UNSECURED PROMISSORY NOTE (this “Note”)Unsecured Promissory Note • January 4th, 2007 • NNN Apartment REIT, Inc. • Real estate investment trusts
FOR VALUE RECEIVED, NNN Apartment REIT Holdings, L.P., a Virginia limited partnership (“Borrower”), unconditionally promises to pay NNN Realty Advisors, Inc., a Delaware corporation (“Lender”), in the manner and at the place hereinafter provided, the principal amount of Ten Million Dollars ($10,000,000).
PROMISSORY NOTEIndemnity Agreement • January 4th, 2007 • NNN Apartment REIT, Inc. • Real estate investment trusts
FOR VALUE RECEIVED, the undersigned, APARTMENT REIT HIDDEN LAKES, LP, a Texas limited partnership (“Borrower”), having an address at c/o Triple Net Properties, LLC, 1551 North Tustin Avenue, Suite 300, Santa Ana, California 92705, promises to pay to the order of WACHOVIA BANK, NATIONAL ASSOCIATION, a national banking association (together with its successors and assigns, “Lender”), at the office of Lender at Commercial Real Estate Services, 8739 Research Drive URP — 4, NC 1075, Charlotte, North Carolina 28262, or at such other place as Lender may designate to Borrower in writing from time to time, the principal sum of Nineteen Million Two Hundred Eighteen Thousand and No/100 Dollars ($19,218,000.00), together with interest on so much thereof as is from time to time outstanding and unpaid, from the date of the advance of the principal evidenced hereby, at the rate of five and thirty-four one-hundredths percent (5.34%) (the “Note Rate”) or the Maximum Lawful Rate (as hereinafter defined)
SEC INDEMNITY AND GUARANTY AGREEMENTSec Indemnity and Guaranty Agreement • January 4th, 2007 • NNN Apartment REIT, Inc. • Real estate investment trusts
THIS SEC INDEMNITY AND GUARANTY AGREEMENT (as the same may hereafter be amended, consolidated, renewed or replaced, this “Agreement”), made as of December 28, 2006, by NNN APARTMENT REIT, INC., a Maryland corporation (“Indemnitor”), whose address is c/o Triple Net Properties, LLC, 1551 North Tustin Avenue, Suite 300, Santa Ana, California 92705, in favor of WACHOVIA BANK, NATIONAL ASSOCIATION, a national banking association (together with its successors and assigns, “Lender”), whose address is Commercial Real Estate Services, 8739 Research Drive URP — 4, NC 1075, Charlotte, North Carolina 28262.
CONTRACT OF SALEContract of Sale • January 4th, 2007 • NNN Apartment REIT, Inc. • Real estate investment trusts • Texas
THIS CONTRACT OF SALE (this “Contract”) is made and entered as of the Effective Date (as hereinafter defined) by and between TR HIDDEN LAKE PARTNERS, LTD., a Texas limited partnership (“Seller”), and TRIPLE NET PROPERTIES, LLC, a Virginia limited liability company (“Buyer”).
Re: Contract of Sale (the “Contract”) by and between TR Hidden Lake Partners, Ltd. (“Seller”) and Triple Net Properties, LLC (“Buyer”) with Effective Date of May 8, 2005.NNN Apartment REIT, Inc. • January 4th, 2007 • Real estate investment trusts
In accordance with the requirements of Section 4.(a) of the Contract, Seller is to Buyer the attached certificates of occupancy for the four (4) new buildings located at Hidden Lake Apartments in San Antonio. As a result, the “Closing Date” is now established to be October 12, 2006.
ASSIGNMENT OF CONTRACTAssignment of Contract • January 4th, 2007 • NNN Apartment REIT, Inc. • Real estate investment trusts
THIS ASSIGNMENT OF CONTRACT (the “Assignment”) is made as of the 28th day of December 2006, by Triple Net Properties, LLC, a Virginia limited liability company (“Assignor”) to Apartment REIT Hidden Lakes, LP., a Texas limited partnership (“Assignee”).
this instrument prepared by and when recorded return to: Kilpatrick Stockton LLP Hearst Tower, Suite 2500NNN Apartment REIT, Inc. • January 4th, 2007 • Real estate investment trusts
THIS ASSIGNMENT OF LEASES AND RENTS (as the same may be hereafter amended, restated or modified, this “Assignment”) made as of December 28, 2006, by APARTMENT REIT HIDDEN LAKES, LP, a Texas limited partnership (“Borrower”), having an address at c/o Triple Net Properties, LLC, 1551 North Tustin Avenue, Suite 300, Santa Ana, California 92705, in favor of WACHOVIA BANK, NATIONAL ASSOCIATION, a national banking association (together with its successors and assigns, “Lender”), whose address is Commercial Real Estate Services, 8739 Research Drive URP — 4, NC 1075, Charlotte, North Carolina 28262.
