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7.1. EDSR 12-21-2020
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7.1. EDSR 12-21-2020
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12/21/2020
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Indemnification"), between the Borrower and the Secured Party which amends and supplements <br /> the terms of the Original Environmental Indemnification; and(vii)a First Amendment to Mortgage <br /> and Assignment of Rents and Security Agreement and Fixture Financing Statement, dated as of <br /> the date hereof (the "First Amendment to Mortgage"), between the Borrower and the Secured <br /> Party, which amends and supplements the Original Mortgage (collectively, the "Amendment <br /> Documents"). <br /> D. To continue to secure the Loan and to evidence the amendment to the Loan and the <br /> Amendment Documents, the Borrower has agreed to execute and deliver to the Secured Party this <br /> First Amendment to Security Agreement. <br /> AGREEMENT <br /> In consideration of the above recitals, and the promises set forth in this First Amendment to <br /> Security Agreement, the parties agree to amend the Original Security Agreement as follows: <br /> 1. Amendments to Original Security Agreement. Section 1 of the Original Security <br /> Agreement is hereby deleted and replaced in its entirety with the following: <br /> 1. OBLIGATIONS. "Obligations" means collectively each debt, liability and <br /> obligation of every type and nature which Scott Morrell, LLC, a Minnesota <br /> limited liability company (`Borrower") may now or at any time hereafter owe <br /> to Secured Parry(including without limitation the obligations created under the <br /> Original Loan Agreement as amended by the First Amendment to Loan <br /> Agreement (together, the "Loan Agreement") and the Original Note as <br /> amended by the Amended and Restated Promissory Note to Secured Parry of <br /> even date herewith and all amendments, replacements, restatements, and <br /> substitutions therefore), together with Morrell Oversize's obligations to <br /> Secured Parry pursuant to the Original Entity Guaranty as amended by the <br /> Amended and Restated Entity Guaranty, of even date herewith, whether now <br /> existing or hereafter created or arising, and whether direct or indirect,due or to <br /> become due, absolute or contingent, and the repayment or performance of any <br /> of the foregoing if any such payment or performance is at any time avoided, <br /> rescinded, set aside, or recovered from or repaid by Secured Parry, in whole or <br /> in part, in any bankruptcy, insolvency, or similar proceeding instituted by or <br /> against Borrower, Morrell Oversize or any guarantor of any Obligation, or <br /> otherwise,including but not limited to all principal,interest,fees,expenses and <br /> other charges. <br /> 2. Fees and Costs. The Borrower agrees to pay all costs related to the amendment to the <br /> Loan and any documents executed, delivered, and recorded, if necessary, in connection <br /> thereto. <br /> 3. Confirmation of Security. Unless specifically amended herein, all terms of the Original <br /> Security Agreement are unchanged, remain in full force and effect, and are incorporated <br /> herein by reference. <br /> 2 <br /> EL 185\33\693032.v2 <br />
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