6.9 EDSR 01-19-2016 - Laserfiche WebLink

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The Loan proceeds will be used only towards the cost of acquisition of equipment to be used at the Loan Property. 2. Equipment and Security Interest. The Entity Guarantor has provided Lender a preliminary list of the Equipment to be acquired with the proceeds of the Loan that shall be subject to the first lien Equipment Security Interest, which is attached as Exhibit A. The Security Agreement will provide Lender with a first priority security interest in such Equipment and a second priority security interest in all other Equipment of the Entity Guarantor located in Minnesota. 3. Documents to be Delivered. Borrower covenants and agrees to immediately cause the compliance with the following conditions: (a) Note. Deliver to Lender the Note. (b) Security Agreemen . Deliver to Lender the Security Agreement, together with evidence that a UCC -1 Financing Statement has been or will be duty filed for record. (c) Personal Guaranty. Deliver to Lender the Personal Guaranty. (d) Entity Guaranty. Deliver to Lender the Entity Guaranty. (e) Organizational Documents and Resolutions. Deliver to Lender copies of the (i) articles of organization for Borrower certified by the Minnesota Secretary of State, (ii) certificate of good standing for Borrower issued by the Minnesota Secretary of State; (iii) Borrower's operating agreement, member control agreement and bylaws; and (iv) certified resolutions of Borrower authorizing the execution and delivery of this Agreement, the Note and any other document to be executed by Borrower pursuant to this Agreement. (f) Organizational Documents and Resolutions. Deliver to Lender copies of the (i) articles of incorporation for Entity Guarantor certified by the Minnesota Secretary of State, (ii) certificate of good standing for Entity Guarantor issued by the Minnesota Secretary of State; (iii) Entity Guarantor's bylaws; and (iv) certified resolutions of Entity Guarantor authorizing the execution and delivery of the Entity Guaranty, the Security Agreement and any other document to be executed by Entity Guarantor pursuant to this Agreement. (g) Insurance. Deliver to Lender: (i) a certificate or policy for all insurance required, under the terms hereof to be maintained by Borrower; and (ii) evidence that no part of the Loan Property is located in an area designated as being a flood plain or flood hazard area as defined by the Flood Hazard Boundary Map published by the Federal Insurance Administration. 2 473881v2 ELI 85-39