Exhibit 4.4.2
|
|
200900008285
|
|
|
Filed
for Record in
|
|
|
TAZEWELL COUNTY, IL
|
|
|
ROBERT
LUTZ
|
|
|
04-16-2009
At 02:38 pm.
|
|
|
MORTGAGE
|
43.75
|
|
|
RHSP
Surcharge
|
10.00
|
Space Above This Line For Recording Data
This
instrument was prepared by
When
recorded return to Loan Department, Exchange National Bank & Trust
Co., 600 Commercial Street, PO Box 189, Atchison, KS 66002
MORTGAGE
(With Future Advance Clause)
DATE
AND PARTIES. The date of
this Mortgage (Security Instrument) is APRIL 15, 2009. The parties and their addresses are:
MORTGAGOR:
MGP INGREDIENTS, INC
A Kansas Corporation
P O BOX 130
ATCHISON, KS 66002
LENDER:
EXCHANGE NATIONAL SANK & TRUST CO.
Organized and existing under the laws of Kansas
600 COMMERCIAL ST
ATCHISON, Kansas 66002
1. CONVEYANCE. For good and valuable consideration, the
receipt and sufficiency of which is acknowledged, and to secure the Secured
Debts and Mortgagor’s performance under this Security Instrument, Mortgagor grants,
bargains, sells, conveys, mortgages and warrants to Lender, the following
described property:
SEE EXHIBIT A
The property is located in
Tazewell County at , PEKIN, Illinois.
Together with all rights,
easements, appurtenances, royalties, mineral rights, oil and gas rights, all
water and riparian rights, wells, ditches and water stock, crops, timber, all
diversion payments or third party payments made to crop producers and all
existing and future improvements, structures, fixtures, and replacements that
may now, or at any time in the future, be part of the real estate described
(all referred to as Property). This Security
Instrument will remain in effect until the Secured Debts and all underlying
agreements have been terminated in writing by Lender.
MGP INGREDIENTS, INC
Illinois Mortgage
KS/4CHRISTIN00000000000111049041009N
|
|
© 1996 Bankers Systems, Inc., St. Cloud, MN 
|
|
Initials _______
|
1
2. MAXIMUM OBLIGATION LIMIT. The total principal
amount secured by this Security Instrument at any one time will not exceed
$2,800,000.00. This limitation of amount
does not include interest, attorneys’ fees and other fees and charges validly
made pursuant to this Security Instrument.
Also, this limitation does not apply to advances made under the terms of
this Security Instrument to protect Lender’s security and to perform any of the
covenants contained in this Security Instrument.
3. SECURED DEBTS AND FUTURE ADVANCES. The term “Secured
Debts” includes and this Security Instrument will secure each of the following:
A. Specific Debts. The following debts
and all extensions, renewals, refinancings, modifications and
replacements. A promissory note or other
agreement, dated April 15, 2009, from Mortgagor to Lender, with a loan
amount of $2,800,000.00, with an interest rate of 7.0 percent per year and
maturing on September 3, 2009. One
or more of the debts secured by this Security Instrument contains a future
advance provision.
B. All Debts. All present and future debts from Mortgagor
to Lender, even if this Security Instrument is not specifically referenced, or
if the future debt is unrelated to or of a different type than this debt. If more than one person signs this Security
Instrument, each agrees that it will secure debts incurred either individually
or with others who may not sign this Security Instrument. Nothing in this Security Instrument
constitutes a commitment to make additional or future loans or advances. Any such commitment must be in writing. In the event that Lender fails to provide any
required notice of the right of rescission, Lender waives any subsequent
security interest in the Mortgagor’s principal dwelling that is created by this
Security Instrument. This Security
Instrument will not secure any debt for which a non-possessory, non-purchase
money security interest is created in “household goods” in connection with a “consumer
loan,” as those terms are defined by federal law governing unfair and deceptive
credit practices. This Security Instrument
will not secure any debt for which a security interest is created in “margin
stock” and Lender does not obtain a “statement of purpose,” as defined and
required by federal law governing securities.
C. Future Advances. All future advances
from Lender to Mortgagor or other future obligations of Mortgagor to Lender
under any promissory note, contract, guaranty, or other evidence of debt
executed by Mortgagor in favor of Lender after this Security Instrument whether
or not this Security Instrument is specifically referenced, and whether or not
the purpose of the future advances or future obligations is related to the
purpose of the Secured Debts. If more
than one person signs this Security Instrument, each Mortgagor agrees that this
Security Instrument will secure all future advances and future obligations that
are given to or incurred by any one or more Mortgagor, or any one or more
Mortgagor and others. All future
advances and other future obligations are secured by this Security Instrument
even though all or part may not yet be advanced. All future advances and other future
obligations are secured as if made on the date of this Security
Instrument. Nothing in this Security
Instrument shall constitute a commitment to make additional or future loans or
advances in any amount. Any such
commitment must be agreed to in a separate writing. In the event that Lender fails to provide any
required notice of the right of rescission, Lender waives any subsequent
security interest in the Mortgagor’s principal dwelling that is created by this
Security Instrument.
