Allonge to Security Deed Note between G&E HC REIT II Gainesville SNF, LLC and Capital Funding, LLC
This agreement documents the transfer of responsibility for a $7,254,700 loan from San Alejandro Associates, L.P. to G&E HC REIT II Gainesville SNF, LLC. The new borrower assumes all obligations under the original note as of January 10, 2012, and the original borrower is released from liability. All other terms of the original note remain unchanged.
ALLONGE TO SECURITY DEED NOTE
(Bell Minor)
This Allonge to Security Deed Note (“Allonge”) is made as of this 10th day of January, 2012, by and G&E HC REIT II Gainesville SNF, LLC, a Delaware limited liability company (“Borrower”) to Capital Funding, LLC (“Lender”).
WHEREAS, San Alejandro 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 $7,254,700.00; 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 Security Deed Note is made as of the day and year first written above.
G&E HC REIT II Gainesville SNF, LLC, a Delaware limited liability company
By: /s/ Danny Prosky
Name: Danny Prosky
Title: Authorized Signatory
