the Deed of Trust.

	
			
	 
	 
	TRT LeaseCO, LLC, a Delaware

	 
	 
	limited liability company

	 
	 
	 

	 
	 
	 

	 
	By:
	 

	 
	 
	Name:  Leo S. Schwartz

	 
	 
	Title:  Vice President

Exhibit 10.3

ANNEX I

AMORTIZATION SCHEDULE

See attached.

Exhibit 10.3

Senior Note
	
								
	Settlement Date:
	 
	3/12/2015
	 
	Final Maturity:
	 
	5/15/2034
	

	Monthly Coupon:
	 
	4.07%
	 
	Term (months):
	 
	230
	

	
																			
	Payment Date
	Rent
	Trustee Fee
	Payment
	Principal
	Interest
	O/S Principal Balance

	 
	 
	 
	 
	 
	 
	$
	182,666,908.56
	

	3/15/2015
	 
	 
	$
	61,954.53
	

	 
	$
	61,954.53
	

	$
	182,666,908.56
	

	4/15/2015
	$
	777,280.00
	

	$
	500.00
	

	$
	776,780.00
	

	$
	157,234.74
	

	$
	619,545.26
	

	$
	182,509,673.82
	

	5/15/2015
	$
	777,280.00
	

	$
	500.00
	

	$
	776,780.00
	

	$
	157,768.02
	

	$
	619,011.98
	

	$
	182,351,905.80
	

	6/15/2015
	$
	794,768.80
	

	$
	500.00
	

	$
	794,268.80
	

	$
	175,791.92
	

	$
	618,476.88
	

	$
	182,176,113.88
	

	7/15/2015
	$
	794,768.80
	

	$
	500.00
	

	$
	794,268.80
	

	$
	176,388.15
	

	$
	617,880.65
	

	$
	181,999,725.73
	

	8/15/2015
	$
	794,768.80
	

	$
	500.00
	

	$
	794,268.80
	

	$
	176,986.40
	

	$
	617,282.40
	

	$
	181,822,739.33
	

	9/15/2015
	$
	794,768.80
	

	$
	500.00
	

	$
	794,268.80
	

	$
	177,586.68
	

	$
	616,682.12
	

	$
	181,645,152.65
	

	10/15/2015
	$
	794,768.80
	

	$
	500.00
	

	$
	794,268.80
	

	$
	178,188.99
	

	$
	616,079.81
	

	$
	181,466,963.66
	

	11/15/2015
	$
	794,768.80
	

	$
	500.00
	

	$
	794,268.80
	

	$
	178,793.35
	

	$
	615,475.45
	

	$
	181,288,170.31
	

	12/15/2015
	$
	794,768.80
	

	$
	500.00
	

	$
	794,268.80
	

	$
	179,399.76
	

	$
	614,869.04
	

	$
	181,108,770.55
	

	1/15/2016
	$
	794,768.80
	

	$
	500.00
	

	$
	794,268.80
	

	$
	180,008.22
	

	$
	614,260.58
	

	$
	180,928,762.33
	

	2/15/2016
	$
	794,768.80
	

	$
	500.00
	

	$
	794,268.80
	

	$
	180,618.75
	

	$
	613,650.05
	

	$
	180,748,143.58
	

	3/15/2016
	$
	794,768.80
	

	$
	500.00
	

	$
	794,268.80
	

	$
	181,231.35
	

	$
	613,037.45
	

	$
	180,566,912.23
	

	4/15/2016
	$
	794,768.80
	

	$
	500.00
	

	$
	794,268.80
	

	$
	181,846.02
	

	$
	612,422.78
	

	$
	180,385,066.21
	

	5/15/2016
	$
	794,768.80
	

	$
	500.00
	

	$
	794,268.80
	

	$
	182,462.78
	

	$
	611,806.02
	

	$
	180,202,603.43
	

	6/15/2016
	$
	812,651.10
	

	$
	500.00
	

	$
	812,151.10
	

	$
	200,963.94
	

	$
	611,187.16
	

	$
	180,001,639.49
	

	7/15/2016
	$
	812,651.10
	

	$
	500.00
	

	$
	812,151.10
	

	$
	201,645.54
	

	$
	610,505.56
	

	$
	179,799,993.95
	

	8/15/2016
	$
	812,651.10
	

	$
	500.00
	

	$
	812,151.10
	

	$
	202,329.45
	

	$
	609,821.65
	

	$
	179,597,664.50
	

	9/15/2016
	$
	812,651.10
	

	$
	500.00
	

	$
	812,151.10
	

	$
	203,015.69
	

	$
	609,135.41
	

	$
	179,394,648.81
	

	10/15/2016
	$
	812,651.10
	

	$
	500.00
	

	$
	812,151.10
	

	$
	203,704.25
	

	$
	608,446.85
	

	$
	179,190,944.56
	

	11/15/2016
	$
	812,651.10
	

	$
	500.00
	

	$
	812,151.10
	

	$
	204,395.15
	

	$
	607,755.95
	

	$
	178,986,549.41
	

	12/15/2016
	$
	812,651.10
	

	$
	500.00
	

	$
	812,151.10
	

	$
	205,088.39
	

	$
	607,062.71
	

	$
	178,781,461.02
	

	1/15/2017
	$
	812,651.10
	

	$
	500.00
	

	$
	812,151.10
	

	$
	205,783.98
	

	$
	606,367.12
	

	$
	178,575,677.04
	

	2/15/2017
	$
	812,651.10
	

	$
	500.00
	

	$
	812,151.10
	

	$
	206,481.93
	

	$
	605,669.17
	

	$
	178,369,195.11
	

	3/15/2017
	$
	812,651.10
	

	$
	500.00
	

	$
	812,151.10
	

	$
	207,182.25
	

	$
	604,968.85
	

	$
	178,162,012.86
	

	4/15/2017
	$
	812,651.10
	

	$
	500.00
	

	$
	812,151.10
	

	$
	207,884.94
	

	$
	604,266.16
	

	$
	177,954,127.92
	

	5/15/2017
	$
	812,651.10
	

	$
	500.00
	

	$
	812,151.10
	

	$
	208,590.02
	

	$
	603,561.08
	

	$
	177,745,537.90
	

	6/15/2017
	$
	830,935.75
	

	$
	500.00
	

	$
	830,435.75
	

	$
	227,582.13
	

	$
	602,853.62
	

	$
	177,517,955.77
	

	7/15/2017
	$
	830,935.75
	

	$
	500.00
	

	$
	830,435.75
	

	$
	228,354.02
	

	$
	602,081.73
	

	$
	177,289,601.75
	

	8/15/2017
	$
	830,935.75
	

	$
	500.00
	

	$
	830,435.75
	

	$
	229,128.52
	

	$
	601,307.23
	

	$
	177,060,473.23
	

	9/15/2017
	$
	830,935.75
	

	$
	500.00
	

	$
	830,435.75
	

	$
	229,905.64
	

	$
	600,530.11
	

	$
	176,830,567.59
	

	10/15/2017
	$
	830,935.75
	

	$
	500.00
	

	$
	830,435.75
	

	$
	230,685.41
	

	$
	599,750.34
	

	$
	176,599,882.18
	

	11/15/2017
	$
	830,935.75
	

	$
	500.00
	

	$
	830,435.75
	

	$
	231,467.82
	

	$
	598,967.93
	

	$
	176,368,414.36
	

	12/15/2017
	$
	830,935.75
	

	$
	500.00
	

	$
	830,435.75
	

	$
	232,252.88
	

	$
	598,182.87
	

	$
	176,136,161.48
	

	1/15/2018
	$
	830,935.75
	

	$
	500.00
	

	$
	830,435.75
	

	$
	233,040.60
	

	$
	597,395.15
	

	$
	175,903,120.88
	

Exhibit 10.3

	
																			
	Payment Date
	Rent
	Trustee Fee
	Payment
	Principal
	Interest
	O/S Principal Balance

