HomeMy WebLinkAbout50calculated by Leader am a combined btsis using Net OPMOting locome from the project
and the Blackriver Rnperty.
(d) Notwithstanding any lfrovision to
the sonusty in the Loan Agroemeut, Botmwrr shall be MUM to drew Loan proceeds
from the Additional Leasing Holdback descn'bed in Section 2.6(3) of the Loan
Agreement during any Extenmou Period that Borrower shall have requested and
qualified for.
(e) UWLgfJNfta A new Event of Default is added to Section 9
of the Loan Agreement to read as follows:
"Section 9.8 Blackriy Ls as. Any Event cf Defee:lt occurs
under the B116mver Loan as descn W in the Blaclaiver lose Docwaosns."
(f) Lender haoby appauves the Blackriver
Lola for purposes of Section 8.8 and cub of dw Loan
Docmnenw are emended hereby to provide that the Bl"iv®r Loan shall be secured
by tha project tmder the terms of each of the Loan Dock that Orestes Is security
interest in favor of Lender, including without limitation, the Birgit Deed of Trust, the
Second Deed of Trust, the First Lease Assignment and the Second Lease Assignment.
All real and personal Collatertsl for the Loan shall also be collateral for the Bla"ver
Loan.
(g) Mararity P.xter�sioa Peiod. The date set forth is Section
2 31.3) is hereby modified to read "April 1, 2003 ".
q, C q�ggr�gQy�j. Before this Apsement becomes effective and any parry
becomes obligated under it, all of the following renditions shall have been satisfied at the
Borrower's sole cost and axpewe in a mLuaer acceptable to the Lender in the exercise of
the Lender's sole judgment:
(a) The Leader &hail bave [craved fully csecuted and, whxe
appropriate, acknow/edged origin& of this Agamcnt (causentai to by the Joinder
Parties) and any other documents (including evidence of the Botrot+ea Authority to
enter into this Agreement) that the Lender may reasonably require or request in
connection with this Agreement or in aocordow. with the other Loan Doomments.
(b) Ibis Agreement shall have been recorded in the official records of
King County, WaduTI toe
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1999ou"01139
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