Document:

Assumption Agreement, made as of August 25, 2011

 EXHIBIT 10.82 

 

					
	PREPARED BY:	  	)	  	
		  	)	  	
	Anderson, McCoy & Orta, P.C.	  	)	  	
	100 N. Broadway, Suite 2600	  	)	  	
	Oklahoma City, Oklahoma 73102	  	)	  	
	Attn: Mike Anderson	  	)	  	
	Loan No. 50-2855974	  	)	  	

 Tax Parcel No. 02-28-201-003 
 ASSUMPTION AGREEMENT 
 This Assumption Agreement
(“Assumption Agreement”) is made this 25th of August, 2011, by U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE, SUCCESSOR-IN-INTEREST TO BANK OF AMERICA, N.A., AS TRUSTEE, SUCCESSOR TO WELLS FARGO BANK, N.A., AS TRUSTEE, FOR THE
REGISTERED HOLDERS OF WACHOVIA BANK COMMERCIAL MORTGAGE TRUST, COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-C27 (“Noteholder”), Crossroads Bolingbrook, LLC, an Illinois limited liability company and RES Crossroads
Bolingbrook, LLC, a Delaware limited liability company (collectively tenant-in-common “Borrower”), Robert E. Smietana, John E. Shaffer and Melissa S. Pielet, each an individual (collectively “Original Guarantor”),
IIT Bolingbrook - Park 55 DC LLC, a Delaware limited liability company (“Assumptor”), and Industrial Income Trust, Inc., a Maryland corporation (“New Guarantor”). 

RECITALS 
  

	A.	Noteholder’s predecessor in interest, Wachovia Bank, National Association (“Original Lender”), made a loan to Borrower in the original principal
amount of Six Million Three Hundred Fifty Thousand and no/100 Dollars ($6,350,000.00) (“Loan”), under the terms and provisions set forth in the following loan documents, all of which are dated as of June 23, 2006, unless
otherwise noted: 

  

	 	1.	Promissory Note (“Note”) in the original principal amount of the Loan, made by Borrower and payable to Original Lender; 

 

	 	2.	 Mortgage, Security Agreement and Fixture Filing executed by Borrower to Original Lender which secures the Note and other obligations of Borrower
(“Mortgage”), and which Mortgage was recorded on June 28, 2006, as Document No. R2006106022 with the Will County Recorder, State of Illinois (“Official Records”), the Original Lender’s interest under which
was assigned to Noteholder by instrument recorded on August 13, 2009, as Document No. 

	 	
R2009099024, in the Official Records. The land, improvements and other real property which are subject to the Mortgage are hereinafter referred to as the “Property” and the
equipment, machinery and other personal property which are subject to the Mortgage are hereinafter referred to as the “Collateral”; 

  

	 	3.	Assignment of Leases and Rents executed by Borrower, which was recorded on June 28, 2006, as Document No. R2006106023, with the Official Records, the Original
Lender’s interest under which was assigned to Noteholder by instrument recorded on August 13, 2009, as Document No. R2009099024 in the Official Records; 

 

	 	4.	Indemnity and Guaranty Agreements executed by the three Original Guarantors (“Guaranty”); 

 

	 	5.	Environmental Indemnity Agreement executed by Borrower and Original Guarantor (“Environmental Agreement”); 

 

	 	6.	Letter of Credit in the amount of $100,000.00; 

  

	 	7.	UCC-1 Financing Statement filed on July 11, 2006, as Document No. R2006112540/U2006000415 with the Official Records (“County UCC”);

  

	 	8.	UCC-1 Financing Statement filed on June 29, 2006, as Instrument 62247500, with the Delaware Secretary of State (“State UCC”); and,

  

	 	9.	UCC-1 Financing Statement filed on June 29, 2006, as Instrument 11108369 FS with the Illinois Secretary of State (“State UCC”).

 The above documents and any other loan documents executed by Borrower, including, in each case, any prior
amendments thereto, together with this Assumption Agreement are hereinafter collectively defined as the “Loan Documents”. 
  

	B.	As of August 19, 2011: 

 The principal
balance outstanding under the Note was $6,345,063.95; 
  

	 	1.	Accrued interest on the Note has been paid through August 10, 2011; 

  

	 	2.	The balance in the tax escrow reserve (as defined in Section 2.4 of the Mortgage) was $-0-; 

 

	 	3.	The balance in the insurance escrow reserve (as defined in Section 2.3 of the Mortgage) was $-0-; and, 

  
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	 	4.	The balance in the rollover reserve (as defined in Article III of the Mortgage) was $-0-. 

 

	C.	Borrower has sold and conveyed the Property and the Collateral to Assumptor, or is about to sell and convey the Property and the Collateral to Assumptor, and both
parties desire to obtain from Noteholder a waiver of any right Noteholder may have under the Loan Documents to accelerate the Maturity Date of the Note by virtue of such conveyance. 

 

	D.	Subject to the terms and conditions hereof, Noteholder is willing to consent to the sale and conveyance of the Property and the Collateral, and to waive any right of
acceleration of the Maturity Date of the Note upon assumption by Assumptor of all obligations of Borrower under the Loan Documents. 

 NOW THEREFORE, FOR VALUABLE CONSIDERATION, including, without limitation, the mutual covenants and promises contained herein, the parties agree as follows: 

 

	 	1.	Incorporation. The foregoing recitals are incorporated herein by this reference. 

 

	 	2.	Assumption Fee. As consideration for Noteholder’s execution of this Assumption Agreement and in addition to any other sums due hereunder, Borrower
and Assumptor agree to pay Noteholder or Noteholder’s servicer(s) (all as set forth in the escrow instructions to be executed in connection with the closing of this assumption) an assumption fee of $31,725.32 (.50% of the loan balance), due on
execution of this Assumption Agreement by Noteholder. 

  

	 	3.	Conditions Precedent. The following are conditions precedent to Noteholder’s obligations under this Assumption Agreement: 

 

	 	a.	The irrevocable commitment of First American Title Insurance Company (“Title Company”) to issue CLTA 110.5, CLTA 104.8 and CLTA 111.4 (or equivalent)
endorsements to Chicago Title Company’s Title Policy No. 1301 000322200, dated June 28, 2006 (“Existing Title Policy”), in each case in form and substance acceptable to Noteholder and without deletions or exceptions
other than as expressly approved by Noteholder in writing, or the irrevocable commitment of a title company approved by Noteholder to issue a new policy identical to Existing Title Policy, insuring Noteholder that the priority and validity of the
Mortgage has not been and will not be impaired by this Assumption Agreement, the conveyance of the Property, or the transaction contemplated hereby; 

  

	 	b.	 Receipt and approval by Noteholder of: (i) the executed original of this Assumption Agreement; (ii) an executed original of a Memorandum of
Assumption Agreement in the form attached hereto as EXHIBIT A and otherwise in form and substance acceptable to Noteholder (“Memorandum of Assumption Agreement”); and (iii) any other

  
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documents and agreements which are required pursuant to this Assumption Agreement, in form and content acceptable to Noteholder; 

 

	 	c.	Recordation in the Official Records of the Memorandum of Assumption Agreement, together with such other documents and agreements, if any, required pursuant to this
Assumption Agreement or which Noteholder has requested to be recorded or filed; 

  

	 	d.	Delivery to Noteholder of UCC-1 Financing Statements in proper form for filing in the appropriate jurisdictions as determined by Noteholder, which Assumptor expressly
authorizes Noteholder to file; 

  

	 	e.	Execution and delivery to Noteholder by New Guarantor of an Indemnity and Guaranty Agreement (“New Guaranty”) in favor of Noteholder and in form and
substance acceptable to Noteholder, pursuant to which New Guarantor irrevocably guarantees payment for certain matters under the Note as more specifically set forth in the New Guaranty; 

 

	 	f.	Execution and delivery to Noteholder by Assumptor and New Guarantor of Environmental Indemnity Agreement (“New Environmental Agreement”) in favor of
Noteholder and in form and substance acceptable to Noteholder; 

  

	 	g.	Delivery to Noteholder of the organizational documents and evidence of good standing of Assumptor, its constituent parties, and of New Guarantor, together with such
resolutions or certificates as Noteholder may require, in form and content acceptable to Noteholder, authorizing the assumption of the Loan and executed by the appropriate persons and/or entities on behalf of Assumptor and New Guarantor;

  

	 	h.	The representations and warranties contained herein are true and correct; 

  

	 	i.	Receipt by Noteholder of evidence of insurance in compliance with the Mortgage, including certificates of insurance evidencing Assumptor’s casualty insurance
policy (ACORD 27) and comprehensive liability insurance policy (ACORD 25) with respect to the Property, each in form and amount reasonably satisfactory to Noteholder, with the annual premium for same to be paid at closing. Furthermore, to the extent
such insurance is approved by Noteholder for closing purposes without the inclusion of a Loss Payable Endorsement, Assumptor agrees to provide to Noteholder, within thirty (30) days hereof, satisfactory evidence of such endorsement to
Noteholder; 

  

	 	j.	Receipt by Noteholder of a copy of the special warranty deed by which title to the Property will be conveyed to Assumptor, and the purchase and sale agreement
documenting the sale of the Property to Assumptor; 

  
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	 	k.	Receipt by Noteholder of an executed assignment of the purchaser’s interest in the purchase and sale agreement for the Property from the purchaser named therein to
Assumptor; 

  

	 	l.	Receipt by Noteholder of an executed Form W-9 for Assumptor; 

  

	 	m.	Receipt by Noteholder of a copy of the new property management agreement for the Property in form and substance, and with a manager, acceptable to Noteholder, along
with an executed assignment of management agreement acceptable to Noteholder; 

  

	 	n.	Noteholder shall have received such opinions of counsel as may be required by Noteholder’s counsel or the Loan Documents, addressed to Noteholder with respect to
the enforceability, due execution and compliance of this Assumption Agreement, the transfer to Assumptor, and the transactions referenced herein with the provisions of the Internal Revenue Code as the same pertain to real estate mortgage investment
conduits; 

  

	 	o.	Noteholder shall have received opinions of counsel to Assumptor and New Guarantor opining with respect to (i) the validity and enforceability of this Assumption
Agreement and the terms and provisions hereof, and any other agreement executed in connection with the transactions contemplated hereby, (ii) the authority of the Assumptor and New Guarantor (and any constituents thereof), to execute and
deliver this Assumption Agreement and perform their obligations under the Note and other Loan Documents, and (iii) such other matters as reasonably requested by the Noteholder; 

 

	 	p.	Payment of the assumption fee provided for in Section 2 above; 

  

	 	q.	Borrower’s or Assumptor’s reimbursement to Noteholder of Noteholder’s costs and expenses incurred in connection with this Assumption Agreement and the
transactions contemplated hereby, including, without limitation, title insurance costs, escrow and recording fees, attorneys’ fees, appraisal, engineers’ and inspection fees and documentation costs and charges, whether such services are
furnished by Noteholder’s employees, agents or independent contractors; and, 

  

	 	r.	Assumptor shall have provided to Noteholder a satisfactory letter of credit in the amount of $100,000.00, in compliance with and to be held pursuant to Section 3.5
of the Mortgage. 

  
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	 	4.	Effective Date. The effective date of this Assumption Agreement shall be the date the Memorandum of Assumption Agreement is recorded in the Official
Records (“Effective Date”). 

  

	 	5.	Assumption. Assumptor hereby assumes and agrees to pay when due all sums due or to become due or owing under the Note, the Mortgage and the other Loan
Documents and shall hereafter faithfully perform all of Borrower’s obligations under and be bound by all of the provisions of the Loan Documents and assumes all liabilities of Borrower under the Loan Documents as if Assumptor were an original
signatory thereto, but subject in all events to the exculpation provisions of Section 3.6 of the Note. The execution of this Assumption Agreement by Assumptor shall be deemed its execution of the Note, the Mortgage and the other Loan Documents.

  

	 	6.	Partial Release of Borrower; Release of Noteholder. Noteholder hereby releases (on the Effective Date) Borrower from liability under the Loan Documents
other than this Assumption Agreement; provided however, that the parties hereby acknowledge and agree that Borrower is expressly not released from and nothing contained herein is intended to limit, impair, terminate or revoke, any of Borrower’s
obligations with respect to the matters set forth in the Note, to the extent the same arise out of or in connection with any act or omission occurring on or before the Effective Date (the “Retained Obligations”), and that such
obligations shall continue in full force and effect in accordance with the terms and provisions thereof and hereof. Borrower’s obligations under the Loan Documents with respect to the Retained Obligations shall not be discharged or reduced by
any extension, amendment, renewal or modification to, the Note, the Mortgage or any other Loan Documents, including, without limitation, changes to the terms of repayment thereof, modifications, extensions or renewals of repayment dates, releases or
subordinations of security in whole or in part, changes in the interest rate or advances of additional funds by Noteholder in its discretion for purposes related to those set forth in the Loan Documents. Each of Borrower, Original Guarantor,
Assumptor and New Guarantor hereby fully releases (on the Effective Date) Noteholder and any servicer(s) of the Loan from any liability of any kind arising out of or in connection with the Loan or the Loan Documents other than this Assumption
Agreement. Each of Borrower, Original Guarantor, Assumptor and New Guarantor after consultation with its respective attorney, hereby expressly waives the benefits of the provisions of applicable law, if any, which provides to the effect that:

 “A general release does not extend to claims which the creditor does not know or suspect to exist in his
or her favor at the time of executing the release which, if known by him or her, must have materially affected his or her settlement with the debtor.” 

