6.2 EDSR 10-17-2016 - Laserfiche WebLink

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all claims, rights and remedies of contribution, indemnification, exoneration, reimbursement, recourse and subrogation, whether or not such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise, whether or not the Indebtedness has been fully paid, and all payments and recoveries under this guaranty shall be considered equity investments by the Entity Guarantorin the Borrower; provided, nothing contained in this guaranty shall deprive the Entity Guarantorof any claim, right or remedy, after the Indebtedness has been fully paid, against any person other than the Borrower. No delay or failure by the Lender in exercising any right, and no partial or single exercise thereof shall constitute a waiver thereof. No waiver of any rights hereunder, and no modification or amendment of this guaranty shall be effective unless the same is in writing duly executed by the Lender, and each such waiver, if any, shall apply only with respect to the specific instance involved and shall not impair or affect the rights of the Lender or the provisions of this guaranty in any other respect at any other time. This guaranty shall continue until written notice of revocation of this guaranty, executed by the Entity Guarantor, has been received by the Lender; provided, no revocation of this guaranty shall affect in any manner any liability of the Entity Guarantorunder this guaranty with respect to Indebtedness arising before the Lender receives such written notice of revocation, and the sole effect of revocation of this guaranty shall be to exclude from this guaranty Indebtedness thereafter arising which is unconnected with Indebtedness theretofore arising or transactions theretofore entered into. Any invalidity or unenforceability of any provision or application of this guaranty shall not affect other lawful provisions and applications hereof and to this end the provisions of this guaranty are declared to be severable. This guaranty shall bind the Entity Guarantorand the representatives, successors and assigns of the Entity Guarantor, and of each of them respectively, and shall benefit the Lender, its successors and assigns. This guaranty shall be governed by and construed in accordance with the laws of the State of Minnesota. The undersigned is the owner of the real property commonly known as __________________, Sherburne County, Minnesota (the “Property”). Upon completion of certain improvements to the Property, Borrower will be the tenant of the Property, pursuant to a written lease with the undersigned (the “Lease”). Borrower and the undersigned are under common ownership. The undersigned acknowledges and agrees that the Indebtedness is being utilized by Borrower to finance the acquisition, construction and equipping of a facilityfor use in its business operations from the Property, and such equipment will support Borrower’s ability to fulfill its obligations under the Lease and, therefore, the undersigned's obligations under this Entity Guaranty are proper, valid and enforceable. This Entity Guaranty has been approved by unanimous consent of the board of governors of the undersigned. 3 487520v1 EL185-45