INDEMNITY AND GUARANTY AGREEMENTIndemnity and Guaranty Agreement • January 4th, 2007 • NNN Apartment REIT, Inc. • Real estate investment trusts
THIS INDEMNITY AND GUARANTY AGREEMENT (as the same may hereafter be amended, consolidated, renewed or replaced, this “Agreement”), made as of December 28, 2006, by NNN APARTMENT REIT, INC., a Maryland corporation (“Indemnitor”), whose address is 1551 North Tustin Avenue, Suite 300, Santa Ana, California 92705, in favor of WACHOVIA BANK, NATIONAL ASSOCIATION, a national banking association (together with its successors and assigns, “Lender”), whose address is Commercial Real Estate Services, 8739 Research Drive URP — 4, NC 1075, Charlotte, North Carolina 28262.
APARTMENT REIT HIDDEN LAKES, LP, as Borrower to WILLIAM M. WOODALL, as Trustee For the benefit of WACHOVIA BANK, NATIONAL ASSOCIATION, as Lender DEED OF TRUST, SECURITY AGREEMENT AND FIXTURE FILING Dated as of: December 28, 2006Security Agreement and Fixture • January 4th, 2007 • NNN Apartment REIT, Inc. • Real estate investment trusts
THIS DEED OF TRUST, SECURITY AGREEMENT AND FIXTURE FILING (as the same may from time to time be amended, consolidated, renewed or replaced, this “Deed of Trust”) is made as of December 28, 2006 by APARTMENT REIT HIDDEN LAKES, LP, a Texas limited partnership (“Borrower”), having an address at c/o Triple Net Properties, LLC, 1551 North Tustin Avenue, Suite 300, Santa Ana, California 92705, to WILLIAM M. WOODALL, an individual and resident of Texas, as Trustee (“Trustee”), having an address at 8201 Preston Road, Suite 280, Dallas, Texas 75225, for the benefit of WACHOVIA BANK, NATIONAL ASSOCIATION, a national banking association, as beneficiary (together with its successors and assigns, “Lender”), whose address is Commercial Real Estate Services, 8739 Research Drive URP — 4, NC 1075, Charlotte, North Carolina 28262.
AMENDMENT TO CONTRACT OF SALEContract of Sale • January 4th, 2007 • NNN Apartment REIT, Inc. • Real estate investment trusts
This Amendment to Contract of Sale (“Amendment”), the effective date of which is June 2, 2006, is entered into by TR HIDDEN LAKE PARTNERS, LTD., a Texas limited partnership (“Seller”) and TRIPLE NET PROPERTIES, LLC, a Virginia limited liability company (“Buyer”). Buyer and Seller are sometimes collectively referred to herein as the “Parties”.
UNSECURED PROMISSORY NOTE (this “Note”)Unsecured Promissory Note • January 4th, 2007 • NNN Apartment REIT, Inc. • Real estate investment trusts
FOR VALUE RECEIVED, NNN Apartment REIT Holdings, L.P., a Virginia limited partnership (“Borrower”), unconditionally promises to pay NNN Realty Advisors, Inc., a Delaware corporation (“Lender”), in the manner and at the place hereinafter provided, the principal amount of Ten Million Dollars ($10,000,000).
AMENDMENT TO CONTRACT OF SALEContract of Sale • January 4th, 2007 • NNN Apartment REIT, Inc. • Real estate investment trusts
This Amendment to Contract of Sale (“Amendment”), the effective date of which is September 25, 2006, is entered into by TR HIDDEN LAKE PARTNERS, LTD., a Texas limited partnership (“Seller”) and TRIPLE NET PROPERTIES, LLC, a Virginia limited liability company (“Buyer”). Buyer and Seller are sometimes collectively referred to herein as the “Parties”.
ASSIGNMENT OF WARRANTIES AND OTHER CONTRACT RIGHTSNNN Apartment REIT, Inc. • January 4th, 2007 • Real estate investment trusts
THIS ASSIGNMENT OF WARRANTIES AND OTHER CONTRACT RIGHTS (as the same may be hereafter amended, restated or modified, this “Assignment”), made as of December 28, 2006, by Apartment REIT Hidden Lakes, LP, a Texas limited partnership (“Borrower”), having an address at c/o Triple Net Properties, LLC, 1551 North Tustin Avenue, Suite 200, Santa Ana, California 92705, in favor of Wachovia Bank, National Association, a national banking association (together with its successors and assigns, “Lender”), whose address is Commercial Real Estate Services, 8739 Research Drive URP - 4, NC 1075, Charlotte, North Carolina 28262.
Hirschler Fleischer letterhead]NNN Apartment REIT, Inc. • January 4th, 2007 • Real estate investment trusts
Re: Contract of Sale Between TR Hidden Lake Partners, Ltd., a Texas limited partnership, as seller and Triple Net Properties, LLC, a Virginia limited liability company, as purchaser
AMENDMENT TO CONTRACT OF SALEContract of Sale • January 4th, 2007 • NNN Apartment REIT, Inc. • Real estate investment trusts
This Amendment to Contract of Sale (“Amendment”), the effective date of which is November 27, 2006, is entered into by TR HIDDEN LAKE PARTNERS, LTD., a Texas limited partnership (“Seller”) and TRIPLE NET PROPERTIES, LLC, a Virginia limited liability company (“Buyer”). Buyer and Seller are sometimes collectively referred to herein as the “Parties”.
