4.6. SR 08-20-2018 - Laserfiche WebLink

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AMENDED AND RESTATED PROMISSORY NOTE Amended and Original Principal Restated Principal Amended and AmountAmountOriginal Issue DateRestated Date $74,999.00$59,657.91September 10, 2013_______, 2018 FOR VALUE RECEIVED, the undersigned, ALAN ARNOLD CORPORATION, a Minnesota corporation (“Borrower”), promises to pay to the order of Economic Development Authority of the City of Elk River, a public body corporate and politic of the State of Minnesota (“Lender”), at 13065 Orono Parkway, Elk River, Minnesota 55330, or such other place as the Lender or any other holder of this note may designate in writing, on or before __________September1,20__2023 (“Maturity Date”), the principal sum of Fifty-Nine Thousand Six Hundred and Fifty-Seven and 91/100s Dollars ($59,657.91), or so much thereof as may have been advanced by the Lender to the Borrower (the “Principal Balance”). Original Note Balance. A portion of the outstanding Principal Balance in the amount of $40,482.91 (the “Original Note Balance”) shall accrue interest at a fixed interest rate of 2.00% per annum. The Borrower shall be obligated to make monthly installments (“Original Note Monthly Installment”) in the amount of Seven Hundred Twenty-four and 20/100 Dollars ($724.20), which Monthly Installment shall commence st on October 1, 2013, and continue on the first (1) day of each and every month thereafter until September 1, 2023 (the “Original NotetheMaturity Date”), when all unpaid principal and interest on the Original Note Balance shall be payable in full. New Note Balance. A portion of the outstanding Principal Balance in the amount of $19,175.00 (the “New Note Balance”) shall accrue interest at a fixed interest rate of 3.00% per annum. The Borrower shall be obligated to make monthly installments (“New Note Monthly Installment”) in the amount of __________________________ ($_____________Three Hundred Forty-three and 65/100 ($343.65), which Monthly st Installment shall commence on October 1, 2018, and continue on the first (1) day of eachand every month thereafter until ____________ (the “New Note Maturity Date”), when all unpaid principal and interest shall be payable in full. This Note replaces and supersedes in all respects the Note issued on September 10, 2013, and this Note is the“Note” referred to in the Amended and Restated Energy Efficiency Improvement Program Loan Agreement, of even date herewith (the “Loan Agreement”), between Borrower and Lender. The Note is made to secure the Loan made pursuant to the Loan Agreement and issecured by, among other things, those certain Personal Guaranties, each dated the date herewith, made by Brian Brehmer, Nancy Brehmer and Allen Meyer to the Lender, and that certain Corporate Guaranty, dated the date herewith, made by Yankee Doodle Enterprises, LLC to the Lender. All of the terms 533959v23GAF EL185-57