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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 /> Preferred Powder Coating, LLC <br /> 1369 Mississippi Street <br /> New Brighton, MN 55112 <br /> Attention: Lloyd Peterson <br /> If to Lender: "At <br /> Economic Development Authority of th City of Elk River <br /> 13065 Orono Parkway <br /> Elk River, Minnesota 55330 <br /> Attn: Director of Economic Development <br /> or addressed to any such party at such other address as such party shall Ater furnish <br /> by notice to the other party. Any notice delivered personally to Borrower shall be <br /> delivered to an officer of Borrower, and any notice delivered personally to Lender shall <br /> be delivered to an officer of Lender at the address for Lender for the mailing of notices. <br /> Either party may change its address for the giving of notices by giving the other party at <br /> least ten (10) days' notice in the manner provided above. <br /> 18. Headings. The headings used in this Agreement are for convenience only <br /> and do not define, limit or construe the contents of this Agreement. <br /> Binding on Successors and Assigns. Subject to the limitations on transfer <br /> contained in this Agreement, this Agreement shall be binding upon and inure to the <br /> benefit of the successors and assigns of the parties hereto. <br /> 20. Governing Law. This Agreement shall be governed by and construed in <br /> accordance with the laws of Minnesota, without giving effect to any choice or conflict of <br /> law provision or rule. <br /> 21. Counterparts. This Agreement may be executed in two (2) or more <br /> counterparts, each of which shall be an original and all of which shall constitute the same <br /> agreement. <br /> 22. Entire Agreement. This Agreement, the Note, the Security Agreement and <br /> the other documents executed by Borrower and/or Lender pursuant to this Agreement <br /> contain the entire agreement between the parties with respect to the subject matter hereof <br /> and supersede all prior understandings and agreements, both oral and written. This <br /> Agreement may be amended only in a writing signed by the parties hereto. <br /> -14- <br />