PARTIAL RELEASE OF LEASE

Transcription

1 PARTIAL RELEASE OF LEASE THIS PARTIAL RELEASE OF LEASE dated as of the 30th day of April, 2014, by and between the City of Wichita, Kansas, a municipal corporation of the State of Kansas, duly organized and existing under the laws of the State of Kansas (the Issuer ); Cornerstone Assisted Living, Inc., a Kansas not-for-profit corporation (the Corporation ); and Security Bank of Kansas City, Kansas City, Kansas, a banking association duly organized and existing under the laws of the State of Kansas (hereinafter referred to as the Trustee ). WITNESSETH: WHEREAS, the Issuer heretofore leased to the Corporation certain real property, together with improvements located thereon, pursuant to a Lease Agreement, dated as of September 1, 2013 (the 2013 Lease ), notice of which was duly recorded with the Register of Deeds of Sedgwick County, Kansas on September 25, 2013 at DOC.#/FLM-PG: ; and WHEREAS, the Issuer assigned certain rights in connection with the Lease to the Trustee pursuant to an Assignment of Lease which was duly recorded with the Register of Deeds of Sedgwick County, Kansas on September 25, 2013 at DOC.#/FLM-PG: ; and WHEREAS, the Issuer and the Corporation have executed a certain First Amendment to Lease, dated as of April 30, 2014 (the First Amendment to Lease ), to remove certain of the vacant land (the Vacant Land ) covered by the Lease, said Vacant Land consisting of property more specifically described in Schedule I attached hereto and incorporated hereby; and WHEREAS, in connection therewith, it is necessary to provide for the release of the Vacant Land from the terms of the above-described Lease. NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, and in consideration of other good and valuable consideration, the parties hereto agree that the Vacant Land is hereby released from the terms of the Lease, which terms and Lease shall, from the date hereof, no longer encumber said Vacant Land in any way. After recording, return to: TRIPLETT, WOOLF & GARRETSON, LLC Attn: J. T. Klaus 2959 N. Rock Road, Suite 300 Wichita, Kansas Telephone: (316)

2 IN WITNESS WHEREOF, the parties hereto have executed these presents as of the day and year first above written. CITY OF WICHITA, KANSAS [seal] Carl Brewer, Mayor ATTEST: Karen Sublett, City Clerk COUNTY OF SEDGWICK ) ISSUER BE IT REMEMBERED that on this day of April, 2014, before me, a notary public in and for said county and state, came Carl Brewer and Karen Sublett, Mayor and City Clerk, respectively, of the City of Wichita, Kansas, a Kansas municipal corporation, who are personally known to me to be the same persons who executed, as such officers, the within instrument on behalf of said City, and such persons duly acknowledged the execution of the same to be the act and deed of said City. day and year last above written. Notary Public in and for said County and State

3 CORNERSTONE ASSISTED LIVING, INC. Doug Frihart, President ATTEST: Gayle Randa, Secretary COUNTY OF SEDGWICK ) CORPORATION BE IT REMEMBERED that on this day of April, 2014, before me, a notary public in and for said County and State, came Doug Frihart and Gayle Randa, President and Secretary, respectively, of Cornerstone Assisted Living, Inc., a not-for-profit corporation duly organized and existing under and by virtue of the laws of said State, who are personally known to me to be such members, and who are personally known to me to be the same persons who executed, as such officers, the within instrument on behalf of said corporation, and such persons duly acknowledged the execution of the same to be the act and deed of said corporation. day and year last above written. Notary Public in and for said County and State

4 SECURITY BANK OF KANSAS CITY Kansas City, Kansas Matthew McLaughlin Vice President and Trust Manager TRUSTEE COUNTY OF WYANDOTTE ) BE IT REMEMBERED, that on this day of April, 2014, before me, a notary public in and for said county and state, came Matthew McLaughlin, Vice President and Trust Manager of Security Bank of Kansas City, Kansas City, Kansas, a banking association duly organized, incorporated and existing under and by virtue of the laws of the State of Kansas, who is personally known to me to be the same person who executed, as such officer, the within instrument on behalf of said Bank, and such person duly acknowledged the execution of the same to be the act and deed of said Bank. day and year least above written. Notary Public

5 SCHEDULE I PROPERTY RELEASED FROM LEASE The following described real estate located in the City of Wichita, Sedgwick County, Kansas: Lots 1 and 3, Block A, Ridge Port North 6 th Addition, Wichita, Sedgwick County, Kansas