Item Collect Deferred N/A “Collect”, “Deferred”, or “N/A” as appropriate) Property Insurance premiums or premiums for other X Insurance required by Lender under Section 6.10 Taxes and payments in lieu of taxes X Water/sewer charges that could become a...Multifamily Loan and Security Agreement • September 30th, 2019 • Steadfast Income REIT, Inc. • Real estate investment trusts
PROPERTY MANAGEMENT AGREEMENTProperty Management Agreement • June 15th, 2018 • Steadfast Income REIT, Inc. • Real estate investment trusts
THIS PROPERTY MANAGEMENT AGREEMENT (this “Agreement”) is entered into as of June 11, 2018 (the “Effective Date”), by and between SIR JEFFERSON, LLC, a Delaware limited liability company (“Owner”), and STEADFAST MANAGEMENT COMPANY, INC., a California corporation (“Manager”).
MULTIFAMILY MORTGAGE, ASSIGNMENT OF RENTS AND SECURITY AGREEMENT (OKLAHOMA- REVISION DATE 05-11-2004)And Security Agreement • July 6th, 2012 • Steadfast Income REIT, Inc. • Real estate investment trusts
THIS MULTIFAMIL Y MORTGAGE, ASSIGNMENT OF RENTS AND SECURITY AGREEMENT (the "Instrument") is made as of the 6th day of September, 2007, between ESTANCIA TULSA, LLC, a limited liability company organized and existing under the laws of Delaware, whose address is 900 Brookstone Centre Parkway, Columbus, Georgia 31904, as mortgagor ("Borrower"), and CBRE MELODY & COMPANY, a corporation organized and existing under the laws of Texas, whose address is c/o GEMSA Loan Services, LP, 1500 City West Boulevard, Suite 200, Houston, Texas 77042, as mortgagee ("Lender"). Borrower's organizational identification number, if applicable, is DE-3973868.
ASSIGNMENT OF MANAGEMENT AGREEMENT AND SUBORDINATION OF MANAGEMENT FEESAssignment of Management Agreement • June 6th, 2018 • Steadfast Income REIT, Inc. • Real estate investment trusts
THIS ASSIGNMENT OF MANAGEMENT AGREEMENT AND SUBORDINATION OF MANAGEMENT FEES (“Assignment”) is made effective as of the 31st day of May, 2018, by and among SIR OAK CROSSING, LLC, a Delaware limited liability company (“Borrower”), PNC BANK, NATIONAL ASSOCIATION, a national banking association (“Lender”), and STEADFAST MANAGEMENT COMPANY, INC., a California corporation (“Property Manager”).
CONSTRUCTION MANAGEMENT SERVICES AGREEMENTConstruction Management Services Agreement • June 15th, 2018 • Steadfast Income REIT, Inc. • Real estate investment trusts
THIS CONSTRUCTION MANAGEMENT SERVICES AGREEMENT (this “Agreement”) is entered into as of June 11, 2018 by and between SIR JEFFERSON, LLC, a Delaware limited liability company (the “Company”), and PACIFIC COAST LAND & CONSTRUCTION, INC., a California corporation (the “Construction Manager”).
MULTIFAMILY NOTE FLOATING RATE (Revised 9-4-2015)Steadfast Income REIT, Inc. • July 5th, 2016 • Real estate investment trusts
FOR VALUE RECEIVED, SIR CAROL STREAM, LLC, a Delaware limited liability company (together with such party’s or parties’ successors and assigns, “Borrower”) jointly and severally (if more than one), promises to pay to the order of BERKELEY POINT CAPITAL LLC, a Delaware limited liability company, the principal sum of $23,193,000, with interest on the unpaid principal balance, as hereinafter provided.
GUARANTY MULTISTATE (Revised 9-4-2015)Steadfast Income REIT, Inc. • July 5th, 2016 • Real estate investment trusts
THIS GUARANTY (“Guaranty”) is entered into to be effective as of June 29, 2016, by STEADFAST INCOME REIT, INC. a Maryland corporation (“Guarantor”, collectively if more than one), for the benefit of PNC BANK, NATIONAL ASSOCIATION, a national banking association (“Lender”).
