Document:

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                                                                    EXHIBIT B

                              AMENDED AND RESTATED
                             SECURED PROMISSORY NOTE

Date of Note:           October 12, 2000

Principal Amount:       $25,000,000

Maturity Date:          September 30, 2003, subject to extension as hereinafter
                        provided

                  FOR VALUE RECEIVED, CORPORATE REALTY INCOME FUND I, L.P., a
Delaware limited partnership "Borrower"), does hereby covenant and promise to
pay to the order of FLEET NATIONAL BANK, a national banking association, or its
successors and assigns, in its capacity as Agent, for the ratable benefit of
itself and the Lenders ("Agent"), at 1133 Avenue of the Americas, New York, New
York 10036, or at such other place as Agent may designate to Borrower in writing
from time to time, in lawful money of the United States of America and in
immediately available funds, the lesser of the Principal Amount stated above and
the aggregate unpaid amount of all advances made by Lenders to Borrower pursuant
to the Loan Agreement (as hereinafter defined), together with interest thereon
in like money and funds as hereinafter provided.

              1. Definitions. The following terms, as used in this Note, shall
have the meanings indicated opposite them and terms capitalized herein and not
otherwise defined herein but defined in the Loan Agreement shall have the
meaning set forth in the Loan Agreement:

              "Applicable Rate" - means, during the period from the date hereof
through the Maturity Date, (a) the Prime Rate plus one-half of one (.50%)
percent per annum or (b) the LIBOR Rate in effect with respect to the applicable
Interest Period pursuant to the terms hereof plus two (2.00%) percent per annum.

              "Authorized Representative" - means Robert F. Gossett, Jr. or any
other person or persons designated by Borrower, in a writing delivered to Agent,
as an Authorized Representative.

              "Business Day" - means a day other than a Saturday, Sunday or
other day on which commercial banks in New York City are authorized or required
by law to close and, if the applicable day relates to a LIBOR Advance or an
interest period for a LIBOR Advance, the day on which dealings in Dollar
deposits are also carried on in the London interbank market and banks are open
for business in London..

              "Default" - means any act or condition which with the giving of
notice or the lapse of time, or both, could become an Event of Default.

              "Event of Default" - means any act or event described as a
"Default" in the Loan Agreement.

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              "Fixed Rate" shall mean the LIBOR Rate.

              "Fixed Rate Acceptance Notice" - shall have the meaning assigned
to such term in PARAGRAPH 4(b) hereof.

              "Fixed Rate Advance" - shall mean a LIBOR Advance.

              "Fixed Rate Notice" - means Borrower's telephonic notice
immediately confirmed in writing, which writing may be delivered by telecopier,
stating that Borrower, subject to delivery by it of a Fixed Rate Acceptance
Notice, elects to pay interest at the Fixed Rate and specifying the portion of
the Principal Amount which is to bear interest at the LIBOR Rate, the applicable
Interest Period for the Fixed Rate Advance and the Business Day on which such
Interest Period is to begin.

              "Interest Period" - means a period of one, two, three, six or
twelve months or of such other periods as Agent, following Borrower's request,
may elect to offer to Borrower, in each case as elected by Borrower in the Fixed
Rate Notice, provided, however, that no such period shall extend beyond the
Maturity Date. Any Interest Period which terminates on a non-Business Day shall
be deemed, for purposes hereof, to terminate on the next succeeding Business
Day.

              "LIBOR Advance" - means the whole or any portion of the Principal
Amount which bears interest at a rate based upon the LIBOR Rate, but such
portion of the Principal Amount shall be in an integral multiple of $100,000 but
in no event less than $1,000,000.

              "LIBOR Rate" - means, as applicable to a LIBOR Advance, the rate
per annum as determined on the basis of the offered rates for deposits in U.S.
Dollars, for a period of time comparable to such LIBOR Advance which appears on
the Telerate page 3750 as of 11:00 a.m. London time on the day that is two (2)
Business Days preceding the first day of such LIBOR Advance; provided, however,
if the rate described above does not appear on the Telerate System on any
applicable interest determination date, the LIBOR Rate shall be the rate
(rounded upward, if necessary, to the nearest one hundred-thousandth of a
percentage point), determined on the basis of the offered rates for deposits in
U.S. dollars for a period of time comparable to such LIBOR Advance which are
offered by four major banks in the London interbank market at approximately
11:00 a.m. London time, on the day that is two (2) Business Days preceding the
first day of such LIBOR Advance as selected by Agent. The principal London
office of each of the four major London banks will be requested to provide a
quotation of its U.S. Dollar deposit offered rate. If at least two such
quotations are provided, the rate for that date will be the arithmetic mean of
the quotations. If fewer than two quotations are provided as requested, the rate
for that date will be determined on the basis of the rates quoted for loans in
U.S. dollars to leading European banks for a period of time comparable to such
LIBOR Advance offered by major banks in New York City at approximately 11:00
a.m. New York City time, on the day that is two (2) Business Days preceding the
first day of such LIBOR Advance. In the event that Agent is unable to obtain any
such quotations as provided above, it will be deemed that LIBOR pursuant to a
LIBOR Advance cannot be determined. In the event that the Board of Governors of
the Federal Reserve System shall impose a Reserve Percentage with respect to
LIBOR deposits of a Lender, then for any period during which such Reserve
Percentage shall apply,

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LIBOR for such Lender shall be equal to the amount determined above divided by
an amount equal to 1 minus the Reserve Percentage.

              "Loan" - means the loan in the Principal Amount made to Borrower
by Lenders and evidenced hereby.

              "Loan Agreement" - means the Amended and Restated Loan Agreement
dated as of the date hereof among Borrower, Agent and Lenders, as the same may
be amended or otherwise modified from time to time.

