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 AGREEMENT Dated: As of November 15, 2006...Extension and Spreader Agreement and Security Agreement • May 9th, 2007 • Sun Communities Inc • Real estate investment trusts
Contract Type FiledMay 9th, 2007 Company IndustryNOTE 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