Document:

Guarantee

 Exhibit 10.3 
  
 GUARANTEE 
  
 GUARANTEE dated as of October 1, 2004 by Bank of America Corporation (the “Guarantor”), in favor of First States Investors 5200, LLC (the
“Guaranteed Party”) as “Landlord” under that certain Master Lease Agreement dated of even date herewith between Guaranteed Party and Bank of America, N.A. (“Bank of America”), a copy of which is attached as Exhibit
“A” hereto (the “Lease”). 
  
 To induce the
Guaranteed Party to enter into the Lease and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Guarantor hereby irrevocably and unconditionally guarantees to the Guaranteed Party, all present and future
obligations of Bank of America arising out of the Lease to the Guaranteed Party. Upon failure of Bank of America to punctually fulfill any such obligation, and upon written demand by the Guaranteed Party to the Guarantor, the Guarantor agrees to
fulfill, or cause to be fulfilled, to the extent such obligation is not performed, the performance of such obligation; provided, that any single or partial exercise by the Guaranteed Party of any right, remedy or power hereunder shall not preclude
any other or future exercise of any right, remedy or power. Each and every right, remedy and power hereby granted to the Guaranteed Party or allowed it by law shall be cumulative and not exclusive of any other, and may be exercised by the Guaranteed
Party at any time or from time to time. 
  
 The Guarantor hereby
agrees that its obligations hereunder shall be continuing and unconditional and will not be discharged except by full and complete satisfaction of all present and future obligations of Bank of America to the Guaranteed Party arising out of the
Lease, irrespective of any change in or amendment to the Lease. 
  
 The Guarantor hereby waives diligence, presentment, demand on Bank of America for delivery or otherwise, filing of claims, requirement of a prior proceeding against Bank of America and protest or notice. 
  
 The Guarantor agrees to pay on demand all fees and out of pocket expenses
(including the reasonable fees and expenses of any Guaranteed Party’s counsel) in any way relating to the enforcement or protection of the rights of the Guaranteed Party hereunder; provided, that the Guarantor shall not be liable for any
expenses of the Guaranteed Party if no delivery or payment under this Guarantee is due. The Guarantor reserves the right to assert defenses that Bank of America may have to any delivery or payment to the Guaranteed Party under the Lease. 

 
 The Guarantor represents to the Guaranteed Party as of the date hereof
that: 
  
 1. It is duly organized and validly existing under the
laws of the jurisdiction of its incorporation and has full power and legal right to execute and deliver this Guarantee and to perform the provisions of this Guarantee on its part to be performed. 
  
 2. Its execution, delivery and performance of this Guarantee have been and
remain duly authorized by all necessary corporate action and do not contravene any provision of its certificate of incorporation or by-laws, as amended, or any law, regulation or contractual restriction binding on it or its assets. 

 3. All consents, licenses, authorization, approvals and clearances (including, without limitation, any
necessary exchange control approval) and notifications, reports and registrations requisite for its due execution, delivery and performance of this Guarantee have been obtained from or, as the case may be, filed with the relevant governmental
authorities having jurisdiction and remain in full force and effect and all conditions thereof have been duly complied with and no other action by, and no notice to or filing with, any governmental authority having jurisdiction is required for such
execution, delivery or performance. 
  
 4. This Guarantee is its
legal, valid and binding obligation enforceable against it in accordance with its terms, except as enforcement hereof may be limited by applicable bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of
creditors’ rights or by general equity principles. 
  
 5.
Guarantor hereby agrees to provide copies of annual audited financial statements of the Guarantor to the Guaranteed Party no later than ninety (90) days following the end of each calendar year. 
  
 By accepting this Guarantee, the Guaranteed Party agrees that the Guarantor
shall be subrogated to all rights of the Guaranteed Party against Bank of America in respect of any delivery or payment made by the Guarantor pursuant to this Guarantee; provided, however, that the Guarantor shall not exercise or be entitled to
receive any payments arising out of, or based upon such right of subrogation until all obligations under the Lease shall have been paid in full to the Guaranteed Party. 
  
 Neither the Guarantor nor the Guaranteed Party may assign its rights, interests or obligations hereunder to any other person
(except by operation of law) without the prior written consent of the Guarantor or the Guaranteed Party, as the case may be. 
  
 All notices or demands on the Guarantor shall be deemed effective when received, shall be in writing and shall be delivered by hand or by registered mail,
or by facsimile transmission promptly confirmed by registered mail, addressed to the Guarantor at: 
  
 Bank of America Corporation 
 Corporate Treasury Department 
 100 N. Tryon St. 
 Mail Code: NC1-007-23-01 
 Charlotte, North Carolina 28255 
 Attention: Karen A. Gosnell, Senior Vice President 
  
 with a copy to: 
  
 Corporate Real Estate 
 100 N. Tryon St.

