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Guarantees: N/A <br />Requirements <br />Appraisal: Borrower will provide CorTrust Bank with a real estate appraisal in compliance with USPAP <br />guidelines. CorTrust Bank would engage the appraisal firm directly and Anoka Ramsey Athletic <br />Association agrees to provide all requested information to the appraisal firm for this purpose. <br />Covenants: Borrowers: <br />• Will maintain a minimum standalone debt service coverage ratio of 1:25x measured annually. <br />The Borrower will keep and maintain their main operating deposit account with CorTrust Bank. <br />Assumption agreement and related agreements documents between ARAA and The City of <br />Ramsey, in the event of a default by ARAA, acceptable to CorTrust Bank. <br />Reporting: <br />• Annually, Business Tax Returns — Anoka Ramsey Athletic Association <br />• Annually, Financial Statements including Balance Sheet, Income Statement. <br />Thank you for the opportunity to present this proposal. <br />Sinc <br />Dean Suchy <br />Market President <br />CorTrust Bank N.A. <br />