Real Estate Bridge Document

REAL ESTATE BRIDGE DOCUMENT

Parties

This Real Estate Bridge Document (the "Agreement") is entered into by and between Lender: , with mailing address

and Borrower: , with mailing address

Property Identification

Recitals

WHEREAS, Borrower desires short-term bridge financing to facilitate the acquisition, refinance or repositioning of the Property described above; and WHEREAS, Lender is willing to make such bridge loan subject to the terms and conditions set forth herein; now, therefore, in consideration of the mutual covenants and promises contained herein, the parties agree as follows.

Loan Terms

Maturity Date: . Borrower shall repay all outstanding principal, accrued and unpaid interest, and all other sums due under this Agreement on or before the Maturity Date. Interest shall accrue from the Funding Date until paid in full.

Payment Schedule: . Late fee for any payment not received within days is .

Security and Collateral

Borrower hereby grants to Lender a first priority lien and security interest against the Property by way of a Deed of Trust/Mortgage, together with assignment of rents, leases and profits, and all improvements, fixtures and proceeds. At or prior to funding, Borrower shall execute and deliver all instruments necessary to perfect Lender's security interest, including without limitation a deed of trust or mortgage and assignment of rents.

Conditions to Funding

Lender's obligation to fund is conditioned upon: (a) Borrower's delivery of the executed loan documents and instruments of security; (b) evidence of title acceptable to Lender, free of liens other than permitted exceptions; (c) completion of any required inspections; (d) proof of insurance meeting Lender's requirements; and (e) receipt of any funds or reserves required under this Agreement.

Representations, Warranties and Covenants

Borrower represents and warrants that: it has full power and authority to execute this Agreement; the Property is not subject to material environmental violations to Borrower's knowledge; there are no undisclosed leases or agreements affecting the Property except as disclosed to Lender in writing. Borrower covenants to maintain the Property in good repair, pay all taxes and assessments when due, and not materially alter the Property without Lender's prior written consent.

Insurance, Taxes and Maintenance

Borrower shall maintain commercial general liability and property insurance covering the Property with Lender named as loss payee and mortgagee as applicable. Borrower shall timely pay all real property taxes and assessments. Lender may require evidence of insurance prior to funding and at reasonable intervals thereafter.

Environmental and Property Condition Disclosures

Lead-based paint present? Yes No

Known mold or moisture intrusion? Yes No

Prior material structural damage or repairs? Yes No

Default; Remedies

Events of Default include failure to pay principal or interest when due, breach of any representation or covenant, initiation of bankruptcy or insolvency proceedings by or against Borrower, or the filing of any lien on the Property other than permitted liens. Upon Event of Default, Lender may declare all amounts immediately due and payable, pursue foreclosure, exercise remedies under the security instruments, and recover costs and attorneys' fees.

Borrower shall have a cure period of days after written notice, except where applicable law provides otherwise.

Governing Law; Miscellaneous

This Agreement shall be governed by and construed in accordance with the laws of the state where the Property is located. This Agreement, together with the loan documents executed contemporaneously herewith, constitutes the entire agreement between the parties and supersedes all prior negotiations and agreements. Any amendment must be in writing and signed by both parties. If any provision is held invalid, the remainder shall remain in full force and effect.

In the event of litigation arising hereunder, the prevailing party shall be entitled to recover reasonable attorneys' fees and costs.

Notices

Additional Provisions

Assignment: Lender may assign its rights and obligations hereunder without the prior consent of Borrower. Borrower may not assign its obligations without Lender's prior written consent. All payments under this Agreement shall be made to Lender at the notice address unless otherwise directed in writing.

Acknowledgment and Certification

Each party represents and certifies that the person executing this Agreement on its behalf is duly authorized to do so, that all information provided in connection with this transaction is true and complete to the party's knowledge, and that the party has had the opportunity to obtain independent legal advice prior to executing this Agreement.

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