|
|
|
|
Document Preview Consolidated Mortgage [Amended and Restated] |
||||
|
|
||||
|
Click "Add to Cart" button to purchase document. |
||||
|
|
||||
|
Title: |
Consolidated Mortgage [Amended and Restated] |
|||
|
Entities: |
||||
|
Date: |
2000 |
|||
|
Size: |
Preview shows 17KB of 140KB total |
|||
|
Price: |
$50 |
|||
|
ID: |
#265517 |
|||
|
|
||||
|
||||
|
|
||||
|
Start of Preview |
||||
AMENDED, RESTATED AND CONSOLIDATED MORTGAGE
BY AND BETWEEN
RAMCO-GERSHENSON PROPERTIES, L.P., MORTGAGOR,
AND
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY, MORTGAGEE
THIS MORTGAGE SECURES FUTURE ADVANCES
{PAGE} 2
TABLE OF CONTENTS
{TABLE}
{CAPTION}
Page #
------
{S} {C}
ARTICLE I
THE OBLIGATIONS............................................. 3
Section 1.01. The Indebtedness Secured by this Mortgage....................................................... 3
Section 1.02. Other Matters Secured by this Mortgage.......................................................... 3
Section 1.03. First Lien Status............................................................................... 3
ARTICLE II
REPRESENTATIONS, COVENANTS, WARRANTIES AND AGREEMENTS OF MORTGAGOR.................... 3
Section 2.01. Title........................................................................................... 3
Section 2.02. Payment of Secured Indebtedness................................................................. 4
Section 2.03. Sale or Conveyance.............................................................................. 4
Section 2.04. Junior Mortgages................................................................................ 5
Section 2.05. Compliance with Laws............................................................................ 5
Section 2.06. Further Instruments............................................................................. 5
Section 2.07. No Liens........................................................................................ 6
ARTICLE III
LEASES AND ASSIGNMENT OF RENTS AND PROFITS................................ 6
Section 3.01. Assignment of Rents and Profits................................................................. 6
Section 3.02. Covenants Regarding Performance of Lessor's Obligations......................................... 6
Section 3.03. Negative Covenants Regarding Lease(s)........................................................... 6
Section 3.04. Breaches Regarding Lease(s) or Assignments(s) Thereof........................................... 6
Section 3.05. Oil, Gas or Mineral Leases...................................................................... 6
Section 3.06. Estoppel Certificates........................................................................... 6
Section 3.07. Future Leases................................................................................... 6
Section 3.08. Application of Rents and Other Income........................................................... 7
Section 3.09. Priority of Application......................................................................... 7
Section 3.10. Accountability for Rents........................................................................ 7
Section 3.11. Liability for Agents............................................................................ 7
Section 3.12. Liability for Premises.......................................................................... 7
Section 3.13. Status of Lease(s)/Notice of Default............................................................ 7
Section 3.14. Mortgagee's Right to Perform for Mortgagor/Lessor............................................... 7
Section 3.15. Subleases Included.............................................................................. 8
Section 3.16. Assignment...................................................................................... 8
ARTICLE IV
DEFAULTS AND REMEDIES.......................................... 8
Section 4.01. Events of Default............................................................................... 8
Section 4.02. Remedies........................................................................................ 9
Section 4.03. Secured Party Remedies..........................................................................10
Section 4.04. Receiver........................................................................................10
Section 4.05. Retention of Possession.........................................................................11
Section 4.06. Remedies Not Exclusive..........................................................................11
Section 4.07. Forbearance, etc. Not a Waiver..................................................................11
Section 4.08. Additional Amount Due After Acceleration........................................................11
