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the account of the Borrower and at its sole discretion to release such payments, collections and <br /> proceeds to the Borrower or apply the same to the payment of indebtedness; to enforce rights <br /> against third parties; and otherwise to do and refrain from doing any and all acts and things <br /> which it would be required or permitted to do or refrain from doing under or with respect to the <br /> loan documents as fully as if it had retained its entire interest as lender under the loan <br /> documents,but acting on behalf of Purchaser. <br /> Executed as of the date first above written. <br /> ECONOMIC DEVELOPMENT <br /> AUTHORITY FOR THE CITY <br /> OF ELK RIVER <br /> By: Catherine Mehelich <br /> Title: Executive Director <br /> THE BANK OF ELK RIVER <br /> • By: Tom McNair <br /> Its: Vice President <br /> • <br />