SEC Contract Filing

Filing Date: 2018-01-04

Document Content:
<DOCUMENT>
<TYPE>EX-10.9
<SEQUENCE>10
<FILENAME>ex109meadowsnrh_guaranty.htm
<DESCRIPTION>EXHIBIT 10.9
<TEXT>
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<div><a name="s375cc5a12df348b7ba41462d1ad4b761"></a></div><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">EXHIBIT 10.9</font></div></div><div><br></div><div style="line-height:102%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Freddie Mac Loan Number: 708893449</font></div><div style="line-height:102%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Property Name: The Meadows at North Richland Hills</font></div><div style="line-height:102%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:102%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;font-weight:bold;">GUARANTY</font></div><div style="line-height:102%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:102%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;font-weight:bold;">MULTISTATE</font></div><div style="line-height:102%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:102%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;font-weight:bold;">(Revised 10-11-2017)</font></div><div style="line-height:102%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:102%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;">THIS GUARANTY (&#8220;</font><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;font-weight:bold;">Guaranty</font><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;">&#8221;) is entered into to be effective as of December 29, 2017, by </font><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;font-weight:bold;">STEADFAST APARTMENT REIT, INC.</font><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;">, a Maryland corporation (&#8220;</font><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;font-weight:bold;">Guarantor</font><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;">&#8221;, collectively if more than one), for the benefit of </font><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;font-weight:bold;">PNC BANK, NATIONAL ASSOCIATION</font><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;">, a national banking association (&#8220;</font><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;font-weight:bold;">Lender</font><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;">&#8221;).</font></div><div style="line-height:102%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:102%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;font-weight:bold;">RECITALS</font></div><div style="line-height:102%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:102%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;">A.</font></div></td><td style="vertical-align:top;"><div style="line-height:102%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;">Pursuant to the terms of a Multifamily Loan and Security Agreement dated the same date as this Guaranty (as amended, modified or supplemented from time to time, the "</font><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;font-weight:bold;">Loan Agreement</font><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;">"), </font><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;font-weight:bold;">STAR MEADOWS, LLC</font><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;">, a Delaware limited liability company (&#8220;</font><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;font-weight:bold;">Borrower</font><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;">&#8221;) has requested that Lender make a loan to Borrower in the amount of $25,624,000.00 (&#8220;</font><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;font-weight:bold;">Loan</font><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;">&#8221;). The Loan will be evidenced by one or more Multifamily Note(s) from Borrower to Lender dated effective as of the effective date of this Guaranty (as amended, modified or supplemented from time to time, and collectively if applicable, the &#8220;</font><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;font-weight:bold;">Note</font><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;">&#8221;). The Note will be secured by a Multifamily Mortgage, Deed of Trust, or Deed to Secure Debt dated effective as of t