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MORTGAGE by Business Entity MORTGAGE REGISTRY TAX DUE: $1,622.84 4487392v4 (Top 3 inches reserved for recording data) ❑ CHECK IF APPLICABLE: NOTWITHSTANDING ANYTHING TO THE CONTRARY HEREIN, ENFORCEMENT OF THIS MORTGAGE IN MINNESOTA IS LIMITED TO A DEBT AMOUNT OF $705,582.50 UNDER CHAPTER 287 OF MINNESOTA STATUTES. THIS MORTGAGE ( "Mortgage ") is given by TOTI HOLDINGS, LLC, a Minnesota limited liability company, as mortgagor ( "Borrower "), to THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF RAMSEY, MINNESOTA, a public body politic and corporate under the laws of the State of Minnesota, as mortgagee ( "Lender "). WITNESSETH, that to secure the payment of Seven Hundred Sixty -two Thousand Three Hundred Dollars ($762,300.00) with interest thereon (the "Indebtedness ") as set forth in that certain Promissory Note dated on or about the date hereof, executed by Borrower in favor of Lender (the "Note "), Borrower hereby mortgages to Lender, with power of sale, the real property in Anoka County, Minnesota, legally described as follows: Lot 4, Block 1, COR ONE Check here if all or part of the described real property is Registered (Torrens) 0 Minnesota Uniform Conveyancing Blanks Form 20.1.2 (2006) DATE: March 15, 2012 together with all hereditaments and appurtenances belonging thereto (the "Property "), subject to the following exceptions: 1. Covenants, conditions, restrictions (without effective forfeiture provisions) and declarations of record, if any; 2. Reservations of minerals or mineral rights by the State of Minnesota, if any; 3. Utility and drainage easements which do not interfere with present improvements; 4. Applicable laws, ordinances and regulations; 5. The lien of real estate taxes and installments of special assessments not yet due and payable; and 6. The liens or encumbrances listed on Exhibit A attached hereto and made as part hereof ( "Permitted Encumbrances "). Borrower covenants with Lender as follows: (a) Repayment of Indebtedness. If Borrower (a) pays the Indebtedness to Lender according to the terms of the Note and all renewals, extensions, and modifications thereto, final payment of which is due on September 14, 2012; (b) pays interest on the Indebtedness as provided in the Note; (c) repays to Lender, at the times and with interest as specified, all sums advanced in protecting the lien of this Mortgage, if any; and (d) keeps and performs all the covenants and agreements contained herein, then Borrower's obligations under this Mortgage will be satisfied, and Lender will deliver an executed satisfaction of this Mortgage to Borrower. It is Borrower's responsibility to record any satisfaction of this Mortgage at Borrower's expense. Page 1 of 5