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HomeMy WebLinkAbout01-2257 PARTIES Debtor name (last name first if individual) and mailing address: Cumberland Elderly Housing Associates 1 East Stow Road Marlton, NJ, 08053 Debtor name (last name first if individual) and mailing address: Debtor name (last name first if individual) and mailing address: lb Secured Party(les) names(s) (last name first if individual) and address for security interest information: ~ ~ a'~kr u.s. Di'v~, 451 ~ ~, ~, ~ ~ ~10~~~ 2 ~signee(s) of Secured Party name(s) (last name first if individual) an~ address for security interest i~formatiom 2u Special Types of Parties (check if applicable): [] The terms "Debtor" and "Secured Party" mean "Lessee" and "Lessor," respectively. [] The terms "Debtor" and "Secured Party" mean "Consignee" and "Consignor," respectively. [] Debtor is a Transmitting Utility. SECURED PARTY SIGNATURE(S) This statement is filed with only the Secured Party's signature to perfect a security interest in collateral (check applicable box(es))- a. [] acquired after a change of name, identity or corporate structure of the Debtor. b. [~ as to which the filing has lapsed. c. already subject to a security interest in another county in Pennsylvania- []when the collateral was moved to this county. []when the Debtor's residence or place of basinese was moved to this county. d. already subject to a security interest in another jurisdiction- ~when the collateral was moved to Pennsylvania []when the Debtor's location was moved to Pennsylvania. e. [] which is proceeds of the collateral described in block 9, in which a security interest was previously perfected (also describe proceeds in block 9, if purchased with cash proceeds and not adequately described on the original financin9 statement). Secured Party Signature(s) (required only if box(es) is checked above ;TANDARDFORM FORMUCC 1 (7 89) %pproved by Secretary of Commonwealth of Pennsylvania FINANCING STATEMENT Uniform Commercial Code Form UCC-! IMPORTANT-Please read instructions on reverse side of page 4 before completing Filing No. (stamped by filing officer): Date, Time, Filing Office (stamped by filing officer): This Financing Statement is presented for filing pursuant to the:Uniform Commercial COde, and is to be filed with the tcheck applicable box): -?? [] Secretary of the Commonwealth. f~ Prothonotary of (~umb~rl ~nd : ~ ,~ =County. [] reel estate records of County. Number of Additional Sheets (if any): Optional Special Identification (Max, 1D characters): COLLATERAL Identify collateral by item and/or type: 5 6 7 8 See Exhibit "B" attached hereto for description of collateral which collateral is located on the real estate described in Exhibit "A". See Exhibit "C" [] (check only if desired) Products of the collateral are also covered 9 Identify related real estate, if appbcabfe: The collatera! is, or includes (check appropriate box(es))- a. [] crops growing or to he grown on - bi~] goods which are or are to become fixtures on c [~ minerals or the like (including oil and gas) as extracted on - d. ltl accounts resulting from the sale of minerals or the like (including oil and gas) at the wellhead or minehead on - the following real estate: Street Address: Described at: Book of (check one) [] Deeds [] Mortgages, at Page(s) for County Uniform Parcel Identifier [] Described on Additional Sheet. Name of record owner (required only if no Debtor has an interest of record): Debtor Signature(s): DEBTOR SIGNATURE(S) 10 1 See attached for signature page fa lb RETURN RECEIPT TO: 'if Kristin Mo Neun, Esq. Hessel and Aluise, PuC. 1050 17th Street, NW Suite 900 Washington, DC 20036 NOTE - This page will not be returned by the Department of State. (1) FILING OFFICE ORIGINAL 12 Signature page for U~C-1 Financing Statement DEBTOR: Cumberland Elderly Housing Associates, a Pennsylvania By:limited pa~ Michel .1. I_evitt General Partner EXHIBIT A AL]- THAT C~RTAIN parcel or piece of land situate in the Township of Lower Allen, Cumberland County, Pennsylvania, ~ounded a~d described BEGI~IRG at an interior ~in~ being a corner famed by whi~ ~int is me~ured (2) No=th 61 de~reesl9 minu%es ~ seconds %'Zes~ 35 fe~= from a poin~ on the along the said So=therly ri~h~ of way line. on the Westerly side of ~sburn Road LR 21023, which poin~ is meas~- ed alan9 ~he said Westerly side of ~shurn Road (4) ~u~ 11 de~rees 5g minutes O0 s~con~s HAst ~0 fee~ from · he northerly side of s~d ~0 feet wide ripht of way (l) ~ueh ~ ~e~rees 10 minutes 30 se~nds Wes= i55.80 f~=. ~ a ~int ~ corner of 1~ now or la~e of ~wer ~len S~ool Dis~ric~ ~hence (4) North 11 degrees 19 minules 44 secon~ West 370.24 f~e~ ~on9 =he s~d 1~ of Shet%er ~d ~so ~ong =he l~d now or late fixs~ m~%ioned point ~ place of be~i~ng ~NING 3.