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ENTITY GUARANTY
<br />(Blighted Properties Forgivable Commercial/Industrial Loan)
<br />May , 2017
<br />FOR VALUABLE CONSIDERATION, the receipt and sufficiency of which is hereby
<br />acknowledged, and in consideration of and to induce financial accommodations of any kind, with
<br />or without security, given or to be given or continued at any time and from time to time by the
<br />HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF ELK
<br />RIVER (the "Lender ") to or for the account of TRUCK SHOP, INC. (the `Borrower "),
<br />BEAUDRY OIL AND SERVICE, INC. (the "Entity Guarantor ") absolutely and unconditionally
<br />guarantees to the Lender the full and prompt payment when due, whether at maturity (unless
<br />forgiven by its terms) or earlier by reason of acceleration, or otherwise, of any and all
<br />indebtedness, obligations and liabilities of the Borrower (and any and all successors of the
<br />Borrower) to the Lender, now or hereafter existing, absolute or contingent, independent, joint,
<br />several or joint and several, secured or unsecured, due or to become due, contractual or tortious,
<br />liquidated or unliquidated, arising by assignment or otherwise, including without limitation all
<br />indebtedness, obligations and liabilities owed by the Borrower (and any and all successors of the
<br />Borrower) as a member of any partnership, syndicate, association or other group, and whether
<br />incurred by the Borrower (or any successor of the Borrower) as principal, surety, endorser,
<br />guarantor, accommodation party or otherwise (collectively, the "Indebtedness "); and the Entity
<br />Guarantor agrees to pay on demand all of the Lender's fees, costs, expenses and reasonable
<br />attorneys' fees in connection with the Indebtedness, any security therefor, and this guaranty, plus
<br />interest on such amounts at the highest rate then applicable to any of the Indebtedness.
<br />The Lender may at any time and from time to time, without consent of or notice to the
<br />Entity Guarantor, without incurring responsibility to the Entity Guarantor, without releasing,
<br />impairing or affecting the liability of the Entity Guarantor hereunder, upon or without any terms
<br />or conditions, and in whole or in part: (1) sell, pledge, surrender, compromise, settle, release,
<br />renew, subordinate, extend, alter, substitute, exchange, change, modify or otherwise dispose of
<br />or deal with in any manner and in any order any Indebtedness, any evidence thereof, or any
<br />security or other guaranty therefor; (2) accept any security for, or other guarantors of, any
<br />Indebtedness; (3) fail, neglect or omit to obtain, realize upon or protect any Indebtedness or any
<br />security therefor, to exercise any lien upon or right to any money, credit or property toward the
<br />liquidation of the Indebtedness, or to exercise any other right against the Borrower, the Entity
<br />Guarantor, any other guarantor or any other person; and (4) apply any payments and credits to
<br />the Indebtedness in any manner and in any order. No act, omission or thing, except full payment
<br />and discharge of the Indebtedness, which but for this provision could act as a release or
<br />impairment of the liability of the Entity Guarantor hereunder, shall in any way release, impair or
<br />otherwise affect the liability of the Entity Guarantor hereunder, and the Entity Guarantor waives
<br />any and all defenses of the Borrower pertaining to the Indebtedness, any evidence thereof, and
<br />any security therefor, except the defense of discharge by payment. The failure of any person or
<br />persons to sign this or any other guaranty shall not release, impair or affect the liability of the
<br />Entity Guarantor hereunder. This guaranty is a primary obligation of the Entity Guarantor and
<br />the Lender shall not be required to first resort for payment of the Indebtedness to the Borrower or
<br />any other person, their properties or estates, or any security or other rights or remedies
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<br />498665v1 EL185 -51
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