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Home My WebLink About2016-12-12 IDA PacketTHE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF RIVERSIDE, MISSOURI Board of Directors Notice of Meeting Notice is hereby given that the Board of Directors of The Industrial Development Authority of the City of Riverside, Missouri will conduct a meeting at 5:15 p.m. on Monday, December 12, 2016, at the City Hall of Riverside, 2950 NW Vivion Road, Riverside, Missouri 64150. The tentative agenda of this meeting includes: 1. OPENING 2. ROLL CALL 3. APPROVAL OF MINUTES OF MEETINGS: October 4, 2016 4. NEW BUSINESS A. RESOLUTION 2016-005: A RESOLUTION APPROVING THE REPLAT OF THE FINAL PLAT OF RIVERSIDE HORIZONS INDUSTRIAL VI EAST, FIRST PLAT, AND AUTHORIZING THE REALLOCATION OF TAXES AND ASSESSMENTS IN CONNECTION THEREWITH B. A RESOLUTION AUTHORIZING THE SALE AND TRANSFER OF CERTAIN PROPERTY TO THE CITY OF RIVERSIDE, MISSOURI; DIRECTING UMB BANK, N.A. TO RELEASE SUCH PROPERTY FROM THE DEED OF TRUST AND SECURITY AGREEMENT; AND AUTHORIZING OTHER ACTIONS IN CONNECTION THEREWITH (HORIZONS INDUSTRIAL VI). 5. ADJOURNMENT Posted by: Sarah Wagner Date: December 9, 2016 Time: 8:00 a.m. MINUTES REGULAR MEETING THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF RIVERSIDE, MISSOURI Tuesday, October 4, 2016 5:15 p.m. The Industrial Development Authority of the City of Riverside, Missouri, met in regular session at City Hall, 2950 NW Vivion Road, Riverside, Missouri. President Leland Finley called the meeting to order at 5:12 p.m. Answering roll call were Leland Finley, Jason Rule, Pam Darata, Harold Snoderley and Art Homer. Also present: Sarah Wagner Community Development. Approval of Minutes Jason Rule moved to approve the minutes from August 25, from August 25, 2016 2015. Resolution 2015-004: Electing Officers Art Homer seconded and the motion passed 5-0. Pam Darata moved to approve Resolution 2016-004: A Resolution authorizing the execution and delivery of a cooperation agreement amongst the City of Riverside, Missouri, the Riverside Quindaro Bend Levee District of Platte County, the Industrial Development Authority of the City of Riverside, Missouri, and UMB Bank N.A. as Trustee, and authorizing related actions. Harold Snoderley seconded and the motion passed 5-0 Adjournment Harold Snoderley moved to adjourn the meeting at 5:14 p.m., seconded by Jason Rule. Motion passed 5-0. IDA Resolution 2016-005 IDA RESOLUTION NO. 2016-005 A RESOLUTION APPROVING THE REPLAT OF THE FINAL PLAT OF RIVERSIDE HORIZONS INDUSTRIAL VI EAST, FIRST PLAT, AND AUTHORIZING THE REALLOCATION OF TAXES AND ASSESSMENTS IN CONNECTION THEREWITH Pursuant to the provisions of Chapter 349, RSMo., as amended, the Board of Directors of The Industrial Development Authority of the City of Riverside, Missouri (the "IDA"), hereby adopts this Resolution and directs that this Resolution be filed with the official IDA minutes: WHEREAS, the IDA currently owns all of Lot 1, Riverside Horizons Industrial VI East, (the "Lot) being a subdivision in the City of Riverside, Platte County, Missouri, according to the recorded plats thereof; WHEREAS, Application No. PC16-17 was submitted to the City of Riverside, Missouri requesting approval of the Final Plat of the REPLAT OF RIVERSIDE HORIZONS INDUSTRIAL VI EAST, a Replat of all of Lot 1, Riverside Horizons Industrial VI East, a subdivision in the City of Riverside, Platte County, Missouri, along with the vacated portion of Domain Street (the "Plat") to combine said Lot and vacated right of way into a single lot to accommodate the construction of an approximately 400,000 square foot industrial facility; WHEREAS, the Planning Commission considered the application on November 10, 2016 and recommended that the Plat be approved; and WHEREAS, the IDA desires to approve the Plat to accommodate said development and to approve and authorize the reallocation