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ARTICLE II
<br /> MORTGAGE AND SECURITY INTEREST
<br /> Section 2.1 Morti!af!e and Security Interest. In order to secure, and as security for,
<br /> (i) the making of the Loan Repayments by the Mortgagor to the Mortgagee for the account of the
<br /> Issuer and the benefit of registered owners of the Bonds,pursuant to the Loan Agreement, and(ii)
<br /> the performance and observance by the Mortgagor of all of the other covenants, agreements,
<br /> representations, warranties and conditions contained herein, in the Indenture, in the Loan
<br /> Agreement, or in any Security Agreement (as defined in the Loan Agreement), the Mortgagor by
<br /> these presents does hereby sell, assign, mortgage, grant, convey, transfer, pledge, set over and
<br /> confirm unto the Mortgagee, and its successors and assigns forever, with power of sale, and grant
<br /> a lien on and a security interest in the Mortgaged Property, consisting of all and singular the
<br /> following described premises and property of the Mortgagor:
<br /> (a) That real estate lying and being in the City of Ramsey, Minnesota, Anoka
<br /> County, described in EXHIBIT A (the "Land") attached hereto and made a part hereof as
<br /> though set forth in full herein;
<br /> (b) All buildings, improvements, structures, and appurtenances now standing,
<br /> or at any time hereafter constructed or placed upon the Land and made a part hereof as
<br /> though set forth in full herein or any part thereof, including all right, title, and interest of
<br /> the Mortgagor in and to all building material, plants, fixtures, and trade fixtures of every
<br /> kind and nature whatsoever on said premises or in any building now or hereafter standing
<br /> on said real estate, or any part thereof;
<br /> (c) The reversion or reversions, remainder or remainders, in and to the Land
<br /> and each and every part thereof, together with the entire interest of the Mortgagor in and
<br /> to all and singular the tenements, hereditaments, easements, rights, privileges and
<br /> appurtenances to said real estate belonging or in any way appertaining thereto;
<br /> (d) All the estate, right, title, interest, claim, or demand whatsoever of the
<br /> Mortgagor, either in law or in equity in possession or expectancy, of, in and to the Land, it
<br /> being the intention of the parties hereto that so far as may be permitted by law, all tangible
<br /> personal property now owned or hereafter acquired by the Mortgagor and affixed to or
<br /> attached to said real estate shall be deemed to be, and shall be considered as, fixtures and
<br /> appurtenances to said real estate of the Mortgagor;
<br /> (e) All of the Mortgagor's right, title, and interest, if any, in and to any streets,
<br /> rights-of-way, and alleys on or adjoining the Land;
<br /> (f) All and singular the furniture, goods, equipment, machinery, inventory, and
<br /> other tangible personal property owned by the Mortgagor used or suitable for use in the
<br /> operation or maintenance of the Land and located on the Land, and any items of furniture,
<br /> goods, equipment,machinery, inventory and other tangible personal property acquired and
<br /> installed on the Land in addition thereto or in substitution or replacement therefor, and any
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