Document:

<PAGE>

--------------------------------------------------------------------------------
                                LOAN TERMS TABLE

Note Date: as of February 13, 1998
Borrower Townfair Center Associates,
a Pennsylvania general partnership
Original Principal Amount $10.700,000.00            Loan No.: 53-0000494
Note Rate: 6.960%                                   Servicing No.: 50514
Monthly Payment Amount $70,900.16                   Borrower's TIN: 25-1759438
Amortization Commencement Date: April 1,1998        Maturity Date: March 1, 2008
Lockout Period: Beginning on the date of this
Note and ending on February 28, 2002
Yield Maintenance Period: The period from
March 1, 2002 to August 31, 2007
Specified U.S. Treasury Security: 6.125% U.S.
Treasury Security due August 1, 2007
--------------------------------------------------------------------------------

                                 PROMISSORY NOTE
                        (Townfair Center - Phases I & II)

FOR VALUE RECEIVED, the borrower described in the Loan Terms Table set forth
above (the "Borrower") promises to pay to the order of PATRICIAN FINANCIAL
COMPANY LIMITED PARTNERSHIP, a Massachusetts limited partnership, its successors
and assigns (the "Lender"), the Original Principal Amount {as outstanding from
time to time, the "Principal Amount") under the terms and conditions of this
promissory note (the "Note") and in accordance with the loan agreement of even
date herewith by and between the Borrower and the Lender (the "Loan Agreement").
This Note is secured by a deed of trust, mortgage or deed to secure debt of even
date on certain property of the Borrower (the "Security Instrument") and other
agreements by and between the Borrower and the Lender. The Loan Terms Table is a
part of this Note and all terms used in this Note which are defined in the Loan
Terms Table shall have the meaning set forth therein. Except as expressly
provided otherwise in this Note, the defined terms in the Loan Documents (as
defined in the Loan Agreement) are used herein with the same meaning. All of the
terms, definitions, conditions and covenants of the Loan Documents are expressly
made a part of this Note by reference in the same manner and with the same
effect as if set forth herein at length. Any holder of this Note is entitled to
the benefits of and remedies provided in the Loan Documents. Any Event of
Default under any of the Loan Documents is an Event of Default under the terms
of this Note.

     1. Interest. The outstanding Principal Amount of the loan evidenced by this
Note (the "Loan") shall bear interest at a fixed rate per annum equal to the
Note Rate. Interest shall be computed on the basis of the actual number of days
elapsed over a year consisting of 360 days.

     2. Principal and Interest Payments. The Principal Amount and interest
thereon shall be payable at the Lender's offices in Charlotte, North Carolina,
or at such other place as the Lender may designate in writing. An initial
payment is due on the date hereof for prepaid interest through and including the
last day of the month in which this Note is executed. Thereafter, except as may
be adjusted in accordance with the immediately following sentence, payment shall
be made in consecutive monthly installments of principal and interest in an
amount equal to the Monthly Payment Amount on the first day of each month
beginning on the Amortization Commencement Date (each a "Scheduled Payment
Date"), until the entire indebtedness evidenced hereby is fully paid, except
that any remaining indebtedness, if not sooner paid, shall be due and payable on
the Maturity Date. Following any partial prepayment occurring solely as a result
of the application of insurance proceeds or condemnation awards pursuant to the
terms of the Loan Agreement, the Lender may, in its sole discretion, adjust the
Monthly Payment Amount to give effect to any such partial prepayment, provided,
however, that in no event will any such adjustment result in any such
installment becoming due and payable on any date after the Maturity Date.

<PAGE>

     3. Late Charges. In the event any payment of interest or principal is not
received prior to the 10th day after the same is due (or such greater period, if
any, required by applicable law), the Borrower will pay to the Lender a
late charge of four percent (4%) of the amount of the overdue payment. This
provision for late charges shall not be deemed to extend the time for payment or
be a "grace period" or "cure period" that gives the Borrower a right to cure a
Default Condition. Imposition of late charges is not contingent upon the giving
of any notice or lapse of any cure period provided for in the Loan Documents.

     4. Prepayment. Except as otherwise expressly permitted by this Section 4,
no voluntary prepayments, whether in whole or in part, of the outstanding
Principal Amount or any other amount at any time due and owing under this Note
can be made by the Borrower or any other Person.

        (a) Lockout Period. The Borrower has no right to make any voluntary
     prepayment, whether in whole or in part, of the outstanding Principal
     Amount or any other amount under this Note at any time during the Lockout
     Period. Notwithstanding the foregoing, if either (1) the Lender, in its
     sole discretion, accepts a full or partial voluntary prepayment during the
     Lockout Period or (2) there is an involuntary prepayment during the Lockout
     Period, then, in either case, the Borrower shall, in addition to any
     portion of the outstanding Principal Amount prepaid (together with all
     interest accrued and unpaid thereon), pay to the Lender a prepayment
     premium in an amount calculated in accordance with Section 4(b) hereof.

        (b) During the Yield Maintenance Period. During the Yield Maintenance
     Period and upon giving the Lender at least 60 days (but not more than 90
     days) prior written notice, the Borrower may voluntarily prepay all or,
     subject to the provisions of this subsection, any portion, of the
     outstanding Principal Amount of this Note on a Scheduled Payment Date. Any
     such voluntary prepayment shall be made by paying to the Lender the sum of
     (1) the portion of the outstanding Principal Amount being prepaid, (2) all
     accrued interest and any other sums due the Lender at the time of such
     prepayment and (3) a prepayment premium in an amount equal to the greater
     of:

            (A) 1% of the Principal Amount being prepaid, or

            (B) the product obtained by multiplying:

                (1) the Principal Amount being prepaid, times

                (2) the difference obtained by subtracting (I) the Yield Rate
                    from (II) Note Rate, times
                (3) the present value factor calculated using the following
                    formula:

                1 - (1 + r)-n
                -------------
                      r

                r = Yield Rate

                n = the number of years and any fraction thereof, remaining
                    between the date the prepayment is made and the Maturity
                    Date of this Note

        As used herein. "Yield Rate" means the yield rate for the Specified U.S.
     Treasury Security, as reported in The Wall Street Journal on the fifth
     Business Day preceding the Prepayment Calculation Date. If the Yield Rate
     is not published for the Specified U.S. Treasury Security, then the "Yield
     Rate" shall mean the yield rate for the nearest equivalent U.S. Treasury
     Security (as selected at the Lender's sole discretion) as reported in The
     Wall Street Journal on the fifth Business Day preceding the Prepayment
     Calculation Date. If the publication of such Yield Rate in The Wall

                                      -2-

<PAGE>

     Street Journal is discontinued, the Lender shall determine such Yield Rate
     from another source selected by the Lender in the Lender's sole discretion.
     The "Prepayment Calculation Date" shall mean, as applicable, the date on
     which (i) notice of prepayment is given to the Lender, in the case of a
     voluntary prepayment of the entire outstanding Principal Amount of this
     Note, (ii) the Lender applies any partial prepayment to the reduction of
     the outstanding Principal Amount hereof, in the case of a voluntary partial
     prepayment, (iii) the Lender accelerates the Loan, in the case of a
     prepayment resulting from acceleration, or (iv) the Lender applies funds
     held under any Reserve Account, in the case of a prepayment resulting from
     such an application (other than in connection with acceleration of the
     Loan).

        Regarding any partial prepayment made pursuant to this subsection, when
     the total amount of the partial prepayment is known, but the amounts to be
     allocated toward the outstanding Principal Amount and the prepayment
     premium, respectively, are unknown, the Lender shall determine the
     allocation between the prepaid Principal Amount and the prepayment premium
     as follows:

        Given: a = total amount of the partial prepayment
               b = amount applied to Principal Amount
               c = prepayment premium
               N = Note Rate
               F = present value factor = 1 - (1 + r)-n
                                          -------------
                                                r
               "r" and "n" have the same meanings as set forth above

        Then:  a = b + c

               b =      a
                   ------------
                   F(N - r) + l

               C = a - b

        (c) After the Yield Maintenance Period. After the expiration of the
     Yield Maintenance Period and upon giving the Lender at least 60 days (but
     not more than 90 days) prior written notice, the Borrower may voluntarily
     prepay (without premium or penalty) all or, subject to the provisions of
     this subsection, any portion, of the outstanding Principal Amount of this
     Note on a Scheduled Payment Date.

        (d) Limitation on Partial Prepayments. The Lender shall have no
     obligation to accept a partial prepayment (i) more often than once in any
     period of twelve (12) months beginning on the date of this Note or any
     anniversary thereof, and (ii) unless the Principal Amount being prepaid is
     greater than one percent (1%) of the Original Principal Amount of this
     Note.

                                      -3-

<PAGE>

        (e) Prepayment Premium Due Whether Voluntary or Involuntary Prepayment:
     Insurance and Condemnation Proceeds: Excess Interest. The Borrower shall
     pay the applicable prepayment premium due under this Section 4 regardless
     of whether the prepayment is voluntary or involuntary (in connection with
     the Lender's acceleration of the outstanding Principal Amount of this Note
     or otherwise) or whether the Security Instrument is satisfied or released
     by foreclosure (whether by power sale or judicial proceeding), deed in lieu
     of foreclosure or by any other means. Notwithstanding any other provision
     herein to the contrary, the Borrower shall not be required to pay any
     prepayment premium in connection with any prepayment occurring solely as a
     result of (i) the application of insurance proceeds or condemnation awards
     pursuant to the terms of the Loan Documents, or (ii) the application of any
     interest in excess of the maximum rate permitted by applicable law to the
     reduction of the Principal Amount in accordance with Section 13 of this
     Note.

         5. Certain Provisions Regarding Payments, Prepayments and Remittances.

        (a) Payments. Except to the extent that specific provisions are set
     forth in this Note or any other Loan Document with respect to application
     of payments, all payments received by the holder hereof shall be applied,
     to the extent thereof, to the indebtedness secured by the Security
     Instrument in such manner and order as the Lender may elect in its sole
     discretion, any instructions from the Borrower or anyone else to the
     contrary notwithstanding. All payments made as scheduled on this Note shall
     be applied, to the extent thereof, to accrued but unpaid interest, late
     charges, accrued fees, the unpaid Principal Amount, and any other sums due
     and unpaid to the Lender in connection with the Loan, in such manner and
     order as the Lender may elect in its sole discretion.

        (b) Prepayments. All prepayments on this Note shall be applied, to the
     extent thereof, to accrued but unpaid interest on the amount prepaid, to
     the remaining Principal Amount, and any other sums due and unpaid to the
     Lender in connection with the Loan, in such manner and order as the Lender
     may elect in its sole discretion, including but not limited to application
     to principal installments in inverse order of maturity.

        (c) Remittances. Remittances in payment of any part of the indebtedness
     other than in the required amount in immediately available U.S. funds shall
     not, regardless of any receipt or credit issued therefore, constitute
     payment until the required amount is actually received by the holder hereof
     in immediately available U.S. funds and shall be made and accepted subject
     to the condition that any check or draft may be handled for collection in
     accordance with the practices of the collecting bank or banks.

     6. Acceleration. If the full outstanding Principal Amount of this Note,
together with all interest due thereon and any other amounts due in respect of
this Note are not paid on or before the Maturity Date or are accelerated under
the terms of this Note or the other Loan Documents, the then outstanding
Principal Amount, all accrued but unpaid interest thereon and any other amounts
due in respect of this Note shall bear interest at the Note Rate plus four
percent (4%) per annum until such Principal Amount and interest have been paid
in full. Further, in the event of such acceleration, the Loan, and all other
indebtedness of the Borrower to the Lender arising out of or in connection with
the Loan shall become immediately due and payable, without presentment, demand,
protest, dishonor or notice of any kind, all of which are hereby waived by the
Borrower.

     7. Non-Recourse Loan. Subject to the provisions of Section 8 and
notwithstanding any other provision in this Note or the other Loan Documents,
the personal liability of the Borrower and any Borrower Principal (collectively,
the Persons signing as the Borrower Principals at the end of this Note) to pay
the Principal Amount and interest thereon and any other sums under this Note or
the other Loan Documents shall be limited to (a) the Premises, (b) the
Intangible Personalty, (c) all Rents and Profits disbursed (except to the extent
that the Borrower did not have the legal right, because of a bankruptcy,
receivership or similar judicial proceeding, to direct the disbursement of such
sums), and not applied, first, to the payment of reasonable Operating Expenses
as such Operating Expenses become due and payable, and then, to the payment of
the Principal Amount and interest then due and payable under this Note and any
other sums due under the other Loan Documents (including but not limited to
deposits, escrows and/or reserves); provided, however, that there shall be no
personal liability incurred for Rents and Profits distributed in any particular
fiscal year to the extent that all Operating Expenses and principal and interest
due under this Note and other sums due under the other Loan Documents (including
but not limited to deposits, escrows and or reserves) are paid in full in that
fiscal year, and (d) all other collateral or security for the Loan.

                                      -4-

<PAGE>
     Except as provided above and in Section 8, the Lender shall not seek (i)
any judgment for a deficiency against the Borrower or any Borrower Principal or
the Borrower's or any Borrower Principal's heirs, legal representatives,
successors or assigns, in any action to enforce any right or remedy under the
Security Instrument, or (ii) any judgment on this Note except as may be
necessary in any action brought under the Security Instrument to enforce the
lien against the Premises, the Intangible Personalty, the Rents and Profits or
any other collateral or security for the Loan, or to exercise any remedies under
any of the other Loan Documents.

     8. Exceptions to Non-Recourse Liability. If, without obtaining the Lender's
prior written consent, there shall occur any violation of any of the Recourse
Covenants (as defined in the Loan Agreement), and if such violation shall
continue for thirty (30) days after written notice thereof from the Lender to
the Borrower, then Section 7 hereof shall not apply from and after the date
which is thirty (30) days after such written notice and the Borrower and the
Borrower Principals (each individually on a joint and several basis if more than
one) shall be personally liable on a joint and several basis for full recourse
liability under this Note and the other Loan Documents.

     Notwithstanding Section 7 hereof, the Borrower and the Borrower Principals
(each individually on a joint and several basis if more than one) shall be
personally liable on a joint and several basis, in the amount of any loss,
damage or cost (including but not limited to reasonable attorney's fees)
resulting from (A) fraud or intentional misrepresentation by the Borrower or any
Borrower Principal, or any agent, contractor or employee of the Borrower or any
Borrower Principal, in connection with obtaining the Loan, or in complying with
any of the Borrower's obligations under the Loan Documents, (B) sale proceeds,
insurance proceeds, condemnation awards, security deposits from tenants or other
sums or payments received by or on behalf of the Borrower in its capacity as
owner of the Premises and not applied in accordance with the provisions of the
Loan Documents (except to the extent that the Borrower did not have the legal
right because of a bankruptcy, receivership or similar judicial proceeding to
direct the disbursement of such sums or payments), (C) all Rents and, profits
disbursed (except to the extent, that the Borrower did not have the legal right,
because of a bankruptcy receivership or similar judicial proceeding, to direct
the disbursement of such sums), and not applied, first, to the payment of
reasonable Operating Expenses as such Operating Expenses become due and payable,
and then, to the payment of the Principal Amount and interest then due and
payable under this Note and any other sums due under the other Loan Documents
(including but not limited to deposits, escrows and/or reserves); provided,
however, that there shall be no personal liability incurred for Rents and
Profits distributed in any particular fiscal year to the extent that all
Operating Expenses and principal and interest due under this Note and other sums
due under the other Loan Documents (including but not limited to deposits,
escrows and/or reserves) are paid in full in that fiscal year, (D) the
Borrower's failure following any Event of Default to deliver to the Lender on
demand all Rents and Profits, security deposits (except to the extent that the
Borrower did not have the legal right because of a bankruptcy, receivership or
similar judicial proceeding to direct the disbursement of such sums), books and
records relating to the Premises, (E) any damage to the Premises caused by the
willful, wanton or tortious act or omission of the Borrower, (F) the Borrower's
failure to procure and maintain the insurance policies required by the Loan
Agreement, (G) the Lender's incurrence and obligation to pay attorney's fees,
costs, and expenses in any bankruptcy, receivership or similar case filed by or
against the Borrower or any Borrower Principal, (H) any transfer tax,
recordation tax or other similar tax or assessment, if any, in connection with
the transactions contemplated by the Loan Documents, or (I) any violation of or
failure to comply with the Environmental Covenants (as defined in the Loan
Agreement), including without limitation, the indemnification obligations set
forth therein.

     No provision of Section 7 or Section 8 shall (i) affect any guaranty or
similar agreement executed in connection with the debt evidenced by this Note,
(ii) release or reduce the debt evidenced by this Note, (iii) impair the right
of the Lender to enforce the Environmental Covenants pursuant to the provisions
of the Loan Agreement, (iv) impair the lien of the Security Instrument, or (v)
constitute a waiver, forfeiture, abrogation or limitation of or on any right
accorded by any law establishing a debtor-in-relief proceeding (including, but
not limited to, Title 11, U.S. Code) which right provides for the assertion in
such debtor-in-relief proceeding of a deficiency arising by reason of the
insufficiency of collateral notwithstanding an agreement of the holder thereof
not to assert such a deficiency.

                                      -5-

<PAGE>

     9. Expenses. In the event this Note is not paid when due at any stated or
accelerated maturity, the Borrower will pay, in addition to the Principal Amount
and interest hereunder, all costs of collection, including reasonable attorney's
fees.

     10. Taxpayer Identification Number. This Note provides for the Borrower's
federal taxpayer identification number to be inserted on the first page of this
Note. If such number is not available at the time of execution of this Note or
is not inserted by the Borrower, the Borrower hereby authorizes and directs the
Lender to fill in such number on the first page of this Note when the Borrower
provides to Lender, advises the Lender of, or the Lender otherwise obtains, such
number.

     11. Notice. Any notice to the Lender provided for in this Note shall be
given in the manner provided in the Loan Agreement.

     12. Governing Law and Jurisdiction. This Note and the other Loan Documents
and all matters relating thereto shall be governed by and construed and
interpreted in accordance with the laws of the State where the Premises
is located. The Borrower and each Borrower Principal hereby submit to the
jurisdiction of the state and federal courts located in the State where the
Premises is located and agree that the Lender may, at its sole discretion,
enforce its rights under the Loan Documents in such courts.

     13. Maximum Rate of Interest. This Note is subject to the express condition
that at no time shall the Borrower be obligated or required to pay interest on
the Principal Amount at a rate which could subject the Lender to either civil or
criminal liability as a result of being in excess of the maximum interest rate
which the Borrower is permitted by applicable law to contract or agree to pay.
If by the terms of this Note, the Borrower is at any time required or obligated
to pay interest on the Principal Amount at a rate in excess of such maximum
rate, the rate of interest under this Note shall be deemed to be immediately
reduced to such maximum rate and all previous payments in excess of the maximum
rate shall be deemed to have been payments in reduction of the Principal Amount
and not on account of the interest due hereunder.

     14. No Third Party Beneficiary. The Borrower acknowledges and agrees that
(i) any arrangement for interim advancement of funds that originally is made by
the Lender named in this Note to any investor in the secondary mortgage market
is made pursuant to a contractual obligation of such Lender to that investor
that is independent of, and separate and distinct from, the obligation of the
Borrower for the full and prompt payment of the indebtedness evidenced by this
Note, (ii) the Borrower shall not be deemed to be a third party beneficiary of
such arrangement for interim advancement of funds, and (iii) no such interim
advancement arrangement shall constitute any person or entity making such
payment as a guarantor or surety of the Borrower's obligations, notwithstanding
the fact that the obligations under any such interim advancement arrangement may
be calculated with reference to amounts payable under this Note or the other
Loan Documents.