MULTIFAMILY NOTE FIXED RATE DEFEASANCESteadfast Income REIT, Inc. • June 6th, 2018 • Real estate investment trusts
FOR VALUE RECEIVED, SIR CARRINGTON PARK, LLC, a Delaware limited liability company (together with such party’s or parties’ successors and assigns, “Borrower”) jointly and severally (if more than one), promises to pay to the order of PNC BANK, NATIONAL ASSOCIATION, a national banking association, the principal sum of $19,670,000.00, with interest on the unpaid principal balance, as hereinafter provided.
MULTIFAMILY NOTE-CME MULTISTATE – FIXED RATE (REVISION DATE 6-1-2010)Steadfast Income REIT, Inc. • March 15th, 2012 • Real estate investment trusts
FOR VALUE RECEIVED, the undersigned (together with such party’s or parties’ successors and assigns, “Borrower”) jointly and severally (if more than one) promises to pay to the order of HOLLIDAY FENOGLIO FOWLER, L.P., a Texas limited partnership, the principal sum of Fourteen Million One Hundred Thousand and 00/100 Dollars (US $14,100,000.00), with interest on the unpaid principal balance, as hereinafter provided.
MULTIFAMILY MORTGAGE, ASSIGNMENT OF RENTS AND SECURITY AGREEMENT OHIO (Revised 3-1-2014)And Security Agreement • July 5th, 2016 • Steadfast Income REIT, Inc. • Real estate investment trusts
THIS MULTIFAMILY MORTGAGE, ASSIGNMENT OF RENTS AND SECURITY AGREEMENT (“Instrument”) is made to be effective this 29th day of June, 2016, between SIR MALLARD CROSSING, LLC, a limited liability company organized and existing under the laws of Delaware, whose mailing address is c/o Steadfast Companies, 18100 Von Karman Avenue, Suite 500, Irvine, California 92612, Attention: Ana Marie del Rio, General Counsel, as mortgagor (“Borrower”), and BERKELEY POINT CAPITAL LLC, a limited liability company organized and existing under the laws of Delaware, whose address is 770 Wisconsin Avenue, Suite 1100, Bethesda, Maryland 20814, as mortgagee (“Lender”). Borrower’s organizational identification number, if applicable, is 5447171.
AMENDED AND RESTATED ADVISORY AGREEMENT BY AND BETWEEN STEADFAST APARTMENT REIT, INC. AND STEADFAST APARTMENT ADVISOR, LLCAdvisory Agreement • August 6th, 2019 • Steadfast Income REIT, Inc. • Real estate investment trusts • Delaware
THIS AMENDED AND RESTATED ADVISORY AGREEMENT (this “Agreement”), entered into as of the 5th day of August, 2019, and which shall be effective as of the first to occur of the SIR Merger (as defined below) and the STAR III Merger (as defined below) (the “Effective Date”) is entered into by and among Steadfast Apartment REIT, Inc., a Maryland corporation (the “Company”) and Steadfast Apartment Advisor, LLC, a Delaware limited liability company (the “Advisor”). Capitalized terms used herein shall have the meanings ascribed to them in Section 1 below.
FORM OF ADVISORY AGREEMENT AMONG STEADFAST SECURE INCOME REIT, INC., STEADFAST SECURE INCOME REIT OPERATING PARTNERSHIP, L.P., AND STEADFAST SECURE INCOME ADVISOR, LLCAdvisory Agreement • July 23rd, 2009 • Steadfast Secure Income REIT, Inc. • Delaware
THIS ADVISORY AGREEMENT (this “Agreement”), dated as of the ___ day of , 2009, is entered into by and among Steadfast Secure Income REIT, Inc., a Maryland corporation (the “Company”), Steadfast Secure Income REIT Operating Partnership, L.P., a Delaware limited partnership (the “Operating Partnership”), and Steadfast Secure Income Advisor, LLC, a Delaware limited liability company (the “Advisor”). Capitalized terms used herein shall have the meanings ascribed to them in Section 1 below.
GUARANTY MULTISTATE (Revised 4-19-2018)Steadfast Income REIT, Inc. • June 6th, 2018 • Real estate investment trusts
THIS GUARANTY (“Guaranty”) is entered into to be effective as of May 31, 2018, by STEADFAST INCOME REIT, INC., a Maryland corporation (“Guarantor”, collectively if more than one), for the benefit of PNC BANK, NATIONAL ASSOCIATION, a national banking association (“Lender”).
