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SECURITY AGREEMENT <br />City of Ramsey Loan <br />Loan Name Clear Choice Countertops, Inc. <br />Borrower Clear Choice Countertops, Ina <br />d/b/a N/A <br />Operating Company Clear Choice Countertops, Inc. <br />Debtor Clear Choice Countertops, Inc. <br />Debtors' Address 13915 Radium Street NW, Suite C <br /> Ramsey, MN .55303 <br />.Secured Party <br />address 7550 Sunwood Drive, NW, Ramsey, MN 55303 <br />Secured Party The City of Ramsey <br />Date <br />Loan/Debenture <br />Amount $24,300.00 <br />' <br />INSTRUCTIONS: Insert the applicable information in the above grid. If a block of the grid is not <br />applicable, mark it Not Applicable or N/A. <br />1. .Grant of Security Interest: Obli atg_ions. Debtor, for value received, hereby grants to <br />Secured Party a securiTy interest (the "Security Interest") in the property described in Paragraph 2 to <br />secure the payment and performance of the following obligations (the "Obligations"): <br />a. Principal and interest on and all amounts owing under a note (the "Note") of <br />Borrower and Co-Borrower, payable to the order of Secured Party, in the principal amount. of the <br />Loan Amount, and all modifications, renewals and extensions of the Note; <br />b. Debtor's obligations under this Security Agreement; <br />Page 1 <br />-90- <br />