     15. General Provisions. A determination that any provision of this Note is
unenforceable or invalid shall not affect the enforceability or validity of any
other provision and the determination that the application of any provision of
this Note to any Person or circumstance is illegal or unenforceable shall not
affect the enforceability or validity of such provision as it may apply to other
Persons or circumstances. This Note may not be amended except in a writing
specifically intended for the purpose and executed by the party against whom
enforcement thereof is sought. The holder of this Note may, from time to time,
sell, assign or participate or offer to sell, assign or participate the Loan, or
interests therein, to one or more Persons (including, without limitation
assignees or participants) and is hereby authorized to disseminate any
information it has pertaining to the Loan, including, without limitation, any
security for this Note and credit information on the Borrower, any of its
principals and any Borrower Principal, to any such Person, and to the extent, if
any, specified in any such sale, assignment or participation, such Person shall
have the rights and benefits with respect

                                      -6-

<PAGE>

to this Note and the other Loan Documents as such Person would have if such
Person were the Lender hereunder. The Borrower warrants and represents to the
Lender and all other holders of this Note that the Loan is and will be for
business or commercial purposes and not primarily for personal, family, or
household use. The terms, provisions, covenants and conditions hereof shall be
binding upon the Borrower and the heirs, devisees, representatives, successors
and assigns of the Borrower. Captions and headings in this Note are for
convenience only and shall be disregarded in construing it.

     16. WRITTEN AGREEMENT.

        (a) THE RIGHTS AND OBLIGATIONS OF THE BORROWER, EACH BORROWER PRINCIPAL
     AND THE LENDER SHALL BE DETERMINED SOLELY FROM THIS WRITTEN NOTE AND THE
     OTHER LOAN DOCUMENTS, AND ANY PRIOR ORAL OR WRITTEN AGREEMENTS BETWEEN THE
     LENDER, THE BORROWER AND ANY BORROWER PRINCIPAL CONCERNING THE SUBJECT
     MATTER HEREOF AND OF THE OTHER LOAN DOCUMENTS ARE SUPERSEDED BY AND MERGED
     INTO THIS NOTE AND THE OTHER LOAN DOCUMENTS.

        (b) THIS NOTE AND THE OTHER LOAN DOCUMENTS MAY NOT BE VARIED BY ANY ORAL
     AGREEMENTS OR DISCUSSIONS THAT OCCUR BEFORE, CONTEMPORANEOUSLY WITH, OR
     SUBSEQUENT TO THE EXECUTION OF THIS NOTE OR THE LOAN DOCUMENTS.

        (c) THIS WRITTEN NOTE AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL
     AGREEMENTS BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF
     PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE
     ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

     17. WAIVER OF JURY TRIAL. THE LENDER, THE BORROWER AND EACH
BORROWER PRINCIPAL HEREBY WAIVE, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW. THE RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING BASED UPON, OR
RELATED TO, THE SUBJECT MATTER OF THIS NOTE. THIS WAIVER IS KNOWINGLY,
INTENTIONALLY, AND VOLUNTARILY MADE BY THE LENDER THE BORROWER AND EACH BORROWER
PRINCIPAL AND THE LENDER, THE BORROWER AND EACH BORROWER PRINCIPAL ACKNOWLEDGE
THAT NO PERSON ACTING ON BEHALF OF ANOTHER PARTY TO THIS NOTE HAS MADE ANY
REPRESENTATIONS OF FACT TO INDUCE THIS WAIVER OF TRIAL BY JURY OR IN ANY WAY TO
MODIFY OR NULLIFY ITS EFFECT. THE LENDER, THE BORROWER AND EACH BORROWER
PRINCIPAL FURTHER ACKNOWLEDGE THAT THEY HAVE BEEN REPRESENTED (OR HAVE HAD THE
OPPORTUNITY TO BE REPRESENTED) IN THE SIGNING OF THIS NOTE AND IN THE MAKING OF
THIS WAIVER BY INDEPENDENT LEGAL COUNSEL, SELECTED OF THEIR OWN FREE WILL, AND
THAT THEY HAVE HAD THE OPPORTUNITY TO DISCUSS THIS WAIVER WITH COUNSEL.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                      -7-

<PAGE>

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

                            BORROWER:

                            TOWNFAIR CENTER ASSOCIATES, a Pennsylvania general
                            partnership

                            By:     P. J. Dick Incorporated, a Pennsylvania
                                    corporation, a General Partner

                            By: /s/ Stephen M. Clark                      (SEAL)
                                    -------------------------------------
                                    Name: STEPHEN M. CLARK
                                    Title: EXECUTIVE VICE PRESIDENT

                            By:     Michael Joseph Limited Partnership #2, a
                                    Pennsylvania limited partnership, a General
                                    Partner

                            By:     Michael Joseph Development Corporation, a
                                    Pennsylvania corporation, its General
                                    Partner

                            By: /s/ Guy J. DiRienzo                       (SEAL)
                                    -------------------------------------
                                    Name: Guy J. DiRienzo
                                    Title: VICE PRESIDENT

                                      -8-

<PAGE>

             Acknowledgment and Agreement of the Borrower Principal
            to Personal Liability for the Exceptions to Non-Recourse

     Each Borrower Principal hereby represents to the Lender that such Borrower
Principal has a direct or an indirect ownership interest in the Borrower and
that he or she participates in the management of the Borrower.

     BY SIGNING BELOW, each Borrower Principal understands, accepts and agrees
to the provisions of this Note, including without limitation, Sections 7 and 8
above. No transfer of any Borrower Principal's ownership interest in the
Borrower or in any other entity which directly or indirectly has an ownership
interest in the Borrower shall release the Borrower Principal from liability
hereunder, unless the Lender shall have approved the transfer, the substituted
Borrower Principal and the release of the Borrower Principal from liability
hereunder in writing. No such Borrower Principal shall have any right of
subrogation against the Borrower by reason of any payment by the Borrower
Principal pursuant to this Note, including without limitation, Sections 7 and 8
above, prior to the full and final satisfaction of this Note and all other
obligations of the Borrower under the Loan Documents.

                                      BORROWER PRINCIPAL(S):

                                  /s/ Clifford R. Rowe, Jr.               (SEAL)
                                      -----------------------------------
                                      Clifford R. Rowe, Jr.

                                  /s/ Robert G. Hecht                     (SEAL)
                                      -----------------------------------
                                      Robert G. Hecht

                                  /s/ Kevin M. Dougherty                 (SEAL)
                                      -----------------------------------
                                      Kevin M. Dougherty

                                  /s/ Guy J. DiRienzo                     (SEAL)
                                      -----------------------------------
                                      Guy J. DiRienzo

                                 ACKNOWLEDGMENT

Commonwealth of Pennsylvania, [graphic omitted] County ss:

     On this 30th day of January, 1998, before me, the undersigned officer,
personally appeared Clifford R. Rowe, Jr., known to me (or satisfactorily
proven) to be the person whose name is subscribed to the within instrument and
acknowledged that he executed the same for the purposes therein contained.

     In Witness Whereof, I hereunto set my hand and official seal.

                                  /s/ Sara J. Paterick
                                      -----------------------------------
                                      Notary Public
                                      Title of Officer

                                                               [graphic omitted]

                                      -9-

<PAGE>

                                 ACKNOWLEDGMENT

Commonwealth of Pennsylvania, [graphic omitted] County ss:

     On this 30th day of January, 1998, before me, the undersigned officer,
personally appeared Robert G. Hecht, known to me (or satisfactorily proven) to
be the person whose name is subscribed to the within instrument and acknowledged
that he executed the same for the purposes therein contained.

     In Witness Whereof, I hereunto set my hand and official seal.

                                  /s/ Sara J. Paterick
                                      -----------------------------------
                                      Notary Public
                                      Title of Officer

[graphic omitted]

                                 ACKNOWLEDGMENT

Commonwealth of Pennsylvania, [graphic omitted] County ss:

     On this 13th day of February, 1998, before me, the undersigned officer,
personally appeared Kevin M. Dougherty, known to me (or satisfactorily proven)
to be the person whose name is subscribed to the within instrument and
acknowledged that he executed the same for the purposes therein contained.

     In Witness Whereof, I hereunto set my hand and official seal.

                                  /s/ Lisa A. Augustine
                                      -----------------------------------
                                      Title of Officer

[graphic omitted]

                                 ACKNOWLEDGMENT

Commonwealth of Pennsylvania, [graphic omitted] County  ss:

     On this 13th day of February, 1998, before me, the undersigned officer,
personally appeared Guy J. DiRienzo, known to me (or satisfactorily proven) to
be the person whose name is subscribed to the within instrument and acknowledged
that he executed the same for the purposes therein contained.

     In Witness Whereof, I hereunto set my hand and official seal.

                                  /s/ Lisa A. Augustine
                                      -----------------------------------
                                      Title of Officer

[graphic omitted]

                                      -10-

<PAGE>

PAY TO THE ORDER OF

----------------------------------------
WITHOUT RECOURSE.

