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 The EDA will maintain a subordinate position on the mortgage at 13374 U.S. Highway 10 by <br />amending and restating the mortgage, entity guarantee and a personal guarantee. <br /> <br /> <br />Financial Impact <br />The balance of the Microloan Fund account is $740,058.96. The loan request of $19,175 is proposed to <br />be amortized over 5 years at 3 percent interest. Funds in this account continue to revolve and payments <br />are received regularly. <br /> <br />Attachments <br /> Resolution <br /> Loan Documents <br /> Joint Finance Committee Meeting Packet (July 31, 2018) <br />