8932-17 Authorize three-year loan to Western Reserve Distillers

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EXHIBIT B 12650 Detroit Avenue • Lakewood, Ohio 44107 • (216) 529 -6630 • (216) 529 -5936 FAX OPEN -END MORTGAGE This Open -End Mortgage is executed and made this day of _ 2017, by Western Reserve Distillers, LLC (the "Mortgagor'), whose address is , Ohio 44_ in favor of the CITY OF LAKEWOOD, OHIO, a political subdivision of the state of Ohio and whose address is 12650 Detroit Avenue, Lakewood, Ohio 44107 (hereinafter called "Lender "). WHEREAS, Mortgagor is indebted to Lender in the principal sum of Ninety Thousand Dollars($90,000), which indebtedness is evidenced by Mortgagor's promissory note of even date herewith (the "Note "); and NOW, THEREFORE, to secure to Lender: (a) the repayment of: (i) the indebtedness evidenced by the Note and (ii) all other sums advanced in accordance herewith to protect the security of this Mortgage, all with interest thereon; and (b) the performance of the covenants and agreements of Borrower herein contained, Mortgagor does hereby execute and deliver this Mortgage, and herby grants and conveys to Lender a security interest in all of Mortgagor's estate, title and interest in the property located in Lakewood, County of Cuyahoga and State of Ohio as described in Attachment A, attached hereto and made a part hereof, said premises more commonly known as Lakewood, Ohio (hereinafter from time to time the "Property "); and In furtherance hereof, the Mortgagor represents and covenants to Lender: 1. That at the execution and delivery of this Mortgage, Mortgagor is well- seized of the Property in fee simple, has good and marketable title and right to bargain and sell the same in manner and form as above written, that the same is free from all encumbrances whatsoever except for easements, covenants, conditions, restrictions, limitations and liens of record on the date hereof; and that Mortgagor will warrant and defend said Property, as above conveyed, with the above - mentioned appurtenances to the said Lender, its successors, agents and assigns, forever, against all lawful claims or demands whatsoever. 2. That the lien, pledge and security interest of this Mortgage is a good and valid lien, pledge and security interest on all of the Property, subject to mortgage[s] in favor of (hereinafter collectively referred to as the "Senior Mortgage "). All rights granted to the Lender hereunder are subject and subordinate to the holders of the Senior Mortgage.