Document:

EXHIBIT 10.107

                                 PROMISSORY NOTE
                                 ---------------

$50,000,000.00                                                    Columbus, Ohio
                                                                  March 14, 2006

     FOR VALUE RECEIVED, the undersigned Maker promises to pay to the order of
CHARTER ONE BANK, N.A. (the "Bank"), at its office at 1215 Superior Avenue,
Cleveland, Ohio 44114, or at such other place as the holder hereof may from time
to time designate in writing, the principal sum of FIFTY MILLION DOLLARS
($50,000,000.00) or so much thereof as may be advanced from time to time,
together with interest on the unpaid principal balance thereon from time to time
outstanding, at the rates and at the times hereinafter provided. The proceeds of
the loan evidenced hereby may be advanced, repaid and readvanced in partial
amounts during the term of this Note and prior to the Maturity Date pursuant to
the terms and conditions of the Loan Agreement of even date herewith by and
between Maker and Bank (the "Loan Agreement"). Each such advance shall be made
to the undersigned upon receipt by the Bank of the undersigned's application
therefore and disbursement instructions, which shall be in such form as the Bank
shall from time to time prescribe. The Bank shall be entitled to rely on any
oral or telephonic communication requesting an advance and/or providing
disbursement instructions hereunder, which shall be received by it in good faith
from anyone reasonably believed by the Bank to be the undersigned, or the
undersigned's authorized agent. The undersigned agree that all advances made by
the Bank will be evidenced by entries made by the Bank into its electronic data
processing system and/or internal memoranda maintained by the Bank. The
undersigned further agree that the sum or sums shown on the most recent printout
from the Bank's electronic data processing system and/or on such memoranda shall
be rebuttably presumptive evidence of the amount of the Principal Sum and of the
amount of any accrued interest.

1. Definitions. As used herein, the following terms shall have the following
definitions:

     Applicable Margin: The percentage set forth below corresponding to the loan
to value ratio in effect at such time:

-----------------------------------------------------------------------------
   Level              Loan to Value Ratio            Applicable Margin for
                                                       LIBOR Rate Loans
-----------------------------------------------------------------------------
     1       < or = 0.50 to 1.00                             1.20%
-----------------------------------------------------------------------------
     2       > 0.50 to 1.00 and < or = 0.60 to 1.00          1.35%
-----------------------------------------------------------------------------
     3       > 0.60 to 1.00                                  1.50%
-----------------------------------------------------------------------------

The Applicable Margin shall be determined by the Bank from time to time, based
on the loan to value ratio as determined by Bank in its sole discretion.

<PAGE>

     Business Day:

     (a)  any day which is neither a Saturday or Sunday nor a legal holiday on
          which commercial banks are authorized or required to be closed in
          Cleveland, Ohio;

     (b)  when such term is used to describe a day on which a payment or
          prepayment is to be made in respect of a LIBOR Rate Loan, any day
          which is: (i) neither a Saturday or Sunday nor a legal holiday on
          which commercial banks are authorized or required to be closed in New
          York City; and (ii) a London Banking Day; and

     (c)  when such term is used to describe a day on which an interest rate
          determination is to be made in respect of a LIBOR Rate Loan, any day
          which is a London Banking Day.

     Hedging Contracts: Interest rate swap agreements, interest rate cap
agreements and interest rate collar agreements, or any other agreements or
arrangements entered into between the Maker and the Bank and designed to protect
the Maker against fluctuations in interest rates or currency exchange rates.

     Hedging Obligations: With respect to the Maker, all liabilities of the
Maker to the Bank under Hedging Contracts.

     Interest Payment Date: Relative to any LIBOR Rate Loan, each Business Day
which is the 14th day of each month provided that if such day is not a Business
Day, then, the first Business Day following the 14th day of each month, and the
last day of such Interest Period. Relative to any Prime Rate Loan, each Business
Day which is the 14th day of each month provided that if such day is not a
Business Day, then, the first Business Day following the 14th day of each month.

     Interest Period:

     relative to any LIBOR Rate Loans

     (i)  initially, the period beginning on (and including) the date on which
          such LIBOR Rate Loan is made or continued as, or converted into, a
          LIBOR Rate Loan pursuant to Section 2 or 3 and ending on (but
          excluding) the day which numerically corresponds to such date one,
          two, three, or six months thereafter (or, if such month has no
          numerically corresponding day, on the last Business Day of such
          month), in each case as the Maker may select in its notice pursuant to
          Section 2 or 3; and

     (ii) thereafter, each period commencing on the last day of the next
          preceding Interest Period applicable to such LIBOR Rate Loan and
          ending one, two, three, or six months thereafter, as selected by the
          Maker by irrevocable notice to the Bank not less than two Business
          Days prior to the last day of the then current Interest Period with
          respect thereto;

     provided, however, that

                                      -2-
<PAGE>

     (a) the Maker shall not be permitted to select Interest Periods to be in
     effect at any one time which have expiration dates occurring on more than
     three (3) different dates;
     (b) Interest Periods commencing on the same date for LIBOR Rate Loans
     comprising part of the same advance under this Note shall be of the same
     duration;
     (c) Interest Periods for LIBOR Rate Loans in connection with which Maker
     has or may incur Hedging Obligations with the Bank shall be of the same
     duration as the relevant periods set under the applicable Hedging
     Contracts;
     (d) if such Interest Period would otherwise end on a day which is not a
     Business Day, such Interest Period shall end on the next following Business
     Day unless such day falls in the next calendar month, in which case such
     Interest Period shall end on the first preceding Business Day; and
     (e) no Interest Period may end later than the termination of this Note.

     Relative to any Prime Rate Loans, the period beginning on (and including)
     the date on which such Prime Rate Loan is made or continued as, or
     converted into, a Prime Rate Loan pursuant to Section 2 or 3 and ending on
     (but excluding) the day which numerically corresponds to such date one
     month thereafter

     LIBOR Rate: Relative to any Interest Period for LIBOR Rate Loans, the
offered rate for deposits of U.S. Dollars in an amount approximately equal to
the amount of the requested LIBOR Rate Loan for a term coextensive with the
designated Interest Period which the British Bankers' Association fixes as its
LIBOR rate as of 11:00 a.m. London time on the day which is two London Banking
Days prior to the beginning of such Interest Period.

     LIBOR Rate Loan: Any Loan the rate of interest applicable to which is based
upon the LIBOR Rate.

     LIBOR Lending Rate: Relative to any LIBOR Rate Loan to be made, continued
or maintained as, or converted into, a LIBOR Rate Loan for any Interest Period,
a rate per annum determined pursuant to the following formula:

           LIBOR Lending Rate         =        LIBOR Rate
                                               ----------
                                    (1.00 - LIBOR Reserve Percentage)

     LIBOR-Reference Banks Loan: Any Loan the rate of interest applicable to
which is based upon the LIBOR-Reference Banks Rate.

     LIBOR-Reference Banks Lending Rate: Relative to a LIBOR-Reference Banks
Rate Loan for any Interest Period, a rate per annum determined pursuant to the
following formula:

           LIBOR-Reference Banks Lending Rate =   LIBOR-Reference Banks Rate
                                                  --------------------------
                                               (1.00 - LIBOR Reserve Percentage)

                                      -3-
<PAGE>

     LIBOR-Reference Banks Rate: Relative to any Interest Period for
LIBOR-Reference Banks Loans, the rate for which deposits in U.S. Dollars are
offered by the Reference Banks to prime banks in the London interbank market in
an amount approximately equal to the amount requested LIBOR-Reference Banks Loan
at approximately 11:00 a.m., London time on the day that is two London Banking
Days prior to the beginning of such Interest Period. The Bank will request the
principal London office of each of the Reference Banks to provide a quotation of
its rate. If at least two such quotations are provided, the rate for such date
will be the arithmetic mean of the quotations. If fewer than two quotations are
provided as requested, the rate for such date will be the arithmetic mean of the
rates quoted by major banks in New York City selected by the Bank, at
approximately 11:00 a.m. New York City time for loans in U.S. Dollars to leading
European banks for such Interest Period and in an amount approximately equal to
the amount requested LIBOR-Reference Banks Loan.

     LIBOR Reserve Percentage: Relative to any day of any Interest Period for
LIBOR Rate Loans, the maximum aggregate (without duplication) of the rates
(expressed as a decimal fraction) of reserve requirements (including all basic,
emergency, supplemental, marginal and other reserves and taking into account any
transitional adjustments or other scheduled changes in reserve requirements)
under any regulations of the Board of Governors of the Federal Reserve System
(the "Board") or other governmental authority having jurisdiction with respect
thereto as issued from time to time and then applicable to assets or liabilities
consisting of "Eurocurrency Liabilities", as currently defined in Regulation D
of the Board, having a term approximately equal or comparable to such Interest
Period.

     Loan: All amounts outstanding under this Note.

     Loan Agreement: As defined above.

     Loan Documents: As defined in the Loan Agreement.

     London Banking Day: A day on which dealings in US dollar deposits are
transacted in the London interbank market.

     Maturity Date: _______________, 2009.

     Mortgage: That certain mortgage with power of sale, security agreement and
financing statement of even date herewith on that certain property located in
the City of Tulsa, County of Tulsa, and State of Oklahoma, as more particularly
described therein, given by Maker in favor of Bank to secure this Note.

     Note: This Promissory Note.

     Prime Rate: The rate of interest announced by Bank in Cleveland, Ohio from
time to time as its "Prime Rate." The Maker acknowledges that the Bank may make
loans to its customers above, at or below the Prime Rate. Interest accruing by
reference to the Prime Rate shall be calculated on the basis of actual days
elapsed and a 360-day year.

     Prime Rate Loan: Any Loan for the period(s) when the rate of interest
applicable to such Loan is calculated by reference to the Prime Rate.

                                      -4-
<PAGE>

     Reference Banks: Four major banks in the London interbank market.

     2. Borrowing Procedures.

     Interest Election. Interest on the outstanding principal amount of this
Note shall accrue, at Maker's option, at one of the following rates of interest:
(i) the Prime Rate; or (ii) during the Interest Period applicable thereto at a
rate equal to the sum of the LIBOR Lending Rate for such Interest Period plus
the Applicable Margin thereto and be payable on each Interest Payment Date.

     LIBOR Loan Request. By delivering a borrowing request to the Bank on or
before 10:00 a.m., New York time, on a Business Day, the Maker may from time to
time irrevocably request, on not less than two nor more than five Business Days'
notice, that a LIBOR Rate Loan be made in a minimum amount of $10,000 and
integral multiples of $10,000, with an Interest Period of one, two, three, or
six months. On the terms and subject to the conditions of this Note, each LIBOR
Rate Loan shall be made available to the Maker no later than 11:00 a.m. New York
time on the first day of the applicable Interest Period by deposit to the
account of the Maker as shall have been specified in its borrowing request.

     Continuation and Conversion Elections. By delivering a
continuation/conversion notice to the Bank on or before 10:00 a.m., New York
time, on a Business Day, the Maker may from time to time irrevocably elect, on
not less than two nor more than five Business Days' notice, that all, or any
portion in an aggregate minimum amount of $10,000 and integral multiples of
$10,000, of any LIBOR Rate Loan be converted on the last day of an Interest
Period into a LIBOR Rate Loan with a different Interest Period, or continued on
the last day of an Interest Period as a LIBOR Rate Loan with a similar Interest
Period, provided, however, that no portion of the outstanding principal amount
of any LIBOR Rate Loans may be converted to, or continued as, LIBOR Rate Loans
when any default or Event of Default has occurred and is continuing, and no
portion of the outstanding principal amount of any LIBOR Rate Loans may be
converted to LIBOR Rate Loans of a different duration if such LIBOR Rate Loans
relate to any Hedging Obligations. If any default or Event of Default has
occurred and is continuing (if the Bank does not otherwise elect to exercise any
right to accelerate the Loans it is granted hereunder), or in the absence of
delivery of a continuation/conversion notice with respect to any LIBOR Rate Loan
at least two Business Days before the last day of the then current Interest
Period with respect thereto, each maturing LIBOR Rate Loan shall automatically
be continued as a Prime Rate Loan.

     3. Repayments, Prepayments, and Interest.

     Repayments Continuations and Conversions. LIBOR Rate Loans shall mature and
become payable in full on the last day of the Interest Period relating to such
LIBOR Rate Loan. Prior to the termination of this Note, upon the maturity of a
LIBOR Rate Loan it may be continued for an additional Interest Period or may be
converted to a Prime Rate Loan (if there exists no default or Event of Default
and the Bank does not otherwise elect to exercise any right to accelerate the
Loan it is granted hereunder).

                                      -5-
<PAGE>

     Voluntary Prepayment of the LIBOR Rate Loan. When classified as a LIBOR
Rate Loan, the Loan may be prepaid upon the terms and conditions set forth
herein. The Maker acknowledges that additional obligations may be associated
with prepayment, in accordance with the terms and conditions of any applicable
Hedging Contracts. The Maker shall give the Bank, no later than 10:00 a.m., New
York City time, at least four (4) Business Days notice of any proposed
prepayment of the LIBOR Rate Loan, specifying the proposed date of payment and
the principal amount to be paid. Each partial prepayment of the principal amount
of the LIBOR Rate Loan shall be in an integral multiple of $10,000 and
accompanied by the payment of all charges outstanding on the LIBOR Rate Loan and
of all accrued interest on the principal repaid to the date of payment. Maker
acknowledges that prepayment or acceleration of the LIBOR Rate Loan during an
Interest Period shall result in the Bank incurring additional costs, expenses
and/or liabilities and that it is extremely difficult and impractical to
ascertain the extent of such costs, expenses and/or liabilities. Therefore, all
full or partial prepayments of the LIBOR Rate Loan shall be accompanied by, and
the Maker hereby promises to pay, on each date the LIBOR Rate Loan is prepaid or
the date all sums payable hereunder become due and payable, by acceleration or
otherwise, in addition to all other sums then owing, an amount ("LIBOR Rate Loan
Prepayment Fee") determined by the Bank pursuant to the following formula:

     (a)  the then current rate for United States Treasury securities (bills on
          a discounted basis shall be converted to a bond equivalent) with a
          maturity date closest to the end of the Interest Period as to which
          prepayment is made, subtracted from

     (b)  the LIBOR Lending Rate plus the Applicable Margin then applicable to
          the LIBOR Rate Loan.

     If the result of this calculation is zero or a negative number, then there
     shall be no LIBOR Rate Loan Prepayment Fee. If the result of this
     calculation is a positive number, then the resulting percentage shall be
     multiplied by:

     (c)  the amount of the LIBOR Rate Loan being prepaid.

     The resulting amount shall be divided by:

     (d)  360

     and multiplied by:

     (e)  the number of days remaining in the Interest Period as to which the
          prepayment is being made.

     Said amount shall be reduced to present value calculated by using the
     referenced United States Treasury securities rate and the number of days
     remaining on the Interest Period for the LIBOR Rate Loan.

     The resulting amount of these calculations shall be the LIBOR Rate Loan
     Prepayment Fee.

                                      -6-
<PAGE>

     Interest Provisions. Interest on the outstanding principal amount of the
Loan when classified as a: (i) LIBOR Rate Loan shall accrue during each Interest
Period at a rate equal to the sum of the LIBOR Lending Rate for such Interest
Period plus the Applicable Margin thereto and be payable on each Interest
Payment Date, (ii) LIBOR-Reference Banks Rate Loan shall accrue during each
Interest Period at a rate equal to the sum of the LIBOR-Reference Banks Lending
Rate for such Interest Period plus the Applicable Margin thereto and be payable
on each Interest Payment Date, and (iii) Prime Rate Loan shall accrue during
each Interest Period at a rate equal to the Prime Rate and be payable on each
Interest Payment Date.

     4. Miscellaneous LIBOR Rate Loan Terms.

     LIBOR Rate Lending Unlawful. If the Bank shall determine (which
determination shall, upon notice thereof to the Maker be conclusive and binding
on the Maker) that the introduction of or any change in or in the interpretation
of any law, rule, regulation or guideline, (whether or not having the force of
law) makes it unlawful, or any central bank or other governmental authority
asserts that it is unlawful, for the Bank to make, continue or maintain the Loan
as, or to convert the Loan into, a LIBOR Rate Loan, and if the Loan is then
presently a LIBOR Rate Loan, it shall automatically convert into a
LIBOR-Reference Banks Loan at the end of the then current Interest Period or
sooner, if required by such law or assertion. For purposes of this Note, in the
event of such a conversion, all LIBOR-Reference Banks Rate Loans shall be
treated (except as to interest rate) as equivalent to a LIBOR Rate Loan of
similar amount and Interest Period. For greater certainty, all provisions of
this Note relating to LIBOR Rate Loans shall apply equally to LIBOR-Reference
Banks Loans, including, but not limited to the manner in which LIBOR-Reference
Banks Loans are requested, continued, converted, the manner in which interest
accrues, is payable, principal payments are made, whether voluntary or
involuntary, as well as any penalties, increased costs or taxes associated with
any of the foregoing.

     Substitute Rate. If the Bank shall have determined that:

     (a)  US dollar deposits in the relevant amount and for the relevant
          Interest Period are not available to the Bank in the London interbank
          market;

     (b)  by reason of circumstances affecting the Bank in the London interbank
          market, adequate means do not exist for ascertaining the LIBOR Rate
          applicable hereunder to the LIBOR Rate Loan, or

     (c)  the LIBOR Rate no longer adequately reflects the Bank's cost of
          funding the Loan,

     then, upon notice from the Bank to the Maker, the LIBOR Rate Loan shall
     automatically convert to a LIBOR-Reference Bank Loan. During any such
     suspension, the Loan shall be classified as a LIBOR-Reference Bank Loan.

