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MORTGAGE <br /> AND <br /> ASSIGNMENT OF RENTS <br /> AND <br /> SECURITY AGREEMENT <br /> AND <br /> FIXTURE FINANCING STATEMENT <br /> This Mortgage and Assignment of Rents and Security Agreement and Fixture <br /> Financing Statement ("Mortgage") is made as of April 25, 2013, by BLUE EGG <br /> MARKET, LLC, a Minnesota limited liability company ("Mortgagor"), in favor of <br /> Economic Development Authority of the City of Elk River, a public body corporate and <br /> politic of the State of Minnesota ("Mortgagee"). <br /> THE MAXIMUM AMOUNT SECURED BY THIS MORTGAGE IS $74,500.00 <br /> OF PRINCIPAL INDEBTEDNESS, TOGETHER WITH ALL INTEREST ACCRUING <br /> THEREON AND ANY AMOUNTS WHICH MAY BE ADVANCED BY <br /> MORTGAGEE IN PROTECTION OF THE MORTGAGED PREMISES OR THE LIEN <br /> OF THIS MORTGAGE. <br /> RECITALS <br /> A. Mortgagor has executed and delivered to Mortgagee a Promissory Note <br /> effective as of the date hereof in the principal amount of$74,500.00 and bearing interest <br /> at the rate set forth therein, with principal being due and payable as set forth therein and <br /> with all principal and interest, if not sooner paid, being due and payable on May 1, 2023 <br /> (the Promissory Note as the same may be renewed, extended, replaced, modified or <br /> amended is herein called the"Note"). <br />