PATRICIAN FINANCIAL COMPANY LIMITED PARTNERSHIP,
a Massachusetts limited partnership

By:   BRF Corporation, a Massachusetts corporation,
      its General Partner

By:   /s/ Mark E. Gordon
      ------------------------------
      Mark E. Gordon
      Vice President,
      Patrician Operation

                                      -11-<PAGE>

When Recorded Mail To: 33965

David J. McPherson, Esq.
Morgan, Lewis & Bockius LLP
1800 M Street, N.W.
Washington, D.C. 20036                                      Loan No.: 53-0000494
                                                            Servicing No.: 50514
COMMONWEALTH OF PENNSYLVANIA

COUNTY OF INDIANA

                               OPEN-END MORTGAGE,
                         ASSIGNMENT OF LEASES AND RENTS
                             AND SECURITY AGREEMENT
                    (THIS INSTRUMENT SECURES FUTURE ADVANCES)

                       COLLATERAL IS OR INCLUDES FIXTURES

        THIS OPEN-END MORTGAGE, ASSIGNMENT OF LEASES AND RENTS AND SECURITY
AGREEMENT (the "Security Instrument") is made and entered into as of the 13th
day of February, 1998, by TOWNFAIR CENTER ASSOCIATES, a Pennsylvania general
partnership (the "Borrower"), in favor of PATRICIAN FINANCIAL COMPANY LIMITED
PARTNERSHIP, a Massachusetts limited partnership, together with its successors
and assigns (the "Lender").

        This Security Instrument secures (i) the obligations of the Borrower
under the promissory note, executed by the Borrower, of even date herewith,
payable to the order of the Lender in the original principal amount of
$10,700,000.00 (such promissory note and all amendments, renewals,
replacements, extensions or other modifications being hereinafter referred to
as the "Note"); (ii) me performance by the Borrower of its obligations under
the Loan Agreement of even date herewith between the Borrower and the Lender
(as amended, modified or restated, the "Loan Agreement") and under all other
Loan Documents (as defined in the Loan Agreement) executed by the Borrower in
connection with the loan evidenced by the Note (the "Loan"); and (iii) the
payment by the Borrower of all other sums, with interest thereon, advanced in
accordance with the Note, the Loan Agreement or any other Loan Document to
protect the security of this Security Instrument.

        Capitalized terms used, but not defined, herein shall have the meanings
given to such terms in the Loan Agreement. All of the terms, definitions,
conditions and covenants of the Loan Agreement are expressly made a part of
this Security Instrument by reference in the same manner and with the same
effect as if set forth herein at length and any beneficiary of this Security
Instrument is entitled to the benefits of and remedies provided in the Loan
Agreement, the Note and other Loan Documents by and between the Borrower and
the Lender.

                                   WITNESSETH:

        The Borrower, intending to be legally bound hereby, does hereby give,
grant, bargain, sell, warrant, alienate, remise, release, convey, assign,
transfer, mortgage, hypothecate, deposit, pledge, set over and confirm unto the
Lender and does agree that the Lender shall have a security interest in the
following described property, all accessions and additions thereto, all
substitutions therefor and replacements and proceeds thereof, and all
reversions and remainders of such property now owned or held or hereafter
acquired, to wit:

<PAGE>

        (a)   All that tract or parcel of land and other real property interests
in Indiana County, Commonwealth of Pennsylvania more particularly described in
Exhibit A attached hereto and made a part hereof (the "Land"), subject to the
permitted encumbrances described in Exhibit B attached hereto and made a part
hereof; and

        (b)   All buildings, improvements and tenements of every kind and
description now or hereafter erected or placed on the Land (the "Improvements")
and all materials intended for construction, reconstruction, alteration and
repair of such Improvements now or hereafter erected or placed thereon, all of
which materials shall be deemed to be included within the premises hereby
conveyed immediately upon the delivery thereof to the Land, and all Tangible
Personalty (as defined in the Personalty Rider attached hereto and made a part
hereof for all purposes).

        TO HAVE AND HOLD the same, together with all privileges, hereditaments,
easements and appurtenances thereunto belonging, to the Lender and the Lender's
successors and assigns to secure the indebtedness herein recited and upon this
special trust: that should the indebtedness secured hereby be paid according to
the tenor and effect thereof when the same shall be due and payable and should
the Borrower timely and fully discharge its obligations hereunder and under the
other Loan Documents, then the Land, Improvements and Tangible Personalty
(hereinafter collectively referred to as the "Premises") shall be reconveyed to
the Borrower or the title thereto shall be revested according to the provisions
of applicable law.

        As additional collateral and further security for the indebtedness
secured hereby, to the fullest extent permitted by applicable law, the Borrower
does hereby assign to the Lender and grants to the Lender a security interest in
all of the right, title and interest of the Borrower in and to any and all
Intangible Personalty (as defined in the Personalty Rider attached hereto), and
the Borrower agrees to execute and deliver to the Lender such additional
instruments, in form and substance satisfactory to the Lender, as may hereafter
be requested by the Lender to evidence and confirm said assignment; provided,
however, that acceptance of any such assignment shall not be construed as a
consent by the Lender to any of the foregoing or to impose upon the Lender any
obligation with respect thereto.

        As part of the consideration for the indebtedness secured hereby, the
Borrower hereby absolutely and unconditionally assigns and transfers to the
Lender and grants to the Lender a security interest in any and all leases and
other occupancy or use agreements (whether oral or written) now existing or
hereafter made and affecting the Premises as such leases and other agreements
may have been, or may from time to time be hereafter, modified, extended and
renewed, with all the security deposits, rents (including, without limitation,
room rents and room revenues, if any), issues, profits, revenues and other
income of the Premises from time to time accruing therefrom (the "Rents and
Profits"), and the acceptance of this assignment and the collection of the Rents
and Profits or the payments under the leases hereby assigned shall not
constitute a waiver of any rights of the Lender under the terms of the Loan
Documents. So long as there shall exist no Event of Default (as defined in the
Loan Agreement), the Borrower shall have the right under a license granted
hereby (but limited as provided elsewhere in this Security Instrument and in the
Loan Agreement) to collect upon, but not more than two months prior to accrual,
all of said Rents and Profits, arising from or out of such leases and other
agreements or any modifications, renewals or extensions thereof, or from or out
of the Premises or any part thereof, and the Borrower shall receive such Rents
and Profits, as a trust fund to be applied, and the Borrower hereby covenants to
so apply same, to the payment of taxes and assessments upon the Premises before
penalty or interest are due thereon, to the cost of such insurance and of such
maintenance and repairs as is required by the terms of the Security Instrument
and Loan Agreement, to the payment of Operating Expenses (as defined in the Loan
Agreement), and to the payment of interest and principal and other amounts
becoming due on the Loan or under the Loan Documents, before using any part of
the same for any other purposes.

        All the Tangible Personalty which comprises a part of the Premises
shall, as far as permitted by applicable law, be deemed to be affixed to the
Land and conveyed therewith. As to the balance of the Tangible Personalty and
the Intangible Personalty, this Security Instrument shall be considered to be a
security agreement which creates a security interest in such items for the
benefit of the Lender. In that regard, the Borrower grants to the Lender all of
the rights and remedies of a secured party under the laws of the state in which
the Premises is located.

                                      -2-
<PAGE>

        The Borrower covenants, warrants, represents and agrees as follows:

1.      Amount Secured. This Security Instrument secures all present and future
loan disbursements made by the Lender under the Note, and all other sums from
time to time owing to the Lender by the Borrower under the other Loan Documents,
including, without limitation, sums advanced in accordance herewith to protect
the security of this Security Instrument. The principal amount secured hereby is
$10,700,000.00.

2.      Acceleration: Foreclosure. Upon the occurrence of an Event of Default,
the Lender, at the Lender's option, may declare the entire balance of the Loan,
including all accrued interest, to be immediately due and payable without
further demand and may foreclose the lien of this Security Instrument by
judicial proceeding and may pursue any other remedies permitted by applicable
law or provided herein or in any of the other Loan Documents. The Lender shall
be entitled to collect all fees, costs and expenses incurred in pursuing such
remedies, including, but not limited to, reasonable attorney's fees of up to 5%
of the unpaid balance of the sums secured by this Security Instrument, but not
less than US$525,000.00 and costs of documentary evidence, abstracts and title
reports.

3.      Rights Upon Event of Default. Upon the occurrence of any Event of
Default, the Lender, immediately and without additional notice and without
liability therefor to the Borrower, except for gross negligence or willful
misconduct, may, in accordance with, and subject to, the terms and conditions of
the Loan Agreement, do or cause to be done any or all of the following: (a) take
physical possession of the Premises; (b) exercise its right to collect the
Rents and Profits; (c) enter into contracts for the repair and maintenance of
the Improvements thereon; (d) expend Loan funds and any Rents and Profits for
payment of any taxes, insurance premiums, assessments and charges for repair
and maintenance of the Improvements, preservation of the lien of this Security
Instrument and satisfaction and fulfillment of any liabilities or obligations
of the Borrower arising out of or in any way connected with the use, repair or
maintenance of Improvements on the Premises whether or not such liabilities and
obligations in any way affect, or may affect, the lien of this Security
Instrument; (e) enter into leases demising the Premises or any part thereof;
(f) take such steps to protect and enforce the specific performance of any
covenant, condition or agreement in the Note, this Security Instrument, the
Loan Agreement, or the other Loan Documents, or to aid in the execution of any
power herein granted; (g) take such steps to protect and enforce the specific
performance of any convenant, condition or agreement as to the Intangible
Personalty; and (h) generally, supervise, manage, and contract with reference
to the Premises as if the Lender were an equitable owner of the Premises.
Notwithstanding the occurrence of an Event of Default or acceleration of the
Loan, the Lender shall continue to have the right to pay money, whether or not
Loan funds, for the purposes described in the Loan Agreement, and all such sums
and interest thereon shall be secured hereby. The Borrower also agrees that any
of the foregoing rights and remedies of the Lender may be exercised at any time
independently of the exercise of any other such rights and remedies, and the
Lender may continue to exercise any or all such rights and remedies until the
Event of Default is cured or until foreclosure and the conveyance of the
Premises to the high bidder or until the Loan is otherwise satisfied or paid in
full.

4.      Purchase Money Mortgage. If all or part of the sums secured by this
Security Instrument are lent to Borrower to acquire title to the Premises, this
Security Instrument is hereby declared to be a purchase money mortgage.

