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B. McDonald and Borrower own all of the Mortgaged Property (hereafter
<br /> defined), and are executing and delivering this Mortgage to Mortgagee as security for
<br /> payment of the Note.
<br /> NOW THEREFORE, in consideration of the Recitals and for the purpose of
<br /> securing the repayment of all advances made under the Note; all other sums which may
<br /> be advanced by Mortgagee in accordance with this Mortgage, and all interest
<br /> (collectively "Indebtedness"); and to secure the performance of all covenants, conditions
<br /> and agreements herein and in the Note, Mortgagor does hereby mortgage, grant, bargain,
<br /> sell, release and convey unto Mortgagee, with power of sale, forever all of Mortgagor's
<br /> right, title and interest in all the tracts or parcels of land lying and being in Sherburne
<br /> County, Minnesota, legally described in Exhibit A hereto, (hereinafter the "Land"),
<br /> whether now owned or hereafter acquired, together with (i) all building materials,
<br /> supplies and equipment now or hereafter located on the Land and suitable or intended to
<br /> be incorporated in any building, structure, or other improvement located or to be erected
<br /> on the Land; and (ii) all of the buildings, structures and other improvements now standing
<br /> or at any time hereafter constructed or placed upon the Land; and (iii) all heating,
<br /> plumbing and lighting apparatus, motors, engines, and machinery, electrical equipment,
<br /> incinerator apparatus, air conditioning equipment, water and gas apparatus, pipes,
<br /> faucets, and all other fixtures of every description which are now or may hereafter be
<br /> placed or used upon the Land or in any building or improvement now or hereafter located
<br /> thereon; and (iv) all additions, accessions, increases, parts, fittings, accessories,
<br /> replacements, substitutions, betterments, repairs and proceeds to any and all of the
<br /> foregoing; and (v) all hereditaments, easements, appurtenances, estates, rents, issues,
<br /> profits, condemnation awards, proceeds of policies of insurance and other rights and
<br /> interests now or hereafter belonging or in any way pertaining to the Land or to any
<br /> building or improvement now or hereafter located thereon; and (vi) all leases or other
<br /> occupancy agreements now or hereafter in effect in any way appertaining to the Land or
<br /> to any building or improvement now or hereafter located thereon, including, without
<br /> limitation, all cash and security deposits, advance rentals and deposits or payments of a
<br /> similar nature ("Leases"), and all Rents (as herein defined) (all of the foregoing, together
<br /> with the Land, hereinafter being referred to as the"Property"or"Mortgaged Property"),
<br /> TO HAVE AND TO HOLD the Mortgaged Property unto Mortgagee forever;
<br /> PROVIDED, NEVERTHELESS, That this Mortgage is given upon the express
<br /> condition that if Mortgagor shall cause to be paid to Mortgagee as and when due and
<br /> payable the principal of and the interest on the Note and all other indebtedness, and shall
<br /> also keep and perform all and singular the covenants herein contained on the part of
<br /> Mortgagor to be kept and performed, then the Mortgage and the estate hereby granted
<br /> shall cease and be and become void and shall be released of record at the expense of
<br /> Mortgagor; otherwise this Mortgage shall be and remain in full force and effect.
<br /> MORTGAGOR REPRESENTS, WARRANTS AND COVENANTS to and with
<br /> Mortgagee that Mortgagor is lawfully seized of the Mortgaged Property in fee simple;
<br /> that it has good right and full power and authority to execute this Mortgage and to
<br /> mortgage the Mortgaged Property; that the Mortgaged Property is free from all liens and
<br /> 385595v3 JSB EL185-12
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