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1 <br />611675v1EL185-30 <br /> <br /> <br /> <br /> <br /> <br />ENVIRONMENTAL INDEMNIFICATION AGREEMENT <br />THIS AGREEMENT is made as of the ___ day of ______, 2019, by HEMMER <br />COMPANIES L.L.C., a Minnesota limited liability company (the “Borrower”) and ECONOMIC <br />DEVELOPMENT AUTHORITY OF THE CITY OF ELK RIVER, a public body corporate and <br />politic of the State of Minnesota (“Lender”). <br />RECITALS <br />A. On February 17, 2015, the Lender provided to the Borrower a microloan under its <br />Microloan Program, in the principal amount of $126,000.00, of which $___________ is <br />currently outstanding (the “Original Loan”). <br />B. To finance the cost of renovation of the Property and Borrower’s purchase of <br />equipment to be used at the Property, the Borrower has requested an additional loan in the <br />principal amount of $100,000 from the Lender, pursuant to its Microloan Program (the “New <br />Loan,” and together with the Original Loan, the “Loan”). <br /> <br />C. The Loan is secured in part by an Mortgage and Assignment of Rents and <br />Security Agreement and Fixture Financing Statement dated even herewith (the “Mortgage”) <br />pertaining to certain land described in Exhibit A attached hereto (collectively, the “Property”) <br />owned by Borrower and located in Sherburne County, Minnesota. <br />D. Lender has refused to make the Loan to Borrower unless this Agreement is <br />executed and delivered by Borrower. <br />AGREEMENT <br />NOW, THEREFORE, in consideration of Lender’s agreement to make the Loan to <br />Borrower, Borrower hereby warrants and represents to, and covenants and agrees with, Lender as <br />follows: <br />1. Definitions. As used in this Agreement, the following terms shall have the <br />following meanings: <br />(a) “Environmental Regulation” means a Law relating to the environment and/or to <br />human health or safety, or governing, regulating or pertaining to the generation,