	2/15/2018
	$
	830,935.75
	

	$
	500.00
	

	$
	830,435.75
	

	$
	233,831.00
	

	$
	596,604.75
	

	$
	175,669,289.88
	

	3/15/2018
	$
	830,935.75
	

	$
	500.00
	

	$
	830,435.75
	

	$
	234,624.08
	

	$
	595,811.67
	

	$
	175,434,665.80
	

	4/15/2018
	$
	830,935.75
	

	$
	500.00
	

	$
	830,435.75
	

	$
	235,419.84
	

	$
	595,015.91
	

	$
	175,199,245.96
	

	5/15/2018
	$
	830,935.75
	

	$
	500.00
	

	$
	830,435.75
	

	$
	236,218.31
	

	$
	594,217.44
	

	$
	174,963,027.65
	

	6/15/2018
	$
	849,631.80
	

	$
	500.00
	

	$
	849,131.80
	

	$
	255,715.53
	

	$
	593,416.27
	

	$
	174,707,312.12
	

	7/15/2018
	$
	849,631.80
	

	$
	500.00
	

	$
	849,131.80
	

	$
	256,582.83
	

	$
	592,548.97
	

	$
	174,450,729.29
	

	8/15/2018
	$
	849,631.80
	

	$
	500.00
	

	$
	849,131.80
	

	$
	257,453.08
	

	$
	591,678.72
	

	$
	174,193,276.21
	

	9/15/2018
	$
	849,631.80
	

	$
	500.00
	

	$
	849,131.80
	

	$
	258,326.27
	

	$
	590,805.53
	

	$
	173,934,949.94
	

	10/15/2018
	$
	849,631.80
	

	$
	500.00
	

	$
	849,131.80
	

	$
	259,202.43
	

	$
	589,929.37
	

	$
	173,675,747.51
	

	11/15/2018
	$
	849,631.80
	

	$
	500.00
	

	$
	849,131.80
	

	$
	260,081.56
	

	$
	589,050.24
	

	$
	173,415,665.95
	

	12/15/2018
	$
	849,631.80
	

	$
	500.00
	

	$
	849,131.80
	

	$
	260,963.67
	

	$
	588,168.13
	

	$
	173,154,702.28
	

	1/15/2019
	$
	849,631.80
	

	$
	500.00
	

	$
	849,131.80
	

	$
	261,848.77
	

	$
	587,283.03
	

	$
	172,892,853.51
	

	2/15/2019
	$
	849,631.80
	

	$
	500.00
	

	$
	849,131.80
	

	$
	262,736.87
	

	$
	586,394.93
	

	$
	172,630,116.64
	

	3/15/2019
	$
	849,631.80
	

	$
	500.00
	

	$
	849,131.80
	

	$
	263,627.99
	

	$
	585,503.81
	

	$
	172,366,488.65
	

	4/15/2019
	$
	849,631.80
	

	$
	500.00
	

	$
	849,131.80
	

	$
	264,522.13
	

	$
	584,609.67
	

	$
	172,101,966.52
	

	5/15/2019
	$
	849,631.80
	

	$
	500.00
	

	$
	849,131.80
	

	$
	265,419.30
	

	$
	583,712.50
	

	$
	171,836,547.22
	

	6/15/2019
	$
	868,748.52
	

	$
	500.00
	

	$
	868,248.52
	

	$
	285,436.23
	

	$
	582,812.29
	

	$
	171,551,110.99
	

	7/15/2019
	$
	868,748.52
	

	$
	500.00
	

	$
	868,248.52
	

	$
	286,404.34
	

	$
	581,844.18
	

	$
	171,264,706.65
	

	8/15/2019
	$
	868,748.52
	

	$
	500.00
	

	$
	868,248.52
	

	$
	287,375.72
	

	$
	580,872.80
	

	$
	170,977,330.93
	

	9/15/2019
	$
	868,748.52
	

	$
	500.00
	

	$
	868,248.52
	

	$
	288,350.41
	

	$
	579,898.11
	

	$
	170,688,980.52
	

	10/15/2019
	$
	868,748.52
	

	$
	500.00
	

	$
	868,248.52
	

	$
	289,328.39
	

	$
	578,920.13
	

	$
	170,399,652.13
	

	11/15/2019
	$
	868,748.52
	

	$
	500.00
	

	$
	868,248.52
	

	$
	290,309.70
	

	$
	577,938.82
	

	$
	170,109,342.43
	

	12/15/2019
	$
	868,748.52
	

	$
	500.00
	

	$
	868,248.52
	

	$
	291,294.33
	

	$
	576,954.19
	

	$
	169,818,048.10
	

	1/15/2020
	$
	868,748.52
	

	$
	500.00
	

	$
	868,248.52
	

	$
	292,282.31
	

	$
	575,966.21
	

	$
	169,525,765.79
	

	2/15/2020
	$
	868,748.52
	

	$
	500.00
	

	$
	868,248.52
	

	$
	293,273.63
	

	$
	574,974.89
	

	$
	169,232,492.16
	

	3/15/2020
	$
	868,748.52
	

	$
	500.00
	

	$
	868,248.52
	

	$
	294,268.32
	

	$
	573,980.20
	

	$
	168,938,223.84
	

	4/15/2020
	$
	868,748.52
	

	$
	500.00
	

	$
	868,248.52
	

	$
	295,266.38
	

	$
	572,982.14
	

	$
	168,642,957.46
	

	5/15/2020
	$
	868,148.52
	

	$
	500.00
	

	$
	868,248.52
	

	$
	296,267.82
	

	$
	571,980.70
	

	$
	168,346,689.64
	

	6/15/2020
	$
	888,295.36
	

	$
	500.00
	

	$
	887,795.36
	

	$
	316,819.50
	

	$
	570,975.86
	

	$
	168,029,870.14
	

	7/15/2020
	$
	888,295.36
	

	$
	500.00
	

	$
	887,795.36
	

	$
	317,894.05
	

	$
	569,901.31
	

	$
	167,711,976.09
	

	8/15/2020
	$
	888,295.36
	

	$
	500.00
	

	$
	887,795.36
	

	$
	318,972.24
	

	$
	568,823.12
	

	$
	167,393,003.85
	

	9/15/2020
	$
	888,295.36
	

	$
	500.00
	

	$
	887,795.36
	

	$
	320,054.09
	

	$
	567,741.27
	

	$
	167,072,949.76
	

	9/15/2021
	$
	908,282.01
	

	$
	500.00
	

	$
	907,782.01
	

	$
	353,516.76
	

	$
	554,265.25
	

	$
	163,066,214.17
	

Exhibit 10.3

	
																			
	Payment Date
	Rent
	Trustee Fee
	Payment
	Principal
	Interest
	O/S Principal Balance

