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Exhibit 10.49b
Section: 004.00
Block:
02.00
Lots:
003.000 and 004.000
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Dated as of June 30, 2004
MORTGAGE MODIFICATION AGREEMENT
between
RD BRANCH ASSOCIATES, L.P.,
a New York
limited partnership,
Mortgagor,
and
FLEET NATIONAL BANK, as
Administrative Agent for Lenders (as hereinafter defined)
(together with its successors in such capacity, "Mortgagee")
This instrument affects real and personal
property situated at 126 East Main
Street, Smithtown, New York 11787.
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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 RD BRANCH ASSOCIATES, L.P.
("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 Leasehold
Mortgage, Assignment of Leases and Rents
and Security Agreement from Mortgagor
to Mortgagee dated as of December 28, 2001
and recorded in the Office of the
Suffolk County Clerk, New York on January
14, 2002 in Liber M00020006 at page
819 (the "Original Mortgage");
WHEREAS, the maximum principal amount which is or under any
contingency may be secured by the Mortgage
prior to the effect of this Mortgage
Modification Agreement is $15,000,000, 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"), Heathcote
Associates, L.P. ("Gateway Mortgagor") and
Acadia Town Line, LLC ("Town Line
Mortgagor") have entered into that certain
Amended and Restated Term Loan Agreement
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 amends,
extends and restates the terms thereof in
their entirety;
WHEREAS, the Mortgage is a first priority mortgage encumbering
the property described on SCHEDULE A
attached hereto and made a part hereof (the
"Premises");
WHEREAS, Mortgagor is the lawful owner of the Premises; and
WHEREAS, Mortgagee and Mortgagor have agreed to modify the
terms
of the Mortgage in the manner hereinafter
set forth.
NOW, THEREFORE, in consideration of the premises and the mutual
agreements herein expressed, the parties
hereto covenant and agree as follows:
1. As used in
the Original Mortgage, the term "Loan
Agreement" shall mean the Amende
