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if any, shall apply only with respect to the specific instance involved and shall not impair or affect the <br />rights of the City or the provisions of this guaranty in any other respect at any other time. This guaranty <br />shall continue until written notice of revocation of this guaranty, executed by the Corporate Guarantor, <br />has been received by the City; provided, no revocation of this guaranty shall affect in any manner any <br />liability of the Corporate Guarantor under this guaranty with respect to Indebtedness arising before the <br />City receives such written notice of revocation, and the sole effect of revocation of this guaranty shall be <br />to exclude from this guaranty Indebtedness thereafter arising which is unconnected with Indebtedness <br />theretofore arising or transactions theretofore entered into. <br />Any invalidity or unenforceability of any provision or application of this guaranty shall not affect <br />other lawful provisions and applications hereof and to this end the provisions of this guaranty are declared <br />to be severable. This guaranty shall bind the Corporate Guarantor and the representatives, successors and <br />assigns of the Corporate Guarantor, and of each of them respectively, and shall benefit the City, its <br />successors and assigns. This guaranty shall be governed by and construed in accordance with the laws of <br />the State of Minnesota. <br />The Corporate Guarantor is or will be the occupant of certain property in the City (the <br />"Property"). Developer has acquired the Property and will be leasing it to the Corporate Guarantor <br />pursuant to a certain lease agreement (the "Lease"). Developer and the Corporate Guarantor are under <br />common ownership. The Corporate Guarantor acknowledges and agrees that the Indebtedness is being <br />utilized by Developer to finance the acquisition the Property to construct an industrial warehouse facility <br />for Corporate Guarantor and, therefore, the Corporate Guarantor's obligations under this Guaranty are <br />proper, valid and enforceable. This Guaranty has been approved by unanimous consent of the board of <br />governors of the Corporate Guarantor. <br />THE ENTITY GUARANTOR REPRESENTS, CERTIFIES, WARRANTS AND AGREES <br />THAT THE UNDERSIGNED HAVE READ ALL OF THIS GUARANTY AND UNDERSTAND ALL <br />OF THE PROVISIONS OF THIS GUARANTY. THE ENTITY GUARANTOR ALSO AGREES THAT <br />COMPLIANCE BY THE LENDER WITH THE EXPRESS PROVISIONS OF THIS GUARANTY <br />SHALL CONSTITUTE GOOD FAITH AND SHALL BE CONSIDERED REASONABLE FOR ALL <br />PURPOSES. <br />HERTIGATE MILLWORKS, INC., <br />a Minnesota corporation <br />By: <br />Its: <br />EL185\77\951254.v6 <br />G-3 <br />Page 343 of 372 <br />