AMENDMENT TO DEED OF TRUST AND ASSIGNMENT OF DEED OF TRUST
Exhibit 10.30
AND
ASSIGNMENT OF DEED OF TRUST
THIS AMENDMENT TO DEED OF TRUST AND ASSIGNMENT OF DEED OF TRUST (this “Amendment”) is made as of the 10th day of January, 2005, by Wise Recycling West, LLC, a Delaware limited liability company (“Grantor”) to the Xxxxx County Public Trustee (“Public Trustee”) for the benefit of TOMRA of North America Finance Corporation (“Original Lender”) and GAB Holding LLC (“New Lender”).
Recitals
This Amendment is made with respect to the following facts:
A. Grantor executed a Deed of Trust (“Deed of Trust”) dated December 6, 2002, recorded in Xxxxx County, Colorado on December 23, 2002 at Reception No. C1070929 to the Public Trustee for the benefit of Original Lender to secure that Promissory Note (the “Promissory Note”) dated December 6, 2002 in the principal amount of $720,000.00 from Grantor to Original Lender. The Deed of Trust encumbers the real property described in Section 1 of the Deed of Trust (the “Property”).
B. Original Lender and New Lender agreed to extend the maturity date of the Promissory Note to January 1, 2006 and Grantor, Original Lender and New Lender wish to amend the Deed of Trust to evidence such extension of the maturity date of the Promissory Note.
C. Original Lender wishes to assign all of its rights and interests under the Deed of Trust, as amended by this Amendment, to New Lender and Original Lender and New Lender wish to enter into this Amendment to evidence such assignment.
Agreement
In consideration of the Promissory Note and the promises and agreements made in this Amendment, the sufficiency of which are hereby acknowledged, Grantor, Original Lender and New Lender hereby promise and agree as follows.
1. Amendment to Deed of Trust; Extension of Maturity Date. Principal and interest shall be payable at 000 Xxxxxxxxxxx Xxxx, Xxxxxxxxxx, Xxx Xxxx 00000, or such other place as the New Holder may designate, in monthly payments of Six Thousand Eight Hundred Eighty and 70/100 ($6,880.70) Dollars, due on the first day of each month beginning on February 1, 2005. Such payments shall continue for eleven (11) payments. On January 1, 2006, the entire outstanding balance evidenced by the Promissory Note is due and owing.
2. Assignment of Deed of Trust. In consideration of the sum of $1.00 and other valuable consideration paid to Original Lender, the receipt and sufficiency of which is hereby acknowledged by Original Lender, Original Lender hereby assigns to New Lender, as amended by this Amendment, and the Promissory Note secured thereby, together with all moneys now owing or that may hereafter become due or owing in respect thereof, and the full benefit of all the powers and of all the covenants and provisions therein contain, and Original Lender hereby grants and conveys to New Lender, the Property, to have and to hold forever, along with the Deed of Trust, as amended by this Amendment, and the Promissory Note, subject to the terms contained in the Deed of Trust, as amended by this Amendment, and the Promissory Note. New Lender, by execution hereof, accepts such assignment. Any and all references in the Deed of Trust, as amended by this Amendment, to Lender shall hereafter mean and refer to New Lender and any and all notices and payment to Lender shall hereafter be delivered to New Lender at the following address: 000 Xxxxxxxxxxx Xxxx, Xxxxxxxxxx, Xxx Xxxx 00000.
2. Effect. Except as specifically amended by Sections 1 and 2 of this Amendment, the Deed of Trust shall not be amended or modified hereby. As amended as provided in Sections 1 and 2 of this Amendment, the Deed of Trust shall continue in full force and effect.
IN WITNESS WHEREOF, the Grantor, Original Lender and New Lender have executed this Amendment, intending this Amendment be effective as of the date first set forth above.
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| Grantor: | ||
| WISE RECYCLING WEST, LLC, a Delaware limited liability company | ||
| By: |
/s/ Xxxxx Xxxxxxx | |
| Print Name: |
Xxxxx Xxxxxxx | |
| Its: |
Treasurer | |
| STATE OF MARYLAND |
) | |
| )ss. | ||
| COUNTY OF XXXXXX |
) |
The foregoing instrument was acknowledged before me this day of January, 2005, by Xxxxx X. Xxxxxxx as Treasurer of Wise Recycling West, LLC, a Delaware limited liability company.
Witness my hand and official seal.
My commission expires: 3/1/08
| /s/ Xxxxx X. Xxxxxxxx |
| Notary Public |
| Original Lender: | ||
| TOMRA of North America Finance Corporation | ||
| By: |
/s/ Xxxxxxx X. Xxxxx | |
| Print Name: |
Xxxxxxx X. Xxxxx | |
| Its: |
President | |
| STATE OF CONNECTICUT |
) | |
| )ss. | ||
| COUNTY OF FAIRFIELD |
) |
The foregoing instrument was acknowledged before me this 24th day of January, 2005, by Xxxxxxx X. Xxxxx as President of TOMRA of North America Finance Corporation.
Witness my hand and official seal.
My commission expires: 5/31/07
| /s/ Xxxxxxx Xxxxxxx |
| Notary Public |
| New Lender: | ||
| GAB Holding LLC | ||
| By: |
/s/ Xxxxx Xxxxxxxx | |
| Print Name: |
Xxxxx Xxxxxxxx | |
| Its: |
Secretary | |
| STATE OF NEW YORK |
) | |
| )ss. | ||
| COUNTY OF XXXXXXXX |
) |
On the 28th day of January, 2005, before me, the undersigned, a Notary Public in and for the State, personally appeared Xxxxx Xxxxxxxx as Secretary of GAB Holding LLC, a Delaware limited liability company, personally known to be or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me he executed the same in his capacity, and that by his signature on the instrument, the individual, or the person on behalf of which the individual acted, executed the instrument.
Witness my hand and official seal.
My commission expires: 12/2/05
| /s/ Xxx Xxxxxxx |
| Notary Public |
Return to:
Xxxxxxxxx X. Xxxxx, Esq.
Xxxxx Xxxxxx & Xxxxxx LLP
0000 Xxxxxxxxxxx Xxxxxx, Xxxxx 000
Xxxxxx, XX 00000