	10/15/2021
	$
	908,282.01
	

	$
	500.00
	

	$
	907,782.01
	

	$
	354,715.77
	

	$
	553,066.24
	

	$
	162,711,498.40
	

	11/15/2021
	$
	908,282.01
	

	$
	500.00
	

	$
	907,782.01
	

	$
	355,918.84
	

	$
	551,863.17
	

	$
	162,355,579.56
	

	12/15/2021
	$
	908,282.01
	

	$
	500.00
	

	$
	907,782.01
	

	$
	357,126.00
	

	$
	550,656.01
	

	$
	161,998,453.56
	

	1/15/2022
	$
	908,282.01
	

	$
	500.00
	

	$
	907,782.01
	

	$
	358,337.26
	

	$
	549,444.75
	

	$
	161,640,116.30
	

	2/15/2022
	$
	908,282.01
	

	$
	500.00
	

	$
	907,782.01
	

	$
	359,552.62
	

	$
	548,229.39
	

	$
	161,280,563.68
	

	3/15/2022
	$
	908,282.01
	

	$
	500.00
	

	$
	907,782.01
	

	$
	360,772.10
	

	$
	547,009.91
	

	$
	160,919,791.58
	

	4/15/2022
	$
	908,282.01
	

	$
	500.00
	

	$
	907,782.01
	

	$
	361,995.72
	

	$
	545,786.29
	

	$
	160,557,795.86
	

	5/15/2022
	$
	908,282.01
	

	$
	500.00
	

	$
	907,782.01
	

	$
	363,223.49
	

	$
	544,558.52
	

	$
	160,194,572.37
	

	6/15/2022
	$
	928,718.36
	

	$
	500.00
	

	$
	928,218.36
	

	$
	384,891.77
	

	$
	543,326.59
	

	$
	159,809,680.60
	

	7/15/2022
	$
	928,718.36
	

	$
	500.00
	

	$
	928,218.36
	

	$
	386,197.19
	

	$
	542,021.17
	

	$
	159,423,483.41
	

	8/15/2022
	$
	928,718.36
	

	$
	500.00
	

	$
	928,218.36
	

	$
	387,507.05
	

	$
	540,711.31
	

	$
	159,035,976.36
	

	9/15/2022
	$
	928,718.36
	

	$
	500.00
	

	$
	928,218.36
	

	$
	388,821.34
	

	$
	539,397.02
	

	$
	158,647,155.02
	

	10/15/2022
	$
	928,718.36
	

	$
	500.00
	

	$
	928,218.36
	

	$
	390,140.09
	

	$
	538,078.27
	

	$
	158,257,014.93
	

	11/15/2022
	$
	928,718.36
	

	$
	500.00
	

	$
	928,218.36
	

	$
	391,463.32
	

	$
	536,755.04
	

	$
	157,865,551.61
	

	12/15/2022
	$
	928,718.36
	

	$
	500.00
	

	$
	928,218.36
	

	$
	392,791.03
	

	$
	535,427.33
	

	$
	157,472,760.58
	

	1/15/2023
	$
	928,718.36
	

	$
	500.00
	

	$
	928,218.36
	

	$
	394,123.25
	

	$
	534,095.11
	

	$
	157,078,637.33
	

	2/15/2023
	$
	928,718.36
	

	$
	500.00
	

	$
	928,218.36
	

	$
	395,459.98
	

	$
	532,758.38
	

	$
	156,683,177.35
	

	3/15/2023
	$
	928,718.36
	

	$
	500.00
	

	$
	928,218.36
	

	$
	396,801.25
	

	$
	531,417.11
	

	$
	156,286,376.10
	

	4/15/2023
	$
	928,718.36
	

	$
	500.00
	

	$
	928,218.36
	

	$
	398,147.07
	

	$
	530,071.29
	

	$
	155,888,229.03
	

	5/15/2023
	$
	928,718.36
	

	$
	500.00
	

	$
	928,218.36
	

	$
	399,497.45
	

	$
	528,720.91
	

	$
	155,488,731.58
	

	6/15/2023
	$
	949,614.52
	

	$
	500.00
	

	$
	949,114.52
	

	$
	421,748.57
	

	$
	527,365.95
	

	$
	155,066,983.01
	

	7/15/2023
	$
	949,614.52
	

	$
	500.00
	

	$
	949,114.52
	

	$
	423,179.00
	

	$
	525,935.52
	

	$
	154,643,804.01
	

	8/15/2023
	$
	949,614.52
	

	$
	500.00
	

	$
	949,114.52
	

	$
	424,614.28
	

	$
	524,500.24
	

	$
	154,219,189.73
	

	9/15/2023
	$
	949,614.52
	

	$
	500.00
	

	$
	949,114.52
	

	$
	426,054.43
	

	$
	523,060.09
	

	$
	153,793,135.30
	

	10/15/2023
	$
	949,614.52
	

	$
	500.00
	

	$
	949,114.52
	

	$
	427,499.47
	

	$
	521,615.05
	

	$
	153,365,635.83
	

	11/15/2023
	$
	949,614.52
	

	$
	500.00
	

	$
	949,114.52
	

	$
	428,949.41
	

	$
	520,165.11
	

	$
	152,936,686.42
	

	12/15/2023
	$
	949,614.52
	

	$
	500.00
	

	$
	949,114.52
	

	$
	430,404.26
	

	$
	518,710.26
	

	$
	152,506,282.16
	

	1/15/2024
	$
	949,614.52
	

	$
	500.00
	

	$
	949,114.52
	

	$
	431,864.05
	

	$
	517,250.47
	

	$
	152,074,418.11
	

	2/15/2024
	$
	949,614.52
	

	$
	500.00
	

	$
	949,114.52
	

	$
	433,328.79
	

	$
	515,785.73
	

	$
	151,641,089.32
	

	3/15/2024
	$
	949,614.52
	

	$
	500.00
	

	$
	949,114.52
	

	$
	434,798.49
	

	$
	514,316.03
	

	$
	151,206,290.83
	

	4/15/2024
	$
	949,614.52
	

	$
	500.00
	

	$
	949,114.52
	

	$
	436,273.18
	

	$
	512,841.34
	

	$
	150,770,017.65
	

	5/15/2024
	$
	949,614.52
	

	$
	500.00
	

	$
	949,114.52
	

	$
	437,752.88
	

	$
	511,361.64
	

	$
	150,332,264.77
	

	6/15/2024
	$
	970,980.85
	

	$
	500.00
	

	$
	970,480.85
	

	$
	460,603.92
	

	$
	509,876.93
	

	$
	149,871,660.85
	

	7/15/2024
	$
	970,980.85
	

	$
	500.00
	

	$
	970,480.85
	

	$
	462,166.13
	

	$
	508,314.72
	

	$
	149,409,494.72
	

	8/15/2024
	$
	970,980.85
	

	$
	500.00
	

	$
	970,480.85
	

	$
	463,733.65
	

	$
	506,747.20
	

	$
	148,945,761.07
	

	9/15/2024
	$
	970,980.85
	

	$
	500.00
	

	$
	970,480.85
	

	$
	465,306.48
	

	$
	505,174.37
	

	$
	148,480,454.59
	

	10/15/2024
	$
	970,980.85
	

	$
	500.00
	

	$
	970,480.85
	

	$
	466,884.64
	

	$
	503,596.21
	

	$
	148,013,569.95
	

	11/15/2024
	$
	970,980.85
	

	$
	500.00
	

	$
	970,480.85
	

	$
	468,468.16
	

	$
	502,012.69
	

	$
	147,545,101.79
	

	12/15/2024
	$
	970,980.85
	

	$
	500.00
	

	$
	970,480.85
	

	$
	470,057.05
	

	$
	500,423.80
	

	$
	147,075,044.74
	

	1/15/2025
	$
	970,980.85
	

	$
	500.00
	

	$
	970,480.85
	

	$
	471,651.32
	

	$
	498,829.53
	

	$
	146,603,393.42
	

	2/15/2025
	$
	970,980.85
	

	$
	500.00
	

	$
	970,480.85
	

	$
	473,251.01
	

	$
	497,229.84
	

	$
	146,130,142.41
	

	3/15/2025
	$
	970,980.85
	

	$
	500.00
	

	$
	970,480.85
	

	$
	474,856.12
	

	$
	495,624.73
	

	$
	145,655,286.29
	

	4/15/2025
	$
	970,980.85
	

	$
	500.00
	

	$
	970,480.85
	

	$
	476,466.67
	

	$
	494,014.18
	

	$
	145,178,819.62
	

	5/15/2025
	$
	970,980.85
	

	$
	500.00
	

	$
	970,480.85
	

	$
	478,082.69
	

	$
	492,398.16
	

	$
	144,700,736.93
	

Exhibit 10.3

	
																			
	Payment Date
	Rent
	Trustee Fee
	Payment
	Principal
	Interest
	O/S Principal Balance