D. Sums Advanced. All sums advanced
and expenses incurred by Lender under the terms of this Security Instrument.
4. PAYMENTS. Mortgagor agrees that all payments under the
Secured Debts will be paid when due and in accordance with the terms of the
Secured Debts and this Security Instrument.
5. PRIOR SECURITY INTERESTS. With regard to any
other mortgage, deed of trust, security agreement or other lien document that
created a prior security interest or encumbrance on the Property, Mortgagor
agrees:
A. To make all payments when due and to perform or comply with
all covenants.
B. To promptly deliver to Lender any notices that Mortgagor
receives from the holder.
C. Not to allow any modification or extension of, nor to
request any future advances under any note or agreement secured by the lien
document without Lender’s prior written consent.
Initials _______
2
6. CLAIMS AGAINST TITLE. Mortgagor will pay
all taxes, assessments, liens, encumbrances, lease payments, ground rents,
utilities, and other charges relating to the Property when due. Lender may require Mortgagor to provide to
Lender copies of all notices that such amounts are due and the receipts
evidencing Mortgagor’s payment.
Mortgagor will defend title to the Property against any claims that
would impair the lien of this Security Instrument. Mortgagor agrees to assign to Lender, as
requested by Lender, any rights, claims or defenses Mortgagor may have against
parties who supply labor or materials to maintain or improve the Property.
7. DUE ON SALE OR ENCUMBRANCE. Lender may, at its
option, declare the entire balance of the Secured Debt to be immediately due
and payable upon the creation of, or contract for the creation of, any lien,
encumbrance, transfer or sale of all or any part of the Property. This right is subject to the restrictions
imposed by federal law (12 C.F.R. 591), as applicable.
8. TRANSFER OF AN INTEREST IN THE MORTGAGOR. If Mortgagor is an
entity other than a natural person (such as a corporation or other
organization), Lender may demand immediate payment if:
A. A beneficial interest in Mortgagor is sold or transferred.
B. There is a change in either the identity or number of
members of a partnership or similar entity.
C. There is a change in ownership of more than 25 percent of
the voting stock of a corporation or similar entity.
However, Lender may not
demand payment in the above situations if it is prohibited by law as of the
date of this Security Instrument.
9. WARRANTIES AND REPRESENTATIONS. Mortgagor makes to
Lender the following warranties and representations which will continue as long
as this Security Instrument is in effect:
A. Power. Mortgagor is duly organized, and validly
existing and in good standing in all jurisdictions in which Mortgagor
operates. Mortgagor has the power and
authority to enter into this transaction and to carry on Mortgagor’s business
or activity as it is now being conducted and, as applicable, is qualified to do
so in each jurisdiction in which Mortgagor operates.
B. Authority. The execution, delivery and performance of
this Security Instrument and the obligation evidenced by this Security
Instrument are within Mortgagor’s powers, have been duly authorized, have
received all necessary governmental approval, will not violate any provision of
law, or order of court or governmental agency, and will not violate any
agreement to which Mortgagor is a party or to which Mortgagor is or any of
Mortgagor’s property is subject.
C. Name and Place of Business. Other than
previously disclosed in writing to Lender, Mortgagor has not changed Mortgagor’s
name or principal place of business within the last 10 years and has not used
any other trade or fictitious name.
Without Lender’s prior written consent, Mortgagor does not and will not
use any other name and will preserve Mortgagor’s existing name, trade names and
franchises.
10. PROPERTY CONDITION, ALTERATIONS AND
INSPECTION. Mortgagor will keep the Property in good
condition and make all repairs that are reasonably necessary. Mortgagor will not commit or allow any waste,
impairment, or deterioration of the Property.
Mortgagor will keep the Property free of noxious weeds and grasses. Mortgagor agrees that the nature of the
occupancy and use will not substantially change without Lender’s prior written
consent. Mortgagor will not permit any
change in any license, restrictive covenant or easement without Lender’s prior
written consent. Mortgagor will notify
Lender of all demands, proceedings, claims, and actions against Mortgagor, and
of any loss or damage to the Property.
No portion of the Property
will be removed, demolished or materially altered without Lender’s prior
written consent except that Mortgagor has the right to remove items of personal
property comprising a part of the Property that become worn or obsolete,
provided that such personal property is replaced with other personal property
at least equal in value to the replaced personal property, free from any title
retention device, security agreement or other encumbrance. Such replacement of personal property will be
deemed subject to the security interest created by this Security Instrument. Mortgagor will not partition or subdivide the
Property without Lender’s prior written consent.