  
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 From time to time without first requiring performance on the part of Assumptor, Noteholder
may look to and require performance by Borrower of all Retained Obligations. Borrower waives all presentments, demands for performance, notices of nonperformance, protests, notices of protest and notices of dishonor of all or any part of the
indebtedness now existing or hereafter arising under the Loan Documents. 
  

	 	7.	Confirmation of Guaranty; Partial Release of Original Guarantor. Nothing contained herein is intended to limit, impair, terminate or revoke Original
Guarantor’s obligations under the Guaranty to the extent the same arise out of or in connection with any act or omission occurring on or before the Effective Date and such obligations shall continue in full force and effect in accordance with
the terms and provisions of the Guaranty; provided, however, Noteholder hereby releases Original Guarantor from its obligations under the Guaranty to the extent the same arise out of or in connection with any act or omission occurring after the
Effective Date. 

  

	 	8.	Representations and Warranties. 

  

	 	a.	Assignment. Borrower and Assumptor each hereby represents and warrants to Noteholder that Borrower has irrevocably and unconditionally transferred and assigned
to Assumptor all of Borrower’s right, title and interest in and to: 

  

	 	i.	The Property and the Collateral; 

  

	 	ii.	The Loan Documents; 

  

	 	iii.	All leases related to the Property or the Collateral; 

  

	 	iv.	Assumptor shall obtain its own casualty and liability insurance policies relating to the Property or the Collateral; 

 

	 	v.	All reciprocal easement agreements, operating agreements, and declarations of conditions, covenants and restrictions related to the Property; 

 

	 	vi.	All prepaid rents and security deposits, if any, held by Borrower in connection with leases of any part of the Property or the Collateral; and 

 

	 	vii.	All funds, if any, deposited in impound accounts held by or for the benefit of Noteholder pursuant to the terms of the Loan Documents. 

Borrower and Assumptor each hereby further represents and warrants to Noteholder that no consent to the transfer of the Property and the
Collateral to 

  
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Assumptor is required under any agreement to which Borrower or Assumptor is a party, including, without limitation, under any lease, operating agreement, mortgage or security instrument (other
than the Loan Documents), or if such consent is required, that the parties have obtained all such consents. 
  

	 	b.	No Defaults. Assumptor hereby represents and warrants, to the best of its knowledge, that no default, event of default, breach or failure of condition has
occurred, or would exist with notice or the lapse of time or both, under any of the Loan Documents, as modified by this Assumption Agreement, and all of its representations and warranties herein are true and correct. Borrower hereby represents and
warrants, to the best of its knowledge, that no default, event of default, breach or failure of condition has occurred, or would exist with notice or the lapse of time or both, under any of the Loan Documents, as modified by this Assumption
Agreement, and all of its representations and warranties herein and in the other Loan Documents are true and correct. 

  

	 	c.	Loan Documents. Assumptor represents and warrants to Noteholder that Assumptor has actual knowledge of all terms and conditions of the Loan Documents, and agrees
that Noteholder has no obligation or duty to provide any information to Assumptor regarding the terms and conditions of the Loan Documents. Assumptor further agrees that all representations, agreements and warranties in the Mortgage and Note
regarding Borrower, its status, authority, financial condition and business shall apply to Assumptor as of the date hereof, as though Assumptor were the borrower originally named in the Loan Documents, it being understood that Assumptor is making no
representation as to whether such matters are accurate prior to the date hereof or with respect to Borrower or any financial or other information provided by Borrower. Assumptor further understands and acknowledges that, except as expressly provided
in a writing executed by Noteholder, Noteholder has not waived any right of Noteholder or obligation of Borrower or Assumptor under the Loan Documents and Noteholder has not agreed to any modification of any provision of any Loan Document or to any
extension of the Loan. 

  

	 	d.	Financial Statements. Assumptor represents and warrants to Noteholder that the financial statements of Assumptor, of each member of Assumptor and of each New
Guarantor, if any, previously delivered by Borrower, Assumptor or any of such parties to Noteholder: (i) are materially complete and correct; (ii) present fairly the financial condition of each of such parties; and (iii) have been
prepared in accordance with generally accepted accounting principles consistently applied or other accounting standards approved by Noteholder. Assumptor further represents and warrants to Noteholder that, since the date of such financial
statements, there has been no material adverse change in the financial condition of any of such parties, nor have any assets or properties reflected on such financial statements been sold, transferred, assigned, mortgaged, pledged or encumbered
except as previously disclosed in writing by Assumptor to Noteholder and approved in writing by Noteholder. 

  
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	 	e.	Reports. Assumptor represents and warrants to Noteholder that, to Assumptor’s actual knowledge, all reports, documents, instruments and information
delivered to Noteholder by Assumptor in connection with Assumptor’s assumption of the Loan: (i) are correct and sufficiently complete to give Noteholder accurate knowledge of their subject matter; and (ii) do not contain any
misrepresentation of a material fact or omission of a material fact which omission makes the provided information misleading. 

  

	 	f.	Assumptor Location. Assumptor represents and warrants that its chief executive office is located at the following address: 518 17th Street, 17th Floor, Denver,
Colorado 80202. Assumptor represents and warrants that its state of formation is Delaware. All organizational documents of Assumptor delivered to Noteholder are complete and accurate in every respect. Assumptor’s legal name is exactly as shown
on page one of this Assumption Agreement. Assumptor shall not change Assumptor’s name or, as applicable, Assumptor’s chief executive office, or the jurisdiction in which Assumptor is organized, without giving Noteholder at least 30
days’ prior written notice. 

  

	 	g.	No Adverse Change. Assumptor and New Guarantor, each as to itself only, represent and warrant to Noteholder that since the date of the financial statements for
Assumptor and New Guarantor submitted by Assumptor in connection with its application to assume the Loan, there has occurred no adverse change in the financial condition of Assumptor or New Guarantor. 

 

	 	h.	No Pledge of Equity Interests. Assumptor and New Guarantor represent and warrant to Noteholder that no equity interest in Assumptor or in the member of Assumptor
has been pledged, hypothecated or otherwise encumbered as security for any obligation, and that no portion of the capital contributed to Assumptor, directly or indirectly, in connection with Assumptor’s acquisition of the Property consists of
borrowed funds. 

  

	 	i.	Embargoed Person. Assumptor and New Guarantor represent and warrant that none of the funds or other assets of Assumptor or New Guarantor constitute property of,
or are beneficially owned, directly or indirectly, by any person, entity or government subject to trade restrictions under U.S. law, including but not limited to, the USA PATRIOT Act (including the anti-terrorism provisions thereof), the
International Economic Powers Act, 50 U.S.C. §§ 1701, et. seq., the Trading with the Enemy Act, 50 U.S.C. App. 1 et. seq., and any Executive Orders or regulations promulgated thereunder, including those related to Specially Designated
Nationals and Specially Designated Global Terrorists (“Embargoed Person”) and further warrant and represent that no Embargoed Person has any interest of any nature whatsoever in Assumptor or New Guarantor with the result that the
investment in Assumptor (whether directly or indirectly) is prohibited by law. 

  
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	 	9.	Waiver of Acceleration. Noteholder hereby consents to the sale and conveyance of the Property and Collateral and agrees that it shall not exercise its
right to cause all sums secured by the Mortgage to become immediately due and payable because of the conveyance of the Property and the Collateral from Borrower to Assumptor; provided, however, Noteholder reserves its right under the
terms of the Mortgage or any other Loan Document to accelerate all principal and interest in the event of any subsequent sale, transfer, encumbrance or other conveyance of the Property, the Collateral or any interest in Assumptor, except as
permitted by the Loan Documents. 

  

	 	10.	Hazardous Materials. Without in any way limiting any other provision of this Assumption Agreement, Assumptor and Borrower expressly reaffirm as of the
date hereof, and Assumptor reaffirms continuing hereafter: (a) each and every representation and warranty in the Loan Documents respecting “Hazardous Materials”; and (b) each and every covenant and indemnity in the Loan
Documents respecting “Hazardous Materials”. 

  

	 	11.	Multiple Parties. If more than one person or entity has signed this Assumption Agreement as Assumptor or Borrower, then all references in this Assumption
Agreement to Assumptor or Borrower shall mean each and all of the persons so signing, as applicable. The liability of all persons and entities signing shall be joint and several with all others similarly liable. 

 

	 	12.	Confirmation of Security Interest. Nothing contained herein shall affect or be construed to affect any lien, charge or encumbrance created by any Loan
Document or the priority of that lien, charge or encumbrance. All assignments and transfers by Borrower to Assumptor are subject to any security interest(s) held by Noteholder. 

 

	 	13.	Notices. All notices to be given to Assumptor pursuant to the Loan Documents shall be addressed as follows: 

IIT Bolingbrook - Park 55 DC LLC 

518 17th Street, 17th Floor 
 Denver, Colorado 80202 
 Attn: Tom McGonagle 

Telephone: 303-226-9891 
  

	 	14.	Integration; Interpretation. The Loan Documents, including this Assumption Agreement, contain or expressly incorporate by reference the entire agreement
of the parties with respect to the matters contemplated herein and supersede all prior negotiations. The Loan Documents shall not be modified except by written instrument executed by Noteholder and Assumptor. Any reference in any of the Loan
Documents to the property or the Collateral shall include all or any parts of the Property or the Collateral. 

  
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	 	15.	Successors and Assigns. This Assumption Agreement is binding upon and shall inure to the benefit of the heirs, successors and assigns of the parties but
subject to all prohibitions of transfers contained in any Loan Document. 

  

	 	16.	Attorneys’ Fees; Enforcement. If any attorney is engaged by Noteholder to enforce, construe or defend any provision of this Assumption Agreement, or
as a consequence of any default under or breach of this Assumption Agreement, with or without the filing of any legal action or proceeding, Assumptor shall pay to Noteholder, upon demand, the amount of all attorneys’ fees and costs reasonably
incurred by Noteholder in connection therewith, together with interest thereon from the date of such demand at the rate of interest applicable to the principal balance of the Note as specified therein. 

 

	 	17.	Right of Transfer of Property. The parties acknowledge that Section 2.9 of the Mortgage provides that Noteholder shall consent to the voluntary sale
or exchange of all of the Property, all subject, however, to the terms and conditions set forth therein. The parties agree that this Assumption Agreement and the actions to be taken as contemplated herein shall constitute one such consent.

  

	 	18.	Deferred Maintenance. Assumptor covenants and agrees that it will, within 90 days of the Closing Date, repair or cause to have repaired, in a good and
workmanlike manner, all items listed as deferred maintenance on that certain Standard Inspection Form dated March 24, 2011 issued by Strategic Asset Services, LLC (the “Deferred Maintenance”). In the event that Assumptor has
not completed the Deferred Maintenance within such 90 day period, such failure will only constitute an Event of Default if Assumptor is not diligently pursuing such completion. In any event, the completion of such Deferred Maintenance shall cure any
Event of Default related thereto at the time of completion. 

  

	 	19.	Miscellaneous. 

  

	 	a.	 This Assumption Agreement shall be governed and interpreted in accordance with the laws of the jurisdiction(s) specified in the other Loan Documents as
governing the other Loan Documents. In any action brought or arising out of this Assumption Agreement, Borrower and Assumptor, and general partners, members and joint venturers of them, hereby consent to the jurisdiction of any state or federal
court having proper venue as specified in the other Loan Documents and also consent to the service of process by any means authorized by the law of such jurisdiction(s). Except as expressly provided otherwise herein, all terms used herein shall have
the meaning given to them in the Loan Documents. Time is of the essence of each term of the Loan Documents, including this Assumption Agreement. If any provision of this Assumption Agreement or any of the other Loan Documents shall be determined by
a court of competent jurisdiction to be invalid, illegal or unenforceable, that portion shall be deemed severed therefrom and the 

  
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remaining parts shall remain in full force as though the invalid, illegal, or unenforceable portion had not been a part thereof. 

 

	 	b.	Nothing contained in this Agreement shall be construed to impose any liability on New Guarantor for any obligations therein or under the Loan Documents (other than the
New Guaranty and the New Environmental Indemnity) it being understood that New Guarantor’s obligations are limited to those set forth in the New Guaranty and the New Environmental Indemnity. 

 

	 	20.	Counterparts. This Assumption Agreement may be executed in any number of counterparts, each of which when executed and delivered will be deemed an
original and all of which taken together will be deemed to be one and the same instrument. 

  

	 	21.	Amendment to Mortgage. As of the Effective Date the parties hereby amend the Mortgage as follows: 

 

	 	a.	Section 1.21 is deleted in its entirety. 