	6/15/2025
	$
	992,827.92
	

	$
	500.00
	

	$
	992,327.92
	

	$
	501,551.25
	

	$
	490,776.67
	

	$
	144,199,185.68
	

	7/15/2025
	$
	992,827.92
	

	$
	500.00
	

	$
	992,327.92
	

	$
	503,252.35
	

	$
	489,075.57
	

	$
	143,695,933.33
	

	8/15/2025
	$
	992,827.92
	

	$
	500.00
	

	$
	992,327.92
	

	$
	504,959.21
	

	$
	487,368.71
	

	$
	143,190,974.12
	

	9/15/2025
	$
	992,827.92
	

	$
	500.00
	

	$
	992,327.92
	

	$
	506,671.87
	

	$
	485,656.05
	

	$
	142,684,302.25
	

	10/15/2025
	$
	992,827.92
	

	$
	500.00
	

	$
	992,327.92
	

	$
	508,390.33
	

	$
	483,937.59
	

	$
	142,175,911.92
	

	11/15/2025
	$
	992,827.92
	

	$
	500.00
	

	$
	992,327.92
	

	$
	510,114.62
	

	$
	482,213.30
	

	$
	141,665,797.30
	

	12/15/2025
	$
	992,827.92
	

	$
	500.00
	

	$
	992,327.92
	

	$
	511,844.76
	

	$
	480,483.16
	

	$
	141,153,952.54
	

	1/15/2026
	$
	992,827.92
	

	$
	500.00
	

	$
	992,327.92
	

	$
	513,580.76
	

	$
	478,747.16
	

	$
	140,640,371.78
	

	2/15/2026
	$
	992,827.92
	

	$
	500.00
	

	$
	992,327.92
	

	$
	515,322.66
	

	$
	477,005.26
	

	$
	140,125,049.12
	

	3/15/2026
	$
	992,827.92
	

	$
	500.00
	

	$
	992,327.92
	

	$
	517,070.46
	

	$
	475,257.46
	

	$
	139,607,978.66
	

	4/15/2026
	$
	992,827.92
	

	$
	500.00
	

	$
	992,327.92
	

	$
	518,824.19
	

	$
	473,503.73
	

	$
	139,089,154.47
	

	5/15/2026
	$
	992,827.92
	

	$
	500.00
	

	$
	992,327.92
	

	$
	520,583.87
	

	$
	471,744.05
	

	$
	138,568,570.60
	

	6/15/2026
	$
	1,015,166.55
	

	$
	500.00
	

	$
	1,014,666.55
	

	$
	544,688.15
	

	$
	469,978.40
	

	$
	138,023,882.45
	

	7/15/2026
	$
	1,015,166.55
	

	$
	500.00
	

	$
	1,014,666.55
	

	$
	546,535.55
	

	$
	468,131.00
	

	$
	137,477,346.90
	

	8/15/2026
	$
	1,015,166.55
	

	$
	500.00
	

	$
	1,014,666.55
	

	$
	548,389.22
	

	$
	466,277.33
	

	$
	136,928,957.68
	

	9/15/2026
	$
	1,015,166.55
	

	$
	500.00
	

	$
	1,014,666.55
	

	$
	550,249.17
	

	$
	464,417.38
	

	$
	136,378,708.51
	

	10/15/2026
	$
	1,015,166.55
	

	$
	500.00
	

	$
	1,014,666.55
	

	$
	552,115.43
	

	$
	462,551.12
	

	$
	135,826,593.08
	

	11/15/2026
	$
	1,015,166.55
	

	$
	500.00
	

	$
	1,014,666.55
	

	$
	553,988.02
	

	$
	460,678.53
	

	$
	135,272,605.06
	

	12/15/2026
	$
	1,015,166.55
	

	$
	500.00
	

	$
	1,014,666.55
	

	$
	555,866.96
	

	$
	458,799.59
	

	$
	134,716,738.10
	

	1/15/2027
	$
	1,015,166.55
	

	$
	500.00
	

	$
	1,014,666.55
	

	$
	557,752.28
	

	$
	456,914.27
	

	$
	134,158,985.82
	

	2/15/2027
	$
	1,015,166.55
	

	$
	500.00
	

	$
	1,014,666.55
	

	$
	559,643.99
	

	$
	455,022.56
	

	$
	133,599,341.83
	

	3/15/2027
	$
	1,015,166.55
	

	$
	500.00
	

	$
	1,014,666.55
	

	$
	561,542.12
	

	$
	453,124.43
	

	$
	133,037,799.71
	

	4/15/2027
	$
	1,015,166.55
	

	$
	500.00
	

	$
	1,014,666.55
	

	$
	563,446.68
	

	$
	451,219.87
	

	$
	132,474,353.03
	

	5/15/2027
	$
	1,015,166.55
	

	$
	500.00
	

	$
	1,014,666.55
	

	$
	565,357.70
	

	$
	449,308.85
	

	$
	131,908,995.33
	

	6/15/2027
	$
	1,038,007.80
	

	$
	500.00
	

	$
	1,037,507.80
	

	$
	590,116.46
	

	$
	447,391.34
	

	$
	131,318,878.87
	

	7/15/2027
	$
	1,038,007.80
	

	$
	500.00
	

	$
	1,037,507.80
	

	$
	592,117.94
	

	$
	445,389.86
	

	$
	130,726,760.93
	

	8/15/2027
	$
	1,038,007.80
	

	$
	500.00
	

	$
	1,037,507.80
	

	$
	594,126.20
	

	$
	443,381.60
	

	$
	130,132,634.73
	

	9/15/2027
	$
	1,038,007.80
	

	$
	500.00
	

	$
	1,037,507.80
	

	$
	596,141.28
	

	$
	441,366.52
	

	$
	129,536,493.45
	

	10/15/2027
	$
	1,038,007.80
	

	$
	500.00
	

	$
	1,037,507.80
	

	$
	598,163.19
	

	$
	439,344.61
	

	$
	128,938,330.26
	

	11/15/2027
	$
	1,038,007.80
	

	$
	500.00
	

	$
	1,037,507.80
	

	$
	600,191.96
	

	$
	437,315.84
	

	$
	128,338,138.30
	

	12/15/2027
	$
	1,038,007.80
	

	$
	500.00
	

	$
	1,037,507.80
	

	$
	602,227.61
	

	$
	435,280.19
	

	$
	127,735,910.69
	

	1/15/2028
	$
	1,038,007.80
	

	$
	500.00
	

	$
	1,037,507.80
	

	$
	604,270.17
	

	$
	433,237.63
	

	$
	127,131,640.52
	

	2/15/2028
	$
	1,038,007.80
	

	$
	500.00
	

	$
	1,037,507.80
	

	$
	606,319.65
	

	$
	431,188.15
	

	$
	126,525,320.87
	

	3/15/2028
	$
	1,038,007.80
	

	$
	500.00
	

	$
	1,037,507.80
	

	$
	608,376.09
	

	$
	429,131.71
	

	$
	125,916,944.78
	

	4/15/2028
	$
	1,038,007.80
	

	$
	500.00
	

	$
	1,037,507.80
	

	$
	610,439.50
	

	$
	427,068.30
	

	$
	125,306,505.28
	

	5/15/2028
	$
	1,038,007.80
	

	$
	500.00
	

	$
	1,037,507.80
	

	$
	612,509.90
	

	$
	424,997.90
	

	$
	124,693,995.38
	

	6/15/2028
	$
	1,061,362.98
	

	$
	500.00
	

	$
	1,060,862.98
	

	$
	637,942.51
	

	$
	422,920.47
	

	$
	124,056,052.87
	

	7/15/2028
	$
	1,061,362.98
	

	$
	500.00
	

	$
	1,060,862.98
	

	$
	640,106.20
	

	$
	420,756.78
	

	$
	123,415,946.67
	

	8/15/2028
	$
	1,061,362.98
	

	$
	500.00
	

	$
	1,060,862.98
	

	$
	642,277.23
	

	$
	418,585.75
	

	$
	122,773,669.44
	

	9/15/2028
	$
	1,061,362.98
	

	$
	500.00
	

	$
	1,060,862.98
	

	$
	644,455.62
	

	$
	416,407.36
	

	$
	122,129,213.82
	

	10/15/2028
	$
	1,061,362.98
	

	$
	500.00
	

	$
	1,060,862.98
	

	$
	646,641.40
	

	$
	414,221.58
	

	$
	121,482,572.42
	

	11/15/2028
	$
	1,061,362.98
	

	$
	500.00
	

	$
	1,060,862.98
	

	$
	648,834.59
	

	$
	412,028.39
	

	$
	120,833,737.83
	

	12/15/2028
	$
	1,061,362.98
	

	$
	500.00
	

	$
	1,060,862.98
	

	$
	651,035.22
	

	$
	409,827.76
	

	$
	120,182,702.61
	

	1/15/2029
	$
	1,061,362.98
	

	$
	500.00
	

	$
	1,060,862.98
	

	$
	653,243.31
	

	$
	407,619.67
	

	$
	119,529,459.30
	

Exhibit 10.3

	
																			