Lender or Lender’s agents
may, at Lender’s option, enter the Property at any reasonable time for the
purpose of inspecting the Property.
Lender will give Mortgagor notice at the time of or before an inspection
specifying a reasonable purpose for the inspection. Any inspection of the Property will be
entirely for Lender’s benefit and Mortgagor will in no way rely on Lender’s
inspection.
Initials _______
3
11. AUTHORITY TO PERFORM. If Mortgagor fails
to perform any duty or any of the covenants contained in this Security
Instrument, Lender may, without notice, perform or cause them to be
performed. Mortgagor appoints Lender as
attorney in fact to sign Mortgagor’s name or pay any amount necessary for
performance. Lender’s right to perform
for Mortgagor will not create an obligation to perform, and Lender’s failure to
perform will not preclude Lender from exercising any of Lender’s other rights
under the law or this Security Instrument.
If any construction on the Property is discontinued or not carried on in
a reasonable manner, Lender may take all steps necessary to protect Lender’s
security interest in the Property, including completion of the construction.
12. ASSIGNMENT OF LEASES AND RENTS. Mortgagor assigns,
grants, bargains, conveys, mortgages and warrants to Lender as additional
security all the right, title and interest in the following (Property).
A. Existing or future leases, subleases, licenses, guaranties
and any other written or verbal agreements for the use and occupancy of the
Property, including but not limited to any extensions, renewals, modifications
or replacements (Leases).
B. Rents, issues and profits, including but not limited to security
deposits, minimum rents, percentage rents, additional rents, common area
maintenance charges, parking charges, real estate taxes, other applicable
taxes, insurance premium contributions, liquidated damages following default,
cancellation premiums, “loss of rents” insurance, guest receipts, revenues,
royalties, proceeds, bonuses, accounts, contract rights, general intangibles,
and all rights and claims which Mortgagor may have that in any way pertain to
or are on account of the use or occupancy of the whole or any part of the
Property (Rents).
In the event any item listed
as Leases or Rents is determined to be personal property, this Assignment will
also be regarded as a security agreement.
Mortgagor will promptly provide Lender with copies of the Leases and
will certify these Leases are true and correct copies. The existing Leases will be provided on
execution of the Assignment, and all future Leases and any other information
with respect to these Leases will be provided immediately after they are
executed. Mortgagor may collect,
receive, enjoy and use the Rents so long as Mortgagor is not in default. Mortgagor will not collect in advance any
Rents due in future lease periods, unless Mortgagor first obtains Lender’s
written consent. Upon default, Mortgagor
will receive any Rents in trust for Lender and Mortgagor will not commingle the
Rents with any other funds. When Lender
so directs, Mortgagor will endorse and deliver any payments of Rents from the
Property to Lender. Amounts collected
will be applied at Lender’s discretion to the Secured Debts, the costs of
managing, protecting and preserving the Property, and other necessary
expenses. Mortgagor agrees that this
Security Instrument is immediately effective between Mortgagor and Lender and
effective as to third parties on the recording of this Assignment. As long as this Assignment is in effect,
Mortgagor warrants and represents that no default exists under the Leases, and
the parties subject to the Leases have not violated any applicable law on
leases, licenses and landlords and tenants.
Mortgagor, at its sole cost and expense, will keep, observe and perform,
and require all other parties to the Leases to comply with the Leases and any
applicable law. If Mortgagor or any
party to the Lease defaults or fails to observe any applicable law, Mortgagor
will promptly notify Lender. If
Mortgagor neglects or refuses to enforce compliance with the terms of the
Leases, then Lender may, at Lender’s option, enforce compliance. Mortgagor will not sublet, modify, extend,
cancel, or otherwise alter the Leases, or accept the surrender of the Property
covered by the Leases (unless the Leases so require) without Lender’s
consent. Mortgagor will not assign,
compromise, subordinate or encumber the Leases and Rents without Lender’s prior
written consent. Lender does not assume
or become liable for the Property’s maintenance, depreciation, or other losses
or damages when Lender acts to manage, protect or preserve the Property, except
for losses and damages due to Lender’s gross negligence or intentional
torts. Otherwise, Mortgagor will
indemnify Lender and hold Lender harmless for all liability, loss or damage
that Lender may incur when Lender opts to exercise any of its remedies against
any party obligated under the Leases.
13. DEFAULT. Mortgagor will be in default if any of the
following occur:
A. Payments. Mortgagor fails to make a payment in full
when due.
