HomeMy WebLinkAbout2014-01-08 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 6:15 p.m. on Wednesday, January 8, 2014, 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 15, 2013
4. NEW BUSINESS
A. RESOLUTION 2014-001: A RESOLUTION APPROVING AND AUTHORIZING
EXECUTION OF THE FINAL PLAT OF RIVERSIDE HORIZONS INDUSTRIAL IV EAST.
B. RESOLUTION 2014-002: 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 IV- SUPPLEMENTAL 65 FOOT STRIP)
5. ADJOURNMENT
Posted by: Sarah Wagner
Date: January 3, 2013
Time: 3:00 p.m.
MINUTES
REGULAR MEETING
THE INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE CITY OF RIVERSIDE, MISSOURI
Tuesday, October 15, 2013
6:00 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.
Vice -President Pam Darata called the meeting to order at 6:00 p.m. Answering roll call were Harold Snoderley,
Pam Darata, Bernie Bruns and Cy Houston. Also present, Community Development Assistant Sarah Wagner.
Approval of Minutes from Cy Houston moved to approve the minutes of September 23, 2013.
September 23, 2013
Resolution 2013-012: A
Resolution Electing the
Officers of the Industrial
Development Authority of
the City of Riverside,
Missouri
Resolution 2013-013: A
Resolution Granting and
Approving the Execution of a
Proxy for Annual Meeting of
Landowners of the Riverside
Quindaro-Bend Levee
District of Platte County,
Missouri
Adjournment
Bernie Bruns seconded and the motion passed 4-0.
Vice -President Pam Darata read Resolution 2013-012: A resolution
electing the officers of the Industrial Development Authority of the City
of Riverside, Missouri.
Cy Houston moved to keep the ballot of officers the same. Those are as
follows:
President- Leland Finley
Vice -President- Pam Darata
Treasurer- Cy Houston
Secretary- Harold Snoderley
Assistant Secretary- Sarah Wagner
Harold Snoderley seconded and the motion passed 4-0.
Vice -President Pam Darata read Resolution 2013-013: A resolution
granting and approving the execution of a proxy for annual meeting of
landowners of the Riverside Quindaro-Bend Levee District of Platte
County, Missouri.
Cy Houston moved to approve the proxy appoint Ron Super, Riverside
Alderman. Seconded by Harold Snoderely. Motion passed 4-0.
Cy Houston moved to adjourn.
Harold Snoderley seconded and the meeting was adjourned at 6:02 p.m.
IDA RESOLUTION NO. 2014-001
A RESOLUTION APPROVING AND AUTHORIZING EXECUTION OF THE FINAL PLAT OF
RIVERSIDE HORIZONS INDUSTRIAL IV EAST
WHEREAS, The Industrial Development Authority of the City of Riverside, Missouri
("IDA") desires to replat certain property owned by the Authority on the east side of Horizons
Parkway in the Horizons development area in the manner shown on Exhibit A attached hereto.
NOW THEREFORE, BE IT RESOLVED BY THE INDUSTRIAL DEVELOPMENT
AUTHORITY OF THE CITY OF RIVERSIDE, MISSOURI, AS FOLLOWS:
THAT the FINAL PLAT OF RIVERSIDE HORIZONS INDUSTRIAL IV EAST in
substantially the same form as attached hereto as Exhibit "A" is hereby approved;
FURTHER THAT, the President is hereby authorized to submit an application,
execute and deliver the FINAL PLAT OF RIVERSIDE HORIZONS INDUSTRIAL IV EAST on
behalf of The Industrial Development Authority of the City of Riverside, Missouri, with such
changes as are approved by the officer executing such document, such execution being
conclusive proof of such approval, and the Assistant Secretary is authorized to attest thereto;
FURTHER THAT, any and all actions taken in connection with the approval and
authorization granted herein prior to passage and approval of this Resolution are hereby
ratified and confirmed; and
FURTHER THAT, the President and Assistant Secretary are hereby authorized to
execute such additional documents and take such actions as are necessary or desirable to
effectuate the intent of this Resolution.
PASSED AND ADOPTED by the Industrial Development Authority and APPROVED
by the President of the Industrial Development Authority of the City of Riverside, Missouri, the
8th day of January, 2014.
Leland Finley, President
ATTEST:
Sarah Wagner, Assistant Secretary
IDA RESOLUTION NO. 2014-001
EXHIBIT A
FINAL PLAT OF RIVERSIDE HORIZONS INDUSTRIAL IV EAST
0 50' 100'
Metro Control
Station PL -66
(See Note)
FINAL PLAT
RIVERSIDE HORIZONS INDUSTRIAL IV EAST
POINT OF BEGINNING
/
Bk. 1208, Pg. 368
10' KCPL/E (See Detail)
..15.-3S' . 7 k
l
C,o/
`"L \i �Bk 12F
\ 08
P9 369
9k 4-6P4
1208 F
P9 369
6Sp6•
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10.„co-
Cp4/E'\g391sF3
S48'00'22"E 7.87'
S10.06'48"E 5.96'
S09.02'56'W 5.92'
916'01'49'W 2.89'
KCPL/E DETAIL
SW. CORNER, LOT 5
LOCATION MAP
SECTIONS 5-50-33
& 8-50-33
Scale 1" = 2000'
NOTES:
LOT 5
666,919 S.F.
