REVOLVING MORTGAGE, ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND FIXTURE FINANCING STATEMENTRevolving Mortgage, Assignment of Rents, Security Agreement and Fixture Financing Statement • September 25th, 2007 • Nature Vision, Inc. • Photographic equipment & supplies • Minnesota
THIS REVOLVING MORTGAGE, ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND FIXTURE FINANCING STATEMENT (the “Mortgage”) is made on September 19th, 2007, between Nature Vision, Inc., a Minnesota corporation, the mortgagor (the “Mortgagor”), and M&I Business Credit, LLC., a Minnesota limited liability company, together with its participants, successors and assigns, the mortgagee and secured party (“Mortgagee”).
SECURITY AGREEMENTSecurity Agreement • September 25th, 2007 • Nature Vision, Inc. • Photographic equipment & supplies
AGREEMENT made this 19th day of September, 2007, between Nature Vision, Inc., a Minnesota corporation, as debtor (herein called the “Debtor”) and M&I Business Credit, LLC (herein, with its participants, successors and assigns, called the “Lender”), as secured party.
DEMAND TERM NOTEDemand Term Note • September 25th, 2007 • Nature Vision, Inc. • Photographic equipment & supplies
FOR VALUE RECEIVED, Nature Vision, Inc., Minnesota corporation, located at 1480 Northern Pacific Road, Brainerd, MN 56401 (the “Borrower”) hereby promises to pay upon demand to the order of M&I Business Credit, LLC, a Minnesota limited liability company, its successors and assigns (the “Lender”), located at Suite 450, 651 Nicollet Mall, Minneapolis, Minnesota 55402, the principal sum of Two Million Dollars ($2,000,000), in lawful money of the United States and immediately available funds, together with interest on the unpaid balance accruing as of the date hereof at an annual rate equal at all times to three quarters percent (3/4%) per annum, above the rate of interest publicly announced by M&I Marshall & Ilsley Bank from time to time as its prime rate (or any similar successor rate), each change in the interest rate shall take effect simultaneously with the corresponding change in such designated bank’s base rate or any similar successor rate.
NONCOMPETITION AGREEMENTNoncompetition Agreement • September 25th, 2007 • Nature Vision, Inc. • Photographic equipment & supplies • Minnesota
This Noncompetition Agreement (this “Agreement”) among Nature Vision, Inc., a Minnesota corporation (the “Buyer”), Cass Creek International, LLC, a New York limited liability company(“Cass Creek”) and Gary R. Lynn (“Lynn”), John T. Bergstue (“Bergstue”), Todd E. Hallquist (“Hallquist”) and James G. Streib (“Streib”) (where Lynn, Bergstue, Hallquist and Streib are individuals, each of whom may be referred to as a “Principal” or collectively as “Principals”), takes effect on September 20, 2007 (the “Closing Date”).
ASSET PURCHASE AGREEMENTAsset Purchase Agreement • September 25th, 2007 • Nature Vision, Inc. • Photographic equipment & supplies • Minnesota
This Asset Purchase Agreement (this “Agreement”) among Nature Vision, Inc., a Minnesota corporation (the “Buyer”), and Cass Creek International, LLC, a New York limited liability company (“Cass Creek”) and Gary R. Lynn (“Lynn”), John T. Bergstue (“Bergstue”), and James G. Streib (“Streib”) (where Lynn, Bergstue and Streib are individuals, each of whom may be referred to as a “Member” or collectively as “Members,” and where Members and Cass Creek referred to collectively as the “Sellers”), takes effect on September 20, 2007 (the “Closing Date”). The Buyer, Cass Creek, Bergstue, Streib and Lynn are referred to individually as a “Party” and collectively as the “Parties.”
GUARANTY AGREEMENTGuaranty Agreement • September 25th, 2007 • Nature Vision, Inc. • Photographic equipment & supplies • Minnesota
AGREEMENT made this 19th day of September, 2007 by the undersigned for the benefit of M&I Business Credit, LLC, a Minnesota limited liability company, (herein, with its participants, successors and assigns, called “Lender”).
INVENTIONS ROYALTY AGREEMENTInventions Royalty Agreement • September 25th, 2007 • Nature Vision, Inc. • Photographic equipment & supplies • Minnesota
This INVENTIONS ROYALTY AGREEMENT (“Agreement”) is made as of September 20, 2007, by and between Nature Vision, Inc., a Minnesota corporation (“Buyer”) and Gary R. Lynn (“Lynn”), John T. Bergstue (“Bergstue”), and James G. Streib (“Streib”) (where Lynn, Bergstue and Streib are individuals, each of whom may be referred to as a “Member” or collectively as “Members,”), Todd E. Hallquist, an individual (“Hallquist”) and Jabez Development, LLC, a New York limited liability company (“Jabez”), where Members, Hallquist and Jabez are referred to collectively as the “Inventors”).
