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RELEASE OF MORTGAGE <br />Dated: April __, 2016 <br /> THAT MORTGAGE, SECURITY AGREEMENT AND FIXTURE FINANCING <br />STATEMENT dated ________, 2016 (the “Mortgage”), from Preferred Powder Coating, LLC, a <br />Minnesota limited liability company (the “Mortgagor”), in favor of the Economic Development <br />Authority of the City of Elk River, a public body corporate and politic of the State of Minnesota <br />(the “Mortgagee”), recorded in the office of the Recorder of Sherburne County, Minnesota, on <br />September __, 2013, as Document No. __________, is, for valuable consideration, terminated <br />and released in accordance with its terms. <br />(The remainder of this page is intentionally left blank.) <br />478254v1 JSB EL185-22 <br /> <br />