Document:

Exhibit
10.3

Loan No. 10032921

PROMISSORY NOTE

	
  $82,000,000.00

  	
   

  	
  November 30, 2006

  

 

FOR VALUE RECEIVED, BEHRINGER HARVARD 945 EAST
PACES FERRY ROAD, LLC, a Delaware limited liability company,
as maker, having its principal place of business c/o Behringer Harvard Funds,
15601 Dallas Parkway, Suite 600, Addison, Texas 75001 (“Borrower”),
hereby unconditionally promises to pay to the order of KEYBANK
NATIONAL ASSOCIATION, a national association, having an office at
911 Main Street, Suite 1500, Kansas City, Missouri 64105 (“Lender”),
or at such other place as the holder hereof may from time to time designate in
writhing, the principal sum of EIGHTY-TWO MILLION AND No/100 DOLLARS
($82,000,000.00), in lawful money of the United States of America with interest
thereon to be computed from the date of this Note at the 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 (as the same may
hereafter be amended, restated, replaced, supplemented, renewed, extended or
otherwise modified from time to time, the “Loan Agreement”).  All capitalized terms not defined herein
shall have the respective meanings set forth in the Loan Agreement.

ARTICLE I

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 Article 2 of 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.

ARTICLE
II 

DEFAULT AND ACCELERATION

Except as otherwise provided in the Loan Agreement,
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 or if not paid on the Maturity Date or on the happening of any
other Event of Default.

ARTICLE
III 

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
IV 

SAVINGS CLAUSE

Notwithstanding anything to the contrary, (a) all
agreements and communications between Borrower and Lender are hereby and shall
automatically be limited so that, after taking into account all amounts deemed
interest, the interest contracted for, charged or received by Lender shall
never exceed the Maximum Legal Rate, (b) in calculating whether any interest
exceeds the Maximum Legal Rate, all such interest shall be amortized, prorated,
allocated and spread over the full amount and term of all principal
indebtedness of Borrower to Lender and (c) if through any contingency or event
Lender receives or is deemed to receive interest in excess of the Maximum Legal
Rate, any such excess shall be deemed to have been applied toward payment of
the principal of any and all then outstanding indebtedness of Borrower to
Lender.

ARTICLE V

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
VI 

WAIVERS

Borrower and all others who may become liable for the
payment of all or any part of the Debt do hereby severally waive presentment
and demand for payment, notice of dishonor, notice of intention to accelerate,
notice of acceleration, protest and notice of protest and non-payment and all
other notices of any kind, except for such notices as are expressly provided
for in any Loan Document.  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, except as may
be expressly provided in such release, alteration, amendment or waiver.  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

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shareholders comprising,
or the officers and directors relating to, the corporation, and the term “Borrower”
as used herein, shall include any alternative or successor corporation, but any
predecessor corporation shall not be relieved of liability hereunder.  If any 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 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.)

ARTICLE
VII 

TRANSFER

Upon the transfer of this Note, Borrower hereby
waiving prior notice of any such transfer, 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.

ARTICLE
VIII 

EXCULPATION

The provisions of Section 9.3 of the Loan Agreement
are hereby incorporated by reference into this Note to the same extent and with
the same force as if fully set forth herein.

ARTICLE
IX 

GOVERNING LAW

This Note shall be governed by and construed in
accordance with the laws of the state in which the Property is located (without
regard to any conflict of laws or principles) and the applicable laws of the
United States of America.

ARTICLE X

NOTICES

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

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ARTICLE
XI 

JOINT AND SEVERAL

If more than one Person has executed this Note as “Borrower”,
the obligations of all such Persons hereunder shall be joint and several except
as set forth in the Loan Documents.

[SIGNATURE PAGE FOLLOWS]

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

[SEE SEPARATE SIGN PAGE]Exhibit 10.4

	
  PREPARED BY AND UPON

  	
   

  	
  THE MATURITY DATE OF THE

  
	
  RECORDATION RETURN TO:

  	
   

  	
  NOTE IS NOT LATER THAN

  
	
   

  	
   

  	
  DECEMBER 1, 2016.

  

 

Alston & Bird
LLP

90 Park Avenue

New York, New York  10016

Attention:  Joseph P. Forte, Esq.

Loan No. 10032921

BEHRINGER HARVARD 945 EAST PACES FERRY ROAD, LLC,
as grantor

(Borrower)

to

KEYBANK NATIONAL ASSOCIATION, as
mortgagee

(Lender)

FEE AND LEASEHOLD DEED TO

SECURE DEBT AND SECURITY AGREEMENT

	
   

  	
  Dated: As of

  	
   

  	
  November 30, 2006

  
	
   

  	
  Location:

  	
   

  	
  945 East Paces Ferry Road

  
	
   

  	
   

  	
   

  	
  Atlanta, Georgia

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  County:

  	
   

  	
  Fulton County

  

 

NOTE TO CLERK:  INTANGIBLE RECORDING TAX IS DUE IN THE AMOUNT
OF $25,000.00.  THE MATURITY DATE OF THE
PROMISSORY NOTE IS BEYOND THREE (3) YEARS — LONG TERM NOTE, AND THE PRINCIPAL
SUM OF THE NOTE IS $82,000,000.00.

FEE AND LEASEHOLD DEED TO SECURE DEBT AND  

SECURITY AGREEMENT

THIS FEE
AND LEASEHOLD DEED TO SECURE DEBT AND SECURITY AGREEMENT (this
“Security
Instrument”) is made as of this 30th day of November, 2006, by BEHRINGER HARVARD 945 EAST
PACES FERRY ROAD, LLC, a Delaware limited liability company, having
its principal place of business c/o Behringer Harvard Funds, 15601 Dallas
Parkway, Suite 600, Addison, Texas 75001, as grantor (“Borrower”) for the
benefit of KEYBANK NATIONAL ASSOCIATION, a
national association, having its principal place of business at 911 Main
Street, Suite 1500, Kansas City, Missouri 64105, as mortgagee (together with
its successors and/or assignors “Lender”).

W I T N E S S E T H:

WHEREAS,
this Security Instrument is given to secure a loan (the “Loan”) in the original principal sum of
EIGHTY-TWO MILLION and No/100 DOLLARS ($82,000,000.00) advanced pursuant to
that certain Loan Agreement, dated as of the date hereof, between Borrower and
Lender (as the same may hereafter be amended, restated, replaced, supplemented,
renewed, extended or otherwise modified from time to time, the “Loan Agreement”) and evidenced by that
certain Promissory Note, dated the date hereof, in the face amount of
$82,000,000.00 with a maturity date of December 1, 2016, made by Borrower in
favor of Lender (as the same may hereafter be amended, restated, replaced,
supplemented, renewed, extended or otherwise modified from time to time, the “Note”);

WHEREAS,
Borrower desires to secure the payment of the Debt (as defined in the Loan
Agreement) and the performance of all of its obligations under the Note, the
Loan Agreement and the other Loan Documents (as herein defined); and

WHEREAS,
this Security Instrument is given pursuant to the Loan Agreement, and payment,
fulfillment, and performance by Borrower of its obligations thereunder and
under the other Loan Documents are secured hereby, and each and every term and
provision of the Loan Agreement, the Note, and that certain Assignment of
Leases and Rents, dated as of the date hereof, made by Borrower in favor of
Lender delivered in connection with this Security Instrument (as the same may
be amended, restated, replaced, supplemented, renewed, extended or otherwise
modified from time to time, the “Assignment
of Leases”), including the rights, remedies, obligations, covenants,
conditions, agreements, indemnities, representations and warranties of the
parties therein, are hereby incorporated by reference herein as though set
forth in full and shall be considered a part of this Security Instrument (the
Loan Agreement, the Note, this Security Instrument, the Assignment of Leases
and Rents and all other documents evidencing or securing the Debt (including
all additional mortgages, deeds to secure debt and assignments of leases and
rents) or pursuant to which any Person incurs, has incurred or assumes any
obligation to or for the benefit of Lender in connection therewith, are
hereinafter referred to collectively as the “Loan
Documents”).

 

NOW
THEREFORE, in consideration of the making of the Loan by
Lender and the covenants, agreements, representations and warranties set forth
in this Security Instrument:

ARTICLE I - GRANTS OF SECURITY

Section
1.1            Property Conveyed.  Borrower does hereby irrevocably grant,
bargain, sell, convey, mortgage, pledge, assign, warrant and transfer to Lender
and its successors and assigns, with Power of Sale, all of Borrower’s right,
title and interest in, to and under the following property, rights, interests
and estates now owned, or hereafter acquired by Borrower (collectively, the “Property”):

(a)           Land.  The real property described in Exhibit A
attached hereto and made a part hereof (the “Land”);

(b)           Additional Land.  All additional lands, estates and development
rights hereafter acquired by Borrower for use in connection with the Land and
the development of the Land and all additional lands and estates therein which
may, from time to time, by supplemental mortgage or otherwise be expressly made
subject to the lien of this Security Instrument;

(c)           Ground Lease.  That certain Lease Agreement for Johnstown
South Site dated May 29, 1984 and recorded with the Fulton County Clerk of
Superior Court (the “Recorder’s Office”)
at Deed Book 8994, Page 396, as amended by First Amendment to Lease for
Johnstown South Site dated May 29, 1984 and recorded with the Recorder’s Office
at Deed Book 8994, Page 448, as further amended by Second Amendment to Lease
for Johnstown South Site dated July 1, 1984 and recorded with the Recorder’s
Office at Deed Book 9392, Page 398, as further amended by Third Amendment to
Lease for Johnstown South Site dated February 19, 1986 and recorded with the
Recorder’s Office at Deed Book 9971, Page 106, as further amended by Fourth
Amendment to Lease for Johnstown South Site and Second Amendment to Development
Agreement dated August 1, 1986 and recorded with the Recorder’s Office at Deed
Book 10277, Page 168, as assigned to Borrower by that certain Assignment and
Assumption of Ground Lease and Development Agreement, dated as of the date
hereof (as set forth below and as the same may be further amended,
supplemented, replaced, restated and/or otherwise modified from time to time,
collectively, the “Ground Lease”)
and the leasehold estate created thereby (the “Leasehold Estate”);

(d)           Assignments/Modifications.  All assignments, modifications, extensions
and renewals of the Ground Lease and all credits, deposits, options, privileges
and rights of Borrower as tenant under the Ground Lease, including, but not
limited to, rights of first refusal, if any, and the right, if any, to renew or
extend the Ground Lease for a succeeding term or terms, and also including all
the right, title, claim or demand whatsoever of Borrower either in law or in
equity, in possession or expectancy, of, in and to Lender’s right, as tenant
under the Ground Lease, to elect under Section 365(h)(1) of the Bankruptcy Code
to terminate or treat the Ground Lease as terminated in the event (i) of the
bankruptcy, reorganization or insolvency of the landlord under the Ground Lease

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(the “Ground Lessor”), and (ii) the rejection of
the Ground Lease by Ground Lessor, as debtor in possession, or by a trustee for
Ground Lessor, pursuant to Section 365 of the Bankruptcy Code;

(e)           Development Agreement.   That certain Development Agreement dated
November 10, 1982 and recorded with the Recorder’s Office at Deed Book 8287,
Page 1, as amended by First Amendment to Development Agreement dated September
30, 1983 and unrecorded, as further amended by Fourth Amendment to Lease for
Johnstown South Site and Second Amendment to Development Agreement dated August
1, 1986 and recorded with the Recorder’s Office at Deed Book 10277, Page 168,
as assigned to Borrower by that certain Assignment and Assumption of Ground
Lease and Development Agreement, dated as of the date hereof (as set forth
below and as the same may be further amended, supplemented, replaced, restated
and/or otherwise modified from time to time, collectively, the “Development Agreement”);

(f)            Improvements.  The buildings, structures, fixtures,
additions, enlargements, extensions, modifications, repairs, replacements and
improvements now or hereafter erected or located on the Land (collectively, the
“Improvements”);

