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Home My WebLink About2008-07-08 Ltr - Attachement 10-12i 118188/ Additional Certificate #:'s 54780 Receipt #: 56154 MA $86.00 Retum to; FIRST AMERICAN TITLE-NICOLLET MALL 19W MIDWEST PLAZA WEST 801 NICOLLET MALL MINNEAPOLIS MN &UO2 01 ?VJ4 ism] ilia Certified Filed and/or recorded on: 1211/2007 4:32 PM 1181884 Certlflcate #: 84778 64779 Office of the Registrar of Titles Property Records & Taxpayer Services Washington County, MN Kevin J Corbid, County Recorder MODIFICATION OF AND PARTIAL RELEASE OF LAND FROM CONSOLIDATED AMENDED AND RESTATED MULTIFAMII,1' MORTGAGE, ASSIGNMENT OF RENTS, SECURITY AGREEMENT A FIXTURE FINANCING S'T'ATEMENT LIEN THIS MODIFYCATION OF AND PARTIAL, RELEASE OF LAND FROM CONSOLIDATED AMENDED AND RESTATED MULTIFAMILY MORTGAGE, ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND FIXTU1tE FINANCING STATEMENT LIEN is made and entered into this Ajj�_ day of G �gr 2007, by and between VSSA Boutwells Landing, LLC, a Minnesota limited liability company ( "Borrower ") U.S. BANK NATIONAL, ASSOCIATION, a national banking association ( "Issuer ") as successor -in- interest to The City of Oak Park Heights, Minnesota, a municipal corporation duly organized and existing under the laws of the United States ( "City"), and Federal Home Loan Mortgage Corporation, ashareholder- owned, government - sponsored enterprise organized and existing under the laws of the United States of America ( "Freddie Mac ") (Issuer and Freddie Mac are sometimes hereinafter collectively referred to as "Lender "). WITNESSETH. WHEREAS, City, Fre Mac and the Borrower entered into a Consolidated, Amended and Restated Multifamily Mortgage, Assn Assignment . g nt of Rents, Security Agreement, Fixture Financing Statement in favor of Fender, date . n e o d November l , 2005, filed � the of the e Registrar of Title's office in and for Washington " Mortgag e"), g on County, ' innesota on December 2005 M as Document No, 1 162816 (the a e" which � 7 g g �, Bch Mortgage consolidates, amends and re those three (3) mort a es identified on states certain g g the attached Schedule 1 hereto; and WHEREAS, City, Freddie Mac, Borrower and Issuer entered into a certain Assignment and intercreditor Agreement dated as of November l , 2005, recorded in the office of th Washington Count, Registrar of Titles on DZM, e December �, as Document Igo. !Aa l n ed all its ri h l 7 whereby the City assigned rig title and interest in the Mortgage to Freddie Mac and NCS4 - 9-, QPLS (JOY'S RETURN To. 0 First American Title Insurance Company 1900 Midwest Plaza West 801 Nicoile2 Mall Minneapolis, MN 55402 �� WHEREAS, City, Freddie Mac and the Borrow e �J r entered into a CC Financing Statement, dated November 1, 2005 filed in the � ; office of the Registrar of Titles In and for Washington bounty, Minnesota on December 8 20�� , 05 as Document Igo, � � 6344 (the F�nanc�n ; g Statement"); and WHEREAS, Borrower is replattin Parcels 4 5 . g and 6 on Exhibit A attached to the Mortgage and Financing Statement ("Release Parcels"), C s ), which is as a ort�on of the � (as define � Mortgaged Pro p � d 'n the Mortgage }, pursuant to a Registered � g °red Land S urvey so that Release Parcel ,A has defined in the Mortgage) can b e released from the lien of the Mortgage Financing Statement' and and WHEREAS, the Release Parcels are the same exact property property legally described ' in the and WHEREAS, Release Parcel A described In the Mortgage is the same exact property legally described on Exhibit B attached hereto. NOW, THEREFORE, for adequate and valuable consideration, Borrower, Issuer and Lender agree as follows° I. Parcels 4, 5 and 6 legally described on Exhibit A attached to the Mortgage and Financing Statement are hereby deleted and replaced � , . p with the legal description contained on Exhibit A attached hereto, Z. Lender hereby forever releases and discharges that . g certain tract of land legally described on Exhibit B attached hereto from the lien of h • t e Mortgage and Financing Statement. 3. The Mortgage and Financing tatement shall remain i g a n �n full force and effect • In accordance with their respective terms and conditions including , ng rern alning as a lien against the d Property (as defined in the Mor exce . pt for the land legally described on Exhibit B attached hereto. [SIGNATURE PAGE TO FOLLOW] ►I U.S. BANK NATIONAL ASSOCIATION a national banking association V. � - STATE OF MINNESOTA ) ) SS. COUNTY OF 4*L&L The foregoin instrument was acknowledged be me is g day of 2007 by by , the AF-40 j( WO �A of U. Bank National Association, a national banking ssociation on behalf . g � f of the association. My Commission Expires: 't�l 2 U.S, BANK NATIONAL ASSOCIATION, a national banking association B Name, Title: As tant Vice President STATE OF MINNESOTA ) ) ss. COUNTY OF The foregoing instrument was acknowled ed be re rn e this Oh^- da of * 2007 b .