ARTICLE V
SECURITY AGREEMENT............................................11
Section 5.01. Personal Property to be Covered as Part of Real Property; Fixtures; Mortgage to also
Constitute Security Agreement as to Personal Property Deemed Not to be Affixed to
Real Property or Adapted to the Use Thereof................................................11
Section 5.02. Creation of Security Interest...................................................................11
Section 5.03. Warranties, Representations and Covenants.......................................................11
ARTICLE VI
MISCELLANEOUS..............................................12
Section 6.01. Certain Additional Powers of Mortgagee; Sale No Effect on Liability.............................12
Section 6.02. Mortgagor's Duty to Defend and Pay Expenses.....................................................12
Section 6.03. Documentary or Internal Revenue Stamps..........................................................13
Section 6.04. Tax on Mortgage.................................................................................13
Section 6.05. Filing and Recording Fees.......................................................................13
Section 6.06. Notices.........................................................................................13
{/TABLE}
i
{PAGE} 3
{TABLE}
{S} {C}
Section 6.07. Waiver of Rights by Mortgagor...................................................................13
Section 6.08. Joint and Several Liability.....................................................................14
Section 6.09. Severability....................................................................................14
Section 6.10. Covenants "To Run With Land"; Successors and Assigns............................................14
Section 6.11. Definitions.....................................................................................14
Section 6.12. Governing Law...................................................................................14
Section 6.13. Modification Procedure..........................................................................14
Section 6.14. Captions........................................................................................14
Section 6.15. Future Advance Mortgage.........................................................................14
Section 6.16. Jurisdiction....................................................................................14
Section 6.17. Waiver of Trial by Jury.........................................................................14
Section 6.18. Additional Provisions...........................................................................14
{/TABLE}
ii
{PAGE} 4
AMENDED, RESTATED AND CONSOLIDATED MORTGAGE
LOAN NOS. 157670, 157670-01, 158186 AND 158186-01
THIS AMENDED, RESTATED AND CONSOLIDATED MORTGAGE (hereinafter the
"Mortgage"), is made the ______ day of August, 2000, by RAMCO-GERSHENSON
PROPERTIES, L.P., a Delaware limited partnership ("Mortgagor"), whose address is
27600 Northwestern Highway, Suite 200, Southfield, Michigan 48034, in favor of
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY, an Indiana corporation ("Lincoln"),
Individually, and as Agent for FIRST PENN-PACIFIC LIFE INSURANCE COMPANY, an
Indiana corporation ("Participant #1"), LINCOLN NATIONAL HEALTH & CASUALTY
INSURANCE COMPANY, an Indiana corporation ("Participant #2), and LINCOLN
NATIONAL REASSURANCE COMPANY, an Indiana corporation ("Participant #3")
(Participant #1, Participant #2 and Participant #3 are collectively referred to
herein as the "Participants"), whose notice address is c/o Lincoln Investment
Management, Inc., 200 East Berry Street, P.O. Box 2390, Fort Wayne, Indiana
46802, Attention: Loan Servicing, Loan Nos. 157670 and 158186 (Lincoln,
Individually and in its capacity as Agent for the Participants, is collectively
referred to herein as the "Mortgagee").
WITNESSETH, to secure the payment of an indebtedness in the original
principal sum of One Hundred Fifteen Million Four Hundred Thirty-Two Thousand
Three Hundred Three and 49/100 Dollars ($115,432,303.49), in lawful money of the
United States, together with interest at the rate of Seven and 17/100 percent
(7.17%) per annum on the Original Loan No. 158186 Note (as defined below), Seven
and 77/100 percent (7.77%) per annum on the Original Loan No. 157774 Note (as
defined below), Eight and 28/100 percent (8.28%) per annum on the Original Loan
No. 157670 Note (as defined below), and Eight and 81/100 percent (8.81%) per
annum on the New Notes (as defined below), from the date of disbursement thereof
on the unpaid principal, the final payments of which are due and payable on the
10th day of January, 2006, and with interest on all overdue principal and other