	Payment Date
	Rent
	Trustee Fee
	Payment
	Principal
	Interest
	O/S Principal Balance

	2/15/2029
	$
	1,061,362.98
	

	$
	500.00
	

	$
	1,060,862.98
	

	$
	655,458.90
	

	$
	405,404.08
	

	$
	118,874,000.40
	

	3/15/2029
	$
	1,061,362.98
	

	$
	500.00
	

	$
	1,060,862.98
	

	$
	657,682.00
	

	$
	403,180.98
	

	$
	118,216,318.40
	

	4/15/2029
	$
	1,061,362.98
	

	$
	500.00
	

	$
	1,060,862.98
	

	$
	659,912.63
	

	$
	400,950.35
	

	$
	117,556,405.77
	

	5/15/2029
	$
	1,061,362.98
	

	$
	500.00
	

	$
	1,060,862.98
	

	$
	662,150.84
	

	$
	398,712.14
	

	$
	116,894,254.93
	

	6/15/2029
	$
	1,085,243.65
	

	$
	500.00
	

	$
	1,084,743.65
	

	$
	688,277.30
	

	$
	396,466.35
	

	$
	116,205,977.63
	

	7/15/2029
	$
	1,085,243.65
	

	$
	500.00
	

	$
	1,084,743.65
	

	$
	690,611.71
	

	$
	394,131.94
	

	$
	115,515,365.92
	

	8/15/2029
	$
	1,085,243.65
	

	$
	500.00
	

	$
	1,084,743.65
	

	$
	692,954.03
	

	$
	391,789.62
	

	$
	114,822,411.89
	

	9/15/2029
	$
	1,085,243.65
	

	$
	500.00
	

	$
	1,084,743.65
	

	$
	695,304.30
	

	$
	389,439.35
	

	$
	114,127,107.59
	

	10/15/2029
	$
	1,085,243.65
	

	$
	500.00
	

	$
	1,084,743.65
	

	$
	697,662.54
	

	$
	387,081.11
	

	$
	113,429,445.05
	

	11/15/2029
	$
	1,085,243.65
	

	$
	500.00
	

	$
	1,084,743.65
	

	$
	700,028.78
	

	$
	384,714.87
	

	$
	112,729,416.27
	

	12/15/2029
	$
	1,085,243.65
	

	$
	500.00
	

	$
	1,084,743.65
	

	$
	702,403.05
	

	$
	382,340.60
	

	$
	112,027,013.22
	

	1/15/2030
	$
	1,085,243.65
	

	$
	500.00
	

	$
	1,084,743.65
	

	$
	704,785.36
	

	$
	379,958.29
	

	$
	111,322,227.86
	

	2/15/2030
	$
	1,085,243.65
	

	$
	500.00
	

	$
	1,084,743.65
	

	$
	707,175.76
	

	$
	377,567.89
	

	$
	110,615,052.10
	

	3/15/2030
	$
	1,085,243.65
	

	$
	500.00
	

	$
	1,084,743.65
	

	$
	709,574.26
	

	$
	375,169.39
	

	$
	109,905,477.84
	

	4/15/2030
	$
	1,085,243.65
	

	$
	500.00
	

	$
	1,084,743.65
	

	$
	711,980.90
	

	$
	372,762.75
	

	$
	109,193,496.94
	

	5/15/2030
	$
	1,085,243.65
	

	$
	500.00
	

	$
	1,084,743.65
	

	$
	714,395.71
	

	$
	370,347.94
	

	$
	108,479,101.23
	

	6/15/2030
	$
	1,109,661.63
	

	$
	500.00
	

	$
	1,109,161.63
	

	$
	741,236.68
	

	$
	367,924.95
	

	$
	107,737,864.55
	

	7/15/2030
	$
	1,109,661.63
	

	$
	500.00
	

	$
	1,109,161.63
	

	$
	743,750.71
	

	$
	365,410.92
	

	$
	106,994,113.84
	

	8/15/2030
	$
	1,109,661.63
	

	$
	500.00
	

	$
	1,109,161.63
	

	$
	746,273.26
	

	$
	362,888.37
	

	$
	106,247,840.58
	

	9/15/2030
	$
	1,109,661.63
	

	$
	500.00
	

	$
	1,109,161.63
	

	$
	748,804.37
	

	$
	360,357.26
	

	$
	105,499,036.21
	

	10/15/2030
	$
	1,109,661.63
	

	$
	500.00
	

	$
	1,109,161.63
	

	$
	751,344.07
	

	$
	357,817.56
	

	$
	104,747,692.14
	

	11/15/2030
	$
	1,109,661.63
	

	$
	500.00
	

	$
	1,109,161.63
	

	$
	753,892.37
	

	$
	355,269.26
	

	$
	103,993,799.77
	

	12/15/2030
