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FIRST AMENDMENT TO ENVIRONMENTAL INDEMNIFICATION AGREEMENT <br />(Microloan) <br />THIS FIRST AMENDMENT TO ENVIRONMENTAL INDEMNIFICATION <br />AGREEMENT (the "First Amendment to Environmental Indemnification") is made effective as <br />of May , 2021, by and between F & M PROPERTIES, LLC, a Minnesota limited liability <br />company (`Borrower"), and the ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY <br />OF ELK RIVER, a public body corporate and politic of the State of Minnesota ("Lender"), and <br />amends and supplements the ENVIRONMENTAL INDEMNIFICATION AGREEMENT, dated <br />May 23, 2016 (the "Original Environmental Indemnification") between the Borrower and the <br />Lender, recorded in the Office of the County Recorder, Sherburne County, Minnesota on June, 3, <br />2016 as Document Number 821100. <br />RECITALS <br />A. On May 23, 2016, the Lender provided a loan to F & M Properties, LLC, a <br />Minnesota limited liability company (`Borrower") in the amount of $185,200 (the "Loan"), <br />pursuant to the Loan Agreement, dated May 23, 2016 (the "Original Loan Agreement"), between <br />the Buyer and the Lender. The Borrower applied the proceeds of the Loan to relocate to and <br />purchase and renovate an existing building on real property, legally described in Exhibit A (the <br />"Loan Property"). To secure the Loan, the Borrower delivered to the Lender (i) the Promissory <br />Note, dated May 23, 2016 (the "Original Promissory Note"), from the Borrower to the Lender; (ii) <br />the Security Agreement, dated May 23, 2016 (the "Original Security Agreement"), between Die <br />Concepts, Inc., a Minnesota Corporation ("Die Concepts") and the Lender; (iii) the Personal <br />Guaranties, dated August May 23, 2016 (the "Original Personal Guaranties"), from Fred Trapp <br />and Michael Tracey to the Lender; (iv) the Entity Guaranty, dated May 23, 2016 (the "Original <br />Entity Guaranty"), from Die Concepts to the Lender; (v) the Original Environmental <br />Indemnification; and (vi) the Mortgage and Assignment of Rents and Security Agreement and <br />Fixture Financing Statement, dated May 23, 2016 (the "Original Mortgage"), from the Borrower <br />to the Lender. The Loan is due and payable in full with a balloon payment on June 1, 2021. <br />B. The Borrower requested an extension of the maturity date of the Loan. The Board <br />of Commissioners of the Secured Party approved an extension of the maturity date to May 1, 2023. <br />The Loan is currently outstanding in the principal amount of $146,253.78. <br />EL 185\40\720849.v 1 <br />