5.      CONFESSION OF JUDGMENT FOR POSSESSION. FOR THE PURPOSE OF OBTAINING
POSSESSION OF THE PREMISES IN THE EVENT OF ANY EVENT OF ANY DEFAULT HEREUNDER
OR UNDER THE NOTE, THE BORROWER IRREVOCABLY AUTHORIZES AND EMPOWERS ANY
ATTORNEY OF RECORD, OR THE PROTHONOTARY, CLERK OR SIMILAR OFFICER, OF ANY COURT
IN THE COMMONWEALTH OF PENNSYLVANIA OR ELSEWHERE, AS ATTORNEY FOR THE BORROWER,
AS WELL AS FOR THE PERSONS CLAIMING UNDER, BY OR THROUGH THE BORROWER, TO
APPEAR FOR THE BORROWER IN ANY SUCH COURT IN ANY SUCH ACTION BROUGHT AGAINST
THE BORROWER AT THE SUIT OF THE LENDER TO RECOVER POSSESSION OF THE PREMISES
AND THEREIN TO CONFESS JUDGMENT IN EJECTMENT FOR POSSESSION OF THE PREMISES
(WITHOUT THE NECESSITY OF FILING ANY BOND AND WITHOUT ANY STAY OF EXECUTION OR
APPEAL) AGAINST THE BORROWER AND ALL PERSONS CLAIMING UNDER, BY OR THROUGH THE
BORROWER, FOR WHICH THIS INSTRUMENT (OR A COPY THEREOF VERIFIED

                                      -3-
<PAGE>

BY AFFIDAVIT) SHALL BE A SUFFICIENT WARRANT; WHEREUPON A WRIT OF POSSESSION OF
THE PREMISES MAY BE ISSUED FORTHWITH, WITHOUT ANY PRIOR WRIT OR PROCEEDING
WHATSOEVER, THE BORROWER HEREBY RELEASING AND AGREEING TO RELEASE THE LENDER AND
ANY SUCH ATTORNEY FROM ALL PROCEDURAL ERRORS AND DEFECTS WHATSOEVER IN ENTERING
SUCH JUDGMENT OR IN CAUSING SUCH WRIT OR PROCESS TO BE ISSUED OR IN ANY
PROCEEDING THEREON OR CONCERNING THE SAME, PROVIDED THAT THE LENDER SHALL HAVE
FILED IN SUCH ACTION AN AFFIDAVIT MADE ON THE LENDER'S BEHALF SETTING FORTH THE
FACTS NECESSARY TO AUTHORIZE THE ENTRY OF SUCH JUDGMENT ACCORDING TO THE TERMS
OF THIS INSTRUMENT, OF WHICH FACTS SUCH AFFIDAVIT SHALL BE PRIMA FACIE EVIDENCE.
IT IS HEREBY EXPRESSLY AGREED THAT IF FOR ANY REASON AFTER ANY SUCH ACTION HAS
BEEN COMMENCED, THE SAME SHALL BE DISCONTINUED, MARKED SATISFIED OF RECORD OR BE
TERMINATED, OR POSSESSION OF THE PREMISES REMAIN IN OR BE RESTORED TO THE
BORROWER OR ANYONE CLAIMING UNDER, BY OR THROUGH THE BORROWER, THE LENDER MAY,
WHENEVER AND AS OFTEN AS THE LENDER SHALL HAVE THE RIGHT TO TAKE POSSESSION
AGAIN OF THE PREMISES, BRING ONE OR MORE FURTHER ACTIONS TO RECOVER POSSESSION
OF THE PREMISES AND TO CONFESS JUDGMENT THEREIN AS HEREINABOVE PROVIDED, AND THE
AUTHORITY AND POWER ABOVE GIVEN TO ANY SUCH ATTORNEY SHALL EXTEND TO ALL SUCH
FURTHER ACTIONS IN EJECTMENT AND CONFESSION OF JUDGMENT THEREIN AS HEREINABOVE
PROVIDED WHETHER BEFORE OR AFTER AN ACTION OF MORTGAGE FORECLOSURE IS BROUGHT OR
OTHER PROCEEDINGS IN EXECUTION ARE INSTITUTED UPON THIS MORTGAGE AND SECURITY
AGREEMENT OR EITHER OF THE NOTES, AND AFTER JUDGMENT THEREON OR THEREIN AND
AFTER A JUDICIAL SALE OF THE PREMISES.

6.      Rents and Profits.
        (a)    Collection. The Borrower hereby authorizes the Lender, by its
employees or agents, at its option, after the occurrence of an Event of Default,
to terminate the aforesaid license granted to the Borrower to collect said Rents
and Profits, and to enter upon the Premises, and to collect, in accordance with
the Loan Agreement and in the name of the Borrower or in its own name, as
assignee, the Rents and Profits accrued but unpaid and in arrears at the date of
said Event of Default as well as the rents thereafter accruing and becoming
payable during the period of the continuance of such Event of Default or any
other Event of Default; and to this end, the Borrower further agrees that it
will facilitate in all reasonable ways the Lender's collection of said Rents and
Profits, and will, upon request by the Lender, execute a written notice to each
tenant directing the tenant to pay rent to the Lender. Upon such entry, the
Lender shall be authorized, but not obligated, to take over and assume the
control, care, management, operation, repair and maintenance of the Premises and
to perform such other acts as the Lender in its sole discretion may deem proper,
and to expend such sums out of the income of the Premises as may be needful in
connection therewith (including the right to effect new leases, to cancel or
surrender existing leases, to evict tenants, to bring or defend any suits in
connection with the possession of any portion of the Premises in its own name or
the Borrower's name, to alter or to amend the terms of existing leases, to renew
existing leases, and to make concessions to the tenants). The Borrower hereby
releases all claims against the Lender arising out of such management,
operation, repair and maintenance, excepting the liability of the Lender to
account as hereinafter set forth, and except claims arising from the gross
negligence or willful misconduct of the Lender.

        (b)    Indemnity. Unless and until the license  granted to the Borrower
in this Security Instrument to collect the Rent and Profits is terminated and
the Lender enters the Premises as described herein, the Lender shall not be
obligated to perform or discharge any obligation or duty to be performed or
discharged by the Borrower under any of said leases, and the Borrower hereby
agrees to indemnify the Lender for, and to save it harmless from, any and all
liability arising from any of said leases or from this assignment, and this
assignment shall not place responsibility for the conduct, care, management, or
repair of the Premises upon the Lender, or make the Lender responsible or
liable for any negligence in the management, operation, upkeep, repair or
control of said Premises resulting in loss or injury to, or death of, any
invitee, tenant, licensee, employee or stranger and/or damage to, or destruction
of, the Premises.

                                      -4-
<PAGE>

7.      Appointment of Receiver. Upon the occurrence of an Event of Default, the
Lender shall be entitled, without additional notice and without regard to the
adequacy of any security for the Loan or the solvency of any party bound for its
payment, to seek the appointment of a receiver to take possession of and to
operate the Premises, and to collect the Rents and Profits, all expenses of
which shall be added to the Loan and secured hereby.

8.      Judicial Sale. To the extent now or hereafter permitted by law and
subject to such grace periods and notice requirements thereby imposed, the
Lender may cause a judicial sale of the Premises in accordance with this
Section. Such sale may be made without demand on the Borrower at the time and
place fixed in the notice of such sale, and such sale may be of the Premises as
a whole or in separate lots, and in such order as the Lender may determine, at
public auction to the highest bidder for cash in lawful money of the United
States, payable at time of sale. Such sale of the Premises may be postponed by
public announcement at the time and place of sale, and may be further postponed
from time to time thereafter by public announcement at the time fixed by the
preceding postponement. Any person or entity, including the Lender, may purchase
at such sale. After deducting all costs, fees, and expenses of the Lender,
including cost of evidence of title in connection with such sale, the proceeds
of sale shall be applied to payment of the sums secured by this Security
Instrument. The Premises may be sold as aforesaid either before, after, or
during the pendency of any proceedings for the enforcement of the provisions of
this Security Agreement, and such power and right of sale shall not be affected
by any entry hereunder, or by the exercise of any other right, remedy or power
with respect to the enforcement of the provisions of any of the Loan Documents
or the collection of the amount of the sums secured by this Security Instrument.
The provisions of this Section are not intended to and shall not adversely
affect the Lender's rights to conduct a nonjudicial sale of such portions of the
Premises as constitute personal property.

9.      Waivers. No waiver of any Default Condition or Event of Default shall at
any time thereafter be held to be a waiver of any rights of the Lender stated
anywhere in the Note, this Security Instrument, the Loan Agreement or any of the
other Loan Documents, nor shall any waiver of any prior Default Condition or
Event of Default operate to waive any subsequent Default Condition and/or Event
of Default. All remedies provided in this Security Instrument, in the Note, in
the Loan Agreement and in the other Loan Documents are cumulative and may, at
the election of the Lender, be exercised alternatively, successively, or in any
manner and are in addition to any other rights provided by applicable law.

10.      Terms. The singular used herein shall be deemed to include the plural;
the masculine deemed to include the feminine and neuter; and the named parties
deemed to include their heirs, successors and assigns. The term "Lender" shall
include any payee of the indebtedness hereby secured or any transferee thereof
whether by operation of law or otherwise.

