7.5. SR 07-20-2015 - Laserfiche WebLink

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out the powers enumerated in (a), (b), (c) and (d) of this Subparagraph (ii); (iii)The powers herein granted Lender shall be deemed to be powers coupled with an interest and the same are irrevocable; (c)cancel this Agreement; (d)bring appropriate action to enforce such performance and the correction of such Event of Default; (e)declare the entire unpaid principal of the Note and all accrued interest thereon immediately due and payable without notice; (f)exercise any remedies under the Entity Guaranty, the Personal Guaranties, or the Security Agreement, foreclose the Mortgage and any other security instrument referred to in this Agreement and/or exercise any other rights or remedies it may have under the Entity Guaranty, the Personal Guaranties, Security Agreement, the Mortgage and any other security instruments. 16.Default under Note and Security Agreement. The failure by Borrower to keep or perform any of the terms, covenants and conditions to be kept or performed by it under this Agreement shall constitute a default under the Note, the Security Agreement and any other security instrument held by Lender in connection with the Loan. 17.Notices. Any notices given hereunder shall be in writing and shall be deemed to have been given when delivered personally or three (3) days after deposited in the United States mail, registered, postage prepaid, addressed as follows: If to Borrower: Scott Morrell, LLC 13001 Twilight Road Onamia, MN 56359 Attention: Chief Executive Manager/President If to Lender: Economic Development Authority of the City of Elk River 13065 Orono Parkway Elk River, Minnesota 55330 Attn: Director of Economic Development or addressed to any such party at such other address as such party shall hereafter furnish by notice to the other party. Any notice delivered personally to Borrower shall be delivered to an officer of Borrower, and any notice delivered personally to Lender shall be delivered to an 9 464429v2 EL185-33