Interim Interest. If any Issuing Bank shall make any LC Disbursement, then, unless the Company shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that the Company reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans (or in the case such LC Disbursement is denominated in a Foreign Currency, at the Overnight Rate for such Agreed Currency plus the then effective Applicable Rate with respect to EurocurrencyTerm Benchmark Revolving Loans) and such

Default Interest. Notwithstanding the foregoing, if any principal of or interest on any Loan or any fee or other amount payable by the Borrower hereunder is not paid when due, whether at stated maturity, upon acceleration, by mandatory prepayment or otherwise, such overdue amount shall bear interest, after as well as before judgment, at a rate per annum equal to # in the case of overdue principal of any Loan, 2% plus the rate otherwise applicable to such Loan as provided above, # in the case of overdue interest on any principal of any Loan, 2% plus the rate otherwise applicable to such principal as provided above and # in the case of any other amount, 2% plus the rate applicable to ABR Loans as provided in paragraph # of this Section.

Effective Date: , 20​ ​.

Interest Rates. The Lender does not warrant, nor accept responsibility, nor shall the Lender have any liability with respect to the administration, submission or any other matter related to the rates in the definition of “Alternative Currency Daily Rate”, “Alternative Currency Term Rate” or with respect to any rate (including, for the avoidance of doubt, the selection of such rate and any related spread or other adjustment) that is an alternative or replacement for or successor to any such rate or the effect of any of the foregoing, or of any Conforming Changes.

Interest Rates. The Lender does not warrant, nor accept responsibility, nor shall the Lender have any liability with respect to the administration, submission or any other matter related to the rates in the definition of “BSBY Rate”, “BSBY Daily Floating Rate” or with respect to any rate (including, for the avoidance of doubt, the selection of such rate and any related spread or other adjustment) that is an alternative or replacement for or successor to such rate or the effect of any of the foregoing, or of any Conforming Changes.

Interest Periods. After giving effect to all Credit Extensions, all conversions of Portions from one Type to the other, and all continuations of Portions as the same Type, there shall not be more than five (5) Interest Periods in effect with respect to Term SOFR Portions.

Minimum Interest. In all events and under all circumstances and notwithstanding anything to the contrary contained in this Agreement, but subject to [Section 2.2.4], in connection with each and every Minimum Interest Principal Paydown, ​ shall be obligated to pay to ​ the applicable Minimum Interest Payment Amount. In furtherance of the foregoing, ​ expressly acknowledges and agrees that # ​ shall have no obligation to accept any prepayment or repayment of the Loan unless and until ​ shall have complied with this [Section 2.4.4] and ​ has deposited with ​ all Interest Shortfall and Breakage Costs, as applicable in accordance with [Section 2.4.1], # ​ shall have no obligation to release or, if requested by ​, assign the Note and Mortgage upon payment of the Debt unless and until ​ shall have received each and every Minimum Interest Payment Amount due under this [Section 2.4.4], together with all Interest Shortfall and Breakage Costs, as applicable in accordance with [Section 2.4.1], and # each and every prepayment of the Debt is subject to the terms of this Loan Agreement and nothing in this [Section 2.4.4] gives ​ any right to prepay any portion of the Debt. In the event that any Minimum Interest Payment Amount is due hereunder, ​ shall deliver to ​ a statement setting forth the amount and determination of the Minimum Interest Payment Amount. ​’s computation of the Minimum Interest Payment Amount shall be conclusive and binding on ​ for all purposes, absent manifest error, and ​’s calculation may be made by ​ on any day during the fifteen (15) day period preceding the date of such prepayment. ​ shall not be obligated or required to have actually reinvested the prepaid principal balance at the Benchmark or otherwise as a condition to receiving the Minimum Interest Payment Amount. ​ expressly acknowledges and agrees that the Minimum Interest Payment Amount shall constitute # additional consideration for the Loan and # a portion of the Debt, and shall, upon payment, be the sole and exclusive property of ​. Notwithstanding the foregoing or anything else herein to the contrary, payment of the Minimum Interest Payment shall be waived in connection with # prior to Completion, prepayment in full of the Loan in connection with a bona fide “arms-length” sale of the Property to a third party, which shall be no sooner than fifteen (15) days prior to the receipt by the ​ of all temporary certificates of occupancy for the Project and the Property required under applicable Legal Requirements and # after the Project is Complete, prepayment in full of the Loan.

Interest Advance. A portion of the Loan specified in the Project Budget (the “Interest Advance”) has been reserved for payments of interest as it accrues and becomes due and payable on the Loan. The Interest Advance shall not be disbursed for any purpose other than the payment of interest on the Loan unless otherwise agreed to by ​ in its sole and absolute discretion. Subject to the provisions of [Section 2.20(b)], ​ shall advance portions of the Interest Advance directly to itself to satisfy obligations for the payment of interest under the Note from time to time as the same become due and payable.

Effective Date: ​, 20​ [TO BE INSERTED BY AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.]

Security Interest. The Borrower has granted a security interest (as defined in the UCC) to the Administrative Agent, on behalf of the Secured Parties, in the Collateral, which is enforceable in accordance with Applicable Law upon execution and delivery of this Agreement. Upon the filing of UCC-1 financing statements naming the Administrative Agent, as secured party and the Borrower as debtor, delivery of possessory Collateral to the Administrative Agent (or its designee), and execution and delivery of the Account Control Agreement, the Administrative Agent, on behalf of the Secured Parties, shall have a first priority (except for any Permitted Liens) perfected security interest in the Collateral to the extent such an interest can be perfected by filing a financing statement under the UCC, maintaining such possession or execution and delivery of the Account Control Agreement. All filings (including such UCC filings) as are necessary in any jurisdiction to perfect such security interest of the Administrative Agent, on behalf of the Secured Parties, in the Collateral have been (or prior to the applicable Loan will be) made.