  

	 	b.	Section 2.9(c) is deleted in its entirety and replaced with the following: 

 Notwithstanding the foregoing or any other provision hereunder to the contrary, the following Transfers shall be permitted and shall not be deemed prohibited Transfers (and each shall be permitted
hereunder without the consent of the Lender or payment of any assumption fee and without any confirmation that there will not be an Adverse Rating Impact): (i) Transfers by holders of direct or indirect interests (each an “Interest
Holder”) in IIT Bolingbrook Park 55 DC, LLC (“New Borrower”), including those interests held, directly or indirectly, by Industrial Income Trust Inc. (“IIT”) or Industrial Income Operating Partnership (“IIOP”) to
another person or entity who is not an Interest Holder; (ii) any Transfer or issuance, from time to time, of any securities in IIT, or any operating units in IIOP; (iii) any Transfer or issuance from time to time, of the shares of stock or
assets in IIT or IIOP; (iv) any Transfer by operation of law resulting from the merger, consolidation, or non-bankruptcy reorganization, of IIT or IIOP; (v) the issuance, Transfer or listing of the securities in IIT or IIOP on a national
securities exchange; or (vi) the conversion of IIT or IIOP into an “Open End Fund”. In any event, all Transfers pursuant to this Section 2.9(c) shall be subject to IIT and IIOP continuing to maintain Control over New
Borrower. “Control” shall mean the ownership, directly or indirectly, of twenty percent (20%) or more of all equity interests in New Borrower as well as the possession, directly or indirectly, of the power to direct or cause the
direction of the management policies of New Borrower and the day to day operations of the Property.
  

	 	c.	Section 2.29(a) is amended to: 

  

	 	i)	Delete from subsection (2) “(including, without limitation, any co-tenancy agreement between any of the entities comprising Borrower)”;

  
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	 	ii)	Delete from subsection (5) “other than in respect to the joint and several liability each individual Borrower has with respect to the Loan, Leases and other
agreements with respect to the Property,”; 

  

	 	iii)	Add to subsection (7) “, sale” after the word “management”; 

 

	 	iv)	Delete from subsection (9) “thirty (30)” and replace it with “sixty (60)” and delete “and in an aggregate amount outstanding at any time
not to exceed five percent (5.0%) of the existing principal balance of the Note”; 

  

	 	v)	Delete from subsection (14) “with the exception of funds held in one or more bank accounts for the joint benefit of the entities comprising Borrower to hold
rents and other revenues,” and add to the end of said subsection “; except that Borrower’s assets may be included in a consolidated financial statement of its Affiliate so long as the consolidated financial statements contain a
generic note saying that the mortgage indebtedness of the consolidated entities is generally nonrecourse debt of separate real property owning entities;”; 

 

	 	vi)	Delete from subsection (16) “as” and replace it with “to the extent”; 

 

	 	vii)	Delete subsection (18) in its entirety; 

  

	 	viii)	Delete from subsection (19) “except for funds held in the accounts mentioned in (14) above,”; 

 

	 	ix)	Delete from subsection (20) “except for funds held in the accounts mentioned in (14) above,”; 

 

	 	x)	Delete from subsection (21) “other than in respect to the joint and several liability each individual Borrower has with respect to the Loan, Leases and other
agreements with respect to the Property,”; 

  

	 	xi)	Delete section (22) in its entirety; 

  

	 	xii)	Delete from subsection (23) “except for funds held in the accounts mentioned in (14) above” and “including salaries of its employees,”;

  

	 	xiii)	Add to the beginning of subsection (24) “to the extent that Borrower uses stationery, invoices or checks,”. 

 

	 	d.	Section 2.33 is deleted in its entirety. 

  

	 	e.	The text of section 4.1(n) is deleted in its entirety and replaced with “Borrower fails to enter into, implement or otherwise cooperate in the implementation of
the Cash Management Agreement on or before the Optional Prepayment Determination Date.” 

  

	 	f.	The last sentence of Section 6.5 is deleted in its entirety. 

  

	 	22.	Amendment to Note. As of the Effective Date the parties hereby amend the subsection 3.6(c) of the Note to: 

 

	 	i)	Add to the very end of subsection (iv) “which are not either applied to the ordinary and necessary expenses of owning and operating the Property or paid to
the Lender”; 

	 	ii)	Delete subsection (xi) in its entirety. 

 [SIGNATURE PAGES FOLLOW] 

  
 13 

 IN WITNESS WHEREOF, Noteholder, Assumptor, New Guarantor, Borrower, and Original Guarantor
have caused this Assumption Agreement to be duly executed as of the date first above written. 
  

					
	NOTEHOLDER:
	
	U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE, SUCCESSOR-IN-INTEREST TO BANK OF AMERICA, N.A., AS TRUSTEE, SUCCESSOR TO WELLS FARGO BANK, N.A., AS TRUSTEE, FOR THE
REGISTERED HOLDERS OF WACHOVIA BANK COMMERCIAL MORTGAGE TRUST, COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-C27
		
	By:	 	Wells Fargo, N.A., as successor by merger to Wachovia Bank, N.A., solely in its capacity as Master Servicer, as authorized under that certain Pooling and Servicing
Agreement dated as of August 1, 2006
			
		 	By:	 	/s/ Tracy Mills-Smith
		 	Name:	 	Tracy Mills-Smith
		 	Title:	 	Vice President

 
							
	ASSUMPTOR:
	
	 IIT Bolingbrook - Park 55 DC LLC, a Delaware
 limited liability company

		
	By:	 	 IIT Real Estate Holdco LLC, a Delaware
 limited liability company, Its Sole Member

			
		 	By:	 	 Industrial Income Operating
 Partnership LP, a Delaware limited
 partnership, Its Sole Member

			
		 	By:	 	 Industrial Income Trust Inc., a
 Maryland corporation, Its General
 Partner

				
		 		 	By:	 	/s/ Thomas G. McGonagle
		 		 	Name:	 	Thomas G. McGonagle
		 		 	Title:	 	CFO

  

					
	NEW GUARANTOR:
	
	Industrial Income Trust, Inc., a Maryland corporation
		
	By:	 	/s/ Thomas G. McGonagle
		 	Name:	 	Thomas G. McGonagle
		 	Title:	 	CFO

 
			
	BORROWER:
	
	Crossroads Bolingbrook, LLC, an Illinois limited liability company
		
	By:	 	/s/ John E. Shaffer
	Name:	 	John E. Shaffer
	Title:	 	Authorized Member of Board of Managers
	
	RES Crossroads Bolingbrook, LLC, a Delaware limited liability company
		
	By:	 	/s/ John E. Shaffer
	Name:	 	John E. Shaffer
	Title:	 	Manager
	
	ORIGINAL GUARANTOR:
	
	            /s/ Robert E. Smietana
	Robert E. Smietana, Individually
	
	            /s/ John E. Shaffer
	John E. Shaffer, Individually
	
	            /s/ Melissa S. Pielet
	Melissa S. Pielet, Individually

 ACKNOWLEDGMENT OF NOTEHOLDER 

 

					
	 STATE OF CALIFORNIA
	  	)	  	
		  	)	  	ss
	 COUNTY OF ALAMEDA
	  	)	  	

 On August 23 , 2011, before me, Wayne Ventus, Jr.,, the undersigned Notary Public in and for said County
and State, personally appeared Tracy Mills-Smith, who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. 

I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. 

WITNESS my hand and official seal. 
  

	
	            /s/ Wayne Ventus, Jr.
	Notary Public

 My Commission Expires: 
     June 9, 2015 

 ACKNOWLEDGMENT OF ASSUMPTOR 

 

					
	 STATE OF Colorado
	  	)	  	
		  	)	  	ss
	 COUNTY OF Denver
	  	)	  	

 On August 23, 2011, before me, the undersigned Notary Public in and for said County and State,
personally appeared Thomas G. McGonagle, who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their
authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. 
 WITNESS my hand and official seal. 
  

	
	            /s/ Wendy E. Casady
	Notary Public

 My Commission Expires: 
     January 29, 2014 
 ACKNOWLEDGMENT OF NEW
GUARANTOR 
  

					
	 STATE OF Colorado
	  	)	  	
		  	)	  	ss
	 COUNTY OF Denver
	  	)	  	

 On August 23, 2011, before me, the undersigned Notary Public in and for said County and State,
personally appeared Thomas G. McGonagle, who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their
authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. 
 WITNESS my hand and official seal. 
  

	
	            /s/ Wendy E. Casady
	Notary Public

 My Commission Expires: 
     January 29, 2014 

 ACKNOWLEDGMENT OF BORROWER 

 

					
	 STATE OF Illinois
	  	)	  	
		  	)	  	ss
	 COUNTY OF Cook
	  	)	  	

 On August 24, 2011, before me, the undersigned Notary Public in and for said County and State,
personally appeared John E. Shaffer, who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their
authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. 
 WITNESS my hand and official seal. 
  

	
	            /s/ Grace Fill
	Notary Public

 My Commission Expires: 
     July 28, 2013 
 ACKNOWLEDGMENT OF ORIGINAL
GUARANTOR 
  

					
	 STATE OF Illinois
	  	)	  	
		  	)	  	ss
	 COUNTY OF Cook
	  	)	  	

 On August 24, 2011, before me, the undersigned Notary Public in and for said County and State, personally
appeared John E. Shaffer, who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized
capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. 
 WITNESS my hand and official seal. 
  

	
	            /s/ Grace Fill
	Notary Public

 My Commission Expires: 
     July 28, 2013 

 ACKNOWLEDGMENT OF ORIGINAL GUARANTOR 

 

					
	 STATE OF Illinois
	  	)	  	
		  	)	  	ss
	 COUNTY OF Cook
	  	)	  	

 On August 24, 2011, before me, the undersigned Notary Public in and for said County and State,
personally appeared Robert E. Smietana, who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their
authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. 
 WITNESS my hand and official seal. 
  

	
	            /s/ Grace Fill
	Notary Public

 My Commission Expires: 
     July 28, 2013 
 ACKNOWLEDGMENT OF ORIGINAL GUARANTOR

  

					
	 STATE OF Illinois
	  	)	  	
		  	)	  	ss
	 COUNTY OF Cook
	  	)	  	

 On August 24, 2011, before me, the undersigned Notary Public in and for said County and State, personally
appeared Melissa S. Pielet, who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized
capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. 
 WITNESS my hand and official seal. 
  

	
	            /s/ Grace Fill
	Notary Public

 My Commission Expires: 
 July 28, 2013 

 EXHIBIT A 
 TO ASSUMPTION AGREEMENT 
  

					
	 PREPARED BY AND
	  	)	  	
	 WHEN RECORDED MAIL TO:
	  	)	  	
		  	)	  	
	 Anderson, McCoy & Orta, P.C.
	  	)	  	
	 100 N. Broadway, Suite 2600
	  	)	  	
	 Oklahoma City, Oklahoma 73102
	  	)	  	
	 Attn: Mike Anderson
	  	)	  	
	 Loan No. 50-2855974
	  	)	  	

 Tax Parcel No. 02-28-201-003 
 MEMORANDUM OF ASSUMPTION AGREEMENT 
 Crossroads
Bolingbrook, LLC, an Illinois limited liability company and RES Crossroads Bolingbrook, LLC, a Delaware limited liability company, with a mailing address at 233 South Wacker Drive, Suite 350, Chicago, IL 60606 (collectively tenant-in-common
“Borrower”), Robert E. Smietana, John E. Shaffer and Melissa S. Pielet, each an individual, with a mailing address at 336 Warwick Road, Kenilworth, IL 60043, 1135 Forest Avenue, River Forest, IL 60305, and 2027 Partridge Lane,
Highland Park, IL 60035, respectively (collectively “Original Guarantor”), IIT Bolingbrook - Park 55 DC LLC, a Delaware limited liability company, with a mailing address at 518 17th Street, 17th Floor, Denver, Colorado 80202
(“Assumptor”), Industrial Income Trust, Inc., a Maryland corporation, with a mailing address at 518 17th Street, Denver, Colorado 80202 (“New Guarantor”), and U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE,
SUCCESSOR-IN-INTEREST TO BANK OF AMERICA, N.A., AS TRUSTEE, SUCCESSOR TO WELLS FARGO BANK, N.A., AS TRUSTEE, FOR THE REGISTERED HOLDERS OF WACHOVIA BANK COMMERCIAL MORTGAGE TRUST, COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-C27, with
a mailing address c/o Wells Fargo Bank, N. A., Commercial Mortgage Servicing, 1901 Harrison Street, 2nd Floor, Oakland, CA 94612 (“Noteholder”), are parties to that certain ASSUMPTION AGREEMENT dated of even date herewith (“Assumption Agreement”). The undersigned parties
agree that all obligations under that certain Promissory Note (“Note”) dated June 23, 2006, in the original principal amount of Six Million Three Hundred Fifty Thousand and no/100 Dollars ($6,350,000.00), secured by that
certain Mortgage, Security Agreement and Fixture Filing executed by Borrower and recorded on June 28, 2006, as Document No. R2006106022 with the Will County Recorder, State of Illinois (“Official Records”), the Original
Lender’s interest under which was assigned to Noteholder by instrument recorded on August 13, 2009, as Document No. R2009099024, in said Official Records; that certain Assignment of Leases and Rents executed by Borrower, which was recorded
on June 28, 2006, as Document No. R2006106023, with said Official Records, the Original Lender’s interest under which was assigned to Noteholder by instrument recorded on August 13, 2009, as Document No. R2009099024 in said Official
Records; that certain UCC-1 Financing Statement filed on July 11, 2006, as Document No. R2006112540/U2006000415 with said Official Records; and all 

 
other Loan Documents (as defined in the Assumption Agreement) securing the real property described on EXHIBIT A, have been assumed by Assumptor upon the terms and conditions set
forth in the Assumption Agreement. The Assumption Agreement is by this reference incorporated herein and made a part hereof. This Memorandum of Assumption Agreement may be executed in any number of counterparts, each of which when executed and
delivered will be deemed an original and all of which taken together will be deemed to be one and the same instrument. 
 Dated:
                    , 2011Promissory Note

 EXHIBIT 10.83 

 

			
	 Loan No.: 50-2855974
	  	Power Retail Systems Industrial Building

 PROMISSORY NOTE 

 

			
	 $6,350,000.00
	  	June 23, 2006

 FOR VALUE RECEIVED, the undersigned, CROSSROADS BOLINGBROOK, LLC, an Illinois limited liability company
and RES CROSSROADS BOLINGBROOK, LLC, a Delaware limited liability company (singularly and collectively, “Borrower”), each having an address at 180 N. Wacker Drive, #500, Chicago, Illinois 60606, jointly and severally promise
to pay to the order of WACHOVIA BANK, NATIONAL ASSOCIATION, a national banking association (together with its successors and assigns, “Lender”), at the office of Lender at Commercial Real Estate Services, 8739 Research Drive
URP - 4, NC 1075, Charlotte, North Carolina 28262, or at such other place as Lender may designate to Borrower in writing from time to time, the principal sum of Six Million Three Hundred Fifty Thousand and No/100 Dollars ($6,350,000.00), together
with interest on so much thereof as is from time to time outstanding and unpaid, from the date of the advance of the principal evidenced hereby, at the rate of the Note Rate (as hereinafter defined), together with all other amounts due hereunder or
under the other Loan Documents (as defined herein), in lawful money of the United States of America, which shall at the time of payment be legal tender in payment of all debts and dues, public and private. 

