THIRD AMENDMENT TO TIMBERLAND DEED OF TRUST AND SECURITY AGREEMENT WITH ASSIGNMENT OF RENTS (STATE OF WASHINGTON)
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Exhibit 10.24 |
THIRD
AMENDMENT TO TIMBERLAND DEED OF TRUST
AND SECURITY AGREEMENT WITH ASSIGNMENT OF RENTS
(STATE OF WASHINGTON)
This amends Timberland Deed of Trust and Security Agreement with Assignment of Rents, dated and recorded April 29, 1992, in Volume 271, pages 237-332, Records of Jefferson County, Washington; first amended May 13, 1992 by Amendment recorded August 26, 1992, in Volume 385, pages 204-206, records of Jefferson County, Washington; and amended May 25, 1993 by Second Amendment recorded June 14, 1993, in Volume , pages , records of Jefferson County, Washington.
1. Section 1.18(A) is amended so as to add the following:
Anything to the contrary in this Deed of Trust notwithstanding:
A. Provided, that the total timber harvested from the Property in calendar year 1995 does not exceed 16,500 MBF, no principal payment on the Note related to excess harvesting shall be due as a result of said 1995 harvest.
B. The volume of timber harvested from the Property in calendar year 1996, without incurring any liability for a principal payment, is set at 14,000 MBF.
2. As amended and supplemented hereby, the Deed of Trust and the first and second amendments thereto are ratified and confirmed.
3. The effective date of this Amendment shall be January 1, 1995.
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DATED: December 19, 1995. |
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XXXX RESOURCES, A Delaware Limited Partnership |
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By: |
XXXX MGP, INC. |
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By: |
/s/ Xxxxxx Xxxxxxx |
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Xxxxxx Xxxxxxx, President |
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ATTEST: |
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/s/ Xxxxxx X. Xxxxx |
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Xxxxxx Xxxxx, |
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Vice President — Finance |
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XXXX XXXXXXX MUTUAL LIFE INSURANCE COMPANY |
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By: |
/s/ Xxx Xxxxx, Xx. |
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Xxx Xxxxx, Xx. |
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Its: Senior Investment Officer |
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STATE OF WASHINGTON |
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COUNTY OF KITSAP |
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On this 19th day of December, 1995, before me, the undersigned, a Notary Public in and for the State of Washington, personally appeared Xxxxxx X. Xxxxxxx and Xxxxxx Xxxxx, to me known to be the President and Vice President, respectively, of Xxxx MGP, Inc., the corporation that executed the foregoing instrument as Managing General Partner of Xxxx Resources, A Delaware Limited Partnership, and acknowledged the said instrument to be the free and voluntary act and deed of said corporation on behalf of said Xxxx Resources, A Delaware Limited Partnership, for the uses and purposes therein mentioned, and on oath stated that they were authorized to execute the said instrument.
Witness my hand and official seal hereto affixed the day and year first above written.
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/s/ Xxxxxxxxxx XxXxxxx |
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NOTARY PUBLIC IN AND FOR THE STATE OF WASHINGTON |
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residing at Silverdale, Washington |
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My appointment expires 10-14-98 |
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THE COMMONWEALTH OF MASSACHUSETTS |
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COUNTY OF SUFFOLK |
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On this 20th day of December, 1995, before me, the undersigned, a Notary Public in and for the said Commonwealth, residing therein, duly commissioned and sworn, personally appeared Xxx Xxxxx, Xx., to me personally known who by me duly sworn, did say that he is a Senior Investment Officer of XXXX XXXXXXX MUTUAL LIFE INSURANCE COMPANY, that the seal affixed to the foregoing instrument is the corporate seal of said corporation, and that said instrument was signed and sealed in behalf of said corporation by authority of its Board of Directors and as the free act and deed of said corporation, for the uses and purposes therein mentioned.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal in said County the day and year in this certificate first above written.
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Xxxx (Unreadable) |
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NOTARY PUBLIC IN AND FOR SAID COMMONWEALTH |
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My appointment expires February 13, 1998 |
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