15.310 Ac.
Bk
12p6:�C/ F
p9 39
A REPEAT OF LOTS 5, 6 AND 7, RIVERSIDE HORIZONS EAST FIRST PLAT, AND PART OF
VACATED DOMAIN STREET, ALL IN THE CITY OF RIVERSIDE, PLATTE COUNTY, MISSOURI
DESCRIPTION
`S13.3, •1:*
17S 17S s
TRFFT
Basis of Bearings: platted, S68°05'05"E, along the North line of Lot 5, RIVERSIDE
HORIZONS EAST FIRST PLAT.
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:
Perimeter: 5520.700'
Error Closure: 0.004'
Precision 1: 1,380,175
Course: S68°05'05.50"E
Flood Plain Note: According to "FIRM" Map Number 290296 0001 B, revised June 4,
1987, and revised by Letter of Map Revision (LOMAR), Case No. 04-07-A556P, Effective
date August 31, 2006, this tract is located in "OTHER AREAS", Zone "X", areas
determined to be outside the 500 -year floodplain.
13
4/68
Rp
STRFF
LEGEND
7-
• FOUND 1/2" X 24" REBAR WITH
DM2 MO CAP
O SET 5/8" X 24" REBAR WITH
ALUMINUM DM2 MO CAP
O SET 1/2" X 24" REBAR WITH
DM2 MO CAP
A/E ACCESS EASEMENT
SS/E SANITARY SEWER EASEMENT
LOT 6
619,272 S.F.
14.217 Ac.
ek
12p8
,°9
Y70. 3,5_,
369
co
All of Lots 5, 6 and 7, RIVERSIDE HORIZONS EAST FIRST PLAT, and part of proposed vacated Domain Street, all in
the City of Riverside, Platte County, Missouri, more particularly described as follows:
Beginning at the Northwest comer of said Lot 5, said point being on the Southerly right-of-way line of 43rd Street, as it now
exists; thence coincident with said Southerly right-of-way line and its Southeasterly prolongation, South 68°05'05" East,
1,888.56 feet to a point on the Easterly right-of-way line of said Domain Street, as it now exists; thence coincident with said
Easterly right-of-way line, South 21°54'55" West, 871.79 feet to a point on the Southeasterly prolongation of the Northerly
right-of-way line of 41st Street, as it now exists; thence coincident with said Northerly right-of-way line and its
Southeasterly prolongation, North 68°05'05" West, 1,888.56 feet to the Southwest corner of said Lot 5, RIVERSIDE
HORIZONS EAST FIRST PLAT; thence coincident with the Northwest line of said Lot 5, North 21°54'55" East, 871.79'
feet to the Point of Beginning, containing 1,646,428 square feet, or 37.797 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 "RIVERSIDE HORIZONS
INDUSTRIAL IV 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 for a
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.
LOT 7
360,236 S.F.
8.270 Ac.
N5534'31 "E
43.06'
47321
N79 59'41"E
23.17'
lip SWE,
NOI5SNSr SS7
PLKAT
40'
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:
December 4, 2013
EXECUTION
IN TESTIMONY WHEREOF, the undersigned proprietor has caused this instrument to be executed
this day of , 2013.
THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF RIVERSIDE, MISSOURI
Attest:
Leland Finley, President Sarah Wagner, Asst. Secretary
STATE OF MISSOURI )
) SS
COUNTY OF PLATTE )
BE IT REMEMBERED, that on this day of , 2013, 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
APPROVALS
My Commission Expires:
This is to certify that the within PLAT of "RIVERSIDE HORIZONS INDUSTRIAL IV EAST" was submitted to and
approved by the City of Riverside, Missouri, this day of , 2013.
BY ORDINANCE NO.:
BY:
BY:
Kathleen Rose, Mayor
Robin Littrell, City Clerk
DATE:
BY:
Al Bowman, Chairman of Planning Commission
DATE:
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.
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Michael Schmidtberger, Missouri LS 2000143910
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RIVERSIDE HORIZONS INDUSTRIAL IV EAST
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11490 Strang Line Road 1 Lenexa, Kansas 66215 1 (913) 317-9500 1 www.reninfrastructure.com
IDA Resolution 2014-002
IDA
RESOLUTION NO. 2014-002
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 IV — SUPPLEMENTAL 65 FOOT STRIP).
