Document:

Instrument Prepared By And
 When Recorded Return To:
 Bryan Cave LLP
 One Atlantic Center, 14th Floor
 1201 W. Peachtree Street, NW
 Atlanta, GA  30309-3488
 Attention: Johnny D. Latzak, Jr., Esq.
  
 NOTICE OF CONFIDENTIALITY RIGHTS:  IF YOU ARE A NATURAL PERSON, YOU MAY REMOVE OR STRIKE ANY OR ALL OF THE FOLLOWING INFORMATION FROM ANY INSTRUMENT THAT TRANSFERS AN INTEREST IN REAL PROPERTY BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS:  YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER'S LICENSE.
  
 ASSIGNMENT OF RENTS AND LEASES
  
  
 THIS ASSIGNMENT OF RENTS AND LEASES (“Assignment”) is made and entered into as of _____________, 2014 by HARTMAN MITCHELLDALE BUSINESS PARK, LLC, a Texas limited liability company (“Assignor”), with the address of c/o Hartman Short Term Income Properties XX, Inc., 2909 Hillcroft, Suite 420, Houston, Texas 77057, for the benefit of SECURITY LIFE OF DENVER INSURANCE COMPANY, a Colorado corporation (“Assignee”), with the address of c/o Voya Investment Management LLC, 5780 Powers Ferry Road, NW, Suite 300, Atlanta, Georgia 30327-4349.
  
 WITNESSETH:
  
 WHEREAS, Assignor has executed and delivered to Assignee a Promissory Note dated on or about this same date in the original principal amount of TWELVE MILLION SEVEN HUNDRED TWENTY-FIVE THOUSAND AND NO/100 DOLLARS ($12,725,000.00) (the “Note”), performance of which is secured, among other things, by a Deed of Trust, Security Agreement, Financing Statement and Fixture Filing (the “Mortgage”), which Mortgage encumbers certain real estate described in Exhibit “A”, attached hereto and hereby made a part hereof, and improvements thereon (together, the “Premises”); and

  WHEREAS, as a condition to Assignee’s obligation to make the loan evidenced by the Note and secured by the Mortgage (and any extensions and/or modifications thereof) and made pursuant to or in connection with and secured by other documents, including, but not limited to, any financing statements naming Assignor as debtor and Assignee as secured party (this Assignment, the Note, the Mortgage, that certain Loan Agreement dated of even date herewith by and between Assignor and Assignee, and such other documents are sometimes hereinafter collectively referred to as the “Loan Documents”), Assignor has agreed to absolutely and uncon­ditionally assign to Assignee all of Assignor’s rights under and title to various leases affecting the Premises, including Assignor’s rights in and title to the rents therefrom, subject only to the terms and conditions herein set forth.
  
 NOW THEREFORE, in consideration of the foregoing recitals and other good and valuable considera­tion, the receipt and sufficiency of which are hereby ack­nowledged, and intending to be legally bound, Assignor hereby agrees as follows:
  
 1.                  Assignment of Leases.  Assignor hereby presently assigns, transfers, grants, bargains, sells and conveys unto Assignee, its successors and assigns, all leasehold estates of Assignor, as lessor, and all right, title and interest of Assignor in, to and under all existing and future leases, subleases, license agreements, concessions, tenancies and other use or occupancy agreements, whether oral or written, covering or affecting any or all of the Premises and all agreements for any use of, all or any part of the Premises, the buildings, fixtures and other improvements located thereon (“Improvements”), and all extensions, renewals and guaranties thereof and all amendments and supplements thereto (collectively, the “Leases”), including without limitation the following: 
  
 (a)                any and all rents, revenues, issues, income, royalties, receipts, profits, contract rights, accounts receivable, general intangibles, and other amounts now or hereafter becoming due to Assignor in connection with or under the Leases (whether due for the letting of  space, for services, materials or installations supplied by Assignor or for any other reason whatsoever), including without limitation all “Rents” as defined in Chapter 64 of the Texas Property Code and all insurance, tax and other contributions, insurance proceeds, condemnation awards, damages following defaults by tenants under the Leases (“Tenants”), cash or securities deposited by Tenants to secure performance of their obligations under the Leases, and all other extraordinary receipts, and all proceeds thereof, both cash and non‐cash (all of the foregoing being hereinafter collectively called the “Rents”) and all rights to direct the payment of, make claim for, collect, receive and receipt for the Rents; 
  
 (b)               all claims, rights, privileges and remedies on the part of Assignor, whether arising under the Leases or by statute or at law or in equity or otherwise, arising out of or in connection with any failure by any Tenant to pay the Rents or to perform any of its other obligations under its Lease; 
  
 (c)                all rights, powers and privileges of Assignor to exercise any election or option or to give or receive any notice, consent, waiver or approval under or with respect to the Leases; and
  
 (d)               all other claims, rights, powers, privileges and remedies of Assignor under or with respect to the Leases, including without limitation the right, power and privilege (but not the obligation) to do any and all acts, matters and other things that Assignor is entitled to do thereunder or with respect thereto.
  
 2.                  Purpose of Assignment; Security.  This Assignment is made for the purpose of securing Assignor’s full and faithful (a) payment of the indebtedness (including any extensions or renewals thereof) evidenced by the Note, (b) payment of all other sums with interest thereon becoming due and payable to Assignee under the provisions of the Mortgage or any other Loan Documents, and (c) performance and discharge of each and every term, covenant and condition contained in the Note, Mortgage, or any of the other Loan Documents.  This Assignment is intended to be a present assignment and security interest in all Rents pursuant to Chapter 64 of the Texas Property Code and Assignee shall have all rights and remedies available to it at law or in equity, including, without limitation, all rights and remedies available to Assignee under said Chapter 64, subject to Assignee’s compliance with said Chapter 64.
  
 3.                  Assignor’s Covenants.  Assignor covenants and agrees with Assignee as follows:
 (a)                That the sole ownership of the entire lessor’s interest in the Leases and the Rents is, and as to future Leases shall be, vested in Assignor, and that Assignor has not, and shall not, perform any acts or execute any other instruments which might prevent Assignee from fully exercising its rights under any of the terms, covenants and conditions of this Assignment.
  
 (b)               That the Leases are and shall be valid and enforce­able against the respective lessees thereunder in accordance with their terms and have not been altered, modified, amended, terminated, cancelled, renewed or surrendered nor have any Rents thereunder been collected more than one month in advance nor have any of the terms and conditions thereof been waived in any manner whatsoever except as approved in writing by Assignee or as permitted in the Mortgage.
  
 (c)                That none of the Leases entered into prior to the date hereof, unless such Lease is by its express terms subordinated to the Mortgage, shall be altered, modified, amended, terminated, cancelled, extended, renewed or surrendered, nor any term or condition thereof waived, nor shall Assignor consent to any assignment or sub­letting by any lessee thereunder without the prior written approval of Assignee.  Notwithstanding the above, in no event shall any Lease for which Assignee has executed a subordination, non-disturbance and attornment agreement be altered, modified, amended, terminated, cancelled, extended, renewed or surrendered, nor any term or condition thereof waived, nor shall Assignor consent to any assignment or subletting by any lessee thereunder, without the prior written approval of Assignee.  Under no Lease will any Rents be abated or collected more than one month in advance.
  
                         Without in any way limiting the requirement of Assignee’s prior written approval hereunder, any sums received by Assignor in consideration of any termination (or release or discharge of any lessee) of any Lease shall be held by Assignee and, provided no Event of Default (as hereinafter defined) exists, made available to Assignor for the payment of tenant improvement costs and leasing commissions to re-let the applicable vacated space and any such sums received by Assignor shall be held in trust by Assignor for such purpose.  Any such amounts which are not used to pay tenant improvement costs and leasing commissions in connection with the re-letting of such space within a reasonable period of time after the receipt thereof shall be applied by Assignee, without the payment of any otherwise applicable Prepayment Premium (as defined in the Note), to reduce the then outstanding principal amount of the Indebtedness (as is defined in the Mortgage).
  