sums due under such Notes at the default rate provided for in such Notes, to be
paid in installments, according to the terms and conditions of (a) that certain
Note dated May 1, 1996 in the original principal amount of $77,585,524.73
executed by Mortgagor and payable to the order of Lincoln (the "Original Loan
No. 157670 Note"), (b) that certain Note dated May 1, 1996 in the original
principal amount of $4,346,778.76 executed by Mortgagor and payable to the order
of Lincoln (the "Original Loan No. 157774 Note"), (c) that certain Note dated
December 17, 1997 in the original principal amount of $8,500,000.00 executed by
Mortgagor and payable to the order of Lincoln (the "Original Loan No. 158186
Note"), (d) that certain Note of even date herewith in the original principal
amount of $16,081,090.00 executed by Mortgagor and payable to the order of
Lincoln, (e) that certain Note of even date herewith in the original principal
amount of $2,386,270.00 executed by Mortgagor and payable to the order of
Lincoln, (f) that certain Note of even date herewith in the original principal
amount of $1,279,412.00 executed by Mortgagor and payable to the order of
Lincoln (the Notes described in (a) through (f) of this Paragraph are
collectively referred to herein as the "Retainage Notes"), (g) that certain Note
of even date herewith in the original principal amount of $2,455,128.00 executed
by Mortgagor and payable to the order of Participant #1, (h) that certain Note
in the original principal amount of $245,513.00 executed by Mortgagor and
payable to the order of Participant #2, (i) that certain Note of even date
herewith in the original principal amount of $368,269.00 executed by Mortgagor
and payable to the order of Participant #3, (j) that certain Note of even date
herewith in the original principal amount of $2,013,730.00 executed by Mortgagor
and payable to the order of Participant #1, and (k) that certain Note of even
date herewith in the original principal amount of $170,588.00 executed by
Mortgagor and payable to the order of Participant #2 (the note(s) described in
this Paragraph and any notes issued in exchange therefor or in replacement
thereof and any modifications, extensions, and renewals thereof, are herein
collectively called the "Note" (the Notes described in (a), (d), (g), (h) and
(i) above are collectively referred to herein as the "Loan No. 157670 Notes",
the Notes described in (c), (f) and (k) above are collectively referred to
herein as the "Loan No. 158186 Notes", and the Notes described in (b), (e) and
(j) above are collectively referred to herein as the "Loan No. 157774 Notes"),
and to secure the performance of the covenants hereinafter contained or
contained in the Note, the Loan Agreements (as hereinafter defined) and the
Collateral Loan Documents (as hereinafter defined), Mortgagor does hereby grant,
bargain, sell, convey, assign, transfer, pledge, deliver, set over, grant a
security interest in, mortgage and warrant unto Mortgagee and to its successors
and assigns:
1. (i) All of that certain piece or lot of land, and all issues and
profits therefrom situated in the (a) Township of Blackman, Jackson County,
Michigan, described on EXHIBIT A-1 ATTACHED HERETO AND MADE A PART HEREOF BY
THIS REFERENCE, (b) Township of Canton, Wayne County, Michigan, described on
EXHIBIT A-2 ATTACHED HERETO AND MADE A PART HEREOF BY THIS REFERENCE, (c)
Township of Blackman, Jackson County, Michigan, described on EXHIBIT A-3
ATTACHED HERETO AND MADE A PART HEREOF BY THIS REFERENCE, (d) Township of
Blackman, Jackson County, Michigan, described on EXHIBIT A-4 ATTACHED HERETO AND
MADE A PART HEREOF BY THIS REFERENCE, (e) City of Sterling Heights, Macomb
County, Michigan, described on EXHIBIT A-5 ATTACHED HERETO AND MADE A PART
HEREOF BY THIS REFERENCE, (f) City of Roseville, Macomb County, Michigan,
described on EXHIBIT A-6 ATTACHED HERETO AND MADE A PART HEREOF BY THIS
REFERENCE, (g) City of Flint, Genessee County, Michigan, described on EXHIBIT
A-7 ATTACHED HERETO AND MADE A PART HEREOF BY THIS REFERENCE, (h) City of
Southfield, Oakland County, Michigan, described on EXHIBIT A-8 ATTACHED HERETO
AND MADE A PART HEREOF BY THIS REFERENCE, (i) City of Southfield, Oakland
County, Michigan, described on EXHIBIT A-9 ATTACHED HERETO AND MADE A PART
HEREOF BY THIS REFERENCE, and (j) Township of Orion, Oakland County, Michigan,
described on EXHIBIT A-10 ATTACHED HERETO AND MADE A PART HEREOF BY THIS
REFERENCE, and (ii) the leasehold interest in that certain piece or lot of land,
and all issues and profits therefrom situated in the Township of Orion, Oakland
County, Michigan, described on EXHIBIT A-11 ATTACHED HERETO AND MADE A PART
HEREOF BY THIS REFERENCE, created pursuant to the terms and conditions of that
|
End of Preview |
Home Intelligence Services Subscriptions News About Us