B. Insolvency or Bankruptcy. The death,
dissolution or insolvency of, appointment of a receiver by or on behalf of,
application of any debtor relief law, the assignment for the benefit of
creditors by or on behalf of, the voluntary or involuntary termination of
existence by, or the commencement of any proceeding under any present or future
federal or state insolvency, bankruptcy, reorganization, composition or debtor
relief law by or against Mortgagor, Borrower, or any co-signer, endorser,
surety or guarantor of this Security Instrument or any other obligations
Borrower has with Lender.
Initials _______
4
C. Business Termination. Mortgagor merges,
dissolves, reorganizes, ends its business or existence, or a partner or
majority owner dies or is declared legally incompetent.
D. Failure to Perform. Mortgagor fails to
perform any condition or to keep any promise or covenant of this Security
Instrument.
E. Other Documents. A default occurs
under the terms of any other document relating to the Secured Debts.
F. Other Agreements. Mortgagor is in
default on any other debt or agreement Mortgagor has with Lender.
G. Misrepresentation. Mortgagor makes any
verbal or written statement or provides any financial information that is
untrue, inaccurate, or conceals a material fact at the time it is made or
provided.
H. Judgment. Mortgagor fails to satisfy or appeal any
judgment against Mortgagor.
I. Forfeiture. The Property is used in a manner or for a
purpose that threatens confiscation by a legal authority.
J. Name Change. Mortgagor changes Mortgagor’s name or assumes
an additional name without notifying Lender before making such a change.
K. Property Transfer. Mortgagor transfers
all or a substantial part of Mortgagor’s money or property. This condition of default, as it relates to
the transfer of the Property, is subject to the restrictions contained in the
DUE ON SALE section.
L. Property Value. Lender determines in
good faith that the value of the Property has declined or is impaired.
M. Material Change. Without first
notifying Lender, there is a material change in Mortgagor’s business, including
ownership, management, and financial conditions.
N. Insecurity. Lender determines in good faith that a
material adverse change has occurred in Mortgagor’s financial condition from
the conditions set forth in Mortgagor’s most recent financial statement before
the date of this Security Instrument or that the prospect for payment or
performance of the Secured Debts is impaired for any reason.
14. REMEDIES. On or after default, Lender may use any and
all remedies Lender has under state or federal law or in any document relating
to the Secured Debts. Any amounts
advanced on Mortgagor’s behalf will be immediately due and may be added to the
balance owing under the Secured Debts.
Lender may make a claim for any and all insurance benefits or refunds
that may be available on Mortgagor’s default.
Subject to any right to
cure, required time schedules or any other notice rights Mortgagor may have
under federal and state law, Lender may make all or any part of the amount
owing by the terms of the Secured Debts immediately due and foreclose this
Security Instrument in a manner provided by law upon the occurrence of a
default or anytime thereafter.
Upon default, Lender will
have the right, without declaring the whole indebtedness due and payable, to
foreclose against all or any part of the Property and will have the right to
possession provided by law. This
Security Instrument will continue as a lien on any part of the Property not
sold on foreclosure.
All remedies are distinct,
cumulative and not exclusive, and the Lender is entitled to all remedies
provided at law or equity, whether or not expressly set forth. The acceptance by Lender of any sum in
payment or partial payment on the Secured Debts after the balance is due or is
accelerated or after foreclosure proceedings are filed will not constitute a
waiver of Lender’s right to require full and complete cure of any existing
default. By not exercising any remedy,
Lender does not waive Lender’s right to later consider the event a default if
it continues or happens again.
15. COLLECTION EXPENSES AND ATTORNEYS’ FEES. On or after Default,
to the extent permitted by law, Mortgagor agrees to pay all expenses of
collection, enforcement or protection of Lender’s rights and remedies under
this Security Instrument or any other document relating to the Secured
Debts. Mortgagor agrees to pay expenses
for Lender to inspect and preserve the Property and for any recordation costs
of releasing the Property from this Security Instrument. Expenses include reasonable attorneys’
fees. These expenses are due and payable
immediately. If not paid immediately,
these expenses will bear interest from the date of payment until paid in full
at the highest interest rate in effect as provided for in the terms of the
Secured Debts. In addition, to the
extent permitted by the United
Initials _______
5
States
Bankruptcy Code, Mortgagor agrees to pay the reasonable attorneys’ fees
incurred by Lender to protect Lender’s rights and interests in connection with
any bankruptcy proceedings initiated by or against Mortgagor.
