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Mortgage and Security Agreement
Mortgage and Security Agreement (39K)
Doc #173333: Click preview link for longer preview.
MORTGAGE AND SECURITY AGREEMENT
THIS MORTGAGE AND SECURITY AGREEMENT (this Mortgage) is made as of the 10th day of February, 2003, by DOVER INTERNATIONAL SPEEDWAY, INC. (the Mortgagor), with an address at 1131 North Dupont Highway, P.O. Box 843, Dover, Delaware 19903 in favor of PNC BANK, DELAWARE (the Mortgagee) as Agent under the Credit Agreement (as defined herein) for the ratable benefit of the Banks (as defined herein), with an address at 222 Delaware Avenue, Wilmington, Delaware 19841.
WHEREAS, Dover Motorsports, Inc. (the Borrower), the several banks and other financial institutions party thereto (the Banks) and the Mortgagee, as Agent for the Banks, are parties to a Credit Agreement dated as of February 20, 2002, as amended by a First Amendment to Credit Agreement dated as of March 31, 2002, a Second Amendment to Credit Agreement dated as of July 30, 2002 and a Third Amendment to Credit Agreement dated as of January 27, 2003 (as so amended, supplemented or otherwise modified and as may in the future be amended, supplemented as otherwise modified, the Credit Agreement);
WHEREAS, pursuant to the Credit Agreement, the Borrower has executed and delivered to the Banks certain revolving credit notes evidencing loans under the Credit Agreement in the aggregate principal amount of up to $105,000,000 (as amended, supplemented or otherwise modified, collectively, the Notes)
WHEREAS, Mortgagor and certain other subsidiaries of the Borrower, (collectively, the Guarantors) entered into a Guaranty Agreement dated as of February 20, 2002 (as amended, supplemented or otherwise modified, the Guaranty Agreement) pursuant to which the Guarantors have guaranteed and become sureties for, among other things, the Borrowers obligations under the Credit Agreement and the Notes;
WHEREAS, in connection with the execution and delivery of the Third Amendment to Credit Agreement dated as of January 27, 2003, the Mortgagor has agreed to execute and deliver this Mortgage as collateral security for the Mortgagors obligations under the Guaranty Agreement;
WHEREAS, the Mortgagor is the owner of a certain tract or parcel of land described in Exhibit A attached hereto and made a part hereof, together with the improvements now or hereafter erected thereon; and
NOW, THEREFORE, for the purpose of securing the payment and performance of the following obligations (collectively called the Obligations):
(A) the Notes and all other loans, advances, debts, liabilities, obligations, covenants and duties owing by the Mortgagor or the Borrower to the Agent and the Banks of any kind or nature, present or future (including, without limitation, any interest accruing thereon after maturity, or after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding relating to the Mortgagor or the Borrower, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding), whether or not evidenced by any note, guaranty or other instrument, arising under the Credit Agreement, the Notes, the Guaranty Agreement, any Interest Rate Hedge Agreement (as defined in the Credit Agreement) by and between the Borrower and any of the Banks or any affiliate thereof or any other Loan Document (as defined in the Credit Agreement), whether direct or indirect (including those acquired by assignment or participation), absolute or contingent, joint or several, due or to become due, now existing or hereafter arising, and any amendments, extensions, renewals or increases and all costs and expenses of the Mortgagee, the Banks or any affiliate thereof incurred in the documentation negotiation, modification, enforcement, collection or otherwise in connection with any of the foregoing, including reasonable, attorneys fees and expenses already delivered.
(B) Any sums advanced by the Mortgagee or the Banks or which may otherwise become due pursuant to the provisions of the Credit Agreement, the Notes, the Letters of Credit (as defined in the Credit Agreement), the Guaranty Agreement, the other Loan Documents or this Mortgage or pursuant to any other document or instrument at any time delivered to the Mortgagee or the Banks or any affiliate thereof to evidence or secure any of the Obligations or which otherwise relate to any of the Obligations (as the same may be amended, supplemented or replaced from time to time, the Loan Documents).
The Mortgagor, for good and valuable consideration, receipt of which is hereby acknowledged, and intending to be legally bound hereby, does hereby give, grant, bargain, sell, convey, presently assign, transfer, mortgage, hypothecate, pledge, set over and confirm unto the Mortgagee and its successors and assigns, all of the Mortgagors estate, right, title, interest, property, claim and demand, now owned or held or hereafter acquired or arising, in and to the following property and rights (the Property):
(a) the land and premises described in Exhibit A attached hereto, together with all of the easements, rights of way, privileges, liberties, hereditaments, gores, streets, alleys, passages, ways, waters, watercourses, rights and appurtenances thereunto belonging or appertaining, and all of the Mortgagors estate, right, title, interest, claim and demand therein and in the public streets and ways adjacent thereto, either at law or in equity (the Land);
(b) all the buildings, structures, improvements and fixtures of every kind and description owned by the Mortgagor or in which the Mortgagor has an interest now or hereafter erected or placed on the Land (the Improvements);
(c) all the remainder or remainders, reversion or reversions, rents, revenues, issues, profits, royalties, income and other benefits derived from any of the foregoing (the Rents; and
173333
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Dover Motorsports, Inc.