              "Mortgage" - means all of the "Mortgages" described on EXHIBIT A
to the Loan Agreement and any other "Mortgages" hereafter encumbering an
"Additional Property" or a "Project", as any of the same may be amended or
otherwise modified from time to time.

              "Note" - this Amended and Restated Secured Promissory Note, as the
same may be amended or otherwise modified from time to time.

              "Prime Rate" - means the rate which Fleet National Bank publicly
announces from time to time as its Prime Rate. The Prime Rate shall be adjusted
from time to time when and as the Prime Rate shall change. The Prime Rate is
determined from time to time by Fleet National Bank as a means of pricing some
loans to its customers and is neither tied to any external rate of interest or
index, nor does it necessarily reflect the lowest rate of interest actually
charged by Fleet National Bank to any customer class or category of its
customers. Fleet National Bank may make commercial or other loans at rates of
interest at, above or below the Prime Rate. Any change resulting from a change
in the Prime Rate shall become effective as of the date on which Fleet National
Bank makes a change in such rate.

              "Prime Rate Advance" - means the whole or any portion of the
Principal Amount which bears interest at a rate based upon the Prime Rate.

              "Regulation D" - Regulation D of the Board of Governors of the
Federal Reserve System from time to time in effect, including any successor or
other regulation or official interpretation of said Board of Governors relating
to reserve requirements applicable to member banks of the Federal Reserve
System.

              "Reserve Percentage" - the maximum aggregate reserve requirement
(including, without limitation, all basic, marginal, emergency, supplemental,
special or other reserves and taking into account any transitional requirements)
as specified in Regulation D that Agent determines would be applicable on that
day to new nonpersonal time deposits in the United States in an amount equal to
or in excess of $100,000 with a maturity approximately equal to that of the
applicable Interest Period. The LIBOR Rate shall be adjusted automatically on
and as of the effective date of any change in the Reserve Percentage.

              "Security Documents" - shall have the meaning assigned to such
term in PARAGRAPH 10 of this Note.

              2. Interest; Loans. Interest on the outstanding Principal Amount
shall accrue from and including the date of the Advance to but excluding the
date of any repayment or pre-

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payment thereof and shall be payable in arrears (i) on the first day of each
calendar month, commencing with the month after the month in which this Note is
executed and delivered, (ii) on the date of any prepayment (on the amount
prepaid), (iii) on the Maturity Date, and (iv) after maturity (whether by
acceleration or otherwise), on demand. All interest calculations provided for
herein shall be made on the basis of a 360-day year and the actual number of
days elapsed; provided, however, that to the extent the Applicable Rate is based
upon the LIBOR Rate, monthly payments shall be calculated on the basis of thirty
day months, but applied based on the actual number of days elapsed. All
payments, when collected, shall be applied first to the payment of all fees,
expenses and other amounts due to Agent and Lenders (excluding principal and
interest) pursuant to the express terms of the Loan Agreement, this Note or any
of the other Security Documents, then to accrued interest, and the balance on
account of outstanding principal (in the inverse order of maturity); provided,
however, that after maturity payments will be applied to the obligations of
Borrower to Agent and Lenders as Agent determines in its sole discretion. If
this Note or any payment hereunder becomes due on a day which is not a Business
Day, the due date of this Note or payment shall be extended to the next
succeeding Business Day, and such extension of time shall be included in
computing interest in connection with such payment.

              3. Maturity Date. The outstanding principal of, and all accrued
interest on, the Loan shall be due and payable on September 30, 2003, unless
extended pursuant to SECTION 6.03 of the Loan Agreement.

              4. Selection of Rate. (a) Except as provided in PARAGRAPHS 4(b)
and 9, the outstanding Principal Amount shall bear interest at a rate per annum
equal to the Prime Rate plus one-half of one (.50%) per annum.

              (b) Provided there is no Default and/or Event of Default, Borrower
may elect to pay interest on the whole or any portion of the Principal Amount
(subject to the minimum amount limitations set forth herein and the requirements
set forth below) at a rate per annum equal to the LIBOR Rate in effect at any
given time pursuant to the terms hereof plus two (2.00%) percent per annum
applicable to the Interest Period elected by Borrower from (and including) the
first day of each Interest Period to (but not including) the last day of such
Interest Period. Borrower shall, subject to delivery by it of a Fixed Rate
Acceptance Notice, elect the Fixed Rate for the whole or any portion of the
outstanding Principal Amount pursuant to a Fixed Rate Notice. Agent must receive
such Fixed Rate Notice prior to 11:00 A.M., New York City time, on a Business
Day at least two (2) Business Days prior to:

                   (i) the last day of an Interest Period (in the case of an
outstanding Fixed Rate Advance); or

                   (ii) any Business Day elected by Borrower in its Fixed Rate
Notice (in the case of a conversion of a Prime Rate Advance to a Fixed Rate
Advance) for the commencement of the applicable Interest Period.

If Borrower fails to give a Fixed Rate Notice at least two (2) Business Days
prior to the end of an Interest Period, then, on the last day of the Interest
Period, the outstanding Fixed Rate Advance shall convert to a Prime Rate
Advance. On the date specified in the Fixed Rate Notice as the date on which the
applicable Interest Period is to begin, Agent shall, by 11:00 a.m., New York

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City time, notify Borrower's Authorized Representative by telephone (such notice
to be promptly confirmed in writing), which notice shall specify the date, the
proposed Fixed Rate and the period of time on such date during which such rate
is to be available. If Agent fails to specify the period for which such quoted
rate is available, then such rate shall be deemed to be available only for
thirty minutes from the time Agent, orally or in writing, notifies Borrower's
Authorized Representative of such rate. If Borrower then wishes to obtain such
Loan at such Fixed Rate, Borrower's Authorized Representative shall promptly
give notice to Agent to such effect (the "Fixed Rate Acceptance Notice"), which
notice shall be irrevocable and may be by telephone, promptly confirmed in
writing.

