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Borrower; provided, nothing contained in this guaranty shall deprive the undersigned of any claim, <br /> • right or remedy, after the Indebtedness has been fully paid, against any person other than the <br /> Borrower. No delay or failure by the Lender in exercising any right, and no partial or single exercise <br /> thereof shall constitute a waiver thereof. No waiver of any rights hereunder, and no modification or <br /> amendment of this guaranty shall be effective unless the same is in writing duly executed by the <br /> Lender, and each such waiver, if any, shall apply only with respect to the specific instance involved <br /> and shall not impair or affect the rights of the Lender or the provisions of this guaranty in any other <br /> respect at any other time. This guaranty shall continue until written notice of revocation of this <br /> guaranty, executed by the undersigned, has been received by the Lender; provided, no revocation of <br /> this guaranty shall affect in any manner any liability of the undersigned under this guaranty with <br /> respect to Indebtedness arising before the Lender receives such written notice of revocation, and the <br /> sole effect of revocation of this guaranty shall be to exclude from this guaranty Indebtedness <br /> thereafter arising which is unconnected with Indebtedness theretofore arising or transactions <br /> theretofore entered into. <br /> Any invalidity or unenforceability of any provision or application of this guaranty shall <br /> not affect other lawful provisions and applications hereof and to this end the provisions of this <br /> guaranty are declared to be severable. This guaranty shall bind the undersigned and the heirs, <br /> representatives, successors and assigns of the undersigned, and of each of them respectively, and shall <br /> benefit the Lender, its successors and assigns. This guaranty shall be governed by and construed in <br /> accordance with the laws of the State of Minnesota. <br /> • THE UNDERSIGNED REPRESENT,CERTIFY,WARRANT AND AGREE THAT <br /> THE UNDERSIGNED HAVE READ ALL OF THIS GUARANTY AND UNDERSTAND ALL <br /> OF THE PROVISIONS OF THIS GUARANTY. THE UNDERSIGNED ALSO AGREE THAT <br /> COMPLIANCE BY THE LENDER WITH THE EXPRESS PROVISIONS OF THIS GUARANTY <br /> SHALL CONSTITUTE GOOD FAITH AND SHALL BE CONSIDERED REASONABLE FOR <br /> ALL PURPOSES. <br /> 4° <br /> r . <br /> Larry awson <br /> S ve hiting <br /> • <br /> PhillA 543278.1 3. <br />