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actions or proceedings in connection with the Loan Property or the <br /> Equipment and do any and every act which Borrower might do in its own <br /> behalf; (b) OMITTED; (c) to perform each of the terms, covenants and <br /> conditions to be kept and performed by Borrower under any contracts <br /> and/or leases obtained or held by Borrower in connection with the <br /> operation of the Improvements or the purchase of the Equipment, and any <br /> other contracts; (d) without limiting the foregoing, to perform each of the <br /> terms, covenants and conditions to be kept or performed by Borrower <br /> under this Agreement, the Security Agreement and any other instrument <br /> required under this Agreement,or the Microloan Documents; and(e)to do <br /> all things that Lender reasonably deems necessary or advisable for the <br /> purpose of carrying out the powers enumerated in (a), (b), (c) and (d) of <br /> this Subparagraph(ii); <br /> (iii) The powers herein granted Lender shall be deemed to be powers coupled <br /> with an interest and the same are irrevocable; <br /> (4) cancel this Agreement; <br /> (5) bring appropriate action to enforce such performance and the correction of such <br /> Event of Default; <br /> (6) declare the entire unpaid principal of the Note and all accrued interest thereon <br /> immediately due and payable without notice; <br /> (7) exercise any remedies under the Security Agreement, foreclose the Mortgage and <br /> any other security instrument referred to in this Agreement and/or exercise any <br /> other rights or remedies it may have under the Security Agreement, the Mortgage <br /> and such other security instrument. <br /> 16. Default under Note and Security Agreement. The failure by Borrower to keep or <br /> perform any of'the terms, covenants and conditions to be kept or performed by it under this <br /> Agreement shall constitute a default under the Note, the Security Agreement and any other <br /> security instrument held by Lender in connection with the Loan. <br /> 17. Notices. Any notices given hereunder shall be in writing and shall be deemed to <br /> have been given when delivered personally or three (3) days after deposited in the United States <br /> mail, registered,postage prepaid,addressed as follows: <br /> If to Borrower: <br /> Sported, Inc., <br /> IOROO 175th Avenue N.W. <br /> Elk River, Minnesota 55330 <br /> Attention: Chris Carlson, President <br /> 171124v7 <br /> -12- <br />