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NOW THEREFORE, in consideration of the Recitals and for the purpose of
<br /> securing the payment and performance of all of Mortgagor's obligations under the
<br /> Corporate Guaranty (collectively "Obligations"); and to secure the performance of all
<br /> covenants, conditions and agreements herein and in the Corporate Guaranty, Mortgagor
<br /> does hereby mortgage, grant, bargain, sell, release and convey unto Mortgagee, with
<br /> power of sale, forever all of Mortgagor's right,title and interest in all the tracts or parcels
<br /> of land lying and being in Sherbume County, Minnesota, legally described in Exhibit A
<br /> hereto, (hereinafter the"Land"),whether now owned or hereafter acquired,together with:
<br /> (i) all building materials, supplies and equipment now or hereafter located on the Land
<br /> and suitable or intended to be incorporated in any building, structure, or other
<br /> improvement located or to be erected on the Land; and (ii) all of the buildings, structures
<br /> and other improvements now standing or at any time hereafter constructed or placed upon
<br /> the Land; and (iii) all heating, plumbing and lighting apparatus, motors, engines, and
<br /> machinery, electrical equipment, incinerator apparatus, air conditioning equipment, water
<br /> and gas apparatus, pipes, faucets, and all other fixtures of every description which are
<br /> now or may hereafter be placed or used upon the Land or in any building or improvement
<br /> now or hereafter located thereon; and (iv) all equipment purchased with the Loan
<br /> proceeds, as set forth on Exhibit A to the Loan Agreement, as updated from time to time
<br /> (collectively, the "Equipment"); and (v) all additions, accessions, increases, parts,
<br /> fittings, accessories,replacements, substitutions, betterments, repairs and proceeds to any
<br /> and all of the foregoing; and (vi) all hereditaments, easements, appurtenances, estates,
<br /> rents, issues, profits, condemnation awards, proceeds of policies of insurance and other
<br /> rights and interests now or hereafter belonging or in any way pertaining to the Land or to
<br /> any building or improvement now or hereafter located thereon; and (vii) all leases or
<br /> other occupancy agreements now or hereafter in effect in any way appertaining to the
<br /> Land or to any building or improvement now or hereafter located thereon, including,
<br /> without limitation, all cash and security deposits, advance rentals and deposits or
<br /> payments of a similar nature ("Leases"), and all Rents (as herein defined) (all of the
<br /> foregoing, together with the Land, hereinafter being referred to as the "Property" or
<br /> "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 or Borrower shall cause to be paid and performed all of the
<br /> Obligations, and shall also keep and perform all and singular the covenants herein
<br /> contained on the part of Mortgagor to be kept and performed, then the Mortgage and the
<br /> estate hereby granted shall cease and be and become void and shall be released of record
<br /> at the expense of Mortgagor or Borrower; otherwise this Mortgage shall be and remain in
<br /> full force and effect.
<br /> MORTGAGOR REPRESENTS, WARRANTS AND COVENANTS to and with
<br /> Mortgagee that Mortgagor is the vendee under that certain contract for deed set forth as
<br /> item 1 on Exhibit B attached hereto (the "Contract for Deed"); that it has good right and
<br /> full power and authority to execute this Mortgage and to mortgage the Mortgaged
<br /> Property; that the Mortgaged Property is free from all liens and encumbrances except
<br /> those identified in Exhibit B hereto; that Mortgagee shall quietly enjoy and possess the
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