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4.10 SR 12-21-2020
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4.10 SR 12-21-2020
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12/28/2020 10:14:15 AM
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Amendment to Security Agreement"), between Morrell Oversize, Inc. ("Morrell Oversize") and the <br />Mortgagor, which amends the Security Agreement, dated August 6, 2015 (the "Original Security <br />Agreement, and together with the First Amendment to Security Agreement, the "Security Agreement"), <br />between Morrell Oversize and the Mortgagor; (11) this First Amendment to Mortgage; (111) the Amended <br />and Restated Personal Guaranty, of even date herewith (the "Amended and Restated Personal Guaranties"), <br />from Terry Morrell and Renee Morrell, which amends and restates the Personal Guaranty, dated August 6, <br />2015 (the "Original Personal Guaranties, and together with the Amended and Restated Personal Guaranties, <br />the "Personal Guaranties") from Terry Morrell and Renee Morrell; (iv) the Amended and Restated Entity <br />Guaranty, of even date herewith (the "Amended and Restated Entity Guaranty"), from Morrell Oversize, <br />which amends and restates the Entity Guaranty, dated August 6, 2015 (the "Original Entity Guaranty, and <br />together with the Amended and Restated Entity Guaranty, the `Entity Guaranty"), from Morrell Oversize <br />to the Mortgagor; (v) the First Amendment to Loan Agreement, dated as of the date hereof (the "First <br />Amendment to Loan Agreement" and together with the Original Loan Agreement, the "Loan Agreement"), <br />between the Mortgagor and the Mortgagee which amends the Original Loan Agreement; and (vi) the <br />Amended and Restated Promissory Note, dated the date hereof (the "Amended and Restated Promissory <br />Note" and together with the Original Promissory Note, the "Note"), from the Mortgagee to the Mortgagor. <br />F. This is a mortgage amendment as defined in Minnesota Statutes, Section 287.01, <br />Subdivision 2, and as such it does not secure a new or an increased amount of debt. Minn. Stat. 287.05, <br />Subdivision 8. Mortgage registry tax was paid with respect to the indebtedness secured by the Mortgage <br />on the date of recording. <br />NOW, THEREFORE, in consideration for the amendments to terms of the Loan set forth in this First <br />Amendment to Mortgage, the First Amendment to Loan Agreement, and the Amended and Restated <br />Promissory Note and the mutual promises and covenants contained herein, the Mortgagee and Mortgagor agree <br />as set forth below: <br />On the date hereof, the Loan remains outstanding in the amount of $154,170.63. <br />2. The maturity date of the Loan shall be extended to August 1, 2022. <br />The term "Loan Agreement" as used in the Original Mortgage, as amended by this First <br />Amendment to Mortgage shall mean the Original Loan Agreement as amended by the First <br />Amendment to Loan Agreement. <br />4. The term "Promissory Note" or "Note" as used in the Original Mortgage, as amended by this <br />First Amendment to Mortgage shall mean the Original Promissory Note as amended by the <br />Amended and Restated Promissory Note. <br />Except as specifically amended by this First Amendment to Mortgage, the Original Mortgage <br />is here by ratified and confirmed in all respects, remains in full force and effect, and is <br />incorporated herein by reference. <br />[Signature Page follows] <br />2 <br />LL185\33\693027.d2 <br />
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