     Indemnities. In addition to the LIBOR Rate Loan Prepayment Fee, the Maker
agrees to reimburse the Bank (without duplication) for any increase in the cost
to the Bank, or reduction in the amount of any sum receivable by the Bank, in
respect, or as a result of:

                                      -7-
<PAGE>

     (a)  any conversion or repayment or prepayment of the principal amount of
          any LIBOR Rate Loans on a date other than the scheduled last day of
          the Interest Period applicable thereto, whether pursuant to Section 10
          or otherwise;

     (b)  any Loans not being made as LIBOR Rate Loans in accordance with the
          borrowing request thereof;

     (c)  any LIBOR Rate Loans not being continued as, or converted into, LIBOR
          Rate Loans in accordance with the continuation/conversion notice
          thereof, or

     (d)  any costs associated with marking to market any Hedging Obligations
          that (in the reasonable determination of the Bank) are required to be
          terminated as a result of any conversion, repayment or prepayment of
          the principal amount of any LIBOR Rate Loan on a date other than the
          scheduled last day of the Interest Period applicable thereto, whether
          pursuant to Section 10 or otherwise.

The Bank shall promptly notify the Maker in writing of the occurrence of any
such event, such notice to state, in reasonable detail, the reasons therefore
and the additional amount required fully to compensate the Bank for such
increased cost or reduced amount. Such additional amounts shall be payable by
the Maker to the Bank within five days of its receipt of such notice, and such
notice shall, in the absence of manifest error, be conclusive and binding on the
Maker. The Maker understands, agrees and acknowledges the following: (i) the
Bank does not have any obligation to purchase, sell and/or match funds in
connection with the use of LIBOR Rate as a basis for calculating the rate of
interest on a LIBOR Rate Loan, (ii) the LIBOR Rate may be used merely as a
reference in determining such rate, and (iii) the Maker has accepted the LIBOR
Rate as a reasonable and fair basis for calculating such rate, the LIBOR Rate
Prepayment Fee, and other funding losses incurred by the Bank. Maker further
agrees to pay the LIBOR Rate Prepayment Fee and other funding losses, if any,
whether or not the Bank elects to purchase, sell and/or match funds.

     Increased Costs. If on or after the date hereof the adoption of any
applicable law, rule or regulation or guideline (whether or not having the force
of law), or any change therein, or any change in the interpretation or
administration thereof by any governmental authority, central bank or comparable
agency charged with the interpretation or administration thereof, or compliance
by the Bank with any request or directive (whether or not having the force of
law) of any such authority, central bank or comparable agency:

     (a)  shall subject the Bank to any tax, duty or other charge with respect
          to the LIBOR Rate Loan or its obligation to make the LIBOR Rate Loan,
          or shall change the basis of taxation of payments to the Bank of the
          principal of or interest on the LIBOR Rate Loan or any other amounts
          due under this Note in respect of the LIBOR Rate Loan or its
          obligation to make the LIBOR Rate Loan (except for the introduction
          of, or change in the rate of, tax on the overall net income of the
          Bank or franchise taxes, imposed by the jurisdiction (or any political
          subdivision or taxing authority thereof) under the laws of which the
          Bank is organized or in which the Bank's principal executive office is
          located); or

                                      -8-
<PAGE>

     (b)  shall impose, modify or deem applicable any reserve, special deposit
          or similar requirement (including, without limitation, any such
          requirement imposed by the Board of Governors of the Federal Reserve
          System of the United States) against assets of, deposits with or for
          the account of, or credit extended by, the Bank or shall impose on the
          Bank or on the London interbank market any other condition affecting
          the LIBOR Rate Loan or its obligation to make the LIBOR Rate Loan;

and the result of any of the foregoing is to increase the cost to the Bank of
making or maintaining the Loan as a LIBOR Rate Loan, or to reduce the amount of
any sum received or receivable by the Bank under this Note with respect thereto,
by an amount deemed by the Bank to be material, then, within 15 days after
demand by the Bank, the Maker shall pay to the Bank such additional amount or
amounts as will compensate the Bank for such increased cost or reduction.

     Increased Capital Costs. If any change in, or the introduction, adoption,
effectiveness, interpretation, reinterpretation or phase-in of, any law or
regulation, directive, guideline, decision or request (whether or not having the
force of law) of any court, central bank, regulator or other governmental
authority affects or would affect the amount of capital required or expected to
be maintained by the Bank, or person controlling the Bank, and the Bank
determines (in its reasonable discretion) that the rate of return on the Loan
made by the Bank is reduced to a level below that which the Bank or such
controlling person could have achieved but for the occurrence of any such
circumstance, then, in any such case upon notice from time to time by the Bank
to the Maker, the Maker shall immediately pay directly to the Bank additional
amounts sufficient to compensate the Bank or such controlling person for such
reduction in rate of return. A statement of the Bank as to any such additional
amount or amounts (including calculations thereof in reasonable detail) shall,
in the absence of manifest error, be conclusive and binding on the Maker. In
determining such amount, the Bank may use any method of averaging and
attribution that it (in its reasonable discretion) shall deem applicable.

     Taxes. All payments by the Maker of principal of, and interest on, the
LIBOR Rate Loan and all other amounts payable hereunder shall be made free and
clear of and without deduction for any present or future income, excise, stamp
or franchise taxes and other taxes, fees, duties, withholdings or other charges
of any nature whatsoever imposed by any taxing authority, but excluding
franchise taxes and taxes imposed on or measured by the Bank's net income or
receipts (such non-excluded items being called "Taxes"). In the event that any
withholding or deduction from any payment to be made by the Maker hereunder is
required in respect of any Taxes pursuant to any applicable law, rule or
regulation, then the Maker will:

     (a)  pay directly to the relevant authority the full amount required to be
          so withheld or deducted;

     (b)  promptly forward to the Bank an official receipt or other
          documentation satisfactory to the Bank evidencing such payment to such
          authority; and

                                      -9-
<PAGE>

     (c)  pay to the Bank such additional amount or amounts as is necessary to
          ensure that the net amount actually received by the Bank will equal
          the full amount the Bank would have received had no such withholding
          or deduction been required.

     Moreover, if any Taxes are directly asserted against the Bank with respect
to any payment received by the Bank hereunder, the Bank may pay such Taxes and
the Maker will promptly pay such additional amount (including any penalties,
interest or expenses) as is necessary in order that the net amount received by
the Bank after the payment of such Taxes (including any Taxes on such additional
amount) shall equal the amount the Bank would have received had not such Taxes
been asserted.

     If the Maker fails to pay any Taxes when due to the appropriate taxing
authority or fails to remit to the Bank the required receipts or other required
documentary evidence, the Maker shall indemnify the Bank for any incremental
Taxes, interest or penalties that may become payable by the Bank as a result of
any such failure.

5. Maturity. All unpaid principal, all accrued and unpaid interest, and all
other sums due and payable under this Note or any of the other loan documents,
if not sooner paid, shall be due and payable in full on the Maturity Date.

6. Loan Documents. Maker is executing simultaneously herewith or have executed
or will execute certain Loan Documents in favor of Bank. The indebtedness
evidenced by this Note is secured by certain of the Loan Documents, and all of
the covenants, conditions and agreements contained in all of the Loan Documents
are hereby made a part of and incorporated into this Note by this reference.
Reference is hereby made to the Loan Documents for a description of the security
and the rights of Bank and the obligations of Maker in respect thereto, but
neither this reference to the Loan Documents nor any provisions thereof shall
affect or impair the obligation of Maker to pay the principal and interest of
this Note and all other sums or charges hereunder when due and payable in
accordance with the terms and conditions hereof.

     A default under this Note shall, at the option of Bank, also constitute a
default under any or all of the other Loan Documents. In addition to, and not in
limitation of, the foregoing, a default under any or all of the other Loan
Documents shall, at the option of Bank, constitute a default under this Note.

7. Waiver of Marshalling of Assets. Maker hereby waives for itself and, to the
fullest extent not prohibited by applicable law, for any subsequent lien or, any
right Maker may now or hereafter have under the doctrine of marshalling of
assets or otherwise which would require Bank to proceed against certain property
covered by any of the Loan Documents before proceeding against any other
property covered by any of the Loan Documents. Bank shall have the right to
proceed, in its sole discretion, against the property secured by any of the Loan
Documents in such order and in such portions as Bank may determine, without
regard to the adequacy of value or other liens on any such property, and any
such action shall not in any way be considered as a waiver of any of the right,
benefits, liens or security interests created by any of the Loan Documents.

                                      -10-
<PAGE>

8. Default Interest. Maker hereby agrees that in the event any payment due
hereunder is not paid when due or the entire indebtedness evidenced by this Note
is not paid when due, then the rate of interest on this Note, at the election of
Bank, without notice or demand, which is hereby expressly waived, shall be
increased to be equal to the sum of four (4) percentage points plus the interest
rate otherwise applicable on the Loan or the highest rate for which the parties
may agree under applicable law, whichever is less (the "Default Rate"). Maker
shall be obligated thereafter to pay interest on the then unpaid principal
balance of this Note at the Default Rate, to be computed from the due date
through and including the date of actual receipt of the overdue payment, whether
a monthly payment or the entire indebtedness. Nothing herein shall be construed
as an agreement or privilege to accelerate or extend the date of the payment of
any installment of, or the entire indebtedness, nor as a waiver of any other
right or remedy accruing to Bank by reason of any such default.