MULTIFAMILY DEED OF TRUST, ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND FIXTURE FILING TEXAS (Revised 10-11-2017)Security Agreement and Fixture Filing • June 6th, 2018 • Steadfast Income REIT, Inc. • Real estate investment trusts
THIS MULTIFAMILY DEED OF TRUST, ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND FIXTURE FILING (“Instrument”) is made to be effective as of this 31st day of May, 2018, by SIR CARRINGTON PARK, LLC, a limited liability company organized and existing under the laws of Delaware, whose address is c/o Steadfast Companies, 18100 Von Karman Avenue, Suite 500, Irvine, California 92612, Attention - General Counsel: Ana Marie del Rio, as trustor (“Borrower”), to ANN JOHNSON, whose address is c/o Fidelity National Title, 1900 W. Loop South, Suite 200, Houston, Texas 77027, as trustee (“Trustee”), for the benefit of PNC BANK, NATIONAL ASSOCIATION, a national banking association, whose address is 26901 Agoura Road, Suite 200, Calabasas Hills, California 91301, Attention: Loan Servicing Manager, as beneficiary (“Lender”). Borrower’s organizational identification number, if applicable, is 5414273.
STEADFAST SECURE INCOME REIT, INC. Up to $1,650,000,000 in Shares of Common Stock, $0.01 par value per share FORM OF DEALER MANAGER AGREEMENTParticipating Dealer Agreement • July 23rd, 2009 • Steadfast Secure Income REIT, Inc. • Delaware
MULTIFAMILY LOAN AND SECURITY AGREEMENTMultifamily Loan and Security Agreement • November 14th, 2013 • Steadfast Income REIT, Inc. • Real estate investment trusts
This MULTIFAMILY LOAN AND SECURITY AGREEMENT (as amended, restated, replaced, supplemented or otherwise modified from time to time, the “Loan Agreement”) is made as of the Effective Date (as hereinafter defined) by and between SIR CARRINGTON CHAMPION, LLC, a Delaware limited liability company (“Borrower”), and BERKELEY POINT CAPITAL LLC, a Delaware limited liability company (“Lender”).
PURCHASE AND SALE AGREEMENT AND JOINT ESCROW INSTRUCTIONS by and between GARY L. SCHOTTENSTEIN, an individual, and BRETT KAUFMAN, an individual (together, “Seller”) as Owners of 100% of the Membership Interests in HILLIARD GRAND APARTMENTS, LLC, an...Purchase and Sale Agreement • January 7th, 2013 • Steadfast Income REIT, Inc. • Real estate investment trusts • Ohio
Exhibit “A” Real Property Description Exhibit “B” Parkland and Road Extension Description Exhibit “C” Personal Property Description Exhibit “D” TIF Declaration Exhibit “E” Due Diligence Documents Exhibit “F” Form of Assignment Exhibit “G” Form of Non-Foreign Certificate Exhibit “H” Form of Tenant Notice
PURCHASE AND SALE AGREEMENT AND JOINT ESCROW INSTRUCTIONSPurchase and Sale Agreement and Joint Escrow Instructions • June 15th, 2018 • Steadfast Income REIT, Inc. • Real estate investment trusts • Georgia
TERMS OF AGREEMENT (first reference in the Agreement) DESCRIPTION 1. Property (Recital A): The property situated in the City of Atlanta, County of DeKalb, State of Georgia described on Exhibit A attached hereto (the “Property”). 2. Buyer’s Notice Address (Section 13): Steadfast Asset Holdings, Inc. 18100 Von Karman, Suite 500 Irvine, California 92612 Attention: Ana Marie del Rio, General Counsel Email: AnaMarie.delRio@SteadfastCo.com Phone: (949) 852-0700 Fax No.: (949) 852-0143 With a copy to: Morris, Manning & Martin, LLP1600 Atlanta Financial Center3343 Peachtree Road, N.E.Atlanta, Georgia 30326Attention: Christina M. GrahamPhone: (404) 504-7652Email: cmg@mmmlaw.com
GUARANTY (CME AND PORTFOLIO) MULTISTATE (Revised 4-25-2013)Steadfast Income REIT, Inc. • November 14th, 2013 • Real estate investment trusts
THIS GUARANTY (“Guaranty”) is entered into to be effective as of October 10, 2013, by STEADFAST INCOME REIT, INC., a Maryland corporation (“Guarantor”, collectively if more than one), for the benefit of PNC BANK, NATIONAL ASSOCIATION, a national banking association (“Lender”).
