EXHIBIT 10.13.1
PROMISSORY NOTE
(STATE FARM LOAN NO. 13551)
$21,000,000.00 NOVEMBER 6, 2001
WEST PALM BEACH, FLORIDA
FOR VALUE RECEIVED, the undersigned, ROBERTS PROPERTIES RESIDENTIAL, L.P., a Georgia
limited partnership, ("Maker") promises to pay to the order of STATE FARM LIFE INSURANCE
COMPANY, an Illinois corporation, its successors or assigns ("State Farm") the principal sum of TWENTY-
ONE MILLION AND 00/100 DOLLARS ($21,000,000.00) ("Principal"), together with interest ("Interest") on
the unpaid Principal balance outstanding from the date hereof until paid at the rate of Six and Ninety-Five One
Hundredths percent (6.95%) per annum ("Note Rate"). Interest shall be computed on the basis of a three
hundred sixty (360) day year having twelve (12), thirty (30) day months. Principal and Interest accrued thereon,
together with all other sums which may be at any time due, owing or required to be paid by the terms of the
Mortgage (hereinafter defined) and other Loan Documents (as defined in the Mortgage) are hereinafter
collectively called the "Indebtedness".
I. PAYMENTS.
A. On the date of this Promissory Note, Maker shall pay interest only from the date of disbursement to and
including November 30, 2001. Thereafter, commencing on January 1, 2002 and continuing on the first (1st) day
of each succeeding month thereafter ("Regular Payment Date") to and including November 1, 2011, Principal and
Interest thereon at the Note Rate shall be paid in fixed monthly installments of One Hundred Thirty-Nine
Thousand Nine and 00/100 DOLLARS ($139,009.00) each ("Monthly Payment"). A final payment of all
outstanding Principal and accrued and unpaid Interest thereon shall be due and payable on December 1, 2011
("Maturity Date").
B. All required payments are to be made to State Farm at One State Farm Plaza, Bloomington, Illinois 61710,
Attention: Investment Accounting, D-3, or at any other place State Farm shall designate in writing.
C. All Obligations (as defined in the Mortgage) are payable in lawf