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<br /> <br /> <br /> <br /> <br /> <br /> <br />ENVIRONMENTAL INDEMNIFICATION AGREEMENT <br />THIS AGREEMENT is made as of the ___ day of October, 2016, by APEX <br />EMBROIDERY DESIGN, INC., a Minnesota corporation (“Borrower”), SBH PROPERTIES, <br />LLC, a Minnesota limited liability company (the “Entity Guarantor”) and ECONOMIC <br />DEVELOPMENT AUTHORITY OF THE CITY OF ELK RIVER, a public body corporate and <br />politic of the State of Minnesota (“Lender”). <br />RECITALS <br />A. Lender has agreed to lend to Borrower the sum of up to $200,000.00 (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 the Entity Guarantor and located in Sherburne County, <br />Minnesota, the personal guaranty of Brian Hill, and an entity guaranty from SBH Properties, LLC. <br /> C. Lender has refused to make the Loan to Borrower unless this Agreement is <br />executed and delivered by Borrower and Entity Guarantor. <br />AGREEMENT <br />NOW, THEREFORE, in consideration of Lender’s agreement to make the Loan to <br />Borrower, Borrower and Entity Guarantor hereby warrant and represent to, and covenant and <br />agreeswith, Lender as 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 />487523v1 JSB EL185-45 <br />