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_ __ <br />_ _ ..... . _ . . .. .... . <br />LOAN AGREEMENT <br />BETWEEN <br />ARDEN HILLS, MINNESOTA <br />. � <br />PRESBYTERTAN HQMES MANAGEMENT <br />AND SERV�CES, INC. <br />Dated as of Septernber , 2008 <br />Except for certain reserved rights, the interest of the City af Arden Hills, Miruaesoia, in this Loan <br />Agreement has been pledged and assigned to University Bank, p�u-suant to a Pledg� Agreemeni <br />of even date herewith. <br />This instrument was drafted by: <br />BRIGGS �1ND MORGAN (JSB) <br />Professional Association <br />22Q0 First National Bank Building <br />Si. Paul, Minnesota 55101 <br />2208&45v4 <br />