BUSINESS LOAN AGREEMENTBusiness Loan Agreement • August 14th, 2007 • Scanner Technologies Corp • Special industry machinery, nec • Minnesota
THIS BUSINESS LOAN AGREEMENT dated April 12, 2007, is made and executed between SCANNER TECHNOLOGIES CORPORATION (“Borrower”) and Bremer Bank, National Association (“Lender”) 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 or other financial accommodations, including those which may be described on any exhibit or schedule attached to this Agreement (“Loan”). 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) all such Loans shall be and remain subject to the terms and conditions of this Agreement.
SEVENTH AMENDMENT TO LEASELease • August 14th, 2007 • Scanner Technologies Corp • Special industry machinery, nec
THIS SEVENTH AMENDMENT TO LEASE (the “Seventh Amendment”) is entered into as of this 9th day of March, 2007, by and between PARKERS LAKE II REALTY LLC, a Delaware limited liability company, with an address in care of Great Point Investors LLC, Two Center Plaza, Suite 410, Boston, MA 02108 (“Landlord”), and SCANNER TECHNOLOGIES CORPIRATION, a Minnesota corporation, with an address of 14505 214 Avenue, Suite 216/218, Plymouth, MN 55447 (“Tenant”).
LEASE RENEWAL ADDENDUMScanner Technologies Corp • August 14th, 2007 • Special industry machinery, nec
The above named Lessee will be renewing the Lease Agreement dated December 7, 2000 and Amended December 15, 2003, January 21, 2004 and February 19, 2004. The terms and conditions shall remain in full force and effect with the exception of the following:
