CHANGE IN TERMS AGREEMENTChange in Terms Agreement • November 3rd, 2004 • Scanner Technologies Corp • Special industry machinery, nec
Borrower: SCANNER TECHNOLOGIES CORPORATION 14505 21st Avenue #220 Minneapolis, MN 55447 Lender: BREMER BANK, NATIONAL ASSOCIATION St. Anthony Office 2401 Lowry Ave. NE St. Anthony, MN 55418-4000
BUSINESS LOAN AGREEMENTBusiness Loan Agreement • November 3rd, 2004 • Scanner Technologies Corp • Special industry machinery, nec • Minnesota
THIS BUSINESS LOAN AGREEMENT between SCANNER TECHNOLOGIES CORPORATION (“Borrower”) and BREMER BANK, NATIONAL ASSOCIATION (“Lender”) is made and executed on the following terms and conditions. Borrower has received prior commercial loans from Lender or has applied to Lender for a commercial loan or loans and other financial accommodations, including those which may be described on any exhibit or schedule attached to this Agreement. All such loans and financial accommodations, together with all future loans and financial accommodations from Lender to Borrower, are referred to In this Agreement individually as the “Loan” and collectively as the “Loans.” Borrower understands and agrees that: (a) in granting, renewing, or extending any Loan, Lender is relying upon Borrower’s representations, warranties, and agreements, as set forth in this Agreement; (b) the granting, renewing, or extending of any Loan by Lender at all times shall be subject to Lender’s sole judgment and discretion; and (c)