              (c) Without in any way limiting Borrower's obligation to confirm
in writing any telephonic Fixed Rate Notice or Fixed Rate Acceptance Notice,
Agent may, prior to receipt of written confirmation, act without liability on
the basis of telephonic notice which it believes in good faith to be from
Borrower and, in any event, Agent may act without liability on the basis of
telephonic or written notice which it believes in good faith to be from
Borrower.

              5. Payment of Interest on and Number of Fixed Rate Advances. If a
Fixed Rate Advance is outstanding, then in addition to the monthly payments of
interest required under PARAGRAPH 2(a) hereof, all accrued and unpaid interest,
if any, on such Fixed Rate Advance shall be due and payable on the last day of
the Interest Period. In no event may there be more than an aggregate of four (4)
Interest Periods in effect at any one time hereunder.

              6. Suspension of Fixed Rate. If Agent, in its sole discretion,
determines that any Lender's making or maintaining of a Fixed Rate Advance is
unlawful for any reason, then Agent, as to the affected Lender, shall suspend
the availability of the Fixed Rate and immediately convert such Lender's
outstanding Fixed Rate Advance, if any, to a Prime Rate Advance. Agent, for the
benefit of such Lender, shall immediately notify Borrower of any such conversion
and Borrower shall pay to the affected Lender, on demand, (i) all accrued and
unpaid interest on such Lender's portion of the applicable Fixed Rate Advances
to the date of such conversion, plus (ii) such amounts as the affected Lender
shall require to compensate it for the costs of converting such Lender's portion
of any such Fixed Rate Advance to a Prime Rate Advance (except that no amounts
shall be payable by Borrower under this clause (ii) if, at the commencement of
the applicable Interest Period, it was unlawful for such Lender to have made
such Fixed Rate Advance). The certificate of the affected Lender delivered to
Borrower as to any amounts payable pursuant to this PARAGRAPH shall, absent
manifest error, be final, conclusive and binding on Borrower. With respect to
the affected Lender, Fixed Rate Notices shall be given by Borrower thereafter
until Agent, as to such Lender, determines that a Fixed Rate Advance would be
lawful.

              7. Increases in Cost. In the event that at any time or from time
to time any domestic or foreign requirement of law, regulation, order or decree
or any change therein or in the interpretation or application thereof or
compliance by any Lender with any request or directive (whether or not having
the force of law) from any governmental, fiscal, monetary or other authority (i)
does or shall subject such Lender to any tax, duty, charge or withholding on or
from payments due from Borrower (excluding taxation of the income of such Lender
and excluding any such taxes, duties or withholding already taken into account
in calculating the Fixed Rate); or (ii) does or shall impose, modify or hold
applicable or change any reserve

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(including, without limitation, basic, supplemental, marginal, special or
emergency reserves but not including reserve requirements already taken into
account in calculating the Fixed Rate), special deposit, compulsory deposit or
similar requirement with respect to assets of, deposits with or for the account
of, advances or loans by, or other credit extended by, or any other acquisition
of funds by such Lender; or (iii) does or shall impose on such Lender any other
condition or change therein and the result of any of the foregoing is to
increase the cost to such Lender of making available to Borrower, converting
from or to, or maintaining Fixed Rate Advances, then, and in any such event,
Agent, following notification in writing by such Lender, shall notify Borrower
in writing of such occurrence setting forth in reasonable detail the basis for
and amounts of such increased costs, and Borrower shall pay to Agent, on behalf
of such Lender, on demand, such amounts as will compensate such Lender for such
increased costs. In such event, Borrower shall have the option of converting
(without an exchange of funds) such Lender's portion of the affected Fixed Rate
Advance to a Prime Rate Advance by notice to Agent and payment to Agent, on
behalf of such Lender, of any sums (other than the principal so converted to a
Prime Rate Advance) which would be payable to such Lender pursuant to PARAGRAPH
8 if such conversion were a prepayment. The certificate of the affected Lender
as to any amounts payable pursuant to this PARAGRAPH shall, absent manifest
error, be final, conclusive and binding on Borrower.

              8. Prepayment. (a) At any time during the term hereof that the
Applicable Rate is based upon the Prime Rate or on a date which is the last day
of an Interest Period (with respect to the whole or any portion of the Principal
Amount as to which the Interest Period is ending), upon not less than ten (10)
Business Days written notice to Agent specifying the date on which prepayment is
to be made, Borrower shall have the privilege of prepaying the unpaid balance of
the Principal Amount of this Note, in whole or in part, on any Business Day,
without payment of a premium or penalty, provided that (i) any such prepayment
shall be in a minimum amount of not less than $1,000,000 and additional integral
multiples of $100,000, and (ii) together with any such prepayment, Borrower
shall also pay any accrued and unpaid interest on the portion of Principal
Amount of this Note being so repaid to the date of prepayment and all other sums
or charges, if any, then due and owing hereunder or under the Loan Documents.

