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ARTICLE SEVEN <br /> MISCELLANEOUS <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 /> 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 /> 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 /> F &M Improvements, LLC <br /> 18489 Twin Lakes Road <br /> Elk River, MN 55330 <br /> Attention: Fred Trapp <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 /> 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 /> 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 /> 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 /> [Signature Page follows] <br /> 19 <br /> 477384v3 EL185-40 <br />