� Y • the U.S. B ank of U National Association, a national banking association, on behalf of the association. 11 FEDERAL HOME LOAN MORTGAGE CORPORATION, a shareholder - owned, government - sponsored enterprise organized and existing under the laws of the United States By. N e. Ilona T. Conoll'y Its: Director, Special Products d Intiatives STATE OF ViR(�TTNiA) COUNTY OF FATRFAX) The foregoing e f instrument was acknowledged before me this 4 day of December . . ° � , 2007, by Ilona T. Conolly , the. Director, Special Products and Intiatives of the Federal H ome Doan Mortgage Corporation, a shareholder - owned, governrnent -s onsored enterp or s p �p or gani zed and existing under the laws of the United States, on behalf of the corporation. THIS INSTRUMENT WAS DRAFTED BY: ME S S ERLI & FRAMER P.A. (MRJ) 1800 Fi fth Street Towers 150 South Fifth Street Minneapolis, MN 554424218 (612) 672-3718 OF m Y Q r � �� NOTARY PUBLIC Cmmmonwea" of W*a My Commission Expires 0404mbnr 31, 2009 SCHEDULE 1 I , Combination Mortgage, Security Agreement, Assignment of Leases eases and Rents and Fixture Financing Statement executed by VSSA MCIEAN WEST L, . LC, a Minnesota limited liability company, to Minnwest Bank, Central, a Minnesota banking corporation, g orporat�on, dated May 15, 2003, recorded May 30, 2003, as Document No. 1129297 securing he original . g r�g�nal pr�nc�pal amount of $24,000,000.00, and any other amounts which may become due , Y , as assigned to City of oak Park Heights, Minnesota by Assignment of Mortgage dated November 1 , 2005, recorded December 2, 2005, as Document No, 1162811, and as assi ned to VS ' . . g Boutwells Landing, LLC, a Minnesota limited liability company, b Assumption and Rele Y p Agreement dated November 1, 2005, recorded December 2, 2005, as Document No. 1162815; 2. Combination Mortgage, Security Agreement, Assignment of Lease an . g d Rents and Fixture Financing Statement executed by vSSA HOUSING AND COMMUNITY SERVICES, LLC, a Minnesota limited liability company, to City of oak Park Heights, a political subdivision . , g � p of the State of Minnesota, dated December 1, 2000, recorded Jana 23 2001 as �'' � Document No. 1096480, in the original principal amount of $30,000,000.00, and an other amo unts o ants why ch may become due, as assigned to National City Bank of Minneapolis, a national b . . p � banking a ssociat i on, by Assignment of Mortgage dated December 29, 2000J, recorded January 23 200 1, as Document No. 1096481, and as assigned to the City of oak Park Heights, Minnesota b Assignment g Y of Mortgage dated November 15, 2005, recorded December 2, 2005 as Document No. 11 62812, and as further assigned to vSSA Bout Landing, LLC, a Minnesota limited liabi lity company, by Assumption and Release Agreement dated November 1, 2005 recorded December 2, 2005, as Document No. 1162815; and 3. Combination Mortgage, Assignment of Rents, Security Agreement and Fixture F' tY g Financing Statement executed by valley Senior Services Alliance, a Minnesota nonprofit corporation, P rp n, to City of oak Park Heights, Minnesota, a political subdivision of the State of Minnesota dated May 18, 2000, recorded May 30, 2000, as Document No. 1 091193, in the on final principal g p copal amount of $10,000,000.00, and any other amounts which may become due as assigned Y 9 g to Richfield Bank & Trust Co., a Minnesota banking corporation, dated May 1 g 2000 Y � recorded May 30, 2000, as Document No. 1491194, as amended b Assignment, Assumption Y g p and Release Agreement dated December 29, 2000 recorded January 11, 2001, as Document No. 109622 as assigned to the City of oak Park Heights, Minnesota by a Assignment of Mortg date g gg d November 14, 2005, recorded December 2, 2005, as Document No. 1162813 as further ' n .. er assigned by vSSA Boutwells Landing, LLC, a Minnesota limited liability c b Assu tY p Y� Y and Release Agreement dated November 1, 2005, recorded December 2 2405 as Document No. 11628 15. n EXHIBIT A Le,eal Descriv Tracts A, 1B and C, Registered Land Survey ' � � No. �.....N.., Washington County, Minnesota EXHIBIT B Leal Deseri mion Tract ,A, Registered Land Survey No, , Washington County, Minnesota; 8 � J Y � CONSENT OF GUARANTOR Presbyterian Homes and Services, a Minnesota non-profit p corporation, as guarantor under the Guaranty dated effective November 1 2005 in favor of Federal home Mortgage, Freddie Mae Loan No, 002765535, hereby onsents to t ' y e foregoing Partial Release of band from Consolidated Amended and Restated Multi-Family i amy Mortgage, Assignment of Rents, Security Agreement and Fixture Financin g Statement Lien, PRESBYTERIAN DOMES AND SERVICES, a Minnesota non-profit corporation By: Name: Mark T. Meyer Title: Chief Financial Officer 700370.4 6