16. ENVIRONMENTAL LAWS AND HAZARDOUS
SUBSTANCES. As used in this section, (1) Environmental
Law means, without limitation, the Comprehensive Environmental Response,
Compensation and Liability Act (CERCLA, 42 U.S.C. 9601 et seq.), all other
federal, state and local laws, regulations, ordinances, court orders, attorney
general opinions or interpretive letters concerning the public health, safety,
welfare, environment or a hazardous substance; and (2) Hazardous Substance
means any toxic, radioactive or hazardous material, waste, pollutant or
contaminant which has characteristics which render the substance dangerous or
potentially dangerous to the public health, safety, welfare or
environment. The term includes, without
limitation, any substances defined as “hazardous material,” “toxic substance,” “hazardous
waste,” “hazardous substance,” or “regulated substance” under any Environmental
Law.
Mortgagor represents,
warrants and agrees that:
A. Except as previously disclosed and acknowledged in writing
to Lender, no Hazardous Substance has been, is, or will be located,
transported, manufactured, treated, refined, or handled by any person on, under
or about the Property, except in the ordinary course of business and in strict
compliance with all applicable Environmental Law.
B. Except as previously disclosed and acknowledged in writing
to Lender, Mortgagor has not and will not cause, contribute to, or permit the
release of any Hazardous Substance on the Property.
C. Mortgagor will immediately notify Lender if (1) a
release or threatened release of Hazardous Substance occurs on, under or about
the Property or migrates or threatens to migrate from nearby property; or (2) there
is a violation of any Environmental Law concerning the Property. In such an event, Mortgagor will take all
necessary remedial action in accordance with Environmental Law.
D. Except as previously disclosed and acknowledged in writing
to Lender, Mortgagor has no knowledge of or reason to believe there is any
pending or threatened investigation, claim, or proceeding of any kind relating
to (1) any Hazardous Substance located on, under or about the Property; or
(2) any violation by Mortgagor or any tenant of any Environmental
Law. Mortgagor will immediately notify
Lender in writing as soon as Mortgagor has reason to believe there is any such
pending or threatened investigation, claim, or proceeding. In such an event, Lender has the right, but
not the obligation, to participate in any such proceeding including the right
to receive copies of any documents relating to such proceedings.
E. Except as previously disclosed and acknowledged in writing
to Lender, Mortgagor and every tenant have been, are and will remain in full
compliance with any applicable Environmental Law.
F. Except as previously disclosed and acknowledged in writing
to Lender, there are no underground storage tanks, private dumps or open wells
located on or under the Property and no such tank, dump or well will be added
unless Lender first consents in writing.
G. Mortgagor will regularly inspect the Property, monitor the
activities and operations on the Property, and confirm that all permits,
licenses or approvals required by any applicable Environmental Law are obtained
and complied with.
H. Mortgagor will permit, or cause any tenant to permit, Lender
or Lender’s agent to enter and inspect the Property and review all records at
any reasonable time to determine (1) the existence, location and nature of
any Hazardous Substance on, under or about the Property; (2) the
existence, location, nature, and magnitude of any Hazardous Substance that has
been released on, under or about the Property; or (3) whether or not
Mortgagor and any tenant are in compliance with applicable Environmental Law.
I. Upon Lender’s request and at any time, Mortgagor agrees, at
Mortgagor’s expense, to engage a qualified environmental engineer to prepare an
environmental audit of the Property and to submit the results of such audit to
Lender. The choice of the environmental
engineer who will perform such audit is subject to Lender’s approval.
J. Lender has the right, but not the obligation, to perform any
of Mortgagor’s obligations under this section at Mortgagor’s expense.
K. As a consequence of any breach of any representation,
warranty or promise made in this section, (1) Mortgagor will indemnify and
hold Lender and Lender’s successors or assigns harmless from and against all
losses, claims, demands, liabilities, damages, cleanup, response and
remediation costs, penalties and expenses, including without limitation all
costs of litigation and attorneys’ fees, which Lender and Lender’s successors
or assigns may
Initials _______
6
sustain; and (2) at Lender’s
discretion, Lender may release this Security Instrument and in return Mortgagor
will provide Lender with collateral of at least equal value to the Property
without prejudice to any of Lender’s rights under this Security Instrument.
L. Notwithstanding any of the language contained in this
Security Instrument to the contrary, the terms of this section will survive any
foreclosure or satisfaction of this Security Instrument regardless of any
passage of title to Lender or any disposition by Lender of any or all of the
Property. Any claims and defenses to the
contrary are hereby waived.
17. CONDEMNATION. Mortgagor will give
Lender prompt notice of any pending or threatened action by private or public
entities to purchase or take any or all of the Property through condemnation,
eminent domain, or any other means.
Mortgagor authorizes Lender to intervene in Mortgagor’s name in any of
the above described actions or claims.
Mortgagor assigns to Lender the proceeds of any award or claim for
damages connected with a condemnation or other taking of all or any part of the
Property. Such proceeds will be
considered payments and will be applied as provided in this Security
Instrument. This assignment of proceeds
is subject to the terms of any prior mortgage, deed of trust, security
agreement or other lien document.