of taxes and assessments, including levee assessments, resulting from the combination of the Lot and right of way vacation into a single lot by way of the Plat. NOW THEREFORE, BE IT RESOLVED, by the Board of Directors of the Industrial Development Authority of the City of Riverside, Missouri as follows: Section 1. The IDA's approval of the Plat, attached hereto and incorporated herein as Exhibit "A", is hereby approved and the President and Vice President are hereby authorized to execute and deliver and the Secretary and the Assistant Secretary are hereby authorized to attest to, the Plat, such officials' signatures thereon being conclusive evidence of his or her approval and the IDA's approval thereof; provided, however, that such approval and authorization are conditioned upon approval of the Plat by the City of Riverside's Board of Aldermen pursuant to ordinance. 1 IDA Resolution 2016-005 Section 2. The President, Vice -President, Secretary, Assistant Secretary and other appropriate officers and agents of the IDA are hereby authorized to take such further actions and execute such other documents as may be necessary or desirable to carry out and comply with the intent of this Resolution, including the execution and delivery of such documents as may be necessary to combine the tax and assessment parcels for the Lot and right of way vacation into the new Lot 1, of the REPLAT OF RIVERSIDE HORIZONS INDUSTRIAL VI EAST, a subdivision in the City of Riverside, Platte County, Missouri. Section 3. This Resolution shall be in full force and effect from and after its adoption. ADOPTED THIS DAY OF , 2016. This Resolution was adopted at the meeting of the Board of Directors of the IDA duly called and held this date. (SEAL) ATTEST: Sarah Wagner, Secretary 2 Leland Finley, President IDA Resolution 2016-005 EXHIBIT A FINAL PLAT 3 FINAL PLAT REPEAT OF RIVERSIDE HORIZONS INDUSTRIAL VI EAST ALL OF LOT 2, RIVERSIDE HORIZONS INDUSTRIAL III EAST, TOGETHER WITH PART OF TRACT D AND ALL OF LOTS 9 AND 10, RIVERSIDE HORIZONS EAST FIRST PLAT, BOTH PLATTED SUBDIVISIONS, AND ALL THAT PART OF VACATED DOMAIN STREET RIGHT-OF-WAY, ALL IN THE CITY OF RIVERSIDE, PLATTE COUNTY, MISSOURI qob Metro Control Station PL -66 (See Note) • N\ DESCRIPTION Q ¢o� ,p9 `9A8 S88 °19'59 "E 1522.49' 0 POINT OF BEGINNING LINE, SE 1/4, SECTION 5, T50N, R33W S. LINE, SW 1/4, SECTION 5, T5ON, R33W N. LINE, NW 1/4, FRAC. SECTION 8, T5ON, R33W S. LINE, SE 1/4, SECTION 5, T5ON, R33W N. LINE, NE 1/4, FRAC. SECTION 8, T5ON, R33W 0 50' 100' Fgsr 4i,9 T F,Q S TRF FT All of Lot 2, Riverside Horizons Industrial III East, together with part of Tract D and all of Lots 9 and 10, Riverside Horizons East First Plat, both platted subdivisions, and all that part of vacated Domain Street right-of-way, all in the City of Riverside, Platte County, Missouri, more particularly described as follows: Beginning at the Southwest corner of said Lot 2; thence North 21°54'55" East, coincident with the Westerly line of said Lot 2, a distance of 494.19 feet to the Northwest corner thereof, said point also being on the South right-of-way line of 41st Street, as it now exists; thence South 68°05'05" East, coincident with said South right-of-way line and its southeasterly prolongation, 1,784.19 feet to a point on the West line of Lot 8 of said Riverside Horizons East First Plat; thence South 21°54'54" West, coincident with said West line, 429.88 feet; thence southwesterly, continuing along said West line, along a curve to right having a radius of 350 feet, for a distance of 31.06 feet to the Southwest corner of said Lot 8; thence North 68°26'48" West, 100.64 feet to the Northeast corner of said Tract D; thence North 76°20'20" West, 227.43 feet; thence North 68°05'05" West, coincident with the North line of said Tract D and its southeasterly prolongation, 1,457.11 feet to the Point of Beginning, containing 874,671 square