ASSIGNMENT OF LEASES AND RENTS, SECURITY AGREEMENTSecurity Agreement • May 2nd, 2012 • Steadfast Income REIT, Inc. • Real estate investment trusts
This MULTIFAMILY MORTGAGE, ASSIGNMENT OF LEASES AND RENTS, SECURITY AGREEMENT AND FIXTURE FILING (as amended, restated, replaced, supplemented, or otherwise modified from time to time, the “Security Instrument”) dated as of April 26, 2012, is executed by SIR MONTCLAIR PARC, LLC, a limited liability company organized and existing under the laws of Delaware, to and for the benefit of PNC BANK, NATIONAL ASSOCIATION, a national banking association, as mortgagee (“Lender”).
PURCHASE AND SALE AGREEMENT BETWEEN ESTANCIA TULSA, LLC, a Delaware limited liability company AS SELLER, AND STEADFAST ASSET HOLDINGS, INC. a California corporation AS PURCHASER As of February 15, 2012Purchase and Sale Agreement • July 6th, 2012 • Steadfast Income REIT, Inc. • Real estate investment trusts • Oklahoma
THIS PURCHASE AND SALE AGREEMENT (this “Agreement”) is made as of February 15, 2012 (the “Effective Date”), by and between ESTANCIA TULSA, LLC, a Delaware limited liability company (“Seller”), and STEADFAST ASSET HOLDINGS, INC., a California corporation (“Purchaser”).
GUARANTY OF NON-RECOURSE OBLIGATIONSGuaranty of Non-Recourse Obligations • May 2nd, 2012 • Steadfast Income REIT, Inc. • Real estate investment trusts
This GUARANTY OF NON-RECOURSE OBLIGATIONS (this “Guaranty”), dated as of April 26, 2012, is executed by the undersigned (“Guarantor”), to and for the benefit of PNC BANK, NATIONAL ASSOCIATION, a national banking association (“Lender”).
ENVIRONMENTAL INDEMNITY AGREEMENTEnvironmental Indemnity Agreement • May 2nd, 2012 • Steadfast Income REIT, Inc. • Real estate investment trusts
This ENVIRONMENTAL INDEMNITY AGREEMENT (this “Agreement”), dated as of April 26, 2012, is executed by SIR MONTCLAIR PARC, LLC, a Delaware limited liability company (“Borrower”), to and for the benefit of PNC BANK, NATIONAL ASSOCIATION, a national banking association (“Lender”).
AMENDED AND RESTATED LIMITED PARTNERSHIP AGREEMENT OF STEADFAST SECURE INCOME REIT OPERATING PARTNERSHIP, L.P. A DELAWARE LIMITED PARTNERSHIP September 28, 2009Limited Partnership Agreement • October 15th, 2009 • Steadfast Secure Income REIT, Inc. • Real estate investment trusts • Delaware
This Amended and Restated Limited Partnership Agreement is entered into this 28 day of September, 2009, between Steadfast Secure Income REIT, Inc., a Maryland corporation (the “General Partner”), and the Initial Limited Partner (defined below). Capitalized terms used herein but not otherwise defined shall have the meanings given them in Article 1.
MULTIFAMILY DEED OF TRUST, ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND FIXTURE FILING TEXAS (Revised 7-17-2014)And Security Agreement • July 5th, 2016 • Steadfast Income REIT, Inc. • Real estate investment trusts
THIS MULTIFAMILY DEED OF TRUST, ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND FIXTURE FILING (“Instrument”) is made to be effective this 29th day of June, 2016, by SIR GRAYSON RIDGE, LLC, a limited liability company organized and existing under the laws of Delaware, whose address is c/o Steadfast Companies, 18100 Von Karman Avenue, Suite 500, Irvine, California 92612, Attention: Ana Marie del Rio, General Counsel, as trustor (“Borrower”), to MELISSA A. JOHNSON, as trustee (“Trustee”), for the benefit of BERKELEY POINT CAPITAL LLC, a limited liability company organized and existing under the laws of Delaware, whose address is 7700 Wisconsin Avenue, Suite 1100, Bethesda, Maryland 20814, as beneficiary (“Lender”). Borrower’s organizational identification number, if applicable, is 5337635.