(g)           Easements.  All easements, rights-of-way or use, rights,
strips and gores of land, streets, ways, alleys, passages, sewer rights, water,
water courses, water rights and powers, air rights and development rights, and
all estates, rights, titles, interests, privileges, liberties, servitudes,
tenements, hereditaments and appurtenances of any nature whatsoever, in any way
now or hereafter belonging, relating or pertaining to the Land and the
Improvements, including, but not limited to, those arising under and by virtue
of the Ground Lease, and the reversions and remainders, and all land lying in the
bed of any street, road or avenue, opened or proposed, in front of or adjoining
the Land, to the center line thereof and all the estates, rights, titles,
interests, rights of dower, rights of curtesy, property, possession, claim and
demand whatsoever, both at law and in equity, of Borrower of, in and to the
Land and the Improvements, including, but not limited to, those arising under
and by virtue of the Ground Lease, and every part and parcel thereof, with the
appurtenances thereto;

(h)           Equipment.  All “equipment,”
as such term is defined in Article 9 of the Uniform Commercial Code (as
hereinafter defined), now owned or hereafter acquired by Borrower, which is
used at or in connection with the Improvements or the Land or is located
thereon or therein (including, but not limited to, all machinery, equipment,
furnishings, and electronic data-processing and other office equipment now
owned or hereafter acquired by Borrower and used at the Improvements or the
Land and any and all additions, substitutions and replacements of any of the
foregoing), together with all attachments, components, parts, equipment and
accessories installed thereon or affixed thereto (collectively, the “Equipment”).  Notwithstanding the foregoing, Equipment
shall not include any property belonging to tenants under leases except to the
extent that Borrower shall have any right or interest therein;

(i)            Fixtures.  All Equipment now owned, or the ownership of
which is hereafter acquired, by Borrower which is so related to the Land and
Improvements

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forming part of the Property
that it is deemed fixtures or real property under the law of the particular
state in which the Land is located, including, without limitation, all building
or construction materials intended for construction, reconstruction, alteration
or repair of or installation on the Property, construction equipment,
appliances, machinery, plant equipment, fittings, apparatuses, fixtures and
other items now or hereafter attached to, installed in or used in connection
with (temporarily or permanently) any of the Improvements or the Land,
including, but not limited to, engines, devices for the operation of pumps,
pipes, plumbing, call and sprinkler systems, fire extinguishing apparatuses and
equipment, heating, ventilating, incinerating, electrical, air conditioning and
air cooling equipment and systems, gas and electric machinery, appurtenances
and equipment, pollution control equipment, security systems, disposals,
dishwashers, refrigerators and ranges, recreational equipment and facilities of
all kinds, and water, gas, electrical, storm and sanitary sewer facilities,
utility lines and equipment (whether owned individually or jointly with others,
and, if owned jointly, to the extent of Borrower’s interest therein) and all
other utilities whether or not situated in easements, all water tanks, water
supply, water power sites, fuel stations, fuel tanks, fuel supply, and all
other structures, together with all accessions, appurtenances, additions,
replacements, betterments and substitutions for any of the foregoing and the
proceeds thereof (collectively, the “Fixtures”).  Notwithstanding the foregoing, “Fixtures” shall not include any property
which tenants are entitled to remove pursuant to leases except to the extent
that Borrower shall have any right or interest therein;

(j)            Personal Property.  All furniture, furnishings, objects of art,
machinery, goods, tools, supplies, appliances, general intangibles, contract
rights, accounts, accounts receivable, franchises, licenses, certificates and permits,
and all other personal property of any kind or character whatsoever as defined
in and subject to the provisions of the Uniform Commercial Code, whether
tangible or intangible, other than Fixtures, which are now or hereafter owned
by Borrower and which are located within or about the Land and the
Improvements, together with all accessories, replacements and substitutions
thereto or therefor and the proceeds thereof (collectively, the “Personal Property”), and the right, title
and interest of Borrower in and to any of the Personal Property which may be
subject to any security interests, as defined in the Uniform Commercial Code,
as adopted and enacted by the state or states where any of the Property is
located (the “Uniform Commercial Code”),
superior in lien to the lien of this Security Instrument and all proceeds and
products of the above;

(k)           Leases and Rents.  All leases, subleases or subsubleases,
lettings, licenses, concessions or other agreements (whether written or oral)
pursuant to which any Person is granted a possessory interest in, or right to
use or occupy all or any portion of the Land and the Improvements, and every
modification, amendment or other agreement relating to such leases, subleases,
subsubleases, or other agreements entered into in connection with such leases,
subleases, subsubleases, or other agreements and every guarantee of the
performance and observance of the covenants, conditions and agreements to be
performed and observed by the other party thereto, heretofore or hereafter
entered into (collectively, the “Leases”),
whether before or after the filing by or against Borrower of any petition for
relief under the Bankruptcy Code and all right, title and interest of Borrower,
its successors and assigns therein and thereunder, including,

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without limitation, cash or
securities deposited thereunder to secure the performance by the lessees of
their obligations thereunder and all rents, additional rents, revenues, early
termination fees or payments or other termination fees or payments thereof,
issues and profits (including all oil and gas or other mineral royalties and
bonuses) from the Land and the Improvements whether paid or accruing before or
after the filing by or against Borrower of any petition for relief under the
Bankruptcy Code (collectively, the “Rents”)
and all proceeds from the sale or other disposition of the Leases and the right
to receive and apply the Rents to the payment of the Debt;

(l)            Condemnation Awards.  All condemnation awards, including interest
thereon, which may heretofore and hereafter be made with respect to the
Property by reason of any taking or condemnation, whether from the exercise of
the right of eminent domain (including, but not limited to, any transfer made
in lieu of or in anticipation of the exercise of the right), or for a change of
grade, or for any other injury to or decrease in the value of the Property
(collectively, the “Awards”);

(m)          Insurance Proceeds.  All insurance proceeds in respect of the
Property under any insurance policies covering the Property, including, without
limitation, the right to receive and apply the proceeds of any insurance,
judgments, or settlements made in lieu thereof, for damage to the Property
(collectively, the “Insurance Proceeds”);

(n)           Tax Certiorari.  All refunds, rebates or credits in connection
with reduction in real estate taxes and assessments charged against the
Property as a result of tax certiorari or any applications or proceedings for
reduction;

(o)           Conversion.  All proceeds of the conversion, voluntary or
involuntary, of any of the foregoing including, without limitation, Insurance
Proceeds and Awards, into cash or liquidation claims;

(p)           Rights.  The right, in the name and on behalf of
Borrower, to appear in and defend any action or proceeding brought with respect
to the Property and to commence any action or proceeding to protect the
interest of Lender in the Property;

(q)           Agreements.  All agreements, contracts, certificates,
instruments, franchises, permits, licenses, plans, specifications and other documents,
now or hereafter entered into, and all rights therein and thereto, respecting
or pertaining to the use, occupation, construction, management or operation of
the Land and any part thereof and any Improvements or any business or activity
conducted on the Land and any part thereof and all right, title and interest of
Borrower therein and thereunder, including, without limitation, the right, upon
the happening of any default hereunder, to receive and collect any sums payable
to Borrower thereunder;

(r)            Trademarks.  All tradenames, trademarks, servicemarks,
logos, copyrights, goodwill, books and records and all other general
intangibles relating to or used in connection with the operation of the
Property;

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(s)           Accounts.  All reserves, escrows and deposit accounts
maintained by Borrower with respect to the Property, including, without
limitation, all accounts established or maintained pursuant to (i) the Cash
Management Agreement and (ii) the Clearing Account Agreement; together with all
deposits or wire transfers made to such accounts and all cash, checks, drafts,
certificates, securities, investment property, financial assets, instruments
and other property held therein from time to time and all proceeds, products,
distributions or dividends or substitutions thereon and thereof;

(t)            Other Rights.  Any and all other rights of Borrower in and
to the items set forth in Subsections (a) through (s) above.

AND without limiting any
of the other provisions of this Security Instrument, to the extent permitted by
applicable law, Borrower expressly grants to Lender, as secured party, a
security interest in the portion of the Property which is or may be subject to
the provisions of the Uniform Commercial Code which are applicable to secured
transactions; it being understood and agreed that the Improvements and Fixtures
are part and parcel of the Land (the Land, the Improvements and the Fixtures
collectively referred to as the “Real
Property”) appropriated to the use thereof and, whether affixed or
annexed to the Real Property or not, shall for the purposes of this Security
Instrument be deemed conclusively to be real estate and conveyed hereby.

Section
1.2            Assignment of Rents.  Borrower hereby absolutely and
unconditionally assigns to Lender all of Borrower’s right, title and interest
in and to all current and future Leases and Rents; it being intended by
Borrower that this assignment constitutes a present, absolute assignment and
not an assignment for additional security only. 
Nevertheless, subject to the terms of the Assignment of Leases, the Cash
Management Agreement and Section 7.1(h) of this Security Instrument, Lender
grants to Borrower a revocable license to collect, receive, use and enjoy the
Rents and Borrower shall hold the Rents, or a portion thereof sufficient to
discharge all current sums due on the Debt, for use in the payment of such
sums.

Section
1.3            Security Agreement.  This Security Instrument is both a real
property deed to secure debt and a “security agreement” within the meaning of
the Uniform Commercial Code.  The
Property includes both real and personal property and all other rights and
interests, whether tangible or intangible in nature, of Borrower in the
Property.  By executing and delivering
this Security Instrument, Borrower hereby grants to Lender, as security for the
Obligations (hereinafter defined), a security interest in the Fixtures, the
Equipment and the Personal Property to the full extent that the Fixtures, the
Equipment and the Personal Property may be subject to the Uniform Commercial Code
(said portion of the Property so subject to the Uniform Commercial Code being
called the “Collateral”).  If an Event of Default shall occur and be
continuing, Lender, in addition to any other rights and remedies which it may
have, shall have and may exercise immediately and without demand, any and all
rights and remedies granted to a secured party upon default under the Uniform
Commercial Code, including, without limiting the generality of the foregoing,
the right to take possession of the Collateral or any part thereof, and to take
such other measures as Lender may deem necessary for the care, protection and
preservation of the Collateral.  Upon
request or demand of Lender after

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the occurrence and during the
continuance of an Event of Default, Borrower shall, at its expense, assemble
the Collateral and make it available to Lender at a convenient place (at the
Land if tangible property) reasonably acceptable to Lender.  Borrower shall pay to Lender on demand any
and all expenses, including reasonable legal expenses and attorneys’ fees,
incurred or paid by Lender in protecting its interest in the Collateral and in
enforcing its rights hereunder with respect to the Collateral after the
occurrence and during the continuance of an Event of Default.  Any notice of sale, disposition or other
intended action by Lender with respect to the Collateral sent to Borrower in
accordance with the provisions hereof at least ten (10) Business Days prior to
such action, shall, except as otherwise provided by applicable law, constitute
reasonable notice to Borrower.  The
proceeds of any disposition of the Collateral, or any part thereof, may, except
as otherwise required by applicable law, be applied by Lender to the payment of
the Debt in such priority and proportions as Lender in its discretion shall
deem proper.  Borrower’s (debtor’s)
principal place of business is as set forth on page one hereof and the address
of Lender (secured party) is as set forth on page one hereof.

Section
1.4            Fixture Filing.  Certain of the Property is or will become “fixtures” (as that term is defined in the
Uniform Commercial Code) on the Land, and this Security Instrument, upon being
filed for record in the real estate records of the city or county wherein such
fixtures are situated, shall operate also as a financing statement filed as a
fixture filing in accordance with the applicable provisions of said Uniform
Commercial Code upon such of the Property that is or may become fixtures.  The addresses of the Debtor (Borrower) and
the Secured Party (Lender) are set forth in the first paragraph hereof.

Section
1.5            Pledges of Monies Held.  Borrower hereby pledges to Lender any and all
monies now or hereafter held by Lender or on behalf of Lender, including,
without limitation, any sums deposited in the Clearing Account, the Cash
Management Account, the Reserve Funds and Net Proceeds, as additional security
for the Obligations until expended or applied as provided in this Security
Instrument.

CONDITIONS TO GRANT

TO HAVE
AND TO HOLD the above granted and described Property unto
Lender and to the use and benefit of Lender and its successors and assigns,
forever;

WITH
POWER OF SALE, to secure payment to Lender of the Obligations
at the time and in the manner provided for its payment in the Note and in this
Security Instrument.

