6.3. EDSR 12-21-2015 - Laserfiche WebLink

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(c) Neither Bank nor the EDA: (i) makes any representation or warranty concerning the Collateral or the validity, perfection or (except as to the subordination accomplished hereby) priority of any security interest thereon; or (ii) has any duty to preserve, protect, care for, insure, take possession of, collect, dispose of or otherwise realize upon any of the Collateral. (d) As set forth in the loan agreement by and between Borrower and the EDA, Borrower may qualify for forgiveness of the indebtedness owed to the EDA if it meets certain conditions. If Borrower so qualifies, the EDA is obligated to provide Borrower with a Financing Statement release sufficient to release within a reasonable time after the EDA's determination of Borrower's qualification. In such event, the EDA shall also provide Bank with a copy of such release at the same time as it provides Borrower a copy thereof. 3. Waiver of Notice of Certain Events. Except as expressly provided in this Agreement, each party waives notice of the following events or occurrences: (a) The amendment or substitution of any agreement, instrument or document now or at any time or times hereafter granting Borrower any indulgences or extensions of time for payment; and (b) Presentment, demand, notices of default, nonpayment or partial payment, protest, notice of protest and all other notices and formalities to which a party might be entitled. 4. No Other Subordination. Except for the subordination accomplished hereby, the priority of rights and claims of Bank and the EDA as creditors of Borrower will not be affected or impaired by this Agreement. 5. Notices. Any notice, offer, request, demand, claim or other communication provided for by this Agreement must be in writing and will be deemed delivered when delivered by hand, transmitted by facsimile or overnight delivery, or three days after the day when deposited in the United States mail, certified or registered, return receipt requested, postage prepaid and properly addressed to the intended recipient as set forth below: If to Bank : The Bank of Elk River Attn: Dan Haas 630 Main Street Elk River. MN 55330 If to EDA: THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF ELK RIVER Attn: Director of Economic Development 13065 Orono Parkway Elk River, MN 55330 6. Miscellaneous. This Agreement cannot be amended except in writing. This Agreement is binding on and benefits the parties and their respective successors and assigns. This Agreement may be signed in counterparts, each of which will be an original and part of the same instrument. 7. Governing Law. This Agreement shall be construed according to the laws of the State of Minnesota.