~2 acres D~I~ ~ Tract No. ,2 on ~he ~ores~d survey ~d regress 2o ~d from ~e S~d a~ve ~ac= of l~d from ~s= Road, over~ upon ~d along a ~rac~ of l~d 50 fee~ in width, described u follow= ~ extending ~ong the s~d Westerly side of z ~ ~burm Road Sou:h 77 degrees 20 minut.s O0 seconds West thence south 64 degrees'lO minutes ~0 seconds West 35 feet to a point, thence 12S.O0 feet to a paint Continued on the Northerly side of s~id right cf way thence ' ~hence (?) Along =he =c of a circle curving to ~he right having a radlu~ of 175 fee= the =c distance of 45.40 feet =o a poin~ ~hence still alo~ the s~id Nor=h~ly side of rlgh= of (8) North 77 de,tees ZO minu~es GO second~ EA~= 147.59 fee= on =he westerly side of Lisburn Ro~ Being ~he firs~ mentioned ~int ~ place of be~innin~ ~AINING 0.~0 acres . situate in T~hi~ of ~we= ~len~ Cmberl~d ~. Pen. ~ded ~d ~cribed ~ ~in= bein~ South 11 de,tees 57 ~nute~ O0 ~econds Eas~ for ~th 77 de~rees 20 m~n~=es ~ se~n~ E~ for A ~Ca~ce 53.?8 fee~ ~ence ~R ~'~ the' ~mon use of a 50 fee~ ~de righ~ of way for the use zs follow~: BBGI~NZNG at a point on the Easterly property line of =he said at %he dis~ of 46.54 fee= measu~e~ ~o==h 13 de.tees 40 min==es 31 of beginnin~ of ~he said premises. =h~ce from said. beg~nnin~ poin~ (2) No=~h 1~ de~ees 40 minu~es 31 seconds ~es= ~ dis~nce o~ 32.4~ fee~ PaGe 3 (~) . (6) on =he s~d Northerly side cf the 50 feet wide rich= of way At it= p~t and premises now or la~e of C~p Mill ~rouGh, =hence along 50 fee= wide right Of way ly side o~ the said ~0 feet Wi~e rich= ~f way, =hence along (s) (9) (~) (i~) ~d the pre~ses ~djoining, ~hemce =on=inuin~ ~!ong T~e s~d Sou~h- Along ~h~ ~rc 0£ 12~ fee= T~e a c3~rcle curving to ~he left hav~n~ a rm~/us of 20 minutes ~0 second~ Ea_.~t =0.~2 fee~ to ~ Northerly side of ~he s~ right ~ff w~ be~n~ ~e ~irs~ men~oned The abOV{ d{~c:ibed is shOv~ On a Subdivision ?la~ entitled Cumberland EXHIBIT "B" COLLATERAL All of the following, which may be located on certain land located in the City of Camp Hill, Cumberland County, PA, as legally described in Exhibit "A", attached hereto and made a part hereof (the "Premises"), or which may otherwise relate to, or be used or usable in connection with, the acquisition, construction, equipping, repair, ownership or operation of a certain (multifamily apartment complex proposed to be constructed or rehabilitated on the Premises, which project is to be known as Mallard Run Apartments (such project being referred to herein as the "Project"), in which Debtor has an interest now or hereafter existing or acquired (all of the following is herein referred to collectively as the "Property"): 1. All materials now owned or hereafter acquired by Debtor and intended for construction, reconstruction, alteration and repair of any building, stmcture or improvement now or hereafter erected or placed on the Premises, all of which materials shall be deemed to be included within the Project immediately upon the delivery thereof to the Premises. 2. All the walks, fences, shrubbery, driveways, fixtures, machinery, apparatus, equipment, fittings, and other goods and other personal property of every kind and description whatsoever, now owned or hereafter acquired by Debtor and attached to or contained in and used or usable in connection with any present or future operations of the Project, including, by way of example rather than of limitation, all lighting, laundry, incinerating and power equipment; ail engines, boilers, machines, motors, furnaces, compressors and transformers; all generating equipment; all pumps, tanks, ducts, conduits, wire, switches, electrical equipment, all piping, tubing, plumbing equipment and fixtures; all heating, refrigeration, air conditioning, cooling, ventilating, sprinkling, water, power and communications equipment, systems and apparatus; all water coolers and water heaters; all fire prevention, alarm and extinguishing systems and apparatus; all cleaning equipment, all lift, elevator and blinds, awnings, screens, screen doors, storm doors, exterior and interior signs, gas fixtures, stoves, ovens, refrigerators, garbage disposal, dishwashers, cabinets, mirrors, mantles, floor coverings, carpets, rugs, draperies and other furnishings and furniture installed or to be installed or used or usable in the operation of any part of the Project or facilities erected or to be erected in or upon the Premises; and every renewal or replacement thereof or articles in substitution therefor, whether or not the same are now or hereafter attached to the Premises in any manner; all except for any right, title or interest therein owned by any tenant of any apartment unit in the Project. 