FR EA
1020-00001 · Client 1020 · Diligence
real-property-collateral-schedule.xlsx DOCUMENT M&A / Corporate
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Contract analysis Extract to table

[sheet: Cover]

FieldValue
Document TitleReal Property Collateral Schedule
Matter No.1020-00001
Billing CodeGAPABF-2022
BorrowerGreenfield Agricultural Partners LLC
Facility$80,000,000 Senior Secured Asset-Based Revolving Credit Facility
Administrative Agent / Collateral AgentHeartland Commerce Bank, National Association
Lender's CounselKessler, Brandt & Whitfield LLP
Borrower's CounselCalderwood & Harkness LLP
Prepared ByDaniel Obi, Working Associate, Banking & Finance
Reviewed BySophie Tremblay, Lead Associate, Banking & Finance
Date PreparedNovember 4, 2022
Last UpdatedNovember 10, 2022
PurposeSchedule of all owned real property constituting collateral under the proposed Mortgage, Assignment of Leases and Rents, and Security Agreement in favor of Heartland Commerce Bank, N.A. as Collateral Agent
Aggregate Appraised Value$64,800,000
Total Properties17 (14 grain elevator sites + 3 regional distribution centers)

[sheet: Grain Elevator Sites]

Site No.Property Name / DescriptionOwner EntityOwner EINStreet AddressCityCountyStateZip CodeParcel ID / Tax ID No.Appraised Value ($)Appraisal DateAppraiserAcreagePrimary StructuresStorage Capacity (bushels)Existing Mortgage LienholderExisting Mortgage Recording InfoProposed Mortgage Recording CountyProposed Mortgage FormNotes
1Des Moines Central ElevatorGreenfield Grain Storage LLC84-20934174200 Grand Prairie BoulevardDes MoinesPolkIowa50309090-01234-00062000002022-09-15Pryor & Associates LLC12.5Concrete elevator (6 bins), office, truck scale2800000Prairie National Bank, N.A.Polk County, Iowa — Book 14287, Page 312Polk County, IowaIowa FormHeadquarters-adjacent site
2Ankeny Grain TerminalGreenfield Grain Storage LLC84-20934171850 SE Oralabor RoadAnkenyPolkIowa50021090-05678-00054000002022-09-15Pryor & Associates LLC18Steel bins (8), receiving pit, grain dryer3500000Prairie National Bank, N.A.Polk County, Iowa — Book 14287, Page 345Polk County, IowaIowa Form
3Ames North ElevatorGreenfield Grain Storage LLC84-20934173100 Lincoln WayAmesStoryIowa50010091-02345-00048000002022-09-15Pryor & Associates LLC15.2Concrete elevator (4 bins), flat storage building2200000Prairie National Bank, N.A.Story County, Iowa — Book 8923, Page 108Story County, IowaIowa Form
4Marshalltownalltown ElevatorGreenfield Grain Storage LLC84-2093417720 South 3rd AvenueMarshalltownalltownMarshallIowa50158092-03456-00039000002022-09-15Pryor & Associates LLC10.8Steel bins (5), truck dump, leg system1800000Prairie National Bank, N.A.Marshall County, Iowa — Book 6712, Page 221Marshall County, IowaIowa Form
5Fort Dodge ElevatorGreenfield Grain Storage LLC84-20934172400 Central AvenueFort DodgeWebsterIowa50501093-04567-00042000002022-09-15Pryor & Associates LLC14Concrete elevator (5 bins), grain dryer, scale house2400000Prairie National Bank, N.A.Webster County, Iowa — Book 5634, Page 078Webster County, IowaIowa Form
