Allonge to Security Deed Note between G&E HC REIT II Covington SNF, LLC and Capital Funding, LLC
This agreement, dated January 10, 2012, is between G&E HC REIT II Covington SNF, LLC (the new borrower) and Capital Funding, LLC (the lender). It amends a previous Security Deed Note originally signed by West Street Associates, L.P., by substituting the new borrower in place of the original borrower. The new borrower assumes all obligations under the note from this date, and the original borrower is released from liability. All other terms of the original note remain unchanged.
ALLONGE TO SECURITY DEED NOTE
(Riverside)
This Allonge to Security Deed Note (“Allonge”) is made as of this 10th day of January, 2012, by and G&E HC REIT II Covington SNF, LLC, a Delaware limited liability company (“Borrower”) to Capital Funding, LLC (“Lender”).
WHEREAS, West Street Associates, L.P., a Georgia limited partnership (“Original Borrower”) signed a Security Deed Note dated July 1, 2010 (the “Note”) in the original principal amount of $11,617,300.00; 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.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
IN WITNESS WHEREOF, this Allonge to Security Deed Note is made as of the day and year first written above.
G&E HC REIT II Covington SNF, LLC, a Delaware limited liability company
By: /s/ Danny Prosky
Name: Danny Prosky
Title: Authorized Signatory
