Exhibit 10.7
CONFIRMATION OF ENVIRONMENTAL
COMPLIANCE AND INDEMNIFICATION AGREEMENT
CONFIRMATION
OF ENVIRONMENTAL COMPLIANCE AND INDEMNIFICATION AGREEMENT (as the
same may be amended or otherwise modified from time to time, the
“ Confirmation ”) made and entered into as of
the 9 th day of August, 2005 between CORPORATE REALTY
INCOME FUND I, L.P., a Delaware limited partnership, having an
office at 475 Fifth Avenue, New York, New York 10017 (“
Indemnitor ”) and BANK OF AMERICA, N.A., successor by
merger to Fleet National Bank, a national banking association
organized and existing under the laws of the United States of
America, having an office at 1185 Avenue of the Americas, New York,
New York 10036, in its capacity as agent and as a lender (“
Bank ”).
W I T N E S S E T H:
WHEREAS,
Bank made a loan to Indemnitor in the original principal amount of
$24,000,000 (the “ Loan ”);
WHEREAS,
the Loan is evidenced by that certain Secured Promissory Note dated
September 26, 1996 (as amended by a First Amendment of Loan
Agreement and Note dated as of December 6, 1996, a Third Amendment
of Loan Agreement and Second Amendment of Note dated as of
September 25, 1998, and an Amended and Restated Secured Promissory
Note dated October 12, 2000 and as the same may further be amended
or otherwise modified from time to time, the “ Note
”), and secured by one or more mortgages (or deeds of trust)
and assignments of rents (as amended prior to the date hereof and
as the same may further be amended or otherwise modified from time
to time, collectively, the “ Mortgage
”);
WHEREAS,
Indemnitor and Bank are simultaneously herewith modifying the terms
and provisions of the Note and of the Mortgage;
WHEREAS,
in connection with the initial execution and delivery of the Note
and the Mortgage, Indemnitor executed and delivered to Bank that
certain Environmental Compliance and Indemnification Agreement
dated as of Septem