18. INSURANCE. Mortgagor agrees to keep the Property insured
against the risks reasonably associated with the Property. Mortgagor will maintain this insurance in the
amounts Lender requires. This insurance
will last until the Property is released from this Security Instrument. What Lender requires pursuant to the
preceding two sentences can change during the term of the Secured Debts. Mortgagor may choose the insurance company,
subject to Lender’s approval, which will not be unreasonably withheld.
All insurance policies and
renewals will include a standard “mortgage clause” and, where applicable, “loss
payee clause.” If required by Lender,
Mortgagor agrees to maintain comprehensive general liability insurance and
rental loss or business interruption insurance in amounts and under policies
acceptable to Lender. The comprehensive
general liability insurance must name Lender as an additional insured. The rental loss or business interruption
insurance must be in an amount equal to at least coverage of one year’s debt
service, and required escrow account deposits (if agreed to separately in
writing).
Mortgagor will give Lender
and the insurance company immediate notice of any loss. All insurance proceeds will be applied to
restoration or repair of the Property or to the Secured Debts, at Lender’s
option. If Lender acquires the Property
in damaged condition, Mortgagor’s rights to any insurance policies and proceeds
will pass to Lender to the extent of the Secured Debts.
Mortgagor will immediately
notify Lender of cancellation or termination of insurance. If Mortgagor fails to keep the Property
insured, Lender may obtain insurance to protect Lender’s interest in the
Property and Mortgagor will pay for the insurance on Lender’s demand. Lender may demand that Mortgagor pay for the
insurance all at once, or Lender may add the insurance premiums to the balance
of the Secured Debts and charge interest on it at the rate that applies to the
Secured Debts. This insurance may
include coverages not originally required of Mortgagor, may be written by a
company other than one Mortgagor would choose, and may be written at a higher
rate than Mortgagor could obtain if Mortgagor purchased the insurance. Mortgagor acknowledges and agrees that Lender
or one of Lender’s affiliates may receive commissions on the purchase of this
insurance.
19. ESCROW FOR TAXES AND INSURANCE. Mortgagor will not
be required to pay to Lender funds for taxes and insurance in escrow.
20. CO-SIGNERS. If Mortgagor signs this Security Instrument
but is not otherwise obligated to pay the Secured Debts, Mortgagor does so only
to mortgage Mortgagor’s interest in the Property to secure payment of the
Secured Debts and Mortgagor does not agree by signing this Security Instrument
to be personally liable on the Secured Debts.
If this Security Instrument secures a guaranty between Lender and
Mortgagor, Mortgagor agrees to waive any rights that may prevent Lender from
bringing any action or claim against Mortgagor or any party indebted under the
obligation. These rights may include,
but are not limited to, any anti-deficiency or one-action laws.
Initials _______
7
21. WAIVERS. Except to the extent prohibited by law,
Mortgagor waives all homestead exemption, redemption, reinstatement and
appraisement rights relating to the Property.
22. APPLICABLE LAW. This Security
Instrument is governed by the laws of Kansas, the United States of America, and
to the extent required, by the laws of the jurisdiction where the Property is
located, except to the extent such state laws are preempted by federal law.
23. JOINT AND INDIVIDUAL LIABILITY AND
SUCCESSORS. Each Mortgagor’s obligations under this
Security Instrument are independent of the obligations of any other
Mortgagor. Lender may sue each Mortgagor
individually or together with any other Mortgagor. Lender may release any part of the Property
and Mortgagor will still be obligated under this Security Instrument for the
remaining Property. If this Security
Instrument secures a guaranty between Lender and Mortgagor, Mortgagor agrees to
waive any rights that may prevent Lender from bringing any action or claim
against Mortgagor or any party indebted under the obligation. These rights may include, but are not limited
to, any anti-deficiency or one-action laws.
Mortgagor agrees that Lender and any party to this Security Instrument
may extend, modify or make any change in the terms of this Security Instrument
or any evidence of debt without Mortgagor’s consent. Such a change will not release Mortgagor from
the terms of this Security Instrument.
The duties and benefits of this Security Instrument will bind and
benefit the successors and assigns of Lender and Mortgagor.
24. AMENDMENT, INTEGRATION AND SEVERABILITY. This Security
Instrument may not be amended or modified by oral agreement. No amendment or modification of this Security
Instrument is effective unless made in writing and executed by Mortgagor and
Lender. This Security Instrument and any
other documents relating to the Secured Debts are the complete and final
expression of the agreement. If any
provision of this Security Instrument is unenforceable, then the unenforceable
provision will be severed and the remaining provisions will still be
enforceable.
