LIMITED LIABILITY COMPANY AGREEMENT OF GGT PATTERSON PLACE NC VENTURE, LLCLimited Liability Company Agreement • July 1st, 2013 • CNL Growth Properties, Inc. • Real estate investment trusts • Delaware
This Limited Liability Company Agreement of GGT PATTERSON PLACE NC VENTURE, LLC (this “Agreement”) is entered into and shall be effective as of the 25th day of June, 2013, by and between BAINBRIDGE PATTERSON PLACE, LLC, a Florida limited liability company (“Bainbridge”), and GGT PATTERSON PLACE HOLDINGS, LLC, a Delaware limited liability company (“CNL”), pursuant to the provisions of the Delaware Limited Liability Company Act (the “Act”). Bainbridge and CNL are sometimes referred to herein, collectively, as the Members and individually as a Member.
CONSTRUCTION LOAN AGREEMENT (Secured by Real Property)Construction Loan Agreement • July 1st, 2013 • CNL Growth Properties, Inc. • Real estate investment trusts • District of Columbia
This Construction Loan Agreement (“Agreement”) is dated as June 26, 2013, by and between GGT PATTERSON PLACE NC VENTURE, LLC, a Delaware limited liability company (“Borrower”), whose address for notice purposes is 12765 W. Forest Hill Blvd., Suite 1307, Wellington, Florida, 33414, and FIRST-CITIZENS BANK & TRUST COMPANY, a North Carolina banking corporation (“Lender”), whose address for notice purposes is First-Citizens Bank & Trust Company, ATTN: Loan Servicing Department – DAC20, P.O. Box 26592, Raleigh, North Carolina 27611-6592.
ASSIGNMENT AND ASSUMPTION OF PURCHASE AND SALE AGREEMENT (Patterson Place)Assignment and Assumption • July 1st, 2013 • CNL Growth Properties, Inc. • Real estate investment trusts
This Assignment and Assumption of Purchase and Sale Agreement is made and entered into this 26th day of June, 2013, by and between BAINBRIDGE COMMUNITIES ACQUISITION I, LLC, a Florida limited liability company (“Assignor”) and GGT PATTERSON PLACE NC VENTURE, LLC, a Delaware limited liability company (“Assignee”).
PURCHASE AND SALE AGREEMENTPurchase and Sale Agreement • July 1st, 2013 • CNL Growth Properties, Inc. • Real estate investment trusts • North Carolina
THIS PURCHASE AND SALE AGREEMENT is made and entered into as of 5th day of March, 2012 (the “Effective Date”), by and between Boulevard Forest & Trees LLC, a North Carolina limited liability company ("Seller"), and Bainbridge Communities Acquisition I, LLC, a Florida limited liability company ("Buyer"). Seller and Buyer are sometimes referred to herein as the “Parties.”
PROMISSORY NOTECNL Growth Properties, Inc. • July 1st, 2013 • Real estate investment trusts
FOR VALUE RECEIVED, the undersigned (“Borrower”), promises to pay to the order of FIRST-CITIZENS BANK & TRUST COMPANY (“Lender”), a North Carolina banking corporation, at its Loan Operations Center located at 100 East Tryon Road, Raleigh, North Carolina, or at such other place as the holder hereof may from time to time designate in writing, in collected funds or U.S. legal tender, the principal sum of TWENTY EIGHT MILLION NINETY FIVE THOUSAND SIX HUNDRED SEVENTY FOUR DOLLARS ($28,095,674.00), or so much thereof as may from time to time be owing under this Promissory Note (“Note”), together with interest accrued from the date hereof on the unpaid principal balance at the interest rate or rates per annum specified below, until paid in full. Borrower also promises to pay (i) late charges, prepayment penalties, and other fees and charges as specified herein, and (ii) the cost of all fees paid or to be paid to public officials for recording, perfecting, maintaining, canceling and/or releasi
