Exhibit 10.1
February 10, 2016
Art’s-Way Manufacturing Co., Inc.
5556 Highway 9
Armstrong, IA 50514-7566
Re: | Obligation Paid in Full |
Ladies and Gentlemen:
Reference is made to the Obligation (22 / 7431732097 / 42) dated as of May 1, 2013 between Art’s-Way Manufacturing Co., Inc. (the “Borrower”) and U.S. Bank National Association (the “Bank”).
This obligation is now paid in full and a request to release the mortgage for 101 Dayton Ave., Ames, IA 50010 has been processed.
Payoff As of February 10, 2016
Principal: $1,077,392.95
Interest: $ 802.66
Total Amount: $1,078,195.61
If you have any questions regarding this notice, please contact Doug Ragaller at (XXX)-XXX-XXXX.
Sincerely,
U.S. BANK NATIONAL ASSOCIATION
Doug Ragaller, Market President