Legal Notices

STATE OF MINNESOTA COUNTY OF HENNEPIN DISTRICT COURT FOURTH JUDICIAL DISTRICT PROBATE/MENTAL HEALTH DIVISION CASE TYPE: OTHER CIVIL ___________________________________ In the Matter of the Trusteeship Under the Indenture of Trust between Charleston Building Commission and UMB Bank, N.A., as Successor Trustee Court File No.: 27-TR-CV-20-35 ORDER FOR HEARING ON PETITION OF UMB BANK, N.A. AS SUCCESSOR TRUSTEE FOR AN ORDER PURSUANT TO MINN. STAT. 501C.0202 IN THE ADMINISTRATION OF A TRUST _____________________________________ UMB Bank, N.A., not individually, but solely in its capacity as successor trustee (the “Trustee”), having filed its petition for an order pursuant to Minn. Stat. 501C.0202 in the administration of a trust as follows (capitalized terms used herein have the meanings given them in the Petition): A. Confirming that the Trustee’s execution and delivery of the Settlement Term Sheet Agreement is approved and confirmed, as being in the best interest of Bondholders, and that such course of conduct by the Trustee is prudent, authorized and permitted under the Indenture and related Bond Documents; B. Authorizing and directing the Trustee, for itself and for each Bondholder and for the Majority Bondholder Representatives, to release and covenant not to sue the Predecessor Trustee with respect to any and all claims relating to the Indenture and the Series 1996C Bonds, including any claims by Bondholders; C. Authorizing and directing the Trustee, for itself and for each Bondholder and for the Majority Bondholder Representatives, to release and covenant not to sue the Former Mall Owner, Developer and Parking Garage Entity with respect to any and all claims relating to the Indenture, the Series 1996C Bonds, the Sublease, and the Guaranty, including without limitation any claims by Bondholders; D. Declaring that the Trustee and the Majority Bondholder Representatives shall indemnify, hold harmless and defend each of the Former Mall Owner, Developer, and Parking Garage Entity from any claim or claims asserted by any Bondholder; E. Declaring that any redemption or Dutch Auction involving the Series 1996C Bonds, shall require the redeeming Bondholder to execute a full confirmatory release in favor of the Former Mall Owner, Developer, Parking Garage Entity and Predecessor Trustee; F. Authorizing and instructing the Trustee to take such other actions as are consistent with and reasonably necessary to effectuate the transactions contemplated by the Settlement Term Sheet Agreement; G. Confirming that the proposed payments to the Trustee as set forth in the Settlement Term Sheet Agreement are consistent with the terms of the Indenture and approved, and authorizing and instructing the Trustee to apply and distribute such moneys as provided for herein and therein, including without limitation first to the fees and expenses of the Trustee and expenses necessary to effectuate the Settlement consistent with the terms of the Bond Documents and the Settlement Term Sheet Agreement; H. Confirming that such course of conduct is prudent, authorized and in the best interest of the Bondholders and consistent with the terms of the Indenture and related Bond Documents, and that the Trustee’s actions comply with all applicable duties of the Trustee and are fully authorized and protected by the Indenture and related Bond Documents, and shall not subject UMB Bank, N.A., individually or as Trustee, to liability; I. Declaring the Trustee’s past and proposed actions in the administration of the Trust to be consistent with the terms of the Indenture and the Trustee’s duties and obligations thereunder to all Bondholders; J. Directing that the Trust and Trustee shall not be subject to the continuing supervision of the Court for purposes of Minn. Stat. 501C.0205 or General Rule of Practice 417.02; and K. Granting such other relief as the Court determines lawful, just and proper. IT IS ORDERED that: IT IS ORDERED, that due to the COVID-19 pandemic and pursuant to Minnesota Supreme Court Order ADM20-8001, the Petition will be heard remotely on July 1, 2020, at 2:30 p.m. by this court. The court will notify the petitioner (or the petitioner’s attorney, if applicable) with further information regarding remotely attending this hearing. If you are not the petitioner and wish to appear at the hearing to object, please contact the court by phone at (612) 348-6000 by 4:30 p.m. on June 30, 2020 so that arrangements can be made for you to appear. Additionally, if you object to the relief sought, you must file a written objection with the court administrator by 4:30 p.m. on June 30, 2020. Written objections can be mailed with the applicable filing fee to: Hennepin County District Court – Probate/Mental Health Division, 300 South Sixth Street – C4 Govt. Ctr., Minneapolis, MN 55487-0340, electronically filed in the electronic filing system or placed in the on-site drop box designated for court filings. Notice of the hearing shall be given by mailing a copy of this Notice and Order for Hearing to those current trustees and qualified beneficiaries of the trust whose identity is known and whose location is known or reasonably ascertainable to the petitioner after making reasonable efforts to locate such persons at their last known addresses by U.S. Postal Service at least 15 days prior to the deadline for an objection referenced above, and publishing this Notice and Order for Hearing one time at least 20 days prior to that date in a legal newspaper of Hennepin County, Minnesota. If a qualified beneficiary is a minor or incapacitated, notice shall be given to any representative person in accordance with Minnesota Statutes 501C.0301 to 501C.0305, acting on behalf of the qualified beneficiary who is known to the petitioner. Upon mailing this Order and the Petition to the parties listed herein, and publishing this Order as described above, the Trustee shall file affidavits of mailing and publication attesting to the mailed and published notice given and such affidavits shall constitute evidence of notice satisfying the requirements of Minn. Stat. 501C.0202 and 501C.0203. BY THE COURT: Philip C Carruthers 5/26/20 Judge of District Court Date Prepared by: William P. Wassweiler Ballard Spahr, LLP 2000 IDS Center 80 South 8th Street Minneapolis, MN 55402 Telephone: (612) 371-3289 Facsimile: (612) 371-3207 LC-93184 6-2;2020