 Mail Code: NC1-007-52-02 
 Charlotte, North Carolina 28255

 Attention: Robert Patterson, Senior Vice President 
  

 -2- 

 and a copy to: 
  
 Legal Department 
 901 Main St., 68th Floor 
 Mail Code: TX1-492-68-01 
 Dallas, Texas 75202 
 Attention: Michael F. Hord, Associate General Counsel 
  
 or to such other address or facsimile number as the Guarantor shall have notified the Guaranteed Party in a written notice delivered to the Guaranteed Party in accordance
with the Lease. 
  
 This Guarantee shall be governed by and
construed in accordance with the laws of the State of North Carolina. All capitalized terms not otherwise defined herein shall have the respective meanings assigned to them in the Lease. 
  

			
	 BANK OF AMERICA CORPORATION

		
	 By:
	 	  

	 	 	 Name: Michael F. Hord
 Title: Attorney in Fact

  

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 EXHIBIT A 
  

Form of Master Lease Agreement 
  

 -4-First Amendment To Loan Agreement

 Exhibit 10.4 
  
 FIRST AMENDMENT TO LOAN AGREEMENT 
  
 This First Amendment to Loan Agreement (the “Amendment”), dated as of August 9, 2004, is made by and among FIRST STATES INVESTORS DB I,
LLC (and each Property-Owning Borrower that joins the Loan Agreement from time to time, collectively, “Borrower”), DEUTSCHE BANK AG, CAYMAN ISLANDS BRANCH, as agent (“Agent”), and LA SALLE BANK NATIONAL ASSOCIATION,
a national banking association, as collateral agent (the “Collateral Agent”). 
  
 R E C I T A L S: 
  
 The Borrower,
the Agent and the Collateral Agent are party to a Loan Agreement, dated as of July 18, 2003 (as it may hereafter be amended, supplemented or otherwise modified, the “Loan Agreement”), pursuant to which the Agent agreed, subject to
the terms and conditions set forth in the Loan Agreement, to provide a series of loan advances (each, an “Advance” and collectively, the “Loan”) as provided in the Loan Agreement. Terms used but not defined herein
shall have the respective meanings ascribed to such terms in the Loan Agreement, as amended hereby. 
  
 The parties wish to make various amendments to the Loan as provided herein. 
  
 NOW, THEREFORE, in consideration of Ten Dollars ($10.00) and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as follows, effective as of the date hereof. 
  
 Section 1. Under Section 1.1 of the Loan Agreement, the definition of “Reserve Accounts” shall be deleted in its entirety, and replaced with the
following: 
  
 “Reserve Account” means the
Deferred Maintenance Escrow Account, the Replacement Reserve Account, the Leasing Costs/TI Costs Account, the Real Estate Taxes Escrow Account, the Insurance Escrow Account, the Mortgage Recording Tax Escrow Account, and the Future Debt-Service
Reserve Account, collectively, and any successor accounts to any of the foregoing. 
  
 Section 2. Reserve Accounts. The following shall be added at the end of Section 3.13, as subparagraph (f): 
  
 (f) Future Debt-Service Reserve Account. Borrower shall establish and maintain with the Collateral Agent an account entitled the Future
Debt-Service Reserve Account, which account shall be an Eligible Account for the benefit of Agent until the Loan is paid in full. With respect to Leases where Rents are paid quarterly, at Borrower’s election when an Advance is taken under the
Loan, the Agent shall notify the Collateral Agent in writing of the portion of such Rents which is to be deposited on the immediately succeeding Payment Date into the Future Debt-Service Reserve Account, such amount to be reflective of a good-faith
estimate of the allocable portion of the interest payments due and payable on the Loan for each of the second succeeding and the third succeeding Payment Dates based upon the Advance for the Mortgaged Property to which such Lease relates. Any and
all Moneys remitted to the Future Debt-Service Reserve Account, together with any Permitted Investments in which such Moneys are or will be 

 invested or reinvested during the term of this Agreement, shall be held in the Future Debt-Service Reserve Account to be
withdrawn by Collateral Agent on each of the second and third succeeding Payment Dates as directed in the preceding sentence and applied to make interest payments on the Loan on such dates. At such time when a Mortgaged Property is released from the
Loan and the Future Debt-Service Reserve Account has on deposit funds associated with such Mortgaged Property, any such funds shall be distributed to the Borrower at the time of such release. 
  
