Agenda - Council - 09/28/2021 - Laserfiche WebLink

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(c) Governing Law. This Agreement is made and shall be governed in all respects by the laws of the State of Minnesota. Any disputes, controversies, or claims arising out of this Agreement shall be heard in the state or federal courts of Minnesota, and all parties to this Agreement waive any objection to the jurisdiction of these courts, whether based on convenience or otherwise. (d) Severability. If any provision or application of this Agreement is held unlawful or unenforceable in any respect, such illegality or unenforceability shall not affect other provisions or applications that can be given effect, and this Agreement shall be construed as if the unlawful or unenforceable provision or application had never been contained herein or prescribed hereby. (e) Notice. All notices required hereunder shall be given by depositing in the U.S. mail, postage prepaid, first class mail, return receipt requested, to the following addresses (or such other addresses as either party may notify the other): To the City: City of Ramsey 7550 Sunwood Dr. N.W. Ramsey, MN 55303 Attn: Economic Development Manager To the Borrower: Stories Foundation PO BOX 431022 Brooklyn Park, MN 55443 Attn: Mark Thurston, Vice Chair, Board of Directors (0 Termination. This Agreement shall terminate at the earlier of (i) repayment of the Loan in full by the Borrower, or (ii) forgiveness of the Loan by the City. (g) Entire Agreement. This Agreement constitutes the complete and exclusive statement of all mutual understandings between the parties with respect to this Agreement, superseding all prior or contemporaneous proposals, communications, and understandings, whether oral or written, concerning the Loan. (h) Headings. The headings appearing at the beginning of the several sections contained in this Agreement have been inserted for identification and reference purposes only and shall not be used in the construction and interpretation of this Agreement. 6 12603643v1