11.      Notices. All notices and other communications shall have been duly
given and shall be effective (i) when delivered, (ii) when transmitted via
telecopy (or other facsimile device) to the number set forth below, (iii) on the
day following the day on which the same has been delivered prepaid to a
reputable national overnight air courier service, or (iv) on the third Business
Day following the day on which the same is sent by certified or registered mail,
postage prepaid, in each case to the respective parties at the address set forth
below, or at such other address as such party may specify by written notice to
the other party hereto. No notice of change of address shall be effective except
upon actual receipt. This Section shall not be construed in any way to affect or
impair any waiver of notice or demand provided in any other Loan Document or to
require giving of notice or demand to or upon any Person in any situation or for
any reason.

        if to the Borrower:      Townfair Center Associates
                                 1020 Lebanon Road
                                 West Mifflin, Pennsylvania 15122
                                 Attn: Stephen M. Clark
                                 Telephone:   (412) 462-9300
                                 Telecopy:    (412) 462-1074

                                      -5-
<PAGE>

        With a copy to:          Michael Joseph Development Corporation
                                 Suite 300
                                 9000 Brooktree Road
                                 Wexford, Pennsylvania 15090
                                 Attn: Guy J. DiRienzo
                                 Telephone: (412) 934-1006
                                 Telecopy:  (412) 934-1004

                                           and

                                 Titus & McConomy LLP
                                 Twentieth Floor
                                 Four Gateway Center
                                 Pittsburgh, Pennsylvania 15222
                                 Attn: Donald T. Dulac, Jr., Esq.
                                 Telephone: (412) 642-2000
                                 Telecopy:  (412) 642-2950

       if to the Lender:         Patrician Financial Company Limited Partnership
                                 4550 Montgomery Avenue, Suite 1150
                                 Bethesda, Maryland 20814-3344
                                 Attn: Mark E. Gordon
                                 Telephone: (301) 718-2000
                                 Telecopy:  (301) 718-2010

The parties hereto agree that any notice sent to the Borrower at its address set
forth herein (or designated in accordance with this Section) shall be deemed
notice to all general partners or members of the Borrower, if any. Personal
delivery to a party or to any officer, partner, member, agent or employee of
such party at its address herein shall constitute receipt. Rejection or other
refusal to accept or inability to deliver because of changed address of which no
notice has been received shall also constitute receipt.

12.     Greater Estate. In the event that the Borrower is the owner of a
leasehold estate with respect to any portion of the Premises and, prior to the
satisfaction of the indebtedness secured hereby and the cancellation of this
Security Instrument of record, the Borrower obtains a fee estate in such portion
of the Premises, then, such fee estate shall automatically, and without further
action of any kind on the part of the Borrower, be and become subject to the
security lien of this Security Instrument.

13.     Imposition of Tax. In the event of the passage of any state, federal,
municipal or other governmental law, order, rule or regulation, in any manner
changing or modifying the laws now in force governing the taxation of debts
secured by mortgages or the manner of collecting taxes so as to affect adversely
the Lender, the Borrower will promptly pay any such tax on or before the due
date thereof; and if the Borrower fails to make such prompt payment or if any
such state, federal, municipal or other governmental law, order, rule or
regulation prohibits the Borrower from making such payment or would penalize the
Lender if the Borrower makes such payment, then the entire balance of the Loan
shall become due and payable upon demand at the sole option of the Lender.

14.     Defeasance. If the Borrower pays to the Lender in full the sums secured
by this Security Instrument in accordance with the provisions of the Loan
Documents, then this Security Instrument shall become void.

15.     Open-End Provisions. This Security Instrument is an "Open-End Mortgage"
as set forth in Pa. C.S.A. ss. 8143 (the "Act") and secures advances up to a
maximum indebtedness of $10,700,000.00 plus all accrued and unpaid interest,
advances for the payment of impositions, maintenance charges, insurance premiums
or costs incurred for the protection of the Premises or the lien of this
Security Instrument, expenses incurred by the Lender by reason of default by the
Borrower under this Security Instrument, and advances for the completion of the
Premises for which the Loan was made, together with all other sums due hereunder
or secured hereby. For the purposes of providing notices to the Lender under the
Act, the address of the Lender is 1020 Lebanon Road, West Mifflin, Pennsylvania
15122. All notices must be delivered as set forth in Section 11 above.

                                      -6-
<PAGE>

16.     Headings. The captions and headings herein are inserted only as a matter
of convenience and for reference and in no way define, limit, or describe the
scope of this Security Instrument nor the intent of any provision hereof.

17.     General Provisions. A determination that any provision of this Security
Instrument is unenforceable or invalid shall not affect the enforceability or
validity of any other provision and the determination that the application of
any provision of this Security Instrument to any Person or circumstance is
illegal or unenforceable shall not affect the enforceability or validity of such
provision as it may apply to other Persons or circumstances. This Security
Instrument may not be amended except in a writing specifically intended for such
purpose and executed by the party against whom enforcement of the amendment is
sought. The holder of this Security Instrument may, from time to time, sell or
offer to sell the Loan, or any interests therein, to one or more transferees,
assignees or participants and is hereby authorized to disseminate any
information it has pertaining to the Loan, including, without limitation, any
security for this Security Instrument and credit information on the Borrower,
any of its principals and any Borrower Principal (as defined in the Loan
Agreement), to any such transferee, assignee or participant or prospective
transferee, assignee or participant, and to the extent, if any, specified in any
such transfer instrument, assignment or participation, and such transferee,
assignee or participant shall have the rights and benefits with respect to this
Security Instrument and the other Loan Documents as such Person would have if
such Person were the Lender hereunder. The Borrower warrants and represents to
the Lender and all other holders of this Security Instrument that the Loan is
and will be for business or commercial purposes only and not primarily for
personal, family, or household use. The terms, provisions, covenants and
conditions hereof shall be binding upon the Borrower and the heirs, devisees,
representatives, successors and assigns of the Borrower.

18.     WRITTEN AGREEMENT.

        (a)    THE RIGHTS AND OBLIGATIONS OF THE BORROWER AND THE LENDER SHALL
BE DETERMINED SOLELY FROM THIS WRITTEN SECURITY INSTRUMENT AND THE OTHER LOAN
DOCUMENTS, AND ANY PRIOR ORAL OR WRITTEN AGREEMENTS BETWEEN THE LENDER AND THE
BORROWER CONCERNING THE SUBJECT MATTER HEREOF AND OF THE OTHER LOAN DOCUMENTS
ARE SUPERSEDED BY AND MERGED INTO THIS SECURITY INSTRUMENT AND THE OTHER LOAN
DOCUMENTS.

        (b)    THIS SECURITY INSTRUMENT AND THE OTHER LOAN DOCUMENTS MAY NOT BE
VARIED BY ANY ORAL AGREEMENTS OR DISCUSSIONS THAT OCCUR BEFORE,
CONTEMPORANEOUSLY WITH, OR SUBSEQUENT TO THE EXECUTION OF THIS SECURITY
INSTRUMENT OR THE LOAN DOCUMENTS.

        (c)    THIS WRITTEN SECURITY INSTRUMENT AND THE OTHER LOAN DOCUMENTS
REPRESENT THE FINAL AGREEMENTS BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED
BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE
PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

19.     WAIVER OF JURY TRIAL. THE LENDER AND THE BORROWER HEREBY WAIVE, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE RIGHT TO A TRIAL BY JURY IN ANY
ACTION OR PROCEEDING BASED UPON, OR RELATED TO, THE SUBJECT MATTER OF THIS
SECURITY INSTRUMENT. THIS WAIVER IS KNOWINGLY, INTENTIONALLY, AND VOLUNTARILY
MADE BY THE LENDER AND THE BORROWER, AND THE LENDER AND THE BORROWER ACKNOWLEDGE
THAT NO PERSON ACTING ON BEHALF OF ANOTHER PARTY TO THIS AGREEMENT HAS MADE ANY
REPRESENTATIONS OF FACT TO INDUCE THIS WAIVER OF TRIAL BY JURY OR IN ANY WAY TO
MODIFY OR NULLIFY ITS EFFECT. THE LENDER AND THE BORROWER FURTHER ACKNOWLEDGE

                                      -7-
<PAGE>

THAT THEY HAVE BEEN REPRESENTED (OR HAVE HAD THE OPPORTUNITY TO BE REPRESENTED)
IN THE SIGNING OF THIS SECURITY INSTRUMENT AND IN THE MAKING OF THIS WAIVER BY
INDEPENDENT LEGAL COUNSEL, SELECTED OF THEIR OWN FREE WILL, AND THAT THEY HAVE
HAD THE OPPORTUNITY TO DISCUSS THIS WAIVER WITH COUNSEL.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                      -8-
<PAGE>

                                PERSONALTY RIDER

                           (Retail/Industrial/office)

        The term "Intangible Personalty" as used herein shall mean any and all
present and future accounts, general intangibles, instruments, documents and
chattel paper now or hereafter affecting or relating to the Premises or any part
thereof, and all proceeds or products thereof, including without limitation, (i)
all leases (including equipment leases), rental agreements, sales contracts,
management contracts, franchise and related agreements, construction contracts,
architects' contracts, technical services agreements, licenses and permits, (ii)
all receivables, customer obligations, installment payment obligations and other
obligations now existing or hereafter arising or created out of the sale or
lease of property or rendering of services by the Borrower in its business of
ownership and operation of the Premises or acquired from others including,
without limiting the generality of the foregoing, from rental of rooms, halls,
stores, offices, exhibit or sales space of every kind, license, lease and
concession fees and rentals, health club membership fees, food and beverage,
whole and retail sales of merchandise, service charges, and proceeds, if any,
from business interruption or other loss of income insurance, (iii) all of the
Borrower's right, title and interest in all royalties, license fees and other
income or proceeds derived from trademarks, trademark applications, the
registration therefor, the good will of the business symbolized by the same, now
or hereafter filed, owned or acquired.

        The term "Tangible Personalty" as used herein shall mean any and all
fixtures, equipment, furnishings and other articles of personal property now or
hereafter owned by the Borrower and attached to or contained in and used in
connection with the Land and Improvements including, but not limited to, all
furniture, furnishings, apparatus, machinery, equipment, motors, boilers,
buildings, materials, appliances, fire prevention and extinguishing apparatus,
security and access control apparatus, trash receptacles, bath rubs, water
heaters, water closets, sinks, dishwashers, disposals, washers, dryers,
elevators, fittings, radiators, ranges, refrigerators, awnings, storm windows,
storm doors, shades, screens, blinds, curtains and curtain rods, mirrors,
cabinets, paneling, rugs, pictures, antennas, trees, plants, carpeting, office
equipment and other furnishings and all plumbing, heating, lighting, cooking,
laundry, ventilating, refrigerating, incinerating, trash compacting,
air-conditioning and sprinkler equipment, telephone systems, televisions and
television systems, computer systems and fixtures and appurtenances thereto and
all renewals or replacements thereof or articles in substitution thereof,
whether or not the same are or shall be attached to the Land and Improvements
in any manner, and all proceeds and products of any of the foregoing.