6Carroll Grain FacilityGreenfield Grain Storage LLC84-20934171100 West Highway 30CarrollCarrollIowa51401094-05678-00036000002022-09-15Pryor & Associates LLC11.5Steel bins (6), receiving station, office2000000Prairie National Bank, N.A.Carroll County, Iowa — Book 4321, Page 156Carroll County, IowaIowa Form
7Newton ElevatorGreenfield Grain Storage LLC84-2093417890 1st Avenue WestNewtonJasperIowa50208095-06789-00034000002022-09-15Pryor & Associates LLC9.6Concrete elevator (3 bins), flat storage1600000Prairie National Bank, N.A.Jasper County, Iowa — Book 7845, Page 290Jasper County, IowaIowa Form
8Grinnell ElevatorGreenfield Grain Storage LLC84-2093417450 Industrial ParkwayGrinnellPoweshiekIowa50112096-07890-00032000002022-09-15Pryor & Associates LLC8.4Steel bins (4), truck scale, dryer1500000Prairie National Bank, N.A.Poweshiek County, Iowa — Book 3456, Page 412Poweshiek County, IowaIowa Form
9Boone ElevatorGreenfield Grain Storage LLC84-20934171600 South marshall StreetBooneBooneIowa50036097-08901-00038000002022-09-15Pryor & Associates LLC13.2Concrete elevator (4 bins), leg system, office2100000Prairie National Bank, N.A.Boone County, Iowa — Book 5123, Page 067Boone County, IowaIowa Form
10Jefferson ElevatorGreenfield Grain Storage LLC84-2093417200 South Chestnut StreetJeffersonGreeneIowa50129098-09012-00028000002022-09-15Pryor & Associates LLC7.8Steel bins (3), receiving pit1200000Prairie National Bank, N.A.Greene County, Iowa — Book 2890, Page 189Greene County, IowaIowa Form
11Indianola ElevatorGreenfield Grain Storage LLC84-2093417950 East Hillcrest AvenueIndianolaWarrenIowa50125099-10123-00035000002022-09-15Pryor & Associates LLC10Concrete elevator (4 bins), flat storage, scale1900000Prairie National Bank, N.A.Warren County, Iowa — Book 6234, Page 334Warren County, IowaIowa Form
12Perry ElevatorGreenfield Grain Storage LLC84-20934171200 Willis AvenuePerryDallasIowa50220100-11234-00031000002022-09-15Pryor & Associates LLC9Steel bins (5), dryer, truck dump1700000Prairie National Bank, N.A.Dallas County, Iowa — Book 4567, Page 245Dallas County, IowaIowa Form
13Pella Grain FacilityGreenfield Grain Storage LLC84-2093417700 East Oskaloosa StreetPellaMarionIowa50219101-12345-00033000002022-09-15Pryor & Associates LLC8.7Concrete elevator (3 bins), scale house, office1400000Prairie National Bank, N.A.Marion County, Iowa — Book 3789, Page 167Marion County, IowaIowa Form
14Winterset ElevatorGreenfield Grain Storage LLC84-2093417305 North 1st StreetWintersetMadisonIowa50273102-13456-00029000002022-09-15Pryor & Associates LLC7.5Steel bins (4), receiving station1300000Prairie National Bank, N.A.Madison County, Iowa — Book 2678, Page 098Madison County, IowaIowa Form
Subtotal — Grain Elevator Sites54100000156.227400000