 Section 3. Permitted Investments. The following shall be added at the
end of Section 3.13(d): 
  
 So long as an Event of Default has
not occurred and is not continuing, all such Permitted Investments shall be made in the name of the Collateral Agent on behalf of the Lenders or as otherwise directed by Agent. Agent shall cause all income or other gain from investments of Money
held in the Reserve Account to be deposited in such respective account of the Reserve Account immediately upon receipt and any loss resulting from such investments shall be charged to such respective account of the Reserve Account. Notwithstanding
the foregoing, any income or gain from investments of Money held in the Future Debt-Service Reserve Account shall not be deposited in the Future-Debt Service Reserve Account, but instead shall be remitted to Borrower monthly. 
  
 Section 4. Central Cash Management. Section 3.12(b) of the Loan
Agreement shall be deleted in its entirety and replaced with the following: 
  
 (b) Distribution of Cash. So long as the Collateral Agent shall not have received written notice from Agent on behalf of the Lenders that an Event of Default has occurred and is continuing, the Collateral Agent
shall hold uninvested for Borrower or the Lenders in an Eligible Account at LaSalle Bank National Association, the funds on deposit in the Collection Account as of the close of business on the Business Day immediately preceding each Payment Date to
such Payment Date and shall apply such funds on such Payment Date, in each case to the extent of the amounts set forth in the related Payment Date Statement delivered by the Collateral Agent, as follows: 
  
 first, to the payment to the Agent of (i) the
interest then due and payable on the Note with respect to the related Interest Accrual Period, (ii) the Exit Fee, if any, then due and payable and (iii) the Principal Indebtedness in an amount equal to any additional amount to which the Agent is
then entitled pursuant to Section 3.7 of this Agreement; 
  
 second, to the payment to the Collateral Agent of its fees then due and payable pursuant to the Fee Letter; 
  
 third, to the Real Estate Taxes Escrow Account and the Insurance Escrow Account, in that order, in the respective amounts required
to be deposited therein as described in Section 3.13(b); 
  
 fourth, to the Replacement Reserve Account in the amount required to be deposited therein as described in Section 3.13(a); 
  

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 fifth, to the Leasing Costs/TI Costs Account in the amount required to be
deposited therein as described in Section 3.13(a); 
  
 sixth, to the Future Debt-Service Reserve in the amount required to be deposited therein as described in Section 3.13(f); 
  
 seventh, to the payment of any outstanding indemnification payment to which an Indemnified Party is
then entitled pursuant to Sections 5.1(i) and 5.1(j); and 
  
 eighth, to Borrower in an amount equal to remaining available funds, if any. 
  
 Section 5. Effect Upon Loan Documents. 
  
 5.1 Except as specifically set forth herein, the Loan Documents shall remain in full force and effect and are hereby ratified and confirmed. All
references to “Loan Agreement” in the Loan Documents shall mean and refer to the Loan Agreement as modified and amended hereby. 
  
 5.2 The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of Agent under the Loan
Documents, or any other document, instrument or agreement executed and/or delivered in connection therewith. 
  
 Section 6. Governing Law. THIS AMENDMENT SHALL BE CONSTRUED, INTERPRETED AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS
CONFLICT OF LAWS PRINCIPLES. 
  
 Section 7. Counterparts.
This Amendment may be executed in any number of counterparts, and all such counterparts shall together constitute the same agreement. 
  
 [REST OF PAGE INTENTIONALLY LEFT BLANK] 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed as of the day and year
first above written. 
  

			
	AGENT AND INITIAL LENDER:
	
	DEUTSCHE BANK AG, CAYMAN ISLANDS BRANCH, a Cayman Islands Branch of a Foreign Bank
		
	 By:
	 	  

	 Name:
	 	 
	 Title:
	 	 
		
	 By:
	 	  

	 Name:
	 	 
	 Title:
	 	 
	
	BORROWERS:
	
	FIRST STATES INVESTORS DB I, LLC, a Delaware limited liability company
		
	 By:
	 	  

	 Name:
	 	 Sonya A. Huffman

	 Title:
	 	 Vice President

	
	FIRST STATES INVESTORS 2550A, LLC, a Delaware limited liability company
		
	 By:
	 	  

	 Name:
	 	 Sonya A. Huffman

	 Title:
	 	 Vice President

			
	FIRST STATES INVESTORS 4100D, LLC, a Delaware limited liability company
		
	 By:
	 	  

	 Name:
	 	 Sonya A. Huffman

	 Title:
	 	 Vice President

	
	COLLATERAL AGENT:
	
	LA SALLE BANK NATIONAL ASSOCIATION,
a national banking association

	 (as Collateral Agent for the Lenders only)

		
	 By:
	 	  

	 Name:
	 	 
	 Title:
	 	 

  

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