PROVIDED,
HOWEVER, these presents are upon the express condition that,
if Borrower shall well and truly pay to Lender the Debt at the time and in the
manner provided in the Note, the Loan Agreement and this Security Instrument,
shall well and truly perform the Other Obligations as set forth in this
Security Instrument and shall well and truly abide by and comply with each and
every covenant and condition set forth herein and in the Note, the Loan
Agreement and the other Loan Documents, these presents and the estate hereby
granted shall cease, terminate and be void; provided,

 7
 

 

however, that
Borrower’s obligation to indemnify and hold harmless Lender pursuant to the
provisions hereof shall survive any such payment or release.

ARTICLE II - DEBT AND OBLIGATIONS SECURED

Section
2.1            Debt.  This Security Instrument and the grants,
assignments and transfers made in Article I are given for the purpose of
securing the Debt.

Section
2.2            Other Obligations.  This Security Instrument and the grants,
assignments and transfers made in Article I are also given for the purpose of
securing the following (the “Other
Obligations”):

(a)           the performance of all other
obligations of Borrower contained herein;

(b)           the performance of each obligation of
Borrower contained in the Loan Agreement and any other Loan Document; and

(c)           the performance of each obligation of
Borrower contained in any renewal, extension, amendment, modification,
consolidation, change of, or substitution or replacement for, all or any part
of the Note, the Loan Agreement or any other Loan Document.

(d)           Debt and Other Obligations.  Borrower’s obligations for the payment of the
Debt and the performance of the Other Obligations shall be referred to
collectively herein as the “Obligations.”

ARTICLE III - BORROWER COVENANTS

Borrower covenants and
agrees that:

Section
3.1            Payment of Debt.  Borrower will pay the Debt at the time and in
the manner provided in the Loan Agreement, the Note and this Security
Instrument.

Section
3.2            Incorporation by Reference.  All the covenants, conditions and agreements
contained in (a) the Loan Agreement, (b) the Note and (c) all and any of the
other Loan Documents, are hereby made a part of this Security Instrument to the
same extent and with the same force as if fully set forth herein.

Section
3.3            Insurance.  Borrower shall obtain and maintain, or cause
to be maintained, in full force and effect at all times insurance with respect
to Borrower and the Property as required pursuant to the Loan Agreement.

Section
3.4            Maintenance of Property.  Borrower shall cause the Property to be
maintained in a good and safe condition and repair.  The Improvements, the Fixtures, the Equipment
and the Personal Property shall not be removed, demolished or materially
altered (except for normal replacement of the Fixtures, the Equipment or the

 8
 

 

Personal Property, tenant
finish and refurbishment of the Improvements and for the disposal of Fixtures,
Equipment or Personal Property not material to the use or value of the Property
as an office building) without the consent of Lender.  Borrower shall promptly repair, replace or
rebuild any part of the Property which may be destroyed by any Casualty or
become damaged, worn or dilapidated or which may be affected by any
Condemnation, and shall complete and pay for any structure at any time in the
process of construction or repair on the Land.

Section
3.5            Waste.  Borrower shall not commit or suffer any waste
of the Property or make any change in the use of the Property which will in any
way materially increase the risk of fire or other hazard arising out of the
operation of the Property, or take any action that might invalidate or allow
the cancellation of any Policy, or do or permit to be done thereon anything
that may in any way materially impair the value of the Property or the security
of this Security Instrument.  Borrower
will not, without the prior written consent of Lender, permit any drilling or
exploration for or extraction, removal, or production of any minerals from the
surface or the subsurface of the Land, regardless of the depth thereof or the
method of mining or extraction thereof.

Section
3.6            Payment for Labor and Materials.  (a) 
Subject to Section 3.6(b), Borrower will promptly pay when due all bills
and costs for labor, materials, and specifically fabricated materials (“Labor and Material Costs”) incurred in
connection with the Property and never permit to exist beyond the due date
thereof in respect of the Property or any part thereof any lien or security
interest, even though inferior to the liens and the security interests hereof,
and in any event never permit to be created or exist in respect of the Property
or any part thereof any other or additional lien or security interest other
than the liens or security interests hereof except for the Permitted
Encumbrances and other Liens permitted pursuant to the Loan Documents.

(b)           After prior written notice to Lender,
Borrower, at its own expense, may contest by appropriate legal proceeding,
promptly initiated and conducted in good faith and with due diligence, the
amount or validity or application in whole or in part of any of the Labor and
Material Costs, provided that (i) no Event of Default has occurred and is
continuing under the Loan Agreement, the Note, this Security Instrument or any
of the other Loan Documents, (ii) Borrower is permitted to do so under the
provisions of any other mortgage, deed of trust or deed to secure debt
affecting the Property, (iii) such proceeding shall suspend the collection of
the Labor and Material Costs from Borrower and from the Property or Borrower
shall have paid all of the Labor and Material Costs (or such portion thereof as
to which collection is not suspended) under protest, (iv) such proceeding shall
be permitted under and be conducted in accordance with the provisions of any
other instrument to which Borrower is subject and shall not constitute a
default thereunder, (v) neither the Property nor any part thereof or interest
therein will be in immediate danger of being sold, forfeited, terminated,
canceled or lost, and (vi) Borrower shall have furnished the security as may be
required in the proceeding, or as may be reasonably requested by Lender to
insure the payment of any contested Labor and Material Costs, together with all
interest and penalties thereon.

 9
 

 

Section
3.7            Performance of Other Agreements.  Borrower shall observe and perform each and
every term, covenant and provision to be observed or performed by Borrower
pursuant to the Loan Agreement, any other Loan Document and any other agreement
or recorded instrument affecting or pertaining to the Property and any
amendments, modifications or changes thereto.

Section
3.8            Change of Name, Identity or Structure.  Borrower shall not change Borrower’s name,
identity (including its trade name or names) or, if not an individual, Borrower’s
corporate, partnership or other structure without notifying Lender of such
change in writing at least thirty (30) days prior to the effective date of such
change and, in the case of a change in Borrower’s structure, without first
obtaining the prior written consent of Lender. 
Borrower shall execute and deliver to Lender, prior to or
contemporaneously with the effective date of any such change, any financing
statement or financing statement change required by Lender to establish or
maintain the validity, perfection and priority of the security interest granted
herein.  At the request of Lender,
Borrower shall execute a certificate in form satisfactory to Lender listing the
trade names under which Borrower intends to operate the Property, and
representing and warranting that Borrower does business under no other trade
name with respect to the Property.

Section
3.9            Title.  Borrower has good, marketable and insurable
title to the Property and has the right to mortgage, grant, bargain, sell,
pledge, assign, warrant, transfer and convey the same.  Borrower possesses an unencumbered fee and/or
leasehold estate in the Land and the Improvements, free and clear of all Liens
(as defined in the Loan Agreement) whatsoever except the Permitted Encumbrances
(as defined in the Loan Agreement), such other Liens as are permitted pursuant
to the Loan Documents and the Liens created by the Loan Documents.  The Permitted Encumbrances in the aggregate
do not materially and adversely affect the value, operation or use of the
Property or Borrower’s ability to repay the Loan.  This Security Instrument, when properly
recorded in the appropriate records, together with any Uniform Commercial Code
financing statements required to be filed in connection therewith, will create
(a) a valid, perfected first priority lien on that portion of the Property
constituting interests in real estate, subject only to Permitted Encumbrances
and the Liens created by the Loan Documents and (b) to the extent that a
security interest therein maybe perfected by the filing of financing statements
under the Uniform Commercial Code, perfected security interests in and to, and
perfected collateral assignments of, all personalty (including, to the extent
that they constitute personalty subject to the Uniform Commercial Code, the
Leases), all in accordance with the terms thereof, in each case subject only to
any applicable Permitted Encumbrances, such other Liens as are permitted
pursuant to the Loan Documents and the Liens created by the Loan
Documents.  There are no claims for
payment for work, labor or materials affecting the Property which are past due
and are or may become a lien prior to, or of equal priority with, the Liens
created by the Loan Documents unless such claims for payments are being
contested in accordance with the terms and conditions of this Security
Instrument.

 10
 

 

ARTICLE IV - OBLIGATIONS AND RELIANCES

Section
4.1            Relationship of Borrower and Lender.  The relationship between Borrower and Lender
is solely that of debtor and creditor, and Lender has no fiduciary or other
special relationship with Borrower, and no term or condition of the Loan
Agreement, the Note, this Security Instrument and the other Loan Documents
shall be construed so as to deem the relationship between Borrower and Lender
to be other than that of debtor and creditor.

Section
4.2            No Reliance on Lender.  The general partners, members, principals and
(if Borrower is a trust) beneficial owners of Borrower are experienced in the
ownership and operation of properties similar to the Property, and Borrower and
Lender are relying solely upon such expertise and business plan in connection
with the ownership and operation of the Property.  Borrower is not relying on Lender’s
expertise, business acumen or advice in connection with the Property.

Section
4.3            No Lender Obligations.  (a) 
Notwithstanding the provisions of Subsections 1.1(h) and (n) or Section
1.2, Lender is not undertaking the performance of (i) any obligations under the
Leases; or (ii) any obligations with respect to such agreements, contracts,
certificates, instruments, franchises, permits, trademarks, licenses and other
documents.

(b)           By accepting or approving anything
required to be observed, performed or fulfilled or to be given to Lender
pursuant to this Security Instrument, the Loan Agreement, the Note or the other
Loan Documents, including, without limitation, any Officer’s Certificate,
balance sheet, statement of profit and loss or other financial statement,
survey, appraisal, or Policy, Lender shall not be deemed to have warranted,
consented to, or affirmed the sufficiency, the legality or effectiveness of
same, and such acceptance or approval thereof shall not constitute any warranty
or affirmation with respect thereto by Lender.

Section
4.4            Reliance.  Borrower recognizes and acknowledges that in
accepting the Loan Agreement, the Note, this Security Instrument and the other
Loan Documents, Lender is expressly and primarily relying on the truth and
accuracy of the warranties and representations set forth in Section 4.1 of the
Loan Agreement without any obligation to investigate the Property and
notwithstanding any investigation of the Property by Lender; that such reliance
existed on the part of Lender prior to the date hereof, that the warranties and
representations are a material inducement to Lender in making the Loan; and
that Lender would not be willing to make the Loan and accept this Security
Instrument in the absence of the warranties and representations as set forth in
Section 4.1 of the Loan Agreement.

ARTICLE V - FURTHER ASSURANCES

Section
5.1            Recording of Security Instrument, etc.  Borrower forthwith upon the execution and
delivery of this Security Instrument and thereafter, from time to time upon
Lender’s request, will cause this Security Instrument and any of the

 11
 

 

other Loan Documents creating a
lien or security interest or evidencing the lien hereof upon the Property and
each instrument of further assurance to be filed, registered or recorded in
such manner and in such places as may be required by any present or future law
in order to publish notice of and fully to protect and perfect the lien or
security interest hereof upon, and the interest of Lender in, the
Property.  Borrower will pay all taxes,
filing, registration or recording fees, and all expenses incident to the
preparation, execution, acknowledgment and/or recording of the Note, this
Security Instrument, the other Loan Documents, any note, deed of trust or
mortgage supplemental hereto, any security instrument with respect to the Property
and any instrument of further assurance, and any modification or amendment of
the foregoing documents, and all federal, state, county and municipal taxes,
duties, imposts, assessments and charges arising out of or in connection with
the execution and delivery of this Security Instrument, any deed of trust or
mortgage supplemental hereto, any security instrument with respect to the
Property or any instrument of further assurance, and any modification or
amendment of the foregoing documents, except where prohibited by law so to do.