<PAGE>

                                    EXHIBIT A
--------------------------------------------------------------------------------

ALL those certain lots or pieces of ground situate in the Township of White,
Indiana County, Pennsylvania, being known as Lots Nos. 4C, 4A, and Parcel A-l in
the Townfair Plan No. 2 as recorded in the Office of the Recorder of Deeds of
Indiana County, Pennsylvania in Plan Book Volume 6, Page 151 and Lots 1 and 2 in
the Townfair Plan No. 1 as recorded in said Office in Plan Book Volume 5, page
216 being more particularly bounded and described as follows:

BEGINNING at a point on the westerly right of way line of Woodridge Lane, 50.00
feet wide, at the line dividing Lot 4A and Lot 4B in the Townfair Plan No. 2 as
recorded in the Office of the Recorder of Deeds of Indiana County, Pennsylvania,
in Plan Book Volume 6, Page 151; thence from said point of beginning by the line
dividing Lot 4A and Lot 4B in said Townfair Plan No. 2 the following six (6)
courses and distances:

North 84(degree) 19' 30" West a distance of 79.12 feet;
North 66(degree) 43' 51" West a distance of 103.04 feet;
South 83(degree) 09' 40" West a distance of 89.49 feet;
South 60(degree) 48' 33" West a distance of 315.89 feet;
South 53(degree) 22' 57" West a distance of 103.15 feet;
South 36(degree) 47' 14" West a distance of 41.79 feet to a point;
thence by the line dividing Lot 4A from Lot 4B and Lot 4D in said Townfair Plan
No. 2, South 60(degree) 18' 41" West a distance of 59.66 feet to a point; thence
by the line dividing Lot 4A and Lot 4D in said Townfair Plan No. 2, South
50(degree) 12' 16" West a distance of 95.33 feet; thence continuing by same
South 37(degree) 01' 31" West a distance of 32.69 feet to a point on the
easterly right of way line of Ben Franklin Road, State Route No. 6422, variable
width; thence by the easterly right of way line of said Ben Franklin Road the
following six (6) courses and distances:

North 24(degree) 25' 00" West a distance of 130.66 feet;
North 55(degree) 22' 50" West a distance of 29.15 feet;
North 24(degree) 25' 00" West a distance of 133.43 feet;
North 27(degree) 35' 22" West a distance of 46.74 feet;
North 21(degree) 51' 18" West a distance of 169.75 feet;
North 24(degree) 25' 00" West a distance of 11.89 feet to a point on the line
dividing Lot 4C in said Townfair Plan No. 2 and Lot 3 in the Townfair Plan No. 1
as recorded in the Office of the Recorder of Deeds of Indiana County,
Pennsylvania in Plan Book Volume 5, Page 216; thence by the line dividing Lot 4C
in said Townfair Plan No. 2 and Lot 3 in said Townfair Plan No. 1, North
60(degree) 41' 56" East a distance of 149.94 feet to a point on the line
dividing Lot 3 and Lot 1 in said Townfair Plan No. 1; thence by the line
dividing Lot 3 and Lot 1 the following eight (8) courses and distances:

North 29(degree) 34' 47" West a distance of 96.95 feet;
North 30(degree) 38' 03" West a distance of 147.34 feet;
North 48(degree) 30' 41" West a distance of 15.35 feet;
(continued)

<PAGE>

(continued)
North 85(degree) 19' 12" West a distance of 16.22 feet;
South 60(degree) 40' 35" West a distance of 30.39 feet;
South 41(degree) 30' 57" West a distance of 34.66 feet;
South 31(degree) 32' 07" West a distance of 34.96 feet;
South 21(degree) 36' 38" West a distance of 13.82 feet to a point on the
easterly right of way line of said Ben Franklin Road; thence by the easterly
right of way line of said Ben Franklin Road the following five (5) courses and
distances: in a northwesterly direction by a curve bearing to the left having a
radius of 766.78 feet through an arc distance of 122.83 feet; South 52(degree)
43' 16" West a distance of 5.00 feet; in a northwesterly direction by a curve
bearing to the left having a radius of 761.78 feet through an arc distance of
38.67 feet to a point of tangency, North 40(degree) 12' 00" West a distance of
174.85 feet to a point of curvature; in a northwesterly direction by a curve
being to the right having a radius of 774.02 feet through an arc distance of
157.74 feet to a point on the line dividing Lot 2 in said Townfair Plan No. 1
from lands now or formerly of Hampton Court Associates; thence by the line
dividing Lot 1 and Lot 2 in Townfair Plan No. 1 from lands now or formerly of
Hampton Court Associates North 55(degree) 00' 00" East a distance of 966.14 feet
to a point on the line dividing Lot 1 in said Townfair Plan No. 1 and lands now
or formerly of L M C Enterprises, Inc.; thence by the line dividing Lot 1 in
said Townfair Plan No. 1 and Lot 4A in said Townfair Plan No. 2 from lands now
or formerly of L M C Enterprises, Inc. South 29(degree) 15' 00" East a distance
of 1,172.00 feet to a point on the line dividing Parcel A-l in said Townfair
Plan No. 2 and lands now or formerly of L M C Enterprises, Inc.; thence by the
line dividing Parcel A-l in said Townfair Plan No. 2 and lands now or formerly
of L M C Enterprises, Inc. North 62(degree) 01' 26" East a distance of 693.17
feet to a point on the line dividing Parcel A-l in said Townfair Plan No. 2 and
lands now or formerly of Frank J. Simone, et ux; thence by the line dividing
Parcel A-l in said Townfair Plan No. 2 and lands now or formerly of Frank J.
Simone, et ux, South 20(degree) 03' 39" East a distance of 112.14 feet to a
point on the line dividing Parcel A-l in said Townfair Plan No. 2 and the Klamar
Plan of Lots as recorded in the Office of the Recorder of Deeds of Indiana
County, Pennsylvania, in Deed Book Volume 491, Page 475; thence by the line
dividing Parcel A-1 in said Townfair Plan No. 2 and said Klamar Plan of Lots
following three (3) courses and distances:

South 68(degree) 13' 21" West a distance of 22.97 feet;
South 21(degree) 20' 39" East a distance of 39.21 feet;
South 32(degree) 07' 21" West a distance of 65.01 feet to a point;
thence by the line dividing Parcel A-l in said Townfair Plan No. 2 from said
Klamar Plan of Lots, the northerly terminus of Hickory Lane, 35.00 feet wide,
Lot 12 in said Klamar Plan of Lots and lands now or formerly of Norman H.
Lewandowski South 71(degree) 56' 21" West a distance of 338.00 feet to a point
on the line dividing Parcel A-l in said Townfair Plan No. 2 and lands now or
formerly of Norman H. Lewandowski; thence by the line dividing Parcel A-l in
said Townfair Plan No. 2 and lands now or formerly of Norman H. Lewandowski
South 12(degree) 03' 39" East a distance of 120.00 feet to a point; thence by
the line dividing Parcel A-l in said Townfair Plan No. 2 from lands now or
formerly of Norman H. Lewandowski and lands now or formerly of Robert W.
McKenney, Jr., et ux, South 03(degree) 16' 54" East a distance of 99.91 feet to
a point on the line dividing Parcel A-l in said Townfair Plan No. 2 and Lot 7 in
said Klamar Plan of Lots; thence by the line dividing Parcel A-l in said
Townfair Plan No. 2 and Lot 7 in said Klamar Plan of Lots South 89(degree) 34'
09" West a distance of 176.99 feet to a point on the Cul-de-sac of the northerly
terminus of said Woodridge Lane; thence by The Cul-de-sac of the northerly
terminus of said Woodridge Lane in a southerly direction by a curve bearing to
the left having a radius of 50.00 feet through an arc distance of 172.10 feet to
a point on the westerly right of way line of said Woodridge Lane; thence by the
westerly right of way line of said Woodridge Lane South 05(degree) 40' 30" West
a distance of 58.32 feet to a point on the line dividing Lot 4A and Lot 4B in
said Townfair Plan No. 2, at the point of BEGINNING.

<PAGE>

(continued)

Containing an area of 29.085 acres.

BEING part of the same premises conveyed to Townfair Center Associates by deed
of Delafield Associates dated February 28, 1995 and recorded in the Office of
the Recorder of Deeds of Indiana County, Pennsylvania in Deed Book Volume 1061,
Page 118, and being part of the same premises conveyed to Townfair Center
Associates by deed of Jeffrey Fried and Linda Fried, husband and wife, dated
February 23, 1995 and recorded in Deed Book Volume 1060, Page 799.

<PAGE>

                                    EXHIBIT B

                             Permitted Encumbrances

1.      Unrecorded leases between the Borrower and

        (a) Lowe's Home Center, Inc., dated January 5, 1995;

        (b) Supervalue Inc., dated as of June 26, 1996, as amended;

        (c) White Cross Stores, Inc. No. 14, dated October 18, 1996;

        (d) Western Auto Supply company d/b/a Parts America, dated July 11,
            1996;

        (e) R & R Optical, Inc. d/b/a Wise Eyes Optical, dated August 6, 1997;

        (f) Hello Corporation of Pennsylvania, dated October 23, 1997;

        (g) JACO, Inc. d/b/a Fantastic Sam's, dated September 18, 1997; and

        (h) Enzo Pirrone and Nancy Pirrone, dated November 14, 1997.

