Document:

PROMISSORY NOTE

 Exhibit 10.2 
 PROMISSORY NOTE 
  

			
	 $150,000,000.00
	  	New York, New York
		  	July 11,2007

 FOR VALUE
RECEIVED, BROADWAY 500 WEST MONROE FEE LLC, a Delaware limited liability company, as maker, having its principal place of business at c/o Broadway Partners, 375 Park Avenue, Suite 2107, New York, New York 10152
(“Borrower”), hereby unconditionally promises to pay to the order of MORGAN STANLEY MORTGAGE CAPITAL HOLDINGS LLC, having an address at 1221 Avenue of the Americas, New York, New York 10020, as payee (together with its
successors and assigns, “Lender”), or at such other place as the holder hereof may from time to time designate in writing, the principal sum of ONE HUNDRED FIFTY MILLION AND 00/100 DOLLARS ($150,000,000.00) or so much thereof
as may be advanced by Lender to Borrower, in lawful money of the United States of America with interest thereon to be computed from the date of this Note at the Applicable Interest Rate and to be paid in accordance with the terms of this Note and
that certain Loan Agreement, dated the date hereof, between Borrower and Lender (such Loan Agreement, as same maybe amended, supplemented, restated or otherwise modified from time to time, is hereinafter referred to as the “Loan
Agreement”). All capitalized terms not defined herein shall have the respective meanings set forth in the Loan Agreement. 
 ARTICLE 1 - PAYMENT TERMS 
 Borrower agrees to pay the principal sum of
this Note and interest on the unpaid principal sum of this Note from time to time outstanding at the rates and at the times specified in the Loan Agreement and the outstanding balance of the principal sum of this Note and all accrued and unpaid
interest thereon shall be due and payable on the Maturity Date together with all other amounts due to Lender under the Loan Documents. 
 ARTICLE 2 - DEFAULT AND ACCELERATION 
 The Debt shall without notice become
immediately due and payable at the option of Lender if any payment required in this Note is not paid on or prior to the date when due (beyond the expiration of any applicable grace periods) or if not paid on the Maturity Date or on the occurrence of
any other Event of Default and in addition, during the continuance of an Event of Default, Lender shall be entitled to receive interest on the entire unpaid principal sum at the Default Rate pursuant to the terms of the Loan Agreement. This Article
2, however, shall not be construed as an agreement or privilege to extend the date of the payment of the Debt, nor as a waiver of any other right or remedy accruing to Lender by reason of the occurrence of any Event of Default. 

 ARTICLE 3 - LOAN DOCUMENTS 

This Note is secured by the Security Instrument and the other Loan Documents. All of the terms, covenants and conditions contained in the
Loan Agreement, the Security Instrument and the other Loan Documents are hereby made part of this Note to the same extent and with the same force as if they were fully set forth herein. In the event of a conflict or inconsistency between the terms
of this Note and the Loan Agreement, the terms and provisions of the Loan Agreement shall govern. 
 ARTICLE 4 - SAVINGS
CLAUSE 
 This Note and the Loan Agreement are subject to the express condition that at no time shall Borrower be obligated
or required to pay interest on the principal balance of the Loan at a rate which could subject Lender to either civil or criminal liability as a result of being in excess of the Maximum Legal Rate. If, by the terms of this Note, the Loan Agreement
or the other Loan Documents, Borrower is at any time required or obligated to pay interest on the principal balance due hereunder at a rate in excess of the Maximum Legal Rate, the Applicable Interest Rate or the Default Rate, as the case may be,
shall be deemed to be immediately reduced to the Maximum Legal Rate and all previous payments in excess of the Maximum Legal Rate shall be deemed to have been payments in reduction of principal and not on account of the interest due hereunder. All
sums paid or agreed to be paid to Lender for the use, forbearance, or detention of the sums due under the Loan, shall, to the extent permitted by applicable law, be amortized, prorated, allocated, and spread throughout the full stated term of the
Loan until payment in full so that the rate or amount of interest on account of the Loan does not exceed the Maximum Legal Rate of interest from time to time in effect and applicable to the Loan for so long as the Loan is outstanding. 