Section
5.2            Further Acts, etc.  Borrower will, at the cost of Borrower, and
without expense to Lender, do, execute, acknowledge and deliver all and every
further acts, deeds, conveyances, deeds of trust, deeds to secure debt, assignments,
notices of assignments, transfers and assurances as Lender shall, from time to
time, reasonably require, for the better assuring, conveying, assigning,
transferring, and confirming unto Lender the property and rights hereby
secured, deeded, granted, bargained, sold, conveyed, confirmed, pledged,
assigned, warranted and transferred or intended now or hereafter so to be, or
which Borrower may be or may hereafter become bound to convey or assign to
Lender, or for carrying out the intention or facilitating the performance of
the terms of this Security Instrument or for filing, registering or recording
this Security Instrument, or for complying with all Legal Requirements.  Borrower, on demand, will execute and
deliver, and in the event it shall fail to so execute and deliver, hereby
authorizes Lender to execute in the name of Borrower or without the signature
of Borrower to the extent Lender may lawfully do so, one or more financing
statements to evidence more effectively the security interest of Lender in the
Property.  Borrower grants to Lender an
irrevocable power of attorney coupled with an interest for the purpose of
exercising and perfecting any and all rights and remedies available to Lender
at law and in equity, including without limitation, such rights and remedies
available to Lender pursuant to this Section 5.2.

Section
5.3            Changes in Tax, Debt, Credit and Documentary Stamp
Laws.  (a)  If any law is enacted or adopted or amended
after the date of this Security Instrument which deducts the Debt from the
value of the Property for the purpose of taxation or which imposes a tax,
either directly or indirectly, on the Debt or Lender’s interest in the Property
(other than the inclusion of such amounts as income for income tax purposes or
taxes on Lender’s capital), Borrower will pay the tax, with interest and
penalties thereon, if any.  If Lender is
advised by counsel chosen by it that the payment of tax by Borrower would be
unlawful or taxable to Lender or unenforceable or provide the basis for a defense
of usury, then Lender shall have the option by written notice of not less than
one hundred twenty (120) days to declare the Debt immediately due and
payable.  If so accelerated, Borrower
shall repay the Loan without premium or penalty.

 12
 

 

(b)           Borrower will not claim or demand or
be entitled to any credit or credits on account of the Debt for any part of the
Taxes or Other Charges assessed against the Property, or any part thereof, and
no deduction shall otherwise be made or claimed from the assessed value of the
Property, or any part thereof, for real estate tax purposes by reason of this
Security Instrument or the Debt.  If such
claim, credit or deduction shall be required by law, Lender shall have the
option, by written notice of not less than one hundred twenty (120) days, to
declare the Debt immediately due and payable. 
If so accelerated, Borrower shall repay the Loan without premium or
penalty.

(c)           If at any time the United States of
America, any State thereof or any subdivision of any such State shall require
revenue or other stamps to be affixed to the Note, this Security Instrument, or
any of the other Loan Documents or impose any other tax or charge on the same,
Borrower will pay for the same, with interest and penalties thereon, if any.

Section
5.4            Severing of Security Instrument.  This Security Instrument and the Note shall,
at any time until the same shall be fully paid and satisfied, at the sole
election of Lender, be severed into two or more notes and two or more security
instruments in such denominations as Lender shall determine in its sole
discretion, each of which shall cover all or a portion of the Property to be
more particularly described therein.  To
that end, Borrower, upon written request of Lender, shall execute, acknowledge
and deliver, or cause to be executed, acknowledged and delivered by the then
owner of the Property, to Lender and/or its designee or designees substitute
notes and security instruments in such principal amounts, aggregating not more
than the then unpaid principal amount of the Note, and containing terms,
provisions and clauses similar to, and no more onerous to Borrower than, those
contained herein and in the Note, and such other documents and instruments as
may be required by Lender; provided that Borrower’s obligations are not
materially increased thereby.

Section
5.5            Replacement Documents.  Upon receipt of an affidavit of an officer of
Lender as to the loss, theft, destruction or mutilation of the Note or any
other Loan Document which is not of public record, and, in the case of any such
mutilation, upon surrender and cancellation of such Note or other Loan
Document, Borrower will issue, in lieu thereof, a replacement Note or other
Loan Document, dated the date of such lost, stolen, destroyed or mutilated Note
or other Loan Document in the same principal amount thereof and otherwise of
like tenor.

ARTICLE VI - DUE ON SALE/ENCUMBRANCE

Section
6.1            Lender Reliance.  Borrower acknowledges that Lender has
examined and relied on the experience of Borrower and its general partners,
members, principals and (if Borrower is a trust) beneficial owners in owning
and operating properties such as the Property in agreeing to make the Loan, and
will continue to rely on Borrower’s ownership of the Property as a means of
maintaining the value of the Property as security for repayment of the Debt and
the performance of the Other Obligations. 
Borrower acknowledges that Lender has a valid interest in maintaining
the value of the Property so as to ensure that, should Borrower default in the
repayment of

 13
 

 

the Debt or the performance of
the Other Obligations, Lender can recover the Debt by a sale of the Property.

Section
6.2            No Sale/Encumbrance.  Neither Borrower nor any Restricted Party
shall Transfer the Property or any part thereof or any interest therein or
permit or suffer the Property or any part thereof or any interest therein to be
Transferred other than as expressly permitted pursuant to the terms of the Loan
Agreement.

ARTICLE VII - RIGHTS AND REMEDIES UPON DEFAULT

Section
7.1            Remedies.  Upon the occurrence and during the
continuance of any Event of Default, Borrower agrees that Lender may take such
action, without notice or demand, as it deems advisable to protect and enforce
its rights against Borrower and in and to the Property, including, but not
limited to, the following actions, each of which may be pursued concurrently or
otherwise, at such time and in such order as Lender may determine, in its sole
discretion, without impairing or otherwise affecting the other rights and remedies
of Lender:

(a)           declare the entire unpaid Debt to be
immediately due and payable;

(b)           institute proceedings, judicial or
otherwise, for the complete foreclosure of this Security Instrument under any
applicable provision of law, in which case the Property or any interest therein
may be sold for cash or upon credit in one or more parcels or in several
interests or portions and in any order or manner;

(c)           with or without entry, to the extent
permitted and pursuant to the procedures provided by applicable law, institute
proceedings for the partial foreclosure of this Security Instrument for the
portion of the Debt then due and payable, subject to the continuing lien and
security interest of this Security Instrument for the balance of the Debt not
then due, unimpaired and without loss of priority;

(d)           sell for cash or upon credit the
Property or any part thereof and all estate, claim, demand, right, title and
interest of Borrower therein and rights of redemption thereof, pursuant to
power of sale or otherwise, at one or more sales, as an entirety or in parcels,
at such time and place, upon such terms and after such notice thereof as may be
required or permitted by law;

(e)           institute an action, suit or
proceeding in equity for the specific performance of any covenant, condition or
agreement contained herein, in the Note, the Loan Agreement or in the other
Loan Documents;

(f)            recover judgment on the Note either
before, during or after any proceedings for the enforcement of this Security
Instrument or the other Loan Documents;

(g)           apply for the appointment of a
receiver, trustee, liquidator or conservator of the Property, without notice
and without regard for the adequacy of the security for the Debt and without
regard for the solvency of Borrower, any Guarantor or

 14
 

 

Indemnifying Person with
respect to the Loan or of any Person liable for the payment of the Debt;

(h)           the license granted to Borrower under
Section 1.2 hereof shall automatically be revoked and Lender may enter into or
upon the Property, either personally or by its agents, nominees or attorneys
and dispossess Borrower and its agents and servants therefrom, without
liability for trespass, damages or otherwise and exclude Borrower and its
agents or servants wholly therefrom, and take possession of all books, records
and accounts relating thereto and Borrower agrees to surrender possession of
the Property and of such books, records and accounts to Lender upon demand, and
thereupon Lender may (i) use, operate, manage, control, insure, maintain,
repair, restore and otherwise deal with all and every part of the Property and
conduct the business thereat; (ii) complete any construction on the Property in
such manner and form as Lender deems advisable; (iii) make alterations,
additions, renewals, replacements and improvements to or on the Property; (iv)
exercise all rights and powers of Borrower with respect to the Property,
whether in the name of Borrower or otherwise, including, without limitation,
the right to make, cancel, enforce or modify Leases, obtain and evict tenants,
and demand, sue for, collect and receive all Rents of the Property and every
part thereof; (v) require Borrower to pay monthly in advance to Lender, or any
receiver appointed to collect the Rents, the fair and reasonable rental value
for the use and occupation of such part of the Property as may be occupied by
Borrower; (vi) require Borrower to vacate and surrender possession of the
Property to Lender or to such receiver and, in default thereof, Borrower may be
evicted by summary proceedings or otherwise; and (vii) apply the receipts from
the Property to the payment of the Debt, in such order, priority and
proportions as Lender shall deem appropriate in its sole discretion after
deducting therefrom all expenses (including reasonable attorneys’ fees)
incurred in connection with the aforesaid operations and all amounts necessary
to pay the Taxes, Other Charges, Insurance Premium and other expenses in
connection with the Property, as well as just and reasonable compensation for
the services of Lender, its counsel, agents and employees;

(i)            exercise any and all rights and
remedies granted to a secured party upon default under the Uniform Commercial
Code, including, without limiting the generality of the foregoing:  (i) the right to take possession of the
Fixtures, the Equipment, the Personal Property or any part thereof, and to take
such other measures as Lender may deem necessary for the care, protection and
preservation of the Fixtures, the Equipment, the Personal Property, and (ii)
request Borrower at its expense to assemble the Fixtures, the Equipment, the
Personal Property and make it available to Lender at a convenient place
acceptable to Lender.  Any notice of
sale, disposition or other intended action by Lender with respect to the
Fixtures, the Equipment, the Personal Property sent to Borrower in accordance
with the provisions hereof at least ten (10) days prior to such action, shall
constitute commercially reasonable notice to Borrower;

(j)            apply any sums then deposited or
held in escrow or otherwise by or on behalf of Lender in accordance with the
terms of the Loan Agreement, this Security Instrument or any other Loan
Document to the payment of the following items in any order in its uncontrolled
discretion:

 15
 

 

(i)            Taxes
and Other Charges;

(ii)           Insurance
Premiums;

(iii)          Interest
on the unpaid principal balance of the Note;

(iv)          Amortization
of the unpaid principal balance of the Note;

(v)           All
other sums payable pursuant to the Note, the Loan Agreement, this Security
Instrument and the other Loan Documents, including without limitation advances
made by Lender pursuant to the terms of this Security Instrument;

(k)           pursue such other remedies as Lender
may have under applicable law; or

(l)            apply the undisbursed balance of any
Net Proceeds Deficiency deposit, together with interest thereon, to the payment
of the Debt in such order, priority and proportions as Lender shall deem to be
appropriate in its discretion.

In the event of a sale,
by foreclosure, power of sale or otherwise, of less than all of the Property,
this Security Instrument shall continue as a lien and security interest on the
remaining portion of the Property unimpaired and without loss of priority.

Section
7.2            Application of Proceeds.  The purchase money, proceeds and avails of
any disposition of the Property, and or any part thereof, or any other sums
collected by Lender pursuant to the Note, this Security Instrument or the other
Loan Documents, may be applied by Lender to the payment of the Debt in such
priority and proportions as Lender in its discretion shall deem proper.

Section
7.3            Right to Cure Defaults.  Upon the occurrence and during the
continuance of any Event of Default, Lender may, but without any obligation to
do so and without notice to or demand on Borrower and without releasing
Borrower from any obligation hereunder, make any payment or do any act required
of Borrower hereunder in such manner and to such extent as Lender may deem
necessary to protect the security hereof. 
Lender is authorized to enter upon the Property for such purposes, or
appear in, defend, or bring any action or proceeding to protect its interest in
the Property or to foreclose this Security Instrument or collect the Debt, and
the cost and expense thereof (including reasonable attorneys’ fees to the
extent permitted by law), with interest as provided in this Section 7.3, shall
constitute a portion of the Debt and shall be due and payable to Lender upon
demand.  All such costs and expenses
incurred by Lender in remedying such Event of Default or such failed payment or
act or in appearing in, defending, or bringing any such action or proceeding
shall bear interest at the Default Rate, for the period after notice from
Lender that such cost or expense was incurred to the date of payment to Lender.  All such costs and expenses incurred by
Lender together with interest thereon calculated at the Default Rate shall be
deemed to constitute a portion of

 16
 

 

the Debt and be secured by this
Security Instrument and the other Loan Documents and shall be immediately due
and payable upon demand by Lender therefor.

