SECURITY AGREEMENTSecurity Agreement • May 13th, 2011 • Biovest International Inc • Pharmaceutical preparations • Minnesota
This security agreement (the “Security Agreement”) is made and given as of this 7th day of December, 2010, by Biovest International, Inc., a Delaware corporation with a place of business at 8500 Evergreen Boulevard NW, Coon Rapids, MN 55433 (the “Borrower”) in favor of THE ECONOMIC DEVELOPMENT AUTHORITY IN AND FOR THE CITY OF COON RAPIDS, a municipal corporation under the laws of Minnesota, with its offices at 11155 Robinson Drive, Coon Rapids, Minnesota, 55433, and its endorsees, successors and assigns (the “Lender”).
MORTGAGEMortgage • May 13th, 2011 • Biovest International Inc • Pharmaceutical preparations
This Mortgage (“Security Instrument”) is given on December 7, 2010, by the Mortgagor indicated above (“Mortgagor”), a Minnesota limited liability company to The Economic Development Authority in and for the City of Coon Rapids, a public body corporate and politic under the laws of the State of Minnesota (“Lender”). Mortgagor owes Lender the principal sum of One Hundred Three Thousand and 00/100 Dollars ($103,000.00), evidenced by a Promissory Note (“Note”) of Mortgagor to Lender herewith the following terms:
PROMISSORY NOTEPromissory Note • May 13th, 2011 • Biovest International Inc • Pharmaceutical preparations
Biovest International, Inc. a Delaware corporation, (the “Borrower”), and JMS Holdings, LLC, a Minnesota limited liability company (the “Accommodation Party” and together with the Borrower, the “Maker”), for value received, hereby promises to pay to the City of Coon Rapids (the “City”) or its assigns (the City and any assigns are hereinafter referred to as the “Holder”), at its designated principal office or such other place as the Holder may designate in writing, the principal sum of Two Hundred Fifty Thousand and No/100 Dollars ($250,000) or so much thereof as may be advanced under this Note, with interest as hereinafter provided, in any coin or currency which at the time or times of payment is legal tender for the payment of private debts in the United States of America. The principal of this Note is payable in installments due as follows:
AGREEMENT FOR LOAN OF MINNESOTA INVESTMENT FUNDLoan Agreement • May 13th, 2011 • Biovest International Inc • Pharmaceutical preparations • Minnesota
THIS AGREEMENT is made and entered into as the 16th day of November, by and between the City of Coon Rapids, (the “City”) and Biovest International, Inc. (the “Borrower”);
LOAN AGREEMENTLoan Agreement • May 13th, 2011 • Biovest International Inc • Pharmaceutical preparations • Minnesota
THIS AGREEMENT is made and entered into as the 7th day of December, 2010, by and between the Economic Development Authority in and for the City of Coon Rapids (the “EDA”) and Biovest International, Inc. (the “Borrower”);
Business Subsidy AgreementBusiness Subsidy Agreement • May 13th, 2011 • Biovest International Inc • Pharmaceutical preparations
THIS AGREEMENT is made and entered into as of the 7th day of December, 2010, by and between the Economic Development Authority in and for the City of Coon Rapids (the “City”) and Biovest International, Inc. (the “Borrower”). The provisions herein constitute the “business subsidy agreement” for purposes of the Minnesota Business Subsidy Act (Minnesota Statutes Sections 116J.993-995 and its successor statute.)
