Indemnity and Guaranty Agreements between Cornerstone Realty Income Trust, Inc. and First Union National Bank (March 23, 2001)

Contract Categories: Business Finance › Guaranty Agreements
Summary

Cornerstone Realty Income Trust, Inc. entered into six substantially identical Indemnity and Guaranty Agreements with First Union National Bank on March 23, 2001. Under these agreements, Cornerstone acts as indemnitor, guaranteeing certain obligations of various property borrowers related to apartment properties in Virginia, North Carolina, and Texas. The agreements specify the principal loan amounts for each property. The main obligation is for Cornerstone to indemnify and guarantee the borrowers' commitments to the lender.

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EX-4.10 11 0011.txt EXHIBIT 4.10 EXHIBIT 4.10 SCHEDULE Information on six substantially identical Indemnity and Guaranty Agreements dated as of March 23, 2001 by Cornerstone Realty Income Trust, Inc. as Indemnitor in favor of First Union National Bank as Lender (Six additional documents are identical, except as set forth below, to the document included as Exhibit 4.2)
Principal Apartment Property Borrower Amount - ------------------ -------- ------ Harbour Club Apartments CRIT-VA II, Inc. 8,475,000 Virginia Beach, Virginia Highland Hills Apartments CRIT-NC III, LLC 14,775,000 Carrboro, North Carolina Canyon Hills CAC II Limited Partnership 12,675,000 Austin, Texas Park Village CAC II Limited Partnership 8,500,000 Bedford, Texas Summertree CAC II Limited Partnership 7,750,000 Dallas, Texas The Courts on Pear Ridge CAC II Limited Partnership 10,575,000 Dallas, Texas