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Exhibit 10.106.1
(OH/New Towne Mall)
MODIFICATION OF INDEBTEDNESS SECURED BY OPEN-END MORTGAGE,
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ASSIGNMENT OF RENTS AND SECURITY AGREEMENT
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WHEREAS, under date of May 15, 1997, Glimcher Properties Limited
Partnership (the "Borrower") executed and delivered its certain Open-End
Mortgage, Assignment of Rents and Security Agreement (the "Mortgage") to The
Huntington National Bank, whose current mailing address is 00 Xxxxx Xxxx Xxxxxx,
Xxxxxxxx, Xxxx 00000, as administrative agent for Key Bank National Association,
The Huntington National Bank and certain other banks who are or may become
signatories to a certain Second Amended and Restated Loan Agreement dated May
15, 1997 (the "Mortgagee"), and,
WHEREAS, the Mortgage was filed for record with the Tuscarawas County
Recorder on May 23, 1997, at 9:05 a.m., and thereafter recorded in Mortgage
Record 793, page 341, and,
WHEREAS, the premises encumbered by the Mortgage are more fully
described in "Exhibit A" attached hereto and made a part hereof by this
reference, and,
WHEREAS, Ohio Revised Code ss. 5301.231 provides, inter alia, that all
amendments of the debt secured by a mortgage shall be recorded in the office of
the county recorder in which the mortgaged premises are situated, and,
WHEREAS, Borrower and related entities have entered into a First
Amendment to Second Amended and Restated Loan Agreement dated __________, 1999,
which, among other things, amends or modifies the indebtedness secured by the
Mortgage, and,
WHEREAS, the parties, in order to comply with Ohio Revised Code ss.
5301.231 and to give constructive notice of the amendments to the indebtedness
secured by the Mortgage do hereby certify that the indebtedness secured by the
Mortgage has been modified or amended in the following respects:
1. The indebtedness shall be payable not later than January 31, 2001,
instead of July 31, 1998, as set forth in the Mortgage.
2. The interest payable on the principal indebtedness secured by the
Mortgage shall be calculated in accordance with Section 2.2 of the First
Amendment to Second Amended and Restated Loan Agreement, rather than as provided
in that section of the Second Amended and Restated Loan Agreement.
Borrower and Mortgagee agree that the Mortgage shall remain a first
lien on the mortgaged premises in full force and effect in all respects as if
the unpaid balance of the principal, with the interest accrued thereon, had
originally been payable as provided for herein. Nothing herein shall affect or
impair any rights and powers which Mortgagee may have
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thereunder. Borrower covenants that it will pay the principal balance of the
indebtedness together with interest, as specified above, and that it will
perform and observe all other covenants, agreements, stipulations and conditions
on its part to be performed under the Mortgage.
IN WITNESS WHEREOF, Lender, by its duly authorized officer, and
Borrower, by its duly authorized general partner, have caused this Agreement to
be executed this ____ day of _________________, 1999.
LENDER:
Signed and acknowledged THE HUNTINGTON NATIONAL BANK,
in the presence of: a national banking association, as
administrative agent
By Xxxxx XxXxxxxx
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Signature
Its: Vice President
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Printed Name
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Signature
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Printed Name BORROWER:
GLIMCHER PROPERTIES LIMITED
PARTNERSHIP, a Delaware limited
partnership
By: Glimcher Properties Corporation, a
Delaware corporation, its Sole
General Partner
By Xxxxxxx X. Xxxxxxx
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Signature
Its: Executive Vice President, Chief
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Operating Officer and Chief Financial
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Officer
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Signature
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Printed Name
STATE OF OHIO,
COUNTY OF FRANKLIN, SS:
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On this ___ day of ______, 1999, before me, a Notary Public in and for
said County and State, personally appeared __________________________, who
acknowledged ____________to be the ____________________________ of The
Huntington National Bank, a national banking association, administrative agent
for KeyBank National Association, The Huntington National Bank and certain other
banks who are or may become signatories to a certain Second Amended and Restated
Loan Agreement dated May 15, 1997, and who acknowledged to me that _____, as
such _______________________ of said association in its capacity as said
administrative agent, being duly authorized by the association, did execute the
foregoing instrument for and on behalf of said association as administrative
agent and that such signing is the free act and deed of the association as such
administrative agent for the uses and purposes therein mentioned.
IN WITNESS WHEREOF, I have hereunto set my hand and official seal.
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Notary Public
My Commission Expires:
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STATE OF OHIO,
COUNTY OF FRANKLIN, SS:
On this ____ day of _______, 1999, before me, a Notary Public in and
for said County and State, personally appeared ______________________________,
who acknowledged to be the ___________________________________ of Glimcher
Properties Corporation, a Delaware corporation, the corporation named in the
foregoing instrument as the sole General Partner of GLIMCHER PROPERTIES LIMITED
PARTNERSHIP, the limited partnership which executed the foregoing instrument,
and who acknowledged to me that ___, as such _______________________ of said
corporation, being duly authorized by the Board of Directors of said
corporation, did execute the foregoing instrument for and on behalf of said
limited partnership and that such signing is the free act and deed of said
limited partnership for the uses and purposes therein mentioned.
IN WITNESS WHEREOF, I have hereunto set my hand and official seal.
Xxxxxxx Xxxxxx
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Notary Public
My Commission Expires: January 30, 2000
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THIS INSTRUMENT PREPARED BY:
Xxxxxx X. Xxxxx, Attorney
PORTER, WRIGHT, XXXXXX & XXXXXX
00 Xxxxx Xxxx Xxxxxx
Xxxxxxxx, Xxxx 00000
