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• <br /> The remedies of the Holder, as provided herein, <br /> and in the Mortgage, the Construction Loan Agreement, the <br /> Assignment of Rents and Leases, the Pledge Agreement and <br /> the Loan Agreement, shall be cumulative and concurrent <br /> and may be pursued singly, successively or together, and, <br /> except as provided in the Mortgage, at the sole discre- <br /> tion of the Holder, and may be exercised as often as <br /> occasion therefor shall occur; and the failure to exer- <br /> cise any such right or remedy shall in no event be con- <br /> strued as a waiver or release thereof. <br /> The Holder shall not be deemed, by any act of <br /> omission or commission, to have waived any of its rights <br /> or remedies hereunder unless such waiver is in writing and <br /> signed by the Holder and then only to the extent <br /> specifically set forth in the writing. A waiver with <br /> reference to one event shall not be construed as <br /> continuing or as a bar to or waiver of any right or remedy <br /> as to a subsequent event. <br /> IT IS HEREBY CERTIFIED AND RECITED that all <br /> conditions, acts and things required to exist, happen and <br /> be performed precedent to or in the issuance of this Note <br /> do exist, have happened and have been performed in regular <br /> and due form as required by law. <br /> IN WITNESS WHEREOF, the City has caused this Note <br /> to be duly executed under its seal this 25th day of <br /> June, 1979. <br /> CITY OF ELK RIVER, MINNESOTA <br /> By: <br /> Mayor <br /> (Seal) <br /> Attest : <br /> City Clerk <br /> 411 <br />