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ENVIRONMENTALINDEMNIFICATIONAGREEMENT <br />THIS AGREEMENT is made as of the ___ day of ______, 2016, by F & M Properties, <br />LLC, a Minnesota limited liability company(“Borrower”) and ECONOMIC DEVELOPMENT <br />AUTHORITY OF THE CITY OF ELK RIVER, a public body corporate and politic of the State <br />of Minnesota(“Lender”). <br />RECITALS <br />A.Lender has agreed to lend to Borrower the sum of up to $185,200.00(the <br />“Loan”). <br />B.The Loan is secured by, among other things,an Mortgage and Assignment of <br />Rents and Security Agreement and Fixture Financing Statement dated even herewith (the <br />“Mortgage”) pertaining to certain land described in the Mortgage and improvements thereon <br />(collectively, the “Property”) owned by Borrower and located in Sherburne County, Minnesota; <br />the personal guaranties of Michael T. Tracey and Fred M. Trapp; and a Security Agreement in <br />certain equipment and entity guaranty from Die Concepts, Inc. <br />C.Lender has refused to make the Loan to Borrower unless this Agreement is <br />executed and delivered by Borrower. <br />AGREEMENT <br />NOW, THEREFORE, in consideration of Lender’s agreement to make the Loan to <br />Borrower, Borrower hereby warrants and represents to, and covenants and agrees with, Lender as <br />follows: <br />1.Definitions.As used in this Agreement, the following terms shall have the <br />following meanings: <br />(a)“Environmental Regulation” means a Law relating to the environment and/or to <br />human health or safety, or governing, regulating or pertaining to the generation, <br />treatment, storage, handling, transportation, use or disposal of any Hazardous <br />Substance. <br />1 <br />477339v4 MJM EL185-40 <br /> <br />