feet, or 20.080 acres, more or less. DEDICATION The undersigned proprietor of the above described tract of land has caused the same to be subdivided in the manner as shown on the accompanying plat, which subdivision and plat shall hereafter be known as "REPLAT OF RIVERSIDE HORIZONS INDUSTRIAL VI EAST". An easement is hereby granted to Riverside, Missouri and all public utilities, for the purpose of locating, constructing, and maintaining facilities for water, gas, electricity, sewage, telephone, cable tv, surface drainage, and grading, including, but not limited to, underground pipes and conduits, pad mounted transformers, service pedestals, any or all of them upon, over, under and along the strips of land designated as utility easements (U/E), provided that the easement granted herein is subject to any and all existing easements. Any utilities located within the designated utility easements, by virtue of their existence, do hereby covenant, consent, and agree that they shall be subordinate to said public right of way in the event that additional public right of way is dedicated over the location of the utility easement. Where other easements are designated fora particular purpose, the use thereof shall be limited to that purpose only. All of the above easements shall be kept free from any and all obstructions which would interfere with the construction or reconstruction and proper, safe and continuous maintenance of the aforesaid uses and specifically there shall not be built thereon or thereover any structure (except driveways, paved areas, grass, shrubs and fences) nor shall there be any obstruction to interfere with the agents and employees of Riverside, Missouri, and its franchised utilities from going upon said easement and as much of the adjoining lands as may be reasonably necessary in exercising the rights granted by the easement. EXECUTION IN TESTIMONY WHEREOF, the undersigned proprietor has caused this instrument to be executed this day of , 2016. THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF RIVERSIDE, MISSOURI Leland Finley, President Sarah Wagner, Asst. Secretary STATE OF MISSOURI ) ) SS COUNTY OF PLATTE ) BE IT REMEMBERED, that on this day of , 2016, before me a Notary Public in and for said County and State, came Leland Finley, President of The Industrial Development Authority of the City of Riverside, Missouri, and Sarah Wagner, Assistant Secretary, who are personally known to me to be the same persons who executed the foregoing instrument of writing on behalf of said owner, and they duly acknowledged the execution of the same. IN WITNESS WHEREOF, I have hereunto set my hand and seal on the day and year written above. Notary Public My Appointment Expires: A/j6 20 43 20"0/ CERTIFICATION I hereby certify that this subdivision plat is based on an actual survey completed on the ground by me or under my direct supervision, and that said survey meets or exceeds the current minimum standards for "Urban Class" boundary surveys as established by the Department of Natural Resources, Division of Geology and Land Survey of the State of Missouri and the Missouri Board for Architects, Professional Engineers and Land Surveyors, and that the results of said survey are represented on this drawing to the best of my professional knowledge and belief. \`��iiiliii,,,� \J M/ / / Z. (/): MICHAEL ;/3 SCHMIDTBERGER — NUMBER : 4 - LS -2000143910: C2,..• ....•••••....