Exhibit 10.2


 


This instrument was
drafted by:

Fredrikson &
Byron, P. A. (SRO)
 200 South Sixth Street
 Suite 4000
 Minneapolis, Minnesota 55402


 


AMENDMENT TO
MORTGAGE


 


THIS AMENDMENT is
made as of the 5th day of April, 2010, by and between Great
Western Bank (“Lender”) and Tower Tech Systems Inc., a Wisconsin corporation (“Grantor”).


 


WHEREAS, Lender is
the owner and holder of a Mortgage - Collateral Real Estate Mortgage - 180 Day
Redemption (“Mortgage”) executed
by Grantor dated April 28, 2009, filed at 12:35 p.m. on May 1,
2009, in the office of the Register of Deeds of Minnehaha County, South Dakota,
and recorded in Book 1624 of Mortgages on Page 349, upon certain real
property in said county and state described therein (the “Mortgaged Property”), and a certain
promissory note (“Note”) secured
thereby and referred to therein;


 


WHEREAS, the
parties wish to amend the Mortgage by revising the definition of Note on page 14 of the Mortgage; and


 


WHEREAS,
construction of the improvements financed with the proceeds of the loan
evidenced by the Note is now complete and the parties, concurrently herewith,
are entering into a Business Loan Agreement to replace the Construction Loan
Agreement referenced in the Mortgage;


 


NOW, THEREFORE,
for valuable consideration, the parties agree as follows:


 


1.         REVISION OF DEFINITION OF NOTE. The
definition of Note on page 14
of the Mortgage is hereby revised to read as follows:


 


Note. The
word “Note” means the Promissory Note dated April 28, 2009, in the
principal amount of $10,000,000, as reduced to $6,500,000 by a Change in Terms
Agreement and Letter Agreement Modifying the Terms of Certain Loan Documents by
and Between Great Western Bank, Lender, and Tower Tech Systems Inc., Borrower,
each dated April 5, 2010, from Grantor to Lender, together with all
renewals of, extensions of, modifications of, refinancings of, consolidations
of, and substitutions for the promissory note.


 


2.         CHANGE IN LOAN AGREEMENT REFERENCES.
All references in the Mortgage to the “Construction Loan Agreement” are changed
to the “Business Loan Agreement.”


 


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3.         SURVIVAL OF OTHER TERMS. All terms and
conditions of the Mortgage, except as herein modified, shall remain in full
force and effect.


 


IN TESTIMONY
WHEREOF, the parties have caused this instrument to be executed as of the date
first above written.


 


	
  LENDER:

  	
  GRANTOR:

  
	
   

  	
   

  
	
  GREAT WESTERN BANK

  	
  TOWER
  TECH SYSTEMS INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Gerald E. Kruger

  	
   

  	
  By:

  	
  /s/ Michael L. Salutz

  
	
  Gerald E. Kruger,
  Senior Vice President

  	
   

  	
  Michael L. Salutz,
  Group Controller and Treasurer

  



 


 


	
  STATE
  OF SOUTH DAKOTA 

  	
  )

  
	
   

  	
  ) ss.

  
	
  COUNTY
  OF Minnehaha

  	
  )

  



 


The foregoing instrument
was acknowledged before me this 30th day of March 2010, by Gerald E. Kruger,
Senior Vice President of Great Western Bank, a South Dakota chartered bank, on
behalf of the bank.


 


	
  [SEAL]

  	
  /s/ Angela K. May

  
	
   

  	
  Notary Public

  
	
   

  	
  Exp: 5/24/2010

  



 


	
  STATE
  OF Wisconsin

  	
  )

  
	
   

  	
  ) ss.

  
	
  COUNTY
  OF Manitowoc

  	
  )

  



 


The foregoing instrument
was acknowledged before me this 26 day of March, 2010, by Michael L. Salutz,
Group Controller and Treasurer of Tower Tech Systems Inc., a Wisconsin
corporation, on behalf of the corporation.


 


	
   

  	
  /s/ Michelle Linsmeier

  
	
   

  	
  Notary Public

  
	
   

  	
  Expires 4/7/13

  



 


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