BUILDING LOAN AGREEMENT



                          dated as of April 17, 2001







                                     among





                 FRIT SAN JOSE TOWN AND COUNTRY VILLAGE, LLC,

              SAN JOSE RESIDENTIAL, INC. AND STREET RETAIL, INC.,

                      jointly and severally, as Borrower,





                       COMMERZBANK AG, NEW YORK BRANCH,

                      as Lender and Administrative Agent,





                             FLEET NATIONAL BANK,

                       as Lender and Syndication Agent,







             BAYERISCHE HYPO- UND VEREINSBANK AG, NEW YORK BRANCH,

                       as Lender and Documentation Agent







                                      and





                        THE OTHER LENDERS NAMED HEREIN,

                                  as Lenders



   =========================================================================



                             LOCATION OF PREMISES:



                   San Jose, Santa Clara County, California

{PAGE}



     BUILDING LOAN AGREEMENT ("this Agreement") dated as of April 17, 2001 by

and among FRIT San Jose Town and Country Village, LLC, a California limited

liability company ("FRIT LLC"), San Jose Residential, Inc., a Maryland

corporation ("SJR") and Street Retail, Inc., a Maryland corporation (SRI; FRIT

LLC, SJR and SRI, hereinafter, jointly and severally, "Borrower"), Commerzbank

AG, New York Branch (in its individual capacity and not as Administrative Agent,

"Commerz"), Fleet National Bank ("Fleet"), Bayerische Hypo- und Vereinsbank AG,

New York Branch ("HVB") and the other lenders who are signatories to this

Agreement (Commerz, Fleet, HVB, the other Lenders who are signatory to this

Agreement and each other lender who may become a Lender pursuant to Section

3.05, Section 7.20 or Section 8.12, each, a "Lender" and collectively,

"Lenders") and Commerzbank AG, New York Branch, as Administrative Agent for

Lenders (together with its successors in such capacity, "Administrative Agent").



     Borrower desires that Lenders extend credit as provided herein, and Lenders

are prepared to extend such credit on the terms and conditions hereinafter set

forth.



     NOW, THEREFORE, in consideration of the mutual promises and agreements

herein contained, Borrower, Administrative Agent and Lenders hereby agree as

follows:



                                   ARTICLE I



                     DEFINITIONS AND RULES OF CONSTRUCTION

                     -------------------------------------



     Section 1.01   Definitions.  The following terms, as used herein, shall

                    -----------

have the following meanings:



"Additional Costs" -- Any costs, losses or expenses actually incurred by any

 ----------------

     Lender which it determines are attributable to its making or maintaining

     its Pro Rata Share of the Loan, or its obligation to make any Loan

     advances, or any reduction in any amount receivable by any Lender under the

     Loan or its Note.



"Administrative Agent's Office" -- Administrative Agent's Office as set forth on

 -----------------------------

     the signature page of this Agreement, or such other address in the United

     States as Administrative Agent may designate by notice to Borrower and

     Lenders.



"Affected Lender" -- Has the meaning specified in Section 3.05.

 ---------------



"Affiliate" -- With respect to any Person (the "first Person"), any other Person

 ---------

     (i) which directly or indirectly controls, or is controlled by, or is under

     common control with, the first Person or (ii) 10% or more of the beneficial

     interest in which is directly or indirectly owned or held by the first

     Person.  The term "control" means the possession, directly or indirectly,

     of the power, alone, to direct or cause the direction of the management and

     policies of a Person, whether through the ownership of voting securities,

     by contract, or otherwise.



"Agents" -- Collectively, Commerz, Fleet and HVB.

 ------

{PAGE}



"Agents' Response Period" -- Has the meaning given to such term in Section 8.25.

 -----------------------



"Allocated Amounts" -- The amounts to be reasonably allocated by the Required

 -----------------

     Lenders to various portions of the Premises (other than the Excess Land) on

     a cost basis at the time of the release of such portions as contemplated by

     Section 8.24.



"Applicable Lending Office" -- For each Lender and for the portions of the

 -------------------------

     outstanding principal balance under its Note bearing interest at the Prime

     Based Rate or the LIBO Based Rate, as applicable, the lending office of

     such Lender (or of an Affiliate of such Lender) designated as such on the

     signature page hereof or in the applicable Assignment and Assumption

     Agreement, or such other office of such Lender (or of an Affiliate of such

     Lender) as such Lender may from time to time specify to Administrative

     Agent and Borrower as the office by which the portions of the outstanding

     principal balance under its Note bearing interest at the Prime Based Rate

     or the LIBO Based Rate, as applicable, are to be made and maintained.



"Applicable Margin" -- With respect to the Prime Based Rate, 0.375% per annum;

 -----------------

     and with respect to the LIBO Based Rate, 2.125% per annum, subject, in each

     case, to reduction in accordance with Section 2.20.



"Assignee" -- Has the meaning specified in Section 8.12.

 --------



"Assignment and Assumption Agreement" -- An Assignment and Assumption Agreement,

 -----------------------------------

Home        Intelligence        Services        Subscriptions        News        About Us

Contact Us       Terms of Use       Resend Documents       Shopping Cart

Copyright © 2008 The Consus Group LLC