Release of Mortgage



 Exhibit 10.4 
  

					
	Prepared by and	 	 	 	  
	when recorded return to:	 		 	 
	R. Andrew George, Esq.	 		 	 
	



	 		 	 
	101 East Kennedy Boulevard	 		 	 
	Suite 2800	 		 	 
	Tampa, Florida 33602	 		 	 
	Phone: (813) 229-7600	 		 	 
		 		 	 
		 		 	 
		 		 	 
		 		 	 

 RELEASE OF MORTGAGE 
 THIS RELEASE OF MORTGAGE is made and given as of the 26th day of February, 2010,
by Gators Lender, LLC, a Florida limited liability company (the “Mortgagee”), to and for the benefit of Cortez 114, LLC, a Florida limited liability company (“Mortgagor”). 
 W I T N E S S E T H: 
 WHEREAS, Mortgagee is the owner and holder of a certain Mortgage and Security Agreement from Mortgagor dated October 22, 2009 and recorded at O.R. Book 2693, Page 1931, of the Public Records
of Hernando County, Florida (the “Mortgage”), which Mortgage secures Mortgagor’s Absolute Guaranty of Payment and Performance dated October 22, 2009 (the “Guaranty”), which guarantees due performance and
prompt payment of all sums owed to Mortgagee under that certain $1,750,000.00 loan made by Mortgagee to UTEK Corporation, a Delaware corporation, and UTEK Real Estate Holdings, Inc., a Florida corporation (collectively, the
“Borrower”), which loan is evidenced inter alia by that certain Promissory Note dated October 22, 2009 in the original principal amount of $1,750,000.00; and, 
 WHEREAS, the Guaranty secured by the Mortgage is further secured by that certain UCC-1 Financing Statement recorded in the Public
Records of Hernando County, Florida at O.R. Book 2693, Page 1957 (the “Financing Statement”); and, 
 WHEREAS, Mortgagor has requested that Mortgagee release the lien and operation of the Mortgage and Financing Statement, and Mortgagee is willing to do so; 
 NOW, THEREFORE, for and in consideration of the sum of Ten U.S. Dollars (U.S.$10.00) and other good and valuable considerations, the receipt and sufficiency of which are hereby acknowledged,
Mortgagee does hereby remise, release, quit-claim, exonerate and discharge the property encumbered by the Mortgage from the Mortgage and hereby directs the Clerk of the Circuit Court for Hernando County, Florida, to cancel the same of record.
Mortgagee does hereby further direct the Clerk of the Circuit Court for Hernando County, Florida, to release, terminate and cancel the Financing Statement. 
  

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 IN WITNESS WHEREOF, Mortgagee has executed this instrument as of the day and year
first above written. 
  

									
	Signed, sealed and delivered	 		 	
	in the presence of:	 		 	GATORS LENDER, LLC,
		 		 		 	a Florida limited liability company
				
	 /s/ Matthew Hatfield
	 		 		 	
	(Witness Signature)	 		 		 	
	Print Name:	 	 Matthew Hatfield
	 		 	By:	 	 /s/ David L. Redmond

		 		 		 	Name:	 	 David L. Redmond 

		 		 		 	Title:	 	 Authorized Agent

				
	 /s/ Lynn A. Carter
	 		 		 	Address:
	(Witness Signature)	 		 		 	5308 E. Longboat Blvd.
	Print Name:	 	 Lynn A. Carter
	 		 		 	Tampa, Florida 33615
		 		 		 		 	Attn: Martin Schaffel, Sole Manager

 STATE OF FLORIDA

 COUNTY OF HILLSBOROUGH 
 The foregoing instrument was acknowledged before me this 26th day of February, 2010, by Martin Schaffel, as the Sole Manager of Gators Lender, LLC, a Florida limited liability company, on behalf of the
company. He is personally known to me or who has produced drivers license as identification. 
  

			
	 /s/ Lynn A. Carter

	Notary Public - (Signature)
	Print Name	 	 Lynn A. Carter

	
	My Commission Expires:


  

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