As referenced in this Mortgage and Security Agreement:
Dover Motorsports, Inc – defined herein) for the ratable benefit of the Banks (as defined herein), with an address at 222 Delaware Avenue, Wilmington, Delaware 19841.
WHEREAS, Dover Motorsports, Inc . (the Borrower), the several banks and other financial institutions party thereto (the Banks) and the Mortgagee, as Agent for the Banks, are
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dt 322715
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International Speedway Inc.
As referenced in this Mortgage and Security Agreement:
INTERNATIONAL SPEEDWAY, INC – MORTGAGE AND SECURITY AGREEMENT
THIS MORTGAGE AND SECURITY AGREEMENT (this Mortgage) is made as of the 10th day of February, 2003, by DOVER INTERNATIONAL SPEEDWAY, INC . (the Mortgagor), with an address at 1131 North Dupont Highway, P.O. Box 843, Dover, Delaware 19903 in favor of PNC BANK,
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INTERNATIONAL SPEEDWAY, INC – execution hereof as a document under seal, as of the date first written above.
Signed, sealed and delivered
in the presence of:
DOVER INTERNATIONAL SPEEDWAY, INC .
/S/ BANK REPRESENTATIVE
By:
/S/ DENIS MCGLYNN
(SEAL)
Print Name:
Print Name: Denis McGlynn
Title:
(Include title only if an officer of
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International Speedway, Inc – and existing under the following agreements:
1. The Lease Agreement dated January 15, 2002 by and between Dover Downs, Inc. and Dover Downs International Speedway, Inc .
2. The Declaration of Restrictions made January 15, 2002 by Dover Downs International Speedway, Inc. and Dover Downs, Inc.
3. The Cross
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International Speedway, Inc – and between Dover Downs, Inc. and Dover Downs International Speedway, Inc.
2. The Declaration of Restrictions made January 15, 2002 by Dover Downs International Speedway, Inc . and Dover Downs, Inc.
3. The Cross Easement Agreement made January 15, 2002 by Dover Downs, Inc. and Dover International Speedway, Inc.
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International Speedway, Inc – Downs International Speedway, Inc. and Dover Downs, Inc.
3. The Cross Easement Agreement made January 15, 2002 by Dover Downs, Inc. and Dover International Speedway, Inc .
4. Such utility easements and encumbrances of record, excluding any Mortgages, Judgment Liens and Mechanics Liens of record.
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dt 361437
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Full Doc
| 2004 |
Mortgage and Security Agreement
Mortgage and Security Agreement (41K)
Doc #1517501: Click preview link for longer preview.
MORTGAGE AND SECURITY AGREEMENT
THIS MORTGAGE AND SECURITY AGREEMENT (this �Mortgage�) is executed on the 17th day of February, 2004 and effective as of February 19, 2004, by DOVER INTERNATIONAL SPEEDWAY, INC., formerly known as Dover Downs International Speedway, Inc. (the �Mortgagor�), with an address at 1131 North Dupont Highway, P.O. Box 843, Dover, Delaware 19903 in favor of MERCANTILE-SAFE DEPOSIT AND TRUST COMPANY (the �Mortgagee�) as Agent under the Credit Agreement (as defined herein) for the ratable benefit of each of the financial institutions (�Banks�) as are, or . . .
1517501
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Dover Motorsports, Inc.
As referenced in this Mortgage and Security Agreement:
DOVER MOTORSPORTS, INC – are, or may from time to time become, parties to the Credit Agreement, with an address at 2 Hopkins Plaza, 5th Floor, Baltimore, Maryland 21201.
WHEREAS, the Mortgagor, together with DOVER MOTORSPORTS, INC ., GATEWAY INTERNATIONAL MOTORSPORTS CORPORATION, GATEWAY INTERNATIONAL SERVICES CORPORATION, GRAND PRIX ASSOCIATION OF LONG BEACH, INC., MEMPHIS INTERNATIONAL MOTORSPORTS CORPORATION, M&N SERVICES CORP. and NASHVILLE SPEEDWAY USA, INC. (
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dt 1324461
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International Speedway Inc.
As referenced in this Mortgage and Security Agreement:
INTERNATIONAL SPEEDWAY, INC – 2
MORTGAGE AND SECURITY AGREEMENT
THIS MORTGAGE AND SECURITY AGREEMENT (this Mortgage) is executed on the 17th day of February, 2004 and effective as of February 19, 2004, by DOVER INTERNATIONAL SPEEDWAY, INC ., formerly known as Dover Downs International Speedway, Inc. (the Mortgagor), with an address at 1131 North Dupont Highway, P.O. Box 843, Dover, Delaware 19903 in favor of MERCANTILE-
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International Speedway, Inc – SECURITY AGREEMENT (this Mortgage) is executed on the 17th day of February, 2004 and effective as of February 19, 2004, by DOVER INTERNATIONAL SPEEDWAY, INC., formerly known as Dover Downs International Speedway, Inc . (the Mortgagor), with an address at 1131 North Dupont Highway, P.O. Box 843, Dover, Delaware 19903 in favor of MERCANTILE-SAFE DEPOSIT AND TRUST COMPANY (the Mortgagee) as
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INTERNATIONAL SPEEDWAY, INC – as necessary or appropriate.
