1. MIDA Bond Oak Grove Lutheran School

LOAN AGREEMENT THIS LOAN AGREEMENT dated as of July 1,2006, between CASSCOUNTY, apolitical subdivision of the State of North Dakota, (the "Issuer"), and OAK GROVE LUTHERAN SCHOOL, a North Dakota nonprofit corporation (the "Corporation"). WITNESSETH that the Issuer and the Corporation, each in consideration of the representations, covenants, and agreements of the other as set forth herein, mutually represent, covenant, and agree as follows: ARTICLE 1 DEFINITION, EXHIBITS, AND RULES OF INTERPRETATION SECTION 1.01. DEFINITIONS. In this Loan Agreement, the terms defined in the Resolution shall have the same meaning herein, and the following terms have the following respective meanings unless the context hereof clearly requires otherwise: "Act" means Chapter 40-57, North Dakota Century Code, as amended. "Additiollal Paymellts" means the sums to be paid by the Corporation pursuant to Section 4.03 hereof. "Assigllmellt" means the Assignment of Capital Campaign Contributions from the Corporation to the Lender dated as of the date hereof, as the same may be amended from time to time. "Basic Paymellts" means the sums to be paid by the Corporation pursuant to Section 4.02 hereof. "Bolld" or "Bollds" means the Series 2006 Bonds. "Bolld Accoullt" means the account created by Section 2.11 (a) of the Resolution. "Bolld Coullsel" means an attorney or firm of attorneys at law of nationally recognized standing in the field of law relating to exemption from federal income taxation with respect to interest on municipal bonds. "Bolldholder" or "Holder" or "Owller" means the person in whose name a Bond shall be registered on books of the Issuer kept for that purpose in aceordance with the terms of the Resolution. 1-1