Section
7.4            Actions and Proceedings.  Lender has the right to appear in and defend
any action or proceeding brought with respect to the Property and to bring any
action or proceeding, in the name and on behalf of Borrower, which Lender, in
its discretion, decides should be brought to protect its interest in the
Property.

Section
7.5            Recovery of Sums Required To Be Paid.  Lender shall have the right from time to time
to take action to recover any sum or sums which constitute a part of the Debt
as the same become due, without regard to whether or not the balance of the
Debt shall be due, and without prejudice to the right of Lender thereafter to
bring an action of foreclosure, or any other action, for a default or defaults
by Borrower existing at the time such earlier action was commenced.

Section
7.6            Examination of Books and Records.  At reasonable times and upon reasonable
notice, Lender, its agents, accountants and attorneys shall have the right to
examine the records, books, management and other papers of Borrower which
reflect upon the financial condition of the Property or of Borrower, at the
Property or at any office regularly maintained by Borrower where the books and
records are located.  Lender and its
agents shall have the right to make copies and extracts from the foregoing
records and other papers.  In addition,
at reasonable times and upon reasonable notice, Lender, its agents, accountants
and attorneys shall have the right to examine and audit the books and records
of Borrower pertaining to the income, expenses and operation of the Property
during reasonable business hours at any office of Borrower where the books and
records are located.  This Section 7.6
shall apply throughout the term of the Note and without regard to whether an
Event of Default has occurred or is continuing.

Section
7.7            Other Rights, etc.  (a) 
The failure of Lender to insist upon strict performance of any term
hereof shall not be deemed to be a waiver of any term of this Security
Instrument.  Borrower shall not be
relieved of Borrower’s obligations hereunder by reason of (i) the failure of
Lender to comply with any request of Borrower or any Guarantor or Indemnifying
Person with respect to the Loan to take any action to foreclose this Security Instrument
or otherwise enforce any of the provisions hereof or of the Note or the other
Loan Documents, (ii) the release, regardless of consideration, of the whole or
any part of the Property, or of any person liable for the Debt or any portion
thereof, or (iii) any agreement or stipulation by Lender extending the time of
payment or otherwise modifying or supplementing the terms of the Note, this
Security Instrument or the other Loan Documents.

(b)           It is agreed that the risk of loss or
damage to the Property is on Borrower, and Lender shall have no liability
whatsoever for decline in value of the Property, for failure to maintain the
Policies, or for failure to determine whether the insurance in force is
adequate as to the amount of risks insured. 
Possession by Lender shall not be deemed an election of judicial relief
if any such possession is requested or obtained with respect to any Property or
collateral not in Lender’s possession.

 17

 

(c)           Lender may resort for the payment of the Debt to any other
security held by Lender in such order and manner as Lender, in its discretion,
may elect.  Lender may take action to
recover the Debt, or any portion thereof, or to enforce any covenant hereof without
prejudice to the right of Lender thereafter to foreclose this Security
Instrument.  The rights of Lender under
this Security Instrument shall be separate, distinct and cumulative and none
shall be given effect to the exclusion of the others.  No act of Lender shall be construed as an
election to proceed under any one provision herein to the exclusion of any
other provision.  Lender shall not be
limited exclusively to the rights and remedies herein stated but shall be
entitled to every right and remedy now or hereafter afforded at law or in
equity.

Section
7.8            Right to Release Any Portion of the Property.  Lender may release any portion of the
Property for such consideration as Lender may require without, as to the
remainder of the Property, in any way impairing or affecting the lien or
priority of this Security Instrument, or improving the position of any
subordinate lienholder with respect thereto, except to the extent that the
obligations hereunder shall have been reduced by the actual monetary consideration,
if any, received by Lender for such release, and may accept by assignment,
pledge or otherwise any other property in place thereof as Lender may require
without being accountable for so doing to any other lienholder.  This Security Instrument shall continue as a
lien and security interest in the remaining portion of the Property.

Section
7.9            Violation of Laws.  If the Property is not in material compliance
with Legal Requirements, Lender may impose additional requirements upon
Borrower in connection herewith including, without limitation, monetary
reserves or financial equivalents.

Section
7.10         Recourse and Choice of Remedies.  The provisions of Section 9.3 of the Loan
Agreement are hereby incorporated by reference into this Security Instrument to
the same extent and with the same force as if fully set forth herein.

Section
7.11         Right of Entry.  Upon reasonable notice to Borrower, Lender
and its agents shall have the right to enter and inspect the Property at all
reasonable times.

Section
7.12         Bankruptcy.  (a) 
Upon the occurrence and during the continuance of an Event of Default,
Lender shall have the right to proceed in its own name or in the name of
Borrower in respect of any claim, suit, action or proceeding relating to the
rejection of any Lease, including, without limitation, the right to file and
prosecute, to the exclusion of Borrower, any proofs of claim, complaints,
motions, applications, notices and other documents, in any case in respect of
the lessee under such Lease under the Bankruptcy Code.

(b)           If there shall be filed by or against
Borrower a petition under the Bankruptcy Code and Borrower, as lessor under any
Lease, shall determine to reject such Lease pursuant to Section 365(a) of the
Bankruptcy Code, then Borrower shall give Lender not less than ten (10) days’
prior notice of the date on which Borrower shall apply

 18
 

 

to the bankruptcy
court for authority to reject the Lease. 
Lender shall have the right, but not the obligation, to serve upon
Borrower within such ten-day period a notice stating that (i) Lender demands
that Borrower assume and assign the Lease to Lender pursuant to Section 365 of
the Bankruptcy Code and (ii) Lender covenants to cure or provide adequate
assurance of future performance under the Lease.  If Lender serves upon Borrower the notice
described in the preceding sentence, Borrower shall not seek to reject the
Lease and shall comply with the demand provided for in clause (i) of the
preceding sentence within thirty (30) days after the notice shall have been
given, subject to the performance by Lender of the covenant provided for in
clause (ii) of the preceding sentence.

ARTICLE
VIII - ENVIRONMENTAL HAZARDS

Section
8.1            Environmental Representations and Warranties.  Except as otherwise disclosed by that certain
Phase I environmental report (or Phase II environmental report, if required)
delivered to Lender by Borrower in connection with the origination of the Loan
(such report is referred to below as the “Environmental
Report”), to Borrower’s Knowledge (a) there are no Hazardous
Substances (defined below) or underground storage tanks in, on, or under the
Property, except those that are (i) in compliance with Environmental Laws
(defined below) and with permits issued pursuant thereto (to the extent such
permits are required under Environmental Law), (ii) de-minimis amounts
necessary to operate the Property for the purposes set forth in the Loan
Agreement which will not result in an environmental condition in, on or under
the Property and which are otherwise permitted under and used in compliance
with Environmental Law and (iii) fully disclosed to Lender in writing pursuant
the Environmental Report; (b) there are no past, present or threatened Releases
(defined below) of Hazardous Substances in, on, under or from the Property which
has not been fully remediated in accordance with Environmental Law; (c) there
is no threat of any Release of Hazardous Substances migrating to the Property;
(d) there is no past or present non-compliance with Environmental Laws, or with
permits issued pursuant thereto, in connection with the Property which has not
been fully remediated in accordance with Environmental Law; (e) Borrower does
not know of, and has not received, any written or oral notice or other
communication from any Person (including but not limited to a Governmental
Authority) relating to Hazardous Substances or Remediation (defined below)
thereof, of possible liability of any Person pursuant to any Environmental Law,
other environmental conditions in connection with the Property, or any actual
or potential administrative or judicial proceedings in connection with any of
the foregoing; and (f) Borrower has truthfully and fully disclosed to Lender,
in writing, any and all information relating to environmental conditions in,
on, under or from the Property that is known to Borrower and has provided to
Lender all information that is contained in Borrower’s files and records,
including, but not limited to, any reports relating to Hazardous Substances in,
on, under or from the Property and/or to the environmental condition of the
Property.

“Environmental Law”
means any present and future federal, state and local laws, statutes,
ordinances, rules, regulations and the like, as well as common law, relating to
protection of human health or the environment with respect to exposure to
Hazardous Substances, relating to Hazardous Substances, relating to liability
for or costs

 19
 

 

of Remediation or
prevention of Releases of Hazardous Substances or relating to liability for or
costs of other actual or threatened danger to human health or the environment
with respect to exposure to Hazardous Substances.  Environmental Law includes, but is not
limited to, the following statutes, as amended, any successor thereto, and any
regulations promulgated pursuant thereto, and any state or local statutes,
ordinances, rules, regulations and the like addressing similar issues:  the Comprehensive Environmental Response,
Compensation and Liability Act; the Emergency Planning and Community
Right-to-Know Act; the Hazardous Substances Transportation Act; the Resource
Conservation and Recovery Act (including but not limited to Subtitle I relating
to underground storage tanks); the Solid Waste Disposal Act; the Clean Water
Act; the Clean Air Act; the Toxic Substances Control Act; the Safe Drinking
Water Act; the Occupational Safety and Health Act; the Federal Water Pollution
Control Act; the Federal Insecticide, Fungicide and Rodenticide Act; the
Endangered Species Act; the National Environmental Policy Act; the River and
Harbors Appropriation Act.  Environmental
Law also includes, but is not limited to, any present and future federal, state
and local laws, statutes, ordinances, rules, regulations and the like, as well
as common law:  conditioning transfer of
property upon a negative declaration or other approval of a governmental
authority of the environmental condition of the Property; requiring
notification or disclosure of Releases of Hazardous Substances or other
environmental condition of the Property to any governmental authority or other
Person, whether or not in connection with transfer of title to or interest in
property; imposing conditions or requirements relating to Hazardous Substances
in connection with permits or other authorization for lawful activity; relating
to nuisance, trespass or other causes of action in respect of Hazardous
Substances related to the Property; or, to the extent arising out of the
presence of Hazardous Substances, relating to wrongful death, personal injury,
or property or other damage in connection with any physical condition or use of
the Property.

“Hazardous Substances”
include but are not limited to any and all substances (whether solid, liquid or
gas) defined, listed, or otherwise classified as pollutants, hazardous wastes,
hazardous substances, hazardous materials, extremely hazardous wastes, or words
of similar meaning or regulatory effect under any present or future
Environmental Laws or that may have a negative impact on human health or the
environment by reason of exposure thereto, including but not limited to
petroleum and petroleum products, asbestos and asbestos-containing materials,
polychlorinated biphenyls, lead, radon, radioactive materials, flammables and
explosives, including molds or other fungi, bacteria or other microorganisms, or
any etiologic agents or materials, but excluding substances of kinds and in
amounts ordinarily and customarily used or stored in similar properties for the
purpose of cleaning or other maintenance or operations and otherwise in
compliance with all Environmental Laws.

“Release” of any
Hazardous Substance includes but is not limited to any release, deposit,
discharge, emission, leaking, spilling, seeping, migrating, injecting, pumping,
pouring, emptying, escaping, dumping, disposing or other movement of Hazardous
Substances.

 20
 

 

“Remediation”
includes but is not limited to any response, remedial, removal, or corrective
action, any activity to clean-up, detoxify, decontaminate, contain or otherwise
remediate any Hazardous Substance, any actions to prevent, cure or mitigate any
Release of any Hazardous Substance, any action to comply with any Environmental
Laws or with any permits issued pursuant thereto, any inspection,
investigation, study, monitoring, assessment, audit, sampling and testing,
laboratory or other analysis, or evaluation relating to any Hazardous
Substances or to anything referred to in Article 8.