ARTICLE 5 - NO ORAL CHANGE 
 This Note may not be modified, amended, waived, extended, changed, discharged or terminated orally or by any act or failure to act on the part of Borrower or Lender, but only by an agreement in writing
signed by the party against whom enforcement of any modification, amendment, waiver, extension, change, discharge or termination is sought. 
 ARTICLE 6 - WAIVERS 
 Borrower and all others who may become liable for the
payment of all or any part of the Debt do hereby severally waive (i) all exemptions, whether homestead or otherwise, as to obligations evidenced by this Note and (ii) presentment and demand for payment, notice of dishonor, notice of
intention to accelerate, notice of acceleration, protest and notice of protest and non-payment and all other notices of any kind. No release of any security for the Debt or extension of time for payment of this Note or any installment hereof, and no
alteration, amendment or waiver of any provision of this Note, the Loan Agreement or the other Loan Documents made by agreement between Lender or any other Person shall release, modify, amend, waive, extend, change, discharge, terminate or affect
the liability of Borrower, and any 

 
other Person who may become liable for the payment of all or any part of the Debt, under this Note, the Loan Agreement or the other Loan Documents. No notice to or demand on Borrower shall be
deemed to be a waiver of the obligation of Borrower or of the right of Lender to take further action without further notice or demand as provided for in this Note, the Loan Agreement or the other Loan Documents. If Borrower is a partnership, the
agreements herein contained shall remain in force and be applicable, notwithstanding any changes in the individuals or entities comprising the partnership, and the term “Borrower,” as used herein, shall include any alternate or successor
partnership, but any predecessor partnership and their partners shall not thereby be released from any liability. If Borrower is a corporation, the agreements contained herein shall remain in full force and be applicable notwithstanding any changes
in the shareholders comprising, or the officers and directors relating to, the corporation, and the term “Borrower” as used herein, shall include any alternate or successor corporation, but any predecessor corporation shall not be relieved
of liability hereunder. If Borrower is a limited liability company, the agreements herein contained shall remain in force and be applicable, notwithstanding any changes in the members comprising the limited liability company, and the term
“Borrower” as used herein, shall include any alternate or successor limited liability company, but any predecessor limited liability company and their members shall not thereby be released from any liability. (Nothing in the foregoing
sentence shall be construed as a consent to, or a waiver of, any prohibition or restriction on transfers of interests in such partnership, corporation or limited liability company which may be set forth in the Loan Agreement, the Security Instrument
or any other Loan Document.) If Borrower consists of more than one person or party, the obligations and liabilities of each such person or party shall be joint and several. 
 ARTICLE 7 - TRANSFER 
 Upon the transfer of this Note, Borrower hereby
waiving notice of any such transfer (except to the extent provided for in the Loan Agreement), Lender may deliver all the collateral mortgaged, granted, pledged or assigned pursuant to the Loan Documents, or any part thereof, to the transferee who
shall thereupon become vested with all the rights herein or under applicable law given to Lender with respect thereto, and Lender shall thereafter forever be relieved and fully discharged from any liability or responsibility in the matter; but
Lender shall retain all rights hereby given to it with respect to any liabilities and the collateral not so transferred; provided, however, Borrower shall continue making payments due under this Note to the Lender named herein until Borrower has
received notice of such transferee and upon receipt of such notice, Borrower shall commence making payments due under this Note to such transferee. 
 ARTICLE 8 - EXCULPATION 
 Notwithstanding anything to the contrary
contained in this Note, the liability of Borrower to pay the Debt and for the performance of the other agreements, covenants and obligations contained herein and in the Security Instrument, the Loan Agreement and the other Loan Documents shall be
limited as set forth in Section 9.4 of the Loan Agreement. The provisions of Section 9.4 of the Loan Agreement are hereby incorporated by reference as if the text of such Section were set forth in its entirety herein. 

