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EDA MICRO LOAN TO CARPE KAIROS,LLC <br /> • (CUSTOM CUTTER GRINDING CORP.) <br /> Mortgagor: Carpe Kairos,LLC <br /> Address: 9423 West Highway 10 <br /> Ramsey, MN 55303 <br /> Tenant: Custom Cutter Grinding Corp. <br /> 172 XX Ulysses St. NW <br /> Elk River, MN 55330 <br /> Primary Lender: Patrick H. Dwyer, Senior Vice President <br /> The Bank of Elk River <br /> 630 Main Street <br /> Elk River, MN 55330 <br /> 441-1000 <br /> EDA Loan: $50,000.00 <br /> Rate and Term: Initial rate of 9 percent;tied to the lowest prime rate as published in <br /> the Wall Street Journal; adjusted semi-annually(at 6 month <br /> intervals); 15 year term <br /> Security: Second real estate mortgage subordinated to the real estate mortgage of <br /> • <br /> the primary lender;further secured by a Promissory Note and Guaranty of <br /> Mortgage <br /> Guarantors: Kermit Bode <br /> Curt Jacobson <br /> Legal Description: Lot 3, Block 1, Rail 10 Industrial Park <br /> • <br />