[sheet: Distribution Centers]

Site No.Property Name / DescriptionOwner EntityOwner EINStreet AddressCityCountyStateZip CodeParcel ID / Tax ID No.Appraised Value ($)Appraisal DateAppraiserAcreagePrimary StructuresExisting Mortgage LienholderExisting Mortgage Recording InfoProposed Mortgage Recording CountyProposed Mortgage FormNotes
15Bloomington Distribution CenterGreenfield Crop Inputs Inc.37-6182049780 Commerce DriveBloomingtonMcLeanIllinois6170117-22-300-01542000002022-09-15Pryor & Associates LLC22Warehouse (85,000 sq ft), loading docks, chemical storage, office buildingPrairie National Bank, N.A.McLean County, Illinois — Doc. No. 2018-R-04521McLean County, IllinoisIllinois FormCrop-input distribution hub; Illinois SOS File No. 08294731
16Des Moines Regional Distribution CenterGreenfield Grain Storage LLC84-20934175200 SE Connector DriveDes MoinesPolkIowa50317090-14567-00038000002022-09-15Pryor & Associates LLC18.5Distribution warehouse (72,000 sq ft), cold storage, truck yardPrairie National Bank, N.A.Polk County, Iowa — Book 14287, Page 378Polk County, IowaIowa FormServes central Iowa operations
17Cedar Rapids Distribution CenterGreenfield Grain Storage LLC84-20934173100 Williams Boulevard SWCedar RapidsLinnIowa52404110-15678-00027000002022-09-15Pryor & Associates LLC14Distribution warehouse (58,000 sq ft), seed storage, officePrairie National Bank, N.A.Linn County, Iowa — Book 9012, Page 234Linn County, IowaIowa FormServes eastern Iowa and Indiana markets
Subtotal — Distribution Centers1070000054.5