25. INTERPRETATION. Whenever used, the
singular includes the plural and the plural includes the singular. The section headings are for convenience only
and are not to be used to interpret or define the terms of this Security
Instrument.
26. NOTICE, FINANCIAL REPORTS, ADDITIONAL
DOCUMENTS AND RECORDING TAXES. Unless otherwise required by law, any notice
will be given by delivering it or mailing it by first class mail to the
appropriate party’s address listed in the DATE AND PARTIES section, or to any
other address designated in writing.
Notice to one Mortgagor will be deemed to be notice to all
Mortgagors. Mortgagor will inform Lender
in writing of any change in Mortgagor’s name, address or other application
information. Mortgagor will provide
Lender any financial statements or information Lender requests. All financial statements and information
Mortgagor gives Lender will be correct and complete. Mortgagor agrees to pay all expenses, charges
and taxes in connection with the preparation and recording of this Security
Instrument. Mortgagor agrees to sign,
deliver, and file any additional documents or certifications that Lender may
consider necessary to perfect, continue, and preserve Mortgagor’s obligations
under this Security Instrument and to confirm Lender’s lien status on any
Property, and Mortgagor agrees to pay all expenses, charges and taxes in
connection with the preparation and recording thereof. Time is of the essence.
27. WAIVER OF JURY TRIAL. All of the parties to this Security Instrument
knowingly and intentionally, irrevocably and unconditionally, waive any and all
right to a trial by jury in any litigation arising out of or concerning this
Security Instrument or any other documents relating to the Secured Debts or
related obligation. All of these parties
acknowledge that this section has either been brought to the attention of each
party’s legal counsel or that each party had the opportunity to do so.
Initials _______
8
SIGNATURES. By signing, Mortgagor agrees to the terms and
covenants contained in this Security Instrument. Mortgagor also acknowledges receipt of a copy
of this Security Instrument.
|
MORTGAGOR:
|
|
|
|
|
|
MGP
INGREDIENTS, INC
|
|
|
|
|
|
|
|
|
|
By/s/ Timothy W. Newkirk
|
|
|
|
TIMOTHY W NEWKIRK, PRESIDENT & CEO
|
|
|
|
|
|
|
|
|
LENDER:
|
|
|
|
|
|
Exchange
National Bank & Trust Co.
|
|
|
|
|
|
|
By /s/ Mark Windsor
|
|
|
|
Mark Windsor, President
|
|
|
|
|
|
|
|
ACKNOWLEDGMENT.
(Business
or Entity)
Timothy
W. Newkirk, President & CEO OF MGP Ing., Inc. OF Atchison, KS ss.
This instrument was
acknowledged before me this 15th day of April, 2009 by TIMOTHY W NEWKIRK -
PRESIDENT & CEO of MGP INGREDIENTS, INC a Kansas corporation, on
behalf of the corporation.
|
My commission expires:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Initials _______
9
(Lender
Acknowledgment)
Mark
Windsor, President OF Exchange Natl. Bank & Trust Co. OF Atchison, KS ss.
This instrument was
acknowledged before me this 15th day of April, 2009 by Mark Windsor — President
of Exchange National Bank & Trust Co., a corporation, on behalf of the
corporation.
|
My commission expires:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Initials _______
10
Exhibit “A”
Real
property in the County of Tazewell, State of Illinois, described as follows:
Tract
I:
A
part of the Northeast Quarter of Fractional Section 9, and a part of Lots
6 and 8 in the Southeast Quarter of Fractional Section 4, said Lots 6 and
8 being shown on plat recorded on page 57 of Plat Book “B”, in the
Recorder’s Office of Tazewell County, Illinois, all being in Township 24 North,
Range 5 West of the Third Principal Meridian, Tazewell County, Illinois, and
more particularly described as follows:
Commencing
at the Northeast corner of said Northeast Quarter of Fractional Section 9;
thence South 89 degrees 29 minutes 14 seconds West, along the North line of
said Fractional Section 9, a distance of 1,629.48 feet to the place of
beginning; thence from said place of beginning South 20 degrees 05 minutes 14
seconds West a distance of 13.41 feet; thence South 86 degrees 48 minutes 22
seconds East a distance of 267.42 feet; thence South 00 degrees 56 minutes 03
seconds West a distance of 159.82 feet to the North line of The Quaker Oats
Company by deed recorded in Book 2045, page 72, of the Tazewell County
Recorder’s Office; thence South 89 degrees 27 minutes 16 seconds West along
said North line a distance of 104.33 feet; thence South 00 degrees 56 minutes
03 seconds West along the West line of The Quaker Oats Company property as
described in aforementioned deed, a distance of 253.00 feet to the South line
