3.5. EDSR HANDOUT 10-17-2016 - Laserfiche WebLink

Home Browse Search

MORTGAGE 1 THIS MORTGAGE (tree "Mortgage"), dated as of October'i 1903. .�=, is given by INDY LUBE, INC., an Indiana corporation ("Mortgagor,,), whose address is 6505 East 82nd Street, Suite 209, Indianapolis, Indiana 46250; to the ECONOMIC DEVELOPMENT AUTHORITY FOR THE CIT': OF ELK RIVER, a public body corporate and politic of the State of Minnesota ("Mortgagee"), whose address is 13065 Orono Parkway, P.O. Box. 4.90, Elk River, Minnesota 55330. PRELIMINARY STP-TEMENT OF FACTS Mortgagor is justly indebted to Mortgagee in the principal sum of Twenty-four Thousand Seven Hundred and no/100 Dollars ($24,700.00), together with interest at the rates and adjustments thereof provided hereinafter and in that certain Promissory note from Mortgagor (the "Note") of even date herewith, payable to the order of Mortgagee, which Note is fully incorporated herein and is secured hereby. The Note secured hereby is a single advance note, and the proceeds thereof may not be readvanced following payment. The Note shall mature on November 1, 2008. 1:} Mortgage - Mortgagor hereby mortgages to Mortgagee the L real property.located in the County of Sherburne, State of Minnesota, legally described on Exhibit A attached hereto and f1saincorporated herein, together with all tenements, easements, Wit^ hereditaments, privileges, minerals and mineral rights, water and water rights, buildings, fixtures, and improvements now or hereafter erected or located .on the above-described real property (the "Mortgaged Premises"). 2.) Statutory Covenants - Mortgagor makes and includes in this Mortgage the statutory covenants and other provisions set forth inMinnesotaStatutes, Section 507.15, or in any future Minnesota statute providing for a statutory form of real estate mortgage; and Mortgagor covenants with Mortgagee the following ;. -covenants: I{ a (a). To warrant title to the Mortgaged Premises subject to the Permitted Encumbrances set forth on Exhibit A.