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CERTIFICATE OF FORGIVENESS <br />December ___, 2015 <br /> <br />WHEREAS <br />, the Economic Development Authority of Elk River, Minnesota (the <br />“EDA”), a body corporate and politic subdivision of the State of Minnesota and Alliance <br />Machine, Inc., a Minnesota corporation (the “Borrower”) have entered into a Loan Agreement <br />dated June 17, 2013 (the “Loan Agreement”); and <br />WHEREAS, <br /> the Loan Agreement requires the Borrower to meet certain conditions as set <br />forth in the Loan Agreement; <br />WHEREAS, <br /> the Borrower has met the conditions set forth in the Loan Agreement to <br />forgive the loan; <br />NOW, THEREFORE, <br /> this is to certify that the Borrower has met the conditions set <br />forth in the Loan Agreement to forgive the loan. As a result, the EDA shall forgive all <br />outstanding principal and interest due on the loan and relieve the Borrower of all further <br />obligations under the Loan Agreement and deliver to the Borrower the following: <br /> <br />(a)Promissory Note marked cancelled; <br /> <br />(b)the Guaranty (as defined in the Loan Agreement) to the Borrower; and <br /> <br />(c)UCC Termination Statement (to be completed and filed in the Borrower’s discretion). <br />IN WITNESS WHEREOF, <br /> the Economic Development Authority of Elk River, <br />Minnesota has caused this Certificate of Forgiveness to be executed with by its duly authorized <br />officer as of the date first written above. <br /> ECONOMIC DEVELOPMENT <br />AUTHORITY OF ELK RIVER, <br />MINNESOTA <br /> <br /> By <br /> President <br /> <br /> <br />By <br /> Executive Director <br /> <br />472797v1 JSB EL185-13 <br />1 <br />