ARTICLE I. - TERMS AND CONDITIONS 
 1.1. Note Rate. The term “Note Rate” as used in this Note shall mean (a) from the date of this Note through but not including the Optional Prepayment Date (as
hereinafter defined), a rate per annum equal to six and twenty-four one hundredths percent (6.24%) (the “Initial Interest Rate”), and (b) from the Optional Prepayment Date through and including the date this Note is
paid in full, a rate per annum equal to the greater of (i) the Initial Interest Rate plus two and one-half percent (2.5%) or (ii) the Treasury Constant Maturity Yield Index (as hereinafter defined) plus two and one-half percent
(2.5%) ((i) or (ii), as applicable (the “Revised Interest Rate”). For purposes of this Section 1.1, the term “Treasury Constant Maturity Yield Index” shall mean the average yield for
“This Week” as reported by the Federal Reserve Board in Federal Statistical Release H.15 (519) published during the second full week preceding the Optional Prepayment Date, for instruments having a maturity coterminous
with the remaining term of this Note. If there is no Treasury Constant Maturity Yield Index for instruments having a maturity coterminous with the remaining term of this Note, then the index shall be equal to the weighted average yield to maturity
of the Treasury Constant Maturity Yield Indices with maturities next longer and shorter than such remaining average life to maturity, calculated by averaging (and rounding upward to the nearest whole multiple of 1/100 of 1% per annum, if the
average is not such a multiple) the yields of the relevant Treasury Constant Maturity Yield Indices (rounded, if necessary, to the nearest 1/100 of 1% with any figure of 1/200 of 1% or above rounded upward). If such Release is not available or no
longer published, Lender may refer to another recognized source of financial market information. 

 1.2. Computation of Interest. Interest shall be computed hereunder based on a 360-day
year and based on the actual number of days elapsed for any period in which interest is being calculated including, without limitation, the Interest Only Period (hereinafter defined), as more particularly set forth on Annex 1 attached hereto
and incorporated by this reference. Interest shall accrue from the date on which funds are advanced hereunder (regardless of the time of day) through and including the day on which funds are credited pursuant to Section 1.3 hereof.

 1.3. Payment of Principal and Interest. Payments in federal funds immediately available at the
place designated for payment received by Lender prior to 2:00 p.m. local time on a day on which Lender is open for business at said place of payment shall be credited prior to close of business, while other payments, at the option of Lender, may not
be credited until immediately available to Lender in federal funds at the place designated for payment prior to 2:00 p.m. local time on the next day on which Lender is open for business. Interest only shall be payable in sixty (60) consecutive
monthly installments in the amount set forth on Annex 1, beginning on August 11, 2006 (the “First Payment Date”), and continuing on the eleventh (11th) day of each and every calendar month thereafter through and including July 11, 2011 (the
“Interest Only Period”) and, thereafter, principal and interest shall be payable in equal consecutive monthly installments of $39,056.75 each, beginning on August 11, 2011 and continuing on the eleventh (11th) day of each and
every calendar month thereafter through and including June 11, 2016 (each, a “Payment Date”). On July 11, 2016 (the “Maturity Date” or the “Optional Prepayment Date”)
(provided that in the event that there is a Defeasance of the Loan pursuant to Section 1.6(d) hereof, the Maturity Date shall automatically be the Optional Prepayment Determination Date (as hereinafter defined)), the entire outstanding
principal balance hereof, together with all accrued but unpaid interest thereon, shall be due and payable in full; provided, however, that in the event that such amounts are not paid on or before such date, the Maturity Date shall be
extended to July 11, 2021 (the “Extended Maturity Date”). If all amounts are not paid on or before the Optional Prepayment Determination Date, each eleventh (11th) day of each and every calendar month from the Optional Prepayment Determination Date through the eleventh (11th) day of the calendar month which is immediately prior to the
Extended Maturity Date shall be Payment Date. 
 Borrower hereby authorizes Lender to use its automated loan payment service
pursuant to which on each Payment Date Borrower shall have its monthly payments of principal (to the extent applicable) and interest payments together with any other sums then due to Lender automatically drawn by Lender or its servicer in accordance
with that certain Auto-Draft Request Form by and between Borrower and Lender executed in connection with the Loan (as defined in the Security Instrument (as hereinafter defined)). 

In the event that, on any Payment Date, there are insufficient funds in such account for sums due to Lender, then Lender shall be
permitted to withdraw sums from such account on any day thereafter until such time as all payments due to Lender have been drawn from such account; provided, however, the foregoing shall in no event limit or otherwise modify Borrower’s
obligations to make payments of principal and interest and other sums due hereunder or under any other Loan Document. 
 1.4.
Application of Payments. So long as no Event of Default (as hereinafter defined) exists hereunder or under any other Loan Document, each such monthly installment shall be 

  
 2 

 
applied, first, to any amounts hereafter advanced by Lender hereunder or under any other Loan Document, second, to any late fees and other amounts payable to Lender, third, to the payment of
accrued interest and last to reduction of principal, and from and after the Optional Prepayment Date, as provided in Section 2.2 of this Note. 
 1.5. Payment of “Short Interest”. If the advance of the principal amount evidenced by this Note is made on a date other than a Payment Date, Borrower shall pay to Lender contemporaneously
with the execution hereof interest at the Note Rate for a period from the date hereof through and including the tenth
(10th) day of either (x) this month, in the
event that the date hereof is on or prior to the 11th of
the month, and (y) the immediately succeeding month, in the event that the date hereof is after the 11th of the month. 
 1.6. Prepayment; Defeasance. 

(a) This Note may not be prepaid, in whole or in part (except as otherwise specifically provided herein), at any time
prior to the Optional Prepayment Determination Date (as hereinafter defined). In the event that Borrower wishes to have the Property (as hereinafter defined) released from the lien of the Security Instrument prior to the Optional Prepayment
Determination Date, Borrower’s sole option shall be a Defeasance (as hereinafter defined) upon satisfaction of the terms and conditions set forth in Section 1.6(d) hereof. This Note may be prepaid in whole but not in part without
premium or penalty on any Payment Date occurring on or after the Optional Prepayment Determination Date provided (i) written notice of such prepayment is received by Lender not more than ninety (90) days and not less than thirty
(30) days prior to the date of such prepayment, and (ii) such prepayment is accompanied by all interest accrued hereunder through and including the date of such prepayment and all other sums due hereunder or under the other Loan Documents.
If, upon any such permitted prepayment on any Payment Date occurring on or after the Optional Prepayment Determination Date, the aforesaid prior written notice has not been timely received by Lender, there shall be due a prepayment fee equal to the
lesser of (i) thirty (30) days’ interest computed at the Note Rate on the outstanding principal balance of this Note so prepaid and (ii) interest computed at the Note Rate on the outstanding principal balance of this Note so
prepaid that would have been payable for the period from, and including, the date of prepayment through the Maturity Date, or the Extended Maturity Date, as the case may be as though such prepayment had not occurred. 

(b) If, prior to the Optional Prepayment Determination Date, the indebtedness evidenced by this Note shall have been
declared due and payable by Lender pursuant to Article III hereof or the provisions of any other Loan Document due to a default by Borrower, then, in addition to the indebtedness evidenced by this Note being immediately due and payable, there shall
also then be immediately due and payable a prepayment fee in an amount equal to the Yield Maintenance Premium (as hereinafter defined) based on the entire indebtedness on the date of such acceleration. In addition to the amounts described in the
preceding sentence, in the event of any such acceleration or tender of payment of such indebtedness occurs or is made on or prior to the first (1st) anniversary of the date of this Note, there shall also then be immediately due and payable an
additional prepayment fee of three percent (3%) of the principal balance of this Note. The term “Yield Maintenance Premium” shall mean an amount equal to the greater of (A) two percent (2.0%) of the principal
amount being prepaid, and (B) the present value of a series of payments each equal to the Payment Differential (as hereinafter defined) and payable on each 

  
 3 

 
Payment Date over the remaining original term of this Note and on the Maturity Date, discounted at the Reinvestment Yield (as hereinafter defined) for the number of months remaining as of the
date of such prepayment to each such Payment Date and the Maturity Date. The term “Payment Differential” shall mean an amount equal to (i) the Note Rate less the Reinvestment Yield, divided by (ii) twelve
(12) and multiplied by (iii) the principal sum outstanding under this Note after application of the constant monthly payment due under this Note on the date of such prepayment, provided that the Payment Differential shall in no event be
less than zero. The term “Reinvestment Yield” shall mean an amount equal to the lesser of (i) the yield on the U.S. Treasury issue (primary issue) with a maturity date closest to the Maturity Date, or (ii) the yield
on the U.S. Treasury issue (primary issue) with a term equal to the remaining average life of the indebtedness evidenced by this Note, with each such yield being based on the bid price for such issue as published in the Wall Street Journal on the
date that is fourteen (14) days prior to the date of such prepayment (or, if such bid price is not published on that date, the next preceding date on which such bid price is so published) and converted to a monthly compounded nominal yield. In
the event that any prepayment fee is due hereunder, Lender shall deliver to Borrower a statement setting forth the amount and determination of the prepayment fee, and, provided that Lender shall have in good faith applied the formula described
above, Borrower shall not have the right to challenge the calculation or the method of calculation set forth in any such statement in the absence of manifest error, which calculation may be made by Lender on any day during the fifteen (15) day
period preceding the date of such prepayment. Lender shall not be obligated or required to have actually reinvested the prepaid principal balance at the Reinvestment Yield or otherwise as a condition to receiving the prepayment fee. 

(c) Partial prepayments of this Note shall not be permitted, except for partial prepayments resulting from Lender’s
election to apply insurance or condemnation proceeds to reduce the outstanding principal balance of this Note as provided in the Security Instrument, in which event no prepayment fee or premium shall be due unless, at the time of either
Lender’s receipt of such proceeds or the application of such proceeds to the outstanding principal balance of this Note, an Event of Default shall exist, or an event which, with notice or the passage of time, or both, would constitute an Event
of Default, shall exist, which default or Event of Default is unrelated to the applicable casualty or condemnation, in which event the applicable prepayment fee or premium shall be due and payable based upon the amount of the prepayment. No notice
of prepayment shall be required under the circumstances specified in the preceding sentence. No principal amount repaid may be reborrowed. Any such partial prepayments of principal shall be applied to the unpaid principal balance evidenced hereby
but such application shall not reduce the amount of the fixed monthly installments required to be paid pursuant to Section 1.3 above. Except as otherwise expressly provided in this Section, the prepayment fees provided above shall be
due, to the extent permitted by applicable law, under any and all circumstances where all or any portion of this Note is paid prior to the Maturity Date, whether such prepayment is voluntary or involuntary, including, without limitation, if such
prepayment results from Lender’s exercise of its rights upon Borrower’s default and acceleration of the Maturity Date of this Note (irrespective of whether foreclosure proceedings have been commenced), and shall be in addition to any other
sums due hereunder or under any of the other Loan Documents. No tender of a prepayment of this Note with respect to which a prepayment fee is due shall be effective unless such prepayment is accompanied by the applicable prepayment fee.

  
 4 

 
(d) (i) On any Payment Date on or after the earlier to occur of (x) three (3) years following the First Payment Date hereunder, and (y) the day immediately following the date
which is two (2) years after the “startup day,” within the meaning of Section 860G(a) (9) of the Internal Revenue Code of 1986, as amended from time to time or any successor statute (the “Code”), of a
“real estate mortgage investment conduit,” within the meaning of Section 860D of the Code (a “REMIC Trust”), that holds this Note, and provided no Event of Default has occurred and is continuing hereunder or
under any of the other Loan Documents, at Borrower’s option, Lender shall cause the release of the Property from the lien of the Security Instrument and the other Loan Documents (a “Defeasance”) upon the satisfaction of
the following conditions: 
 (A) Borrower shall give not more than ninety (90) days’ or less than sixty
(60) days’ prior written notice to Lender specifying the date Borrower intends for the Defeasance to be consummated (the “Release Date”), which date shall be a Payment Date. 

