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<br /> 2 <br />EL185-56-648271.v1 <br />provided to assist with operating costs and investments associated with an expansion of <br />an existing aerospace manufacturing business in the City, the Borrower represents that it <br />will cause meet following goals (the “Goals”): the Borrower shall create 10 full-time <br />equivalent jobs in Elk River, Minnesota, at the Loan Property at an average hourly wage <br />equal to $15.00 per hour exclusive of benefits, or 150% of the state or federal minimum <br />wage exclusive of benefits, whichever is greater, by the three (3) year anniversary of the <br />date of closing on the Loan (the “Benefit Date”). <br />2. Any capitalized terms used herein but not otherwise defined shall have the <br />meanings assigned to such terms in the Original Agreement. Any references to the “Agreement” <br />or “this Agreement” in the Original Agreement shall refer to the Original Agreement, as <br />amended by this First Amendment, and as may be further amended and supplemented. <br />3. The amendments made to the Original Agreement, as amended by this First <br />Amendment, shall be effective as of the date hereof. <br />4. Except as hereby amended, all other terms and conditions of the Original <br />Agreement shall remain in full force and effect.