Allonge to Mortgage Note between G&E HC REIT II Shreveport SNF, LLC and Capital Funding, LLC
This agreement, dated January 10, 2012, is between G&E HC REIT II Shreveport SNF, LLC and Capital Funding, LLC. It amends a previous mortgage note originally signed by Red River Associates, L.P. by substituting G&E HC REIT II Shreveport SNF, LLC as the new borrower. The new borrower assumes all liabilities under the note from this date, and the original borrower is released from further obligations. All other terms of the original note remain unchanged.
ALLONGE TO MORTGAGE NOTE
(Shreveport)
This Allonge to Mortgage Note (“Allonge”) is made as of this 10th day of January, 2012, by and G&E HC REIT II Shreveport SNF, LLC, a Delaware limited liability company (“Borrower”) to Capital Funding, LLC (“Lender”).
WHEREAS, Red River Associates, L.P., a Georgia limited partnership (“Original Borrower”) signed a Mortgage Note dated July 1, 2010 (the “Note”) in the original principal amount of $11,120,400.00; and
WHEREAS, pursuant to an Assumption, Modification and Release Agreement dated of even date herewith (the “Assumption Agreement”), Borrower has assumed the Note from the Original Borrower and the Borrower desires to enter into this Allonge to reflect such assumption.
NOW, THEREFORE, for good and valuable consideration and intending to be legally bound hereby, the parties hereto agree as follows:
(1) The said Note is hereby amended to substitute the Borrower for the Original Borrower under the Note. Said Borrower shall assume all liability under the Note arising as of the date hereof and the Original Borrower shall be released from liability under the Note as provided in the Assumption Agreement.
(2) Except as expressly amended hereby, the Note shall remain unchanged and in full force and effect.
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IN WITNESS WHEREOF, this Allonge to Mortgage Note is made as of the day and year first written above.
G&E HC REIT II Shreveport SNF, LLC, a Delaware limited liability company
By: /s/ Danny Prosky
Name: Danny Prosky
Title: Authorized Signatory
