Joinder to Subsidiary Guaranty by Multiple AERC Entities for National City Bank Loan
This agreement, dated March 20, 2008, is a joinder by several subsidiaries of Associated Estates Realty Corporation (AERC) to an existing Subsidiary Guaranty. By signing, these subsidiaries agree to become parties to the Guaranty, which supports a loan from National City Bank and other lenders to AERC. The subsidiaries commit to all obligations and terms of the original Guaranty, ensuring they are responsible for guaranteeing the loan as required by the related Credit Agreement.
JOINDER TO SUBSIDIARY GUARANTY
THIS JOINDER is executed as of March 20, 2008 by the undersigned, each of which hereby agrees as follows:
1. All capitalized terms used herein and not defined in this Joinder shall have the meanings provided in that certain Subsidiary Guaranty (the “Guaranty”) dated as of April 24, 2007 executed for the benefit of National City Bank, as agent for itself and certain other lenders, with respect to a loan from the Lenders to Associated Estates Realty Corporation (“Borrower”).
2. As required by the Credit Agreement described in the Guaranty, as such Credit Agreement has been amended by a First Amendment thereto dated as of the date of this Joinder with the consent of all of the Subsidiary Guarantors, each of the undersigned is executing this Joinder to become a party to the Guaranty.
3. Each and every term, condition, representation, warranty, and other provision of the Guaranty, by this reference, is incorporated herein as if set forth herein in full and the undersigned agrees to fully and timely perform each and every obligation of a Subsidiary Guarantor under such Guaranty.
AERC ARROWHEAD STATION, INC.
By: /s/ Martin A. Fishman
Name: Martin A. Fishman
Title: Vice President
FEIN No. 34-1907368
AERC BAY CLUB, INC.
By: /s/ Martin A. Fishman
Name: Martin A. Fishman
Title: Vice President
FEIN No. 34-1907377
AERC BEDFORD COMMONS, INC.
By: /s/ Martin A. Fishman
Name: Martin A. Fishman
Title: Vice President
FEIN No. 34-1907381
AERC STEEPLECHASE, LLC
By: AERC Shiloh Member, Inc.
Its Managing Member
By: /s/ Martin A. Fishman
Name: Martin A. Fishman
Title: Vice President
FEIN No. 34-1907442
AERC WESTCHESTER, INC.
By: /s/ Martin A. Fishman
Name: Martin A. Fishman
Title: Vice President
FEIN No. 34-1907374
ASPEN LAKES - AERC, INC.
By: /s/ Martin A. Fishman
Name: Martin A. Fishman
Title: Vice President
FEIN No. 34-1829742
AERC LANDINGS AT PRESERVE, LLC
By: AERC Landings, Inc.
Its Managing Member
By: /s/ Martin A. Fishman
Name: Martin A. Fishman
Title: Vice President
FEIN No. 34-1907440
AERC BENNELL, INC.
By: /s/ Martin A. Fishman
Name: Martin A. Fishman
Title: Vice President
FEIN No. 34-1907398
AERC LAKE FOREST, INC.
By: /s/ Martin A. Fishman
Name: Martin A. Fishman
Title: Vice President
FEIN No. 34-1907417
