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Document Preview Allonge to Note |
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Title: |
Allonge to Note |
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Entities: |
Cedar Income Fund Partnership, LP; Cedar Shopping Centers Inc.; Glimcher Loyal Plaza Tenant, LP; Lehman Brothers Bank; Loyal Plaza Associates, LP; Loyal Plaza Venture, LP |
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Date: |
2002 |
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Size: |
Preview shows 3KB of 8KB total |
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Price: |
$40 |
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ID: |
#254815 |
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ALLONGE TO NOTE
July 2, 2002
A. LASALLE BANK NATIONAL ASSOCIATION, as Trustee for the Registered
Holders of LB-UBS Commercial Mortgage Trust 2001-C3, Commercial Mortgage
Pass-Through Certificates, Series 2001-C3 ("Lender"), is the owner and holder of
that certain Note dated May 31, 2001 (the "Note"), evidencing a loan (the
"Loan") in the original principal amount of $14,000,000.00 made by Loyal Plaza
Venture, L.P. a Delaware limited partnership ("Original Borrower"), in favor of
Lehman Brothers Bank, FSB (the "Original Lender").
B. Pursuant to that certain Open-End Mortgage and Security Agreement of
even date with the Note, (the "Mortgage"), Original Borrower and Glimcher Loyal
Plaza Tenant, L.P. mortgaged, gave, granted, bargained, sold, aliened,
enfeoffed, conveyed, confirmed, pledged, assigned and hypothecated all of its
right, title and interest in, to and under the Mortgaged Property (as defined in
the Mortgage) for the purpose of securing (a) the Loan, including interest
thereon, and all modifications, extensions and renewals thereof, (b) the payment
and performance of all Debt (as defined in the Mortgage) by the Original
Borrower and all other obligations of Original Borrower under the Note, Mortgage
and the other Security Documents (as defined in the Mortgage) and (c) the
payment of any money advanced by the Original Lender, or its successors, under
the terms of the Note, Mortgage or other Security Documents or otherwise,
together with interest thereon.
C. Certain obligations regarding environmental remediation were
undertaken by Original Borrower, Glimcher Properties Limited Partnership and
Glimcher Loyal Plaza Tenant, L.P. ("Tenant" and, collectively with Glimcher
Properties Limited Partnership, the "Holdback Principal") under a Holdback and
Indemnity Agreement of even date with the Note (the "Holdback Agreement") and
certain obligations of the Original Borrower under the Note, Mortgage and other
Security Documents are guaranteed by Original Borrower and Tenant (in such
capacity, the "Environmental Principal" and together with the Holdback
Principal, the "Original Principal") (the Original Borrower, Tenant and Original
Principal are collectively referred to as the "Original Obligors") under an
Environmental Indemnity Agreement of even date with the Note (collectively with
the Holdback Agreement, the "Indemnity Agreements") (the Note, Mortgage, other
Security Documents, Indemnity Agreements and all other documents executed in
connection with the Loan are collectively referred to as the "Loan Documents").
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