Exhibit 10.493
Prepared by and return to:
Darrell D. Garvey, Esquire
Lowndes, Drosdick, Doster, Kantor & Reed, P.A.
450 South Orange Avenue, Suite 800
Orlando, Florida 32801
Borrower Name:
Inland Western Viera Lake Andrew, L.L.C.
Project Name:
Shoppes at Lake Andrew
Viera, Florida
THIS MORTGAGE MODIFICATION AND AMENDED AND RESTATED MORTGAGE AND SECURITY
AGREEMENT AMENDS AND RESTATES THAT CERTAIN NOTICE OF FUTURE ADVANCE, MORTGAGE
MODIFICATION AND AMENDED AND RESTATED MORTGAGE AND SECURITY AGREEMENT DATED
FEBRUARY 26, 2004 AND RECORDED ON MARCH 1, 2004 IN OFFICIAL RECORDS BOOK 5212,
PAGE 2259 OF THE PUBLIC RECORDS OF BREVARD COUNTY, FLORIDA AS ASSUMED BY
BORROWER PURSUANT TO THAT CERTAIN ASSUMPTION AGREEMENT OF EVEN DATE HEREWITH
(THE "ASSUMPTION AGREEMENT"), AND SECURES THE RENEWAL NOTE REFERRED TO HEREIN IN
THE ORIGINAL PRINCIPAL AMOUNT OF FIFTEEN MILLION SIX HUNDRED FIFTY-SIX THOUSAND
FIVE HUNDRED ELEVEN AND NO/100 DOLLARS ($15,656,511.00) (THE "RENEWAL NOTE").
THE RENEWAL NOTE AMENDS, RESTATES AND RENEWS THAT CERTAIN FUTURE ADVANCE AND
RENEWAL NOTE IN THE STATED PRINCIPAL SUM OF FIFTEEN MILLION EIGHT HUNDRED FIFTY
THOUSAND AND NO/100 DOLLARS ($I5,850,000.00) DATED FEBRUARY 27, 2004.
DOCUMENTARY STAMP TAX ON SAID OUTSTANDING AMOUNT IN THE SUM OF FIFTY-FIVE
THOUSAND FOUR HUNDRED SEVENTY-FIVE AND NO/100 DOLLARS ($55,475.00.00) HAS BEEN
PAID SIMULTANEOUSLY WITH THE RECORDING OF THE ASSUMPTION AGREEMENT.
THE
OUTSTANDING PRINCIPAL BALANCE OF THE RENEWAL NOTE IS EXEMPT FROM FLORIDA
INTANGIBLE TAXES PURSUANT TO FLORIDA STATUTES SECTION 199.145.3.
MORTGAGE MODIFICATION AND AMENDED AND RESTATED MORTGAGE AND
SECURITY AGREEMENT
THIS MORTGAGE MODIFICATION AND AMENDED AND RESTATED MORTGAGE AND SECURITY
AGREEMENT is made, executed and delivered as of this 30 day of December, 2004,
by INLAND WESTERN VIERA LAKE ANDREW, L.L.C., a Delaware corporation whose
address is 2901 Butterfield Road, Oak Brook, Illinois 60523, Attention: Mr.
Michael Poe, to and in favor of NATIONWIDE LIFE INSURANCE COMPANY, an Ohio
corporation, its successors and assigns (hereinafter referred to as "Lender"),
having its principal office at One Nationwide Plaza, Columbus, Ohio 43215-2220,
Attention: Real Estate Investment Department, 34T, or at such other place either
within or without the State of Ohio, as Lender may from time to time designate;
THAT WHEREAS, Lender is the owner and holder of that certain Mortgage and
Security Agreement by WICKHAM & 95 CORP., a Florida corporation, LOT 90, L.L.C.,
a Florida limited liability company, and LOT 91, L.L.C., a Florida limited
liability company (collectively, "Wickham") to and in favor of AmSouth Bank, a
state banking corporation ("AmSouth") dated October 30, 2002 and recorded on
November 4, 2002, in Official Records Book 4728, Page 3484, of the Public
Records of Brevard County, Florida (hereinafter referred to as the "AmSouth
Mortgage"); and
WHEREAS, the Original Mortgage secures that certain Promissory Note executed by
Wickham to and in favor of AmSouth dated October 30, 2002 in the original
principal amount of FIFTEEN MILLION ONE HUNDRED FIFTY THOUSAND AND NO/100
DOLLARS ($15,150,000.00) (the "AmSouth Note"); and
WHEREAS, the AmSouth Mortgage and the AmSouth Note were subsequently assigned
and transferred to Lender pursuant to that certain Assignment of Note and