 (d)               That, to the best of Assignor’s knowledge, there are no defaults now existing under any of the Leases and there exists no state of facts which, with the giving of notice or lapse of time or both, would constitute a default under any of the Leases.
  
 (e)                That Assignor shall give prompt notice to Assignee of any written notice received by Assignor claiming that a default has occurred under any of the Leases on the part of the Assignor, together with a complete copy of any such notice.
  
 (f)                That Assignor will not permit any Lease to become subordinate to any lien other than the lien of the Mortgage.
  
 (g)               That there shall be no merger of the Leases, or any of them, by reason of the fact that the same person may acquire or hold directly or indirectly the Leases, or any of them, as well as the fee estate in the Premises or any interest in such fee estate.
  
 4.                  Absolute Assignment/License to Collect Rents.  This Assignment is entered into for the purpose of absolutely assigning the Leases and the Rents to Assignee as additional collateral for the loan evidenced by the Note and such Assignment is choate on the date hereof.  Notwithstanding the foregoing, so long as no uncured Event of Default, as hereinafter defined, shall exist, Assignor shall have a license, terminable by the Assignee upon any Event of Default, to collect the Rents accruing from the Premises on or after, but in no event more than one (1) month in advance of, the respective dates set forth in the Leases on which the Rents become due (provided that in no event shall Assignor be permitted to enter into any Lease which makes rent due earlier than one (1) calendar month in advance of the current month (except for the last month’s rent or security deposit)), and to hold the Rents as a trust fund for the uses and purposes more particularly described in the Mortgage.  Upon the occurrence of an Event of Default, the license granted to the Assignor shall be automatically and immediately revoked without notice to the Assignor.  Upon the revocation of such license the Assignee may at its option exercise its rights under Chapter 64 of the Texas Property Code to give Tenants a written notice (a “Tenant Notice”) requesting the Tenants to pay all Rents and other amounts due under the Leases directly to Assignee and to perform any of the Tenants’ respective obligations under the Leases for the benefit of Assignee.  
  
 5.                  Assignee’s Powers and Rights.  At any time during the term of the Note or the Mortgage, Assignee may, at its option upon or after an Event of Default and after giving a Tenant Notice in accordance with applicable law, receive and collect all of the Rents as they become due.  Assignee shall thereafter continue to receive and collect all of the Rents, as long as Assignee deems such receipt and collection to be necessary or desirable, in Assignee’s sole discretion.
  
 Assignor hereby irrevocably appoints Assignee its true and lawful attorney, coupled with an interest, with full power of substitution and with full power for Assignee in its own name and capacity or in the name and capacity of Assignor, from and after the occurrence of an Event of Default and after the giving of a Tenant Notice in accordance with applicable law, to demand, collect, receive and give complete acquittance for any and all Rents and at Assignee’s discretion to file any claim or take any other action or proceeding and make any settlement of any claims, either in its own name or in the name of Assignor or otherwise, which Assignee may deem necessary or desirable in order to collect and enforce the payment of the Rents.  Subject to Chapter 64 of the Texas Property Code, Tenants are hereby expressly authorized and directed to pay all Rents and any other amounts due Assignor pursuant to the Leases or otherwise, to Assignee, or such nominee as Assignee may designate in a Tenant Notice delivered to such Tenants, and the Tenants are expressly relieved of any and all duty, liability or obligation to Assignor with respect to all payments so made.
  
 From and after the occurrence of an Event of Default and after the giving of a Tenant Notice in accordance with applicable law, Assignee is hereby vested with full power to use all measures, legal and equitable, deemed by Assignee necessary or proper to enforce this Assignment and to collect the Rents assigned hereunder, including the right of Assignee or its designee to enter upon the Premises, or any part thereof, with or without force and with or without process of law and take posses­sion of all or any part of the Premises together with all personal property, fixtures, documents, books, records, papers and accounts of Assignor relating thereto, and may exclude the Assignor, its agents and servants, wholly therefrom.  Assignor herein grants full power and authority to Assignee to exercise all rights, privileges and powers herein granted at any and all times after the occurrence of an Event of Default and after the giving of a Tenant Notice in accordance with applicable law, without further notice to Assignor, with full power to use and apply all of the Rents and other income herein assigned to the payment of the costs of managing and operating the Premises and of any indebtedness or liability of Assignor to Assignee, including, but not limited to, the payment of taxes, special assessments, insurance premiums, damage claims, the costs of maintaining, repairing, rebuilding and restoring the improvements on the Premises or of making the same rentable, reasonable attorneys’ fees incurred in connection with the enforcement of this Assignment, and of principal and interest payments due (and all other amounts due under the Mortgage) from Assignor to Assignee on the Note and the Mortgage, all in such order as Assignee may determine.  Assignee shall be under no obligation to exercise or prosecute any of the rights or claims assigned to it hereunder or to perform or carry out any of the obligations of the lessor under any of the Leases and does not assume any of the liabilities in connection with or arising or growing out of the covenants and agreements of Assignor in the Leases.   It is further understood that this Assignment shall not operate to place responsibility for the control, care, management or repair of the Premises, or parts thereof, upon Assignee, nor shall it operate to make Assignee liable for the performance of any of the terms and conditions of any of the Leases, or for any waste of the Premises by any Tenant or any other person, or for any dangerous or defective condition of the Premises or for any negligence in the management, upkeep, repair or control of the Premises resulting in loss or injury or death to any Tenant, licensee, employee or stranger.  If Assignor shall fail to pay, perform or observe any of its covenants or agreements hereunder, Assignee may pay, perform or observe the same and collect the cost thereof from Assignor all as more fully provided in the Mortgage.
  
 6.                  Assignee Not Liable; Indemnification.  Anything contained herein or in any of the Leases to the contrary notwithstanding:  (a) Assignor shall at all times remain solely liable under the Leases to perform all of the obligations of Assignor thereunder to the same extent as if this Assignment had not been executed; (b) neither this Assignment nor any action or inaction on the part of Assignor or Assignee shall release Assignor from any of its obligations under the Leases or constitute an assumption of any such obligations by Assignee; and (c) Assignee shall not have any obligation or liability under the Leases or otherwise by reason of or arising out of this Assignment, nor shall Assignee be required or obligated in any  manner to make any payment or perform any other obligation of Assignor under or pursuant to the Leases, or to make any inquiry as to the nature or sufficiency of any payment received by Assignee, or to present or file any claim, or to take any action to collect or enforce the payment of any amounts which have been assigned to Assignee or to which it may be entitled at any time or times.  Assignor shall and does hereby agree to indemnify Assignee and hold Assignee harmless from and against any and all liability, loss or damage which Assignee may or might incur, and from and against any and all claims and demands whatsoever which may be asserted against Assignee, in connection with or with respect to the Leases or this Assignment, whether by reason of any alleged obligation or undertaking on Assignee’s part to perform or discharge any of the covenants or agreements contained in the Leases or otherwise.  Should Assignee incur any such liability, loss or damage in connection with or with respect to the Leases or this Assignment, or in the defense of any such claims or demands, the amount thereof, including costs, expenses and attorneys’ fees, shall be paid by Assignor to Assignee immediately upon demand, together with interest thereon from the date of advancement at the Default Rate (as defined in the Note) until paid. 
  
