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9.Time of Essence. Time is of the essence in the performance of this <br />Agreement. <br />10.Assignability. Borrower shall not assign this Agreement without written consent <br />of Lender, which consent may be withheld, conditioned or delayed in Lender’s sole discretion. <br />Lender may freely assign or otherwise transfer (including by participation) all or any part of its <br />interest in the Loan or any or all of the Loan documents, in Lender’s sole discretion. <br />11.Miscellaneous Covenants of Borrower. Borrower covenants and agrees with <br />Lender that, without cost to Lender, Borrower will or will cause Entity Guarantor to: <br />(a)Performance of Conditions. Promptly keep, perform and comply with all of the terms, <br />covenants and conditions to be kept and performed by Borrower and/or Entity Guarantor, <br />as required by the City of Elk River (the “City”) and any other governmental body having <br />jurisdiction over the Loan Property; keep unimpaired the rights of Borrower and/or Entity <br />Guarantor under any permit or agreement issued or made by the City or other <br />governmental body having jurisdiction over the Loan Property; and to enforce the prompt <br />performance of all of the terms, covenants and conditions to be kept and performed by <br />the City or other governmental body having jurisdiction over the Loan Property, <br />respectively, under any permits or agreements issued or made by the City or such other <br />governmental bodies, and any contractors under all contracts obtained or held by <br />Borrower and/or Entity Guarantor in connection with construction or operation of the <br />Borrower or Entity Guarantor’s businesses. <br />(b)Amendment, Etc. of Documents. Not amend, cancel, terminate, supplement or waive any <br />of the material terms, covenants and conditions of any permit or agreement issued or <br />made by the City or any other governmental body having jurisdiction over the Loan <br />Property, or any other contracts obtained or held by Borrower and/or Entity Guarantor in <br />connection with any contracts, documents or agreements referred toherein without the <br />prior written approval of Lender. <br />(c)Performance of Note, Security Agreement, etc. Without limiting the foregoing, keep and <br />perform all of the terms, covenants, conditions and requirements of the Note, the <br />Mortgage, the Security Agreement and this Agreement. <br />(d)Insurance. During the term of this Agreement, Borrower shall procure and maintain or <br />cause to be procured and maintained at its sole expense, casualty insurance, public <br />liability insurance and such other types of insurance as are reasonably required by Lender <br />from time to time, including without limitation the coverages expressly required by the <br />Mortgage, with coverages and in amounts normally held by owners of property similar to <br />the Loan Property (as improved) and with companies satisfactory to Lender. The policy <br />or policies or duly executed certificate or certificates for such insurance and renewals or <br />replacements thereof shall be deposited with Lender. <br />5 <br />477330v1EL185-40 <br /> <br />