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Loan Agreement, then the Lender shall have the right and option to <br />declare all the remaining indebtedness of unpaid principal and <br />accrued interest, evidenced by this Note, immediately due and <br />payable. Failure to exercise such option at any time shall not <br />constitute a waiver of the right to exercise the same at any <br />subsequent time. <br /> <br /> The remedies of the Lender, as provided herein and in the <br />Mortgage, the Assig~nent of Leases and Rents, the Loan Agreement, <br />the Guaranty and the Disbursing Agreement, shall be cumulative and <br />concurrent and may be pursued singly, successively or together, at <br />the sole discretion of the Lender, and may be exercised as often <br />as occasion therefor shall occur; and the failure to exercise any <br />such right or remedy shall in no event be construed as a waiver or <br />release thereof. <br /> <br /> The Lender shall not be deemed, by any act of omission or <br />commission, to have waived any of its rights or remedies hereunder <br />unless such waiver is in writing and signed by the holder and, <br />then only to the extent specifically set forth in ~%e writing. A <br />waiver with reference to one event shall not be construed as <br />continuing or as a bar to or waiver of any right or remedy as to a <br />subsequent event. <br /> <br /> The Note has been issued without registration under state <br />or other securities laws, pursuant to an exemption for such <br />issuance} and accordingly the Note may not be assigned or trans- <br />ferred in whole or part, nor may a participation interest in the <br />Note be given pursuant to any participation agreement, except in <br />accordance with applicable registration requirements or an appli- <br />cable exemption from such registration requirements. <br /> <br /> Presentment, demand, protest and notice of protest and <br />dishonor of this Note are hereby waived by the City. <br /> <br /> IT IS HEREBY CERTIFIED AND RECITED that all conditions, <br />acts and things required to exist, happen and be performed precedent <br />to or in the issuance of this Note do exist, have happened and have <br />been performed in regular and due form as required by law. <br /> <br /> IN WITNESS ~EREOF, the City has caused this Note to be <br />duly executed in its name by the manual signatures of the Mayor <br />and City Manager/Clerk and the corporate seal to be affixed <br />hereto, and has caused this Note to be dated . <br /> <br />CITY OF RA~4SEY, MINNESOTA <br /> <br />(S~L) <br /> <br /> <br />