•••••iG _ .tom•• ••'., Michael Schmidtberger, Missouri LS 2000143910 APPROVALS Cik cb L=31.06' R=350' This is to certify that the within PLAT of "REPLAT OF RIVERSIDE HORIZONS INDUSTRIAL VI EAST" was submitted to and approved by the City of Riverside, Missouri, this day of , 2016. BY ORDINANCE NO.: BY: BY: Kathleen Rose, Mayor Robin Kincaid, City Clerk DATE: BY: Stephen King, Chairman of Planning Commission DATE: LEGEND: O SET 1/2" REBAR WITH RIC MO CAP 0 SET 5/8" X 24" REBAR WITH ALUMINUM RIC MO CAP A/E ACCESS EASEMENT SS/E SANITARY SEWER EASEMENT U/E UTILITY EASEMENT NOTES: LOCATION MAP SECTION 5-50-33 & 8-50-33 Scale 1" = 2000' Basis of Bearings: platted, N 21°54'55" E, along the East line of Lot 1, Riverside Horizons Industrial III East. Metro Control Station PL -66 Missouri State Plane Coordinate System 1983 (NAD -83) West Zone Northing: 332979.501m Easting: 837793.685m Converted to feet: Northing: 1092450.2451 Easting: 2748661.4454 All bearings and distances shown on this plat are measured and platted unless otherwise noted. CLOSURE CALCULATIONS: Precision, 1 part in: 707210.899' Error distance: 0.006' Error direction: S11 °34'59"W Perimeter: 4545.960' All distances shown on this plat are in ground feet. Flood Plain Note: According to the F.E.M.A. Flood Insurance Rate Map Number 29165C0392D, effective April 2, 2015, this tract graphically lies in OTHER FLOOD AREAS, ZONE X, defined as areas of 0.2% annual chance flood; areas of 1% annual chance flood with average depths of less than 1 foot or drainage areas less than 1 square mile; and areas protected by levees from 1% annual chance flood. 16-0114 REPLAT OF RIVERSIDE HORIZONS INDUSTRIAL VI EAST Prepared For: The Industrial Development Authority of the City of Riverside, Missouri 2950 NW Vivion Road Riverside, Missouri 64150 (816)741-3993 Date of Preparation: October 11, 2016 R 1 C� era ssa oe 5015 NW. Canal Street, Suite 100 816.800.0950 Riverside, Missouri 64150 www.ric-consult.com IDA Resolution 2016-006 IDA AMENDED RESOLUTION NO. 2016-006 A RESOLUTION AUTHORIZING THE SALE AND TRANSFER OF CERTAIN PROPERTY TO THE CITY OF RIVERSIDE, MISSOURI; DIRECTING UMB BANK, N.A. TO RELEASE SUCH PROPERTY FROM THE DEED OF TRUST AND SECURITY AGREEMENT; AND AUTHORIZING OTHER ACTIONS IN CONNECTION THEREWITH (HORIZONS INDUSTRIAL VI). Pursuant to the provisions of Chapter 349, RSMo., as amended, the Board of Directors of The Industrial Development Authority of the City of Riverside, Missouri (the "IDA"), hereby adopt this Resolution and direct that this Resolution be filed with the official IDA minutes: WHEREAS, the IDA issued its Industrial Development Revenue Bonds (Riverside Horizons Infrastructure Project - City of Riverside, Missouri), Series 2007 in the principal amount of $40,265,000 (the "Bonds"); and WHEREAS, the City of Riverside, Missouri ("City"), the IDA, and UMB Bank, N.A., entered into that certain Financing and Cooperation Agreement dated as of May 1, 2007 relating to the Bonds (the "Financing Agreement"); and WHEREAS, the Financing Agreement requires that the IDA, upon direction of the City, transfer and sell the Mortgaged Property (as defined in the Financing Agreement) to the City, in whole or in part, in one or more transactions; and WHEREAS, the City has, pursuant to Ordinance No. , a copy of which is presented with this Resolution and is on file with the Secretary, directed the IDA to convey to the City its interest in that certain portion of the Mortgaged Property comprising 874,671 +/- square feet, the legal description of such portion being: All of Lot 1, of the REPLAT OF RIVERSIDE HORIZONS INDUSTRIAL VI EAST, FIRST PLAT, a subdivision in Riverside, Platte County, Missouri, according to the recorded plat thereof. WHEREAS, the City conditioned its direction to the IDA to convey Lot 1 only upon passage by the Board of Aldermen and approval of the Mayor of an Ordinance ("Ordinance Approving Conveyance of Lot 1") authorizing the City to sell Lot 1 ("the Sale Property") to Riverside Horizons, LLC ("RH") for the specified sale price through a Purchase and Sale Agreement and to transfer the Sale Property to RH by way of a Special Warranty Deed, both of which Purchase and Sale Agreement and Special Warranty Deed are in a form approved by the City. NOW THEREFORE, BE IT RESOLVED, by the Board of Directors of the Industrial Development Authority of