	$
	1,109,661.63
	

	$
	500.00
	

	$
	1,109,161.63
	

	$
	756,449.33
	

	$
	352,712.30
	

	$
	103,237,350.44
	

	1/15/2031
	$
	1,109,661.63
	

	$
	500.00
	

	$
	1,109,161.63
	

	$
	759,014.95
	

	$
	350,146.68
	

	$
	102,478,335.49
	

	2/15/2031
	$
	1,109,661.63
	

	$
	500.00
	

	$
	1,109,161.63
	

	$
	761,589.28
	

	$
	347,572.35
	

	$
	101,716,746.21
	

	3/15/2031
	$
	1,109,661.63
	

	$
	500.00
	

	$
	1,109,161.63
	

	$
	764,172.33
	

	$
	344,989.30
	

	$
	100,952,573.88
	

	4/15/2031
	$
	1,109,661.63
	

	$
	500.00
	

	$
	1,109,161.63
	

	$
	766,764.15
	

	$
	342,397.48
	

	$
	100,185,809.73
	

	5/15/2031
	$
	1,109,661.63
	

	$
	500.00
	

	$
	1,109,161.63
	

	$
	769,364.76
	

	$
	339,796.87
	

	$
	99,416,444.97
	

	6/15/2031
	$
	1,134,629.02
	

	$
	500.00
	

	$
	1,134,129.02
	

	$
	796,941.58
	

	$
	337,187.44
	

	$
	98,619,503.39
	

	7/15/2031
	$
	1,134,629.02
	

	$
	500.00
	

	$
	1,134,129.02
	

	$
	799,644.54
	

	$
	334,484.48
	

	$
	97,819,858.85
	

	8/15/2031
	$
	1,134,629.02
	

	$
	500.00
	

	$
	1,134,129.02
	

	$
	802,356.67
	

	$
	331,772.35
	

	$
	97,017,502.18
	

	9/15/2031
	$
	1,134,629.02
	

	$
	500.00
	

	$
	1,134,129.02
	

	$
	805,077.99
	

	$
	329,051.03
	

	$
	96,212,424.19
	

	10/15/2031
	$
	1,134,629.02
	

	$
	500.00
	

	$
	1,134,129.02
	

	$
	807,808.55
	

	$
	326,320.47
	

	$
	95,404,615.64
	

	11/15/2031
	$
	1,134,629.02
	

	$
	500.00
	

	$
	1,134,129.02
	

	$
	810,548.37
	

	$
	323,580.65
	

	$
	94,594,067.27
	

	12/15/2031
	$
	1,134,629.02
	

	$
	500.00
	

	$
	1,134,129.02
	

	$
	813,297.48
	

	$
	320,831.54
	

	$
	93,780,769.79
	

	1/15/2032
	$
	1,134,629.02
	

	$
	500.00
	

	$
	1,134,129.02
	

	$
	816,055.91
	

	$
	318,073.11
	

	$
	92,964,713.88
	

	2/15/2032
	$
	1,134,629.02
	

	$
	500.00
	

	$
	1,134,129.02
	

	$
	818,823.70
	

	$
	315,305.32
	

	$
	92,145,890.18
	

	3/15/2032
	$
	1,134,629.02
	

	$
	500.00
	

	$
	1,134,129.02
	

	$
	821,600.88
	

	$
	312,528.14
	

	$
	91,324,289.30
	

	4/15/2032
	$
	1,134,629.02
	

	$
	500.00
	

	$
	1,134,129.02
	

	$
	824,387.47
	

	$
	309,741.55
	

	$
	90,499,901.83
	

	5/15/2032
	$
	1,134,629.02
	

	$
	500.00
	

	$
	1,134,129.02
	

	$
	827,183.52
	

	$
	306,945.50
	

	$
	89,672,718.31
	

	6/15/2032
	$
	1,160,158.17
	

	$
	500.00
	

	$
	1,159,658.17
	

	$
	855,518.20
	

	$
	304,139.97
	

	$
	88,817,200.11
	

	7/15/2032
	$
	1,160,158.17
	

	$
	500.00
	

	$
	1,159,658.17
	

	$
	858,419.83
	

	$
	301,238.34
	

	$
	87,958,780.28
	

	8/15/2032
	$
	1,160,158.17
	

	$
	500.00
	

	$
	1,159,658.17
	

	$
	861,331.31
	

	$
	298,326.86
	

	$
	87,097,448.97
	

	9/15/2032
	$
	1,160,158.17
	

	$
	500.00
	

	$
	1,159,658.17
	

	$
	864,252.66
	

	$
	295,405.51
	

	$
	86,233,196.31
	

Exhibit 10.3

	
																			
	Payment Date
	Rent
	Trustee Fee
	Payment
	Principal
	Interest
	O/S Principal Balance