9. Late Charge. In the event that any regularly scheduled monthly payment of
interest or principal and interest, as the case may be, as herein provided,
shall not be received by Bank within fifteen (15) days after the date such
payment is due as herein provided, Bank shall have the right, at its sole option
and without notice to Maker, such notice being expressly waived hereby, to
assess Maker a late payment charge in the amount of Five Cents ($.05) for each
dollar ($1.00) of such overdue monthly installment, which shall become
immediately due to Bank as agreed compensation to Bank for the additional costs
and expenses reasonably expected to be incurred by Bank by reason of such
nonpayment, such as in contacting Maker and arranging for and processing
remedial payment. Maker acknowledges that the exact amount of such costs and
expenses may be difficult, if not impossible, to determine with certainty, and
further acknowledge and confess the amount of such charge to be a consciously
considered, good faith estimate of the actual damage to Bank by reason of such
default. The payment of such late charge shall be secured by the Loan Documents,
shall be payable on demand, but in any event not later than the due date of the
next regularly scheduled monthly payment hereunder, and shall apply only to
monthly installments due and payable hereunder prior to any acceleration by Bank
of the indebtedness evidenced hereby. Whether or not expressed, this election
shall not impair the Bank's further right to interest on the unpaid amount at
the Default Rate from the date such payment was due through the date of actual
payment.

10. Default. Upon any of the following events, at the election of Bank, the
entire unpaid principal balance of the indebtedness evidenced hereby, together
with all accrued but unpaid interest thereon at the Default Rate and all other
sums or charges due hereunder or secured by or required to be paid by Maker
under any of the Loan Documents, shall become immediately due and payable:

     (a)  If Maker fails to pay any sum required to be paid by Maker hereunder
          within fifteen (15) days after the date such payment is due as herein
          provided;

     (b)  If Maker defaults or breaches any covenant or agreement herein or in
          any of the other Loan Documents, and such failure remains uncorrected
          at the expiration of any applicable grace period provided for in the
          Loan Documents;

                                      -11-
<PAGE>

     (c)  If in any creditor's proceeding Maker shall consent to the appointment
          of a receiver or trustee for the property encumbered by any of the
          Loan Documents;

     (d)  If any order, judgment or decree shall be entered, without the consent
          of Maker, upon an application of a creditor approving the appointment
          of a receiver or trustee for the property encumbered by any of the
          Loan Documents, and any such order, judgment, decree, or appointment
          shall not be dismissed or stayed with appropriate appeal bond within
          sixty (60) days following the entry or rendition thereof;

     (e)  If any of the Maker (i) make a general assignment for the benefit of
          creditors, (ii) fail to pay its debts generally as such debts become
          due, (iii) are found to be insolvent by a court of competent
          jurisdiction, (iv) voluntarily files a petition in voluntary
          bankruptcy or a petition or answer seeking a readjustment of debts
          under any federal bankruptcy law, or (v) any such petition is filed
          against any of the Maker and is not vacated or dismissed within sixty
          (60) days after the filing thereof; or

     (f)  If Maker defaults in the due performance of any other agreement with
          Lender beyond any applicable grace period contained therein,
          including, without limitation, all agreements between Lender and the
          Maker which give rise to Hedging Obligations.

Notice of such election by Bank is hereby expressly waived as part of the
consideration for this loan. Nothing contained herein shall be construed to
restrict the exercise of any other rights or remedies granted to Bank hereunder
or under any of the other Loan Documents upon the failure of Maker to perform
any provision hereof or of any of the other Loan Documents. No failure by Bank
to exercise any right hereunder or under any of the other Loan Documents shall
be construed as a waiver of the right to exercise the same or any other right at
any time or from time to time thereafter.

11. Bank's Costs. If this Note is not paid when due, whether at maturity or by
acceleration, Maker promises to pay all costs of collection incurred by Bank,
including without limitation reasonable attorneys' fees to the fullest extent
not prohibited by applicable law, and all expenses incurred in connection with
the protection or realization of any collateral, whether or not suit is filed
hereon or on any instrument granting a security interest.

12. Waiver. Maker hereby waives demand, presentment for payment, protest, notice
of protest, notice of nonpayment and any and all lack of diligence or delays in
collection or enforcement of this Note or the other Loan Documents, and
expressly consents to any extension of time of payment hereof, release of any
party primarily or secondarily liable hereunder or of any of the security for
this Note, acceptance of other parties to be liable for any of the indebtedness
evidenced hereby or under the other Loan Documents or of other security
therefor, or any other indulgence or forbearance which may be made, without
notice to any party and without in any way affecting the liability of any party.
The Maker hereby waives, in favor of the holder hereof, any and all rights of
contribution, subrogation, exoneration and any similar rights and interest so
long as any amount evidenced by this Note, together with any additional amount
secured by any of the Loan Documents, remains unpaid.

                                      -12-
<PAGE>

13. Defined Terms. The term "Maker" as used herein shall include the
undersigned, and its successors (including successors in interest to the
property encumbered by the Loan Documents) and assigns; the term "Bank" as used
herein shall include Charter One Bank, N.A., its successors and assigns, and
each subsequent holder of this Note from time to time.

14. Forfeiture. Maker hereby further expressly represent and warrants to Bank
that it has not committed any act or omission affording the federal government
or any state or local government the right and/or remedy of forfeiture as
against any of the property described in any of the Loan Documents, or any part
thereof, or any monies paid in performance of their obligations under this Note
or under any of the other Loan Documents. Maker hereby covenants and agrees not
to commit, permit, or suffer to exist any act or omission affording such right
and/or remedy of forfeiture. In furtherance thereof, the Maker hereby
indemnifies Bank and agrees to defend and hold Bank harmless from and against
any loss, damage or other injury, including, without limitation, attorneys' fees
and expenses to the fullest extent not prohibited by applicable law, and all
other costs and expenses incurred by Bank in preserving its liens, security
interests and other rights and interests in any of the property encumbered by
any of the Loan Documents in any proceeding or other governmental action
asserting forfeiture thereof, by reason of, or in any manner resulting from, the
breach of the covenants and agreements or the warranties and representations set
forth in the preceding sentence. Without limiting the generality of the
foregoing, the filing of formal charges or the commencement of proceedings
against the Maker, Bank, any guarantor, any property or collateral encumbered by
any of the Loan Documents under any federal or state law in respect of which
forfeiture of such property or any part thereof or of any monies paid in
performance of any of the Maker's obligations under the Loan Documents is a
potential result, shall, at the election of the Bank in its absolute discretion,
constitute a default hereunder without notice or opportunity to cure.

15. Governing Law. This Note shall be construed and enforced according to, and
governed by, the laws of the State of Ohio.

16. WAIVER OF JURY TRIAL. MAKER HEREBY, AND BANK BY ITS ACCEPTANCE HEREOF, EACH
WAIVE THE RIGHT OF A JURY TRIAL IN EACH AND EVERY ACTION ON THIS NOTE OR ANY OF
THE OTHER LOAN DOCUMENTS, IT BEING ACKNOWLEDGED AND AGREED THAT ANY ISSUES OF
FACT IN ANY SUCH ACTION ARE MORE APPROPRIATELY DETERMINED BY THE COURTS;
FURTHER, Maker HEREBY CONSENTS AND SUBJECTS ITSELF TO THE JURISDICTION OF COURTS
OF THE STATE OF OHIO AND, WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, TO
THE VENUE OF SUCH COURTS IN THE COUNTY IN WHICH THE PROPERTY ENCUMBERED BY THE
LOAN DOCUMENTS IS LOCATED.

17. Notices. Except for any notice required under applicable law to be given in
another manner, any notice, demand, request or other communication which any
party hereto may be required or may desire to give hereunder shall be as set
forth in the Loan Agreement.

                                      -13-
<PAGE>

18. Cumulative Rights. No delay on the part of the holder of this Note in the
exercise of any power or right under this Note, under the Mortgage, or any of
the other Loan Documents or under any other instrument executed pursuant hereto,
shall operate as a waiver thereof, nor shall a single or partial exercise of any
other power or right. Enforcement by the holder of this Note or any security for
the payment thereof shall not constitute any election by it of remedies so as to
preclude the exercise of any other remedy available to it.

19. Binding Effect. This Note shall be binding upon the Maker, its successors
and permitted assigns, whether expressed or not.

20. Disbursements of Principal Amount. All principal disbursements hereunder
shall be made pursuant to the terms of the Loan Agreement.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK -
                            SIGNATURE PAGE TO FOLLOW]

                                      -14-
<PAGE>

                             TULSA PROMENADE, LLC, a Delaware limited liability
                             company

                             By: GLIMCHER PROPERTIES LIMITED
                                 PARTNERSHIP, a Delaware limited
                                 partnership, its sole member

                                 By: GLIMCHER PROPERTIES CORPORATION,
                                     a Delaware corporation, its general partner

                                     By:__________________________________
                                         George A. Schmidt
                                         Executive Vice President

                                      -15-EXHIBIT 10.108

Return recorded instrument to:
William R. Weir
Porter Wright Morris & Arthur, LLP
925 Euclid Avenue, Suite 1700
Cleveland, Ohio  44115

                 MORTGAGE WITH POWER OF SALE, SECURITY AGREEMENT
                 -----------------------------------------------
                             AND FINANCING STATEMENT
                             -----------------------

A POWER OF SALE HAS BEEN GRANTED IN THIS MORTGAGE. A POWER OF SALE MAY ALLOW
----------------------------------------------------------------------------
MORTGAGEE TO TAKE THE MORTGAGED PROPERTY AND SELL IT WITHOUT GOING TO COURT IN A
--------------------------------------------------------------------------------
FORECLOSURE ACTION UPON DEFAULT BY MORTGAGOR UNDER THIS MORTGAGE.
-----------------------------------------------------------------

     THIS MORTGAGE WITH POWER OF SALE, SECURITY AGREEMENT AND FINANCING
STATEMENT (this "Mortgage") is made as of the 14th day of March, 2006, by Tulsa
Promenade, LLC, a Delaware limited liability company, ("Mortgagor"), in favor of
Charter One Bank, N.A., a national banking association with an address of 1215
Superior Avenue, Cleveland, Ohio 44114 ("Mortgagee").