  
 - 3 -

 ARTICLE 9 - GOVERNING LAW 

This Note shall be governed in accordance with the terms and provisions of Section 10.3 of the Loan Agreement. 

ARTICLE 10 - NOTICES 
 All notices or other written communications hereunder shall be delivered in accordance with Section 10.6 of the Loan Agreement. 

ARTICLE 11 - WAIVER OF RIGHT TO JURY TRIAL 
 BORROWER HEREBY WAIVES TRIAL BY JURY IN REGARD TO ANY CLAUSES OF ACTION, CLAIMS, OBLIGATIONS, DAMAGES OR ANY COMPLAINTS WHICH BORROWER MAY HAVE ARISING OUT OF THIS NOTE, OR ANY OF THE DOCUMENTS RELATING
TO, EVIDENCING AND/OR SECURING THIS NOTE (LOAN DOCUMENTS), OR IN ANY ACTION OR PROCEEDING WHICH THE HOLDER HEREOF MAY BRING TO ENFORCE ANY PROVISION OF THE LOAN DOCUMENTS. BY EXECUTION OF THIS NOTE, BORROWER HEREBY REPRESENTS THAT BORROWER IS
REPRESENTED BY COMPETENT COUNSEL WHO HAS FULLY AND COMPLETELY ADVISED BORROWER OF THE MEANING AND RAMIFICATIONS OF THE WAIVER OF THE RIGHT TO A TRIAL BY JURY. 
 [NO FURTHER TEXT ON THIS PAGE] 

  
 - 4 -

 IN WITNESS WHEREOF, Borrower has duly executed this Note as of the day and year first
above written. 
  

			
	BORROWER:
	
	BROADWAY 500 WEST MONROE FEE LLC,
a Delaware limited liability company
		
	BY:	 	/s/ Illegible
	Name:	 	
	Title:FIRST OMNIBUS AMENDMENT TO LOAN AGREEMENT

 Exhibit 10.3 
 FIRST OMNIBUS AMENDMENT TO LOAN AGREEMENT 
 AND OTHER LOAN
DOCUMENTS 
 (MORTGAGE LOAN) 
 THIS FIRST OMNIBUS AMENDMENT TO LOAN AGREEMENT AND OTHER LOAN DOCUMENTS, effective as of August 15, 2007 (this “Amendment”), between BROADWAY 500 WEST MONROE FEE LLC, a Delaware
limited liability company (“Borrower”), and MORGAN STANLEY MORTGAGE CAPITAL HOLDINGS LLC, a New York limited liability company (“Lender”). 

W I T N E S S E T H: 
 WHEREAS, Lender and Borrower are parties to that certain Loan Agreement dated as of July 11, 2007 (the “Loan Agreement”), pursuant to which Lender made a loan to Borrower (the
“Loan”) in the original principal amount of $150,000,000.00; 
 WHEREAS, the Loan is evidenced by that
certain Promissory Note dated July 11, 2007, from Borrower to Lender in the principal amount of $150,000,000.00 (the “Original Note”); 
 WHEREAS, Morgan Stanley Mortgage Capital Holdings LLC, a New York limited liability company Lender, as mezzanine lender (“Mezzanine Lender”), and Broadway 500 West Monroe Mezz I
LLC, a Delaware limited liability company, as mezzanine borrower (“Mezzanine Borrower”), are parties to that certain Mezzanine A Loan Agreement dated as of July 11, 2007 (the “Mezzanine Loan
Agreement”), pursuant to which Mezzanine Lender advanced to Mezzanine Borrower an Initial Advance (as defined in the Mezzanine Loan Agreement) in the principal amount of $49,100,000.00 and pursuant to which Mezzanine Lender agreed to
make Future Advances (as defined in the Mezzanine Loan Agreement) to Mezzanine Borrower pursuant to the terms of the Mezzanine Loan Agreement in the principal amount of up to $16,500,000.00 (the Initial Advance and any Future Advances are
collectively referred to herein as the “Mezzanine Loan”); 
 WHEREAS, the Mezzanine Loan is evidenced by
that certain Promissory Note dated July 11, 2007, from Mezzanine Borrower to Mezzanine Lender in the principal amount of up to $65,600,000.00 (the “Original Mezzanine Note”); 

