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the corporate guarantor to the EDA, personal guaranties from Allen Meyer, Brian Brehmer, Nancy <br />Brehmer, and an entity guaranty from Yankee Doodle Enterprises, LLC. The City hereby consents to <br />the EDA entering into the Loan Documents with the Borrower. <br />2.02 The City hereby approves the Loan in accordance with the Loan Agreement in <br />substantially the form on file with the City's Economic Development Director together such <br />modifications thereof, deletions therefrom and additions thereto as may be necessary and appropriate <br />and approved by legal counsel to the EDA and by the President and Executive Director of the EDA <br />prior to executing said documents and the City further; and said officers are hereby authorized to <br />approve said changes on behalf of the EDA. The execution of any instrument by the President and <br />Executive Director shall be conclusive evidence of the approval of such document in accordance with <br />the terms hereof. <br />Approved by the City Council of the City of Elk River this 20ffi day of August, 2018. <br />J ietz, May <br />ATTEST: <br />Tina Allard, City Clerk <br />534205v2 JSB ELI 85-57 <br />