SEC Contract Filing

Filing Date: 2015-12-09

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ireit-exh101.htm
<DESCRIPTION>LOAN AGREEMENT
<TEXT>
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<HEAD>
 <TITLE></TITLE>
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<P STYLE="margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B><U>Exhibit 10.1</U></B></FONT></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0.5in 0 24pt; text-align: center; border-top: Black 1.5pt double">LOAN
AGREEMENT</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">Dated as of December 3, 2015</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">By and Between</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center"><B>IREIT PITTSBURGH SETTLERS RIDGE, L.L.C.</B>,<BR>
as Borrower,</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center"><B>METROPOLITAN LIFE INSURANCE COMPANY</B>,<BR>
as Lender</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">Property:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">Settlers Ridge<BR>
200 Settlers Ridge Center Drive<BR>
Pittsburgh, Pennsylvania</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">Loan Amount: $76,532,500.00</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center">Table
of Contents</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0.25in; text-align: right"><U>Page</U></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; text-transform: uppercase">
 <TD STYLE="width: 90%; text-align: left; text-indent: -0.55in; padding-top: 16pt; padding-bottom: 3pt; padding-left: 0.55in">I.&nbsp;&nbsp;&nbsp;DEFINITIONS; PRINCIPLES OF CONSTRUCTION</TD>
 <TD STYLE="width: 10%; text-align: right; padding-top: 16pt; padding-bottom: 3pt">1</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
 <TD STYLE="text-align: left; text-indent: -1.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 91.45pt">Section 1.1&nbsp;&nbsp;&nbsp;Definitions</TD>
 <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">1</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
 <TD STYLE="text-align: left; text-indent: -1.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 91.45pt">Section 1.2&nbsp;&nbsp;&nbsp;Principles of Construction</TD>
 <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">18</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; text-transform: uppercase">
 <TD STYLE="text-align: left; text-indent: -0.55in; padding-top: 16pt; padding-bottom: 3pt; padding-left: 0.55in">II.&nbsp;&nbsp;&nbsp;THE LOAN</TD>
 <TD STYLE="text-align: right; padding-top: 16pt; padding-bottom: 3pt">18</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
 <TD STYLE="text-align: left; text-indent: -1.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 91.45pt">Section 2.1&nbsp;&nbsp;&nbsp;The Loan</TD>
 <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">18</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
 <TD STYLE="text-align: left; text-indent: -1.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 91.45pt">Section 2.2&nbsp;&nbsp;&nbsp;Interest Rate</TD>
 <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">19</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
 <TD STYLE="text-align: left; text-indent: -1.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 91.45pt">Section 2.3&nbsp;&nbsp;&nbsp;Loan Payments</TD>
 <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">20</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
 <TD STYLE="text-align: left; text-indent: -1.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 91.45pt">Section 2.4&nbsp;&nbsp;&nbsp;Prepayments</TD>
 <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">21</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; text-transform: uppercase">
 <TD STYLE="text-align: left; text-indent: -0.55in; padding-top: 16pt; padding-bottom: 3pt; padding-left: 0.55in">III.&nbsp;&nbsp;&nbsp;RESERVE FUNDS</TD>
 <TD STYLE="text-align: right; padding-top: 16pt; padding-bottom: 3pt">22</TD></TR>
<TR STYLE="text-align: left; vertical-align: b