[sheet: Summary]

Category

By Property Type

Grain Elevator Sites1454100000
Regional Distribution Centers310700000
Total — All Properties1764800000

By Owner Entity

Greenfield Grain Storage LLC (EIN: 84-2093417)1660600000
Greenfield Crop Inputs Inc. (EIN: 37-6182049)14200000
Total — All Properties1764800000

By State

Iowa1660600000
Illinois14200000
Total — All Properties1764800000

Mortgage Recording Jurisdictions

Polk County, Iowa421600000
Story County, Iowa14800000
Marshall County, Iowa13900000
Webster County, Iowa14200000
Carroll County, Iowa13600000
Jasper County, Iowa13400000
Poweshiek County, Iowa13200000
Boone County, Iowa13800000
Greene County, Iowa12800000
Warren County, Iowa13500000
Dallas County, Iowa13100000
Marion County, Iowa13300000
Madison County, Iowa12900000
Linn County, Iowa12700000
McLean County, Illinois14200000
Total — All Recording Jurisdictions1764800000

[sheet: Existing Liens]

LienholderLien TypeFiling / Recording JurisdictionFiling / Recording No.Filing / Recording DateProperties CoveredOutstanding Obligation (as of 9/30/2022)Action Required for ReleaseNotes
Prairie National Bank, N.A.UCC-1 Financing StatementIowa Secretary of State2018-00417292018-04-02All personal property of Greenfield Agricultural Partners LLC (blanket lien)38750000UCC-3 Termination Statement to be filed by PNB upon payoffContinuation filed March 2023 upon renewal with PNB
Prairie National Bank, N.A.UCC-1 Financing StatementIowa Secretary of State2018-00417302018-04-02All personal property of Greenfield Grain Storage LLC (blanket lien)UCC-3 Termination Statement to be filed by PNB upon payoffFiled concurrently with Filing No. 2018-0041729
Prairie National Bank, N.A.UCC-1 Financing StatementIllinois Secretary of State2018-05273412018-04-02All personal property of Greenfield Crop Inputs Inc. (blanket lien)UCC-3 Termination Statement to be filed by PNB upon payoffIllinois SOS File No. 08294731
Prairie National Bank, N.A.MortgagePolk County, IowaBook 14287, Page 3122018-04-02Des Moines Central Elevator — 4200 Grand Prairie BoulevardSatisfaction / Release of Mortgage to be recorded by PNBPart of existing $55,000,000 Revolving Credit Agreement dated April 1, 2018
Prairie National Bank, N.A.MortgagePolk County, IowaBook 14287, Page 3452018-04-02Ankeny Grain Terminal — 1850 SE Oralabor RoadSatisfaction / Release of Mortgage to be recorded by PNB
Prairie National Bank, N.A.MortgagePolk County, IowaBook 14287, Page 3782018-04-02Des Moines Regional Distribution Center — 5200 SE Connector DriveSatisfaction / Release of Mortgage to be recorded by PNB
Prairie National Bank, N.A.MortgageStory County, IowaBook 8923, Page 1082018-04-02Ames North Elevator — 3100 Lincoln WaySatisfaction / Release of Mortgage to be recorded by PNB
Prairie National Bank, N.A.MortgageMarshall County, IowaBook 6712, Page 2212018-04-02Marshalltownalltown Elevator — 720 South 3rd AvenueSatisfaction / Release of Mortgage to be recorded by PNB
Prairie National Bank, N.A.MortgageWebster County, IowaBook 5634, Page 0782018-04-02Fort Dodge Elevator — 2400 Central AvenueSatisfaction / Release of Mortgage to be recorded by PNB
Prairie National Bank, N.A.MortgageCarroll County, IowaBook 4321, Page 1562018-04-02Carroll Grain Facility — 1100 West Highway 30Satisfaction / Release of Mortgage to be recorded by PNB
Prairie National Bank, N.A.MortgageJasper County, IowaBook 7845, Page 2902018-04-02Newton Elevator — 890 1st Avenue WestSatisfaction / Release of Mortgage to be recorded by PNB
Prairie National Bank, N.A.MortgagePoweshiek County, IowaBook 3456, Page 4122018-04-02Grinnell Elevator — 450 Industrial ParkwaySatisfaction / Release of Mortgage to be recorded by PNB
Prairie National Bank, N.A.MortgageBoone County, IowaBook 5123, Page 0672018-04-02Boone Elevator — 1600 South marshall StreetSatisfaction / Release of Mortgage to be recorded by PNB
Prairie National Bank, N.A.MortgageGreene County, IowaBook 2890, Page 1892018-04-02Jefferson Elevator — 200 South Chestnut StreetSatisfaction / Release of Mortgage to be recorded by PNB
Prairie National Bank, N.A.MortgageWarren County, IowaBook 6234, Page 3342018-04-02Indianola Elevator — 950 East Hillcrest AvenueSatisfaction / Release of Mortgage to be recorded by PNB
Prairie National Bank, N.A.MortgageDallas County, IowaBook 4567, Page 2452018-04-02Perry Elevator — 1200 Willis AvenueSatisfaction / Release of Mortgage to be recorded by PNB
Prairie National Bank, N.A.MortgageMarion County, IowaBook 3789, Page 1672018-04-02Pella Grain Facility — 700 East Oskaloosa StreetSatisfaction / Release of Mortgage to be recorded by PNB
Prairie National Bank, N.A.MortgageMadison County, IowaBook 2678, Page 0982018-04-02Winterset Elevator — 305 North 1st StreetSatisfaction / Release of Mortgage to be recorded by PNB
Prairie National Bank, N.A.MortgageLinn County, IowaBook 9012, Page 2342018-04-02Cedar Rapids Distribution Center — 3100 Williams Boulevard SWSatisfaction / Release of Mortgage to be recorded by PNB
Prairie National Bank, N.A.MortgageMcLean County, IllinoisDoc. No. 2018-R-045212018-04-02Bloomington Distribution Center — 780 Commerce DriveRelease of Mortgage to be recorded by PNBIllinois property — Greenfield Crop Inputs Inc.

