EX-10.4 6 exhibit_10-4.htm SECURITY AGREEMENT MIAMI LAKES VENTURE ASSOCIATES, as mortgagor (Borrower) To LEHMAN BROTHERS BANK, FSB, as mortgagee (Lender) NOTICE OF FUTURE ADVANCE, MORTGAGE MODIFICATION, EXTENSION AND SPREADER AGREEMENT AND SECURITY...And Spreader Agreement and Security Agreement • May 5th, 2020
NOTE TO RECORDER: THIS INSTRUMENT SECURES A FUTURE ADVANCE, RENEWAL AND CONSOLIDATION PROMISSORY NOTE, DATED AS OF EVEN DATE HEREWITH, MADE BY MIAMI LAKES VENTURE ASSOCIATES, A FLORIDA GENERAL PARTNERSHIP (“BORROWER”), IN FAVOR OF LEHMAN BROTHERS BANK, FSB, A FEDERAL STOCK SAVINGS BANK (“LENDER”), IN THE ORIGINAL PRINCIPAL AMOUNT OF $54,000,000.00 (THE “NOTE”). THE NOTE EVIDENCES (A) THE RENEWAL OF PRINCIPAL INDEBTEDNESS IN THE AMOUNT OF $16,611,051.78 OUTSTANDING UNDER THAT CERTAIN CONSOLIDATED RENEWAL PROMISSORY NOTE, DATED SEPTEMBER 4, 1997, IN THE ORIGINAL PRINCIPAL AMOUNT OF $19,000,000.00, MADE BY BORROWER IN FAVOR OF LEHMAN BROTHERS HOLDINGS INC. (D/B/A LEHMAN CAPITAL, A DIVISION OF LEHMAN BROTHERS HOLDINGS INC.), A DELAWARE CORPORATION (“LEHMAN HOLDINGS”), AS FURTHER ASSIGNED TO LASALLE NATIONAL BANK, AS TRUSTEE FOR THE COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1997-LL1 (“LASALLE”), AS ASSIGNED TO LENDER (THE “THIRD CONSOLIDATED NOTE”), (B) A FUTURE ADVANCE IN THE OR
