SEC Contract Filing

Filing Date: 2015-10-28

Document Content:
<DOCUMENT>
<TYPE>EX-10.6
<SEQUENCE>7
<FILENAME>ex106-recoursecarveoutguar.htm
<DESCRIPTION>EXHIBIT 10.6
<TEXT>
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<a name="sf640e1b6da1a4781b35b70c2958f8c97"></a><div><div style="line-height:120%;padding-bottom:8px;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">EXHIBIT 10.6</font></div></div><br><div style="line-height:120%;padding-bottom:4px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Recourse Carve-Out GUARANTY AGREEMENT</font></div><div style="line-height:120%;padding-bottom:4px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">[PORTFOLIO]</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">This </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">GUARANTY AGREEMENT</font><font style="font-family:inherit;font-size:10pt;">&#32;(this &#8220;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Guaranty</font><font style="font-family:inherit;font-size:10pt;">&#8221;) is made as of October 22, 2015, by </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">GRIFFIN CAPITAL ESSENTIAL ASSET REIT II, INC.</font><font style="font-family:inherit;font-size:10pt;">, a Maryland corporation (&#8220;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Guarantor</font><font style="font-family:inherit;font-size:10pt;">&#8221;), in favor of </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">AMERICAN GENERAL LIFE INSURANCE COMPANY</font><font style="font-family:inherit;font-size:10pt;">, a Texas corporation (&#8220;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">AGL</font><font style="font-family:inherit;font-size:10pt;">&#8221;), </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THE VARIABLE ANNUITY LIFE INSURANCE COMPANY</font><font style="font-family:inherit;font-size:10pt;">, a Texas corporation (&#8220;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">VALIC</font><font style="font-family:inherit;font-size:10pt;">&#8221;), and </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THE UNITED STATES LIFE INSURANCE COMPANY IN THE CITY OF NEW YORK</font><font style="font-family:inherit;font-size:10pt;">, a New York corporation (&#8220;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">USL</font><font style="font-family:inherit;font-size:10pt;">&#8221;), as co-lenders (collectively, &#8220;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Lender</font><font style="font-family:inherit;font-size:10pt;">&#8221;).</font></div><div style="line-height:120%;padding-left:48px;padding-bottom:8px;text-align:justify;text-indent:48px;"><font style="padding-bottom:8px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Loan and Notes</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">This Guaranty is executed in connection with six (6) Loans (defined below). The collective principal amount of the Loans is $126,970,000. Concurrently herewith, Lender is making loans to (i) Griffin (Columbus) Essential Asset REIT II, LLC, a Delaware limited liability company (&#8220;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">GC Columbus</font><font style="font-family:inherit;font-size:10pt;">&#8221;), evidenced by that certain Promissory Note payable to the order of AGL in the original principal amount referenced therein, that certain Promissory Note payable to the order of VALIC in the original principal amount referenced therein, and that certain Promissory Note payable to the order of USL in the original principal amount referenced therein, each of even date herewith (collectively, the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Ohio Notes</font><font style="font-family:inherit;font-size:10pt;">&#8221;), which are collectively secured by that certain Open-End Mortgage, Security Agreement, Fixture Filing, and Assignment of Leases and Rents (Ohio) executed by GC Columbus for the benefit of Lender (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Ohio Security Instrument</font><font style="font-family:inherit;font-size:10pt;">&#8221;), covering certain real property more particularly described therein, (ii) Griffin (Houston Westgate II) Essential Asset REIT II, LLC, a Delaware limited liability company (&#8220;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">GC Houston</font><font style="font-family:inherit;font-size:10pt;">&#8221;), evidenced by that certain Promissory Note payable to the order of AGL in the original principal amount referenced therein, that certain Promissory Note payable to the order of VALIC in the original principal amount referenced therein, and that certain Promissory Note payable to the order of USL in the original principal amount referenced therein, each of even date herewith (collectively, the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Texas Notes</font><font style="font-family:inherit;font-size:10pt;">&#8221;), which are collectively secured by that certain Deed of Trust, Security Agreemen