              (b)(i) Borrower shall pay to Agent, for the ratable benefit of
Lenders, upon request of Agent, such amount or amounts as shall be sufficient
(in the reasonable opinion of Agent) to compensate Lenders for any loss, cost,
or expense incurred as a result of, with respect to an actual or proposed LIBOR
Advance: (x) any payment of a LIBOR Advance on a date other than the last day of
the Interest Period for such LIBOR Advance; (y) any failure by Borrower to
borrow a LIBOR Advance on the date specified by Borrower's written notice;
and/or (z) any failure by Borrower to pay a LIBOR Advance on the date for
payment specified in Borrower's written notice. In this regard and without
limiting the foregoing, Borrower shall pay to Agent, for the ratable benefit of
Lenders, a "yield maintenance fee" in an amount computed as follows: The 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 term chosen
pursuant to the LIBOR Rate Election (as hereinafter defined) as to which the
prepayment is made, shall be subtracted from the LIBOR in effect at the time of
prepayment. If the result is zero or a negative number, there shall be no yield
maintenance fee. If the result is a positive number, then the resulting
percentage shall be multiplied by the amount of the principal balance being
prepaid. The resulting amount shall be divided by 360 and multiplied by the
number of days remaining in

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the term chosen pursuant to the LIBOR Rate Election as to which the prepayment
is made. Said amount shall be reduced to present value calculated by using the
above referenced United States Treasury securities rate and the number of days
remaining in the term chosen pursuant to the LIBOR Rate Election as to which
prepayment is made. The resulting amount shall be the yield maintenance fee due
to Lenders upon the prepayment of a LIBOR Advance. Each reference in this
paragraph to "LIBOR Rate Election" shall mean the election by Borrower of the
LIBOR Rate. If an Event of Default shall occur, then any yield maintenance fee
with respect to a LIBOR Advance shall become due and payable in the same manner
as though Borrower had exercised such right of prepayment. Absent manifest
error, Agent's calculation of the fixed rate yield maintenance premium shall be
deemed conclusive.

                   (ii) Agent shall notify Borrower of the amount and basis of
determination of such breakage fees, it being agreed that neither Agent nor any
Lender shall be obligated to have actually reinvested the prepaid amount as a
condition precedent to receiving breakage fees calculated pursuant to the
provisions of this subparagraph (b). Borrower, upon receipt of such notice and
with any such prepayment, shall remit to Agent, on behalf of Lenders, the
breakage fees.

              (c) Any acceleration of the Maturity Date pursuant to any
provisions hereof or of the Loan Documents shall be deemed a voluntary
prepayment for the purposes hereof, and if a Fixed Rate Advance is then
outstanding, Borrower shall be required, on demand, to pay the breakage fees
premium, if any, calculated as aforesaid.

              (d) The Loan and the advances hereunder are not revolving loans
and, therefore, Borrower may not borrow, repay and reborrow hereunder.

              9. Involuntary Rate; Late Charge. Overdue principal and, to the
extent permitted by law, overdue interest and all other overdue amounts owing
hereunder, whether at maturity, upon acceleration or otherwise, shall bear
interest for each day that such amounts are overdue (whether or not any required
notice of default shall have been given) at a rate per annum equal to four
(4.0%) percent per annum in excess of the Applicable Rate in effect from time to
time (such rate the "Involuntary Rate"). In addition, any payment, whether of
principal (other than the principal due upon maturity, whether by acceleration
or otherwise) or interest, not received by Agent within ten (10) days after the
date it is due shall be assessed a late charge of four (4.0%) percent of the
overdue payment (such charge, the "Late Charge"), and such Late Charge shall be
due on demand. Agent's right, on behalf of Lenders, to receive interest at the
Involuntary Rate and any Late Charge pursuant to this PARAGRAPH shall be in
addition to all other rights and remedies provided herein or by law for the
benefit of the holder hereof upon a default; and the acceptance of the same by
the holder hereof shall not restrict such holder in any respect in the exercise
of any other or further right or remedy, nor shall the same be deemed to be, as
to the holder hereof, a waiver or release of Borrower from any of its
obligations herein contained or constitute an extension of the time for payments
due hereunder.

              10. Security. This Note is secured by the Mortgages and all other
documents or agreements or hazardous substance indemnities (including any
amendment, modification, extension or renewal thereof) now or hereafter executed
in connection herewith are collectively

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referred to herein as the "Security Documents." This Note is entitled to the
benefits of the Security Documents.

              11. Acceleration. It is hereby expressly agreed that the entire
unpaid balance of the Principal Amount shall, at the option of the Majority
Lenders, become immediately due and payable without necessity for presentment
and demand, notice of protest, demand and dishonor or nonpayment of this Note,
all of which are hereby expressly waived, upon the happening of any Event of
Default or any event by which, under the terms of the Security Document(s), said
unpaid balance may or shall become due and payable. Failure to exercise any such
option at any time shall not constitute a waiver of the right of the holder
hereof to exercise the same in the event of any subsequent default or
acceleration event.

              12. Notices. Except as otherwise provided herein, any notice to be
given hereunder shall be given as provided in the Loan Agreement.

              13. Funding Sources. Nothing contained herein shall be deemed to
obligate any Lender or Agent to fund advances hereunder in any particular place
or manner; and nothing contained herein shall be deemed to constitute a
representation by any Lender or Agent that it has funded or will fund advances
in any particular place or manner.

              14. Taxes and Attorneys' Fees. Borrower shall pay to Agent, for
the ratable benefit of Lenders, immediately upon demand, any and all taxes
assessed against any Lender by reason of the Agent's holding of this Note and
the receipt by it of interest payments hereunder (other than income, franchise
and other similar taxes assessed by the United States Government, any state or
any political subdivision of either thereof on such interest payments), and any
and all other sums and charges that may at any time become due and payable under
the Security Document(s). Borrower shall pay on demand all expenses of Agent in
connection with the preparation, administration, default, collection, waiver or
amendment of Loan terms, or in connection with Agent's exercise, preservation,
administration or enforcement of any of its rights, remedies or options
hereunder or under any of the other Security Documents, including, without
limitation, fees of outside legal counsel, accounting, consulting, brokerage or
other similar professional fees or expenses, and any fees or expenses associated
with travel or other costs relating to any appraisals or examinations conducted
in connection with the Loan or any collateral therefor, and the amount of all
such expenses shall, until paid, bear interest at the rate applicable to
principal hereunder (including any default rate) and be an obligation secured by
any collateral.

