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obtained or held by Borrower in connection with the construction <br /> of and any other contracts; (c) to perform each of the terms, <br /> covenants and conditions to be kept and performed by Borrower <br /> under any permit or authorization issued by the City or any other <br /> governmental body having jurisdiction over the Loan Property or <br /> the construction contracts or any other contracts and/or leases <br /> obtained or held by Borrower in connection with the construction <br /> or operation of the Improvements, and any other contracts; (d) <br /> without limiting the foregoing to perform each of the terms, <br /> covenants and conditions to be kept or performed by Borrower <br /> under this Agreement, the Mortgage and any other instrument <br /> required under this Agreement; and (e) to do all things that Lender <br /> reasonably deems necessary or advisable for the purpose of <br /> carrying out the powers enumerated in (a), (b), (c) and (d) of this <br /> Subparagraph(ii); <br /> (iii) The powers herein granted Lender shall be deemed to be powers <br /> coupled with an interest and the same are irrevocable; <br /> (4) cancel this Agreement; <br /> (5) bring appropriate action to enforce such performance and the <br /> correction of such Event of Default; <br /> (6) declare the entire unpaid principal of the Note and all accrued <br /> interest thereon immediately due and payable without notice; <br /> (7) foreclose the Mortgage and any other security instrument referred <br /> to in this Agreement and/or exercise any other rights or remedies it may have <br /> under the Mortgage and such other security instrument. <br /> 16. Default under Note and Mortgage. The failure by Borrower to keep or <br /> perform any of the terms, covenants and conditions to be kept or performed by it under <br /> this Agreement shall constitute a default under the Note, the Mortgage and any other <br /> security instrument held by Lender in connection with the Loan. <br /> 17. Notices. Any notices given hereunder shall be in writing and shall be <br /> deemed to have been given when delivered personally or three (3) days after deposited in <br /> the United States mail, registered,postage prepaid, addressed as follows: <br /> If to Borrower: <br /> Yankee Doodle Enterprises, LLC <br /> 13374 U.S.Highway 10 <br /> Elk River, Minnesota 55330 <br /> Attention: Brian Brehmer <br /> -12- <br />