     WHEREAS, Mortgagee has agreed to make a loan to Mortgagor in the principal
amount of Fifty Million and No/100 Dollars ($50,000,000.00) (the "Loan") and
Mortgagor has executed that certain promissory note of even date herewith in the
amount of Fifty Million and No/100 Dollars ($50,000,000.00) (the "Note") having
a final maturity on ___________, 2009, with interest thereon according to the
terms of the Loan Agreement (defined below) and the Note; and

     WHEREAS, pursuant to that certain Loan Agreement of even date herewith (the
"Loan Agreement") executed in conjunction with the Note, and certain limitations
set forth in the Loan Agreement regarding the maximum amount available to be
disbursed under the Note, Mortgagee has made or will make an initial
disbursement in the amount of Thirty-Five Million and No/100 Dollars
($35,000,000.00) (the "Initial Disbursement"); and

     WHEREAS, Mortgagor intends to enter into a Hedging Contract (as defined in
the Loan Agreement) with Mortgagee creating additional potential indebtedness of
Mortgagor in the amount of approximately Two Million Seven Hundred Thousand and
No/100 Dollars ($2,700,000.00) (the "Additional Exposure"); and

     WHEREAS, Mortgagor is justly indebted to Mortgagee in the sum of
Thirty-Seven Million Seven Hundred Thousand and No/100 Dollars ($37,700,000.00)
consisting of the Initial Disbursement and the Additional Exposure; and

<PAGE>

     WHEREAS, pursuant to the terms of the Loan Agreement, Mortgagor may request
and Mortgagee may make certain additional obligatory advances of the Loan
proceeds ("Additional Advances"); and

     WHEREAS, prior to any Additional Advances, Mortgagor and Mortgagee will
amend this Mortgage to increase the amount of indebtedness secured hereby and
pay any mortgage tax required in conjunction therewith.

     NOW, THEREFORE, to secure to Mortgagee the payment of the aforesaid
indebtedness, with interest thereon, the payment of all present and future
indebtedness from Mortgagor to Mortgagee, and the performance of the covenants
and agreements herein contained and contained in the Loan Agreement, or any
other documents related to the Loan, including without limitation, all
obligations and liabilities of Mortgagor under any Hedging Contract, interest
rate swap agreements, interest rate cap agreements and interest rate collar
agreements, and all other agreements or arrangements with the Mortgagee designed
to protect Mortgagor against fluctuations in interest rates or currency exchange
rates, Mortgagor does hereby grant, bargain, sell, convey, mortgage and grant a
security interest unto Mortgagee and to its successors and assigns the real
property located in Tulsa County, Oklahoma, described on attached Exhibit "A",
together with all and singular the tenements, hereditaments and appurtenances
thereof; all buildings and improvements now or hereafter constructed on such
real property; and all fixtures, equipment, machinery, apparatus and articles of
personal property of every kind and character now owned or hereafter acquired by
Mortgagor and now or hereafter located in or on the aforesaid buildings and
improvements or used or useful for the operation, construction, ownership,
management, maintenance, financing or sale of the foregoing real property,
buildings or improvements, and all accounts, instruments, documents, chattel
paper, contract rights, inventory, general intangibles and goods, all of which
property is herein called the "Collateral", which shall include, but not be
limited to: (a) all signs, draperies, screens, awnings, storm windows and doors,
window shades, cabinets, partitions, floor coverings, escalators, elevators and
motors, ranges, refrigerators, boilers, tanks, furnaces, radiators and all
heating, lighting, plumbing, gas, electric, ventilating, refrigerating, air
conditioning, laundry, cleaning, fire prevention, fire extinguishing,
communications, kitchen and incinerating equipment of whatsoever kind and
character; (b) all of the right, title and interest of Mortgagor in and to any
items of personal property which may be subject to a title retention or security
agreement superior in lien to the lien of this Mortgage; and (c) proceeds and
products thereof; provided the Collateral shall not include fixtures and
furnishings owned by bona fide tenants of the improvements. The above described
real estate, appurtenances, improvements and Collateral are hereinafter
collectively called the "Mortgaged Premises" and are hereby declared to be
subject to the lien of this Mortgage as security for the payment of the
indebtedness herein described. All of the terms used in this paragraph which are
defined in the Oklahoma Uniform Commercial Code (the "UCC") shall have the
meanings set forth in the UCC.

     TO HAVE AND TO HOLD the Mortgaged Premises with all the rights,
improvements and appurtenances thereunto belonging, or in anywise appertaining
unto Mortgagee, its successors and assigns, forever. Mortgagor covenants that,
except for rights-of-way and easements of record and other exceptions as may be
approved by Mortgagee, Mortgagor is seized of an indefeasible estate in fee

                                       2
<PAGE>

simple in the Mortgaged Premises, that Mortgagor has good title to the Mortgaged
Premises, a good right to sell, convey and mortgage the same, that the Mortgaged
Premises are free and clear of all general and special taxes, liens, charges and
encumbrances of every kind and character, and that Mortgagor hereby warrants and
will forever defend the title thereto against the claims of all persons
whomsoever.

     1. Payment of Debt. If Mortgagor shall pay the indebtedness herein
described and Mortgagor shall in all things do and perform all other acts and
agreements herein contained to be done, then, in that event only, this Mortgage
shall be and become null and void.

     2. Maintenance; Waste. With respect to the Mortgaged Premises, Mortgagor
covenants and agrees to keep the same in good condition and repair; to pay all
general and special taxes and assessments and other charges that may be levied
or assessed upon or against the same as they become due and payable and to
furnish to Mortgagee receipts showing payment of any such taxes and assessments,
if demanded; to pay all debts for repair or improvements now existing or
hereafter arising which may become liens upon or charges against the Mortgaged
Premises; to comply with or cause to be complied with all requirements of any
governmental authority relating to the Mortgaged Premises; to promptly repair,
restore, replace or rebuild any part of the Mortgaged Premises which may be
damaged or destroyed by any casualty whatsoever or which may be affected by any
condemnation proceeding or exercise of eminent domain; and to promptly notify
Mortgagee of any damage to the Mortgaged Premises in excess of One Million
Dollars ($1,000,000.00). Mortgagor further covenants and agrees that Mortgagor
will not commit or suffer to be committed any waste of the Mortgaged Premises;
initiate, join in or consent to any change in any private restrictive covenant,
zoning ordinance or other public or private restrictions limiting or defining
the uses which may be made of the Mortgaged Premises or any part thereof; permit
any lien or encumbrance of any kind or character to accrue or remain on the
Mortgaged Premises or any part thereof which might take precedence over the lien
of this Mortgage.

     3. Taxes and Insurance. Mortgagor will pay or cause to be paid all real
estate taxes and assessments on the Mortgaged Premises and all insurance
premiums for hazard and liability insurance covering the Mortgaged Premises as
the same shall become due as further set forth in the Loan Agreement.
Furthermore, Mortgagor shall submit evidence of payment of the same upon written
request from Mortgagee. In the event of a default in the payment of such taxes
or insurance then Mortgagee shall be permitted to pay the taxes and/or insurance
to protect the Mortgaged Premises and charge the same to the Mortgagor as
additional indebtedness secured by the Mortgage. Notwithstanding the foregoing,
Mortgagee shall reserve the right to require Mortgagor to pay to Mortgagee in
addition to the monthly installments of principal and interest a sum (herein
"Funds") equal to one-twelfth of the yearly taxes and assessments which may
attain priority over this Mortgage plus one-twelfth of yearly premium
installments for hazard insurance, all as reasonably estimated initially and
from time to time by Mortgagee on the basis of assessments and bills and
reasonable estimates thereof. The Funds shall be held by Mortgagee, who shall
apply the Funds to pay said taxes, assessments and insurance premiums. Mortgagee
shall make no charge for so holding and applying the Funds or verifying and
compiling said assessments and bills. Mortgagee shall not be required to pay
Mortgagor any interest on the Funds. Mortgagee shall give to Mortgagor, without

                                       3
<PAGE>

charge, an annual accounting of the Funds showing credits and debits to the
Funds and the purpose for which each debit to the Funds was made. The Funds are
pledged as additional security for the indebtedness secured by this Mortgage.
Funds paid hereunder may be commingled with other funds of the Mortgagee.

     If the amount of the Funds held by Mortgagee shall not be sufficient to pay
taxes, assessments and insurance premiums as they fall due, Mortgagor shall pay
to Mortgagee the amount of any such deficiency within thirty days after notice
from Mortgagee to Mortgagor requesting payment thereof.

     Upon payment in full of all sums secured by this Mortgage, Mortgagee shall
promptly refund to Mortgagor any Funds held by Mortgagee.

     4. Alterations. Except as permitted under the Loan Agreement, no completed
building or other property now or hereafter subject to the lien of this Mortgage
shall be removed, demolished or materially altered, without the prior written
consent of Mortgagee, except that Mortgagor shall have the right, without such
consent, to remove and dispose of, free from the lien of this Mortgage, such
Collateral as from time to time may become worn or obsolete, provided that
either: (a) simultaneously with or prior to such removal, any such Collateral
shall be replaced with other Collateral of a value at least equal to that of the
replaced Collateral and free from any title retention device, security agreement
or other encumbrance, and by such removal or replacement, Mortgagor shall be
deemed to have subjected such Collateral to the lien of this Mortgage; or (b)
any net cash proceeds received from such disposition shall be paid over promptly
to Mortgagee to be applied to the last installments due on the indebtedness
hereby secured, without any charge for prepayment.

     5. Default; Remedies. Upon the failure of Mortgagor (after notice to
Mortgagor and expiration of any applicable cure period pursuant to the Loan
Agreement) to pay any of the taxes, assessments, debts, liens or other charges
as the same become due and payable, or to insure the Mortgaged Premises as
required under the Loan Agreement, or to perform any of Mortgagor's covenants
and agreements herein, Mortgagee is hereby authorized, at its option, to insure
the Mortgaged Premises, or any part thereof, and pay the costs of such insurance
and to pay such taxes, assessments, debts, liens or other charges herein
described, or any part thereof, and to remedy Mortgagor's failure to perform
hereunder and pay the costs associated therewith, and Mortgagor hereby agrees to
refund on demand all sum or sums so paid, with interest thereon at the default
rate under the Note; and any such sum or sums so paid together with interest
thereon shall become a part of the indebtedness hereby secured; provided,
however, that the retention of a lien hereunder for any sum so paid shall not be
a waiver of subrogation or substitution which Mortgagee might otherwise have. In
the event of the failure of Mortgagor to pay any of the taxes, assessments,
debts, liens or other charges herein described as the same become due and
payable (provided, however, Mortgagor shall have the right to contest any such
charges in good faith by appropriate proceedings and thereby not be in default)
or to keep the Mortgaged Premises insured in the manner and time herein
provided, or the failure to deliver renewal policies in the manner and time
herein provided, or if any installment of principal or interest is not paid at
or within the time required by the terms of the Note, or the failure to do any
of the things herein agreed to be done, or on the breach of any of the terms of
the Note, the Loan Agreement, the Loan documents (as defined in the Loan

                                       4
<PAGE>

Agreement), this Mortgage or any other instrument securing or evidencing the
indebtedness hereby secured, beyond any applicable grace period contained
therein, including, without limitation, all agreements between Mortgagee and the
Mortgagor which give rise to Hedging Obligations (as defined in the Loan
Agreement), then, in any of such events, whether Mortgagee has paid any of the
taxes, liens or other charges, or procured the insurance, or remedied
Mortgagor's failure to perform, all as above mentioned, or not, Mortgagor shall
be in default hereunder. In the event of default, after applicable cure period,
Mortgagee may either (1) declare the principal of the Note, all interest accrued
thereon and all other sums hereby secured, without deduction and without notice,
to be immediately due and payable, and Mortgagee will be entitled to foreclose
this Mortgage by judicial proceeding, or (2) after any notice to Mortgagor and
Mortgagor required by the Oklahoma Power of Sale Mortgage Foreclosure Act,
declare the principal of the Note, all interest accrued thereon and all other
sums hereby secured, without deduction, to be immediately due and payable, and
Mortgagee will be entitled to foreclose this Mortgage by power of sale pursuant
to the provisions of the Oklahoma Power of Sale Mortgage Foreclosure Act.
Mortgagor hereby confers upon Mortgagee and grants to Mortgagee the power to
sell the Mortgaged Premises. On default, Mortgagee will be entitled to exercise
all further and additional remedies as might now or hereafter be accorded to
Mortgagee at law or in equity. Whether Mortgagee elects to foreclose this
Mortgage by judicial proceeding or by power of sale, Mortgagee shall,
immediately on default, be entitled to the possession of the Mortgaged Premises
and the rents and profits thereof, and shall be entitled to have a receiver
appointed to take possession of the Mortgaged Premises without notice, which
notice Mortgagor hereby waives, notwithstanding anything contained in this
Mortgage or any law heretofore or hereafter enacted.

     6. Taxes; Expenses. Mortgagor agrees to pay any and all taxes which may be
levied or assessed directly or indirectly upon the Note, this Mortgage and the
indebtedness hereby secured, and further agrees to pay all expenses incurred in
connection with the creation of the indebtedness hereby secured, including,
without limitation, all broker's fees, real estate commissions, attorneys' fees,
title guaranty fees, survey expenses, appraiser's fees, abstracting expenses,
recording costs and lien indemnification fees, without regard to any law which
may be hereafter enacted imposing payment of the whole or any part thereof upon
Mortgagee; and, upon violation of this agreement, or upon the rendering by any
court of competent jurisdiction of a decision that such an agreement by a
mortgagor is legally inoperative, or if the rate of said taxes and expenses
added to the rate of interest provided for in the Note shall exceed the then
legal rate of interest, then, and in any such event, the indebtedness hereby
secured, without deduction, shall, at the option of Mortgagee become immediately
due and payable, anything contained in this Mortgage or in the Note
notwithstanding. The additional amounts which may become due and payable
hereunder shall be regarded as part of the indebtedness secured by this
Mortgage.

     7. Compliance with Laws. Mortgagor shall promptly and faithfully comply
with, conform to and obey all laws, regulations and other governmental
requirements of any agency or group having jurisdiction or similar body
exercising similar functions, that may be applicable to Mortgagor or to the
Mortgaged Premises or to the use or manner of use, occupancy, possession,
operation, maintenance, alteration, repair or reconstruction of the Mortgaged
Premises, whether or not such law, regulation or other governmental requirement
or rule or regulation shall necessitate structural changes or improvements or
interfere with the use or enjoyment of the Mortgaged Premises.

                                       5
<PAGE>

     8. Expenses of Collection. It is agreed that if, and as often as, this
Mortgage or the Note is placed in the hands of an attorney for collection, or to
protect the priority or validity of this Mortgage, or to prosecute or defend any
suit affecting the Mortgaged Premises, or to enforce or defend any of
Mortgagee's rights hereunder, Mortgagor shall pay to Mortgagee its reasonable
attorneys fees, together with all court costs, expenses for title examination,
title insurance or other disbursements relating to the Mortgaged Premises, which
sums shall be secured hereby.

     9. Appraisement. Appraisement of the Mortgaged Premises is hereby expressly
waived, or not, at the option of Mortgagee, such option to be exercised at the
time judgment is rendered in any foreclosure hereof, or at any time prior
thereto.

     10. Sale in Parcels. In case of any sale under this Mortgage by virtue of
judicial proceedings or otherwise, the Mortgaged Premises may be sold in one
parcel and as an entirety or in such parcels, manner or order as Mortgagee in
its sole discretion may elect, and Mortgagor waives any and all rights which
Mortgagor may have to insist upon the sale of the Mortgaged Premises in one
parcel or in separate parcels.

     11. Condemnation Awards. Application of proceeds received from condemnation
shall be applied as set forth in Article VIII of the Loan Agreement.

     12. Proceeds of Insurance; Restoration Following Casualty, Application of
Proceeds. Application of proceeds received from insurance shall be applied as
set forth in Article VIII of the Loan Agreement.

     13. Certificate. Mortgagor, upon request made either personally or by mail,
shall certify to Mortgagee or to any proposed assignee of this Mortgage, by a
writing duly acknowledged, the amount of principal and interest then owing on
this Mortgage and whether any offsets or defenses exist against the indebtedness
hereby secured, within ten (10) days after the mailing of such request.

     14. Notice. Except for any notice required under applicable law to be given
in another manner, any notice, demand, request or other communication which any
party hereto may be required or may desire to give hereunder shall be in writing
and shall be deemed to have been properly given (i) if hand delivered or if sent
by telecopy, effective upon receipt or (ii) if delivered by overnight courier
service, effective on the day following delivery to such courier service, or
(iii) if mailed by United States registered or certified mail, postage prepaid,
return receipt requested, effective two (2) days after deposit in the United
States mails; addressed in each case as follows:

     If to Mortgagor:

            Tulsa Promenade, LLC
            c/o Glimcher Properties Limited Partnership
            190 East Gay Street
            Columbus, Ohio 43215
            Attn:  General Counsel

                                       6
<PAGE>

     If to Mortgagee:

            Charter One Bank, N.A.
            1215 Superior Avenue
            Cleveland, Ohio  44114

or at such other address or to such other addressee as the party to be served
with notice may have furnished in writing to the party seeking or desiring to
serve notice as a place for the service of notice.