MULTIFAMILY MORTGAGE, ASSIGNMENT OF RENTS AND SECURITY AGREEMENT (OKLAHOMA – REVISION DATE 03-31-2008)Security Agreement • March 15th, 2012 • Steadfast Income REIT, Inc. • Real estate investment trusts
THIS MULTIFAMILY MORTGAGE, ASSIGNMENT OF RENTS AND SECURITY AGREEMENT (the “Instrument”) is made as of the 31st day of January, 2011, between WC/TP SPRING CREEK, LLC, a limited liability company organized and existing under the laws of Delaware, whose address is 8111 Preston Road, Suite 715, Dallas, Texas 75225, as mortgagor (“Borrower”), and HOLLIDAY FENOGLIO FOWLER, L.P., a limited partnership organized and existing under the laws of Texas, whose address is 9 Greenway Plaza, Suite 700, Houston, Texas 77046, as mortgagee (“Lender”). Borrower’s organizational identification number, if applicable, is 4486082.
ASSIGNMENT OF MANAGEMENT AGREEMENTAssignment of Management Agreement • May 2nd, 2012 • Steadfast Income REIT, Inc. • Real estate investment trusts
This ASSIGNMENT OF MANAGEMENT AGREEMENT (this “Assignment”) dated as of April 26, 2012, is executed by and among (i) SIR MONTCLAIR PARC, LLC, a Delaware limited liability company (“Borrower”), (ii) PNC BANK, NATIONAL ASSOCIATION, a national banking association (“Lender”), and (iii) STEADFAST MANAGEMENT COMPANY, INC., a California corporation (“Manager”).
MULTIFAMILY DEED OF TRUST, ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND FIXTURE FILING TEXAS (Revised 7-17-2014)Security Agreement • July 5th, 2016 • Steadfast Income REIT, Inc. • Real estate investment trusts
THIS MULTIFAMILY DEED OF TRUST, ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND FIXTURE FILING (“Instrument”) is made to be effective this 29th day of June, 2016, by SIR KINGWOOD VILLAS, LLC, a limited liability company organized and existing under the laws of Delaware, whose address is c/o Steadfast Companies, 18100 Von Karman Avenue, Suite 500, Irvine, California 92612, Attention: Ana Marie del Rio, General Counsel, as trustor (“Borrower”), to GARY S. FARMER, whose address is 401 Congress, Suite 1500, Austin, Texas 78701, as trustee (“Trustee”), for the benefit of PNC BANK, NATIONAL ASSOCIATION, a national banking association, whose address is 26901 Agoura Road, Suite 200, Calabasas Hills, California 91301, Attention: Loan Servicing Manager, as beneficiary (“Lender”). Borrower’s organizational identification number, if applicable, is 5406342.
ASSIGNMENT AND ASSUMPTION OF PURCHASE AGREEMENTAssignment and Assumption of Purchase Agreement • November 14th, 2013 • Steadfast Income REIT, Inc. • Real estate investment trusts
For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, STEADFAST ASSET HOLDINGS, INC., a California corporation (“Assignor”), hereby assigns to SIR CARRINGTON CHAMPION, LLC, a Delaware limited liability company (“Assignee”), that portion of Assignor’s rights and obligations under and in regard to that certain Real Estate Purchase and Sale Agreement dated August 23, 2012 (as may have been or may hereafter be amended, the “Purchase Agreement”), by and among TEL-LA Villas Kingwood, LLC, TEL-LA Champion Forest, LLC, TEL-LA Carrington Huffmeister, LLC, TEL-LA Villas Huffmeister, LLC, TEL-LA Riata Ranch, LLC and TEL-LA Carrington Place Apartments, LLC, each a Delaware limited liability company, and Assignor for the purchase and sale of that certain portfolio of real properties located in the Houston, Texas area (“Portfolio”).