the City of Riverside, Missouri as follows: Section 1. The IDA's conveyance of all right, title and interest in the Mortgaged Property comprised of 874,671 +/- square feet, the legal description of such portion being: All of Lot 1of the REPLAT OF RIVERSIDE HORIZONS INDUSTRIAL VI EAST, First PLAT, a subdivision in Riverside, Platte County, Missouri, WA 6869617.2 IDA Resolution 2016-006 Section 2. The Special Warranty Deed conveying all right, title and interest of the IDA in Lot 1 to the City for the Sale Price is hereby approved in the form attached hereto and incorporated herein as Exhibit "A" (the "Deed"), and the President and Vice President are hereby authorized to enter into, execute and deliver and the Secretary and the Assistant Secretary are hereby authorized to attest, the Deed, such official's signature thereon being conclusive evidence of his or her approval and the IDA's approval thereof. Section 3. The proceeds from the sale of Lot 1 shall be disbursed as provided in the Financing Agreement. The IDA hereby requests and directs that UMB Bank, N.A., upon receipt of the Sale Price, cause the release of Lot 1 from the deed of trust lien on the Mortgage Property created as security for the Bonds pursuant to that certain Deed of Trust and Security Agreement, dated May 1, 2007, made by the IDA in favor of UMB Bank, N.A. Such release shall be effectuated by execution and recording of a Partial Release in substantially the form attached hereto and incorporated herein as Exhibit "B" (the "Release"). Section 4. The Deed and then the Release shall be recorded in the land records of Platte County, Missouri in the order so stated. Section 5. The President, Vice -President, Secretary, Assistant Secretary and other appropriate officers and agents of the IDA are hereby authorized to take such further actions and execute such other documents as may be necessary or desirable to carry out and comply with the intent of this Resolution. Section 6. The Resolution shall be in full force and effect from and after its adoption. ADOPTED THIS DAY OF , 2016. This Resolution was adopted at the meeting of the Board of Directors of the IDA duly called and held this date. Leland Finley, President (SEAL) ATTEST: Sarah Wagner, Secretary WA 6869617.2 IDA Resolution 2016-006 EXHIBIT A SPECIAL WARRANTY DEED THIS INDENTURE is made as of , 2016, by THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF RIVERSIDE, MISSOURI, a public corporation organized and existing under the laws of the State of Missouri, with a mailing address of 2950 NW Vivion Road, Riverside, Missouri 64150, as grantor ("GRANTOR"), to the CITY OF RIVERSIDE, MISSOURI, a fourth class city organized and existing under the laws of the State of Missouri, with a mailing address of 2950 NW Vivion Road, Riverside, Missouri 64150, as grantee ("GRANTEE"). WITNESSETH: THAT GRANTOR, in consideration of the sum of TEN AND NO/100 DOLLARS ($10.00) and other valuable consideration to it in hand paid by GRANTEE (the receipt and sufficiency of which is hereby acknowledged) does by these presents, SELL and CONVEY unto GRANTEE, its successors and assigns, the lots, tracts or parcels of land, lying, being and situate in the County of Platte and State of Missouri as described as follows: All of Lot 1of the REPLAT OF RIVERSIDE HORIZONS INDUSTRIAL VI EAST, FIRST PLAT, a subdivision in Riverside, Platte County, Missouri, EXCEPT AND FURTHER SUBJECT TO: a. The subject property is conveyed subject to that certain Declaration of covenants, restrictions, easements, charges, assessments and liens for Horizons Business Park/Planned Development District, dated February 13, 2012 and recorded in the Office of the Recorder of Deeds of Platte County, under Document No. 2012003468, as may be heretofore and hereafter amended in accordance therewith, all of the provisions of which are specifically incorporated herein by reference