Case No. 02-B02474 Jointly Administered.United States Bankruptcy Court, N.D. Illinois, Eastern Division.
September 27, 2004
AGREED ORDER RESOLVING CURE CLAIM FOR KMART STORE NO. 3043
SUSAN SONDERBY, Chief Judge, Bankruptcy
Upon consideration of the cure claim (“Cure Claim”) filed by GMAC Commercial Mortgage Corp. (“GMAC”), as servicer under that certain Pooling and Servicing Agreement by and among Wells Fargo Bank Minnesota, N.A., as Trustee and Securities Intermediary, GMAC Commercial Mortgage Corporation, as Master Servicer, GMAC Commercial Mortgage Securities, Inc., as Depositor, and GMAC Commercial Mortgage Corporation, as Special Servicer, dated as of August 1, 2000 (Mortgage Pass-Through Certificates, Series 2000-C2) (the “Trust”), which Trust holds a mortgage and an assignment of leases and rents on the property described as Store No. 3043, Aurora, CO., which property is leased by Watkins Investments, L.P. (the “Borrower”) to Kmart Corporation (“Kmart”), Kmart having filed an objection to such Cure Claim; and the Court being advised that the GMAC and Kmart have resolved the Cure Claim; and after due deliberation and sufficient cause appearing therefore; it is hereby
ORDERED that GMAC shall have an allowed Cure Claim for Store No. 3043 in the agreed amount of $1,156.95, which shall be paid by Kmart within 10 days of the date of entry of this Order. Payment shall be payable and sent to GMAC, c/o Robert Estes, Esq., 200 Witmer Rd., Horsham, PA 19044 by overnight or second business day mail delivery; and it is further
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ORDERED that GMAC and the Borrower (including any assignees, designees or successors in interest) are forever barred from asserting, collecting, or seeking to collect any amounts which were due and payable by Kmart under the terms of the Lease on or before May 6, 2003.
ORDERED that nothing herein shall affect the rights of GMAC, the Trustee and/or the Trust against the Borrower or any other parties liable to it under the Trust and/or the related loan documents, including without limitation, the lease, the assignment of leases and rents, notes, mortgages, or any other agreements, documents or instruments (collectively, the “Loan Documents”), or under applicable law, and that nothing herein shall constitute an election of remedies by GMAC, the Trustee, and/or the Trust, or a waiver of any past, present or future defaults or events of default; and it is further
ORDERED that nothing herein shall relieve the Borrower of any of its monetary and/or non-monetary obligations under the Trust, the Loan Documents or under applicable law.
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