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LOAN AND REAL ESTATE AGREEMENT

Loan Agreement

LOAN AND REAL ESTATE AGREEMENT | Document Parties: MIDDLETON DOLL CO | INVESTORSBANK | Bando McGlocklin Small Business Lending Corporation You are currently viewing:
This Loan Agreement involves

MIDDLETON DOLL CO | INVESTORSBANK | Bando McGlocklin Small Business Lending Corporation

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Title: LOAN AND REAL ESTATE AGREEMENT
Governing Law: Wisconsin     Date: 3/31/2006
Industry: Real Estate Operations    

LOAN AND REAL ESTATE AGREEMENT, Parties: middleton doll co , investorsbank , bando mcglocklin small business lending corporation
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LOAN AND REAL ESTATE SERVICES AGREEMENT

         THIS LOAN AND REAL ESTATE SERVICES AGREEMENT , made as of this 14th day of October, 2005 and effective as of January 1, 2006, by and between InvestorsBank , a Wisconsin banking organization (“Bank”), on the one hand, and The Middleton Doll Company and Bando McGlocklin Small Business Lending Corporation (such corporations collectively referred to herein as “Bando”), on the other hand.

         WHEREAS , the Bank and Bando have hereunto established a contractual relationship under a Second Amended and Restated Management Services and Allocation of Expenses Agreement, dated as of January 1, 2004 between such parties, in order to permit employees of the Bank to manage the loans (i) made by Bando that are either on Bando’s balance sheet or sold by Bando but for which Bando retains servicing obligations, if any; and (ii) originated by the Bank or other financial institutions which are purchased by Bando (in whole or in part) (collectively, the “Bando Loans”), to permit Bank employees to provide accounting services to Bando, to provide leased property services to Bando and to share certain overhead expenses as between the Bank and Bando, all in accordance with the terms and conditions of such agreement; and

         WHEREAS , Bando and the Bank each possess similar loan assets requiring loan administration services and expertise; and

         WHEREAS , the Bank employs persons with the necessary qualifications and expertise to manage and provide loan administration services for the Bando Loans, to provide accounting services to Bando and to provide leased property services; and

         WHEREAS , the Bank and Bando desire the Bank to provide rental space to Bando for a monthly fee as described herein;

         NOW, THEREFORE , for and in consideration of the premises and mutual covenants contained in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

        1.     Loan Management and Related Services to Bando .

        The Bank shall service and administer the Bando Loans and shall have full power and authority, acting alone, to do any and all things in connection with such servicing and administration which the Bank may deem necessary or desirable including, but not limited to, the following:

        The Bank may waive, modify or vary any term of any Bando Loan or consent to the postponement of strict compliance with any such term or in any manner grant indulgence to any obligor if, in the Bank’s determination, such waiver, modification, postponement or indulgence is in the best interests of Bando; provided , however , that, unless the obligor is in default with respect to a Bando Loan, or such default is, in the judgment of the Bank, imminent, the Bank may not permit any modification with respect to any Bando Loan that would change the loan interest rate, defer or forgive the payment of any principal or interest (unless in connection with the liquidation of the related Bando Loan), or extend the final maturity date on such Bando Loan. All out of pocket costs incurred by the Bank, including but not limited to, the cost of appraisals, title insurance and attorneys’ fees shall be added to the amount owning under the related Bando Loan. Without limiting the generality of the foregoing, the Bank shall continue and is hereby authorized and empowered to execute and deliver on behalf of Bando all instruments of satisfaction or cancellation, or of partial or full release, discharge and all other comparable instruments, with respect to the Bando Loans and with respect to any mortgaged properties or other collateral. If reasonably required by the Bank, Bando shall furnish the Bank with any powers of attorney and other documents necessary or appropriate to enable the Bank to carry out its servicing and administrative duties under this Agreement.


        In consideration for the Bank’s loan management services to Bando under Section 1.(a), the Bank shall charge and Bando shall pay on a monthly basis a fee equal to one twelfth of twenty five (25) basis points multiplied by the amount of Bando Loans outstanding at the end of the preceding month plus all of the Bank’s out of pocket expenses described in Section 1.(a).

        From time to time, the Bank may sell, and Bando may purchase, participations in loans made by the Bank. Any such participations shall be made proportionately with the face amount of such loans and shall bear the same interest rate. No loan origination fees shall be paid with respect to such loans.

        2.     Leased Property Servicing .

        (a)     In general, Bank shall be Bando’s agent in all matters relating to the lease arrangements between Bando, as property owner, and lessees (the properties subject to such lease arrangements being called the “Leased Properties”), including the collection of rents and insuring that real estates taxes are duly paid and that insurance coverages are maintained. Bank, as Bando’s agent, shall deal directly with lessees and others in all matters pertaining to such leases.

        (b)     On all properties originally acquired by Bando from Bando McGlocklin Real


 
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