Laserfiche WebLink
<br />ARTICLE SEVEN <br /> <br />MISCELLANEOUS <br /> <br /> <br />7.1.Mortgagee’s Remedies Cumulative. All remedies of Mortgagee are distinct and <br />cumulative to any other right or remedy under this Mortgage or afforded by law or equity, and <br />may be exercised concurrently or independently, as often as the occasion therefore arises. <br /> <br /> <br />7.2.Successors and Assigns Bound; Captions. The covenants and agreements herein <br />contained shall bind, and the rights hereunder shall inure to, the respective heirs, legal <br />representatives, successors and assigns of Mortgagee and Mortgagor. The captions and headings <br />of the Sections of this Mortgage are for convenience only and are not to be used to interpret or <br />define the provisions hereof. <br /> <br /> <br />7.3.Notices. Any notice from Mortgagee to Mortgagor under this Mortgage shall be <br />deemed to have been given by Mortgagee and received by Mortgagor, when delivered personally <br />to an officer of Mortgagor or three (3) days after the date it is mailed by certified mail addressed <br />as follows: <br /> <br />Scott Morrell, LLC <br />10752 171st Avenue <br />Elk River, MN 55330 <br />Attention: Terry and Renee Morrell <br /> <br /> <br />7.4.Governing Law; Severability. This Mortgage shall be governed by the laws of the <br />State of Minnesota. In the event that any provision or clause of this Mortgage conflicts with <br />applicable law, such conflict shall not affect other provisions of this Mortgage which can be <br />given effect without conflicting provisions and to this end the provisions of this Mortgage are <br />declared to be severable. <br /> <br /> <br />7.5.Counterparts. This Mortgage may be executed in any number of counterparts, <br />each of which shall be an original but all of which together shall constitute one instrument. <br /> <br /> <br />7.6.Waiver of Appraisement, Homestead, Marshaling. Mortgagor hereby waives the <br />benefit of any homestead, appraisement, evaluation, stay and extension laws now or hereinafter <br />in force. Mortgagor hereby waives any rights available with respect to marshaling of assets so as <br />to require the separate sales of any portion of the Mortgaged Property or to require Mortgagee to <br />exhaust its remedies against a specific portion of the Mortgaged Property before proceeding <br />against the other. <br /> <br /> <br />7.7.Subsequent Agreements. Any agreement hereafter made by Mortgagor and <br />Mortgagee pursuant to this Mortgage shall be superior to the rights of the holder of any <br />intervening lien or encumbrance. <br /> <br />\[Signature Page follows\] <br />19 <br />464431v2 EL185-33 <br />