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COMBINATION MORTGAGE, SECURITY AGREEMENT
<br />AND FIXTURE FINANCING STATEMENT
<br />(LHIA FUNDS)
<br />This COMBINATION MORTGAGE, SECURITY AGREEMENT AND FIXTURE
<br />FINANCING STATEMENT dated as of the day of , 2017 (the
<br />"Mortgage"), is given by Ramsey Station Apartments Limited Partnership, a Minnesota
<br />limited partnership (hereinafter referred to as the "Mortgagor"), to the City of Ramsey, a
<br />Minnesota municipal corporation, its successors or assigns (the "Mortgagee").
<br />The Mortgagee and the Mortgagor have entered into a Loan Agreement, dated as of the
<br />date hereof (the "Loan Agreement") with respect to Greenway Terrace (the "Project") described
<br />therein. Pursuant to the Loan Agreement, the Mortgagee has agreed to lend a principal amount
<br />of $100,000 (the "Loan").
<br />The Mortgagee requires that the Mortgagor secure advances under the Loan by a Note of
<br />even date herewith (the "Note") and this Mortgage.
<br />Therefore, in consideration of the Loan, the Mortgagor hereby mortgages, grants,
<br />bargains, sells, assigns, transfers, and conveys unto the Mortgagee forever all of Mortgagor's
<br />right, title and interest in the tracts or parcels of land (hereinafter called the "Land"), located in
<br />Anoka County, Minnesota, and described in Exhibit A attached hereto and incorporated herein
<br />by reference, together with (i) all of the buildings, structures, and other improvements now
<br />standing or at any time hereafter constructed or placed upon the Land; (ii) all lighting, heating,
<br />ventilating, air-conditioning, sprinkling and plumbing fixtures, water and power systems, engines
<br />and machinery, boilers, furnaces, oil burners, elevators and motors, communication systems,
<br />dynamos, transformers, electrical equipment, pollution control equipment, and all other fixtures
<br />of every description located in or on, or used, or intended to be used in connection with the Land
<br />or any building now or hereafter located thereon and owned by the Mortgagor; (iii) all
<br />hereditaments, easements, appurtenances, riparian rights, rents, issues, profits, condemnation
<br />awards, mineral rights, water rights, and contract rights (including contract rights pertaining to
<br />performance bonds, fidelity bonds, or insurance contracts) now or hereafter belonging or in any
<br />way pertaining to the Land or to any building now or hereafter located thereon and all the estate,
<br />right and interest of the Mortgagor in the Land if any; (iv) all building materials, furniture,
<br />furnishings, maintenance and repair equipment, and all other personal property now or hereafter
<br />located in, or on, or used, or intended to be used in connection with the Land or any building
<br />now or hereafter located thereon and all replacements, additions, accessions, or proceeds thereto
<br />owned by the Mortgagor; (v) after -acquired property with respect to the foregoing; and (vi) all
<br />proceeds and products of the foregoing (all of the foregoing are hereinafter referred to as the
<br />"Mortgaged Property") to satisfy Mortgagor's repayment obligation under the Loan Agreement,
<br />and the cost, including reasonable attorney's fees, of collecting the same.
<br />To Have and To Hold the Mortgaged Property unto the Mortgagee forever; provided,
<br />nevertheless, that this Mortgage is upon the express condition that if the Mortgagor shall,
<br />pursuant to the Loan Agreement and the Note, pay to the Mortgagee as and when due and
<br />US.113578590.01
<br />B-2-2
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