Exhibit 10.9 |
PARTIAL RELEASE OF LIENS AND SECURITY INTERESTS |
STATE OF TEXAS ) |
WHEREAS, the undersigned,GUARANTY BANK, FSB, with banking quarters in Houston, Harris County, Texas, and whose mailing address is 333 Clay Street, Suite 4400, Houston, Texas 77002-4103 ("Mortgagee"), is the mortgagee and secured party under those certain security instruments executed byTHE EXPLORATION COMPANY OF DELAWARE, INC. ("Mortgagor"), more particularly described onExhibit A attached hereto and incorporated herein for all purposes by this reference (the "Security Instruments"), reference being made to the Security Instruments and the record thereof for all purposes; |
WHEREAS, the liens and security interests created by the Security Instruments exist against, among other property, the properties described inExhibit Battached hereto and incorporated herein for all purposes by this reference (the"Subject Property"); and |
WHEREAS, Mortgagee desires to release the liens and security interests existing under the Security Instruments, insofar only as same relate to and cover the Subject Property. |
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Mortgagee has RELEASED, DISCHARGED, RETRANS-FERRED and REASSIGNED, without warranty or recourse, and by these presents does hereby RELEASE, DISCHARGE, RETRANSFER and REASSIGN, without warranty or recourse, the Subject Property from all liens and security interests held by Mortgagee, including, without limitation, the liens and security interests created by the Security Instruments, together with any and all rights that Mortgagee may now or hereafter have to establish or enforce any of such liens or security interests against the Subject Property as security for the payment of any other or future indebtedness of Mortgagor. |
It is expressly agreed and understood that this is a partial release and that it shall in no manner release, affect or impair the liens and security interests in favor of Mortgagee, under the Security Instruments or otherwise, against any property other than the Subject Property. |
IN WITNESS WHEREOF, this Partial Release of Liens and Security Interests is executed on the date of the acknowledgment below, but effective as of September 1, 2005. | ||
GUARANTY BANK FSB | ||
By:__ _/s/ Arthur R. Gralla, Jr._______ | ||
Arthur R. Gralla, Jr. | ||
Managing Director | ||
STATE OF TEXAS ) | ||
) | ||
COUNTY OF HARRIS ) | ||
BEFORE ME, the undersigned authority, on this day personally appeared Arthur R. Gralla, Jr., Managing Director ofGUARANTY BANK, FSB, a federal savings bank, known to me to be the person Whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed, as the act and deed of such savings bank, and in the capacity therein stated. | ||
GIVEN UNDER MY HAND AND SEAL OF OFFICE this 29th day of September, | ||
2005. | ||
_/s/ Michelle Ochoa Murray___________ | ||
NOTARY PUBLIC in and for the State of Texas | ||
My Comm. Exp. 06-01-2009 | ||
2 |
EXHIBIT A | ||
TO | ||
PARTIAL RELEASE OF LIENS AND SECURITY INTERESTS | ||
SECURITY INSTRUMENTS | ||
1. Mortgage, Deed of Trust, Security Agreement, Financing Statement and Assignment of | ||
JURISDICTION | FILING DATA | |
Dimmit County | Filed July 14, 2004, under Clerk's Doc. | |
Maverick County | Filed July 9, 2004, under Clerk's Doc. | |
| ||
2. UCC-1 Financing Statement from The Exploration Company of Delaware, Inc., as | ||
Debtor and Guaranty Bank, FSB, as Secured Party, filed and recorded as follows: | ||
JURISDICTION | FILING DATA | |
DELAWARE | ||
Secretary of State | Filed July 9, 2004, as Financing Statement | |
3. Ratification of and Amendment to Mortgage, Deed of Trust, Security Agreement, Financing Statement and Assignment of Production dated effective March 30, 2005, from The Exploration Company of Delaware, Inc., to Arthur R. Gralla, Jr., Trustee for the benefit of Guaranty Bank, FSB, filed and recorded as follows: | ||
JURISDICTION | FILING DATA | |
TEXAS | ||
Maverick County | Filed April 18, 2005, as Document No. | |
A-i |
4. UCC-3 Financing Statement from The Exploration Company of Delaware, Inc., as Debtor, to Guaranty Bank, FSB, as Secured Party (relating to the Ratification of and Amendment to Mortgage), filed and recorded as follows: | ||
JURISDICTION | FILING DATA | |
DELAWARE | ||
Secretary of State | Filed April 18, 2005, as Financing | |
A-ii |
EXHIBIT B |
to |
Partial Release of Liens and Security Interests |
by Guaranty Bank, FSB |
All properties assigned by Mortgagor in the following Assignments, which are |
hereby incorporated by reference: |
1. Partial Assignment of Oil, Gas and Mineral Leases dated effective September 1, |
2. Assignment, Bill of Sale and Conveyance dated effective September 1, 2005, executed by The Exploration Company of Delaware, Inc., a Delaware corporation., as Assignor, and EnCana Oil & Gas (USA) Inc., a Delaware corporation, as Assignee, to be filed of record in the Official Public Records of Maverick, Dimmit and Zavala Counties, Texas, pertaining to certain interests in the so-called "Southern Lands." |
3. Assignment dated effective September 1, 2005, executed by The Exploration |
B-i |