SECURITY AGREEMENTSecurity Agreement • August 29th, 2008 • Wsi Industries, Inc. • Metalworkg machinery & equipment • Minnesota
DEBTOR: WSI Industries, Inc., a Minnesota corporation Address: 213 Chelsea Road, Monticello, MN 55362 Federal Tax I.D. No. 41-0691697 State Charter No. K-680
GUARANTY BY CORPORATIONWsi Industries, Inc. • August 29th, 2008 • Metalworkg machinery & equipment
For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and to induce M&I Marshall & Ilsley Bank, a Wisconsin State banking corporation (herein, with its participants, successors and assigns, called “Bank”), at its option, at any time or from time to time to make loans or extend other accommodations to or for the account of WSI Industries, Inc., a Minnesota corporation (herein called “Borrower”) or to engage in any other transactions with Borrower, the undersigned hereby absolutely and unconditionally guarantees to the Bank the full and prompt payment when due, whether at maturity or earlier by reason of acceleration or otherwise, of the debts, liabilities and obligations described as follows:
LOAN AGREEMENTLoan Agreement • August 29th, 2008 • Wsi Industries, Inc. • Metalworkg machinery & equipment • Minnesota
This Loan Agreement (“Agreement”) is made this 26th day of August 2008, by and between WSI Industries, Inc., a Minnesota corporation (the “Borrower”) and M&I Marshall & Ilsley Bank, a Wisconsin state banking corporation (the “Bank”), and the Borrower and the Bank hereby agree as follows:
