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Exhibit 4(iii)
AMENDMENT TO MORTGAGE AND SECURITY AGREEMENT
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This Amendment to Mortgage and Security Agreement (this "Amendment") is
made as of the 15th day of December, 1993, by and among THE FALKIRK
MINING COMPANY, an Ohio corporation qualified to do business in North Dakota and
having an address at 2000 Xxxxxxx Street, Bismarck, North Dakota ("Mortgagor"),
COOPERATIVE POWER ASSOCIATION, a Minnesota electric cooperative qualified to do
business in North Dakota and having an address at 00000 Xxxx Xxx Xxxx, Xxxx
Xxxxxxx, Xxxxxxxxx, and UNITED POWER ASSOCIATION, a Minnesota electric
cooperative qualified to do business in North Dakota and having an address at
00000 Xxxx Xxxxxxx 00, Xxxx Xxxxxx Xxx 000, Xxx Xxxxx, Xxxxxxxxx (COOPERATIVE
POWER ASSOCIATION AND UNITED POWER ASSOCIATION are collectively referred to
herein as "Mortgagee");
WITNESSETH THAT:
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WHEREAS, pursuant to a Mortgage and Security Agreement dated April 8,
1976, filed for record in the office of the Register of Deeds for XxXxxx County,
North Dakota, on May 21, 1976, as Document Number 268423, and duly recorded in
Book B-86 of Mortgages, Page 497 (the "Mortgage"), Mortgagor mortgaged and
granted a security interest to Mortgagee in and to certain real and personal
property more particularly described therein; and
WHEREAS, portions of the property encumbered by the Mortgage have from
time to time been released pursuant to Partial Satisfactions of Mortgage
executed by the appropriate parties and duly recorded in the aforementioned
records; and
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WHEREAS, Mortgagor and Mortgagee have agreed to submit certain
additional real property to the lien, security interest and operation of the
Mortgage, and have further agreed that certain real property shall be released
from the Mortgage under the circumstances hereinafter set forth.
NOW, THEREFORE, for and in consideration of Ten Dollars ($10.00) and
other valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Mortgagor and Mortgagee agree as follows:
1. Unless otherwise defined herein, terms used in this instrument shall
have the meanings ascribed to them in the Mortgage.
2. ADDITION TO PROPERTY. The Mortgage is hereby amended by including
all of Mortgagor's right, title and interest in and to that certain Sublease
Agreement dated as of December 15, 1993, between North American Coal Royalty
Company and Mortgagor which is made a part hereof by this reference, in the
Mortgaged Property upon and subject to all of the terms and conditions of the
Mortgage. From and after the date hereof, Mortgagor's right, title and interest
in the Sublease Agreement property described on the attached SCHEDULE 1 shall be
deemed to be "Mortgaged Property" under the Mortgage.
3. CERTAIN RELEASES. Mortgagee hereby agrees that if it shall, in its
capacity as "Buyer" under that certain Coal Sales Agreement, dated July 1, 1974,
between Mortgagor and Mortgagee, as such agreement has been or may hereafter be
modified and amended (the "Coal Sales Agreement"), instruct Mortgagor, in its
capacity as "Mining Company" under the Coal Sales Agreement, to permanently
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cease deliveries of coal shipments from Mortgaged Property comprised within the
Riverdale Coal Field (as such term is defined in the Coal Sales Agreement) (in
any case, the "Severed Property"), Mortgagee shall, concurrently with its
delivery of such instruction, cause the Severed Property to be released from the
lien and operation of the Mortgage. Mortgagee shall, and hereby covenants and
agrees to, execute and deliver any and all documents, instruments and agreements
necessary to implement the provisions of this Section 3.
4. MISCELLANEOUS. Mortgagor and Mortgagee hereby ratify and affirm the
Mortgage, and each and every provision thereof, as amended hereby and as
affected by the aforementioned Partial Satisfaction of Mortgage executed in
connection therewith, and agrees that (as so modified, amended and affected) the
Mortgage remains in full force and effect.
IN WITNESS WHEREOF, the parties have caused this instrument to be
executed as of the day and year first above written.
Signed and acknowledged THE FALKIRK MINING COMPANY
in the presence of:
By: /s/ Xxx X. Xxxxxxx
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Title: President
Attest: /s/ Xxxx X. Xxxxxx
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Title: Vice President
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COOPERATIVE POWER ASSOCIATION
By: /s/ Xxxxxx X. Xxxx
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Title: General Manager
Attest: /s/ Xxxxxx X. Xxxxxxxxxx
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Title: Manager, Funds & Risk Management
UNITED POWER ASSOCIATION
By: /s/ P. O. Xxxxxx
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Title: General Manager
Attest: /s/ Xxxxxx Xxxxxxx
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Title: Administrative Secretary
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