RELEASE OF GUARANTY
WHEREAS, the undersigned Xxxx Xxxxxx, also known as Xxxx X. Xxxxxx,
(herein, the "Guarantor"), is the guarantor under that certain Guaranty dated
July 2, 1991 (the "Guaranty") guarantying certain obligations of Goldmark, Inc.,
as lessee, (the "Lessee") arising under that certain Building Lease dated July
2, 1991, amended pursuant to First Amendment of Lease dated June 25, 1992, said
Building Lease as amended being hereinafter referred to as the "Lease" between
Lessee and SuperValu Stores, Inc., a Delaware corporation, now known as
SuperValu Inc., ("SuperValu") whereby SuperValu leased to Lessee certain
premises located at 0000 Xxxx 00xx Xxxxxx, Xxxxxx Xxxxxx, Xxxxxxxxxxxx, Xxxxxxx,
(the "Premises"), and
WHEREAS, SuperValu has sold and conveyed the Premises to Royale
Investments, Inc., a Minnesota corporation, (hereinafter referred to as
"Royale"), and assigned all of its right, title and interest in and to the Lease
and Guaranty to Royale, and
WHEREAS, American United Life Insurance Company ("AUL") made a loan to
Royale as evidenced by a Promissory Note from Royale to AUL which note is
secured by a mortgage on the Premises described in the Lease, and
WHEREAS, Royale, Guarantor, and Xxxxxx have agreed that Guarantor shall be
released from the Guaranty.
NOW, THEREFORE, in consideration of $10.00 and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the
parties hereto do agree that the Guaranty is hereby terminated from and after
the date hereof and the Guarantor is released from any and all liabilities or
obligations contained in said Guaranty from and after the date hereof and the
Guaranty shall be deemed null and void and of no further force or effect from
and after the date hereof.
GUARANTOR:
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Xxxx X. Xxxxxx aka Xxxx Xxxxxx
STATE OF MINNESOTA )
)ss.
COUNTY OF HENNEPIN )
The foregoing instrument was acknowledged before me this ___ day of
___________, 1996 by Xxxx X. Xxxxxx a/k/a Xxxx Xxxxxx.
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Notary Public
ROYALE INVESTMENTS, INC.,
a Minnesota corporation
By:
---------------------------
Its:
-------------------------
STATE OF MINNESOTA )
)ss.
COUNTY OF HENNEPIN )
The foregoing instrument was acknowledged before me this ___ day of
_____________, 1996 by _________________________ the ______________________ of
Royale Investments, Inc., a Minnesota corporation, on behalf of the corporation.
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Notary Public
GOLDMARK, INC.,
an Indiana corporation
By:
--------------------------------
Its:
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STATE OF INDIANA )
)ss.
COUNTY OF XXXXXX )
The foregoing instrument was acknowledged before me this ___ day of
____________, 1996 by _______________________ the _______________________ of
Goldmark, Inc., an Indiana corporation, on behalf of the corporation.
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Notary Public
Release
CONSENT OF AMERICAN UNITED LIFE INSURANCE COMPANY
WHEREAS, American United Life Insurance Company ("AUL") is the mortgagee of
record with respect to an Indenture of Mortgage and Security Agreement with
Assignment of Rents dated June 1, 1992, and recorded June 26, 1992, as
Instrument No. 92-83880 in the office of the Xxxxxx County Recorder, Indiana,
(the "Mortgage"), which mortgage was executed by Royale Investments, Inc., a
Minnesota corporation, as mortgagor; and
WHEREAS, XXX has further entered into a Subordination, Non-Disturbance and
Attornment Agreement dated June 25, 1992, (the "Subordination Agreement"),
recorded June 26, 1992, as Instrument No. 92-83882, with Goldmark, Inc., as the
tenant, of the property which is the subject of the Mortgage and Subordination
Agreement; and
WHEREAS, AUL is also the assignee pursuant to an Assignment of Rents,
Leases and Agreements dated June 1, 1992, and recorded June 26, 1992, as
Instrument No. 92-83881 in the office of the Xxxxxx County Recorder, wherein
Royale Investments, Inc., was the assignor, (hereinafter referred to as the
"Assignment").
NOW, THEREFORE, for $10.00 and other good and valuable consideration,
receipt of which is hereby acknowledged, AUL does hereby consent to and approve
the release of Xxxx X. Xxxxxx from the terms and conditions of the guaranty
pursuant to the attached Release of Guaranty provided further that Wigest
Corporation's interest shall be and remains subject to the terms and conditions
of the Mortgage, the Subordination Agreement, and the Assignment of Rents and
other related collateral mortgage documents.
IN WITNESS WHEREOF this consent has been executed this ___ of ____________,
1996.
AMERICAN UNITED LIFE INSURANCE
COMPANY, an Indiana corporation
By:
--------------------------------
Its:
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STATE OF INDIANA )
)ss.
COUNTY OF )
The foregoing instrument was acknowledged before me this ___ day of
____________, 1996, by _______________________ the ______________________ of
American United Life Insurance Company, an Indiana corporation, on behalf of the
corporation.
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Notary Public
Release
CONSENT OF SUPERVALU INC.
WHEREAS, SUPERVALU INC., a Delaware corporation, ("SUPERVALU") was formerly
known as Super Valu Stores, Inc.; and
WHEREAS, SUPERVALU entered into a certain Companion Lease with Royale
Investments, Inc. as lessor and SUPERVALU as lessee, a Memorandum of said Lease
being dated June 25, 1992 was recorded June 26, 1992, as Instrument No. 92-83879
in the office of the Xxxxxx County Recorder, Indiana, the leased premises
referred to in said SUPERVALU lease being the same premises which are the
subject of the Lease described in the attached Release of Guaranty and the
Indenture of Mortgage and Security Agreement with Assignment of Rents recorded
as Instrument No. 92-83880 in favor of American United Life Insurance Company,
as mortgagee, recorded in the office of the Xxxxxx County Recorder; and
WHEREAS, SUPERVALU entered into a certain Guaranty Agreement dated June 25,
1992, by and between SUPERVALU and Royale Investments, Inc., wherein SUPERVALU
guaranteed certain terms and conditions of the Lease identified in the attached
Release of Guaranty.
NOW, THEREFORE, for $10.00 and other good and valuable consideration,
receipt of which is hereby acknowledged, the undersigned SUPERVALU does hereby
consent to and approve the release of Xxxx X. Xxxxxx from the terms and
conditions of the guaranty pursuant to the attached Release of Guaranty. All
terms and conditions of the SUPERVALU Guaranty dated June 25, 1992, remain in
full force and effect undisturbed by said Release of Guaranty releasing Xxxx X.
Xxxxxx, including the June 25, 2002, expiration date of said SUPERVALU Guaranty.
IN WITNESS WHEREOF this consent has been executed this ___ of ____________,
1996.
SUPERVALU INC., a Delaware corporation
By:
-------------------------------
Its:
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STATE OF MINNESOTA )
)ss.
COUNTY OF HENNEPIN )
The foregoing instrument was acknowledged before me this ___ day of
____________, 1996 by ________________________ the ________________________ of
SUPERVALU INC., a Delaware corporation, on behalf of the corporation.
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Notary Public