(B) All accrued and unpaid interest and all other sums due under this Note and under the other Loan Documents up to and
including the Release Date shall be paid in full on or prior to the Release Date. 
 (C) Borrower shall deliver
to Lender on or prior to the Release Date: 
  

	 	(1)	 a sum of money in immediately available funds (the “Defeasance Deposit”) equal to the outstanding principal balance of this
Note plus an amount, if any, which together with the outstanding principal balance of this Note, shall be sufficient to enable Lender to purchase, through means and sources customarily employed and available to Lender, for the account of Borrower,
(x) direct, non-callable, fixed rate obligations of the United States of America or (y) non-callable, fixed rate obligations, other than U.S. Treasury Obligations, that are “government securities” within the meaning of
Section 2(a)(16) of the Investment Company Act of 1940, as amended, that provide for payments prior, but as close as possible, to all successive monthly Payment Dates occurring after the Release Date and to the Optional Prepayment Determination
Date, with each such payment being equal to or greater than the amount of the corresponding installment of principal and/or interest required to be paid under this Note (including, but not limited to, the scheduled outstanding principal balance of
the Loan due on the Maturity Date based upon payments of principal and interest through the Optional Prepayment Determination Date) for the balance of the original term hereof (the “Defeasance Collateral”), each of which
shall be duly endorsed by the holder thereof as directed by Lender or accompanied by a written instrument of transfer in form and substance satisfactory to Lender in its sole discretion (including, without limitation, such instruments as may be
required by the depository institution holding such securities or 

  
 5 

	 	
the issuer thereof, as the case may be, to effectuate book-entry transfers and pledges through the book-entry facilities of such institution) in order to perfect upon the delivery of the
Defeasance Security Agreement (as hereinafter defined) the first priority security interest in the Defeasance Collateral in favor of Lender in conformity with all applicable state and federal laws governing granting of such security interests.

  

	 	(2)	a pledge and security agreement, in form and substance reasonably satisfactory to Lender, creating a first priority security interest in favor of Lender in the
Defeasance Collateral (the “Defeasance Security Agreement”); 

  

	 	(3)	a certificate of Borrower certifying that all of the requirements set forth in this subsection 1 6(d)(i) have been satisfied; 

 

	 	(4)	one or more opinions of counsel for Borrower in form and substance and delivered by counsel which would be reasonably satisfactory to Lender stating, among other
things, that (i) Lender has a perfected first priority security interest in the Defeasance Collateral and that the Defeasance Security Agreement is enforceable against Borrower in accordance with its terms, (ii) in the event of a
bankruptcy proceeding or similar occurrence with respect to Borrower, none of the Defeasance Collateral nor any proceeds thereof will be property of Borrower’s estate under Section 541 of the U.S. Bankruptcy Code, as amended, or any
similar statute and the grant of security interest therein to Lender shall not constitute an avoidable preference under Section 547 of the U.S. Bankruptcy Code, as amended, or applicable state law, (iii) the release of the lien of the
Security Instrument and the pledge of Defeasance Collateral will not directly or indirectly result in or cause any REMIC Trust that then holds this Note to fail to maintain its status as a REMIC Trust and (iv) the defeasance will not cause any
REMIC Trust to be an “investment company” under the Investment Company Act of 1940; 

  

	 	(5)	evidence in writing from any applicable Rating Agency (as defined in the Security Instrument) to the effect that the Defeasance will not result in a downgrading,
withdrawal or qualification of the respective ratings in effect immediately prior to such Defeasance for any Securities (as hereinafter defined) issued in connection with the securitization which are then outstanding; provided, however, no evidence
from a Rating Agency shall be required if this Note does not meet the then-current review requirements of such Rating Agency. 

  
 6 

	 	(6)	a certificate in form and scope acceptable to Lender in its reasonable discretion from an acceptable independent accountant certifying that the Defeasance Collateral
will generate amounts sufficient to make all payments of principal and interest due under this Note through the Optional Prepayment Determination Date and the outstanding principal balance of the Loan due on the Maturity Date based upon payments of
principal and interest through the Optional Prepayment Determination Date; 

  

	 	(7)	Borrower and any guarantor or indemnitor of Borrower’s obligations under the Loan Documents for which Borrower has personal liability executes and delivers to
Lender such documents and agreements as Lender shall reasonably require to evidence and effectuate the ratification of such personal liability and guaranty or indemnity, respectively; 

 

	 	(8)	such other certificates, documents or instruments as Lender may reasonably require; and 

 

	 	(9)	payment of all fees, costs, expenses and charges incurred by Lender in connection with the Defeasance of the Property and the purchase of the Defeasance Collateral,
including, without limitation, all reasonable legal fees and costs and expenses incurred by Lender or its agents in connection with release of the Property, review of the proposed Defeasance Collateral and preparation of the Defeasance Security
Agreement and related documentation, any revenue, documentary, stamp, intangible or other taxes, charges or fees due in connection with transfer of the Note, assumption of the Note, or substitution of collateral for the Property shall be paid on or
before the Release Date. Without limiting Borrower’s obligations with respect thereto, Lender shall be entitled to deduct all such fees, costs, expenses and charges from the Defeasance Deposit to the extent of any portion of the Defeasance
Deposit which exceeds the amount necessary to purchase the Defeasance Collateral. 

 (D) In
connection with the Defeasance Deposit, Borrower hereby authorizes and directs Lender using the means and sources customarily employed and available to Lender to use the Defeasance Deposit to purchase for the account of Borrower the Defeasance
Collateral. Furthermore, the Defeasance Collateral shall be arranged such that payments received from such Defeasance Collateral shall be paid directly to Lender to be applied on account of the indebtedness of this Note. Any part of the Defeasance
Deposit in excess of the amount necessary to purchase the Defeasance Collateral and to pay the other and related costs Borrower is obligated to pay under this Section 1.6 shall be refunded to Borrower. 

  
 7 

 (ii) Upon compliance with the requirements of subsection 1.6(d)(i), the
Property shall be released from the lien of the Security Instrument and the other Loan Documents, and the Defeasance Collateral shall constitute collateral which shall secure this Note and all other obligations under the Loan Documents. Lender will,
at Borrower’s expense, execute and deliver any agreements reasonably requested by Borrower to release the lien of the Security Instrument from the Property. 

(iii) Upon the release of the Property in accordance with this Section 1.6(d), Borrower shall assign all its
obligations and rights under this Note, together with the pledged Defeasance Collateral, to a newly created successor entity which complies with the terms of Section 2.29 of the Security Instrument designated by Lender in its sole
discretion. Such successor entity shall execute an assumption agreement in form and substance satisfactory to Lender in its sole discretion pursuant to which it shall assume Borrower’s obligations under this Note and the Defeasance Security
Agreement. As conditions to such assignment and assumption, Borrower shall (x) deliver to Lender an opinion of counsel in form and substance reasonably satisfactory to a prudent lender and delivered by counsel reasonably satisfactory to a
prudent lender stating, among other things, that such assumption agreement is enforceable against Borrower and such successor entity in accordance with its terms and that this Note and the Defeasance Security Agreement as so assumed, are enforceable
against such successor entity in accordance with their respective terms, and (y) pay all costs and expenses (including, but not limited to, reasonable legal fees) incurred by Lender or its agents in connection with such assignment and
assumption (including, without limitation, the review of the proposed transferee and the preparation of the assumption agreement and related documentation). Upon such assumption, Borrower shall be relieved of its obligations hereunder, under the
other Loan Documents other than as specified in Section 1.6(d)(i)(C)(7) above and under the Defeasance Security Agreement (or other Defeasance document). 
 1.7. Security. The indebtedness evidenced by this Note and the obligations created hereby are secured by, among other things, that certain mortgage, deed of trust or deed to secure debt, security
agreement and fixture filing (the “Security Instrument”) from Borrower for the benefit of Lender, dated of even date herewith, covering the Property. The Security Instrument, together with this Note and all other documents to
or of which Lender is a party or beneficiary now or hereafter evidencing, securing, guarantying, modifying or otherwise relating to the indebtedness evidenced hereby, are herein referred to collectively as the “Loan Documents”.
All of the terms and provisions of the Loan Documents are incorporated herein by reference. Some of the Loan Documents are to be filed for record on or about the date hereof in the appropriate public records. 

ARTICLE II. - OPTIONAL PREPAYMENT DATE PROVISIONS 
 2.1. The following subsections shall only apply from and after May 11, 2016 (the “Optional Prepayment Determination Date”): 

(a) Except as hereinafter set forth in subsection (e) of this Section 2.1, Borrower shall be obligated to
pay, and Lender shall collect from the Rent Account (as defined 

  
 8 

 
in the Security Instrument) to the extent of funds on deposit in such account, on the Optional Prepayment Determination Date the following payments in the listed order of priority: 

(i) First, the payment of the amount set forth in Section 1.3 of this Note (the “Monthly Debt Service Payment
Amount”) to be applied first to the payment of interest computed at the Initial Interest Rate with the remainder applied to the reduction of the outstanding principal balance of this Note; 

(ii) Second, payments to the Impound Account (as defined in the Security Instrument) in accordance with the terms and conditions of the
Security Instrument; 
 (iii) Third, payments to the Replacement Reserve (as defined in the Security Instrument) in accordance
with the terms and conditions of the Security Instrument; 
 (iv) Fourth, payments for monthly Cash Expenses (as hereinafter
defined), less management fees payable to affiliates of Borrower, pursuant to the terms and conditions of the related Approved Annual Budget (as hereinafter defined); 
 (v) Fifth, payment for Extraordinary Expenses (as hereinafter defined) approved by Lender, if any; 
 (vi) Sixth, payments of any other amounts due under the Loan Documents; and 

(vii) Lastly, any excess amounts shall remain on deposit in the Rent Account. 

(b) For the calendar year in which the Optional Prepayment Determination Date occurs and for each calendar year
thereafter, Borrower shall submit to Lender for Lender’s written approval an annual budget (an “Annual Budget”) not later than (i) the Optional Prepayment Determination Date for the calendar year in which the
Optional Prepayment Determination Date occurs and (ii) sixty (60) days prior to the commencement of each calendar year thereafter, in form satisfactory to Lender setting forth in reasonable detail budgeted monthly operating income and
monthly operating capital and other expenses for the Property. Each Annual Budget shall contain, among other things, limitations on management fees, third party service fees and other expenses as Borrower may reasonably determine. Lender shall have
the right to approve such Annual Budget (which approval shall not be unreasonably withheld) and in the event that Lender objects to the proposed Annual Budget submitted by Borrower, Lender shall advise Borrower of such objections within fifteen
(15) days after receipt thereof (and deliver to Borrower a reasonably detailed description of such objections) and Borrower shall, within three (3) days after receipt of notice of any such objections, revise such Annual Budget and resubmit
the same to Lender. Lender shall advise Borrower of any objections to such revised Annual Budget within ten (10) days after receipt thereof (and deliver to Borrower a reasonably detailed description of such objections) and Borrower shall revise
the same in accordance with the process described in this subsection until Lender approves an Annual Budget, provided, however, that if Lender shall not advise Borrower of its objections to any proposed Annual Budget within the applicable time
period set forth in this subsection, then such proposed Annual Budget shall be deemed approved by Lender. Each such Annual Budget 

  
 9 

 
approved by Lender in accordance with terms hereof shall hereinafter be referred to as an “Approved Annual Budget.” Until such time that Lender approves a proposed Annual
Budget, the most recently Approved Annual Budget shall apply; provided, that such Approved Annual Budget shall be adjusted to reflect actual increases in real estate taxes, insurance premiums and utilities expenses. 

(c) In the event that Borrower must incur an extraordinary operating expense or capital expense not set forth in the
Annual Budget or allotted for in the Replacement Reserve (each, an “Extraordinary Expense”), then Borrower shall promptly deliver to Lender a reasonably detailed explanation of such proposed
Extraordinary Expense for Lender’s approval, which approval shall not be unreasonably withheld. 
 (d) For
the purposes of this Note, “Cash Expenses” shall mean, for any period, the operating expenses for the operation and maintenance of the Property as set forth in an Approved Annual Budget to the extent that such
expenses are actually incurred by Borrower excluding payments into the Impound Account and the Replacement Reserve and expenses for which Borrower shall be reimbursed from, or which shall be paid for out of, any such account or reserve. 

(e) Notwithstanding the other provisions of this Section 2.1, in the event that, prior to the Optional
Prepayment Determination Date, Borrower delivers to Lender either (i) a written commitment (the “Commitment”) for the refinancing of the loan evidenced by this Note from a Qualified Institutional Lender (as
hereinafter defined), which reasonably provides for the consummation of such refinance prior to the Optional Prepayment Date or (ii) other evidence in form and substance satisfactory to Lender in its sole determination of Borrower’s
ability to refinance the loan evidenced by this Note prior to the Optional Prepayment Date, then, solely in either such event, the terms of Section 2.1(a), (b), (c) and (d) of this Note and Section 3.6
of the Security Instrument shall be inoperative, provided, however, that upon (x) the failure of such refinance to be consummated in accordance with the terms of the Commitment or such other evidence, as applicable, (y) the termination of
the Commitment for any reason or (z) any material adverse change in circumstances with respect to Borrower or any principals of Borrower, the Property, the proposed lender or otherwise, as determined by Lender in its sole determination, which,
in Lender’s reasonable judgment, significantly decreases the likelihood of such refinance being consummated prior to the Optional Prepayment Date, the terms of Section 2.1 (a), (b), (c) and (d) of this
Note and Section 1.35 of the Security Instrument shall immediately become operative and Borrower shall immediately comply with any of the terms thereof which, except for the operation of this subsection (e), Borrower would theretofore have been
obligated to comply. “Qualified Institutional Lender” shall mean a financial institution or other lender with a long term credit rating which is not less than investment grade. The determination of whether the conditions set
forth in clause (i) or (ii) above, shall be made and notice of such determination shall be delivered to Borrower, within ten (10) business days following Lender’s receipt of the items set forth in such clauses. 

