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PARTIAL RELEASE OF MORTGAGE <br />This PARTIAL RELEASE OF MORTGAGE is made as of the 1st day of <br />February, 2006 (the "Partial Release"), by EDGEWATER BANK F/KJA LASALLE <br />FEDERAL SAVINGS BANK, a federal savings bank with its principal office in St. <br />Joseph, Michigan (the "Mortgagee"), in favor of WENNIGSEN L.L.C., a limited liability <br />company with its principal office in Mishawaka, Indiana (the "Mortgagor"): <br />WHEREAS, on May 15, 2003, the Mortgagor granted a mortgage in favor of the <br />Mortgagee pursuant to a Mortgage Agreement (the "Mortgage") as security for a <br />Commercial Promissory Note (as defined in the Mortgage) in an amount not to exceed <br />$152,000,000, which Mortgage was recorded on May 21, 2003, as Document No. <br />0330810 and re -recorded on June 1, 2004, as Document No. 0425961, both in the Office <br />owe Recorder of St. Joseph County, Indiana; and ;- <br />WHEREAS, the Mortgage grants a mortgage on the real property located at 141 <br />E. Ireland Road, South Bend, Indiana and more particularly described at Exhibit A (the <br />"Mortgaged Property"); and <br />WHEREAS, the Mortgagor desires to provide a Perpetual Utility Easement in a <br />small parcel of the Mortgaged Property located along Ireland Road and described at <br />Exhibits B (the "Released Property") to the City of South Bend, Indiana (the "City") to <br />allow the City to, among other things, construct certain local public improvements <br />thereon which will have the effect of improving the surrounding area, and thus increase <br />the value of, the Mortgaged Property (the "Improvements"); and <br />WHEREAS, the Mortgagee desires to release the Mortgage as to the Released <br />Property in order to allow the Mortgagor to provide a Perpetual Utility Easement in the <br />Released Property to the City and to allow the City to complete the Improvements. <br />NOW, THEREFORE, for good and valuable consideration, the receipt and <br />adequacy of which is hereby acknowledged, the Mortgagee hereby releases the Mortgage <br />as to the interest in the Released Property to be conveyed to the City in order to allow the <br />Mortgagor to provide a Permanent Utility Easement in the Released Property to the City <br />and to allow the City to complete the Improvements, <br />aRE <br />Vt- <br />6 <br />N <br />hW0 <br />w .. <br />� L A W <br />COULD <br />tw--m <br />as <br />L) <br />rsl <br />ix <br />C:IDOCUME-1huser•ILOCALS--/IToniplParrralReleaseofMortgage(WetrnBigsenLLCProperlyParcelll).doc <br />