WITNESS the due execution hereof as a document under seal, as of the date first written above.
Signed, sealed and delivered in the presence of:
DOVER INTERNATIONAL SPEEDWAY, INC .,
formerly known as Dover Downs International Speedway, Inc.
By:
/s/ THOMAS G. WINTERMANTEL
(SEAL)
Print Name:
Print Name:
Thomas G. Wintermantel
Title:
Title:
Treasurer
12
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International Speedway, Inc – hereof as a document under seal, as of the date first written above.
Signed, sealed and delivered in the presence of:
DOVER INTERNATIONAL SPEEDWAY, INC.,
formerly known as Dover Downs International Speedway, Inc .
By:
/s/ THOMAS G. WINTERMANTEL
(SEAL)
Print Name:
Print Name:
Thomas G. Wintermantel
Title:
Title:
Treasurer
12
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dt 1416434
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Full Doc
| 2003 |
Mortgage and Security Agreement
Mortgage and Security Agreement (40K)
Doc #1517541: Click preview link for longer preview.
MORTGAGE AND SECURITY AGREEMENT
THIS MORTGAGE AND SECURITY AGREEMENT (this �Mortgage�) is made as of the 10th day of February, 2003, by DOVER INTERNATIONAL SPEEDWAY, INC. (the �Mortgagor�), with an address at 1131 North Dupont Highway, P.O. Box 843, Dover, Delaware 19903 in favor of PNC BANK, DELAWARE (the �Mortgagee�) as Agent under the Credit Agreement (as defined herein) for the ratable benefit of the Banks (as defined herein), with an address at 222 Delaware Avenue, Wilmington, Delaware 19841.
WHEREAS, Dover Motorsports, Inc. (the �Borrower�), the several banks . . .
1517541
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Dover Motorsports, Inc.
As referenced in this Mortgage and Security Agreement:
Dover Motorsports, Inc – as Agent under the Credit Agreement (as defined herein) for the ratable benefit of the Banks (as defined herein), with an address at 222 Delaware Avenue, Wilmington, Delaware 19841.
WHEREAS, Dover Motorsports, Inc . (the Borrower), the several banks and other financial institutions party thereto (the Banks) and the Mortgagee, as Agent for the Banks, are parties to a Credit Agreement dated as
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dt 1324465
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International Speedway Inc.
As referenced in this Mortgage and Security Agreement:
INTERNATIONAL SPEEDWAY, INC – MORTGAGE AND SECURITY AGREEMENT
Exhibit 10.5
MORTGAGE AND SECURITY AGREEMENT
THIS MORTGAGE AND SECURITY AGREEMENT (this Mortgage) is made as of the 10th day of February, 2003, by DOVER INTERNATIONAL SPEEDWAY, INC . (the Mortgagor), with an address at 1131 North Dupont Highway, P.O. Box 843, Dover, Delaware 19903 in favor of PNC BANK, DELAWARE (the Mortgagee) as Agent under the
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INTERNATIONAL SPEEDWAY, INC – as necessary or appropriate.
WITNESS the due execution hereof as a document under seal, as of the date first written above.
Signed, sealed and delivered
in the presence of:
DOVER INTERNATIONAL SPEEDWAY, INC .
/S/ BANK REPRESENTATIVE
By:
/S/ DENIS MCGLYNN
(SEAL)
Print Name:
Print Name: Denis McGlynn
Title:
(Include title only if an officer of entity signing to the right)
Title: President
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International Speedway, Inc – B
Permitted Encumbrances are those encumbrances created and existing under the following agreements:
1. The Lease Agreement dated January 15, 2002 by and between Dover Downs, Inc. and Dover Downs International Speedway, Inc .
2. The Declaration of Restrictions made January 15, 2002 by Dover Downs International Speedway, Inc. and Dover Downs, Inc.
3. The Cross Easement Agreement made January 15, 2002 by
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International Speedway, Inc – Lease Agreement dated January 15, 2002 by and between Dover Downs, Inc. and Dover Downs International Speedway, Inc.
2. The Declaration of Restrictions made January 15, 2002 by Dover Downs International Speedway, Inc . and Dover Downs, Inc.
3. The Cross Easement Agreement made January 15, 2002 by Dover Downs, Inc. and Dover International Speedway, Inc.
4. Such utility easements and encumbrances of
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International Speedway, Inc – Restrictions made January 15, 2002 by Dover Downs International Speedway, Inc. and Dover Downs, Inc.
3. The Cross Easement Agreement made January 15, 2002 by Dover Downs, Inc. and Dover International Speedway, Inc .
4. Such utility easements and encumbrances of record, excluding any Mortgages, Judgment Liens and Mechanics Liens of record.
14
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dt 1416438
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