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CERTIFICATE OF FORGIVENESS <br /> April_,2016 <br /> WHEREAS, the Economic Development Authority of the City of Elk River (the <br /> "EDA"), a body corporate and politic subdivision of the State of Minnesota and Sportech, Inc., a <br /> Minnesota corporation (the "Borrower") have entered into a Loan Agreement dated April 25, <br /> 2014 (the"Loan Agreement"); and <br /> WHEREAS,the Loan Agreement requires the Borrower to meet certain conditions as set <br /> forth in the Loan Agreement; <br /> WHEREAS, the Borrower has met the conditions set forth in the Loan Agreement to <br /> forgive the loan; <br /> NOW, THEREFORE, 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 /> (a) Promissory Note marked cancelled; <br /> (b) the Personal Guaranty and Entity Guaranty(as defined in the Loan Agreement)to the <br /> Borrower; and <br /> (c) UCC Termination Statement(to be completed and filed in the Borrower's discretion). <br /> 478255v1 JSB EL185-31 1 <br />