WHEREAS, Lender and Borrower have agree to “resize” the Loan pursuant to Section 9.5 of the Loan Agreement and, in order
to effectuate such “resizing”, Borrower has partially prepaid the Loan in the amount of $10,000,000.00 (the “Partial Prepayment”) such that the outstanding principal amount of the Loan as of the date hereof is
$140,000,000.00; 
 WHEREAS, in connection with the “resizing” of the Loan, Mezzanine Lender and Mezzanine Borrower
have agreed to “resize” the Mezzanine Loan pursuant to Section 9.5 of the Mezzanine Loan Agreement and, in order to effectuate such “resizing”, Mezzanine Lender has advanced to Mezzanine Borrower on the date hereof
additional Mezzanine Loan proceeds in the amount of $10,000,000.00 (the “Loan Increase”) such that the outstanding principal amount of the Mezzanine Loan as of the date hereof is $59,100,000.00, and such Loan Increase has
been 

 
contributed from Mezzanine Borrower to Borrower in order to make the Partial Prepayment to Lender; 
 WHEREAS, in order to reflect the Partial Prepayment, Lender and Borrower have entered into that certain Amended and Restated Promissory Note affective as of August 15, 2007, in the principal amount
of $140,000,000.00 (as the same may be amended, restated, replaced, extended, renewed, supplemented, severed, split, or otherwise modified from time to time, the “Amended and Restated Note”); 

WHEREAS, in order to, among other things, reflect the Loan Increase, Mezzanine Lender and Mezzanine Borrower have entered into
(i) that certain Amended and Restated Promissory Note (Mezzanine A Loan) to be effective as of August 15, 2007, in the principal amount of up to $75,600,000.00, and (ii) that certain First Omnibus Amendment to Loan Agreement and Other
Loan Documents (Mezzanine A Loan) effective as of August 15, 2007; and 
 WHEREAS, in order to, among other things, reflect
the Partial Prepayment and the Amended and Restated Note, Borrower and Lender have agreed to amend the Loan Agreement in the manner hereinafter set forth. 
 NOW, THEREFORE, in pursuance of such agreement and for good and valuable consideration, Borrower and Lender hereby agree as follows: 

1. Unless otherwise defined in this Amendment, capitalized terms used herein shall have their defined meanings set forth in the Loan
Agreement. 
 2. The definition of Eurodollar Spread is hereby deleted in its entirety and the following substituted therefor:

 “Eurodollar Spread” shall mean 100.753571 basis points (1.00753571%). 

3. The definition of Note is hereby deleted in its entirety and the following substituted therefor: 

“Note” shall mean that certain Amended and Restated Promissory Note effective as of August 15, 2007 in the principal
amount of One Hundred Forty Million and No/100 Dollars ($140,000,000.00), made by Borrower in favor of Lender, as the same may be further amended, restated, replaced, extended, renewed, supplemented, severed, split, or otherwise modified from time
to time. 
 4. All references in each of the Loan Documents to the Loan Agreement shall be deemed to be a reference to the Loan
Agreement as amended by this Amendment. All references in each of the Loan Documents to the Note shall be deemed to be a reference to the “Note” as defined in Section 3 above. 

 5. The Lender hereby recognizes and accepts the Partial Prepayment and waives any applicable
Spread Maintenance Premium, any Breakage Costs and/or any other fees and charges in connection therewith. 
 6. Borrower and
Lender hereby acknowledge and agree that the outstanding principal amount of the Loan as of the date hereof is $140,000,000.00. 