2.2. In the event that Borrower does not prepay the entire principal balance of this Note and any other amounts outstanding under this
Note or any of the other Loan Documents on or prior to the Optional Prepayment Date, the provisions of Section 2.1(b), (c) and (d) as set forth above shall remain in full force and effect, and the following
subsections also shall apply: 

  
 10 

 (a) From and after the Optional Prepayment Date, interest shall accrue on
the unpaid principal balance from time to time outstanding under this Note at the Revised Interest Rate. Interest accrued at the Revised Interest Rate and not paid pursuant to this Section 2.2 shall be deferred and added to the principal
balance of this Note and shall earn interest at the Revised Interest Rate to the extent permitted by applicable law (such accrued interest is hereinafter referred to as “Accrued Interest”). All of the unpaid
principal balance of this Note, including, without limitation, any Accrued Interest, shall be due and payable on the Extended Maturity Date. 
 (b) Borrower shall be obligated to pay, and Lender shall collect from the Rent Account to the extent of funds on deposit in such account, on the Optional Prepayment Date and on the eleventh
(11th) day of each calendar month thereafter to and including the Extended Maturity Date the following payments from Rents (as defined in the Security Instrument) received on or before such day in the listed order of priority: 

(i) First, the payment of the Monthly Debt Service Payment Amount to be applied first to the payment of interest computed at the Initial
Interest Rate with the remainder applied to the reduction of the outstanding principal balance of this Note; 
 (ii) Second,
payments to the Impound Account in accordance with the terms and conditions of the Security Instrument; 
 (iii) Third, payments
to the Replacement Reserve in accordance with the terms and conditions of the Security Instrument; 
 (iv) Fourth, payments for
monthly Cash Expenses, less management fees payable to affiliates of Borrower, pursuant to the terms and conditions of the related Approved Annual Budget; 
 (v) Fifth, payment for Extraordinary Expenses approved by Lender, if any; 
 (vi)
Sixth, payments to Lender of the balance of the funds then on deposit in the Rent Account to be applied to (x) any other amounts due under the Loan Documents, (y) Accrued Interest and (z) the reduction of the outstanding principal
balance of this Note until such principal balance is paid in full in whatever proportion and priority as Lender may determine. 
 (c) Nothing in this Article II shall limit, reduce or otherwise affect Borrower’s obligations to make payments of the Monthly Debt Service Payment Amount, payments to the Impound Account, the
Replacement Reserve and payments of other amounts due hereunder and under the other Loan Documents, whether or not Rents (as defined in the Security Instrument) are available to make such payments. 

ARTICLE III. - DEFAULT 
 3.1. Events of Default. It is hereby expressly agreed that should any default occur in the payment of principal or interest as stipulated above and such payment is not made on the date

  
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such payment is due, or should any other default occur under any other Loan Document and not be cured within any applicable grace or notice period (if any), then an Event of Default (an
“Event of Default”) shall exist hereunder, and in such event the indebtedness evidenced hereby, including all sums advanced or accrued hereunder or under any other Loan Document, and all unpaid interest accrued
thereon, shall, at the option of Lender and without notice to Borrower, at once become due and payable and may be collected forthwith, whether or not there has been a prior demand for payment and regardless of the stipulated date of maturity.

 3.2. Late Charges. In the event that any payment is not received by Lender on the date when due (subject to any
applicable grace period), then, in addition to any default interest payments due hereunder, Borrower shall also pay to Lender a late charge in an amount equal to five percent (5%) of the amount of such overdue payment. 

3.3. Default Interest Rate. So long as any Event of Default exists hereunder or under any other Loan Document, regardless of
whether or not there has been an acceleration of the indebtedness evidenced hereby, and at all times after maturity of the indebtedness evidenced hereby (whether by acceleration or otherwise), interest shall accrue on the outstanding principal
balance of this Note, from the date due until the date credited, at a rate per annum equal to four percent (4%) in excess of the Note Rate, or, if such increased rate of interest may not be collected under applicable law (as applicable), then
at the maximum rate of interest, if any, which may be collected from Borrower under applicable law (as applicable, the “Default Interest Rate”), and such default interest shall be immediately due and payable.

 3.4. Borrower’s Agreements. Borrower acknowledges that it would be extremely difficult or impracticable to
determine Lender’s actual damages resulting from any late payment or default, and such late charges and default interest are reasonable estimates of those damages and do not constitute a penalty. The remedies of Lender in this Note or in the
Loan Documents, or at law or in equity, shall be cumulative and concurrent, and may be pursued singly, successively or together, in Lender’s discretion. 
 3.5. Borrower to Pay Costs. In the event that this Note, or any part hereof, is collected by or through an attorney-at-law, Borrower agrees to pay all costs of collection, including, but not
limited to, reasonable attorneys’ fees. 
 3.6. Exculpation. Notwithstanding anything in this Note or the Loan
Documents to the contrary, but subject to the qualifications hereinbelow set forth, Lender agrees that: 
 (a)
Borrower shall be liable upon the indebtedness evidenced hereby and for the other obligations arising under the Loan Documents to the full extent (but only to the extent) of the security therefor, the same being all properties (whether real or
personal), rights, estates and interests now or at any time hereafter securing the payment of this Note and/or the other obligations of Borrower under the Loan Documents (collectively, the “Property”);

 (b) if a default occurs in the timely and proper payment of all or any part of such indebtedness evidenced
hereby or in the timely and proper performance of the other obligations of Borrower under the Loan Documents, any judicial proceedings brought by Lender against Borrower shall be limited to the preservation, enforcement and foreclosure, or any

  
 12 

 
thereof, of the liens, security titles, estates, assignments, rights and security interests now or at any time hereafter securing the payment of this Note and/or the other obligations of Borrower
under the Loan Documents, and no attachment, execution or other writ of process shall be sought, issued or levied upon any assets, properties or funds of Borrower other than the Property, except with respect to the liability described below in this
section; and 
 (c) in the event of a foreclosure of such liens, security titles, estates, assignments, rights or
security interests securing the payment of this Note and/or the other obligations of Borrower under the Loan Documents, no judgment for any deficiency upon the indebtedness evidenced hereby shall be sought or obtained by Lender against Borrower,
except with respect to the liability described below in this section; provided, however, that, notwithstanding the foregoing provisions of this section, Borrower shall be fully and personally liable and subject to legal action (i) for proceeds
paid under any insurance policies (or paid as a result of any other claim or cause of action against any person or entity) by reason of damage, loss or destruction to all or any portion of the Property, to the full extent of such proceeds not
previously delivered to Lender, but which, under the terms of the Loan Documents, should have been delivered to Lender, (ii) for proceeds or awards resulting from the condemnation or other taking in lieu of condemnation of all or any portion of
the Property, to the full extent of such proceeds or awards not previously delivered to Lender, but which, under the terms of the Loan Documents, should have been delivered to Lender, (iii) for all tenant security deposits or other refundable
deposits paid to or held by Borrower or any other person or entity in connection with leases of all or any portion of the Property which are not applied in accordance with the terms of the applicable lease or other agreement, (iv) for rent and
other payments received from tenants under leases of all or any portion of the Property paid more than one (1) month in advance, (v) for rents, issues, profits and revenues of all or any portion of the Property received or applicable to a
period after the occurrence of any Event of Default hereunder or under the Loan Documents which are not either applied to the ordinary and necessary expenses of owning and operating the Property or paid to Lender, (vi) for waste committed on
the Property, damage to the Property as a result of the intentional misconduct or gross negligence of Borrower or any of its principals, officers, general partners or members, any guarantor, any indemnitor, or any agent or employee of any such
person, or any removal of all or any portion of the Property in violation of the terms of the Loan Documents, to the full extent of the losses or damages incurred by Lender on account of such occurrence, (vii) Intentionally Deleted,
(viii) for all obligations and indemnities of Borrower under the Loan Documents relating to Hazardous Substances (as defined in the Security Instrument) or radon or compliance with Environmental Laws (as defined in the Security Instrument)
and regulations to the full extent of any losses or damages (including those resulting from diminution in value of any Property) incurred by Lender and/or any of its affiliates as a result of the existence of such Hazardous Substances or radon or
failure to comply with such Environmental Laws or regulations, (ix) for fraud, material misrepresentation, failure to disclose a material fact known to Borrower, any untrue statement of a material fact or omission to state a material fact known
to Borrower in the written materials and/or information provided to Lender or any of its affiliates by Borrower or any of its affiliates, principals, officers, general partners or members, any guarantor, any indemnitor or any agent, employee
or other person authorized or apparently authorized to make statements, representations or disclosures on behalf of Borrower, any affiliate, principal, officer, general partner or member of Borrower, any guarantor or any indemnitor, to the full
extent of any losses, damages and expenses of Lender and/or any of its affiliates on account thereof, (x) Borrower’s termination or attempted 

  
 13 

 
termination of the Management Agreement (as defined in the Security Instrument) or replacement of the property manager without Lender’s prior written consent, which shall not be unreasonably
withheld, (xi) Borrower’s failure to comply with the Securities Act (as defined in the Security Instrument) and all applicable state securities laws and regulations in connection with the solicitation, offering and sale of tenancy in
common interests, and (xii) for any surrender, termination, modification or amendment of any Lease (as defined in the Security Instrument) completed in violation of the Loan Documents. References herein to particular sections of the Loan
Documents shall be deemed references to such sections as affected by other provisions of the Loan Documents relating thereto. Nothing contained in this section shall (1) be deemed to be a release or impairment of the indebtedness evidenced by
this Note or the other obligations of Borrower under the Loan Documents or the lien of the Loan Documents upon the Property, or (2) preclude Lender from foreclosing the Loan Documents in case of any default or from enforcing any of the other
rights of Lender except as stated in this section, or (3) limit or impair in any way whatsoever (A) the Indemnity and Guaranty Agreements (the “Indemnity Agreements”) or (B) the Environmental Indemnity
Agreement (the “Environmental Indemnity Agreement”), each of even date herewith executed and delivered in connection with the indebtedness evidenced by this Note or release, relieve, reduce, waive or impair in
any way whatsoever, any obligation of any party to the Indemnity Agreements or the Environmental Indemnity Agreement. 

Notwithstanding the foregoing, the agreement of Lender not to pursue recourse liability as set forth in this Section 3.6 SHALL
BECOME NULL AND VOID and shall be of no further force and effect in the event of (i) a default by Borrower, Indemnitor (as defined in the Security Instrument) or any general partner, manager or managing member of Borrower of any of the
covenants set forth in Section 2.9 of the Security Instrument or a default by Borrower, Indemnitor or any general partner, manager or managing member of Borrower which is a Single-Purpose Entity (as defined in the Security Instrument) (if any)
of the covenants set forth in Section 2.29 of the Security Instrument, (ii) if the Property or any part thereof shall become an asset in (A) a voluntary bankruptcy or insolvency proceeding of Borrower or Indemnitor, or (B) an
involuntary bankruptcy or insolvency proceeding of Borrower or Indemnitor in which the Borrower or the Indemnitor colludes with creditors in such bankruptcy or insolvency proceeding and which is not dismissed within sixty (60) days of filing,
or (iii) a partition action affecting the Property is commenced and such proceeding is not dismissed in accordance with the terms of Section 4.1(o) of the Security Instrument. 

Notwithstanding anything to the contrary in this Note, the Security Instrument or any of the other Loan Documents, Lender shall not be
deemed to have waived any right which Lender may have under Section 506(a), 506(b), 1111(b) or any other provisions of the U.S. Bankruptcy Code to file a claim for the full amount of the indebtedness evidenced hereby or secured by the Security
Instrument or any of the other Loan Documents or to require that all collateral shall continue to secure all of the indebtedness owing to Lender in accordance with this Note, the Security Instrument and the other Loan Documents. 

ARTICLE IV. - GENERAL CONDITIONS 
 4.1. No Waiver; Amendment. No failure to accelerate the indebtedness evidenced hereby by reason of default hereunder, acceptance of a partial or past due payment, or

  
 14 

 
indulgences granted from time to time shall be construed (i) as a novation of this Note or as a reinstatement of the indebtedness evidenced hereby or as a waiver of such right of
acceleration or of the right of Lender thereafter to insist upon strict compliance with the terms of this Note, or (ii) to prevent the exercise of such right of acceleration or any other right granted hereunder or by any applicable laws; and
Borrower hereby expressly waives the benefit of any statute or rule of law or equity now provided, or which may hereafter be provided, which would produce a result contrary to or in conflict with the foregoing. No extension of the time for the
payment of this Note or any installment due hereunder made by agreement with any person now or hereafter liable for the payment of this Note shall operate to release, discharge, modify, change or affect the original liability of Borrower under this
Note, either in whole or in part, unless Lender agrees otherwise in writing. This Note may not be changed orally, but only by an agreement in writing signed by the party against whom enforcement of any waiver, change, modification or discharge is
sought. 
 4.2. Waivers. Presentment for payment, demand, protest and notice of demand, protest and nonpayment and all
other notices, except notices expressly provided for herein or in the other Loan Documents, are hereby waived by Borrower. Borrower hereby further waives and renounces, to the fullest extent permitted by law, all rights to the benefits of any
moratorium, reinstatement, marshaling, forbearance, valuation, stay, extension, redemption, appraisement, exemption and homestead now or hereafter provided by the Constitution and laws of the United States of America and of each state thereof, both
as to itself and in and to all of its property, real and personal, against the enforcement and collection of the obligations evidenced by this Note or the other Loan Documents. 

