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specifically provides to the contrary. If anypayment applied by the Lender to the Indebtedness is
<br />thereafter set aside, recovered, rescinded or required to be returned for any reason (including without
<br />limitation the bankruptcy, insolvency or reorganization of the Borrower or any other person), the
<br />Indebtednesstowhichsuchpaymentwasappliedshallforthepurposesofthisguarantybedeemedto
<br />have continued in existence, notwithstanding such application, and this guaranty shall be enforceable as
<br />to such Indebtednessasfullyasifsuchapplicationhadneverbeenmade.
<br />Theundersignedwaive: (1)notice ofacceptanceofthisguarantyand ofthecreationand
<br />existence of the Indebtedness; (2) presentment, demand for payment, notice of dishonor, notice of
<br />nonpayment, and protest of any instrument evidencing the Indebtedness; and (3) all other demands and
<br />notices to the undersigned or any other person and all other actions to establish the liability of the
<br />undersigned hereunder. The undersigned consent to the personal jurisdiction of the state and federal
<br />courts located in the State of Minnesota in connection with any controversy related to this guaranty,
<br />waive any argument that venue in such forums is not convenient, and agree that any litigation initiated
<br />by the undersignedagainst the Lender .in connection with this guaranty shall be venued in either the
<br />District Court of SherburneCounty,Minnesota,ortheUnitedStatesDistrictCourt,Districtof
<br />Minnesota.
<br />All property of the undersigned, now or hereafter in the possession, control or custody of or in
<br />transit to the Lender for any purpose, including without limitationthe balance of every account of the
<br />undersigned with and each claim of the undersigned against the Lender, shall be subject to a lien and
<br />security interest in favor of the Lender, as security for all liabilities of the undersigned to the Lender,
<br />and shall be subject to be set off against any and all such liabilities, and the Lender may at any time and
<br />from time to time at its option and without notice appropriate and apply any such property toward the
<br />payment of any and all such liabilities. The undersigned agree to promptly provide the Lenderfrom
<br />time to time with financial statements of the undersigned, in form and substance acceptable to the
<br />Lender, at least once every 12 months and as otherwise requested by the Lender. The undersigned agree
<br />to promptly provide the Lender from time to time with such other information respecting the condition
<br />(financial and otherwise), business and property of the undersigned as the Lender may request, in form
<br />and substance acceptable to theLender.
<br />The undersigned waive all claims, rights and remedies whichthe undersigned may now have or
<br />hereafter acquire against any person at any time now or hereafter liable to payment of any of the
<br />Indebtedness and as to any collateral security, including but not limited to all claims, rights and
<br />remedies of contribution,indemnification, exoneration, reimbursement, recourse and subrogation,
<br />whether or not such claim, right or remedy arises in equity, under contract, by statute, under common
<br />law or otherwise, whether or not the Indebtedness has been fully paid, and all payments and recoveries
<br />under this guaranty shallbeconsideredequityinvestmentsbytheundersignedintheBorrower;
<br />provided,nothingcontainedin this guaranty shall deprive the undersigned of any claim, right or
<br />remedy, after the Indebtedness has been fullypaid,againstanypersonotherthantheBorrower.No
<br />delayorfailurebytheLenderinexercising any right, and no partial or single exercise thereof shall
<br />constitute a waiver thereof. No waiver of any rights hereunder, and no modification or amendment of
<br />this guaranty shall be effective unless the same is in writing duly executed by the Lender, and each such
<br />waiver, if any, shall apply only with respect to the specific instance involved and shall not impair or
<br />affect the rights of the Lender or the provisions of this guaranty in any other respect at any other time.
<br />This guaranty shall continue until written notice of revocation of this guaranty, executed by the
<br />undersigned, has been received by the Lender; provided, no revocation of this guaranty shall affect in
<br />any manner any liability of the undersigned under this guaranty with respect to Indebtedness arising
<br />before the Lender receives such written notice of revocation, and the sole effect of revocation of this
<br />guaranty shall be-to exclude from this guaranty Indebtedness thereafter arisingwhichisunconnected
<br />withIndebtednesstheretoforearisingortransactionstheretoforeenteredinto.
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