              15. No Partnership or Joint Venture. Nothing contained in this
Note or elsewhere shall be deemed or construed as creating a partnership or
joint venture between any Lender or Agent and Borrower or between any Lender or
Agent and any other person, or cause the holder hereof to be responsible in any
way for the debts or obligations of Borrower or any other person.

              16. Waiver. Borrower hereby waives diligence, presentment, protest
and demand, notice of protest, dishonor and nonpayment of this Note, and
expressly agrees that, without in any way affecting the liability of Borrower
hereunder, Lenders and/or Agent may extend the Maturity Date or the time for
payment of any amount due hereunder, accept additional

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security, release any party liable hereunder and release any security now or
hereafter securing this Note without in any other way affecting the liability
and obligation of Borrower or any other Person. Borrower further waives, to the
full extent permitted by law, the right to plead any and all statutes of
limitations as a defense to any demand on this Note, under the Security
Document(s), or on any other agreement now or hereafter securing this Note.

              17. Interest Rate Limitation. All agreements among Borrower and
Lenders are hereby expressly limited so that in no contingency or event
whatsoever, whether by reason of acceleration of maturity of the indebtedness
evidenced hereby or otherwise, shall the amount paid or agreed to be paid to
Lenders for the use or the forbearance of the indebtedness evidenced hereby
exceed the maximum permissible under applicable law. As used herein, the term
"applicable law" shall mean the law in effect as of the date hereof; provided,
however, that in the event there is a change in the law which results in a
higher permissible rate of interest, then this Note shall be governed by such
new law as of its effective date. In this regard, it is expressly agreed that it
is the intent of Borrower and Lenders in the execution, delivery and acceptance
of this Note to contract in strict compliance with the laws of the State of New
York from time to time in effect. If, under or from any circumstances
whatsoever, fulfillment of any provision hereof or of any of the Security
Documents at the time of performance of such provision shall be due, shall
involve transcending the limit of such validity prescribed by applicable law,
then the obligation to be fulfilled shall automatically be reduced to the limits
of such validity, and if under or from any circumstances whatsoever Lenders
should ever receive as interest an amount which would exceed the highest lawful
rate, such amount which would be excessive interest shall be applied to the
reduction of the Principal Amount and not to the payment of interest and if the
Principal Amount is no longer outstanding, such excess shall be paid to the
Person (as such term is defined in the Loan Agreement) lawfully entitled
thereto. This provision shall control every other provision of all agreements
among Borrower and Lenders.

              18. Severability. Every provision of this Note is intended to be
severable. In the event any term or provision hereof is declared by a court of
competent jurisdiction to be illegal or invalid for any reason whatsoever, such
illegality or invalidity shall not affect the balance of the terms and provision
hereof, which terms and provisions shall remain binding and enforceable.

              19. Number and Gender. In this Note the singular shall include the
plural and the masculine shall include the feminine and neuter gender, and vice
versa, if the context so requires.

              20. Headings. Headings at the beginning of each numbered paragraph
of this Note are intended solely for convenience of reference and are not to be
deemed or construed to be a part of this Note.

21. Governing Law; Submission to Jurisdiction; Waivers, Etc.

              (a) This Note, together with the Loan Agreement and the Security
Documents, sets forth the entire understanding of Borrower, Lenders and Agent
with respect to the subject matter hereof, and this Note and the Loan Agreement
shall be governed by and construed and

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enforced in accordance with the laws (without giving effect to the conflict
of law principles thereof) of the State of New York.

              (b) Borrower hereby irrevocably submits to the non-exclusive
jurisdiction of any New York State or Federal court sitting in New York County
over any suit, action or proceeding arising out of or relating to this Note, and
Borrower hereby agrees and consents that, in addition to any methods of service
of process provided for under applicable law, all service of process in any such
suit, action or proceeding in any New York State or Federal court sitting in New
York County may be made by certified or registered mail, return receipt
requested, directed to Borrower at its address for notices under the Loan
Agreement, and service so made shall be complete five (5) days after the same
shall have been so mailed. Borrower also waives (a) in the event of any
litigation to which Agent, any Lender and/or Borrower are parties in respect of
any matter arising under this Note, the Loan Agreement or any of the Security
Documents, whether or not such litigation has been commenced in respect of this
Note, the Loan Agreement or any of the Security Documents and whether or not
other persons are also parties thereto, the right to interpose any counterclaim
therein (other than a mandatory counterclaim), (b) the right to have the same
consolidated with any other or separate suit, action or proceeding, (c) any
claim that New York County or such District is an inconvenient forum and (d) any
claim against Agent or any Lender for consequential, special or punitive damages
respecting the Loan Documents.

              (c) No delay on the part of Agent or any Lender in exercising any
of its options, powers or rights, or partial or single exercise thereof, whether
arising hereunder, under the Loan Agreement or under the Security Documents or
otherwise, shall constitute a waiver thereof or affect any right hereunder or
thereunder. No waiver of any of such rights and no modification, amendment or
discharge of this Note shall be deemed to be made unless the same shall be in
writing, duly signed by Agent and Borrower. Each such waiver (if any) shall
apply only with respect to the specific instance involved and shall in no way
impair the rights of Agent or any Lender or the obligations of Borrower
hereunder in any other respect at any other time.

(d) BORROWER, AGENT AND EACH
LENDER (BY ACCEPTANCE OF THIS NOTE) MUTUALLY HEREBY KNOWINGLY, VOLUNTARILY AND
INTENTIONALLY WAIVE THE RIGHT TO A TRIAL BY JURY IN RESPECT OF ANY CLAIM BASED
HEREON, ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS NOTE OR ANY OTHER LOAN
DOCUMENTS EXECUTED IN CONNECTION HEREWITH OR ANY COURSE OF CONDUCT, COURSE OF
DEALINGS, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY,
INCLUDING, WITHOUT LIMITATION, ANY COURSE OF CONDUCT, COURSE OF DEALINGS,
STATEMENTS OR ACTIONS OF AGENT OR ANY LENDER RELATING TO THE ADMINISTRATION OF
THE LOAN OR ENFORCEMENT OF THE LOAN DOCUMENTS, AND AGREE THAT NEITHER PARTY WILL
SEEK TO CONSOLIDATE ANY SUCH ACTION WITH ANY OTHER ACTION IN WHICH A JURY TRIAL
CANNOT BE OR HAS NOT BEEN WAIVED. EXCEPT AS PROHIBITED BY LAW, BORROWER HEREBY
WAIVES ANY RIGHT BORROWER MAY HAVE TO CLAIM OR RECOVER IN ANY LITIGATION ANY
SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES OR ANY DAMAGES OTHER THAN,
OR IN ADDITION TO, ACTUAL DAMAGES. BORROWER CERTIFIES THAT NO REPRESENTATIVE,
AGENT OR ATTORNEY OF AGENT OR ANY LENDER HAS REPRESENTED, EXPRESSLY OR
OTHERWISE, THAT AGENT OR ANY

                                       10
<PAGE>

LENDER WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING
WAIVER. THIS WAIVER CONSTITUTES A MATERIAL INDUCEMENT FOR LENDERS TO ACCEPT THIS
NOTE AND MAKE THE LOAN AND FOR AGENT TO SERVE AS AGENT.

              22. Set-off. Borrower hereby grants to Agent and each Lender, a
continuing lien, security interest and right of setoff as security for all
liabilities and obligations of Borrower to Agent and Lenders, whether now
existing or hereafter arising, upon and against all deposits, credits,
collateral and property, now or hereafter in the possession, custody,
safekeeping or control of Agent or any Lender or any entity under the control of
FleetBoston Financial Corporation and its successors and assigns or in transit
to any of them. At any time allowed by law without demand or notice (any such
notice being expressly waived by Borrower), Agent and each Lender may setoff the
same or any part thereof and apply the same to any liability or obligation of
Borrower under the Loan Agreement, this Note or the Security Documents even
though unmatured and regardless of the adequacy of any other collateral securing
the Loan. ANY AND ALL RIGHTS TO REQUIRE AGENT OR ANY LENDER TO EXERCISE ITS
RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE LOAN,
PRIOR TO EXERCISING ITS RIGHTS OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS
OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY
WAIVED.

              23. Grid Note. Borrower authorizes Agent to record on SCHEDULE I
annexed hereto the information with respect to the initial advance under this
Note and any payments and prepayments of the Principal Amount made by Borrower
and such notations shall be presumed to be correct and binding subject to
rebuttal by Borrower only by clear and convincing evidence; provided, however,
that the failure of Agent to make any such notation shall not limit or otherwise
affect the obligation of Borrower to repay the Principal Amount nor alter or
impair any of the other obligations of Borrower hereunder, under the Loan
Agreement or under the Security Documents.

              24. Miscellaneous. (a) This Note may not be changed orally but
only by an agreement in writing signed by the parties required by SECTION 9.02
of the Loan Agreement.

              (b) Should the indebtedness represented by this Note or any part
thereof be collected at law or in equity, or in bankruptcy, receivership or any
other court proceedings (whether at the trial or appellate level), or should
this Note be placed in the hands of attorneys for collection upon default,
Borrower agrees to pay, in addition to the principal, premium, interest and
other sums due and payable hereon, all costs of collection or attempting to
collect this Note, including reasonable attorneys' fees and expenses.

              25. Limitation on Maker's Liability. The provisions of SECTION
6.16 of the Loan Agreement are hereby incorporated herein by reference.

              26. Amendment and Restatement of Original Note. This Note amends,
restates and supersedes in its entirety that certain Secured Promissory Note
dated September 26, 1996, as amended by a First Amendment of Loan Agreement and
Note dated as of December 6, 1996 and a Third Amendment of Loan Agreement and
Second Amendment of Note dated as of

                                       11
<PAGE>

September 25, 1998 (the "Original Note"). However, any interest which has
accrued and is unpaid on the Original Note as of the date hereof shall be deemed
to be evidenced by this Note and shall be due and payable on the earlier of
November 1, 2000 and an Event of Default.

              27. Use of Proceeds. No portion of the proceeds of the Loan shall
be used, in whole or in part, for the --------------- purpose of purchasing or
carrying any "margin stock" as such term is defined in Regulation U of the Board
of Governors of the Federal Reserve System.

              28. Replacement of Promissory Note. Upon receipt of an affidavit
of Agent as to the loss, theft, destruction or mutilation of the Note or any
other security document which is not of public record, and, in the case of any
such loss, theft, destruction or mutilation, upon cancellation of such Note or
other security document, Borrower will issue, in lieu thereof, a replacement
note or other security document in the same principal amount thereof and
otherwise of like tenor.

              29. Pledge to Federal Reserve. Each Lender may at any time pledge
or assign all or any portion of its rights under the Loan Documents (including
this Note) to any of the twelve (12) Federal Reserve Banks organized under
Section 4 of the Federal Reserve Act, 12 U.S.C. Section 341. No such pledge or
assignment or enforcement thereof shall release such pledging or assigning
Lender from its obligations under any of the Loan Documents.