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 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 56,666 +/- square feet, the
legal description of such portion being:
A part of Lot 6, RIVERSIDE HORIZONS EAST FIRST PLAT, a subdivision in the
City of Riverside, Platte County, Missouri, described as follows:
The Northwest 65.00 feet of said Lot 6, containing 56,666 square feet, or 1.301
acres, more or less (the "Sale Property").
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 Sale Property to
the City at the price of Twenty -Eight Thousand Three Hundred Thirty -Three and 00/100 Dollars
($28,333.00) (the "Sale Price") is hereby approved.
Section 2. The Special Warranty Deed conveying all right, title and interest of the IDA in
the Sale Property 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.
4748563_1
IDA Resolution 2014-002
Section 3. The proceeds from the sale of the Sale Property 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 the Sale Property from the deed of
trust lien on the Mortgaged 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, 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 8th DAY OF JANUARY, 2014.
This Resolution was adopted at the meeting of the Board of Directors of the IDA duly
called and held this date.
By:
Name:
Title:
(SEAL)
ATTEST:
Sarah Wagner, Secretary
4748563_1
EXHIBIT A
SPECIAL WARRANTY DEED
4748563_1
IDA Resolution 2014-002
EXHIBIT B
PARTIAL RELEASE
4748563_1
IDA Resolution 2014-002
For recording purposes only:
COVER PAGE FOR RECORDING
1. Title of Document: Special Warranty Deed
2. Date of Document: January , 2014
3. Grantor Name and Address: THE INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE CITY OF RIVERSIDE, MISSOURI
2950 NW Vivion Road
Riverside, Missouri 64150
4. Grantee Name and Address:
CITY OF RIVERSIDE, MISSOURI
2950 NW Vivion Road
Riverside, Missouri 64150
5. Legal Description/Address: On Page 1
6. Book and Page Reference: N/A
PLEASE RETURN RECORDED DOCUMENT TO:
City Administrator
City of Riverside, Missouri
2950 NW Vivion Road
Riverside, Missouri 64150
SPECIAL WARRANTY DEED
THIS INDENTURE is made as of January 2014 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:
A part of Lot 6, RIVERSIDE HORIZONS EAST FIRST PLAT, a subdivision in
the City of Riverside, Platte County, Missouri, described as follows:
The Northwest 65.00 feet of said Lot 6, containing 56,666 square feet, or 1.301
acres, more or less.
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.
1
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
By:
Name:
Title:
ATTEST:
By:
Sarah Wagner, Secretary
ACKNOWLEDGEMENT
STATE OF MISSOURI
) SS
COUNTY OF PLATTE
ON THIS day of January, 2014, before me, the undersigned, a Notary Public in and
for said County and state, personally appeared , to me personally known, who
being by me duly sworn, did say that he/she is the 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.
(Seal)
My Commission Expires:
2
Notary Public Signature
Printed or Typed Name
Title of Document: PARTIAL RELEASE
Date of Document: January , 2014
Grantor:
Grantee:
UMB BANK, N.A.
1010 Grand Blvd., 4th Floor
Kansas City, Missouri, 64106
THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF
RIVERSIDE, MISSOURI
2950 NW Vivion Road
Riverside, Missouri 64150
and
THE CITY OF RIVERSIDE, MISSOURI
2950 NW Vivion Road
Riverside, Missouri 64150
Legal Description: See Exhibit A of Partial Release
Reference:
BK1103PG315 BK1103PG316
Return Recorded Document to:
City of Riverside
Attn: Greg Mills
2950 NW Vivion Rd
Riverside, MO 64150
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 January, 2014 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 Road, 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 a Page 315 in the
office of the Recorder of Deeds, Platte County, Missouri ("Financing Agreement"); and
(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 56,666 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 Twenty -Eight Thousand Three
Hundred Thirty -Three and 00/100 Dollars ($28,333.00) for the Released Property ($.50 per
square foot).
2
F. Pursuant to Section 6.5 of the Financing Agreement, Mortgagee shall release its
lien with respect to the Released Property.
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:
AGREEMENT
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:
Name: Wendee I. Peres
Title: Vice -President
3
ACKNOWLEDGEMENT
STATE OF MISSOURI }
} SS.
COUNTY OF JACKSON }
On this, the day of January 2014, before me, the undersigned, a Notary Public
appeared Wendee I. Peres, who being before me duly sworn did say that she is a Vice
President 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.
My commission expires:
4
Notary Public
Exhibit A
LEGAL DESCRIPTION OF PROPERTY
Part of Lot 6, RIVERSIDE HORIZONS EAST FIRST PLAT, a subdivision in Riverside, Platte
County, Missouri, according to the recorded plat thereof, recorded March 9, 2012, as Document
No. 2012003467, in Plat Book 21 at Page 10, described as follows:
The Northwest 65.00 feet of said Lot 6, containing 56,666 square feet, or 1.301 acres, more or
less.
5