7.5. SR 07-15-2013 - Laserfiche WebLink

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Borrower shall maintain property insurance covering the Collateral that secures this Loan until such time as the Loan is paid in full. Borrower may obtain the property insurance from any reputable insurance company of Borrower's choice that is reasonably acceptable to the City. Borrower and all other makers, co-signers and sureties shall be jointly and severally liable under this Note. GENERAL PROVISIONS. A. TIME IS OF THE ESSENCE. Time is of the essence in Borrower's performance of all duties and obligations imposed by this Note. B. NO WAIVER BY CITY. No delay or omission on the part of the City in exercising any right hereunder shall operate as a waiver of such right or of any other remedy under this Note. A waiver on any one occasion shall not be construed as a bar to or waiver of any such right or remedy on a future occasion, unless any such waiver is in writing and is signed by the City. C. AMENDMENT. The provisions contained in this Note may not be amended, except through a written amendment that is signed by Borrower and the City. D. INTEGRATION CLAUSE. This written Note, the Mortgage and the Agreement and all documents executed concurrently herewith, represent the entire understanding between the parties as to the obligations and may not be contradicted by evidence of prior, contemporaneous, or subsequent oral agreements of the parties. E. FURTHER ASSURANCES. Borrower agrees,upon the City's request and within a reasonable time period, to provide any information, and to execute, acknowledge, deliver and record or file such further instruments or documents as the City may reasonably require to secure this Note or confirm any lien. F. GOVERNING LAW. This Note shall be governed by the laws of the State of Minnesota,provided that such laws are not otherwise preempted by federal laws and regulations. G. FORUM AND VENUE. In the event of litigation pertaining to this Note, the exclusive forum, venue and place of jurisdiction shall be in the State of Minnesota, unless otherwise designated in writing by the City or otherwise required by law. H. SUCCESSORS. This Note shall inure to the benefit of and bind the heirs, personal representatives, successors and assigns of the parties; provided however, that Borrower may not assign,transfer or delegate any of the rights or obligations under this Note. L NUMBER AND GENDER. Whenever used, the singular shall include the plural, the plural the singular, and the use of any gender shall be applicable to all genders. 171419v1 19