4.3. Limit of Validity. The provisions of this Note and of all agreements between Borrower and Lender, whether now existing or
hereafter arising and whether written or oral, including, but not limited to, the Loan Documents, are hereby expressly limited so that in no contingency or event whatsoever, whether by reason of demand or acceleration of the maturity of this Note or
otherwise, shall the amount contracted for, charged, taken, reserved, paid or agreed to be paid (“Interest”) to Lender for the use, forbearance or detention of the money loaned under this Note exceed the maximum amount
permissible under applicable law. If, from any circumstance whatsoever, performance or fulfillment of any provision hereof or of any agreement between Borrower and Lender shall, at the time performance or fulfillment of such provision shall be due,
exceed the limit for Interest prescribed by law or otherwise transcend the limit of validity prescribed by applicable law, then, ipso facto, the obligation to be performed or fulfilled shall be reduced to such limit, and if, from any
circumstance whatsoever, Lender shall ever receive anything of value deemed Interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive Interest shall be applied to the reduction of the principal balance owing
under this Note in the inverse order of its maturity (whether or not then due) or, at the option of Lender, be paid over to Borrower, and not to the payment of Interest. All Interest (including any amounts or payments judicially or otherwise under
the law deemed to be Interest) contracted for, charged, taken, reserved, paid or agreed to be paid to Lender shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full term of this Note,
including any extensions and renewals hereof until payment in full of the principal balance of this Note so that the Interest thereon for such full term will not exceed at any time the maximum amount permitted by applicable law. To the extent United
States federal law permits a greater amount of interest than is permitted under the law of the State in which the 

  
 15 

 
Property is located, Lender will rely on United States federal law for the purpose of determining the maximum amount permitted by applicable law. Additionally, to the extent permitted by
applicable law now or hereafter in effect, Lender may, at its option and from time to time, implement any other method of computing the maximum lawful rate under the law of the State in which the Property is located or under other applicable law by
giving notice, if required, to Borrower as provided by applicable law now or hereafter in effect. This Section 4.3 will control all agreements between Borrower and Lender. 

4.4. Use of Funds. Borrower hereby warrants, represents and covenants that no funds disbursed hereunder shall be used for
personal, family or household purposes. 
 4.5. Unconditional Payment. Borrower is and shall be obligated to pay
principal, interest and any and all other amounts which become payable hereunder or under the other Loan Documents absolutely and unconditionally and without any abatement, postponement, diminution or deduction and without any reduction for
counterclaim or setoff. In the event that at any time any payment received by Lender hereunder shall be deemed by a court of competent jurisdiction to have been a voidable preference or fraudulent conveyance under any bankruptcy, insolvency or other
debtor relief law, then the obligation to make such payment shall survive any cancellation or satisfaction of this Note or return thereof to Borrower and shall not be discharged or satisfied with any prior payment thereof or cancellation of this
Note, but shall remain a valid and binding obligation enforceable in accordance with the terms and provisions hereof, and such payment shall be immediately due and payable upon demand. 

4.6. Governing Law. THIS NOTE SHALL BE INTERPRETED, CONSTRUED AND ENFORCED ACCORDING TO THE LAWS OF THE STATE IN WHICH THE
PROPERTY IS LOCATED. 
 4.7. Waiver of Jury Trial. BORROWER, TO THE FULL EXTENT PERMITTED BY LAW, HEREBY KNOWINGLY,
INTENTIONALLY AND VOLUNTARILY, WITH AND UPON THE ADVICE OF COMPETENT COUNSEL, WAIVES, RELINQUISHES AND FOREVER FORGOES THE RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING BASED UPON, ARISING OUT OF, OR IN ANY WAY RELATING TO THE DEBT EVIDENCED
BY THIS NOTE OR ANY CONDUCT, ACT OR OMISSION OF LENDER OR BORROWER, OR ANY OF THEIR RESPECTIVE DIRECTORS, OFFICERS, PARTNERS, MEMBERS, EMPLOYEES, AGENTS OR ATTORNEYS, OR ANY OTHER PERSONS AFFILIATED WITH LENDER OR BORROWER, IN EACH OF THE FOREGOING
CASES, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE. 
 ARTICLE V. - MISCELLANEOUS PROVISIONS 

5.1. Successors and Assigns; Joint and Several; Interpretation. The terms and provisions hereof shall be binding upon and inure to
the benefit of Borrower and Lender and their respective heirs, executors, legal representatives, successors, successors-in-title and assigns, whether by voluntary action of the parties or by operation of law. As used herein, the terms
“Borrower” and “Lender” shall be deemed to include their respective heirs, executors, legal representatives, successors, successors-in-title and assigns, whether by voluntary action of the parties or by operation of law. If
Borrower consists of more than one person or entity, each shall 

  
 16 

 
be jointly and severally liable to perform the obligations of Borrower under this Note. All personal pronouns used herein, whether used in the masculine, feminine or neuter gender, shall include
all other genders; the singular shall include the plural and vice versa. Titles of articles and sections are for convenience only and in no way define, limit, amplify or describe the scope or intent of any provisions hereof. Time is of the
essence with respect to all provisions of this Note. This Note and the other Loan Documents contain the entire agreements between the parties hereto relating to the subject matter hereof and thereof and all prior agreements relative hereto and
thereto which are not contained herein or therein are terminated. 
 5.2. Taxpayer Identification. 

Crossroads Bolingbrook, LLC’s Tax Identification Number is 20-4841175. 

RES Crossroads Bolingbrook, LLC’s Tax Identification Number is ###-##-####. 

[THE BALANCE OF THIS PAGE IS INTENTIONALLY LEFT BLANK] 

  
 17 

 IN WITNESS WHEREOF, Borrower has executed this Note as of the date first written above.

  

			
	BORROWER:
	
	 CROSSROADS BOLINGBROOK, LLC,
 an Illinois limited liability company

		
	By:	 	/s/ John E. Shaffer
	Name:	 	John E. Shaffer
	Title:	 	Member of its Board of Managers
		
	By:	 	/s/ Melissa S. Pielet
	Name:	 	Melissa S. Pielet
	Title:	 	Member of its Board of Managers
	
	 RES CROSSROADS BOLINGBROOK, LLC,
 a Delaware limited liability company

		
	By:	 	/s/ Robert E. Smietana
	Name:	 	Robert E. Smietana
	Title:	 	Manager

 LOAN TERMS 

 

									
		  				 	 	*Currency in: US Dollar	  
	 Original Principal Amount
	  	 	6,350,000.00	  	 			
	 Note Rate % (Per Annum)
	  	 	6.240	% 	 			
	 Original Amortization Term (Months)
	  	 	360	  	 			
	 Monthly Payment Amount (Excluding IO Period)
	  	 	39,056.75	  	 			
	 Note Date
	  	 	6/23/2006	  	 			
	 First Pay Date
	  	 	8/11/2006	  	 			
	 Original Loan Term (Months)
	  	 	120	  	 			
	 Scheduled Maturity Date
	  	 	7/11/2016	  	 			
	 Interest Accrual Basis During Amortization Periods
	  	 	ACTUAL/360	  	 			
	 Interest Only (IO) Periods (Months)
	  	 	60	  	 			
	 Interest Accrual Basis During IO Period
	  	 	ACTUAL/360	  	 			
	 575 W CROSSROADS PKWY
	  				 	 	502855974	  

  

																							
	Pay Period	  	Pay Date	  	Accrual
Days in
Period	 	  	Scheduled Payment	 	  	Interest Component of
Scheduled Payment	 	  	Principal Component of
Scheduled Payment	 	  	Ending Unpaid
Principal Balance	 
	     0
	  	7/11/2006	  	 	18	  	  	 	0.00	  	  	 	19,812.06	  	  	 	0.00	  	  	 	6,350,000.00	  
	     1
	  	8/11/2006	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	     2
	  	9/11/2006	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	     3
	  	10/11/2006	  	 	30	  	  	 	33,020.00	  	  	 	33,020.00	  	  	 	0.00	  	  	 	6,350,000.00	  
	     4
	  	11/11/2006	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	     5
	  	12/11/2006	  	 	30	  	  	 	33,020.00	  	  	 	33,020.00	  	  	 	0.00	  	  	 	6,350,000.00	  
	     6
	  	1/11/2007	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	     7
	  	2/11/2007	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	     8
	  	3/11/2007	  	 	28	  	  	 	30,818.67	  	  	 	30,818.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	     9
	  	4/11/2007	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   10
	  	5/11/2007	  	 	30	  	  	 	33,020.00	  	  	 	33,020.00	  	  	 	0.00	  	  	 	6,350,000.00	  
	   11
	  	6/11/2007	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   12
	  	7/11/2007	  	 	30	  	  	 	33,020.00	  	  	 	33,020.00	  	  	 	0.00	  	  	 	6,350,000.00	  
	   13
	  	8/11/2007	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   14
	  	9/11/2007	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   15
	  	10/11/2007	  	 	30	  	  	 	33,020.00	  	  	 	33,020.00	  	  	 	0.00	  	  	 	6,350,000.00	  
	   16
	  	11/11/2007	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   17
	  	12/11/2007	  	 	30	  	  	 	33,020.00	  	  	 	33,020.00	  	  	 	0.00	  	  	 	6,350,000.00	  
	   18
	  	1/11/2008	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   19
	  	2/11/2008	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   20
	  	3/11/2008	  	 	29	  	  	 	31,919.33	  	  	 	31,919.33	  	  	 	0.00	  	  	 	6,350,000.00	  
	   21
	  	4/11/2008	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   22
	  	5/11/2008	  	 	30	  	  	 	33,020.00	  	  	 	33,020.00	  	  	 	0.00	  	  	 	6,350,000.00	  
	   23
	  	6/11/2008	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   24
	  	7/11/2008	  	 	30	  	  	 	33,020.00	  	  	 	33,020.00	  	  	 	0.00	  	  	 	6,350,000.00	  
	   25
	  	8/11/2008	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   26
	  	9/11/2008	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   27
	  	10/11/2008	  	 	30	  	  	 	33,020.00	  	  	 	33,020.00	  	  	 	0.00	  	  	 	6,350,000.00	  
	   28
	  	11/11/2008	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   29
	  	12/11/2008	  	 	30	  	  	 	33,020.00	  	  	 	33,020.00	  	  	 	0.00	  	  	 	6,350,000.00	  
	   30
	  	l/11/2009	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   31
	  	2/11/2009	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   32
	  	3/11/2009	  	 	28	  	  	 	30,818.67	  	  	 	30,818.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   33
	  	4/11/2009	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   34
	  	5/11/2009	  	 	30	  	  	 	33,020.00	  	  	 	33,020.00	  	  	 	0.00	  	  	 	6,350,000.00	  
	   35
	  	6/11/2009	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   36
	  	7/11/2009	  	 	30	  	  	 	33,020.00	  	  	 	33,020.00	  	  	 	0.00	  	  	 	6,350,000.00	  
	   37
	  	8/11/2009	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   38
	  	9/11/2009	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   39
	  	10/11/2009	  	 	30	  	  	 	33,020.00	  	  	 	33,020.00	  	  	 	0.00	  	  	 	6,350,000.00	  
	   40
	  	11/11/2009	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   41
	  	12/11/2009	  	 	30	  	  	 	33,020.00	  	  	 	33,020.00	  	  	 	0.00	  	  	 	6,350,000.00	  
	   42
	  	1/11/2010	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   43
	  	2/11/2010	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   44
	  	3/11/2010	  	 	28	  	  	 	30,818.67	  	  	 	30,818.67	  	  	 	0.00	  	  	 	6,350,000.00	  

