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202400619
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2/13/2024 11:35:21 AM
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2/13/2024 11:35:21 AM
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DEEDS
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202400619
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When Recorded Return To: <br />SBA Loan Name: Comfort Suites - Grand Isl, nd <br />SBA Loan Number: 3496967007 <br />202400619 <br />Limited Power of Attorney to Prepare & Execute Lien Release Instruments <br />NEBRASKA ECONOMIC DEVELOPMENT CORPORATION is a Certified Development <br />Company ("CDC"), certified by the United States Small Business Administration ("SBA") to <br />participate in the SBA loan program designed to help small businesses finance the purchase or <br />construction of a long-term fixed asset ("Asset") such as real estate, buildings, and equipment (the <br />"504 Program"). <br />In accordance with 504 Program rules, CDC used the proceeds of a debenture guaranteed by <br />SBA ("Debenture") to partially finance a borrower's purchase of an Asset (the "CDC loan") which is <br />secured by a lien on the Asset and other borrower property as deemed appropriate by the CDC (the <br />lien on the Asset and other borrower property is hereinafter referred to collectively as "Liens"). In <br />consideration of SBA's guaranty of the CDC Debenture, CDC, among other things, (1) assigned to <br />SBA the Liens and the note underlying the CDC loan and (2) agreed to continue to service the CDC <br />loan. <br />Borrower has paid the CDC loan in full as evidenced by a notice from Wells Fargo Bank. <br />SBA hereby authorizes CDC to, as either SBA's agent or attorney-in-fact, prepare, sign, file and or <br />record on SBA's behalf, without SBA's review and approval, documents necessary to release SBA's <br />lien interest in the Asset and any other borrower or guarantor property securing the repayment of this <br />loan upon which the agency has a lien or security interest. SBA hereby authorizes the CDC to stamp <br />the Note as "Paid in Full", if required by local law, rule or custom. <br />SBA, as principal, further authorizes CDC officers authorized to sign documents on behalf <br />of the CDC, as attorneys -in -fact, to sign and file and to record lien releases in connection with the <br />subject loan as well as make delivery to the party legally entitled thereto. CDC, not the Borrower, <br />shall record the release documents with the appropriate County Recorder's Office and pay the <br />recording fees. After the release documents have been recorded, CDC will then provide the Borrower <br />and SBA with a copy of the recorded release documents. <br />This authorization does not limit in any manner the duties, obligations, and responsibilities of <br />CDC to SBA and the authorization may be rescinded in writing at any time in the sole discretion of <br />SBA. <br />ADMINISTRATOR, UNITED STATES <br />SMALL BUSINESS ADMINISTRATION, <br />AN AGENCY OF THE UNITED STATES <br />By 12/07/2023 <br />(Date) <br />6994 John L. Gosset <br />Assistant Center Director <br />07-616 <br />
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