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Exhibit 10.49
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Dated as of June 30, 2004
MORTGAGE MODIFICATION AGREEMENT
between
ACADIA TOWN LINE, LLC,
a Connecticut limited liability company,
Mortgagor,
and
FLEET NATIONAL BANK, as
Administrative Agent for Lenders (as hereinafter defined)
(together with its successors in such capacity, "Mortgagee")
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RECORD AND RETURN TO:
Schiff Hardin LLP
623 Fifth Avenue, 28th Floor
New York, New York 10022
Attention: Paul G. Mackey, Esq.
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MORTGAGE MODIFICATION AGREEMENT
MORTGAGE MODIFICATION AGREEMENT dated this 30th day of June,
2004 between ACADIA TOWN LINE, LLC
("Mortgagor") and FLEET NATIONAL BANK, as
Administrative Agent ("Mortgagee").
W I T N E S S E T H:
WHEREAS, Mortgagee is now the lawful owner and holder of the
note (collectively, the "Original Note")
secured by that certain Open-End
Mortgage Deed, Security Agreement and
Assignment of Leases and Rents from
Mortgagor to Fleet Bank, National
Association dated as of March 23, 1999 and
recorded in the Land Records of Hartford
County, Connecticut in Volume 340 at
page 264 (the "Original Mortgage");
WHEREAS, the maximum principal amount which is or under any
contingency may be secured by the Original
Mortgage prior to the effect of this
Mortgage Modification Agreement is
$7,000,000, plus interest thereon and all
additional interest and late payment and
prepayment charges in respect thereof,
plus all amounts expended by Mortgagee
following a default thereunder in respect
of insurance premiums and real estate
taxes, and all legal costs or expenses of
collection of the note(s) secured thereby
or of the defense or prosecution of
the rights and lien created thereby;
WHEREAS, Mortgagee, Mortgagor, RD Abington Associates Limited
Partnership ("Abington Mortgagor"), RD
Methuen Associates Limited Partnership
("Methuen Mortgagor"), RD Branch
Associates, L.P. ("Branch Mortgagor") and
Heathcote Associates, L.P. ("Gateway
Mortgagor") have entered into that certain
Amended and Restated Term Loan Agreement
dated as of the date hereof (the
"Amended and Restated Loan Agreement"),
which Amended and Restated Loan
Agreement consolidates the Original Note
with certain other notes and extends,
amends and restates the terms thereof in
their entirety;
WHEREAS, the notes consolidated and modified pursuant to the
Amended and Restated Loan Agreement (as the
same may hereafter be modified,
amended, extended, restated or replaced
from time to time, the "Note") evidence
a consolidated indebtedness (the
"Consolidated Indebtedness") in the principal
amount of up to $45,900,000 and Mortg