	10/15/2032
	$
	1,160,158.17
	

	$
	500.00
	

	$
	1,159,658.17
	

	$
	867,183.91
	

	$
	292,474.26
	

	$
	85,366,012.40
	

	11/15/2032
	$
	1,160,158.17
	

	$
	500.00
	

	$
	1,159,658.17
	

	$
	870,125.11
	

	$
	289,533.06
	

	$
	84,495,887.29
	

	12/15/2032
	$
	1,160,158.17
	

	$
	500.00
	

	$
	1,159,658.17
	

	$
	873,076.29
	

	$
	286,581.88
	

	$
	83,622,811.00
	

	1/15/2033
	$
	1,160,158.17
	

	$
	500.00
	

	$
	1,159,658.17
	

	$
	876,037.47
	

	$
	283,620.70
	

	$
	82,746,773.53
	

	2/15/2033
	$
	1,160,158.17
	

	$
	500.00
	

	$
	1,159,658.17
	

	$
	879,008.70
	

	$
	280,649.47
	

	$
	81,867,764.83
	

	3/15/2033
	$
	1,160,158.17
	

	$
	500.00
	

	$
	1,159,658.17
	

	$
	881,990.00
	

	$
	277,668.17
	

	$
	80,985,774.83
	

	4/15/2033
	$
	1,160,158.17
	

	$
	500.00
	

	$
	1,159,658.17
	

	$
	884,981.42
	

	$
	274,676.75
	

	$
	80,100,793.41
	

	5/15/2033
	$
	1,160,158.17
	

	$
	500.00
	

	$
	1,159,658.17
	

	$
	887,982.98
	

	$
	271,675.19
	

	$
	79,212,810.43
	

	6/15/2033
	$
	1,186,261.73
	

	$
	500.00
	

	$
	1,185,761.73
	

	$
	917,098.28
	

	$
	268,663.45
	

	$
	78,295,712.15
	

	7/15/2033
	$
	1,186,261.73
	

	$
	500.00
	

	$
	1,185,761.73
	

	$
	920,208.77
	

	$
	265,552.96
	

	$
	77,375,503.38
	

	8/15/2033
	$
	1,186,261.73
	

	$
	500.00
	

	$
	1,185,761.73
	

	$
	923,329.81
	

	$
	262,431.92
	

	$
	76,452,173.57
	

	9/15/2033
	$
	1,186,261.73
	

	$
	500.00
	

	$
	1,185,761.73
	

	$
	926,461.44
	

	$
	259,300.29
	

	$
	75,525,712.13
	

	10/15/2033
	$
	1,186,261.73
	

	$
	500.00
	

	$
	1,185,761.73
	

	$
	929,603.69
	

	$
	256,158.04
	

	$
	74,596,108.44
	

	11/15/2033
	$
	1,186,261.73
	

	$
	500.00
	

	$
	1,185,761.73
	

	$
	932,756.60
	

	$
	253,005.13
	

	$
	73,663,351.84
	

	12/15/2033
	$
	1,186,261.73
	

	$
	500.00
	

	$
	1,185,761.73
	

	$
	935,920.20
	

	$
	249,841.53
	

	$
	72,727,431.64
	

	1/15/2034
	$
	1,186,261.73
	

	$
	500.00
	

	$
	1,185,761.73
	

	$
	939,094.52
	

	$
	246,667.21
	

	$
	71,788,337.12
	

	2/15/2034
	$
	1,186,261.73
	

	$
	500.00
	

	$
	1,185,761.73
	

	$
	942,279.62
	

	$
	243,482.11
	

	$
	70,846,057.50
	

	3/15/2034
	$
	1,186,261.73
	

	$
	500.00
	

	$
	1,185,761.73
	

	$
	945,475.52
	

	$
	240,286.21
	

	$
	69,900,581.98
	

	4/15/2034
	$
	1,186,261.73
	

	$
	500.00
	

	$
	1,185,761.73
	

	$
	948,682.26
	

	$
	237,079.47
	

	$
	68,951,899.72
	

	5/15/2034
	$
	1,186,261.73
	

	$
	500.00
	

	$
	1,185,761.73
	

	$
	951,899.87
	

	$
	233,861.86
	

	$
	67,999,999.85
	

Annex II

Defeasance Rider
The terms and conditions of this Defeasance Rider are hereby incorporated into the Note.  Capitalized terms not otherwise defined herein shall have the meanings as assigned thereto in the Deed of Trust.
This Note may be defeased in whole but not in part at any time prior to the Maturity Date, but only on the tenth day of the month after 30 days’ prior written notice to the holder of the Note (the “Payee”), subject to the following:
(A)    At any time, provided no Event of Default exists under the other Operative Agreements, the Company may obtain the release of the Granted Property from the lien of the Security Instrument upon the satisfaction of the following conditions precedent (such release in accordance with the terms hereof is hereinafter referred to as the “Defeasance”):
(i)    not less than thirty (30) days’ prior written notice to Payee specifying a regularly scheduled monthly payment date (the “Release Date”) on which the Defeasance Deposit (hereinafter defined) is to be made;
(ii)    the payment to Payee of interest accrued and unpaid on the principal balance of this Note to and including the Release Date;
(iii)    the payment to Payee of all other sums, not including scheduled interest or principal payments, then due and owing under the other Operative Agreements the amount of which Payee shall notify the Company of not less than five days prior to the Release Date;
(iv)    the payment to Payee of the Defeasance Deposit; and
(v)    the delivery to Payee of:

Exhibit 10.3

(a)    a security agreement, in form and substance satisfactory to Payee, creating a first priority lien on the Defeasance Deposit and the U.S. Obligations (hereinafter defined) purchased or to be purchased on behalf of the Company with the Defeasance Deposit in accordance with this provision of this paragraph (the “Security Agreement”);
(b)    a release of the Granted Property from the lien of the Security Instrument (for execution by Payee or release of any UCC related financing statements or other Operative Agreements (for execution by Payee)) in a form appropriate for the jurisdiction in which the Granted Property is located and such financing statements are filed, which Payee agrees to execute, notarize and deliver upon the Release Date upon the Company’s satisfaction of the requirements of this Defeasance Rider;