thereto (herein the "Declaration"), and all of which GRANTEE accepts as covenants running with the land and binding at law as well as equity upon GRANTEE and its successors in title to the subject property, and the obligations of which GRANTEE, for itself and its successor in title, agrees to observe and perform. TO HAVE AND TO HOLD the premises aforesaid, with all and singular the rights privileges, appurtenances and immunities thereto belonging or in anywise appertaining unto GRANTEE and unto its successors and assigns forever, GRANTOR hereby covenanting that said premises are free and clear from any encumbrance (except as referenced above) done or suffered by it; and that it will warrant and defend the title to said premises unto GRANTEE and unto its successors and assigns forever, against the lawful claims and demands of all persons claiming under GRANTOR. IN WITNESS WHEREOF, Grantor has caused these presents to be signed as of the day and year first above written. GRANTOR: THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF RIVERSIDE, MISSOURI WA 6869617.2 ATTEST: By: Sarah Wagner, Secretary STATE OF MISSOURI SS COUNTY OF PLATTE IDA Resolution 2016-006 By: Leland Finley, President ACKNOWLEDGEMENT ON THIS day of , 2016, before me, the undersigned, a Notary Public in and for said County and state, personally appeared Leland Finley, to me personally known, who being by me duly sworn, did say that he is the President of The Industrial Development Authority of the City of Riverside, Missouri, a public corporation duly organized and existing under the laws of the state of Missouri, and that the seal affixed to the foregoing instrument is the seal of said Authority, and that said instrument was signed and sealed in behalf of said Authority by free act and deed of said Authority. WITNESS my hand and official seal in the County and State aforesaid, the day and year first above written. Notary Public Signature (Seal) Printed or Typed Name My Commission Expires: WA 6869617.2 IDA Resolution 2016-006 EXHIBIT B PARTIAL RELEASE The City of Riverside, Missouri and The Industrial Development Authority of the City of Riverside, Missouri THIS PARTIAL RELEASE is executed on the day of , 2016, by UMB BANK, N.A., a national association duly organized and existing under the laws of the United States of America having a corporate trust office located at UMB Bank, N.A., 1010 Grand Blvd., 4th Floor, Kansas City, Missouri 64106, Attention: Corporate Trust Department, and its successors and assigns ("Mortgagee"), for the benefit of the CITY OF RIVERSIDE, MISSOURI, a fourth class municipality of the State of Missouri having its principal office located at 2950 NW Vivion Road, Riverside, Missouri 64150 ("City") and THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE City OF RIVERSIDE, MISSOURI, a public corporation organized and existing under the laws of the State of Missouri, having its principal office located at 2950 NW Vivion, Riverside, Missouri 64150 ("Mortgagor"). RECITALS: A. The mortgagor issued its $30,265,000 Revenue Bonds (Riverside Horizons Infrastructure Project - City of Riverside, Missouri) Series 2007A and $10,000,000 Revenue Bonds (Riverside Horizons Infrastructure Project - City of Riverside, Missouri) Series 2007B dated as of May 1, 2007 (the "Bonds"). B. In connection with the Bonds, Mortgagee and Mortgagor entered into a series of security documents, including (but without limitation): (i) A Financing and Cooperation Agreement dated May 1, 2007 between Mortgagee, Mortgagor, and City; recorded May 9, 2007 in Book 1103 at Page 315 in the office of the Recorder of Deeds, Platte County, Missouri ("Financing Agreement"). (ii) A Deed of Trust and Security Agreement dated May 1, 2007 whereby Mortgagor granted a deed of trust lien on the property described therein ("Mortgaged Property") to secure the payment of the Bonds, and any other