Common Contracts

SECURITY AGREEMENT

Security Agreement • February 1st, 2018 • Minnesota

• Contract Type
  Security Agreement
• Filed
  February 1st, 2018
• Jurisdiction
  Minnesota

, 2018 as of the date hereof (the "Loan Agreement"), pursuant to which Lender will loan to Borrower no more than $220,000 (the "Loan") to assist with the purchase of machinery and equipment on the Development Property. The Borrower has agreed to grant to the Lender a security interest in certain pieces of equipment (the “Equipment) described on the Exhibit B attached hereto, such Equipment to be located at the Development Property site described on the Exhibit A attached hereto (the "Development Property"). Borrower's payment obligations under the Loan Agreement will be evidenced by a promissory note (the "Note") dated as of the date hereof.