3. All of Debtor's right, title and interest in and to any and all judgments, awards of damages (including but not limited to severance and consequential damages), payments, proceeds, settlements or other compensation (collectively, the "Awards") heretofore or hereafter made, including interest thereon, and the right to receive the same, as a result of, in connection with, or in lieu of(i) any taking of the Premises, the Project or any of the power of condemnation or eminent domain, or the police power, (ii) any change or alteration of the grade of any street, or or eminent domain, or the police power, (ii) any change or alteration of the grad~ of any street, or (iii) any other injury or decrease in the value of the Property or any part thereof(including but not limited to destruction or decrease in value by fire or other casualty), all of which Awards, rights thereto and shares therein are hereby assigned to Secured Party, who is hereby authorized to collect and receive the proceeds thereof and to give Property receipts and acquittance therefor and to apply, at its option, the net proceeds thereof, after deducting expenses of collection as a credit upon any portion, as selected by Secured Party, of the Obligation. -~ 4. All of Debtor's right, title, interest in any and all payments, proceeds, settlements or other compensation heretofore or hereafter made, including any inibrest thereon, and the fight to receive the same form any and all insurance policies covering the Property or any portion thereof, or any of the other property described herein. 5. The interest of Debtor in all of the rents, royalties, issues, profits, revenues, income and other benefits of the Properly, or arising form the use or enjoy~nent of all or any portion thereof, or from any lease or agreement pertaining thereto, and all right, title and interest of Debtor in and to, and remedies under, all contract rights, accounts receivable and general tangibles arising out of or in connection with any and all leases and subleases of the Property, or any part thereof, and of the other Property described herein or any part thereof, both now in existence or hereafter entered into, together with all proceeds (cash and non-cash) thereof and including, without limitation, all cash or securities deposited thereunder to secure performance by the lessees of their obligations thereunder. 6. All of Debtor's rights, options, power and privileges in and to (but not Debtor's obligations and burdens under) any construction contract, architectural and engineering agreements and management contract pertaining to construction and management of the Premises or the Project and all of Debtor's fight, title and interest in and to (but not Debtor's obligations and burdens under) all architectural, engineering and similar plans, specifications, drawings, reports, surveys, plats, permits and the like, contracts for construction, operations and maintenance of, or provision of services to, the Premises, the Project or any of the other property described herein, and all sewer taps and allocations agreements for utilities, bonds and the like all relating to the Property. 7. All intangible personal property, accounts, licenses, permits, instruments, contract rights, and chattel paper of Debtor, including but not limited to cash, accounts receivable, bank accounts, certificates of deposit, securities, promissory notes, rents, rights (if any) to amounts held in escrow, insurance proceeds, condemnations rights, deposits, judgment, liens and causes of action, warranties and guarantees. 8. All inventory, including raw materials, components, work-in-progress, finished merchandise and packing and shipping materials. 4 9. All income, rents, profits, receipts, and charges derived from the Premises described in Exhibit "B". 10. All accounts including but not limited to the following accounts: Reserve for Replacement, Surplus Cash or Residual Receipts, Mortgage Insurance Premiums, Special Funds, ground rents, taxes, water rents, assessments, fire and other hazard insurance premiums, accounts receivable, operating revenue, initial operating escrow, construction fund, escrow-for delayed completion, escrow for latent defects, depreciation reserve, sinking fund. 11. Proceeds, products, returns, additions, accessions and substitutions if any to any or ail of the above. 12. Any of the above arising or acquired by Debtor or to which Debtor may have a legal or beneficial interest on the date hereof and at any time in the future. 13. Premises. Any of the above which may become fixtures by virtue of attachment to the 5 EXHIBIT "C" The real property described in Exhibit "A" is subject to a Mortgage recorded in Book , Page oft,he Cumberland County Office of the Recorder of Deeds on , 2001. Final payment date on said Mortgage is June 1,2032. Record title owner of said real estate is CUMBERLAND ELDERLY HOUSING ASSOCIATES. This financing-statement also relates to an obligation secured by a Security Agreement of even date herewith.