Section
8.2            Environmental Covenants.  Borrower covenants and agrees that:  (a) Borrower shall use commercially
reasonable efforts to ensure that all uses and operations on or of the Property
shall be in compliance with all Environmental Laws and permits issued pursuant
thereto; (b) Borrower shall use commercially reasonable efforts to prevent any
Releases of Hazardous Substances in, on, under or from the Property; (c)
Borrower shall not permit any Hazardous Substances in, on, or under the
Property, except those that are (i) in compliance with all Environmental Laws
and with permits issued pursuant thereto (to the extent such permits are
required by Environmental Law), (ii) de-minimis amounts necessary to operate
the Property for the purposes set forth in the Loan Agreement which will not
result in an environmental condition in, on or under the Property and which are
otherwise permitted under and used in compliance with Environmental Law and
(iii) fully disclosed to Lender in writing; (d) Borrower shall keep the
Property free and clear of all liens and other encumbrances imposed pursuant to
any Environmental Law, whether due to any act or omission of Borrower or any
other Person (the “Environmental Liens”);
(e) Borrower shall, at its sole cost and expense, fully and expeditiously
cooperate in all activities pursuant to Section 8.3 below, including but not
limited to providing all relevant information and making knowledgeable persons
available for interviews; (f) Borrower shall, at its sole cost and expense,
perform any environmental site assessment or other investigation of
environmental conditions in connection with the Property, pursuant to any
reasonable written request of Lender made in the event that Lender has reason
to believe that an environmental hazard exists on the Property (including but
not limited to sampling, testing and analysis of soil, water, air, building
materials and other materials and substances whether solid, liquid or gas), and
share with Lender the reports and other results thereof, and Lender and other
Indemnified Parties shall be entitled to rely on such reports and other results
thereof; (g) Borrower shall, at its sole cost and expense, comply with all
reasonable written requests of Lender made in the event that Lender has reason
to believe that an environmental hazard exists on the Property to (i)
reasonably effectuate Remediation of any condition (including but not limited
to a Release of a Hazardous Substance) in, on, under or from the Property; (ii)
comply with any Environmental Law; (iii) comply with any directive from any
Governmental Authority; and (iv) take any other reasonable action necessary or
appropriate for protection of human health or the environment; (h) Borrower
shall not do or allow any tenant or other user of the Property to do any act
with respect to Hazardous Substances that materially increases the dangers to
human health or the environment, poses an unreasonable risk of harm to any
Person (whether on or off the Property), impairs or may impair the value of the
Property, is contrary to any requirement of any insurer, constitutes a public
or private nuisance, constitutes waste, or violates any covenant, condition, agreement
or easement applicable to the Property; (i) Borrower shall immediately notify
Lender in writing of (A) any presence or Releases or threatened

 21
 

 

Releases of Hazardous Substances in, on,
under, from or migrating towards the Property; (B) any non-compliance with any
Environmental Laws related in any way to the Property; (C) any actual or
potential Environmental Lien; (D) any required or proposed Remediation of
environmental conditions relating to the Property; and (E) any written notice
or other written communication of which Borrower becomes aware from any source
whatsoever (including but not limited to a governmental entity) relating in any
way to Hazardous Substances or Remediation thereof, possible liability of any
Person pursuant to any Environmental Law, other environmental conditions in
connection with the Property, or any actual or potential administrative or
judicial proceedings in connection with anything referred to in this Article 8;
and (j) to the extent possible using commercially reasonable efforts, the
Property shall be maintained in such a manner as to prevent excess humidity or
accumulation of moisture that may promote the growth of molds or other fungi
and other microorganisms.

Section
8.3            Lender’s Rights.  In the event that Lender has reason to
believe that an environmental hazard exists on the Property that does not, in
Lender’s sole discretion, endanger any tenants or other occupants of the
Property or their guests or the general public or materially and adversely
affect the value of the Property, upon reasonable notice from Lender, Borrower
shall, at Borrower’s expense, promptly cause an engineer or consultant
satisfactory to Lender to conduct an environmental assessment or audit (the
scope of which shall be determined in Lender’s sole and absolute discretion)
and take any samples of soil, groundwater or other water, air, or building
materials or any other invasive testing requested by Lender and promptly
deliver the results of any such assessment, audit, sampling or other testing;
provided, however, if such results are not delivered to Lender within a
reasonable period or if Lender has reason to believe that an environmental
hazard exists on the Property that, in Lender’s sole judgment, endangers any
tenant or other occupant of the Property or their guests or the general public
or may materially and adversely affect the value of the Property, upon
reasonable notice to Borrower, Lender and any other Person designated by
Lender, including but not limited to any receiver, any representative of a
governmental entity, and any environmental consultant, shall have the right,
but not the obligation, to enter upon the Property at all reasonable times to
assess any and all aspects of the environmental condition of the Property and
its use, including but not limited to conducting any environmental assessment
or audit (the scope of which shall be determined in Lender’s sole and absolute
discretion) and taking samples of soil, groundwater or other water, air, or
building materials, and reasonably conducting other invasive testing.  Borrower shall cooperate with and provide
Lender and any such Person designated by Lender with access to the Property.

ARTICLE
IX - INDEMNIFICATION

Section
9.1            General Indemnification.  Borrower shall, at its sole cost and expense,
protect, defend, indemnify, release and hold harmless the Indemnified Parties
from and against any and all claims, suits, liabilities (including, without
limitation, strict liabilities), actions, proceedings, obligations, debts,
damages, losses, costs, expenses, diminutions in value, fines, penalties,
charges, fees, expenses, judgments, awards, amounts paid in settlement,
punitive damages, foreseeable and

 22
 

 

unforeseeable consequential damages, of
whatever kind or nature (including but not limited to reasonable attorneys’
fees and other costs of defense) (collectively, the “Losses”) imposed upon or incurred by or asserted against any
Indemnified Parties and directly or indirectly arising out of or in any way
relating to any one or more of the following, except, in each case, to the
extent arising out of any Indemnified Party’s gross negligence or willful
misconduct:  (a) ownership of this
Security Instrument, the Property or any interest therein or receipt of any
Rents; (b) any amendment to, or restructuring of, the Debt, the Note, the Loan
Agreement, this Security Instrument, or any other Loan Documents; (c) any and
all lawful action that may be taken by Lender in connection with the
enforcement of the provisions of this Security Instrument, the Loan Agreement,
the Note or any of the other Loan Documents, whether or not suit is filed in
connection with same, or in connection with Borrower, any Guarantor or
Indemnifying Person and/or any partner, joint venturer or shareholder thereof
becoming a party to a voluntary or involuntary federal or state bankruptcy,
insolvency or similar proceeding; (d) any accident, injury to or death of
persons or loss of or damage to property occurring in, on or about the Property
or any part thereof or on the adjoining sidewalks, curbs, adjacent property or
adjacent parking areas, streets or ways; (e) any use, nonuse or condition in,
on or about the Property or any part thereof or on the adjoining sidewalks,
curbs, adjacent property or adjacent parking areas, streets or ways; (f) any
failure on the part of Borrower to perform or be in compliance with any of the
terms of this Security Instrument, the Note, the Loan Agreement or any of the
other Loan Documents; (g) performance of any labor or services or the
furnishing of any materials or other property in respect of the Property or any
part thereof; (h) the failure of any person to file timely with the Internal
Revenue Service an accurate Form 1099-B, Statement for Recipients of Proceeds
from Real Estate, Broker and Barter Exchange Transactions, which may be
required in connection with this Security Instrument, or to supply a copy
thereof in a timely fashion to the recipient of the proceeds of the transaction
in connection with which this Security Instrument is made; (i) any failure of
the Property to be in compliance with any Legal Requirements; (j) the
enforcement by any Indemnified Party of the provisions of this Article 9; (k)
any and all claims and demands whatsoever which may be asserted against Lender
by reason of any alleged obligations or undertakings on its part to perform or
discharge any of the terms, covenants, or agreements contained in any Lease;
(l) the payment of any commission, charge or brokerage fee to anyone claiming
through Borrower which may be payable in connection with the funding of the
Loan; or (m) any misrepresentation made by Borrower in this Security Instrument
or any other Loan Document.  Any amounts
payable to Lender by reason of the application of this Section 9.1 shall become
immediately due and payable and shall bear interest at the Default Rate from
the date loss or damage is sustained by Lender until paid.  For purposes of this Article 9, the term “Indemnified Parties” means Lender and any
Person who is or will have been involved in the origination of the Loan, any
Person who is or will have been involved in the servicing of the Loan secured
hereby, any Person in whose name the encumbrance created by this Security
Instrument is or will have been recorded, any Person who may hold or acquire or
will have held a full or partial interest in the Loan secured hereby
(including, but not limited to, investors or prospective investors in the
Securities, as well as custodians, trustees and other fiduciaries who hold or
have held a full or partial interest in the Loan secured hereby for the benefit
of third parties) as well

 23
 

 

as the respective directors, officers,
shareholders, partners, employees, agents, servants, representatives,
contractors, subcontractors, affiliates, subsidiaries, participants, successors
and assigns of any and all of the foregoing (including, but not limited to, any
other Person who holds or acquires or will have held a participation or other
full or partial interest in the Loan, whether during the term of the Loan or as
a part of or following a foreclosure of the Loan and any successors by merger,
consolidation or acquisition of all or a substantial portion of Lender’s assets
and business).

Section
9.2            Security Instrument and/or Intangible Tax.  Borrower shall, at its sole cost and expense,
protect, defend, indemnify, release and hold harmless the Indemnified Parties
from and against any and all Losses imposed upon or incurred by or asserted
against any Indemnified Parties and directly or indirectly arising out of or in
any way relating to any tax on the making and/or recording of this Security
Instrument, the Note or any of the other Loan Documents, but excluding any
income, franchise or other similar taxes.

Section
9.3            ERISA Indemnification.  Borrower shall, at its sole cost and expense,
protect, defend, indemnify, release and hold harmless the Indemnified Parties
from and against any and all Losses (including, without limitation, reasonable
attorneys’ fees and costs incurred in the investigation, defense, and
settlement of Losses incurred in correcting any prohibited transaction or in
the sale of a prohibited loan, and in obtaining any individual prohibited
transaction exemption under ERISA that may be required, in Lender’s sole
discretion) that Lender may incur, directly or indirectly, as a result of a
default under Sections 4.1.9 or 5.2.12 of the Loan Agreement.

Section
9.4            Environmental Indemnification.  Borrower shall, at its sole cost and expense,
protect, defend, indemnify, release and hold harmless the Indemnified Parties
from and against any and all Losses and costs of Remediation (whether or not
performed voluntarily), engineers’ fees, environmental consultants’ fees, and
costs of investigation (including but not limited to sampling, testing, and
analysis of soil, water, air, building materials and other materials and
substances whether solid, liquid or gas) imposed upon or incurred by or
asserted against any Indemnified Parties, and arising out of or in any way
relating to any one or more of the following: 
(a) any presence of any Hazardous Substances in, on, above, or under the
Property; (b) any past, present or threatened Release of Hazardous Substances
in, on, above, under or from the Property; (c) any activity by Borrower, any
Person affiliated with Borrower or any tenant or other user of the Property in
connection with any actual, proposed or threatened use, treatment, storage,
holding, existence, disposition or other Release, generation, production,
manufacturing, processing, refining, control, management, abatement, removal,
handling, transfer or transportation to or from the Property of any Hazardous
Substances at any time located in, under, on or above the Property; (d) any
activity by Borrower, any Person affiliated with Borrower or any tenant or
other user of the Property in connection with any actual or proposed
Remediation of any Hazardous Substances at any time located in, under, on or
above the Property, whether or not such Remediation is voluntary or pursuant to
court or administrative order, including but not limited to any removal,
remedial or corrective action; (e) any past or present non-compliance or
violations of any Environmental Laws (or permits issued pursuant to any
Environmental

 24
 

 

Law) in connection with the Property or
operations thereon, including but not limited to any failure by Borrower, any
Affiliate of Borrower or any tenant or other user of the Property to comply
with any order of any Governmental Authority in connection with any
Environmental Laws; (f) the imposition, recording or filing of any Environmental
Lien encumbering the Property; (g) any administrative processes or proceedings
or judicial proceedings in any way connected with any matter addressed in
Article 8 and this Section 9.4; (h) any past, present or threatened injury to,
destruction of or loss of natural resources in any way connected with the
Property, including but not limited to costs to investigate and assess such
injury, destruction or loss; (i) any acts of Borrower or other users of the
Property in arranging for disposal or treatment, or arranging with a
transporter for transport for disposal or treatment, of Hazardous Substances
owned or possessed by such Borrower or other users, at any facility or
incineration vessel owned or operated by another Person and containing such or
any similar Hazardous Substance; (j) any acts of Borrower or other users of the
Property, in accepting any Hazardous Substance for transport to disposal or
treatment facilities, incineration vessels or sites selected by Borrower or
such other users, from which there is a Release, or a threatened Release of any
Hazardous Substance which causes the incurrence of costs for Remediation; (k)
any personal injury, wrongful death, or property damage arising under any
statutory or common law or tort law theory, including but not limited to
damages assessed for the maintenance of a private or public nuisance or for the
conducting of an abnormally dangerous activity on or near the Property, in each
case, to the extent arising out of the presence of Hazardous Substances; and
(1) any misrepresentation or inaccuracy in any representation or warranty or
material breach or failure to perform any covenants or other obligations
pursuant to Article 8.  This indemnity
shall survive any termination, satisfaction or foreclosure of this Security
Instrument, subject to the provisions of Section 10.5.  Notwithstanding the foregoing, Borrower shall
have no liability for any Losses imposed upon or incurred by or asserted
against any Indemnified Parties and described in this Section 9.4 to the extent
that such Losses arose solely by actions, conditions or events relating to the
Hazardous Substances placed in, on, above or under the Property after the date
that Lender or any Affiliate or nominee of Lender (or any purchaser at a
foreclosure sale) actually acquired title to the Property and were not caused
by the direct or indirect actions of Borrower or any officer or director of
Borrower or any employee, agent, contractor or Affiliate of Borrower.

