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FIRST AMENDMENT TO MORTGAGE <br />AND <br />ASSIGNMENT OF RENTS <br />AND <br />SECURITY AGREEMENT <br />AND <br />FIXTURE FINANCING STATEMENT <br />(Microloan) <br />This FIRST AMENDMENT TO MORTGAGE AND ASSIGNMENT OF RENTS AND <br />SECURITY AGREEMENT AND FIXTURE FINANCING STATEMENT (the "First Amendment to <br />Mortgage") is made as of May_, 2021, by F & M PPROPERTIES, LLC, a Minnesota limited liability <br />company ("Mortgagor"), in favor of the ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF <br />ELK RIVER, a public body corporate and politic of the State of Minnesota ("Mortgagee"), and amends and <br />supplements the Mortgage and Assignment of Rents and Security Agreement and Fixture Financing <br />Statement, dated May 23, 2016 (the "Original Mortgage") between the Mortgagee and Mortgagor. <br />RECITALS <br />A. On May 23, 2016, Mortgagee provided a loan to the Mortgagor in the amount of <br />$185,200.00 (the "Original Loan") pursuant the Loan Agreement, dated May 23, 2016 (the "Original Loan <br />Agreement"), between the Mortgagee and Mortgagor. <br />B. To evidence the Original Loan, the Mortgagor executed a Promissory Note, dated May 23, <br />2016 (the "Original Promissory Note"), with a five-year balloon payment due at maturity. <br />C. The Original Mortgage granted a security interest in the property located in Sherburne County, <br />Minnesota and legally described in EXHIBIT A, attached hereto (the "Mortgaged Property") and was <br />recorded in the Office of the County Recorder of Sherburne County, Minnesota on June 3, 2016, as <br />Document Number 821098. <br />D. Mortgagee requested an extension of the maturity date of the First Amended Loan. The <br />Mortgagor approved an extension of the maturity date to May 1, 2023. The Loan is currently outstanding <br />in the amount of $146,253.78. Mortgagee has requested, and the Mortgagor has agreed, that the Original <br />Mortgage be amended to reflect the amended terms of the Loan. <br />F. To evidence the amendment to the terms of the Loan, the Mortgagee has agreed to deliver <br />to the Mortgagee: (1) the First Amendment to Security Agreement, of even date herewith (the "First <br />EL185\40\720782.v1 <br />