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5 <br />DOCSOPEN\EL185\79\955721.v1-5/29/24 <br />e.Taxes. Guarantor has filed all tax returns required to be filed and has <br />paid all taxes shown thereon to be due, including interest and penalties, which are not <br />being contested in good faith and by appropriate proceedings and none of them has any <br />information or knowledge of any objections to or claims for additional taxes in respect <br />of federal income or excess profits tax returns for prior years. <br />The undersigned is the _________ of the Borrower and the undersigned acknowledges <br />and agrees that the Indebtedness is being utilized by the Borrower to assist in financing <br />equipment to be used at the real property located at ____________, Elk River, Minnesota (the <br />“Property”), and such equipment will materially financially benefit the undersigned and, <br />therefore, the undersigned’s obligations under this Guaranty are proper, valid and enforceable. <br />THE UNDERSIGNED REPRESENTS, CERTIFIES, WARRANTS AND AGREES <br />THAT THE UNDERSIGNED HAS READ ALL OF THIS GUARANTY AND UNDERSTAND <br />ALL OF THE PROVISIONS OF THIS GUARANTY. THE UNDERSIGNED ALSO AGREES <br />THAT COMPLIANCE BY THE LENDER WITH THE EXPRESS PROVISIONS OF THIS <br />GUARANTY SHALL CONSTITUTE GOOD FAITH AND SHALL BE CONSIDERED <br />REASONABLE FOR ALL PURPOSES. <br />David Menth <br />Page 47 of 104