Section
9.5            Duty to Defend; Attorneys’ Fees and Other Fees and
Expenses.  Upon written
request by any Indemnified Party, Borrower shall defend such Indemnified Party
(if requested by any Indemnified Party, in the name of the Indemnified Party)
by attorneys and other professionals approved by the Indemnified Parties.  Notwithstanding the foregoing, if the
defendants in any such claim or proceeding include both Borrower and any
Indemnified Party and Borrower and such Indemnified Party shall have reasonably
concluded that there are any legal defenses available to it and/or other
Indemnified Parties that are different from or additional to those available to
Borrower, such Indemnified Party shall have the right to select separate
counsel to assert such legal defenses and to otherwise participate in the
defense of such action on behalf of such Indemnified Party, provided that no
compromise or settlement shall be entered without Borrower’s consent, which
consent shall not be unreasonably withheld. 
Upon demand, Borrower shall pay or, in the sole and absolute discretion of
the Indemnified Parties,

 25
 

 

reimburse, the Indemnified Parties for the
payment of reasonable fees and disbursements of attorneys, engineers,
environmental consultants, laboratories and other professionals in connection
therewith.

ARTICLE X
- WAIVERS

Section
10.1         Waiver of Counterclaim.  To the extent permitted by applicable law,
Borrower hereby waives the right to assert a counterclaim, other than a
mandatory or compulsory counterclaim, in any action or proceeding brought
against it by Lender arising out of or in any way connected with this Security
Instrument, the Loan Agreement, the Note, any of the other Loan Documents, or
the Obligations.

Section
10.2         Marshalling and Other Matters.  To the extent permitted by applicable law,
Borrower hereby waives the benefit of all appraisement, valuation, stay,
extension, reinstatement and redemption laws now or hereafter in force and all
rights of marshalling in the event of any sale hereunder of the Property or any
part thereof or any interest therein. 
Further, Borrower hereby expressly waives any and all rights of
redemption from sale under any order or decree of foreclosure of this Security
Instrument on behalf of Borrower, and on behalf of each and every person
acquiring any interest in or title to the Property subsequent to the date of
this Security Instrument and on behalf of all persons to the extent permitted
by applicable law.

Section
10.3         Waiver of Notice.  To the extent permitted by applicable law,
Borrower shall not be entitled to any notices of any nature whatsoever from
Lender except with respect to matters for which this Security Instrument or any
other Loan Document specifically and expressly provides for the giving of
notice by Lender to Borrower and except with respect to matters for which
Lender is required by applicable law to give notice, and Borrower hereby
expressly waives the right to receive any notice from Lender with respect to
any matter for which this Security Instrument does not specifically and
expressly provide for the giving of notice by Lender to Borrower.

Section
10.4         Waiver of Statute of Limitations.  To the extent permitted by applicable law,
Borrower hereby expressly waives and releases to the fullest extent permitted
by law, the pleading of any statute of limitations as a defense to payment of
the Debt or performance of its Other Obligations.

Section
10.5         Survival.  The indemnifications made pursuant to
Sections 9.3 and 9.4 herein and the representations and warranties, covenants,
and other obligations arising under Article 8, shall continue indefinitely in
full force and effect and shall survive and shall in no way be impaired by any
of the following:  any satisfaction or
other termination of this Security Instrument, any assignment or other transfer
of all or any portion of this Security Instrument or Lender’s interest in the
Property (but, in such case, shall benefit both Indemnified Parties and any
assignee or transferee), any exercise of Lender’s rights and remedies pursuant
hereto including, but not limited to, foreclosure or acceptance of a deed in
lieu of foreclosure, any exercise of any rights and remedies pursuant to the
Loan Agreement, the Note or any of the other Loan Documents, any transfer of
all or any portion of the Property (whether by Borrower or by Lender

 26
 

 

following foreclosure or acceptance of a deed
in lieu of foreclosure or at any other time), any amendment to this Security
Instrument, the Loan Agreement, the Note or the other Loan Documents, and any
act or omission that might otherwise be construed as a release or discharge of
Borrower from the obligations pursuant hereto.

ARTICLE
XI - EXCULPATION

The provisions of Section 9.3 of the Loan Agreement
are hereby incorporated by reference into this Security Instrument to the same
extent and with the same force as if fully set forth herein.

ARTICLE
XII - NOTICES

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

ARTICLE
XIII - APPLICABLE LAW

Section
13.1         Governing Law.  This Security Instrument shall be governed by
and construed in accordance with the laws of the state in which the Property is
located (without regard to any conflict of laws or principles) and the
applicable laws of the United States of America.

Section
13.2         Usury Laws.  Notwithstanding anything to the contrary, (a)
all agreements and communications between Borrower and Lender are hereby and
shall automatically be limited so that, after taking into account all amounts
deemed interest, the interest contracted for, charged or received by Lender
shall never exceed the Maximum Legal Rate or amount, (b) in calculating whether
any interest exceeds the Maximum Legal Rate, all such interest shall be
amortized, prorated, allocated and spread over the full amount and term of all
principal indebtedness of Borrower to Lender, and (c) if through any
contingency or event, Lender receives or is deemed to receive interest in
excess of the Maximum Legal Rate, any such excess shall be deemed to have been
applied toward payment of the principal of any and all then outstanding
indebtedness of Borrower to Lender, or if there is no such indebtedness, shall
immediately be returned to Borrower.

Section
13.3         Provisions Subject to Applicable Law.  All rights, powers and remedies provided in
this Security Instrument may be exercised only to the extent that the exercise
thereof does not violate any applicable provisions of law and are intended to
be limited to the extent necessary so that they will not render this Security
Instrument invalid, unenforceable or not entitled to be recorded, registered or
filed under the provisions of any applicable law.  If any term of this Security Instrument or
any application thereof shall be invalid or unenforceable, the remainder of
this Security Instrument and any other application of the term shall not be
affected thereby.

 27
 

 

ARTICLE
XIV - DEFINITIONS

All capitalized terms not defined herein shall have
the respective meanings set forth in the Loan Agreement.  Unless the context clearly indicates a
contrary intent or unless otherwise specifically provided herein, words used in
this Security Instrument may be used interchangeably in singular or plural form
and the word “Borrower” shall
mean “each Borrower and any subsequent
owner or owners of the Property or any part thereof, or any interest
therein,  the word “Lender” shall
mean “Lender and any subsequent holder
of the Note,” the word “Note”
shall mean “the Note and any other
evidence of indebtedness secured by this Security Instrument,” the word “Property” shall include any portion of
the Property and any interest therein, and the phrases “attorneys’ fees”, “legal
fees” and “counsel fees”
shall include any and all attorneys’, paralegal and law clerk fees and
disbursements, including, but not limited to, fees and disbursements at the pre-trial,
trial and appellate levels incurred or paid by Lender in protecting its
interest in the Property, the Leases and the Rents and enforcing its rights
hereunder.

ARTICLE
XV - MISCELLANEOUS PROVISIONS

Section
15.1         No Oral Change.  This Security Instrument, and any provisions
hereof, 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.

Section
15.2         Successors and Assigns.  This Security Instrument shall be binding
upon and inure to the benefit of Borrower and Lender and their respective
successors and assigns forever.

Section
15.3         Inapplicable Provisions.  If any term, covenant or condition of the
Loan Agreement, the Note or this Security Instrument is held to be invalid,
illegal or unenforceable in any respect, the Loan Agreement, the Note and this
Security Instrument shall be construed without such provision.

Section
15.4         Headings, etc.  The headings and captions of various Sections
of this Security Instrument are for convenience of reference only and are not
to be construed as defining or limiting, in any way, the scope or intent of the
provisions hereof.

Section
15.5         Number and Gender.  Whenever the context may require, any
pronouns used herein shall include the corresponding masculine, feminine or
neuter forms, and the singular form of nouns and pronouns shall include the
plural and vice versa.

Section
15.6         Subrogation.  If any or all of the proceeds of the Note
have been used to extinguish, extend or renew any indebtedness heretofore
existing against the Property, then, to the extent of the funds so used, Lender
shall be subrogated to all of the rights, claims, liens, titles, and interests
existing against the Property heretofore held by,

 28
 

 

or in favor of, the holder of such
indebtedness and such former rights, claims, liens, titles, and interests, if
any, are not waived but rather are continued in full force and effect in favor
of Lender and are merged with the lien and security interest created herein as
cumulative security for the repayment of the Debt, the performance and discharge
of Borrower’s obligations hereunder, under the Loan Agreement, the Note and the
other Loan Documents and the performance and discharge of the Other
Obligations.

Section
15.7         Entire Agreement.  The Note, the Loan Agreement, this Security
Instrument and the other Loan Documents constitute the entire understanding and
agreement between Borrower and Lender with respect to the transactions arising
in connection with the Debt and supersede all prior written or oral
understandings and agreements between Borrower and Lender with respect
thereto.  Borrower hereby acknowledges
that, except as incorporated in writing in the Note, the Loan Agreement, this
Security Instrument and the other Loan Documents, there are not, and were not,
and no persons are or were authorized by Lender to make, any representations,
understandings, stipulations, agreements or promises, oral or written, with
respect to the transaction which is the subject of the Note, the Loan
Agreement, this Security Instrument and the other Loan Documents.

Section
15.8         Limitation on Lender’s Responsibility.  No provision of this Security Instrument
shall operate to place any obligation or liability for the control, care,
management or repair of the Property upon Lender, nor shall it operate to make
Lender responsible or liable for any waste committed on the Property by the
tenants or any other Person, or for any dangerous or defective condition of the
Property, or for any negligence in the management, upkeep, repair or control of
the Property resulting in loss or injury or death to any tenant, licensee,
employee or stranger.  Nothing herein
contained shall be construed as constituting Lender a “mortgagee in possession.”

ARTICLE
XVI - GROUND LEASE PROVISIONS

Section
16.1         No Merger of Fee and
Leasehold Estates; Releases.  So long as any portion of the
Debt shall remain unpaid, unless Lender shall otherwise consent, the fee title
to the Land and the Leasehold Estate shall not merge but shall always be kept
separate and distinct, notwithstanding the union of such estates in Borrower,
Ground Lessor or in any other Person by purchase, operation of law or
otherwise.  Lender reserves the right, at
any time, to release portions of the Property, including, but not limited to,
the Leasehold Estate, with or without consideration, at Lender’s election,
without waiving or affecting any of its rights hereunder or under the Note or
the other Loan Documents and any such release shall not affect Lender’s rights
in connection with the portion of the Property not so released.

