|
ASSIGNMENT OF MORTGAGE, ASSIGNMENT OF LEASES AND RENTS
<br />AND FIXTURE FINANCING STATEMENT
<br />KNOW ALL PERSONS BY THESE PRESENTS that THE HOUSING AND
<br />REDEVELOPMENT AUTHORITY OF THE CITY OF SAINT ANTHONY, a public body
<br />corporate and politic organized and existing under the laws of the State of Minnesota
<br />("Assignor"), whose mailing address is 3301 Silver Lake Boulevard, St. Anthony, Minnesota,
<br />55418, Attention: Executive Director, as of this 14th day of April, 2009, in consideration of the
<br />sum of $1.00 and other good and valuable consideration, including the Assignee entering into
<br />that certain Second Amendment to and Confirmation of Loan and Security Agreement dated as
<br />of April 1, 2009 (the "Amendment"), between the City of St. Anthony, Minnesota (the "City"),
<br />and the Assignee, and the forbearance by the Assignee against the City, which Amendment
<br />materially benefits Assignor, the receipt and sufficiency of which are hereby acknowledged, does
<br />hereby sell, assign, transfer and set over to FANNIE MAE, a corporation organized and existing
<br />under the laws of the United States of America ("Assignee"), at 3900 Wisconsin Avenue, N.W.,
<br />Washington, DC 20016 (or at such other place in the United States of America as Fannie Mae
<br />may designate), its successors and assigns that certain Mortgage, Assignment of Leases and
<br />Rents and Fixture Financing Statement executed by APACHE REDEVELOPMENT, LLC
<br />("Borrower"), to Assignor dated September 10, 2004, filed for record in the office of the County
<br />Recorder for Ramsey County, Minnesota (the "Ramsey County Recorder's Office"), on October
<br />20, 2004, as Document No. 3801280, as amended by that certain First Amendment to Mortgage,
<br />Assignment of Leases and Rents and Fixture Financing Statement dated February 12, 2008, and
<br />filed for record in the Ramsey County Recorder's Office on March 5, 2008, as Document No.
<br />4083151, and that certain Second Amendment to Mortgage, Assignment of Leases and Rents and
<br />Fixture Financing Statement dated , 2009 and filed in the Ramsey County
<br />Recorder's Office on , 2009 as Document No. (collectively, the
<br />"Mortgage"), together with all rights and interests in the land therein described, in the
<br />Redevelopment Agreement (as defined in the Mortgage) and obligations therein specified, and in
<br />the debt thereby secured; and does hereby covenant with the Assignee, its successors and
<br />assigns, that it has good right to sell, assign and transfer the same.
<br />The Assignor hereby represents to and covenants with the Assignee that no other assignment of
<br />Assignor's interest in the Mortgage has been made by the Assignor or the City.
<br />A foreclosure of the Assignee's rights under this assignment shall be conducted in the same
<br />manner as the foreclosure of mechanics' liens as described in Minnesota Statutes Chapter 514 or,
<br />if this Assignment is deemed to be an interest in personal property governed by Article 9 of the
<br />
|