201801534 - Laserfiche WebLink

Browse

FIRST AMENDMENT TO ASSIGNMENT OF LEASES AND RENTS WITNESSETH: 2 01801534 This FIRST AMENDMENT TO ASSIGNMENT OF LEASES AND RENTS (this "Agreement ") is made as of mate.h la , 2018, by and from KM GRAND ISLAND JOINT VENTURE, LLC, a Missouri limited liability company ( "Borrower "), having an address at 2127 Innerbelt Business Center Drive, Suite 310, St. Louis, Missouri 63114, to and for the benefit of SIMMONS BANK (f/k/a SIMMONS FIRST NATIONAL BANK), a national banking association ( "Lender "). WHEREAS, Lender extended certain financing to Borrower in the amount of Six Million Five Hundred Thousand and No /100 Dollars ($6,500,000.00) (the "Original Loan ") pursuant to the terms of a certain Construction Loan Agreement dated as of December 22, 2015, between Lender and Borrower (the "Loan Agreement "); WHEREAS, Borrower executed and delivered a certain promissory note to evidence the Loan for the sum of Six Million Five Hundred Thousand and No /100 Dollars ($6,500,000.00) dated as of December 22, 2015, payable to the order of Lender on December 21, 2020 (hereinafter referred to as the "Original Note "); and WHEREAS, the Original Note is secured by, among other things, a certain Assignment of Leases and Rents by Borrower dated as of December 22, 2015, and recorded as Instrument Number 201508664 in the Office of the Register of Deeds for Hall County, Nebraska which constitutes a lien on the real estate (the "Property ") described on Exhibit A, attached hereto and incorporated herein (hereinafter referred to as the "Assignment "); and WHEREAS, Borrower desires to borrow additional funds from Lender in an amount equal to One Million Two Hundred Five Thousand Eight Hundred Forty Eight and No /100 Dollars ($1,205,848.00) (the "Additional Loan ") pursuant to the terms of a certain Second Modification Agreement between Borrower and the Lender dated as of the date hereof; and WHEREAS, the Original Loan and the Additional Loan are hereinafter collectively referred to as the "Loan "); and WHEREAS, the Loan is evidenced by a certain Amended and Restated Promissory Note from the Borrower to the Lender in the principal amount of Seven Million Seven Hundred Five Thousand Eight Hundred Forty Eight and No /100 Dollars ($7,705,848.00) dated as of the date hereof (the "Note "); and WHEREAS, the obligations of Borrower pursuant to the terms of the Loan Agreement, the Note and all of the documents and instruments evidencing or securing the Loan (are hereinafter collectively referred to as the "Obligations "). WHEREAS, the Lender has agreed to advance the Additional Loan to the Borrower and Borrower and Lender desire to amend the Assignment to provide for the Additional Loan; 61840256.4