                                       12
<PAGE>

                  IN WITNESS WHEREOF, Borrower has executed and delivered this
Note on the day and year first above written.

                                       CORPORATE REALTY INCOME FUND I, L.P.

                                       By:
                                          --------------------------------------
                                          Robert F. Gossett, Jr.,
                                          General Partner

                                       By: 1345 REALTY CORPORATION,
                                           General Partner

                                       By:
                                          --------------------------------------
                                          Robert F. Gossett, Jr.,
                                          President

AGREED AND ACCEPTED:

FLEET NATIONAL BANK, as Agent and as Sole Lender

By:
   ---------------------------------------------
   Title:  Senior Vice President

                                       13
<PAGE>

                                   SCHEDULE I

                              AMENDED AND RESTATED
                             SECURED PROMISSORY NOTE

                   SCHEDULE OF PRIME RATE AND LIBOR RATE LOANS
                    AND PAYMENTS OR CONVERSIONS OF PRINCIPAL
                    MADE PURSUANT TO THE AMENDED AND RESTATED
                  SECURED PROMISSORY NOTE OF EVEN DATE HEREWITH
                     BY CORPORATE REALTY INCOME FUND I, L.P.
                      AS BORROWER, TO FLEET NATIONAL BANK,
                  AS AGENT, FOR THE RATABLE BENEFIT OF LENDERS

<TABLE>
<CAPTION>
                        Character of       Last Day of           Amount Paid -
                        Loan (Prime Rate   Interest Period,      Pre-paid or           Unpaid Principal      Notation
Date                    or LIBOR Rate      If Applicable         Converted             Balance               Made By
----                       ----------      ---------------       -----------           ----------------      -------
<S>                     <C>                <C>                   <C>                   <C>                   <C>
----------------------- ------------------ --------------------- --------------------- --------------------- --------------------

----------------------- ------------------ --------------------- --------------------- --------------------- --------------------

----------------------- ------------------ --------------------- --------------------- --------------------- --------------------

----------------------- ------------------ --------------------- --------------------- --------------------- --------------------

----------------------- ------------------ --------------------- --------------------- --------------------- --------------------

----------------------- ------------------ --------------------- --------------------- --------------------- --------------------

----------------------- ------------------ --------------------- --------------------- --------------------- --------------------

----------------------- ------------------ --------------------- --------------------- --------------------- --------------------

----------------------- ------------------ --------------------- --------------------- --------------------- --------------------

----------------------- ------------------ --------------------- --------------------- --------------------- --------------------

----------------------- ------------------ --------------------- --------------------- --------------------- --------------------

----------------------- ------------------ --------------------- --------------------- --------------------- --------------------
</TABLE>

                                       14<PAGE>

Section:
Block:
Lots:
County: Dallas

                                                 Date:    As of October 12, 2000

             SECOND AMENDMENT TO DEED OF TRUST, ASSIGNMENT OF RENTS,
                      SECURITY AGREEMENT AND FIXTURE FILING

                                 by and between

                      CORPORATE REALTY INCOME FUND I, L.P.

                                   ("Trustor")

                               having an office at
                                475 Fifth Avenue
                                   21st Floor
                            New York, New York 10017

                                       and

                          FLEET NATIONAL BANK, AS AGENT

                         having its principal office at
                           1133 Avenue of the Americas
                            New York, New York 10036

                                 ("Beneficiary")

         This instrument prepared by, and after recording please return to:

                                 Loeb & Loeb LLP
                                 345 Park Avenue
                          New York, New York 10154-0037
                                        Attention: Kenneth D. Freeman, Esq.

<PAGE>

             SECOND AMENDMENT TO DEED OF TRUST, ASSIGNMENT OF RENTS,
                      SECURITY AGREEMENT AND FIXTURE FILING

SECOND AMENDMENT TO DEED OF TRUST, ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND
FIXTURE FILING dated as of October 12, 2000 (as the same may be amended or
otherwise modified from time to time, this "Amendment") by and between CORPORATE
REALTY INCOME FUND I, L.P., a Delaware limited partnership (the "Trustor"),
having an office at 475 Fifth Avenue, 21st Floor, New York, New York 10017 and
FLEET NATIONAL BANK, a national banking association and successor to FLEET BANK,
NATIONAL ASSOCIATION (the "Beneficiary"), as Agent, having an office at 1133
Avenue of the Americas, New York, New York 10036.

                                   WITNESSETH

                  WHEREAS, the Trustor executed and delivered to JAMES E. MIRMAN
(the "Trustee"), for the benefit of Fleet Bank, National Association, as Lender,
that certain Deed of Trust, Assignment of Rents, Security Agreement and Fixture
Filing dated September 26, 1996 (as heretofore amended and as the same may
further be amended or otherwise modified from time to time, the "Trust Deed")
covering all of the Trustor's estate in and to all that tract or parcel of land
situate, lying and being in the County of Dallas, State of Texas, and more
particularly described in Exhibit A annexed to and made a part of this
Amendment;

                  WHEREAS, the Trust Deed was recorded in Volume 96192, Page
4690, Deed of Trust Records of Dallas County, Texas (the "Deed Records");

                  WHEREAS, the Trustor and Fleet Bank, National Association, as
Lender, are also parties to a Loan Agreement dated as of September 26, 1996 (as
the same may be amended or otherwise modified from time to time, the "Loan
Agreement") and, pursuant to the Loan Agreement, the lenders thereunder agreed
to lend up to $24,000,000 to the Trustor, and, to evidence such loans, the
Trustor executed and delivered to the Beneficiary the Note;

                  WHEREAS, payment of the indebtedness of the Trustor evidenced
by the Note is secured by the Trust Deed;