     15. Future Advancements. This Mortgage shall secure the payment of the
Note, including any and all advancements made by Mortgagee thereunder, and any
and all additional indebtedness of Mortgagor to Mortgagee incurred in connection
with the Mortgaged Premises or any improvements now or hereafter located
thereon, whether or not incurred or becoming payable under the provisions hereof
and whether as future advancements or otherwise, together with any renewals,
modifications, rearrangements, consolidations or extensions of the Note or other
indebtedness.

     16. Inspection; Management. Mortgagee and any persons authorized by
Mortgagee shall have the right after reasonable notice to enter and inspect the
Mortgaged Premises at all reasonable times. If, at any time after default by
Mortgagor in the performance of any of the terms, covenants or provisions of
this Mortgage or the Note, the management or maintenance of the Mortgaged
Premises shall be determined by Mortgagee, Mortgagor shall employ, for the
duration of such default, as managing agent of the Mortgaged Premises, any
person from time to time designated or approved by Mortgagee.

     17. Payment by Others. Any payment made in accordance with the terms of
this Mortgage by any person at any time liable for the payment of the whole or
any part of the indebtedness now or hereafter secured by this Mortgage, or by
any subsequent owner of the Mortgaged Premises, or by any other person whose
interest in the Mortgaged Premises might be prejudiced in the event of a failure
to make such payment, or by any stockholder, officer or director of a
corporation or any partner of a partnership or trustee or beneficial owner of a
trust which at any time may be liable for such payment or may own or have such
an interest in the Mortgaged Premises, shall be deemed, as between Mortgagee and
all persons who at any time may be liable as aforesaid or may own the Mortgaged
Premises, to have been made on behalf of Mortgagor.

     18. No Waiver. Any failure by Mortgagee to insist upon the strict
performance by Mortgagor of any of the terms and provisions hereof shall not be
deemed to be a waiver of any of the terms and provisions hereof, and Mortgagee,
notwithstanding any such failure, shall have the right thereafter to insist upon
the strict performance by Mortgagor of any and all of the terms and provisions
of this Mortgage to be performed by Mortgagor. Neither Mortgagor nor any other
person now or hereafter obligated for the payment of the whole or any part of
the indebtedness now or hereafter secured by this Mortgage shall be relieved of
such obligation by reason of the failure of Mortgagee to comply with any request

                                       7
<PAGE>

of Mortgagor or of any other person so obligated to take action to foreclose
this Mortgage or otherwise enforce any of the provisions of this Mortgage or of
any obligations secured by this Mortgage, or by reason of the release,
regardless of consideration, of the whole or any part of the security held for
the indebtedness secured by this Mortgage, or by reason of any agreement or
stipulation between any subsequent owner or owners of the Mortgaged Premises and
Mortgagee extending, from time to time, the time of payment or modifying the
terms of the Note or this Mortgage without first having obtained the consent of
Mortgagor or such other person, and in the latter event, Mortgagor and all such
other persons shall continue liable to make such payments according to the terms
of any such agreement of extension or modification unless expressly released and
discharged in writing by Mortgagee. Regardless of consideration, and without the
necessity for any notice to or consent by the holder of any subordinate lien on
the Mortgaged Premises, Mortgagee may release the obligation of anyone at any
time liable for any of the indebtedness secured by this Mortgage or any part of
the security held for such indebtedness and may from time to time extend the
time of payment or otherwise modify the terms of the Note and/or this Mortgage
without, as to the security for the remainder thereof, in any way impairing or
affecting the lien of this Mortgage or the priority of such lien, as security
for the payment of the indebtedness as it may be so extended or modified, over
any subordinate lien. The holder of any subordinate lien shall have no right to
terminate any lease affecting the Mortgaged Premises whether or not such lease
is subordinate to this Mortgage. Mortgagee may resort for the payment of
indebtedness hereby secured to any other security therefor held by Mortgagee in
such order and manner as Mortgagee may elect.

     19. Cumulative Remedies. The rights of Mortgagee arising under the clauses
and covenants contained in this Mortgage shall be separate, distinct and
cumulative and none of these shall be in exclusion of the other. No act of
Mortgagee shall be construed as an election to proceed under any one provision
herein to the exclusion of any other provision, anything herein or otherwise to
the contrary notwithstanding.

     20. Financial Reports. With respect to the Mortgaged Premises and
Mortgagor's operation thereof, Mortgagor agrees to keep proper books of record
and account in accordance with the requirements set forth in the Loan Agreement.
Mortgagee shall have the right to examine the books of record and account of
Mortgagor and to discuss the affairs, finances and accounts of Mortgagor and to
be informed as to the same by Mortgagor, all at such reasonable times and
intervals as Mortgagee may request. Mortgagor agrees to furnish to Mortgagee
such financial statements and other financial information regarding the
Mortgaged Premises as required under the Loan Agreement. On request, Mortgagor
will furnish convenient facilities for the audit and verification of such
statements by Mortgagee.

     21. Security Interest. This Mortgage shall also be considered to be and
shall be construed as a security agreement under the UCC with respect to any
property described herein which is not a part of the real property described
herein.

          21.1 Assembly of Collateral. Upon default hereunder and acceleration
     of the indebtedness pursuant to the provisions hereof, Mortgagee may at its
     discretion require Mortgagor to assemble the Collateral and make it
     available to Mortgagee at a place reasonably convenient to both parties to
     be designated by Mortgagee.

                                       8
<PAGE>

          21.2. Notice of Sale. Mortgagee shall give Mortgagor written notice of
     the time and place of any public sale of any of the Collateral or of the
     time after which any private sale or other intended disposition thereof is
     to be made by sending notice to Mortgagor at least five (5) days before the
     time of the sale or other disposition, which provisions for notice
     Mortgagor agrees are reasonable.

          21.3 Additional Documents. Mortgagee is authorized to file any
     financing statement, renewal affidavit, certificate, continuation
     statement, inventory or other documents that it deems necessary in order to
     protect, preserve, continue, extend or maintain the security interest under
     and the priority of this Mortgage. Mortgagor will, upon demand, pay any
     expenses incurred by Mortgagee in the preparation and filing of any such
     documents in the event such documents are necessary as a result of any
     request or other action of Mortgagor.

          22. Intentionally deleted.

     23. Bankruptcy. The entire indebtedness secured by this Mortgage shall
become and immediately be due at the option of Mortgagee if by order of a court
of competent jurisdiction a receiver or liquidator or trustee of Mortgagor or of
all or any part of the Mortgaged Premises, shall be appointed and shall not have
been discharged within sixty (60) days; or, if by decree of such court,
Mortgagor shall be adjudicated bankrupt or insolvent or the Mortgaged Premises
shall have been sequestered and such decree shall have continued undischarged
and unstayed for sixty (60) days after the entry thereof; or if Mortgagor shall
file a petition in voluntary bankruptcy or seeking relief under any provision of
any bankruptcy or insolvency law or shall consent to the filing of any
bankruptcy petition against Mortgagor under any such law; or if Mortgagor shall
file a petition or answer seeking reorganization or an arrangement with
creditors; or if (without limitation of the generality of the foregoing)
Mortgagor shall make an assignment for the benefit of creditors, or shall admit
in writing an inability to pay debts generally as they become due, or shall
consent to the appointment of a receiver, or trustee or liquidator of Mortgagor,
or of all or any part of the Mortgaged Premises.

     24. Mineral Interests. Mortgagor agrees that the making of any oil, gas or
mineral lease or the sale or conveyance of any mineral interest or right to
explore for minerals under, through or upon the Mortgaged Premises would impair
the value of the Mortgaged Premises as security for payment of the indebtedness
and that Mortgagor shall have no right, power or authority to lease the
Mortgaged Premises, or any part thereof, for oil, gas or other mineral purposes,
or to grant, assign or convey any mineral interest of any nature, or the right
to explore for oil, gas and other minerals, without first obtaining from
Mortgagee express written permission, which permission shall not be valid until
recorded. Mortgagor further agrees that if Mortgagor shall make any such lease
or attempt to grant any such mineral rights without such prior written
permission, then Mortgagee shall have the option, without notice, to declare the
same to be a default hereunder and to declare the indebtedness hereby secured
immediately due and payable. Whether or not Mortgagee shall consent to such

                                       9
<PAGE>

lease or grant of mineral rights, Mortgagee shall receive the entire
consideration to be paid for such lease or grant of mineral rights, with the
same to be applied upon the indebtedness hereby secured; provided, however, that
the acceptance of such consideration shall in no way impair the lien of this
Mortgage on the entire Mortgaged Premises and all rights therein, including all
mineral rights.

     25. Occupancy Leases. With respect to all subsisting and future leases (the
"Occupancy Leases") affecting the Mortgaged Premises, Mortgagor agrees (a) to
faithfully perform Mortgagor's covenants as lessor under the Occupancy Leases
and neither do, nor neglect to do, nor permit to be done, anything (other than
pursuing the enforcement of the terms of such leases in the exercise of the
lessor's remedies hereunder following default on the party of any lessee) which
might cause the modification or termination of any of the Occupancy Leases, or
of the obligations of any lessee or any person claiming through such lessee, or
which might diminish or impair the value of any of the Occupancy Leases or the
rents provided for therein, or the interest of Mortgagor or Mortgagee therein or
thereunder; (b) not to anticipate for more than one (1) month any rents that may
become collectible under any of the Occupancy Leases; (c) not to execute a
mortgage or create or permit a lien affecting the Mortgaged Premises which might
be or become superior to any of the Occupancy Leases; (d) to execute and deliver
to Mortgagee, within ten (10) days after request therefor, such collateral
assignments, estoppel certificates, subordination agreements, attornment
agreements and other instruments as might be required by Mortgagee with respect
to any Occupancy Leases now or hereafter affecting the Mortgaged Premises; and
(e) all representations made by Mortgagor to Mortgagee in connection with the
Occupancy Leases are and will be true and correct.

