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47055233v2 <br /> <br /> 3 <br />imposition of a lien upon any of the Project real property. The failure of either party to give the <br />foregoing notice shall not nullify or otherwise affect the subject default by the Developer or said <br />party’s rights and remedies on account of such Developer default. <br /> <br />5. Miscellaneous Provisions. The following miscellaneous provisions are a part of <br />this Assignment: <br /> <br />a. Accuracy of Recitals. The recitals set forth at the beginning of this Assignment are <br />deemed incorporated herein, and the parties hereto represent they are true and <br />correct. <br /> <br />b. Caption Headings. Caption headings in this Assignment are for convenience <br />purposes only and are not to be used to interpret or define the provisions of this <br />Assignment. <br /> <br />c. Amendments. This Assignment may not be amended or modified except in a <br />writing executed by all parties hereto. <br /> <br />d. Counterparts. It is understood and agreed that this Assignment may be executed in <br />several counterparts, each of which shall, for all purposes, be deemed an original, <br />and all of such counterparts, taken together, shall constitute one and the same <br />Assignment, even though all of the parties hereto may not have executed the same <br />counterpart of this Assignment. <br /> <br />e. Choice of Law, Severability. This Assignment is made in the State of Minnesota <br />and shall be construed in accordance with the laws thereof. If any provision hereof <br />is in conflict with any statute or rule of law of the State of Minnesota and is <br />otherwise unenforceable, such provisions shall be deemed null and void only to the <br />extent of such conflict or unenforceability, and shall be deemed separate from and <br />shall not invalidate any other provision of this Assignment. <br /> <br />f. Time is of the Essence. Time is of the essence in the performance of this <br />Assignment. <br /> <br />g. Notices. All notices required to be given under this Assignment shall be given in <br />writing and shall be effective when actually delivered or when deposited in the <br />United States mail, first class, postage prepaid, addressed to the party to whom the <br />notice is to be given at the address shown below: <br /> <br /> City: City of Arden Hills <br /> c/o City Clerk <br /> 1245 Hwy 96 W. <br />Arden Hills, MN 55112 <br /> <br /> Lender: West Bank