Document ID: 14295

Text:
| 6.2. | Lenders Right on Default. Upon the occurrence of an Event of Default, Lender may, at its option and without notice: (a) refuse to advance against the Note; (b) accelerate amounts outstanding on the Note and demand their immediate payment in full without presentment or other demand, protest, notice of dishonor or any other notice of any kind, all of which are expressly waived; (c) foreclose its lien on the Property pursuant to the Mortgage; (d) seek appointment of a receiver; and (e) take such other actions as may otherwise be available in equity or at law. All remedies of the Lender shall be cumulative. ---|---|--- | | | 7. | Miscellaneous. | | | 7.1. | Binding Effect. The parties hereto agree that this Agreement shall be binding upon and inure to the benefit of their respective successors in interest and assigns including any holder of the Note, provided, however, that Borrower may not assign or transfer its interest hereunder without the prior written consent of the Lender. | | | 7.2. | Governing Law. This Agreement and the rights and obligations of the parties hereunder and under the Note, as applicable, and any other Loan Documents, shall be construed in accordance with and governed by the laws of the State of Minnesota . Borrower hereby consents to the jurisdiction of the courts of the State of Minnesota for any actions brought hereon or on the Note, as applicable. | | | 7.3. | Notices. Any notices required or contemplated hereunder shall be effective upon two (2) business days after placing thereof in the United States mail, certified mail and with return receipt requested, postage prepaid, and addressed as follows:

Named Entities:
266
268
Court

Tokenized Text:
|
6
.
2
.
|
Lenders
Right
on
Default
.
Upon
the
occurrence
of
an
Event
of
Default
,
Lender
may
,
at
its
option
and
without
notice
:
(
a
)
refuse
to
advance
against
the
Note
;
(
b
)
accelerate
amounts
outstanding
on
the
Note
and
demand
their
immediate
payment
in
full
without
presentment
or
other
demand
,
protest
,
notice
of
dishonor
or
any
other
notice
of
any
kind
,
all
of
which
are
expressly
waived
;
(
c
)
foreclose
its
lien
on
the
Property
pursuant
to
the
Mortgage
;
(
d
)
seek
appointment
of
a
receiver
;
and
(
e
)
take
such
other
actions
as
may
otherwise
be
available
in
equity
or
at
law
.
All
remedies
of
the
Lender
shall
be
cumulative
.
-
-
-
|
-
-
-
|
-
-
-
|
|
|
7
.
|
Miscellaneous
.
|
|
|
7
.
1
.
|
Binding
Effect
.
The
parties
hereto
agree
that
this
Agreement
shall
be
binding
upon
and
inure
to
the
benefit
of
their
respective
successors
in
interest
and
assigns
including
any
holder
of
the
Note
,
provided
,
however
,
that
Borrower
may
not
assign
or
transfer
its
interest
hereunder
without
the
prior
written
consent
of
the
Lender
.
|
|
|
7
.
2
.
|
Governing
Law
.
This
Agreement
and
the
rights
and
obligations
of
the
parties
hereunder
and
under
the
Note
,
as
applicable
,
and
any
other
Loan
Documents
,
shall
be
construed
in
accordance
with
and
governed
by
the
laws
of
the
State
of
Minnesota
.
Borrower
hereby
consents
to
the
jurisdiction
of
the
courts
of
the
State
of
Minnesota
for
any
actions
brought
hereon
or
on
the
Note
,
as
applicable
.
|
|
|
7
.
3
.
|
Notices
.
Any
notices
required
or
contemplated
hereunder
shall
be
effective
upon
two
(
2
)
business
days
after
placing
thereof
in
the
United
States
mail
,
certified
mail
and
with
return
receipt
requested
,
postage
prepaid
,
and
addressed
as
follows
: