To: Attn: Telephone: Fax: cc: Telephone: Fax: From: NNN 901 Civic, LLC & NNN VF 901 Civic, LLC, jointly and severally c/o Grubb & Ellis Realty Investors, LLC 1551 N. Tustin Ave., Suite 200 Santa Ana CA 92705 United States LINH NGUYEN ###-###-#### ###-###-#### Courtney A Brower ###-###-#### extn ###-###-#### LaSalle Bank NA

EX-10.5 6 exhibit5.htm EX-10.5 EX-10.5

[Bank of America letterhead]

     
To:
Attn:
Telephone:
Fax:
cc:
Telephone:
Fax:
From:
  NNN 901 Civic, LLC & NNN VF 901 Civic, LLC, jointly and severally
c/o Grubb & Ellis Realty Investors, LLC
1551 N. Tustin Ave., Suite 200
Santa Ana
CA 92705 United States
LINH NGUYEN
714 ###-###-####
714 ###-###-####
Courtney A Brower
714 ###-###-#### extn 317
714 ###-###-####
LaSalle Bank NA

233 South Wacker Drive — Suite 2800 Chicago

         
 
   Illinois 60606
 
   U.S.A.
Department:
   Swaps Operations
Telephone:
   (+1) 312 ###-###-####
Fax:
     (+1) 866 ###-###-####  
Date:
   18th June 2008
Our Reference No:
   44626084 previously known as ###-###-####
Internal Tracking No:
     4626084  

Dear Sir/Madam,

The purpose of this letter agreement is to confirm the terms and conditions of the Transaction entered into between NNN 901 Civic, LLC & NNN VF 901 Civic, LLC, jointly and severally and LaSalle Bank NA (each a “party” and together “the parties”) on the Trade Date specified below (the “Transaction”). This letter agreement constitutes a “Confirmation” as referred to in the ISDA Master Agreement specified below (the “Agreement”).

The definitions and provisions contained in the 2006 ISDA Definitions, as published by the International Swaps and Derivatives Association, Inc., (the “Definitions”) are incorporated into this Confirmation. In the event of any inconsistency between the Definitions and this Confirmation, this Confirmation will govern.

This Confirmation supplements, forms part of, and is subject to, the ISDA Master Agreement dated as of 12th May 2006, as amended and supplemented from time to time, between the parties. All provisions contained in the Agreement govern this Confirmation except as expressly modified below.

In this Confirmation “Party A” means LaSalle Bank NA and “Party B” means NNN 901 Civic, LLC & NNN VF 901 Civic, LLC, jointly and severally.

     
General Terms:
 
The terms of the particular Transaction to which this Confirmation relates are as follows:
Notional Amount:
Trade Date:
Effective Date:
Termination Date:
  USD 9,837,000.00
16th June 2008
18th June 2008
12th May 2009
     
Fixed Amounts: Fixed Rate
Payer:
Fixed Rate Payer Payment Dates:
  Party B
The 1st of each Month, commencing on
1st July 2008 and ending on the
Termination Date, subject to
adjustment in accordance with the
Modified Following Business Day
Convention
     
Fixed Rate:
Fixed Rate Day
Count Fraction:
  3.33000 per cent

Actual/360

      Floating Amounts: Floating Rate Payer:

Party A

Floating Rate Payer Payment Dates:

The 1st of each Month, commencing on 1st July 2008 and ending on the Termination Date, subject to adjustment in accordance with the Modified Following Business Day Convention

     
Floating Rate for initial
Calculation Period:
Floating Rate Option:
Designated Maturity:
 
2.48125 per cent
USD—LIBOR—BB A
1 Month
     
Count Fraction; Actual/Reset
Dates:
  360
First day of each Calculation Period
     
Business Days:
Calculation Agent:
  London and New York
Party A

Recording of Conversations:

Each party to this Agreement acknowledges and agrees to the recording of conversations between trading and marketing personnel of the parties to this Agreement whether by one or other or both of the parties or their agents.

Account Details:

As advised under separate cover with reference to this Confirmation, each party shall provide appropriate payment instructions to the other party in writing and such instructions shall be deemed to be incorporated into this Confirmation.

     
Offices:
 
The Office of Party A for this
Transaction is:
The Office of Party B for this
Transaction is:
 
Chicago — IL, United States
Please send reset notices to fax no. (+1) 866 ###-###-####

Santa Ana — CA., United States

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Derivative Operations (fax no.(+1) 866 ###-###-####).

LaSalle Bank NA

Amanda Clarke Principal

Authorised Signatory

Accepted and confirmed as of the date first written: NNN 901 Civic, LLC & NNN VF 901 Civic, LLC, jointly and severally

By: Name:
Title:

     
Our Reference Number: Internal
Tracking No:
 
44626084 ###-###-####

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