     26. Prohibited Acts. Mortgagor will not sell, convey, contract to sell,
mortgage or otherwise transfer or encumber all or any part of the Mortgaged
Premises; or sell, convey, pledge or encumber or permit the sale, conveyance,
pledge or encumbrance of any of the interests in the entity owning the Mortgaged
Premises, or change or dissolve such owning entity, except as expressly
permitted pursuant to Section 9.2 of the Loan Agreement. The occurrence of any
of the aforesaid events without Mortgagee's prior written approval, at
Mortgagee's option, shall constitute an event of default hereunder, and
Mortgagee may declare the indebtedness hereby secured immediately due and
payable and exercise any or all of Mortgagee's rights herein provided. This
provision shall apply to each and every sale, conveyance, contract to sell or
transfer, regardless of whether or not Mortgagee has consented to or waived its
rights hereunder, whether by action or inaction, in connection with any previous
sale, conveyance, contract to sell or transfer, whether one or more.

     27. Indemnity. Mortgagor agrees to indemnify and hold Mortgagee harmless
from and against and to reimburse Mortgagee with respect to, any and all claims,
demands, causes of action, loss, damage, liabilities, costs and expenses
(including attorneys' fees and court costs) of any and every kind or character,
known or unknown, fixed or contingent, asserted against or incurred by Mortgagee
at any time and from time to time by reason of or arising out of: (a) the breach
of any representation or warranty of Mortgagor set forth in this Mortgage; (b)
the failure of Mortgagor to perform any obligation herein required to be
performed by Mortgagor; and (c) the ownership, construction, occupancy,
operation, use and maintenance of the Mortgaged Premises prior to the date (the
"Release Date") on which (i) the indebtedness secured by this Mortgage has been
paid and performed in full and this Mortgage has been released, and (ii) if

                                       10
<PAGE>

Mortgagee becomes the owner of the Mortgaged Premises by way of foreclosure of
the lien hereof, deed in lieu of such foreclosure or otherwise, the Mortgaged
Premises have been sold by Mortgagee; provided, however, this indemnity shall
not apply with respect to matters caused by or arising out of the actions of
Mortgagee. All of the foregoing covenants, representations, warranties and
indemnities made by Mortgagor shall be continuing and shall be true and correct
for the period from the date hereof through and as of the Release Date with the
same force and effect as if made each day throughout such period, and all of
such covenants, representations, warranties, and indemnities shall survive the
Release Date.

     28. Fixture Filing. Certain of the Collateral is or will become fixtures on
the real estate described herein and this Mortgage, as being recorded in the
real estate records of in which the Mortgaged Premises are located, shall be
effective as a financing statement on such Mortgaged Premises which is or may
become fixtures.

     29. Cross-Default. A default by Mortgagor under this Mortgage, the Loan
Agreement, the Note or any of the other Loan Documents executed in connection
with the Loan Agreement, shall constitute a default under all such agreements,
instruments and obligations.

     30. Cross-Collateralization. This Mortgage shall specifically secure,
without limitation, the indebtedness of Mortgagor to Mortgagee pursuant to the
Note and Loan Agreement, together with all extensions, renewals, amendments,
future advances and increases of the Note and Loan Agreement as well as all
other indebtedness of the Mortgagor to Mortgagee.

     31. No Homestead. Mortgagor hereby represents, warrants, covenants and
agrees that the Mortgaged Premises do not constitute, and will not become during
the term of this Mortgage, homestead property of Mortgagor as such is defined
under applicable law.

     32. Subrogation. To the extent funds are advanced under the Note hereby
secured for the purpose of paying the indebtedness secured by any mortgage lien
having priority over the lien of this Mortgage, Mortgagee shall be subrogated to
any and all rights, superior titles, liens and equities owned or claimed by the
holder of such prior mortgage. Except with respect to the priority of any
mortgage to which Mortgagee is subrogated pursuant to the provisions hereof, the
terms and provisions of this Mortgage shall govern the rights and remedies of
Mortgagee and shall supersede the rights and remedies provided under any
mortgage to which Mortgagee is subrogated.

     33. Governmental Regulation of Mortgagee. Mortgagee is subject to various
governmental authorities and the laws, rules and regulations enacted, adopted
and promulgated by them. To the extent that Mortgagee's authority to perform its
obligations (if any) under this Mortgage, now or hereafter, may be limited or
regulated by such governmental authorities, Mortgagee is hereby excused from
such performance.

     34. Mortgagee's Failure to Perform. If Mortgagee fails to perform its
obligations (if any) under this Mortgage (except to the extent excused therefrom
as provided in paragraph 33 above), Mortgagor shall notify Mortgagee in writing
(the "Notice") within thirty (30) days after Mortgagor's obtaining knowledge of

                                       11
<PAGE>

such failure. Each such Notice shall describe in detail the act or event
constituting the non-performance by Mortgagee. Mortgagee shall have thirty (30)
days after its receipt of the Notice to cure any such failure to perform, unless
such cure cannot be accomplished using reasonable efforts within said thirty
(30) day period, in which case Mortgagee shall have such additional time as may
be necessary, using reasonable efforts, to cure such non-performance (the
"Mortgagee Cure Period").

     35. Mortgagor's Rights and Remedies. The giving of the Notice and the
expiration of the Mortgagee Cure Period shall be conditions precedent to any
right of the Mortgagor to bring an action against Mortgagee. Mortgagor hereby
expressly agrees that its sole remedy against Mortgagee in any such action shall
be that of specific performance.

     36. Governing Law. The parties hereto agree that this Mortgage shall be
construed according to the laws of the State of Oklahoma.

     37. Construction. Wherever used in this Mortgage, unless the context
clearly indicates a contrary intent or unless otherwise specifically provided
herein, the word "Mortgagor" shall mean "Mortgagor and/or any subsequent owner
or owners of the Mortgaged Premises", the word "Mortgagee" shall mean "Mortgagee
or any subsequent holder or holders of this Mortgage", the word "Note" shall
mean "the note secured by this Mortgage" and the word "person" shall mean "an
individual, corporation, partnership or unincorporated association". The
paragraph headings contained herein are included as a matter of convenience and
are not intended to define, limit or modify the terms of this Mortgage. This
Mortgage shall be binding on Mortgagor and all heirs, personal representatives,
successors and assigns of Mortgagor and inure to the benefit of Mortgagee and
all heirs, personal representatives, successors and assigns of Mortgagee.

     38. Amendment. This Mortgage cannot be changed except by an agreement in
writing signed by the party against whom enforcement of the change is sought.

     39. Special Provision - Revolving Note. Pursuant to the terms of Section
7.28.1 of the Loan Agreement, Mortgagor is entitled to borrow, pay, re-borrow
and re-pay sums advanced under the Note. Therefore, the outstanding balance of
the Note is subject to fluctuations up or down due to such advances and
re-advances of loan proceeds and/or future repayments of such loan proceeds from
time to time over the term of the Note, all of which amounts are contemplated by
Mortgagor and Mortgagee at the time this Mortgage is executed. In addition, the
outstanding principal balance of the Note may, from time to time, be reduced to
a zero balance without such repayment operating to extinguish and release the
lien and security interest created by this Mortgage. This Mortgage shall remain
in full force and effect as to any subsequent future advances made after any
zero balance it attained without loss of priority until the Note and other
secured indebtedness is paid in full and fully performed and satisfied and all
commitment of Mortgagee to make advances under the Note shall have been
terminated in whole. Mortgagor waives the operation of any applicable statute,
law or regulation having a contrary effect.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK -
                            SIGNATURE PAGE TO FOLLOW]

                                       12
<PAGE>

     IN WITNESS WHEREOF, Mortgagor has duly executed this instrument as of the
date first above written.

                             TULSA PROMENADE, LLC, a Delaware limited liability
                             company

                             By: GLIMCHER PROPERTIES LIMITED
                                 PARTNERSHIP, a Delaware limited
                                 partnership, its sole member

                                 By: GLIMCHER PROPERTIES CORPORATION,
                                     a Delaware corporation, its general partner

                                     By:__________________________________
                                        George A. Schmidt
                                        Executive Vice President

STATE OF OHIO             )
                          )
COUNTY OF FRANKLIN        )

     The foregoing instrument was acknowledged before me this _____ day of
March, 2006, by George A. Schmidt, as Executive Vice President of Glimcher
Properties Corporation, as the sole general partner of Glimcher Properties
Limited Partnership, as the sole member of Tulsa Promenade, LLC, a Delaware
limited liability company, on behalf of the limited liability company.

                                      _______________________________
                                      Notary Public

                                      My Commission Expires:_____________

                                      (Notarial Seal)

                                       13
<PAGE>

                                   Exhibit "A"
                                   -----------

                                Legal Description

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