 7.                  Mortgage Foreclosure.  Upon foreclosure of the lien and interest of the Mortgage and sale of the Premises pursuant thereto, or delivery and acceptance of a deed in lieu of foreclosure, all right, title and interest of Assignor in, to and under the Leases shall thereupon vest in and become the absolute property of the purchaser of the Premises in such foreclosure proceeding, or the grantee in such deed, without any further act or assignment by Assignor.  Nevertheless, Assignor shall execute, acknowledge and deliver from time to time such further instruments and assurances as Assignee may require in connection therewith and hereby irrevocably appoints Assignee the attorney-in-fact of Assignor in its name and stead to execute all appropriate instruments of transfer or assignment, or any instrument of further assurance, as Assignee may deem necessary or desirable, and Assignee may substitute one or more persons with like power, Assignor hereby ratifying and confirming all that its said attorney or such substitute or substitutes shall lawfully do by virtue hereof.
  
 8.                  Non-Waiver.  Waiver or acquiescence by Assignee of any default by the Assignor, or failure of the Assignee to insist upon strict performance by the Assignor of any covenants, conditions or agreements in this Assignment, shall not constitute a waiver of any subsequent or other default or failure, whether similar or dissimilar.
  
 9.                  Rights and Remedies Cumulative.  The rights and remedies of Assignee under this Assignment are cumulative and are not in lieu of, but are in addition to any other rights or remedies which Assignee shall have under the Note, Mortgage, or any other Loan Document, or at law or in equity.
  
 10.              Severability.  If any term of this Assignment, or the application thereof to any person or circumstances, shall, to any extent, be invalid or unenforceable, the remainder of this Assignment, or the application of such term to persons or cir­cumstances other than those as to which it is invalid or unenforce­able, shall not be affected thereby, and each term of this Assignment shall be valid and enforceable to the full extent permitted by law.
  
 11.              Notices.  
 (a)                All notices, demands, requests, and other communications desired or required to be given hereunder  (“Notices”), shall be in writing and shall be given by: (i) hand delivery to the address for Notices; (ii) delivery by overnight courier service to the address for Notices; or (iii) sending the same by United States mail, postage prepaid, certified mail, return receipt requested, addressed to the address for Notices; provided, however, that Notices given in respect of Chapter 64 of the Texas Property Code shall be given in compliance with such Chapter 64.
  
 (b)               All Notices shall be deemed given and effective upon the earlier to occur of: (x) the hand delivery of such Notice to the address for Notices; (y) one business day after the deposit of such Notice with an overnight courier service by the time deadline for next day delivery addressed to the address for Notices; or (z) three business days after depositing the Notice in the United States mail as set forth in (a)(iii) above.  All Notices shall be addressed to the following addresses:
  
 Assignor:                Hartman Mitchelldale Business Park, LLC
 c/o Hartman Short Term Income Properties XX, Inc.
 2909 Hillcroft, Suite 420
 Houston, Texas  77057
 Attention:  Louis T. Fox, III, CFO
  
 With a copy to:       Hartman Mitchelldale Business Park, LLC
 c/o Hartman Short Term Income Properties XX, Inc.
 2909 Hillcroft, Suite 420
 Houston, Texas  77057
 Attention:  Katherine N. O’Connell, General Counsel
  
 Assignee:               Security Life of Denver Insurance Company
 c/o Voya Investment Management LLC
 5780 Powers Ferry Road, NW, Suite 300
 Atlanta, Georgia  30327-4349
 Attention: Mortgage Loan Servicing Department
  
 and to:                   Voya Investment Management LLC
 5780 Powers Ferry Road, NW, Suite 300
 Atlanta, Georgia 30327-4349       
 Attention:  Real Estate Law Department
  
 With a copy to:     Bryan Cave LLP
 One Atlantic Center
 Fourteenth Floor 
 1201 West Peachtree Street, NW
 Atlanta, Georgia  30309-3488
 Attention:  Johnny D. Latzak, Jr., Esq.
  
 or to such other persons or at such other place as any party hereto may by Notice designate as a place for service of Notice.  Provided, that the “copy to” Notice to be given as set forth above is a courtesy copy only; and a Notice given to such person is not sufficient to effect giving a Notice to the principal party, nor does a failure to give such a courtesy copy of a Notice constitute a failure to give Notice to the principal party.
  
 12.              Heirs, Successors and Assigns.  The terms “Assignor” and “Assignee” shall be construed to include the respective heirs, personal representatives, successors and assigns of Assignor and Assignee.  The gender and number used in this Assignment are used as a reference term only and shall apply with the same effect whether the parties are of the masculine or feminine gender, corporate or other form, and the singular shall likewise include the plural.
  
 13.              Amendment.  This Assignment may not be amended, modified or changed nor shall any waiver of any provisions hereof be effective, except only by an instrument in writing and signed by the party against whom enforcement of any waiver, amendment, change, modification or discharge is sought.
  
 14.              Captions.  The captions or headings preceding the text of the Paragraphs of this Assignment are inserted only for convenience of reference and shall not constitute a part of this Assignment, nor shall they in any way affect its meaning, construc­tion or effect.
  
 15.              Termination of Assignment.  Upon payment in full of the indebtedness described in Paragraph 2, this Assignment shall terminate and be void and of no force or effect, and Assignee shall release its lien and security interest on the Rents and Leases without costs or expenses to Assignee, Assignor hereby agreeing to reimburse Assignee for such costs and expenses.
  
 16.              Choice of Law.  THE VALIDITY AND INTERPRETATION OF THIS ASSIGNMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS (EXCLUDING CONFLICTS OF LAWS RULES) OF THE STATE OF TEXAS.
  
 17.              Event of Default.  As used herein, “Event of Default” means the failure of Assignor to comply with any term or provision of this Assignment within the time specified herein or the occurrence of an event which constitutes an Event of Default as defined in the Note, the Mortgage, or any of the other Loan Documents.  Any Event of Default hereunder shall constitute an Event of Default under each and all of the other Loan Documents.
  
 18.              Exculpatory.  The liability of Assignor personally to pay the Note or any interest that may accrue thereon, or any indebtedness or obligation accruing or arising hereunder is limited to the extent set forth in the Note.
  
 19.              Integration.  This Assignment, together with the other Loan Documents, constitutes the entire agreement between the parties hereto pertaining to the subject matters hereof and supersedes all negotiations, preliminary agreements and all prior or contemporaneous discussions and understandings of the parties hereto in connection with the subject matters hereof.
  
 20.              Time of Essence.  Time is of the essence in the performance of this Assignment.
  
 21.              WAIVER OF JURY TRIAL.  THE PARTIES HERETO, AFTER CONSULTING OR HAVING HAD THE OPPORTUNITY TO CONSULT WITH COUNSEL, KNOWINGLY, VOLUNTARILY, AND INTENTIONALLY WAIVE ANY RIGHT THEY MAY HAVE TO A TRIAL BY JURY IN ANY LITIGATION BASED ON OR ARISING OUT OF THIS AGREEMENT OR INSTRUMENT, OR ANY RELATED INSTRUMENT OR AGREEMENT, OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREBY OR ANY COURSE OF CONDUCT, DEALING, STATEMENTS, WHETHER ORAL OR WRITTEN, OR ACTION OF ANY PARTY HERETO.  NO PARTY SHALL SEEK TO CONSOLIDATE BY COUNTERCLAIM OR OTHERWISE, ANY SUCH ACTION IN WHICH A JURY TRIAL HAS BEEN WAIVED WITH ANY OTHER ACTION IN WHICH A JURY TRIAL CANNOT BE OR HAS NOT BEEN WAIVED.  THESE PROVISIONS SHALL NOT BE DEEMED TO HAVE BEEN MODIFIED IN ANY RESPECT OR RELINQUISHED BY ANY PARTY HERETO EXCEPT BY A WRITTEN INSTRUMENT EXECUTED BY ALL PARTIES.
  