Section
16.2         Borrower’s Acquisition of
Fee Estate.  In the event that Borrower, so long as any
portion of the Debt remains unpaid, shall become the owner and holder of Ground
Lessor’s fee interest in the portion of the Property demised pursuant to the
Ground Lease, the lien of this Security Instrument shall be spread to cover
such interest and such interest shall be deemed to be included in the
Property.  Borrower agrees, at its sole
cost and expense, including without limitation, Lender’s reasonable

 29
 

 

attorney’s fees, to (i) execute
any and all documents or instruments necessary to subject the foregoing
interest to the lien of this Security Instrument; and (ii) provide a title
insurance policy which shall insure that the lien of this Security Instrument
is a first lien on such interest.  The
foregoing shall not be construed to permit Borrower to acquire the aforesaid
fee interest and Borrower rights to acquire additional property shall remain
subject to the restrictions relating thereto contained in the Loan Agreement
and the other Loan Documents.

Section
16.3         Rejection of the Ground
Lease.

(a)           If the Ground Lease is terminated by Ground Lessor for any
reason in the event of the rejection or disaffirmance of the Ground Lease by
Ground Lessor pursuant to the Bankruptcy Code or any other law affecting
creditor’s rights, (i) Borrower, immediately after obtaining notice thereof,
shall give notice thereof to Lender, (ii) Borrower, without the prior written
consent of Lender, shall not elect to treat the Ground Lease as terminated
pursuant to Section 365(h) of the Bankruptcy Code or any comparable federal or
state statute or law, and any election by Borrower made without such consent
shall be void and (iii) this Security Instrument and all the liens, terms,
covenants and conditions of this Security Instrument shall extend to and cover
Borrower’s possessory rights under Section 365(h) of the Bankruptcy Code and to
any claim for damages due to the rejection of the Ground Lease or other
termination of the Ground Lease.  In addition,
Borrower hereby assigns irrevocably to Lender Borrower’s rights to treat the
Ground Lease as terminated pursuant to Section 365(h) of the Bankruptcy Code
and to offset rents under the Ground Lease in the event any case, proceeding or
other action is commenced by or against Ground Lessor under the Bankruptcy Code
or any comparable federal or state statute or law, provided that Lender shall
not exercise such rights and shall permit Borrower to exercise such rights with
the prior written consent of Lender, not to be unreasonably withheld or
delayed, unless an Event of Default shall have occurred and be continuing.

(b)           Borrower hereby assigns to Lender Borrower’s right to
reject the Ground Lease under Section 365 of the Bankruptcy Code or any
comparable federal or state statute or law with respect to any case, proceeding
or other action commenced by or against Borrower under the Bankruptcy Code or
comparable federal or state statute or law, provided Lender shall not exercise
such right, and shall permit Borrower to exercise such right with the prior
written consent of Lender, not to be unreasonably withheld or delayed, unless
an Event of Default shall have occurred and be continuing.  Further, if Borrower shall desire to so
reject the Ground Lease, at Lender’s request, to the extent not prohibited by
the terms of the Ground Lease and applicable law, Borrower shall assign its
interest in the Ground Lease to Lender in lieu of rejecting the Ground Lease as
described above, upon receipt by Borrower of written notice from Lender of such
request together with Lender’s agreement to cure any existing defaults of
Borrower under the Ground Lease and to provide adequate assurance of future
performance of Borrower’s obligations thereunder.

(c)           Borrower hereby assigns to Lender Borrower’s right to seek
an extension of the 60-day period within which Borrower must accept or reject
the Ground

 30
 

 

Lease under Section 365 of the Bankruptcy
Code or any comparable federal or state statute or law with respect to any
case, proceeding or other action commenced by or against Borrower under the
Bankruptcy Code or comparable federal or state statute or law, provided Lender
shall not exercise such right, and shall permit Borrower to exercise such right
with the prior written consent of Lender, not to be unreasonably withheld or
delayed, unless an Event of Default shall have occurred and be continuing.  Further, if Borrower shall desire to so
reject the Ground Lease, at Lender’s request, to the extent not prohibited by
the terms of the Ground Lease and applicable law, Borrower shall assign its
interest in the Ground Lease to Lender in lieu of rejecting such Ground Lease
as described above, upon receipt by Borrower of written notice from Lender of
such request together with Lender’s agreement to cure any existing defaults of
Borrower under the Ground Lease and to provide adequate assurance of future
performance of the applicable Borrower’s obligations thereunder.

(d)           Borrower hereby agrees that if the Ground Lease is
terminated for any reason in the event of the rejection or disaffirmance of the
Ground Lease pursuant to the Bankruptcy Code or any other law affecting
creditor’s rights, any Personal Property of Borrower not removed from the
Property by Borrower as permitted or required by the Ground Lease, shall at the
option of Lender be deemed abandoned by Borrower, provided that Lender may
remove any such Personal Property required to be removed by Borrower pursuant
to the Ground Lease and all reasonable out-of-pocket costs and expenses associated
with such removal shall be paid by Borrower within five (5) days of receipt by
Borrower of an invoice for such removal costs and expenses..

ARTICLE
XVII - LOCAL LAW PROVISIONS

Section
17.1         Principles of Construction.  In the event of any inconsistencies between
the terms and conditions of this Article 17 and the terms and conditions of
this Security Instrument, the terms and conditions of this Article 17 shall
control and be binding.

Section 16.2         Power
of Sale.  (a) Upon
the occurrence and continuation of an Event of Default, Lender, or the agent or
successor of Lender, may, at its option, sell or offer for sale the Property in
such portions, order and parcels as Lender may determine with or without having
first taken possession of same, to the highest bidder for cash at one or more
public sales in accordance with the terms and provisions of the law of the
State of Georgia.  Such sale shall be
made before the door of the courthouse of the county in which the Property (or
any portion thereof to be sold) is situated (whether the parts or parcels
thereof, if any, in different counties are contiguous or not, and without the
necessity of having any personal Property hereby secured present at such sale)
on such day and at such times as permitted under applicable law of the State of
Georgia, after advertising the time, place and terms of sale and that portion
of the Property in accordance herewith and such law.  The time, place and terms of any such sale
shall be advertised once a week for four (4) consecutive weeks, immediately
prior to the date of sale (but without regard to the number of days elapsed
intervening between the date of publication of the first advertisement and the
date of sale) in a newspaper in which

 31
 

 

sheriff’s sales
are advertised in said county.  In the
event of any such public sale pursuant to the aforesaid power of sale and
agency, Borrower shall be deemed a tenant holding over and shall forthwith
deliver possession of the Property to the purchaser or purchasers at such sale
or be summarily dispossessed according to provisions of law applicable to
tenants holding over.  At any such public
sale, Lender may execute and deliver in the name of Borrower to the purchaser a
conveyance of the Property or any part of the Property in fee simple.  Borrower hereby constitutes and appoints
Lender the agent and attorney-in-fact of Borrower to make such sale and
conveyance, and thereby to divest Borrower of all right, title and equity that
Borrower may have in and to the Property and to vest the same in the purchaser
or purchasers at such sale or sales, and all the acts and doings of said agent
and attorney-in-fact are hereby ratified and confirmed and any recitals in said
conveyance or conveyances as to facts essential to a valid sale shall be
binding upon Borrower.  The aforesaid
power of sale and agency hereby granted are coupled with an interest and are
irrevocable by death or otherwise, are granted as cumulative of the other
remedies provided hereby or by law for collection of the Debt and shall not be
exhausted by one exercise thereof but may be exercised until full payment of
all of the Debt.  In the event of any
sale under this Security Instrument by virtue of the exercise of the powers
herein granted, or pursuant to any order in any judicial proceeding or
otherwise, the Property may be sold in its entirety or in separate parcels and
in such manner or order as Lender in its sole discretion may elect, and if
Lender so elects, Lender may sell the personal Property covered by this
Security Instrument at one or more separate sales in any manner permitted by
the Uniform Commercial Code, and one or more exercises of the powers herein
granted shall not extinguish or exhaust such powers, until all of the Property
is sold or the Note and other secured indebtedness is paid in full.  If the Note and other secured indebtedness is
now or hereafter further secured by any chattel mortgages, deeds to secure debt
or deeds of trust, pledges, contracts or guaranties, assignments of lease, or
other security instruments, Lender at its option may exhaust the remedies
granted under any of said security instruments either concurrently or
independently, and in such order as Lender may determine.

(b)           Upon any foreclosure sale or sales of
all or any portion of the Property under the power herein granted, Lender may
bid for and purchase the Property and shall be entitled to apply all or any
part of the Debt as a credit to the purchase price.

(c)           In the event of a foreclosure or a
sale of all or any portion of the Property under the power herein granted, the
proceeds of said sale shall be applied, in whatever order Lender in its sole
discretion may decide, to the reasonable out-of-pocket expenses of such sale
and of all proceedings in connection therewith (including, without limitation,
reasonable attorneys’ fees), to insurance premiums, liens, assessments, taxes
and charges (including, without limitation, utility charges advanced by
Lender), to payment of the Debt, and to accrued interest on all of the
foregoing; and the remainder, if any, shall be paid to Borrower, or to the
person or entity lawfully entitled thereto.

Section 16.3         Waiver
of Notice and Hearing. 
TO THE EXTENT ALLOWED BY LAW BORROWER HEREBY WAIVES ANY RIGHT IT MAY
HAVE UNDER THE CONSTITUTION OF THE STATE OF GEORGIA OR THE

 32
 

 

CONSTITUTION OF
THE UNITED STATES OF AMERICA TO NOTICE (EXCEPT AS EXPRESSLY REQUIRED BY THE
TERMS OF ANY LOAN DOCUMENT) OR TO A JUDICIAL HEARING PRIOR TO THE EXERCISE OF
ANY RIGHT OR REMEDY PROVIDED BY THIS SECURITY INSTRUMENT TO SECURE DEBT AND
BORROWER WAIVES ITS RIGHTS, IF ANY, TO SET ASIDE OR INVALIDATE ANY SALE DULY
CONSUMMATED IN ACCORDANCE WITH THE PROVISIONS OF THIS SECURITY INSTRUMENT TO
SECURE DEBT ON THE GROUND (IF SUCH BE THE CASE) THAT THE SALE WAS CONSUMMATED
WITHOUT A PRIOR JUDICIAL HEARING.  ALL
WAIVERS BY BORROWER IN THIS PARAGRAPH HAVE BEEN GIVEN VOLUNTARILY,
INTELLIGENTLY AND KNOWINGLY, AFTER BORROWER HAS BEEN FIRST INFORMED BY COUNSEL
OF ITS OWN CHOOSING AS TO POSSIBLE ALTERNATIVE RIGHTS, AND HAVE BEEN GIVEN AS
AN INTENTIONAL RELINQUISHMENT AND ABANDONMENT OF A KNOWN RIGHT AND PRIVILEGE.

Section 16.4         Deed
to Secure Debt. 
This Security Instrument is a deed and security agreement passing legal
title pursuant to the laws of the State of Georgia governing loan or security
deeds and security agreements, and is not a mortgage.  The use of the terms “Borrower” and “Lender”
are for reference purposes only, and shall not be construed in any manner to
make this instrument a mortgage.  Any
reference herein to the “lien of this Security Instrument” or words of similar
import shall be deemed to mean the security title, security interest and lien
created by this Security Instrument.

 [SIGNATURE PAGE
FOLLOWS]

 33
 

 

IN WITNESS WHEREOF, this Security Instrument has been
executed by Borrower as of the day and year first above written.

	
  Signed, Sealed and Delivered

  	
   

  	
  BORROWER:

  
	
  in the Presence
  of:

  	
   

  	
   

  
	
   

  	
   

  	
  [SEE SEPARATE SIGN PAGE]

  
	
   

  	
   

  	
   

  
	
  Unofficial
  Witness 

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Notary Public

  	
   

  	
   

  
	
  My Commission
  Expires:

  	
   

  	
   

  
	
  [NOTARY SEAL]

  	
   

  	
   

  

 

 34
 

 

I hereby certify that the address of the Lender is 911
Main Street, Suite 1500, Kansas City, MO 64105.

	
   

  	
   

  	
  KEYBANK NATIONAL
  ASSOCIATION,

  
	
   

  	
   

  	
  a national
  association

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By: 

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

 35

 

EXHIBIT A

LEGAL
DESCRIPTION

 A-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}]]