(c)    an officer’s certificate of the Company certifying that the requirements set forth in this subparagraph (A) have been satisfied;
(d)    an opinion of counsel for the Company in form satisfactory to Payee stating, among other things, that (1) Payee has a perfected first priority security interest in the Defeasance Deposit and/or the U.S. Obligations purchased by Payee on behalf of the Company with the Defeasance Deposit, (2) the Security Agreement is enforceable against the Company in accordance with its terms and (3) the Defeasance is not a fraudulent conveyance and will not be subject to related bankruptcy risks;
(e)    such other certificates, documents or instruments as Payee may reasonably request; and
(f)    payment to Payee by the Company of all costs and expenses incurred by Payee in connection with the Defeasance hereunder including, but not limited to, reasonable fees of attorney and accountants.
In connection with the conditions set forth in subparagraph (A)(v) above, the Company hereby appoints Payee as its agent and attorney-in-fact for the purpose of using the Defeasance Deposit to purchase U.S. Obligations which provide payments on or prior to, but as close as possible to, all successive scheduled monthly payment dates after the Release Date upon which interest and principal payments are required under this Note (including the amounts due on the Maturity Date) and in amounts equal to the scheduled payments due on such dates and on the Maturity Date under this Note (the “Scheduled Defeasance Payments”).  The Company, pursuant to an agreement to be entered into and subject to Payee approval, shall authorize and direct that the payments received from the U.S. Obligations may be made directly to Payee and applied to satisfy the obligations of the Company under this Note.
(B)    Upon compliance with the requirements of this Defeasance Rider, the Granted Property shall be released from the lien of the Security Instrument and all other Operative Agreements, any guarantor or indemnitor for the loan evidenced by the Note shall be released from any liability accruing after the date of compliance with this Defeasance Rider, and the pledged U.S. Obligations shall be the sole source of collateral securing this Note.  Any portion of the Defeasance Deposit in excess of the amount necessary to purchase the U.S. Obligations required by subparagraph (A) above and satisfy the Company’s obligations under this paragraph shall be remitted to the Company with the release of the Granted Property from the lien of the Security Instrument.  In connection with such release, the Company shall establish, or designate a successor entity (the “Successor Company”), subject to the approval of Payee, and the Company shall transfer and assign all obligations, rights and duties under and to this Note together with the pledged U.S. Obligations to such Successor Company.  The obligation of the Company, subject to the approval of Payee, to establish or designate a Successor Company shall be automatically deemed to be assumed by a transferee in the event of any Transfer (as defined in the Security Instrument) of this Note and the other Operative Agreements and the Company shall be relieved of its obligations thereunder and under the other Operative Agreements.  The Company shall pay $1,000 to any such Successor Company as consideration for assuming the obligations under this Note and the Security Agreement.  Notwithstanding anything in the other Operative Agreements to the contrary, no other assumption fee shall be payable upon a transfer of this Note in accordance with this paragraph.
(C)    For purposes of this Defeasance Rider, the following terms shall have the following meanings:

Exhibit 10.3

(i)    the term “Defeasance Deposit” shall mean an amount which Payee shall determine (in reliance upon a verification report delivered by a nationally recognized independent certified public accountant or firm of nationally recognized certified public accountants) is sufficient to pay the Scheduled Defeasance Payments, any costs and expenses (including the reasonable fee and expenses of such accountant or firm of accountants) incurred or to be incurred in the purchase of U.S. Obligations necessary to meet the Scheduled Defeasance Payments and any revenue, documentary stamp or intangible taxes or any other tax or charge due in connection with the transfer of this Note or otherwise required to accomplish the agreements of this Defeasance Rider, which such taxes Payee shall cause to be paid to the appropriate taxing authority on the Release Date; and
(ii)    the term “U.S. Obligations” shall mean direct non-callable full faith and credit obligations of the United States of America.

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