Security Instrument" means the multifamily mortgage, deed to secure debt or deed of trust effective as of the effective date of this Note, from Borrower to or for the benefit of Lender and securing this Note, as amended, modified or supplemented from...Steadfast Income REIT, Inc. • September 30th, 2019 • Real estate investment trusts
REIMBURSEMENT AND CREDIT AGREEMENT Dated as of January 26, 2012 between SIR WINDSOR ON THE RIVER, LLC and PNC BANK, NATIONAL ASSOCIATIONReimbursement and Credit Agreement • February 1st, 2012 • Steadfast Income REIT, Inc. • Real estate investment trusts • Pennsylvania
THIS REIMBURSEMENT AND CREDIT AGREEMENT (this “Agreement”), made as of January 26, 2012 between SIR WINDSOR ON THE RIVER, LLC (the “Borrower”), a limited liability company organized and existing under the laws of the Delaware, and PNC BANK, NATIONAL ASSOCIATION (the “Bank”), a national banking association,
ASSIGNMENT AND ASSUMPTION OF PURCHASE AGREEMENTAssignment and Assumption of Purchase Agreement • June 17th, 2011 • Steadfast Income REIT, Inc. • Real estate investment trusts
For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, STEADFAST ASSET HOLDINGS, INC., a California corporation (“Assignor”), hereby assigns to SIR CLARION PARK, LLC, a Delaware limited liability company (“Assignee”), all of Assignor’s rights and obligations under and in regard to that certain Purchase and Sale Agreement and Joint Escrow Instructions dated May 3, 2011, as amended to the date hereof (as amended, the “Purchase Agreement”), between Olathe Housing Associates Limited Partnership (“Seller”) and Assignor for the purchase and sale of that certain real property located in Olathe, Kansas, as more particularly described in Exhibit A attached hereto (the “Property”).
SECOND AMENDMENT TO PURCHASE AND SALE AGREEMENTPurchase and Sale Agreement • May 31st, 2012 • Steadfast Income REIT, Inc. • Real estate investment trusts
This SECOND AMENDMENT TO PURCHASE AND SALE AGREEMENT (“Amendment”) is dated as of May 8, 2012, and entered into by and between SONOMA GRANDE TULSA, LLC, a Delaware limited liability company (“Seller”), and STEADFAST ASSET HOLDINGS, INC., a California corporation (“Buyer”).
MULTIFAMILY DEED OF TRUST, ABSOLUTE ASSIGNMENT OF LEASES AND RENTS AND SECURITY AGREEMENT (INCLUDING FIXTURE FILING) TENNESSEE (Revised 3-1-2014)And Security Agreement • August 3rd, 2016 • Steadfast Income REIT, Inc. • Real estate investment trusts • Virginia
THIS MULTIFAMILY DEED OF TRUST, ABSOLUTE ASSIGNMENT OF LEASES AND RENTS AND SECURITY AGREEMENT (INCLUDING FIXTURE FILING) (“Instrument”) is made as of this 29th day of July, 2016, by SIR AUDUBON PARK, LLC, a limited liability company organized and existing under the laws of Delaware, whose address is c/o Steadfast Companies, 18100 Von Karman Avenue, Suite 500, Irvine, California 92612, Attention - General Counsel: Ana Marie del Rio, as grantor (“Borrower”), to JOSEPH B. PITT, JR., as trustee, a resident of Davidson County, Tennessee, whose address is 6840 Carothers Parkway, Suite 200, Franklin, Tennessee 37067, (“Trustee”), for the benefit of PNC BANK, NATIONAL ASSOCIATION, a national banking association, whose address is 26901 Agoura Road, Suite 200, Calabasas Hills, California 91301, Attention: Loan Servicing Manager, as beneficiary (“Lender”).
PURCHASE MONEY NOTEPurchase Money Note • November 12th, 2010 • Steadfast Income REIT, Inc. • Real estate investment trusts
FOR VALUE RECEIVED, the undersigned (“Borrower”) jointly and severally (if more than one) promises to pay to the order of TOWNE REALTY, INC. d/b/a LINCOLN TOWER, INC., the principal sum of Six Million Six Hundred Fifty Thousand and No/100 Dollars (US $6,650,000.00) or so much thereof as shall be outstanding from time to time, with interest accruing at the Interest Rate on the unpaid principal balance from the Disbursement Date until fully paid.