amounts or obligations secured thereby; recorded May 9, 2007 in Book 1103 at Page 316 in the office of the Recorder of Deeds, Platte County, Missouri ("Mortgage"). C. Section 6.3 of the Financing Agreement set the minimum amount per square foot which must be deposited with the Mortgagee with respect to a sale of all or any portion of the Mortgaged Property at $.50 per square foot. D. The City directed that the Mortgagor sell 874,671 square feet of the Mortgaged Property, the legal description of such property being set forth on Exhibit A ("Released Property") and Mortgagor, pursuant to a Special Warranty Deed, has sold and transferred all right, title and interest in the Released Property to City. E. Mortgagee has been paid the sales price of Four Hundred Thirty -Seven Thousand Three Hundred Thirty -Five and 50/100 Dollars ($437,335.50) for the Released Property ($.50 per square foot). WA 6869617.2 IDA Resolution 2016-006 F. Pursuant to Section 6.5 of the Financing Agreement, Mortgagee shall release its lien with respect to the Released Property. AGREEMENT NOW, THEREFORE, in consideration of these Recitals, the mutual benefits and obligations accruing under this and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Mortgagee agrees as follows: 1. Mortgagee does hereby release its lien on the Released Property, the legal description of which is described on Exhibit A attached hereto and made a part hereof. This is a partial release of only the Released Property and shall not affect the remaining Mortgaged Property or the indebtedness thereof on the Mortgage or Financing Agreement. 2. Notwithstanding the release of the lien on the Released Property, the Mortgage, in the initial principal amount of $30,265,000 for the Series 2007A bonds and $10,000,000 for the Series 2007B bonds from the Mortgagor to the Mortgagee shall remain in full force and effect and any indemnities and other obligations under the Mortgage which, by their terms, survive a release of the lien on the Released Property, shall remain in full force and effect with respect to the non - released property and are not cancelled. 3. Furthermore, notwithstanding anything to the contrary contained herein, any and all liens created against the Released Property in the Mortgage and/or the Financing Agreement are released in their entirety and in all respects, Mortgagee shall have no continuing rights, interests or privileges whatsoever with respect to the Released Property, or any portion thereof, and Mortgagee shall have no rights of action, foreclosure, recourse or otherwise whatsoever with respect to or against the Released Property, or any portions(s) thereof, from and after the date hereof, including, without limitation, arising from any purported breach or default by Mortgagor or its successors or assigns of any obligations that purport to have survived the release made hereby. IN WITNESS WHEREOF, Mortgagee hereby executes this instrument to be effective as of the date first written above. MORTGAGEE: UMB BANK, N.A By: Print Name: Title: ACKNOWLEDGEMENT STATE OF MISSOURI } } SS. COUNTY OF JACKSON } WA 6869617.2 IDA Resolution 2016-006 On this, the day of , 2016, before me, the undersigned, a Notary Public appeared , who being before me duly sworn did say that s/he is a of UMB Bank, N.A., a national banking association organized under the laws of the United States of America and that the seal affixed to the foregoing instrument is the seal of said association, and that said instrument was signed and sealed on behalf of said association by authority of its board of directors, and said official acknowledged said instrument to be executed for the purposes therein stated and as the free act and deed of said association. IN WITNESS WHEREOF, I hereunder set my hand and affixed my notary seal, the day and year last above written. Notary Public My commission expires: WA 6869617.2