7. As amended by this Amendment and the Amended and Restated Note, all terms, covenants and provisions of the Loan Documents are ratified
and confirmed and shall remain in full force and effect. The obligations of Broadway Partners Parallel Fund B III, L.P., Broadway Partners Parallel Fund P III, L.P., and Broadway Partners Real Estate Fund III, L.P. (collectively,
“Guarantor”), under that certain Guaranty of Recourse Obligations of Borrower dated as of July 11, 2007 (the “Guaranty”), shall not be released, diminished, impaired, reduced or adversely affected
by this Amendment or the Amended and Restated Note, and all obligations of Guarantor thereunder shall remain in full force and effect, and Guarantor hereby waives any common law, equitable, statutory or other rights which such party might otherwise
have as a result of or in connection with this Amendment and the Amended and Restated Note. 
 8. Unless otherwise defined in
this Amendment, capitalized terms used herein shall have their defined meanings set forth in the Loan Agreement. 
 9. This
Amendment may be executed by one or more of the parties hereto on any number of separate counterparts, each of which shall be an original and all of which taken together shall constitute one and the same instrument. 

10. This Amendment shall inure to the benefit of and be binding upon Borrower and Lender, and their respective successors and assigns.

 11. This Amendment shall be governed by, and construed in accordance with, the law of the State of New York. 

12. Lender represents and warrants that this Amendment and the Amended and Restated Note are entered into, as permitted under
Section 9.5 of the Loan Agreement, due to the fact that a portion of the Loan will not receive an “investment grade” rating in connection with a proposed Securitization. 

13. The provisions of Section 9.4 of the Loan Agreement are hereby incorporated by reference herein as if the text of such Section
were set forth in its entirety herein. 
 [NO FURTHER TEXT ON THIS PAGE] 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by
their duly authorized representatives, all as of the day and year first above written. 
  

			
	LENDER:
	
	 MORGAN STANLEY MORTGAGE
 HOLDINGS LLC, a New York limited
 liability company

		
	By:	 	/s/ Gary P. Curwin
	Name:	 	Gary P. Curwin 
	Title:	 	Vice President

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by
their duly authorized representatives, all as of the day and year first above written. 
  

			
	LENDER:
	
	 MORGAN STANLEY MORTGAGE
 HOLDINGS LLC, a New York limited
 liability company

		
	By:	 	 
	Name:	 	
	Title:	 	

  

			
	BORROWER:
	
	 BROADWAY 500 WEST MONROE
 FEE LLC, a Delaware limited liability
 company

		
	By:	 	/s/ Illegible
	Name:	 	
	Title:	 	

 The undersigned (on behalf of itself and its successors and assigns) hereby acknowledge and agree to this
Amendment and the provisions set forth in Section 6 of this Amendment, and reaffirm their obligations under the Guaranty and agree that such Guaranty and their obligations thereunder shall continue and remain in full force and affect, as such
obligations have been expressly modified by this Amendment. 
  

							
	GUARANTOR:
	
	BROADWAY PARTNERS PARALLEL FUND B III, L.P., a Delaware limited partnership
		
	By:	 	Broadway Partners Fund GP III, L.P., a Delaware limited partnership, its general partner
			
		 	By:	 	 Broadway Partners Fund GP III, LLC, a Delaware limited liability company, its

general partner

				
		 		 	By:	 	/s/ Illegible
		 		 	Name:	 	
		 		 	Title:	 	

  

							
	BROADWAY PARTNERS REAL ESTATE FUND III, L.P., a Delaware limited partnership
		
	By:	 	 Broadway Partners Fund GP III, L.P., a
 Delaware limited partnership, its general partner

			
		 	By:	 	Broadway Partners Fund GP III, LLC, a Delaware limited liability company, its general partner
				
		 		 	By:	 	/s/ Illegible
		 		 	Name:	 	
		 		 	Title:	 	

 
							
	BROADWAY PARTNERS PARALLEL FUND P III, L.P., a Delaware limited partnership
		
	By:	 	Broadway Partners Fund GP III, L.P., a Delaware limited partnership, its general partner
			
		 	By:	 	Broadway Partners Fund GP III, LLC, a Delaware limited liability company, its general partner
				
		 		 	By:	 	/s/ Illegible
		 		 	Name:	 	
		 		 	Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00189-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00189-of-00352.parquet"}]]