 6356340.3
  
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             IN WITNESS WHEREOF, Assignor has caused this instrument to be executed as of the date first above written, and acknowledges receipt of a copy hereof at the time of execution.
  
 	  
	 HARTMAN MITCHELLDALE BUSINESS PARK, LLC,a Texas limited liability company

	  
	  
 By:   Hartman Income REIT Management, Inc.,
a Texas corporation, Manager
  
  
  
 By:                                                          
                 Allen R. Hartman, President
  

  
  
 STATE OF TEXAS                      §
                                                       §
 COUNTY OF ___________        §
                         Before me, ___________________________, a Notary Public in and for said County and State, on this day personally appeared Allen R. Hartman, known to me (or proved to me on the oath of ______________________ or through ________________________ [description of identity card or other document]) to be the President of Hartman Income REIT Management, Inc., a Texas corporation, the manager of HARTMAN MITCHELLDALE BUSINESS PARK, LLC, a Texas limited liability company, whose name is subscribed to the foregoing instrument and acknowledged to me that he/she executed the same for the purposes and consideration therein expressed.           
             Given under my hand and seal of office this ____ day of _______________, 2014.
  
                                                                                                                                                             
 [AFFIX NOTARIAL SEAL]                                    Notary Public in and for                                 
 Printed Name:                                                 
 My Commission Expires:                                
  
  

  EXHIBIT A
  
 Legal DescriptionLIMITED GUARANTY
 (by Affiliate Entities)
  
 THIS LIMITED GUARANTY (this “Guaranty”) dated as of _______________, 2014, is made by the party or parties named on the signature page or pages hereof (herein individually and, if more than one, collectively, jointly and severally, referred to as a “Guarantor”), to and for the benefit of SECURITY LIFE OF DENVER INSURANCE COMPANY, a Colorado corporation (“Lender”).
  
  
 WITNESSETH:
  
 WHEREAS, Lender has agreed to make a loan (the “Loan”) to HARTMAN MITCHELLDALE BUSINESS PARK, LLC, a Texas limited liability company (the “Borrower”), in the aggregate principal amount of $12,725,000.00;
  
 WHEREAS, the Loan is to be evidenced by a Promissory Note made by Borrower to Lender dated on or about this same date (as the same may be extended, renewed, refinanced, refunded, amended, modified or supplemented from time to time, the “Note”) (said Note being more particularly described in the Mortgage which term is hereafter defined);
  
 WHEREAS, the Note is to be secured by, inter alia, a Deed of Trust, Security Agreement, Financing Statement and Fixture Filing (as the same may be amended, modified or supplemented from time to time, the “Mortgage”), and an Assignment of Rents and Leases (as the same may be amended, modified or supplemented from time to time, the “Assignment of Rents”), each of even date herewith and each intended to be recorded in the real estate records of the county and state where the Premises (as defined in the Mortgage; such Premises is herein sometimes referred to as “Borrower’s Premises”) is located;
  
 WHEREAS, each Guarantor has a significant interest in Borrower, and is familiar with the financial condition of Borrower and the transactions contemplated by the Note, Mortgage and the Loan Documents (capitalized terms not defined herein shall have the meanings assigned to them in the Mortgage), expects to derive material benefits from the contemplated uses of the proceeds of the Loan, and desires that Lender make the Loan;
  
 WHEREAS, each Guarantor acknowledges receipt of a copy of the Note, the Mortgage, the Assignment of Rents, and the other Loan Documents; and
  
 WHEREAS, the execution and delivery by Guarantor of this Guaranty is a condition to Lender’s obligation to make the Loan to Borrower;
  
 NOW, THEREFORE, in consideration of the premises and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by Guarantor, and intending to be legally bound, Guarantor hereby agrees as follows:
  
  
 ARTICLE I.
 GUARANTY
  
 1.1                                                                    Guaranteed Obligations.
  
 Subject to the limitations in Section 1.8 hereof, Guarantor hereby unconditionally and irrevocably guaranties to Lender the due, punctual and full payment and performance of, and covenants with Lender to duly, punctually and fully pay and perform, and to be fully liable to Lender for, the following as and when such payment shall become due (whether by acceleration or otherwise) in accordance with the terms of the Loan Documents (including without limitation attorney’s fees and disbursements and collection costs incurred in connection therewith) (collectively, the “Guaranteed Obligations”):
  
 (a)                all indebtedness of Borrower to Lender evidenced by the Note, both principal and interest, and any refinancing or refunding of any thereof, and all other amounts due or to become due under the Note, Mortgage and the other Loan Documents, and any refinancing or refunding of any thereof, whether now existing or hereafter arising, contracted or incurred; and
  
 (b)               all covenants, agreements, obligations and liabilities of Borrower under the Note and the other Loan Documents and the Environmental Indemnification Agreement dated of even date herewith from Borrower and Hartman Short Term Income Properties XX, Inc., a Maryland corporation, in favor of Lender (the “Environmental Indemnity”), whether now existing or hereafter arising, contracted or incurred.
  
 This Guaranty and the Guaranteed Obligations are to be secured by, inter alia, Deeds of Trust, Security Agreements, Financing Statements and Fixture Filings (Second Priority) executed and delivered by each Guarantor (collectively, as the same may be amended, modified or supplemented from time to time, the “Guarantor Second Mortgages”), and Assignments of Rents and Leases (Second Priority) executed and delivered by each Guarantor (collectively, as the same may be amended, modified or supplemented from time to time, the “Guarantor Second Assignments of Rents”), each of even date herewith and each such instrument intended to be recorded in the real estate records of the county and state where the “Premises” described in such instrument is located;
  
 1.2              Guaranty Unconditional.  The obligations of Guarantor hereunder are continuing, absolute and unconditional, irrespective of any circumstance whatsoever which might otherwise constitute a legal or equitable discharge or defense of a guarantor or surety.  Without limiting the generality of the foregoing, the obligations of Guarantor hereunder shall remain in full force and effect without regard to, and shall not be released, discharged or in any way affected by:
  
 (a)                any amendment, modification or supplement to the Mortgage, the Note or any other Loan Document;
  
 (b)               any exercise or nonexercise of or delay in exercising any right, remedy, power or privilege under or in respect of this Guaranty, the Mortgage, the Note or any other Loan Document (even if any such right, remedy, power or privilege shall be lost thereby), or any waiver, consent, indulgence or other action or inaction in respect thereof,
  
 (c)                any bankruptcy, reorganization, insolvency, arrangement, composition, assignment for the benefit of creditors or similar proceeding commenced by or against Borrower or any Guarantor or any discharge, limitation, modification or release of liability of the Borrower or any Guarantor by virtue of such proceedings;
  
 (d)               any failure to perfect or continue perfection of, or any release or waiver of, any rights given to Lender in Borrower’s Premises as security for the performance of any of the Guaranteed Obligations;
  
 (e)                any extension of time for payment or performance of any of the Guaranteed Obligations;
  
 (f)                the genuineness, validity or enforceability of the Loan Documents;
  
 (g)               any limitation of liability of Borrower, or of any or all of the holders of ownership interests in Borrower, contained in any Loan Document;
  
 (h)               any defense that may arise by reason of the failure of Lender to file or enforce a claim against the estate of Borrower in any bankruptcy or other proceeding;
  
 (i)                 any voluntary or involuntary liquidation, dissolution, sale of all or substantially all of the property of, or any marshaling of assets and liabilities or other similar proceeding affecting, Borrower or any Guarantor or any of its respective assets;
  
 (j)                 the release of Borrower, or any Guarantor, from performance or observance of any of the agreements, covenants, terms or conditions contained in the Loan Documents by operation of law;
  
 (k)               the failure of Lender to keep Guarantor advised of Borrower’s financial condition, regardless of the existence of any duty to do so, but not in any way implying any obligation contractual or otherwise to do so;
  
 (l)                 any sale or other transfer of Borrower’s Premises or any part thereof or any foreclosure by Lender on Borrower’s Premises or any part thereof;
  
 (m)             any counterclaim, recoupment, set-off, reduction or defense used in any claim Guarantor may assert or now or hereafter have against the Lender, the Borrower or any Guarantor; or
  
 (n)               any other circumstances which might otherwise constitute a legal or equitable discharge of a guarantor or surety.
  
