Art's-way Manufacturing Co. Inc. Watch

from 10-Q 2 pages U.S. Small Business Administration Note (Secured Disaster Loans) Date: 06.24.2020 Loan Amount: $150,000.00 Annual Interest Rate: 3.75% Sba Loan # 2299368007 Application #3304243644 1. Promise to Pay: In Return for a Loan, Borrower Promises to Pay to the Order of Sba the Amount of One Hundred and Fifty Thousand and 00/100 Dollars ($150,000.00), Interest on the Unpaid Principal Balance, and All Other Amounts Required by This Note

from 10-Q 2 pages 2. Definitions: A) “Collateral” Means Any Property Taken as Security for Payment of This Note or Any Guarantee of This Note. B) “Guarantor” Means Each Person or Entity That Signs a Guarantee of Payment of This Note. C) “Loan Documents” Means the Documents Related to This Loan Signed by Borrower, Any Guarantor, or Anyone Who Pledges Collateral

from 10-Q 2 pages 2. Definitions: A) “Collateral” Means Any Property Taken as Security for Payment of This Note or Any Guarantee of This Note. B) “Guarantor” Means Each Person or Entity That Signs a Guarantee of Payment of This Note. C) “Loan Documents” Means the Documents Related to This Loan Signed by Borrower, Any Guarantor, or Anyone Who Pledges Collateral

from 8-K 14 pages Notice: This Mortgage Secures Credit in the Amount of $600,000.00. Loans and Advances Up to This Amount, Together With Interest, Are Senior to Indebtedness to Other Creditors Under Subsequently Recorded or Filed Mortgages and Liens

from 8-K 15 pages Notice: This Mortgage Secures Credit in the Amount of $2,600,000.00. Loans and Advances Up to This Amount, Together With Interest, Are Senior to Indebtedness to Other Creditors Under Subsequently Recorded or Filed Mortgages and Liens

from 8-K 14 pages Notice: This Mortgage Secures Credit in the Amount of $500,000.00. Loans and Advances Up to This Amount, Together With Interest, Are Senior to Indebtedness to Other Creditors Under Subsequently Recorded or Filed Mortgages and Liens

from 8-K 13 pages Forbearance and Fourth Loan Modification Agreement

from 10-Q 19 pages Third Loan Modification Agreement

from 10-Q 15 pages Second Loan Modification Agreement

from 8-K 16 pages Loan Modification Agreement

from 10-Q 3 pages Amendment to Loan Agreement and Note

from 10-Q 3 pages Amendment to Loan Agreement and Note

from 10-K ~5 pages Promissory Note Recipient: Art's-Way Scientific, Inc. Community: City of Monona Contract Number: 07-Ceba-043 (51.4% of Remaining Loan Balance) Promissory Note

from 10-K ~5 pages Promissory Note Recipient: Art's-Way Scientific, Inc. Community: City of Monona Contract Number: 07-Ceba-043 (Forgivable Loan Shortfall and 48.6% of Remaining Loan Balance) Promissory Note

from 10-Q 5 pages Exhibit 10.6 - Business Loan Agreement

from 10-Q/A 3 pages April 27, 2010 Facility/Purpose: $6,000,000 Revolving Line of Credit With Advances Funding the Working Capital, Letter of Credit, and Corporate Credit Card Needs of Borrowers. Maturity Dates: April 30, 2010 Interest Rates/Fees: The Bank's Prime Interest Rate (Presently 3.25%) Adjusted Daily With an Interest Rate Floor or Minimum Rate of 4.00%. Payment Schedule: Monthly Interest Only Payments Shall Be Required. All Remaining Unpaid Principal and Interest Shall Be Due on the Maturity Date of April 30, 2011 Collateral: First and Paramount Security and Mortgage Interests in All Assets Owned by the Borrower and All Subsidiary Companies Including, but Not Limited to Cash, Inventory, Accounts, Accounts Receivable, Equipment, and Real Estate. Other Terms and Conditions: 1) Borrowers Agree to Provide the Bank With the Following Financial Reports

from 10-Q 31 pages Loan Agreement Between the Iowa Finance Authority and Art’s-Way Manufacturing Co., Inc. Dated as of May 1, 2010

from 10-Q 16 pages Business Loan Agreement

from 10-Q 2 pages May 21, 2009 Mr. J. Ward McConnell, Jr., Chairman Ms. Carrie Majeski, President Art’s-Way Manufacturing Co., Inc. 5556 Highway 9 West P.O. Box 288 Armstrong, Ia 50514 Re: Replacement and Update to Commitment Letter Dated April 30, 2009 Facility/Purpose: $6,000,000 Revolving Line of Credit With Advances Funding the Working Capital, Letter of Credit, and Corporate Credit Card Needs of Borrowers. Maturity Date: April 30, 2010 Interest Rate: The Bank’s Prime Interest Rate (Presently 3.25%) Adjusted Daily With an Interest Rate Floor of 4.00%. Payment Schedule: Monthly Interest Only Payments Shall Be Required. All Remaining Unpaid Principal and Interest Shall Be Due on the Maturity Date of April 30, 2010. Collateral: First and Paramount Security and Mortgage Interests in All Assets Owned by the Borrower and All Subsidiary Companies Including, but Not Limited to Cash, Inventory, Accounts, Accounts Receivable, Equipment, and Real Estate. Other Terms and Conditions: 1) Borrowers Agree to Provide the Bank With the Following Financial Reports

from 10-K 11 pages Business Loan Agreement