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8. This Collateral Assignment shall be governed by, and construed in accordance with, the <br />laws of the State of Minnesota. Assignor waives personal service of any process and consents <br />that such process shall be made by certified mail, return receipt requested, directed to Assignor at <br />its address set forth in the Loan Documents, and service so made shall be deemed to be complete <br />within five (5) days after it has been mailed. <br /> <br />9. From and after the date hereof, and for so long as this Collateral Assignment shall remain <br />in full force and effect, Assignor, for itself, its successors and assigns, covenants and agrees to do <br />all acts and execute and deliver all documents reasonably necessary to assist Lender in obtaining <br />the rights, benefits and privileges granted pursuant to this Collateral Assignment. <br /> <br />10. The City of Ramsey is executing this Collateral Assignment to, and only to evidence its <br />consent to the Assignor’s collateral assignment of the Development Agreement and the TIF Note <br />to Lender pursuant to the terms and conditions of this Collateral Assignment. The City also <br />hereby confirms that, to its knowledge but without investigation, there are no defaults under the <br />Development Agreement and the TIF Agreement. The City also hereby agrees that, prior to <br />Lender’s possession of the Property, Lender (at Lender’s sole election) shall have the right (but <br />not the obligation) to cure any default by Assignor under the Development Agreement on its <br />and/or Assignor’s behalf. <br />\[THE BALANCE OF THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK\] <br />\[SIGNATURE PAGE FOLLOWS\] <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />14 <br />4823-5763-1778v21778v1/25609-0115 <br /> <br />6911974v4 <br /> <br />