2. Items set forth on Schedule B-l attached hereto

<PAGE>

                                  SCHEDULE B-l

1.   The rights of tenants in possession, as tenants only, under prior
     unrecorded leases with a remaining term of one year or less.

2.   Any taxes for the current or fiscal year of the applicable taxing bodies
     which may be hereafter assessed, not yet due and payable.

3.   Current water and sewer rents, not yet due or payable.

4.   All coal and mining rights and all rights relating thereto.

5.   The following matters shown on the subdivision plans entitled Townfair Plan
     No. 1, recorded in Plan Book Volume 5, Page 216 and Townfair Plan No. 2,
     recorded in Plan Book Volume 6, Page 151 and as depicted on the Survey
     prepared by The Gateway Engineers, Inc. dated January 1998 being drawing
     No. 57,608 (the "Survey"):

     a) Building setback lines of 25 feet along Woodridge Lane and sideline and
        75 feet along Ben Franklin Road.

     b) Easements for sanitary sewers, 20 feet in width.

     c) Easement for ingress, egress and regress.

     d) Existing 15 foot wide gas line easement.

     e) Existing 60 foot wide right of way to Pennsylvania Electric Company.

     f) Notation regarding location of wetlands area.

     g) Existing 15 foot wide sanitary sewer easement (Deed Book Volume 561,
        Page 549).

     h) McCarney Run Creek.

     i) Existing 8 inch PVC sanitary sewer.

     j) Slope easement along Ben Franklin Road SR 6422 and area dedicated for
        road purposes.

     k) Right of wary for gas line across Parcel A-l.

6.   Right of way for electric line from Alan P. Mewha and Priscilla Alden Mewha
     to PA Electric Company dated May 1, 1956 and recorded May 9, 1956 in Deed
     Book Volume 451, Page 129, as noted on Survey.

7.   Oil and gas operating lease made by P. D. Wilson, as Lessor, and T.W.
     Philips Gas & Oil Company as lessee, by instrument dated June 7, 1940, and
     recorded on July 26, 1940, in Indiana County Deed Book 304, Page 308, as
     modified by a certain lease Modification Agreement made by and between
     Joseph L. Klamar and Betty Klamar, his wife, and T.W. Phillips Gas and Oil
     Co., dated February 7, 1982, and recorded February 24, 1982, in Indiana
     County Deed Book 811, Page 685.

<PAGE>

                                  SCHEDULE B-1
                                  (Continued)

8.    Coal and mining rights as conveyed by William Patterson and wife to Adrian
      Iselin by their deed of April 23, 1901, recorded in Deed Book B-71,
      Page 35.

9.    Oil and gas lease and rights of way for pipelines and access road in
      connection therewith as recited in deed from Thomas Smyth, Jr., et al, to
      William A. Vitalie, et ux, dated May 1, 1984 and recorded in Deed Book
      Volume 852, Page 262 and as set forth in the deed from Thomas Smyth, Jr.
      et al, to Jeffrey A. Fried, et ux, dated May 1, 1984 and recorded in Deed
      Book Volume 851, Page 653.

10.   Oil and gas lease from Thomas Smyth, et ux, to The Peoples Natural Gas
      Company dated March 9, 1967 and recorded in Deed Book Volume 562, Page 358
      and pipelines in connection therewith.

11.   Right of way given by Thomas Symth and Martha Symth, his wife, to
      Pennsylvania Electric Company dated August 24, 1954 and recorded in Deed
      Book Volume 438, page 404, as shown on Survey.

12.   Oil and gas lease from Mary Shaffer, et al, to Columbia Natural Gas
      Company dated May 18, 1934 and recorded in Deed Book Volume 272, Page 293.

13.   Pipeline Right of Way Agreement dated August 22, 1995 by and between
      Townfair Center Associates and Kriebel Gas, Inc. recorded September 18,
      1995 in Deed Book Volume 1071, Page 116, as noted on Survey.

14.   Access Covenant by Townfair Center Associates dated August 4, 1995 and
      recorded  September 11, 1995 in Deed Book Volume 1070, Page 774.

15.   Commencement Agreement by and between Townfair Center Associates and
      Lowe's Home Centers, Inc. dated December 29, 1995 and recorded January 19,
      1996 in Deed Book Volume 1078, Page 602.

16.   Declaration of Reciprocal Easements, Covenants and Restrictions made by
      Townfair Center Associates dated September 20, 1995 and recorded in Deed
      Book Volume 1072, page 106.

<PAGE>

                                  SCHEDULE B-1
                                  (Continued)

17.   Easement and Right of Way from Townfair Center Associates and Angerman
      Associates, Inc. dated March 9, 1995 and recorded in Deed Book Volume
      1078, page 927, as shown on Survey.

18.   Right of Way from Townfair Center Associates to Pennsylvania Electric
      Company dated June 7, 1996 and recorded in Deed Book Volume 1086, page,
      208, as shown on Survey.

19.   Sewer line Agreement by Townfair Center Associates as recorded in Deed
      Book Volume 1029, Page 96, as shown on Survey.

20.   Right of way from Harry Shaffer, et al, to Southwest Central Rural
      Corporation dated January 14, 1938 and recorded in Deed Book Volume 297,
      Page 65, as shown on Survey.

21.   Right of way from Townfair Center Associates to The Peoples National Gas
      Company dated July 5, 1995 and recorded in Deed Book Volume 1086, Page
      282, as shown on Survey.

22.   Slope Easements as granted in deeds from Townfair Center Associates to
      the Commonwealth of Pennsylvania (a) dated November 18, 1997 and recorded
      in Deed Book Volume 1118, Page 366 and (b) dated November 20, 1997 and
      recorded in Deed Book Volume 1118, Page 372, as shown on Survey.

23.   Right of way from Townfair Center Associates to Pennsylvania Electric
      Company dated November 1, 1996 and recorded in Deed Book Volume 1099, Page
      847, as shown on Survey.

<PAGE>

        IN WITNESS WHEREOF, the Borrower has executed this Security Instrument
under seal as of the above written date.

                                   BORROWER:

                                   TOWNFAIR CENTER ASSOCIATES, a Pennsylvania
                                   general partnership

                                   By: P.J. Dick Incorporated, a Pennsylvania
                                       corporation, a General Partner

                                   By: /s/ Stephen M. Clark               (SEAL)
                                       -----------------------------------------
                                   Name:  STEPHEN M. CLARK
                                   Title: EXEC. V. P.

                                   By: Michael Joseph Limited Partnership #2,
                                       a Pennsylvania limited partnership, a
                                       General Partner

                                   By: Michael Joseph Development Corporation,
                                       a Pennsylvania corporation, its General
                                       Partner

                                   By: /s/ Guy J. DiRienzo (SEAL)
                                       -----------------------------------------
                                   Name: GUY J. DIRIENZO
                                       -----------------------------------------
                                   Title: V.P.
                                       -----------------------------------------

I hereby certify that the precise address of the within Lender is 4550
Montgomery Avenue, Suite 1150, Bethesda, Maryland 20814.

                                   By: /s/ [graphic of signature omitted]
                                       -----------------------------------------
                                                 On behalf of Lender

                                 ACKNOWLEDGMENT

COMMONWEALTH OF PENNSYLVANIA ALLEGHENY County ss:

       On this 13th day of February, 1998, before me, the undersigned officer,
personally appeared STEPHEN M.CLARK, who acknowledged himself to be the
EXECUTIVE VICE PRESIDENT of P.J. Dick Incorporated, the corporation named in the
foregoing instrument as a General Partner of Townfair Center Associates, a
General Partnership, and that he as such EXECUTIVE VICE PRESIDENT of the General
Partner, being authorized to do so, executed the foregoing instrument for the
purposes therein contained in the name of such General Partnership by himself as
EXECUTIVE VICE PRESIDENT of the General Partner, on behalf of said General
Partnership.

       IN WITNESS WHEREOF, I hereunto set my hand and official seal.

                                        /s/ Melanie A. Uziel
                                        ----------------------------------------
                                        Notary Public
                                        ----------------------------------------
                                                    Title Of Officer

                                                        Notarial Seal
                                               Melanie A. Uziel, Notary Public
                                                 Pittsburgh Allegheny County
                                             My Commission Expires May 11, 2000
                                             Member, Pennsylvania Association of
                                                          Notaries

<PAGE>

COMMONWEALTH OF PENNSYLVANIA ALLEGHENY County ss:

       On this 13th, day of February, 1998, before me, the undersigned officer,
personally appeared GUY J. DIRIENZO, who acknowledged himself to be the VICE
PRESIDENT of Michael Joseph Development Corporation, the corporation named in
the foregoing instrument as General Partner of Michael Joseph Limited
Partnership #2, the limited partnership named in the foregoing instrument as a
General Partner of Townfair Center Associates, a General Partnership, and that
he as such VICE PRESIDENT of the General Partner of the General Partner, being
authorized to do so, executed the foregoing instrument for the purposes therein
contained in the name of such General Partnership by himself as VICE PRESIDENT
of the General Partner of the General Partner, on behalf of said General
Partnership.

       IN WITNESS WHEREOF, I hereunto set my hand and official seal.

                                        /s/ Melanie A. Uziel
                                        ----------------------------------------
                                        Notary Public
                                        ----------------------------------------
                                                    Title Of Officer

                                                        Notarial Seal
                                               Melanie A. Uziel, Notary Public
                                                 Pittsburgh. Allegheny County
                                             My Commission Expires May 11, 2000
                                             Member, Pennsylvania Association of
                                                          Notaries

COMMONWEALTH OF PENNSYLVANIA
     INDIANA COUNTY
RECORDED in the office for the recording of Deeds, etc. in and for said county,
in Mortgage Book ____________ Volume o page 247 Given under my hand and seal of
this office, this 17th day of February 1998 o Recorder

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