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THE MAXIMUM PRINCIPAL AMOUNT OF INDEBTEDNESS SECURED HEREBY, EXCLUDING ADVANCES MADE BY
<br />THE MORTGAGEE IN PROTECTION OF THE PREMISES OR THE LIEN OF THIS MORTGAGE, SHALL BE ONE
<br />HUNDRED THOUSAND AND NO/100 DOLLARS ($100,000).
<br />COMBINATION MORTGAGE, SECURITY AGREEMENT
<br />AND FIXTURE FINANCING STATEMENT
<br />THIS COMBINATION MORTGAGE, SECURITY AGREEMENT AND FIXTURE FINANCING STATEMENT (the
<br />"Mortgage"), is made this day of August, 2017, from MK Johnson Properties, LLC, a Minnesota limited liability company
<br />("Mortgagor") to City of Ramsey, a municipal corporation ("Mortgagee").
<br />In consideration of the sum of One Hundred Thousand and no/100 Dollars ($100,000) to Mortgagor or to its benefit in
<br />hand paid, and for the purpose of securing (a) the repayment of the indebtedness evidenced by Mortgagor's note below described
<br />("Note"):
<br />Date of Note Principal Balance Due
<br />August , 2017 $100,000
<br />payable to the order of Mortgagee with interest thereon as set forth therein, principal and interest being due and payable as set forth
<br />therein, with the full principal balance being due and payable not later than October 01, 2032 and all amendments, renewals,
<br />extensions and modifications thereof; (b) the payment of all other sums with interest thereon as may be advanced by Mortgagee in
<br />accordance with this Mortgage (the indebtedness evidenced by the Note and all such other sums are hereinafter collectively referred
<br />to as the "Indebtedness"); and (c) the performance of all the covenants, conditions and agreements of Mortgagor herein contained,
<br />Mortgagor does hereby mortgage, grant, bargain, sell, assign, transfer and convey unto Mortgagee, its successors and assigns,
<br />forever, with power of sale, the following:
<br />I.
<br />All of its right, title and interest in and to the tracts, parcels and interest in the land described in Exhibit A attached hereto
<br />(the "Land"), and the buildings, structures, equipment and other improvements now standing or at any time hereafter constructed
<br />or placed upon the Land (the "Improvements") including, but not limited to, (i) all building materials, supplies and equipment now
<br />or hereafter located on the Land and suitable or intended to be incorporated in any building, structure, or other improvement located
<br />or to be erected on the Land, (ii) all heating, plumbing and lighting apparatus, motors, engines and machinery, electrical equipment,
<br />dynamos, transformers, oil burners, sprinkling equipment, boilers, furnaces, elevators and motors, equipment, communication
<br />systems, incinerator apparatus, ventilating and air conditioning equipment, water and gas apparatus, pipes, faucets, and all other
<br />fixtures of every description which are now or may hereafter be placed or used upon the Land or in any building or improvement
<br />now or hereafter located thereon (excluding, however, fixtures owned by tenants occupying space in any building now or hereafter
<br />located on the Land which are not basic to the operation of the building), (iii) all appliances, water softeners, carpets, carpeting,
<br />window shades and blinds, furniture, furnishings, maintenance equipment, chairs, tables, linen, desks, stoves, refrigerators,
<br />televisions, washing machines and dryers, restaurant equipment and all other personal property now or hereafter located in, or on,
<br />or used, or intended to be used in connection with the Land or the Improvements (excluding personal property owned by tenants
<br />occupying space in any building now or hereafter located on the Land), (iv) all additions, accessions, increases, parts, fittings,
<br />accessories, replacements, substitutions, betterments and repairs to and of any and all of the foregoing, (v) all proceeds of the
<br />property described in the foregoing subparagraphs (i) through (iv), including all insurance proceeds and condemnation awards
<br />made with respect to such property, and (vi) all hereditaments, easements, appurtenances, estates, riparian rights, mineral rights
<br />and all other rights and interests now or hereafter belonging to or in any way pertaining to the Land or to any building or
<br />improvement now or hereafter located thereon.
<br />II.
<br />All rents, issues, profits, condemnation awards, insurance proceeds, revenues and income arising from the ownership or
<br />operation of the Land and the Improvements and all proceeds and products thereof (herein collectively called "Revenues and
<br />Income").
<br />To Have and To Hold the Lands and Improvements (together the "Mortgaged Property"), and the Revenues and Income
<br />therefrom, together with all privileges, hereditaments and appurtenances thereunto now or hereafter belonging or in anywise
<br />appertaining, and the proceeds thereof unto Mortgagee forever: provided, nevertheless, that this Mortgage is upon the express
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