                  WHEREAS, the Trustor and Fleet Bank, National Association, as
Lender, entered into a First Amendment to the Loan Agreement and Note dated as
of December 6, 1996 (as the same may be amended or otherwise modified from time
to time, the "First Amendment") for the purpose, among others, of increasing the
principal amount of the Note from $24,000,000 to $44,000,000, and as a condition
precedent to the effectiveness of the First Amendment, such parties entered into
a First Amendment to the Trust Deed, amending the Trust Deed and reconfirming
the provisions thereof;

                                       2
<PAGE>

                  WHEREAS, Fleet Bank, National Association assigned the Trust
Deed to the Beneficiary pursuant to an assignment dated March 26, 1997 and
recorded on April 7, 1997 at Volume 97067, Page 1187 in the Deed Records;

                  WHEREAS, the Trustor, as Borrower, and Fleet Bank, National
Association and other parties, as Lenders, entered into a Third Amendment to the
Loan Agreement and Note dated as of September 25, 1998 (as the same may be
amended or otherwise modified from time to time, the "Third Amendment") for the
purpose, among others, of increasing the principal amount of the Note from
$44,000,000 to $49,000,000;

                  WHEREAS, the Trustor and the Beneficiary (in its capacity as
agent and as sole lender) are simultaneously entering into an Amended and
Restated Loan Agreement (as the same may be amended or otherwise modified from
time to time, the "Amended Loan Agreement") and an Amended and Restated Secured
Promissory Note (as the same may be amended or otherwise modified from time to
time, the "Amended Note") for the purpose, among others, of decreasing the
principal amount of the Note from $49,000,000 to $25,000,000; and

                  WHEREAS, it is a condition precedent to the effectiveness of
the Amended Loan Agreement and the Amended Note that each of the parties hereto
shall have executed and delivered this Amendment, thereby amending the Trust
Deed and each of the parties hereto is willing to do so.

                  NOW, THEREFORE, the parties to this Amendment hereby agree as
follows:

                  1. All capitalized terms used herein without definition and
which are defined in the Trust Deed are used herein with the meanings assigned
to such terms in the Trust Deed.

                  2. The description in the Trust Deed to the Note being in the
principal amount of $24,000,000, as subsequently amended by the First Amendment
to the Trust Deed so that all of such references became references to a Note in
the principal amount of $44,000,000, are hereby further amended so that all of
such references shall be to a Note in the principal amount of $25,000,000.

                  3. All references in the Trust Deed to the Note shall
hereafter be deemed to be references to the Amended Note and all references in
the Trust Deed to the Loan Agreement shall hereafter be deemed to be references
to the Amended and Restated Loan Agreement.

                  4. The term "Peg Rate" in the Trust Deed is hereby changed to
"Prime Rate" and shall have the meaning assigned to such term in the Amended
Note.

                  5. The definition of "Permitted Encumbrances" in the Trust
Deed is hereby amended to mean each of the exceptions to coverage set forth in
Schedule B of that certain Preliminary Title Report dated October ___, 2000
issued by Chicago Title Insurance Company to and accepted by the Beneficiary
with respect to the Premises and such other items as the Beneficiary in its sole
discretion, may approve in writing.

                  6. In Section 2.5.6 and Section 4.2.2 of the Trust Deed, the
references to a Debt Service Coverage Ratio of not less than 1.4:1.0 are hereby
amended so that such references shall be to a Debt Service Coverage Ratio of not
less than 1.5:1.0.

                  7. The granting clauses of the Trust Deed are hereby restated
in their entirety and incorporated herein and the Trustor hereby ratifies and
restates such granting clauses as incorporated herein.

                                       3
<PAGE>

                  8. The Trust Deed, as modified by this Amendment, and all
covenants of the Trustor made in the Trust Deed are hereby ratified and
confirmed by the Trustor in all respects, and the Trust Deed, as so modified,
shall continue in full force and effect in accordance with its terms.

                  IN WITNESS WHEREOF, each of the parties has caused these
presents to be signed and attested, all as of the day and year first above
written.

ATTEST:                                     CORPORATE REALTY INCOME FUND I, L.P.

                                            By:
-------------------------------                ---------------------------------
                                               Robert F. Gossett, Jr.
                                               General Partner

                                            By: 1345 Realty Corporation
                                                General Partner

                                            By:
                                               ---------------------------------
                                               Robert F. Gossett, Jr., President

ATTEST:                                     FLEET NATIONAL BANK, AS AGENT

                                            By:
-------------------------------                ---------------------------------
                                               Name:    James E. Mirman
                                               Title:   Senior Vice President

                                       4
<PAGE>

STATE OF NEW YORK          )

                           )       ss.:

COUNTY OF NEW YORK         )

         On the ____ day of October in the year 2000 before me, the undersigned,
personally appeared Robert F. Gossett, Jr., personally known to me or proved to
me on the basis of satisfactory evidence to be the individual whose name is
subscribed to the within instrument and acknowledged to me that he executed the
same in his capacity, and that by his signature on the instrument, the
individual, or the person upon behalf of which the individual acted, executed
the instrument.

---------------------------------
Signature and Office of individual
taking acknowledgment

STATE OF NEW YORK          )

                           )       ss.:

COUNTY OF NEW YORK         )

         On the ____ day of October in the year 2000 before me, the undersigned,
personally appeared James E. Mirman, personally known to me or proved to me on
the basis of satisfactory evidence to be the individual whose name is subscribed
to the within instrument and acknowledged to me that he executed the same in his
capacity, and that by his signature on the instrument, the individual, or the
person upon behalf of which the individual acted, executed the instrument.

---------------------------------
Signature and Office of individual
taking acknowledgment

                                       5

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