																									
	   45
	  	 	4/11/2010	  	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   46
	  	 	5/11/2010	  	  	 	30	  	  	 	33,020.00	  	  	 	33,020.00	  	  	 	0.00	  	  	 	6,350,000.00	  
	   47
	  	 	6/11/2010	  	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   48
	  	 	7/11/2010	  	  	 	30	  	  	 	33,020.00	  	  	 	33,020.00	  	  	 	0.00	  	  	 	6,350,000.00	  
	   49
	  	 	8/11/2010	  	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   50
	  	 	9/11/2010	  	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   51
	  	 	10/11/2010	  	  	 	30	  	  	 	33,020.00	  	  	 	33,020.00	  	  	 	0.00	  	  	 	6,350,000.00	  
	   52
	  	 	11/11/2010	  	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   53
	  	 	12/11/2010	  	  	 	30	  	  	 	33,020.00	  	  	 	33,020.00	  	  	 	0.00	  	  	 	6,350,000.00	  
	   54
	  	 	1/11/2011	  	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   55
	  	 	2/11/2011	  	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   56
	  	 	3/11/2011	  	  	 	28	  	  	 	30,818.67	  	  	 	30,818.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   57
	  	 	4/11/2011	  	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   58
	  	 	5/11/2011	  	  	 	30	  	  	 	33,020.00	  	  	 	33,020.00	  	  	 	0.00	  	  	 	6,350,000.00	  
	   59
	  	 	6/11/2011	  	  	 	31	  	  	 	34,120.67	  	  	 	34,120.67	  	  	 	0.00	  	  	 	6,350,000.00	  
	   60
	  	 	7/11/2011	  	  	 	30	  	  	 	33,020.00	  	  	 	33,020.00	  	  	 	0.00	  	  	 	6,350,000.00	  
	   61
	  	 	8/11/2011	  	  	 	31	  	  	 	39,056.75	  	  	 	34,120.67	  	  	 	4,936.08	  	  	 	6,345,063.92	  
	   62
	  	 	9/11/2011	  	  	 	31	  	  	 	39,056.75	  	  	 	34,094.14	  	  	 	4,962.61	  	  	 	6,340,101.31	  
	   63
	  	 	10/11/2011	  	  	 	30	  	  	 	39,056.75	  	  	 	32,968.53	  	  	 	6,088.22	  	  	 	6,334,013.09	  
	   64
	  	 	11/11/2011	  	  	 	31	  	  	 	39,056.75	  	  	 	34,034.76	  	  	 	5,021.99	  	  	 	6,328,991.10	  
	   65
	  	 	12/11/2011	  	  	 	30	  	  	 	39,056.75	  	  	 	32,910.75	  	  	 	6,146.00	  	  	 	6,322,845.10	  
	   66
	  	 	1/11/2012	  	  	 	31	  	  	 	39,056.75	  	  	 	33,974.75	  	  	 	5,082.00	  	  	 	6,317,763.10	  
	   67
	  	 	2/11/2012	  	  	 	31	  	  	 	39,056.75	  	  	 	33,947.45	  	  	 	5,109.30	  	  	 	6,312,653.80	  
	   68
	  	 	3/11/2012	  	  	 	29	  	  	 	39,056.75	  	  	 	31,731.61	  	  	 	7,325.14	  	  	 	6,305,328.66	  
	   69
	  	 	4/11/2012	  	  	 	31	  	  	 	39,056.75	  	  	 	33,880.63	  	  	 	5,176.12	  	  	 	6,300,152.54	  
	   70
	  	 	5/11/2012	  	  	 	30	  	  	 	39,056.75	  	  	 	32,760.79	  	  	 	6,295.96	  	  	 	6,293,856.58	  
	   71
	  	 	6/11/2012	  	  	 	31	  	  	 	39,056.75	  	  	 	33,818.99	  	  	 	5,237.76	  	  	 	6,288,618.82	  
	   72
	  	 	7/11/2012	  	  	 	30	  	  	 	39,056.75	  	  	 	32,700.82	  	  	 	6,355.93	  	  	 	6,282,262.89	  
	   73
	  	 	8/11/2012	  	  	 	31	  	  	 	39,056.75	  	  	 	33,756.69	  	  	 	5,300.06	  	  	 	6,276,962.83	  
	   74
	  	 	9/11/2012	  	  	 	31	  	  	 	39,056.75	  	  	 	33,728.21	  	  	 	5,328.54	  	  	 	6,271,634.29	  
	   75
	  	 	10/11/2012	  	  	 	30	  	  	 	39,056.75	  	  	 	32,612.50	  	  	 	6,444.25	  	  	 	6,265,190.04	  
	   76
	  	 	11/11/2012	  	  	 	31	  	  	 	39,056.75	  	  	 	33,664.95	  	  	 	5,391.80	  	  	 	6,259,798.24	  
	   77
	  	 	12/11/2012	  	  	 	30	  	  	 	39,056.75	  	  	 	32,550.95	  	  	 	6,505.80	  	  	 	6,253,292.44	  
	   78
	  	 	1/11/2013	  	  	 	31	  	  	 	39,056.75	  	  	 	33,601.02	  	  	 	5,455.73	  	  	 	6,247,836.71	  
	   79
	  	 	2/11/2013	  	  	 	31	  	  	 	39,056.75	  	  	 	33,571.71	  	  	 	5,485.04	  	  	 	6,242,351.67	  
	   80
	  	 	3/11/2013	  	  	 	28	  	  	 	39,056.75	  	  	 	30,296.21	  	  	 	8,760.54	  	  	 	6,233,591.13	  
	   81
	  	 	4/11/2013	  	  	 	31	  	  	 	39,056.75	  	  	 	33,495.16	  	  	 	5,561.59	  	  	 	6,228,029.54	  
	   82
	  	 	5/11/2013	  	  	 	30	  	  	 	39,056.75	  	  	 	32,385.75	  	  	 	6,671.00	  	  	 	6,221,358.54	  
	   83
	  	 	6/11/2013	  	  	 	31	  	  	 	39,056.75	  	  	 	33,429.43	  	  	 	5,627.32	  	  	 	6,215,731.22	  
	   84
	  	 	7/11/2013	  	  	 	30	  	  	 	39,056.75	  	  	 	32,321.80	  	  	 	6,734.95	  	  	 	6,208,996.27	  
	   85
	  	 	8/11/2013	  	  	 	31	  	  	 	39,056.75	  	  	 	33,363.01	  	  	 	5,693.74	  	  	 	6,203,302.53	  
	   86
	  	 	9/11/2013	  	  	 	31	  	  	 	39,056.75	  	  	 	33,332.41	  	  	 	5,724.34	  	  	 	6,197,578.19	  
	   87
	  	 	10/11/2013	  	  	 	30	  	  	 	39,056.75	  	  	 	32,227.41	  	  	 	6,829.34	  	  	 	6,190,748.85	  
	   88
	  	 	11/11/2013	  	  	 	31	  	  	 	39,056.75	  	  	 	33,264.96	  	  	 	5,791.79	  	  	 	6,184,957.06	  
	   89
	  	 	12/11/2013	  	  	 	30	  	  	 	39,056.75	  	  	 	32,161.78	  	  	 	6,894.97	  	  	 	6,178,062.09	  
	   90
	  	 	1/11/2014	  	  	 	31	  	  	 	39,056.75	  	  	 	33,196.79	  	  	 	5,859.96	  	  	 	6,172,202.13	  
	   91
	  	 	2/11/2014	  	  	 	31	  	  	 	39,056.75	  	  	 	33,165.30	  	  	 	5,891.45	  	  	 	6,166,310.68	  
	   92
	  	 	3/11/2014	  	  	 	28	  	  	 	39,056.75	  	  	 	29,927.16	  	  	 	9,129.59	  	  	 	6,157,181.09	  
	   93
	  	 	4/11/2014	  	  	 	31	  	  	 	39,056.75	  	  	 	33,084.59	  	  	 	5,972.16	  	  	 	6,151,208.93	  
	   94
	  	 	5/11/2014	  	  	 	30	  	  	 	39,056.75	  	  	 	31,986.29	  	  	 	7,070.46	  	  	 	6,144,138.47	  
	   95
	  	 	6/11/2014	  	  	 	31	  	  	 	39,056.75	  	  	 	33,014.50	  	  	 	6,042.25	  	  	 	6,138,096.22	  
	   96
	  	 	7/11/2014	  	  	 	30	  	  	 	39,056.75	  	  	 	31,918.10	  	  	 	7,138.65	  	  	 	6,130,957.57	  
	   97
	  	 	8/11/2014	  	  	 	31	  	  	 	39,056.75	  	  	 	32,943.68	  	  	 	6,113.07	  	  	 	6,124,844.50	  
	   98
	  	 	9/11/2014	  	  	 	31	  	  	 	39,056.75	  	  	 	32,910.83	  	  	 	6,145.92	  	  	 	6,118,698.58	  
	   99
	  	 	10/11/2014	  	  	 	30	  	  	 	39,056.75	  	  	 	31,817.23	  	  	 	7,239.52	  	  	 	6,111,459.06	  
	 100
	  	 	11/11/2014	  	  	 	31	  	  	 	39,056.75	  	  	 	32,838.91	  	  	 	6,217.84	  	  	 	6,105,241.22	  
	 101
	  	 	12/11/2014	  	  	 	30	  	  	 	39,056.75	  	  	 	31,747.25	  	  	 	7,309.50	  	  	 	6,097,931.72	  
	 102
	  	 	1/11/2015	  	  	 	31	  	  	 	39 056.75	  	  	 	32,766.22	  	  	 	6,290.53	  	  	 	6,091,641.19	  
	 103
	  	 	2/11/2015	  	  	 	31	  	  	 	39,056.75	  	  	 	32,732.42	  	  	 	6,324.33	  	  	 	6,085,316.86	  
	 104
	  	 	3/11/2015	  	  	 	28	  	  	 	39,056.75	  	  	 	29,534.07	  	  	 	9,522.68	  	  	 	6,075,794.18	  
	 105
	  	 	4/11/2015	  	  	 	31	  	  	 	39,056.75	  	  	 	32,647.27	  	  	 	6,409.48	  	  	 	6,069,384.70	  
	 106
	  	 	5/11/2015	  	  	 	30	  	  	 	39,056.75	  	  	 	31,560.80	  	  	 	7,495.95	  	  	 	6,061,888.75	  
	 107
	  	 	6/11/2015	  	  	 	31	  	  	 	39,056.75	  	  	 	32,572.55	  	  	 	6,484.20	  	  	 	6,055,404.55	  
	 108
	  	 	7/11/2015	  	  	 	30	  	  	 	39,056.75	  	  	 	31,488.10	  	  	 	7,568.65	  	  	 	6,047,835.90	  
	 109
	  	 	8/11/2015	  	  	 	31	  	  	 	39,056.75	  	  	 	32,497.04	  	  	 	6,559.71	  	  	 	6,041,776.19	  
	 110
	  	 	9/11/2015	  	  	 	31	  	  	 	39,056.75	  	  	 	32,461.79	  	  	 	6,594.96	  	  	 	6,034,681.23	  

																									
	 111
	  	 	10/11/2015	  	  	 	30	  	  	 	39,056.75	  	  	 	31,380.34	  	  	 	7,676.41	  	  	 	6,027,004.82	  
	 112
	  	 	11/11/2015	  	  	 	31	  	  	 	39,056.75	  	  	 	32,385.11	  	  	 	6,671.64	  	  	 	6,020,333.18	  
	 113
	  	 	12/11/2015	  	  	 	30	  	  	 	39,056.75	  	  	 	31,305.73	  	  	 	7,751.02	  	  	 	6,012,582.16	  
	 114
	  	 	1/11/2016	  	  	 	31	  	  	 	39,056.75	  	  	 	32,307.61	  	  	 	6,749.14	  	  	 	6,005,833.02	  
	 115
	  	 	2/11/2016	  	  	 	31	  	  	 	39,056.75	  	  	 	32,271.34	  	  	 	6,785.41	  	  	 	5,999,047.61	  
	 116
	  	 	3/11/2016	  	  	 	29	  	  	 	39,056.75	  	  	 	30,155.21	  	  	 	8,901.54	  	  	 	5,990,146.07	  
	 117
	  	 	4/11/2016	  	  	 	31	  	  	 	39,056.75	  	  	 	32,187.05	  	  	 	6,869.70	  	  	 	5,983,276.37	  
	 118
	  	 	5/11/2016	  	  	 	30	  	  	 	39,056.75	  	  	 	31,113.04	  	  	 	7,943.71	  	  	 	5,975,332.66	  
	 119
	  	 	6/11/2016	  	  	 	31	  	  	 	39,056.75	  	  	 	32,107.45	  	  	 	6,949.30	  	  	 	5,968,383.36	  
	 120
	  	 	7/11/2016	  	  	 	30	  	  	 	5,999,418.95	  	  	 	31,035.59	  	  	 	5,968,383.36	  	  	 	0.00	  
	 120
	  				  	 	3,653	  	  	 	10,313,584.66	  	  	 	3,963,584.66	  	  	 	6,350,000.00	  	  			

 

 
 Power Retail Industrial Building 

AUTO-DRAFT REQUEST FORM 

I hereby request and authorize Wachovia Bank, National Association, doing business as Wachovia Securities (“Wachovia Securities”), to draft my
account specified below made payable to the order of Wachovia Securities located in Charlotte, NC, provided there are sufficient funds in said account to pay the same upon presentation. I agree that your rights in respect to each such draft shall be
the same as if it were a check drawn on Wachovia Securities and signed personally by me. This authorization is to remain in effect until revoked by me in writing and until Wachovia Securities actually receives such notice. I agree that Wachovia
Securities shall be fully protected in honoring any such drafts. 
  

					
	50-2855974	 		 	 CROSSROADS BOLINGBROOK, LLC and
 RES CROSSROADS BOLINGBROOK, LLC

	Wachovia Loan # (9 digits)	 		 	Borrower Name
			
	000001001	 		 	071000505
	Bank Routing Number (9 digits)	 		 	Bank Account # (from check
			
	LaSalle National Bank	 		 	Chicago, Illinois
	Name of Bank	 		 	City and State

 

 
  

					
	 Routing
#            Account #
  
 /s/ Robert E. Smietana
	 		 	Robert E. Smietana
	Authorized Signature (as it appears on bank documents)	 		 	Print Name
			
	 	 		 	6/22/06
		 		 	Date
			
	11th Day of each month (Aug. 11)	 		 	(312) 707-8762
	Draft Date (Payment due date)	 		 	Fax #

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00194-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00194-of-00352.parquet"}]]