[sheet: Proposed Filings]

Filing No.Document TypeRecording JurisdictionGrantor EntityGrantee / Secured PartyProperties CoveredMortgage FormResponsible Party for PreparationStatusNotes
1Mortgage, Assignment of Leases and Rents, and Security AgreementPolk County, IowaGreenfield Grain Storage LLCHeartland Commerce Bank, N.A., as Collateral AgentDes Moines Central Elevator; Ankeny Grain Terminal; Des Moines Regional Distribution CenterIowa FormCalderwood & Harkness LLP (Daniel Obi)Draft Prepared — November 4, 2022Covers 3 Polk County properties; aggregate appraised value $21,600,000
2Mortgage, Assignment of Leases and Rents, and Security AgreementStory County, IowaGreenfield Grain Storage LLCHeartland Commerce Bank, N.A., as Collateral AgentAmes North ElevatorIowa FormCalderwood & Harkness LLP (Daniel Obi)Draft Prepared — November 4, 2022
3Mortgage, Assignment of Leases and Rents, and Security AgreementMarshall County, IowaGreenfield Grain Storage LLCHeartland Commerce Bank, N.A., as Collateral AgentMarshalltownalltown ElevatorIowa FormCalderwood & Harkness LLP (Daniel Obi)Draft Prepared — November 4, 2022
4Mortgage, Assignment of Leases and Rents, and Security AgreementWebster County, IowaGreenfield Grain Storage LLCHeartland Commerce Bank, N.A., as Collateral AgentFort Dodge ElevatorIowa FormCalderwood & Harkness LLP (Daniel Obi)Draft Prepared — November 4, 2022
5Mortgage, Assignment of Leases and Rents, and Security AgreementCarroll County, IowaGreenfield Grain Storage LLCHeartland Commerce Bank, N.A., as Collateral AgentCarroll Grain FacilityIowa FormCalderwood & Harkness LLP (Daniel Obi)Draft Prepared — November 4, 2022
6Mortgage, Assignment of Leases and Rents, and Security AgreementJasper County, IowaGreenfield Grain Storage LLCHeartland Commerce Bank, N.A., as Collateral AgentNewton ElevatorIowa FormCalderwood & Harkness LLP (Daniel Obi)Draft Prepared — November 4, 2022
7Mortgage, Assignment of Leases and Rents, and Security AgreementPoweshiek County, IowaGreenfield Grain Storage LLCHeartland Commerce Bank, N.A., as Collateral AgentGrinnell ElevatorIowa FormCalderwood & Harkness LLP (Daniel Obi)Draft Prepared — November 4, 2022
8Mortgage, Assignment of Leases and Rents, and Security AgreementBoone County, IowaGreenfield Grain Storage LLCHeartland Commerce Bank, N.A., as Collateral AgentBoone ElevatorIowa FormCalderwood & Harkness LLP (Daniel Obi)Draft Prepared — November 4, 2022
9Mortgage, Assignment of Leases and Rents, and Security AgreementGreene County, IowaGreenfield Grain Storage LLCHeartland Commerce Bank, N.A., as Collateral AgentJefferson ElevatorIowa FormCalderwood & Harkness LLP (Daniel Obi)Draft Prepared — November 4, 2022
10Mortgage, Assignment of Leases and Rents, and Security AgreementWarren County, IowaGreenfield Grain Storage LLCHeartland Commerce Bank, N.A., as Collateral AgentIndianola ElevatorIowa FormCalderwood & Harkness LLP (Daniel Obi)Draft Prepared — November 4, 2022
11Mortgage, Assignment of Leases and Rents, and Security AgreementDallas County, IowaGreenfield Grain Storage LLCHeartland Commerce Bank, N.A., as Collateral AgentPerry ElevatorIowa FormCalderwood & Harkness LLP (Daniel Obi)Draft Prepared — November 4, 2022
12Mortgage, Assignment of Leases and Rents, and Security AgreementMarion County, IowaGreenfield Grain Storage LLCHeartland Commerce Bank, N.A., as Collateral AgentPella Grain FacilityIowa FormCalderwood & Harkness LLP (Daniel Obi)Draft Prepared — November 4, 2022
13Mortgage, Assignment of Leases and Rents, and Security AgreementMadison County, IowaGreenfield Grain Storage LLCHeartland Commerce Bank, N.A., as Collateral AgentWinterset ElevatorIowa FormCalderwood & Harkness LLP (Daniel Obi)Draft Prepared — November 4, 2022
14Mortgage, Assignment of Leases and Rents, and Security AgreementLinn County, IowaGreenfield Grain Storage LLCHeartland Commerce Bank, N.A., as Collateral AgentCedar Rapids Distribution CenterIowa FormCalderwood & Harkness LLP (Daniel Obi)Draft Prepared — November 4, 2022
15Mortgage, Assignment of Leases and Rents, and Security AgreementMcLean County, IllinoisGreenfield Crop Inputs Inc.Heartland Commerce Bank, N.A., as Collateral AgentBloomington Distribution Center — 780 Commerce Drive, Bloomington, IL 61701Illinois FormCalderwood & Harkness LLP (Daniel Obi)Draft Prepared — November 4, 2022Illinois-form mortgage; separate from Iowa form
16UCC-1 Financing Statement (fixture filing)Iowa Secretary of StateGreenfield Agricultural Partners LLCHeartland Commerce Bank, N.A., as Collateral AgentAll Iowa real property collateral (14 grain elevator sites + 2 Iowa distribution centers)N/A — UCC FormCalderwood & Harkness LLP (Daniel Obi)Draft Prepared — November 4, 2022Blanket fixture filing to perfect security interest in fixtures
17UCC-1 Financing Statement (fixture filing)Illinois Secretary of StateGreenfield Crop Inputs Inc.Heartland Commerce Bank, N.A., as Collateral AgentBloomington Distribution Center fixturesN/A — UCC FormCalderwood & Harkness LLP (Daniel Obi)Draft Prepared — November 4, 2022Illinois fixture filing for Bloomington property