Document:

NOTE

 

FOR VALUE RECEIVED,
the undersigned (“Borrower”), hereby promises to pay to the order of TD Bank, N.A. or registered assigns
(“Lender”), in accordance with the provisions of the Agreement (as hereinafter defined), the principal
amount of each Loan from time to time made by the Lender to Borrower under that certain Amended and Restated Term Loan Agreement,
dated as of July 2, 2012 (as amended, restated, extended, supplemented, or otherwise modified in writing from time to time, the
“Agreement;” the terms defined therein being used herein as therein defined), among AMERICAN REALTY CAPITAL
OPERATING PARTNERSHIP, L.P., a Delaware limited partnership (“Borrower”), AMERICAN REALTY CAPITAL TRUST,
INC., a Maryland corporation and the sole member of the sole general partner of Borrower (“Parent”),
the Lenders from time to time party thereto, and Wells Fargo Bank, National Association, as Administrative Agent.

 

Borrower promises to
pay interest on the unpaid principal amount of each Loan from the date of such Loan until such principal amount is paid in full,
at such interest rates and at such times as provided in the Agreement. All payments of principal and interest shall be made to
Administrative Agent for the account of Lender in Dollars in immediately available funds at Administrative Agent’s Office.
If any amount is not paid in full when due hereunder, such unpaid amount shall bear interest, to be paid upon demand, from the
due date thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set forth
in the Agreement.

 

This Note is one of
the Notes referred to in the Agreement, is entitled to the benefits thereof and may be prepaid in whole or in part subject to the
terms and conditions provided therein. This Note is also entitled to the benefits of the Guaranties and is secured by the Collateral.
Upon the occurrence and continuation of one or more of the Events of Default specified in the Agreement, all amounts then remaining
unpaid on this Note shall become, or may be declared to be, immediately due and payable all as provided in the Agreement. Loans
made by Lender shall be evidenced by one or more loan accounts or records maintained by Lender in the ordinary course of business.
Lender may also attach schedules to this Note and endorse thereon the date, amount and maturity of its Loans and payments with
respect thereto.

 

Borrower, for itself,
its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest, demand, dishonor and
non-payment of this Note.

 

    	 

    	 

    

  

THIS NOTE SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 

	 	BORROWER:
	 	 
	 	AMERICAN REALTY CAPITAL OPERATING 

PARTNERSHIP, L.P., a Delaware limited partnership
	 	 	 
	 	By:	/s/ Jesse C. Galloway
	 	 	Name: Jesse C. Galloway
	 	 	Title:  Authorized Signatory

 

    	2

    	 

    

 

LOANS AND
PAYMENTS WITH RESPECT THERETO 

 

	Date	 	
        Type of

        Loan Made
	 	
        Amount of

        Loan Made
	 	
        End of

        Interest

        Period
	 	
        Amount of

        Principal or

        Interest

        Paid This

        Date
	 	
        Outstanding

        Principal

        Balance

        This Date
	 	
        Notation

        Made By

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    	3NOTE

 

FOR VALUE RECEIVED,
the undersigned (“Borrower”), hereby promises to pay to the order of Branch Banking & Trust Company
or registered assigns (“Lender”), in accordance with the provisions of the Agreement (as hereinafter
defined), the principal amount of each Loan from time to time made by the Lender to Borrower under that certain Amended and Restated
Term Loan Agreement, dated as of July 2, 2012 (as amended, restated, extended, supplemented, or otherwise modified in writing from
time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among
AMERICAN REALTY CAPITAL OPERATING PARTNERSHIP, L.P., a Delaware limited partnership (“Borrower”), AMERICAN
REALTY CAPITAL TRUST, INC., a Maryland corporation and the sole member of the sole general partner of Borrower (“Parent”),
the Lenders from time to time party thereto, and Wells Fargo Bank, National Association, as Administrative Agent.

 

Borrower promises to
pay interest on the unpaid principal amount of each Loan from the date of such Loan until such principal amount is paid in full,
at such interest rates and at such times as provided in the Agreement. All payments of principal and interest shall be made to
Administrative Agent for the account of Lender in Dollars in immediately available funds at Administrative Agent’s Office.
If any amount is not paid in full when due hereunder, such unpaid amount shall bear interest, to be paid upon demand, from the
due date thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set forth
in the Agreement.

 

This Note is one of
the Notes referred to in the Agreement, is entitled to the benefits thereof and may be prepaid in whole or in part subject to the
terms and conditions provided therein. This Note is also entitled to the benefits of the Guaranties and is secured by the Collateral.
Upon the occurrence and continuation of one or more of the Events of Default specified in the Agreement, all amounts then remaining
unpaid on this Note shall become, or may be declared to be, immediately due and payable all as provided in the Agreement. Loans
made by Lender shall be evidenced by one or more loan accounts or records maintained by Lender in the ordinary course of business.
Lender may also attach schedules to this Note and endorse thereon the date, amount and maturity of its Loans and payments with
respect thereto.

 

Borrower, for itself,
its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest, demand, dishonor and
non-payment of this Note.

 

    	 

    	 

    

 

THIS NOTE SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 

	 	BORROWER:
	 	 
	 	AMERICAN REALTY CAPITAL OPERATING 

PARTNERSHIP, L.P., a Delaware limited partnership
	 	 	 
	 	By:	/s/ Jesse C. Galloway
	 	 	Name: Jesse C. Galloway
	 	 	Title:  Authorized Signatory

 

    	2

    	 

    

 

LOANS AND
PAYMENTS WITH RESPECT THERETO 

 

	Date	 	
        Type of

        Loan Made
	 	
        Amount of

        Loan Made
	 	
        End of

        Interest

        Period
	 	
        Amount of

        Principal or

        Interest

        Paid This

        Date
	 	
        Outstanding

        Principal

        Balance

        This Date
	 	
        Notation

        Made By

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    	3EXECUTION COPY

 

AMENDED AND RESTATED PARENT GUARANTY
AGREEMENT 

 

THIS AMENDED AND RESTATED
PARENT GUARANTY AGREEMENT (this “Guaranty”) is executed as of July 2, 2012, by AMERICAN REALTY CAPITAL
TRUST, INC., a Maryland corporation, (“Guarantor”), for the benefit of the
Credit Parties (defined below).

 

RECITALS:

 

A.           American
Realty Capital Operating Partnership, L.P., a Delaware limited partnership (“Borrower”), is party to
that certain Term Loan Agreement, dated as of April 16, 2012 (the “Existing Term Loan Agreement”), among
Borrower, Guarantor, each lender from time to time party thereto (the “Existing Lenders”),
and Wells Fargo Bank, National Association, as Administrative Agent for the benefit of the Existing Lenders (“Administrative
Agent”). Capitalized terms used herein shall, unless otherwise indicated, have the respective meanings set
forth in the Term Loan Agreement.

 

B.           In
connection with the Existing Term Loan Agreement, Guarantor entered into that certain Parent Guaranty Agreement, dated as of April
16, 2012 (the “Existing Guaranty”), in favor of Administrative Agent, for the benefit of the Existing
Lenders, to guaranty the repayment of the Guaranteed Obligations (as defined in the Existing Guaranty) under the Existing Term
Loan Agreement.

 

C.           Borrower,
Guarantor, the Existing Lenders and Administrative Agent have agreed to amend and restate the Existing Term Loan Agreement pursuant
to that certain Amended and Restated Term Loan Agreement dated as of the date hereof (as same may be further amended, restated,
supplemented or otherwise modified from time to time, the “Term Loan Agreement”) among Borrower, Guarantor,
the lenders from time to time party thereto (including any Existing Lenders, the “Lenders”) and Administrative
Agent (Administrative Agent and the Lenders, together with their respective successors and assigns, are each a “Credit
Party,” and collectively the “Credit Parties”), which Term Loan Agreement, among
other things, re-evidences the Borrower’s outstanding obligations under the Existing Term Loan Agreement and provides, subject
to the terms and conditions thereof, for extensions of credit to be made by the Lenders to or for the benefit of Borrower.

 

D.           The
Guarantor wishes to affirm its obligations under the terms of the Existing Guaranty and wishes to amend and restate the terms of
the Existing Guaranty.

 

E.           Guarantor
is the general partner of, and holds Equity Interests in, Borrower and will benefit from the Credit Parties’ extension of
credit to Borrower.

 

F.           This
Guaranty is integral to the transactions contemplated by the Loan Documents, and the execution and delivery hereof is a condition
precedent to the Credit Parties’ obligations to extend credit to Borrower under the Loan Documents.

 

NOW, THEREFORE, as
an inducement to the Credit Parties to enter into the Term Loan Agreement and to make Loans to Borrower thereunder, and to extend
such credit to Borrower as the Credit Parties may from time to time agree to extend, and for other good and valuable consideration,
the receipt and legal sufficiency of which are hereby acknowledged, Guarantor hereby guarantees payment of the Guaranteed Obligations
(hereinafter defined) and hereby agrees as follows:

 

    	 

    	 

    

 

Section 1.          Nature
of Guaranty. Guarantor hereby absolutely and unconditionally guarantees, as a guarantee of payment and not merely as
a guarantee of collection, prompt payment when due, whether at stated maturity, upon acceleration or otherwise, and at all times
thereafter, of any and all existing and future Obligations including, without limitation, all indebtedness and liabilities of every
kind, nature and character, direct or indirect, absolute or contingent, liquidated or unliquidated, voluntary or involuntary, of
Borrower to the Credit Parties arising under the Term Loan Agreement and the other Loan Documents (including, without limitation,
all renewals, extensions, modifications, amendments, and restatements thereof and all costs, attorneys’ fees and expenses
incurred by any Credit Party in connection with the collection or enforcement thereof) including, without limitation, any and all
environmental indemnifications contained in the Loan Documents (collectively, the “Guaranteed Obligations”).
Administrative Agent’s books and records showing the amount of the Guaranteed Obligations shall be admissible in evidence
in any action or proceeding, and shall be binding upon Guarantor and conclusive for the purpose of establishing the amount of the
Guaranteed Obligations. This Guaranty shall not be affected by the genuineness, validity, regularity, or enforceability of the
Guaranteed Obligations or any instrument or agreement evidencing any Guaranteed Obligations, or by the existence, validity, enforceability,
perfection, or extent of any collateral therefor, or by any fact or circumstance relating to the Guaranteed Obligations which might
otherwise constitute a defense to the obligations of Guarantor under this Guaranty.

 

Section 2.          No
Setoff or Deductions; Taxes. Guarantor represents and warrants that it is incorporated and resident in the United
States of America. All payments by Guarantor hereunder shall be paid in full, without setoff or counterclaim or any deduction or
withholding whatsoever, including, without limitation, for any and all present and future taxes. If Guarantor must make a payment
under this Guaranty, then Guarantor represents and warrants that it will make the payment from its offices located in the United
States of America to Administrative Agent, for the benefit of the Credit Parties, so that no withholding tax is imposed on such
payment. Notwithstanding the foregoing, if Guarantor makes a payment under this Guaranty to which withholding tax applies, or any
taxes (other than Excluded Taxes) are at any time imposed on any payments under or in respect of this Guaranty including, but not
limited to, payments made pursuant to this Section 2, then Guarantor shall pay all such taxes to the relevant authority
in accordance with applicable law such that each Credit Party, as applicable, receives the sum it would have received had no such
deduction or withholding been made and shall also pay to Administrative Agent, for the benefit of the
Credit Parties, on demand, all additional amounts which Administrative Agent specifies
as necessary to preserve the after-tax yield the Credit Parties would have received if such taxes
had not been imposed. Guarantor shall promptly provide Administrative Agent with an original receipt or certified copy issued by
the relevant authority evidencing the payment of any such amount required to be deducted or withheld.

 

Section 3.          No
Termination. This Guaranty is a continuing and irrevocable guaranty of all Guaranteed Obligations now or hereafter existing
and shall remain in full force and effect until all Guaranteed Obligations and any other amounts payable under this Guaranty are
indefeasibly paid and performed in full and any commitments of the Credit Parties or facilities provided by the Credit
Parties with respect to the Guaranteed Obligations are terminated. All payments under this Guaranty shall be made at Administrative
Agent’s Office in Dollars.

 

Section 4.          Waiver
of Notices. Guarantor waives notice of the acceptance of this Guaranty and of the extension or continuation of the Guaranteed
Obligations or any part thereof. Guarantor further waives presentment, protest, notice, dishonor or default, demand for payment,
notice of intent to accelerate, notice of acceleration, and any other notices to which Guarantor might otherwise be entitled.

 

Section 5.          NO
SUBROGATION. Guarantor shall not exercise any right of subrogation, contribution, or similar rights with respect to any payments
it makes under this Guaranty until all of the Guaranteed Obligations and any amounts payable under this Guaranty are indefeasibly
paid and performed in full and any commitments of the Credit Parties or facilities provided by
the Credit Parties with respect to the Guaranteed Obligations are terminated. If any amounts
are paid to Guarantor in violation of the foregoing limitation, then such amounts shall be held in trust for the benefit of the
Credit Parties and shall forthwith be paid to Administrative Agent, for the benefit of the Credit
Parties, to reduce the amount of the Guaranteed Obligations, whether matured or unmatured.

 

    	Page 2

    	 

    

 

Section 6.          Waiver
of Suretyship Defenses. Guarantor agrees that the Credit Parties may, at any time and from time to time, and without
notice to Guarantor, make any agreement with Borrower or with any other person or entity liable on any of the Guaranteed Obligations
or providing collateral as security for the Guaranteed Obligations, for the extension, renewal, payment, compromise, discharge,
or release of the Guaranteed Obligations or any collateral (in whole or in part), or for any modification or amendment of the terms
thereof or of any instrument or agreement evidencing the Guaranteed Obligations or the provision of collateral, all without in
any way impairing, releasing, discharging, or otherwise affecting the obligations of Guarantor under this Guaranty. Guarantor waives
any defense arising by reason of any disability or other defense of Borrower or any other guarantor, or the cessation from any
cause whatsoever of the liability of Borrower, or any claim that Guarantor’s obligations exceed or are more burdensome than
those of Borrower and waives the benefit of any statute of limitations affecting the liability of Guarantor hereunder. Guarantor
waives any right to enforce any remedy which Guarantor now has or may hereafter have against
Borrower and waives any benefit of and any right to participate in any security now or hereafter held by Administrative Agent for
the benefit of the Credit Parties. Further, Guarantor consents to the taking of, or failure to take, any action which might in
any manner or to any extent vary the risks of Guarantor under this Guaranty or which, but for this provision, might operate as
a discharge of Guarantor.

 

Section 7.          Exhaustion
of Other Remedies Not Required. The obligations of Guarantor hereunder are those of primary obligor, and not merely
as surety, and are independent of the Guaranteed Obligations. Guarantor waives diligence by any of the
Credit Parties and action on delinquency in respect of the Guaranteed Obligations or any part thereof, including, without
limitation any provisions of law requiring any Credit Party to exhaust any right or remedy or
to take any action against Borrower, any other guarantor, or any other person, entity, or property before enforcing this Guaranty
against Guarantor.

 

Section 8.          Reinstatement.
Notwithstanding anything in this Guaranty to the contrary, this Guaranty shall continue to be effective or be reinstated, as the
case may be, if at any time any payment of any portion of the Guaranteed Obligations (including pursuant to any settlement entered
into by a Credit Party in its discretion) is revoked, terminated, rescinded, or reduced or must otherwise be restored or returned
upon the insolvency, bankruptcy, or reorganization of Borrower or any other person or entity or otherwise, as if such payment had
not been made and whether or not Administrative Agent is in possession of or has released this
Guaranty and regardless of any prior revocation, rescission, termination or reduction.

 

Section 9.          Subordination.
Guarantor hereby expressly subordinates the payment of all obligations and indebtedness of Borrower owing to Guarantor, whether
now existing or hereafter arising and whether those obligations are (a) direct, indirect, fixed,
contingent, liquidated, unliquidated, joint, several, or joint and several, (b) due or to become due to Guarantor, (c) held
by or are to be held by Guarantor, (d) created directly or acquired by assignment or otherwise, or (e) evidenced in writing
(collectively, the “Subordinated Debt”) to the indefeasible payment in full of all Guaranteed
Obligations. Guarantor agrees not to accept any payment in respect of any such Subordinated Debt from
Borrower if a Default exists. If Guarantor receives any payment in respect of any Subordinated Debt in violation of the foregoing,
then Guarantor shall hold that payment in trust for the Credit Parties and promptly turn it over to Administrative Agent,
for the benefit of the Credit Parties, in the form received (with any necessary endorsements), to be applied in accordance
with the Term Loan Agreement, but without reducing or affecting in any manner the liability of Guarantor under this Guaranty.

 

    	Page 3

    	 

    

 

Section 10.          Stay
of Acceleration. In the event that acceleration of the time for payment of any of the Guaranteed Obligations is stayed,
upon the insolvency, bankruptcy, or reorganization of Borrower or any other person or entity, or otherwise, all such amounts shall
nonetheless be payable by Guarantor immediately upon demand by Administrative Agent.

 

Section 11.          INDEMNIFICATION
AND Expenses.

 

(a)          Guarantor
agrees to indemnify each Credit Party from and against any and all claims, losses, and liabilities in any way relating to, growing
out of, or resulting from this Guaranty and the transactions contemplated hereby (including, without limitation, enforcement of
this Guaranty), except to the extent such claims, losses, or liabilities result from such Credit Party’s gross negligence
or willful misconduct as finally determined by a court of competent jurisdiction.

 

(b)          Guarantor
shall indemnify each Credit Party and each Related Party of any of the Credit Parties (each such Person being called an “Indemnitee”)
against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities, and related expenses (including,
without limitation, the fees, charges, and disbursements of any counsel for any Indemnitee), and shall indemnify and hold harmless
each Indemnitee from all fees and time charges and disbursements for attorneys who may be employees of any Indemnitee, incurred
by any Indemnitee or asserted against any Indemnitee by any third party or any Loan Party arising out of, in connection with, or
as a result of (i) the execution or delivery or enforcement of this Guaranty or any agreement or instrument contemplated hereby,
the performance by the parties hereto of their respective obligations hereunder, the consummation of the transactions contemplated
hereby, or, in the case of Administrative Agent and its Related Parties only, the administration of this Guaranty; or (ii) any
actual or prospective claim, litigation, investigation, or proceeding relating to any of the foregoing, whether based on contract,
tort, or any other theory, whether brought by a third party or by any Loan Party, and regardless of whether any Indemnitee is a
party thereto, provided that such indemnity shall
not, as to any Indemnitee and its Related Parties, be available to the extent that such losses, claims, damages, liabilities, or
related expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from
the gross negligence or willful misconduct of such Indemnitee or its Related Parties.

 

(c)          Guarantor
shall pay to Administrative Agent upon demand the amount of any and all costs and expenses, including the reasonable fees and expenses
of its counsel and of any experts and agents, that Administrative Agent may incur in connection with the administration of this
Guaranty, including, without limitation, any such costs and expenses incurred in the preservation, protection, or enforcement of
any rights of any Credit Party in any case commenced by or against Guarantor under the Bankruptcy Code (Title 11, United States
Code) or any similar or successor statute. The obligations of Guarantor under the preceding sentence shall survive termination
of this Guaranty.

 

Section 12.         AMENDMENTS.
No amendment, modification, termination, or waiver of any provision of this Guaranty, and no consent to any departure by Guarantor
from the terms and conditions hereof, shall in any event be effective unless the same shall be in writing and signed by Administrative
Agent and Guarantor. Any such waiver or consent shall be effective only in the specific instance and for the specific purpose for
which it was given.

 

Section
13.          Notices; ELECTRONIC
DELIVERY OF CERTAIN INFORMATION. 

 

(a)          Any
notice or other communication herein required or permitted to be given shall be in writing and shall be in accordance with the
provisions of Section 11.02 of the Term Loan Agreement. All notices or other communications hereunder shall be made to the
applicable address, as follows: (i) if addressed to Administrative Agent, then to the address specified for Administrative Agent
set forth on Schedule 11.02 of the Term Loan Agreement; and (ii) if addressed to Guarantor, then to the address as follows:
c/o American Realty Capital, 405 Park Avenue, 15th Floor, New York, New York 10022, Attention: William
M. Kahane, Facsimile No.: (646) 861-7812, with a copy to c/o American Realty Capital, 405 Park Avenue, 15th Floor, New York, New
York 10022, Attention: Jesse C. Galloway, Facsimile No.: (646) 861-7804. Any party to this Guaranty
may change its address, telecopier or telephone number for notices and other communications in accordance with the terms and provisions
set forth in Section 11.02(d) of the Term Loan Agreement.

 

    	Page 4

    	 

    

 

(b)          ELECTRONIC
DELIVERY OF CERTAIN INFORMATION. Documents required to be delivered pursuant to this Guaranty shall be delivered by electronic
communication and delivery, including, the Internet, e-mail or intranet websites to which each of the Credit Parties have access
(including a commercial, third-party website such as www.sec.gov <http://www.sec.gov> or a website sponsored or hosted by
Administrative Agent or Borrower) provided that the foregoing shall not apply to any Credit Party that has notified Administrative
Agent and Borrower that it cannot or does not want to receive electronic communications.  Administrative Agent or Borrower
may, in its discretion, agree to accept notices and other communications to it hereunder by electronic delivery pursuant to procedures
approved by it for all or particular notices or communications, all in accordance with the terms of the Term Loan Agreement. 
Documents or notices delivered electronically shall be deemed to have been delivered twenty-four (24) hours after the date and
time on which Administrative Agent or Borrower, on behalf of Guarantor, posts such documents or the documents become available
on a commercial website and Administrative Agent or Borrower, on behalf of Guarantor, notifies each Lender of said posting and
provides a link thereto provided if such notice or other communication is not sent or posted during the normal business hours of
the recipient, said posting date and time shall be deemed to have commenced as of  9:00 a.m. Eastern time on the opening of
business on the next business day for the recipient.  Notwithstanding anything contained herein, in every instance Guarantor
shall deliver paper copies of any documents to any Credit Party that requests such paper copies until a written request to cease
delivering paper copies is given by such Credit Party.  Administrative Agent shall have no obligation to request the delivery
of or to maintain paper copies of the documents delivered electronically, and in any event shall have no responsibility to monitor
compliance by Guarantor with any such request for delivery. 

 

Section 14.         No
Waiver; Enforceability. No failure by any Credit Party to exercise, and no delay in exercising, any right, remedy or
power hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy or power hereunder
preclude any other or further exercise thereof or the exercise of any other right. The remedies herein provided are cumulative
and not exclusive of any remedies provided by law or in equity. The unenforceability or invalidity of any provision of this Guaranty
shall not affect the enforceability or validity of any other provision herein.

 

Section 15.         Assignment.
This Guaranty shall: (a) bind Guarantor and its successors and assigns, provided that Guarantor may not assign its rights
or obligations under this Guaranty without the prior written consent of Administrative Agent (and any attempted assignment without
such consent shall be void); and (b) inure to the benefit of each of the Credit Parties and their respective successors and assigns
and the Credit Parties may, without notice to Guarantor and without affecting Guarantor’s obligations hereunder, assign or
sell participations in the Guaranteed Obligations and this Guaranty, in whole or in part. Guarantor agrees that the Credit Parties
may disclose to any prospective purchaser and any purchaser of all or part of the Guaranteed Obligations any and all information
in the Credit Parties’ possession concerning Guarantor, this Guaranty, and any security for this Guaranty to the extent permitted
under, and in compliance with, the terms of the Term Loan Agreement.

 

Section 16.         Condition
of Borrower. Guarantor acknowledges and agrees that it has the sole responsibility for, and has adequate means of, obtaining
from Borrower such information concerning the financial condition, business, and operations of Borrower as Guarantor requires,
and that no Credit Party shall have any duty, and Guarantor is not relying on any Credit Party at any time, to disclose to Guarantor
any information relating to the business, operations, or financial condition of Borrower.

 

    	Page 5

    	 

    

 

Section 17.         RIGHTS
OF SETOFF. If and to the extent any payment is not made when due hereunder, then Administrative Agent and each other
Credit Party (with the prior consent of Administrative Agent) may setoff and charge from time to time any amount so due against
any or all of Guarantor’s accounts or deposits with Administrative Agent or such other Credit Party.

 

Section 18.         Other
Guarantees. Unless otherwise agreed by Administrative Agent, the applicable Credit Party and Guarantor in writing, this
Guaranty is not intended to supersede or otherwise affect any other guaranty now or hereafter given by Guarantor for the benefit
of the Credit Parties or any term or provision thereof.

 

Section 19.         GOVERNING
LAW; JURISDICTION; ETC.

 

(a)          GOVERNING
LAW.         THIS GUARANTY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,
THE LAW OF THE STATE OF NEW YORK.

 

(b)          SUBMISSION
TO JURISDICTION. GUARANTOR IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION
OF THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT
OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS GUARANTY
OR ANY OTHER LOAN DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY
AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR,
TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT
IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY
OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS GUARANTY OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT ANY CREDIT PARTY
MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS GUARANTY OR ANY OTHER LOAN DOCUMENT AGAINST GUARANTOR OR
ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION.

 

(c)          WAIVER
OF VENUE. GUARANTOR IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION
THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS GUARANTY
OR ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN SECTION 19(b). EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION
OR PROCEEDING IN ANY SUCH COURT.

 

(d)          SERVICE
OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 11.02
OF THE TERM LOAN AGREEMENT. NOTHING IN THIS GUARANTY WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER
PERMITTED BY APPLICABLE LAW.

 

    	Page 6

    	 

    

 

(e)          Waiver
of Jury Trial. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT
IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS GUARANTY OR ANY
OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH
PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE,
THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER; AND (B) ACKNOWLEDGES THAT
IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS GUARANTY AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS,
THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 19.

 

Section 20.         Counterparts.
This Guaranty may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall
constitute an original, but all of which when taken together shall constitute a single contract.

 

Section 21.         AMENDMENT
AND RESTATEMENT; NO NOVATION OF EXISTING GUARANTY. This Guaranty amends and restates in its entirety the Existing Guaranty
and this Guaranty is in no way intended to constitute a novation of any obligations owed by Guarantor to the Credit Parties (as
defined in the Existing Guaranty) under the Existing Guaranty, all of which are hereby reaffirmed, ratified and confirmed.

 

Section
22.         GENERAL AFFIRMATION OF LOAN DOCUMENTS.
Guarantor hereby (a) acknowledges and consents to the execution and delivery of the Term Loan Agreement by the parties
thereto and the execution and delivery of each of the instruments, documents and agreements required in connection therewith, (b)
agrees that the Term Loan Agreement and the transactions contemplated thereby shall not limit or diminish its obligations arising
under or pursuant to the Loan Documents (as defined in the Existing Term Loan Agreement) to which it is a party, (c) reaffirms
all of its obligations under the Loan Documents (as defined in the Existing Term Loan Agreement) to which it is a party, and (d)
acknowledges and agrees that each Loan Document (as defined in the Existing Term Loan Agreement)
executed by it remains in full force and effect and is hereby reaffirmed, ratified and confirmed.

 

Section 23.         FINAL
AGREEMENT. This Guaranty and the other Loan Documents constitute the entire contract
among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral
or written, relating to the subject matter hereof. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

 

[Remainder of Page Intentionally Left
Blank;

Signature Pages Follow]

 

    	Page 7

    	 

    

 

IN WITNESS WHEREOF,
Guarantor and Administrative Agent have caused this Guaranty to be duly executed and delivered as of the date first written above.

 

	 	PARENT:
	 	 
	 	AMERICAN REALTY CAPITAL TRUST, INC.,
	 	a Maryland corporation
	 	 	 
	 	By:	/s/ Jesse C. Galloway
	 	 	Name: Jesse C. Galloway
	 	 	Title:  Authorized Signatory

 

Signature Page to

Amended and Restated Parent Guaranty Agreement

 

    	 

    	 

    

 

	 	ADMINISTRATIVE AGENT:
	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION
	 	 	 	 
	 	 	By:	/s/ D. Bryan Gregory
	 	 	Name: D. Bryan Gregory
	 	 	Title:  Director

 

Signature Page to

Amended and Restated Parent Guaranty Agreement

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00205-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00205-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00205-of-00352.parquet"}]]