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MORTGAGE HOLDER CONSENT <br />AND SUBORDINATION TO <br />DEVELOPMENT CONTRACT <br />BRIDGEWATER BANK, a Minnesota banking corporation, the holder of a mortgage <br />dated August , 2019, filed for record with the Hennepin County Recorder of Deeds on <br />2019, as Document No. , hereby consents to the recording of <br />the attached Development Contract for Willow Bay Sanctuary and agrees that its rights in the <br />property affected by the Development Contract shall be subordinated thereto, and that the <br />Development Contract shall remain in full force and effect even if it forecloses on its mortgage. <br />IN WITNESS WHEREOF, Bridgewater Bank, a Minnesota banking corporation, has <br />caused this Consent and Subordination to be executed this day of , 2019. <br />BRIDGEWATER BANK <br />a Minnesota banking corporation <br />[print name] <br />Its [title] <br />STATE OF MINNESOTA ) <br />)ss. <br />COUNTY OF ) <br />The foregoing instrument was acknowledged before me this <br />2019, by , the <br />Bank, a Minnesota banking corporation, on behalf of the entity. <br />Notary Public <br />DRAFTED BY: <br />CAMPBELL KNUTsoN <br />Professional Association <br />Grand Oak Office Center I <br />860 Blue Gentian Road, Suite 290 <br />Eagan, Minnesota 55121 <br />651-452-5000 <br />ABS <br />20 <br />20214lv4 <br />day of <br />of Bridgewater <br />