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IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first <br />above written. <br />BORROWER: <br />APEX EMBROIDERY DESIGN, INC. <br />By: <br />Its: __________________________ <br />By: <br />Its: __________________________ <br />STATE OF MINNESOTA) <br />) ss. <br />COUNTY OF ________) <br />The foregoing instrument was acknowledged before me on ______________, 2016, by <br />______________and ____________,__________and_____________, respectively, of Apex <br />Embroidery Design, Inc., a Minnesotacorporation, on behalf of thecorporation. <br />Notary Public <br />My Commission Expires: <br />S-2 <br />487523v1 JSB EL185-45 <br /> <br />