MULTIFAMILY MORTGAGE, ASSIGNMENT OF RENTS AND SECURITY AGREEMENT (PENNSYLVANIA – REVISION DATE 05-11-2004)And Security Agreement • April 21st, 2011 • Preferred Apartment Communities Inc • Real estate investment trusts
THIS MULTIFAMILY MORTGAGE, ASSIGNMENT OF RENTS AND SECURITY AGREEMENT (the “Instrument”) is made to be effective as of the 15th day of April, 2011, between STONE RISE APARTMENTS, LLC, a limited liability company organized and existing under the laws of the State of Delaware, whose address is 3625 Cumberland Boulevard, Suite 400, Atlanta, Georgia 30339, as mortgagor (“Borrower”), and JONES LANG LASALLE OPERATIONS, L.L.C., a limited liability company organized and existing under the laws of the State of Illinois, whose address is 3344 Peachtree Road, N.E., Suite 1200, Atlanta, Georgia 30326, as mortgagee (“Lender”). Borrower's organizational identification number, if applicable, is DE-4326378.
MULTIFAMILY NOTE MULTISTATE – ADJUSTABLE RATE (Portfolio Execution) (Revised 2-15-2011)Preferred Apartment Communities Inc • April 21st, 2011 • Real estate investment trusts
FOR VALUE RECEIVED, STONE RISE APARTMENTS, 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 JONES LANG LASALLE OPERATIONS, L.L.C., an Illinois limited liability company, the principal sum of $19,500,000.00, with interest on the unpaid principal balance, as hereinafter provided.
