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MidWestOne <br />Bank® <br />January 20, 2023 <br />Beaudry Oil & Service <br />Kenneth Beaudry <br />630 Proctor Ave NW <br />Elk River, MN 55330 <br />Greetings Ken, <br />18233 Carson Ct. NW Elk River, MN 55330 <br />Phone:763.2I4.:3214 i Geii:612.206.66;31 <br />WdwestOne.com <br />Allan Pavek <br />Vice President & <br />Commercial Banker <br />I am pleased to advise that MidwestOne Bank will partner with you on your new lube shop in Elk River <br />and provide financing. The financing is subject to standard du diligence requirements. A completed <br />appraisal showing a current and as complete value, any environmental review needed as required by <br />policy, title work confirming property interests and continued receipt of updated financial records with <br />items to be reviewed. If any other items arise during the loan process I will let you know. <br />Borrower: LLC to be confirmed <br />Guarantors: Beaudry Oil and Services and Kenneth Beaudry — continuing unlimited unsecured <br />Purpose: Finance construction of new lube facility <br />Amount: Up to 80% of project costs or appraised as complete — maximum of $3,200,000 <br />Collateral: 151 Mortgage on Subject property <br />Term: 12 month construction draw note, followed by permanent financing, <br />Rates: TBD, based on spread versus 5 year treasury yield <br />Estimated payment: Interest only during draw period, P & I payments tbd once final loan amount is <br />determined <br />Fees: Origination fee TBD, all costs associated with closing, including, but not limited to <br />Appraisal, filing fees, title work, environmental due diligence, construction fees, etc. <br />Payment to be made auto debit with MidwestOne account to be opened. <br />Housekeeping items needed for closing: <br />1. Vehicle details, title, VIN <br />2. Insurance information on property <br />FDIC iEN�Eq <br />