 No set-off, claim, reduction or diminution of any obligation, or any defense of any kind or nature which Borrower or any Guarantor now has or hereafter may have against Lender, shall be available hereunder to any Guarantor against Lender.  Each Guarantor acknowledges that Lender may agree that it shall not in any foreclosure proceeding in respect of all or any portion of Borrower’s Premises seek or obtain a deficiency judgment against Borrower, and that the obligations of Guarantor shall in no way be diminished or otherwise affected by the failure to seek or obtain a deficiency judgment.
  
 Notwithstanding any contrary provisions hereof, Guarantor does not waive the benefits of statutes of limitations or repose, nor the benefits of Sections 51.003-51.005 of the Texas Property Code.
  
 1.3              No Notice or Duty to Exhaust Remedies.  Each Guarantor hereby waives diligence, presentment, demand, protest, acceptance of this Guaranty, and all notices of any kind, and waives any requirement that Lender exhaust any right or remedy, or proceed first or at any time, against Borrower or any other guarantor of, or any security for, any of the Guaranteed Obligations.  This Guaranty constitutes an agreement of suretyship as well as of guaranty, and Lender may pursue its rights and remedies under this Guaranty and under the other Loan Documents in whatever order, or collectively, as Lender may elect, and shall be entitled to payment and performance hereunder notwithstanding such other Loan Documents and notwithstanding any action taken by Lender or inaction by Lender to enforce any of its rights or remedies against any other guarantor or any other person or property whatsoever.
  
 1.4              Waiver of Subrogation.  Notwithstanding any payments made or obligations performed by Guarantor by reason of this Guaranty (including, but not limited to, application of funds on account of such payments or obligations), each Guarantor hereby irrevocably waives and releases any and all rights it may have at any time prior to repayment in full of the Loan (whether arising directly or indirectly, by operation of law, contract or otherwise) (a) to assert any claim against Borrower or any other person, or against any direct or indirect security, on account of payments made or obligations performed under or pursuant to this Guaranty, including without limitation any and all rights of subrogation, reimbursement, exoneration, contribution or indemnity, or (b) to require the marshaling of any assets of Borrower, which right of marshaling might otherwise arise from payments made or obligations performed under or pursuant to this Guaranty, and any and all rights that would result in such Guarantor being deemed a “creditor” under the United States Bankruptcy Code of Borrower or any other person.
  
 1.5              Subordination of Indebtedness.  Each Guarantor agrees that all indebtedness of Borrower to Guarantor, whether now existing or hereafter created, direct or indirect, contingent, joint, several, independent, due or to become due, or held or to be held by Guarantor, whether created directly or acquired by assignment or otherwise (the “Subordinated Indebtedness”), be and hereby is expressly subordinated and junior in right of payment to all of the Guaranteed Obligations.  Until the Loan is repaid in full, Guarantor shall take no action to enforce payment of any Subordinated Indebtedness by Borrower.
  
 1.6              Waivers.  Guarantor hereby waives (i) notice of the execution and delivery of any of the Loan Documents, (ii) notice of the creation of any of the Guaranteed Obligations, (iii) notice of the Lender’s acceptance of and reliance on this Guaranty, (iv) presentment and demand for payment of the Guaranteed Obligations and notice of non-payment and protest of non-payment of the Guaranteed Obligations, (v) any notice from the Lender of the financial condition of the Borrower regardless of the Lender’s knowledge thereof, (vi) demand for observance, performance or enforcement of, or notice of default under, any of the provisions of this Guaranty or any of the Loan Documents, and all other demands and notices otherwise required by law which Guarantor may lawfully waive, excepting therefrom notices which are expressly required by the Loan Documents, if any, (vii) any right or claim to cause a marshaling of the assets of the Borrower or any Guarantor, and (viii) any defense at law or in equity on the adequacy or value of the consideration for this Guaranty.
  
 1.7              Consents.  Without notice to, or further consent of Guarantor, Guarantor hereby consents that the Lender may at any time and from time to time on one or more occasions (a) renew, extend, accelerate, subordinate, change the time or manner of payment or performance of, or otherwise deal with in any manner satisfactory to the Lender any of the terms and provisions of, all or any part of the Guaranteed Obligations, (b) waive, excuse, release, change, amend, modify or otherwise deal with in any manner satisfactory to the Lender any of the provisions of any of the Loan Documents, (c) release the Borrower or any Guarantor, (d) waive, omit or delay the exercise of any of its powers, rights and remedies against the Borrower or any Guarantor or any collateral and security for all or any part of the Guaranteed Obligations, (e) release, substitute, subordinate, add, fail to maintain, preserve or perfect any of its liens on, security interests in or rights to, or otherwise deal with in any manner satisfactory to the Lender, any collateral and security for all or any part of the Guaranteed Obligations, and/or the Indebtedness under the Note or the obligations under the Mortgage or other Loan Documents, (f) apply any payments of all or any of the Guaranteed Obligations received from the Borrower or Guarantor, or any other party or source whatsoever, to the Guaranteed Obligations in such order and manner as the Lender in its sole and absolute discretion may determine, or (g) take or omit to take any other action, whether similar or dissimilar to the foregoing which may or might in any manner or to any extent vary the risk of Guarantor or otherwise operate as a legal or equitable discharge, release or defense of Guarantor under applicable laws.
 1.8              Exculpation.  Subject to the terms of the next succeeding paragraph and notwithstanding anything to the contrary otherwise contained in this Guaranty, but without in any way releasing, impairing or otherwise affecting this Guaranty or any of the Loan Documents (including without limitation any guaranties or indemnification agreements) or those certain Environmental Indemnification Agreements to which Borrower or any Guarantor is a party, or the validity hereof or thereof, or the lien of the Mortgage or of any Guarantor Second Mortgage, it is agreed that, with respect to each Guarantor, Lender’s source of satisfaction of the Guaranteed Obligations and the other obligations of each Guarantor hereunder is limited to (a) the “Premises” of such Guarantor (as defined in the Guarantor Second Mortgage executed by such Guarantor; such “Premises” is sometimes referred to in this Section 1.8 as the “Guarantor Premises”) and proceeds thereof, and (b) rents, income, issues, proceeds and profits arising out of the Guarantor Premises of such Guarantor after an Event of Default (as that term is hereafter defined); provided, however, that nothing herein contained shall be deemed to be a release or impairment of the Guaranteed Obligations or the security therefor intended by the Guarantor Second Mortgages, or be deemed to preclude Lender from foreclosing one or more of the Guarantor Second Mortgages or from enforcing any of Lender’s rights or remedies in law or in equity thereunder, or in any way or manner affecting Lender’s rights and privileges under any of the Loan Documents or any separate guaranty or indemnification agreements guarantying the Guaranteed Obligations.  
 PROVIDED, HOWEVER, NOTWITHSTANDING ANYTHING IN THISGUARANTY TO THE CONTRARY, EACH GUARANTOR SHALL PAY, AND THERE SHALL AT NO TIME BE ANY LIMITATION ON ANY GUARANTOR’S PERSONAL LIABILITY FOR THE PAYMENT TO LENDER OF:
  
                                          (i)                        the application of rents, security deposits, or other income, issues, profits, and revenues derived from the Borrower’s Premises during an uncured Event of Default to anything other than (a) normal and necessary operating expenses of Borrower’s Premises or (b) the Indebtedness evidenced by the Note.  It is understood that any rents collected more than one month in advance as of the time of the Event of Default shall be considered to have been collected after the Event of Default;
  
                                        (ii)                        any loss, cost or damages arising out of or in connection with fraud or material misrepresentations to Lender by Borrower (or by any of its general partners, officers, shareholders, members, or their agents, if applicable);
  
                                      (iii)                        any loss, cost or damages arising out of or in connection with Borrower’s use or misapplication of (a) any proceeds paid to Borrower under any insurance policies by reason of damage, loss or destruction to any portion of Borrower’s Premises, or (b) proceeds or awards paid to Borrower resulting from the condemnation or other taking in lieu of condemnation of any portion of Borrower’s Premises, for purposes other than those set forth in the Mortgage;
  
                                      (iv)                        any loss, cost or damages arising out of or in connection with any material physical waste of Borrower’s Premises or any portion thereof and all reasonable costs incurred by Lender in order to protect Borrower’s Premises;
  
                                        (v)                        any taxes, assessments and insurance premiums for which Borrower is liable under the Note, the Mortgage or any of the other Loan Documents and which are paid by Lender (but not the proportionate amount of any such taxes, assessments and insurance premiums which accrue following the date of foreclosure plus any applicable redemption period or acceptance of a deed-in-lieu of foreclosure);
  
                                      (vi)                        any loss, costs or damages arising out of or in connection with the covenants, obligations, and liabilities under Paragraph 31 of the Mortgage and the Environmental Indemnity;
  
                                    (vii)                        any loss, cost or damages to Lender arising out of or in connection with any construction lien, mechanic’s lien, materialman’s lien or similar lien against Borrower’s Premises arising out of acts of omissions of Borrower;
  
                                  (viii)                        any and all loss, costs or damages arising out of or incurred in order to cause the Improvements (as defined in the Mortgage) to comply with the accessibility provisions of The Americans with Disabilities Act and each of the regulations promulgated thereunder, as the same may be amended from time to time which are required by any governmental authority;
  
                                      (ix)                        the total Indebtedness in the event that (a) Lender is prevented from acquiring title to Borrower’s Premises after any Event of Default because of failure of Borrower’s title under federal, state or local laws, less any recovery received by Lender from any title insurance policy it holds in connection with the Borrower’s Premises, or (b) Borrower or any Guarantor or any general partner, beneficiary, trustee or member of the foregoing, voluntarily files a petition in bankruptcy or commences a case or insolvency proceeding under any provision or chapter of the Federal Bankruptcy Code;  
  
                                        (x)                        any loss, damage, cost, expense and liability, including, but not limited to, reasonable attorneys’ fees and costs, resulting from any act of Borrower or its general partners, members, shareholders, officers, directors, beneficiaries, and/or trustees, as the case may be, to obstruct, delay or impede Lender from exercising any of its rights or remedies under the Loan Documents;  
  
                                      (xi)                        the total Indebtedness in the event that (a) Borrower makes an unpermitted transfer of an interest in the Borrower or in Borrower’s Premises without the prior written approval of Lender, or (b) Borrower makes an unpermitted encumbrance on Borrower’s Premises or the holder of an ownership interest in Borrower encumbers such interest, without the prior written approval of Lender;  
  
                                    (xii)                        all costs and fees, including without limitation reasonable attorneys’ fees and costs, incurred by Lender in the enforcement of subparagraphs (i) through (xi) above.
  
 With the exception of those items of liability specifically set forth in items (i) through (xii) above, the lien of any judgment against any single Guarantor in any proceeding instituted on, under or in connection with this Guaranty shall not extend to any property now or hereafter owned by such Guarantor other than the interest of such Guarantor in the Guarantor Premises described in the Guarantor Second Mortgage executed by such Guarantor and the other security of such Guarantor for the Guaranteed Obligations.
  
 ARTICLE II.
 REPRESENTATIONS AND COVENANTS
  
 2.1              Representations.  Each Guarantor hereby represents to Lender that:
  
 (a)                Guarantor has a financial interest in Borrower, and Guarantor will receive material benefit and advantage from the making of the Loan.
  
 (b)               Since the date of the last financial statements provided to Lender, there has been no material adverse change in the assets, net worth, credit standing or other financial condition of Guarantor.  As of the date of this Guaranty, there has been no material litigation filed or threatened by or against, nor any judgment entered against, Guarantor.  As of the date of this Guaranty, no petition in bankruptcy or insolvency has been filed by or against Guarantor, nor has any application been made for the appointment of a receiver or trustee relating to the business or assets of Guarantor, nor has Guarantor made an assignment for the benefit of creditors or taken any other similar action.
  
 (c)                Guarantor has full power and authority to enter into this Guaranty, and the execution, delivery, and performance of this Guaranty does not violate any judgment or order of any court, agency or other governmental body by which Guarantor is bound, or any Certificate or Articles of Incorporation, Bylaws, Partnership Agreement, Articles of Organization, Operating Agreement or other charter, organizational or governing document of Guarantor, and does not violate or constitute any default under any agreement or instrument by which Guarantor is bound.
  
 2.2              Covenants.  Each Guarantor hereby covenants to Lender that:
  
 (a)                Promptly upon becoming aware thereof, Guarantor shall give Lender notice of the commencement, existence or threat of any proceeding by or before any governmental authority having jurisdiction over any of the Guarantors’ Premises (whether federal, state, local or municipal) against or affecting Guarantor which, if adversely decided, would have a material adverse effect on the business, operations, or financial condition of Guarantor or on its ability to perform its obligations hereunder.
  
 (b)               Guarantor shall permit such persons as Lender may designate to examine Guarantor’s books and records and take copies and extracts therefrom and to discuss the affairs of Guarantor with its officers, employees and independent accountants at such times and as often as Lender may reasonably request provided Lender gives reasonable notice thereof.  Guarantor hereby authorizes such officers, employees and independent accountants to discuss with Lender the affairs of Guarantor.
  
 (c)                Guarantor shall furnish to Lender within 90 days after the last day of each fiscal year of Guarantor, or upon request by Lender if an Event of Default under the Loan Documents has occurred, (i) financial statements of Guarantor in form and content satisfactory to Lender and (ii) copies of all annual federal or state income tax returns required to be filed by Guarantor; Guarantor covenants to pay all taxes shown on such returns when due.  Any such financial statements shall be internally prepared and certified by an authorized officer/partner/member of Guarantor.
  
 (d)               If Guarantor is a corporation, limited liability company or partnership, Guarantor shall not (i) dissolve, merge or consolidate with any other entity or (ii) sell, transfer or otherwise dispose of all or a substantial part of its assets except with Lender’s prior written consent or in a bona fide, arm’s length transaction and for a fair and reasonable consideration.
  
 ARTICLE III.
 DEFAULTS AND REMEDIES
  
 3.1              Event of Default.  The occurrence of any one or more of the following events shall constitute an Event of Default under the provisions of this Guaranty, and the term “Event of Default” as used in this Guaranty shall mean the occurrence of any one or more of the following events: (a) the failure of Guarantor to promptly pay or perform all or any part of the Guaranteed Obligations, (b) any representation or warranty made herein or any financial statement or other information furnished by Guarantor pursuant hereto shall prove to have been false or misleading in any material respect on the date as of which the same was made or furnished, (c) the failure of Guarantor to observe, perform and comply with any of the covenants set forth in Section 2.2 of this Guaranty, and such failure shall continue uncured for a period of ten (10) days from the date of notice thereof from the Lender to Guarantor, or (d) the commencement or filing of any proceedings by or against Guarantor or any of Guarantor’s assets or properties under the provisions of any bankruptcy, reorganization, arrangement, insolvency, receivership, liquidation or similar law for the relief of debtors, and, except with respect to any such proceedings instituted by Guarantor, are not discharged within sixty (60) days of their commencement.
  
 3.2              Rights and Remedies.  Upon the occurrence of an Event of Default under the provisions of this Guaranty, an amount equal to the total of the Guaranteed Obligations then outstanding (whether matured or unmatured and regardless of whether any portion of such Guaranteed Obligations are then due and payable by the Borrower) shall immediately and automatically be due and payable by Guarantor to Lender without further action by, or notice of any kind from, Lender unless expressly provided for herein, and the Lender may at any time and from time to time thereafter exercise any powers, rights and remedies available to the Lender under the provisions of this Guaranty, the Loan Documents and applicable laws to enforce and collect the obligations and liabilities of Guarantor hereunder, all such powers, rights and remedies being cumulative and enforceable alternatively, successively or concurrently.  Guarantor shall pay to Lender on demand the amount of any and all costs and expenses, including, without limitation, court costs and attorney’s fees and expenses, paid or incurred by or on behalf of the Lender in exercising any such powers, rights and remedies, together with interest thereon from the date due until paid in full at the Default Rate (as defined in the Note).  Each and every Event of Default hereunder shall give rise to a separate cause of action hereunder, and separate actions may be brought hereunder as each cause of action arises.  No failure or delay by the Lender in one or more instances to require strict performance by Guarantor of any of the provisions hereof or to exercise any powers, rights or remedies available to it under the provisions of this Guaranty, the Loan Documents or applicable laws shall operate as a waiver thereof or preclude Lender at any later time or times from demanding strict performance thereof or exercising any such powers, rights or remedies.  No conduct, custom or course of dealing shall be effective to waive, amend, modify or release this Guaranty.  No modification or waiver of any of the provisions of this Guaranty shall be effective unless it is in writing and signed by the Lender, and any such waiver shall be effective only in the specific instance and for the specific purpose for which it is given.
  
 3.3              Effect Of Bankruptcy Proceedings.  This Guaranty shall continue to be effective, or be automatically reinstated, as the case may be, if at any time payment, in whole or in part, of any of the Guaranteed Obligations is rescinded or must otherwise be restored or returned by Lender as a preference, fraudulent conveyance or otherwise under any bankruptcy, insolvency or similar law, all as though such payment had not been made.  If an Event of Default at any time shall have occurred and be continuing or exist and declaration of default or acceleration under or with respect to any of the Loan Documents shall at such time be prevented by reason of the pendency against Borrower of a case or proceeding under any bankruptcy or insolvency law, Guarantor agrees that, for purposes of this Guaranty and Guarantor’s obligations hereunder, such Loan Documents shall be deemed to have been declared in default or accelerated with the same effect as if such Loan Documents had been declared in default and accelerated in accordance with the terms thereof, and Guarantor shall forthwith pay the Guaranteed Obligations in full without further notice or demand.
  
 ARTICLE IV.
 MISCELLANEOUS
  
 4.1              Further Assurances.  From time to time upon the request of Lender, Guarantor shall promptly and duly execute, acknowledge and deliver any and all such further instruments and documents as Lender may deem necessary or desirable to confirm this Guaranty, to carry out the purpose and intent hereof or to enable Lender to enforce any of its rights hereunder.
  
 4.2              Amendments, Waivers, Etc.  This Guaranty cannot be amended, modified, waived, changed, discharged or terminated except by an instrument in writing signed by the party against whom enforcement of such amendment, modification, waiver, change, discharge or termination is sought.
  
 4.3              No Implied Waiver; Cumulative Remedies.  No course of dealing and no delay or failure of Lender in exercising any right, power or privilege under this Guaranty or any other Loan Document shall affect any other or future exercise thereof or exercise of any other right, power or privilege; nor shall any single or partial exercise of any such right, power or privilege or any abandonment or discontinuance of steps to enforce such a right, power or privilege preclude any further exercise thereof or of any other right, power or privilege.  The rights and remedies of Lender under this Guaranty are cumulative and not exclusive of any rights or remedies which Lender would otherwise have under the other Loan Documents, at law or in equity.
  
 4.4              Notices.
  
 (a)                All notices, demands, requests, and other communications desired or required to be given hereunder (“Notices”), shall be in writing and shall be given by: (i) hand delivery to the address for Notices; (ii) delivery by overnight courier service to the address for Notices; or (iii) sending the same by United States mail, postage prepaid, certified mail, return receipt requested, addressed to the address for Notices.
  
 (b)               All Notices shall be deemed given and effective upon the earlier to occur of:  (i) the hand delivery of such Notice to the address for Notices; (ii) one business day after the deposit of such Notice with an overnight courier service by the time deadline for next day delivery addressed to the address for Notices; or (iii) three (3) business days after depositing the Notice in the United States mail as set forth in (a)(iii) above.  All Notices shall be addressed to the following addresses:
  
 Guarantor:                   Hartman Bent Tree Green, LLC
                                     c/o Hartman Short Term Income Properties XX, Inc.
 2909 Hillcroft, Suite 420
 Houston, Texas  77057
 Attention:  Louis T. Fox, III, CFO
  
 Harman Cooper Street Plaza, LLC
 c/o Hartman Short Term Income Properties XX, Inc.
 2909 Hillcroft, Suite 420
 Houston, Texas  77057
 Attention:  Louis T. Fox, III, CFO
  
 Hartman Richardson Heights Properties, LLC
 c/o Hartman Short Term Income Properties XX, Inc.
 2909 Hillcroft, Suite 420
 Houston, Texas  77057
 Attention:  Louis T. Fox, III, CFO
  
 With a copy to:           Hartman Short Term Income Properties XX, Inc.
 2909 Hillcroft, Suite 420
 Houston, Texas  77057
 Attention:  Katherine N. O’Connell, General Counsel
 Lender:                        Security Life of Denver Insurance Company
 c/o Voya Investment Management LLC
 5780 Powers Ferry Road, NW, Suite 300
 Atlanta, Georgia 30327-4349
 Attention:  Mortgage Loan Servicing Department
  
 and to:                         Voya Investment Management LLC
 5780 Powers Ferry Road, NW, Suite 300
 Atlanta, Georgia 30327-4349
 Attention:  Real Estate Law Department
  
 With a copy to:           Bryan Cave LLP
 One Atlantic Center
 Fourteenth Floor
 1201 West Peachtree Street, NW
 Atlanta, Georgia  30309-3488
 Attention:  Johnny D. Latzak, Jr., Esq.
  
 or to such other persons or at such other place as any party hereto may by Notice designate as a place for service of Notice.  Provided, that the “copy to” Notice to be given as set forth above is a courtesy copy only; and a Notice given to such person is not sufficient to effect giving a Notice to the principal party, nor does a failure to give such a courtesy copy of a Notice constitute a failure to give Notice to the principal party.
  
 4.5              Expenses.  Guarantor agrees to pay or cause to be paid and to save Lender harmless against liability for the payment of all out-of-pocket expenses, including fees and expenses of counsel for Lender, incurred by Lender from time to time arising in connection with Lender’s enforcement or preservation of rights under this Guaranty, including, but not limited to, such expenses as may be incurred by Lender in connection with any default by Guarantor of any of Guarantor’s obligations hereunder.
  
 4.6              Continuing Agreement.  This Guaranty shall be a continuing one and shall be binding upon Guarantor regardless of how long before or after the date hereof any of the Guaranteed Obligations were or are incurred, and all representations, warranties, covenants, undertakings, obligations, consents, waivers and agreements of Guarantor herein shall survive the date of this Guaranty and shall continue in full force and effect until all Guaranteed Obligations have been indefeasibly paid in full and no commitments therefor are outstanding.
  
