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June 1, 2026 <br />Anoka Ramsey Athletic Association <br />Dustin Reeder <br />7550 Highway 10W <br />Ramsey, MN 55303 <br />Dear Dustin, <br />CorTrust Bank (hereafter "Bank") is pleased to present this letter of proposed terms to Anoka Ramsey Athletic <br />Association for your review and consideration. Below is an outline of the terms and conditions that CorTrust Bank <br />will consider for your request. This is not a commitment to extend credit; this is a proposal of terms and conditions <br />pending the Banks due diligence and approval. If you should accept the proposed terms, the proposal shall remain <br />in effect for a period of 45 days from the date of this letter. <br />Borrower: Anoka Ramsey Athletic Association <br />Purpose: Purchase/Construct commercial real estate <br />Loan Amount: Up to $9,425,000 (not to exceed 70% LTV or LTC). <br />Credit Type: Commercial Real Estate. <br />Interest Rate: WSJ + 1.0% for twelve months; thereafter fixed for sixty months at the then existing 5-year <br />Treasury plus 3.0%. <br />Term: 6-years. <br />Amortization: Interest only for twelve months; thereafter converting to principal and interest based on a 25-year <br />amortization. <br />Fees: .50% origination fee; the borrower will be responsible for all costs and expenses such as attorney <br />fees, document preparation, appraisal cost, and all other costs incurred by CorTrust Bank. <br />Prepayment Penalty: 5,4,3,2,1. This prepayment penalty is only in effect if you choose to refinance during the <br />term of the loan with another Lender. <br />Repayment: Monthly payments; Interest only for twelve months thereafter principal and interest of <br />approximately $64,171 (based on the full amount of $9,425,000 advanced for 25-years). <br />Collateral: 1st CREM on 7550 Highway 10W, Ramsey, MN 55303 <br />