of The American Distilling Company property; thence South 89 degrees 27 minutes
16 seconds West along the South line of The American Distilling property, a
distance of 850.76 feet to the Southeast corner of a parcel conveyed by The
American Distilling Company to Pekin River and Warehouse Terminal, Inc. by
deed recorded in Book 2351, page 208, of the Tazewell County Recorder’s
Office; thence North 25 degrees 40 minutes 22 seconds West along Easterly line
of said parcel, a distance of 371.70 feet, thence North 00 degrees 02 minutes
54 seconds West along Easterly line of said parcel, a distance of 106.63 feet
to the South line of said Fractional Section 4; thence continuing North 00
degrees 02 minutes 54 seconds along Easterly line of said parcel 77.64 feet to
the Northerly corner of Pekin River and Warehouse Terminal Inc. property, and
also being a point on the Northwesterly line of Lot 8 as recorded in Plat Book “B”,
page 57, of the Tazewell County Recorder’s Office; thence North 46 degrees
59 minutes 11 seconds East along the Northwesterly line, of said Lot 8 a
distance of 1,110.92 feet; thence South 43 degrees 00 minutes 54 seconds East a
distance of 280.47 feet; thence South 42 degrees 00 minutes 08 seconds West, a
distance of 188.94 feet; thence South 19 degrees 51 minutes 12 seconds West, a
distance of 276.07 feet; thence South 69 degrees 54 minutes 46 seconds East, a
distance of 148.90 feet; thence South 20 degrees 05 minutes 14 seconds West, a
distance of 182.59 feet to the place of beginning; situate, lying and being in
the County of Tazewell and State of Illinois.
Initials _______
11
Tract
II:
A
part of the Northeast Quarter of Fractional Section 9, and a part of Lots
6 and 8 in the Southeast Quarter of Fractional Section 4, said Lots 6 and
8 being shown on plat recorded in page 57 of Plat Book “B” in the Recorder’s
Office of Tazewell County, Illinois, all being in Township 24 North, Range 5
West of the Third Principal Meridian, Tazewell County, Illinois and more
particularly described as follows:
Commencing
at the Southeast corner of the Southeast Quarter of said Fractional Section 4;
thence South 89 degrees 29 minutes 14 seconds West, along the South line of the
Southeast Quarter of said Fractional Section 4, a distance of 1,020.92
feet to a concrete monument being the Place of Beginning for the Tract herein
being described; thence North 37 degrees 03 minutes 04 seconds East a distance
of 1,013.11 feet; thence North 57 degrees 55 minutes West a distance of 292.65
feet to the Northwesterly right-of-way line of South Front Street; thence North
29 degrees 56 minutes 48 seconds East, along the Northeasterly right-of-way
line of South Front Street, a distance of 481.39 feet to a concrete monument;
thence North 46 degrees 54 minutes 36 seconds West a distance of 263.31 feet to
a point on the Northeasterly line of Lot 6 as recorded in Plat Book “B”, page 57,
of the Tazewell County Recorder’s Office; thence North 24 degrees 46 minutes 48
seconds West, along the Northeasterly line of said Lot 6 a distance of 35.6
feet; thence North 87 degrees 04 minutes 48 seconds West a distance of 214.55
feet to a point on the Northwesterly line of said Lot 6; said point being 200
feet from the Northerly corner of said Lot 6; thence South 46 degrees 59
minutes 11 seconds West, along the Northwesterly line of said Lot 6 and Lot 8
as recorded in Plat Book “B”, page 57 of the Tazewell County Recorder’s
Office, a distance of 1,146.23 feet to the Northerly corner of Tract I
previously described; thence South 43 degrees 00 minutes 54 seconds East, along
said Tract I, a distance of 280.47 feet; thence South 42 degrees 00 minutes 08
seconds West, along said Tract I, a distance of 188.94 feet; thence South 19
degrees 51 minutes 12 seconds West, along said Tract I, a distance of 276.97 feet;
thence South 69 degrees 54 minutes 46 seconds East, along said Tract I, a
distance of 148.90 feet; thence South 20 degrees 05 minutes 14 seconds West,
along said Tract I, a distance of 196.00 feet; thence South 86 degrees 48
minutes 22 seconds East, along said Tract I, a distance of 267.42 feet; thence
South 00 degrees 56 minutes 03 seconds West, along said Tract I, a distance of
159.82 feet to the property line of Quaker Oats Company; thence North 89
degrees 27 minutes 16 seconds East, along said property line a distance of
345.67 feet; thence North 00 degrees 56 minutes 03 seconds East, along said
property line, a distance of 189.47 feet of the Place of Beginning; situate,
lying and being in the County of Tazewell and State of Illinois.
|
Parcel
Numbers:
|
10-10-09-200-010
|
|
|
04-10-04-400-002
|
|
|
10-10-09-200-001
|
Initials _______
12