 4.7              Jurisdiction.  Each Guarantor after consultation with counsel irrevocably (a)  agrees that Lender may bring suit, action or other legal proceedings arising out of this Guaranty in the courts of the State of Texas in Harris County, or the United States District Court in the federal judicial district in which the Borrower’s Premises or any of the Guarantors’ Premises is located; (b) consents to the jurisdiction of each such court in any such suit, action or proceeding; (c) consents to service of process in any such suit, action, or proceeding by the mailing of copies of such process to Guarantor by certified or regular mail at the notice address provided herein; (d) waives any objection which Guarantor may have to the laying of the venue of any such suit, action or proceeding in any of such courts; and (e) waives any right Guarantor may have to a jury trial in connection with any such suit, action or proceeding.
  
 4.8              Severability.  If any term or provision of this Guaranty or the application thereof to any person or circumstance shall to any extent be invalid or unenforceable, the remainder of this Guaranty, or the application of such term or provision to persons or circumstances other than those as to which it is invalid or unenforceable, shall not be affected thereby, and each term and provision of this Guaranty shall be valid and enforceable to the full extent permitted by law.
  
 4.9              Counterparts.  This Guaranty may be executed in any number of counterparts and by the different parties hereto on separate counterparts, each of which, when so executed, shall be deemed an original, but all such counterparts shall constitute but one and the same instrument.
  
 4.10          Governing Law.  This Guaranty shall be governed by, and construed in accordance with, the laws (excluding conflicts of laws rules) of the State of Texas.
  
 4.11          Joint and Several.  The obligations of Guarantor hereunder shall be joint and several.
  
 4.12          Successors and Assigns.  This Guaranty shall bind Guarantor and Guarantor’s heirs, executors, successors and assigns, and shall inure to the benefit of Lender and its successors and assigns.
  
 4.13          Time is of the Essence.  Time is of the essence in connection with all obligations of Guarantor hereunder.
  
 4.14          Assignment.  The Lender may, without notice or consent to Guarantor, assign or transfer all or any part of the Guaranteed Obligations and this Guaranty will inure to the benefit of Lender’s assignee or transferee; provided that the Lender shall continue to have the unimpaired right to enforce this Guaranty as to that part of the Guaranteed Obligations the Lender has not assigned or transferred.  In connection with any such assignment, transfer, or the grant of any participation in all or a part of the Guaranteed Obligations, the Lender may divulge to any potential or actual assignee, transferee or participant all reports, financial or other information and documents furnished or executed in connection with this Guaranty.
  
 4.15          WAIVER OF JURY TRIAL.  GUARANTOR, AFTER CONSULTING OR HAVING HAD THE OPPORTUNITY TO CONSULT WITH COUNSEL, KNOWINGLY, VOLUNTARILY, AND INTENTIONALLY WAIVES ANY RIGHT GUARANTOR MAY HAVE TO A TRIAL BY JURY IN ANY LITIGATION BASED ON OR ARISING OUT OF THIS AGREEMENT OR INSTRUMENT, OR ANY RELATED INSTRUMENT OR AGREEMENT, OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREBY OR ANY COURSE OF CONDUCT, DEALING, STATEMENTS, WHETHER ORAL OR WRITTEN, OR ACTION OF ANY PARTY HERETO.  GUARANTOR SHALL NOT SEEK TO CONSOLIDATE BY COUNTERCLAIM OR OTHERWISE, ANY SUCH ACTION IN WHICH A JURY TRIAL HAS BEEN WAIVED WITH ANY OTHER ACTION IN WHICH A JURY TRIAL CANNOT BE OR HAS NOT BEEN WAIVED. THESE PROVISIONS SHALL NOT BE DEEMED TO HAVE BEEN MODIFIED IN ANY RESPECT OR RELINQUISHED BY ANY PARTY HERETO EXCEPT BY A WRITTEN INSTRUMENT EXECUTED BY ALL PARTIES.
  
 4.16          Acknowledgment.  The undersigned further acknowledge having received advice from legal counsel to the undersigned as to the nature and extent of all waivers set forth in this Guaranty.
  
 4.17          Gender; Number; Terms.  Words and phrases herein shall be construed as in the singular or plural number and as masculine, feminine or neuter gender, according to the context.  The use of the words “herein,” “hereof,” “hereunder” and other similar compounds of the word “here” shall refer to this entire Guaranty and not to any particular section, paragraph or provision.
  
  
 6356772.2
  
  
  
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 IN WITNESS WHEREOF, each Guarantor has duly executed and delivered this Guaranty as of the date first above written.
  
  
 GUARANTORS:
  
 	  
	 HARTMAN BENT TREE GREEN, LLC, a Texas limited liability company

	  
	  
 By:   Hartman Income REIT Management, Inc.,
 a Texas corporation, Manager
  
 By:                                                          
                 Allen R. Hartman, President
  

  
  
  
 STATE OF TEXAS                §
                                                 §
 COUNTY OF ___________  §
  
             This instrument was acknowledged before me on ___________________, 2014, by Allen R. Hartman, the President of Hartman Income REIT Management, Inc., a Texas corporation, the manager of HARTMAN BENT TREE GREEN, LLC, a Texas limited liability company (the “Company”), on behalf of the Company.
  
             Given under my hand and seal of office this ____ day of _______________, 2014.
  
                                                                                                                                                             
 [AFFIX NOTARIAL SEAL]                                    Notary Public in and for                                 
 Printed Name:                                                 
 My Commission Expires:                                
  
 [SIGNATURES CONTINUED ON FOLLOWING PAGE]
  
  

 [SIGNATURES CONTINUED FROM PRECEDING PAGE]
  
 	  
	 HARTMAN COOPER STREET PLAZA, LLC, a Texas limited liability company

	  
	  
 By:   Hartman Income REIT Management, Inc.,
 a Texas corporation, Manager
  
 By:                                                          
                 Allen R. Hartman, President
  

	  
	  

  
 STATE OF TEXAS                §
                                                 §
 COUNTY OF ___________  §
  
             This instrument was acknowledged before me on ___________________, 2014, by Allen R. Hartman, the President of Hartman Income REIT Management, Inc., a Texas corporation, the manager of HARTMAN COOPER STREET PLAZA, LLC, a Texas limited liability company (the “Company”), on behalf of the Company.
             
             Given under my hand and seal of office this ____ day of _______________, 2014.
  
                                                                                                                                                             
 [AFFIX NOTARIAL SEAL]                                    Notary Public in and for                                 
 Printed Name:                                                 
 My Commission Expires:                                
  
  
  
 [SIGNATURES CONTINUED ON FOLLOWING PAGE]
  
  

  
  
  
 [SIGNATURES CONTINUED FROM PRECEDING PAGE]
  
  
 	  
	 HARTMAN RICHARDSON HEIGHTS PROPERTIES, LLC,a Texas limited liability company

	  
	  
 By:   Hartman Income REIT Management, Inc.,
 a Texas corporation, Manager
  
 By:                                                          
                 Allen R. Hartman, President 

	  
	  

  
  
  
 STATE OF TEXAS                      §
                                                       §
 COUNTY OF ___________        §
             This instrument was acknowledged before me on ___________________, 2014, by Allen R. Hartman, the President of Hartman Income REIT Management, Inc., a Texas corporation, the manager of HARTMAN RICHARDSON HEIGHTS PROPERTIES, LLC, a Texas limited liability company (the “Company”), on behalf of the Company.
             Given under my hand and seal of office this ____ day of _______________, 2014.
  
                                                                                                                                                             
 [AFFIX NOTARIAL SEAL]                                    Notary Public in and for                                 
 Printed Name:                                                 
 My Commission Expires:

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