2014-05-14 CC Packet - Laserfiche WebLink

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covenants set forth in this Mortgage, (iii) under the terms of the Note, (iv) under the terms of this Agreement, or(v) under any addendum attached to this Mortgage or this Agreement, the City may declare the unpaid balance of the Note or Indebtedness and the interest accrued thereon, together with all sums and advanced hereunder, immediately due and payable without notice, and Owner authorizes and empowers the City to foreclose this Mortgage by judicial proceedings or to sell the Subject Property at public auction and convey the same in fee simple in accordance with Minn. Stat. Chapter 580, and out of the monies arising from such sale, to retain all sums secured hereby, with interest and all legal costs and charges of such foreclosure and the maximum attorneys' fees permitted by law, which costs, charges, and fees Owner agrees to pay. 8. The covenants, waivers and agreements contained herein shall bind the successors and assigns of the Owner and shall run with the Subject Property and bind all successors in interest thereof. It is the intent of the parties hereto that this document be in a form that is recordable among the land records of Anoka County, Minnesota; and they agree to make any changes herein which may be necessary to effect the recording and filing of this document against the title of the Subject Property. 9. This Agreement shall terminate upon the final payment of all special assessments levied against the Subject Property regarding the Improvement Project, and the City shall thereupon execute and deliver such documents, in recordable form, as are necessary to extinguish its rights hereunder. 10. No remedy herein conferred upon or reserved to the City is intended to be exclusive of any other available remedy or remedies, but each and every such remedy shall be cumulative and shall be in addition to every other remedy given under this Agreement or now or hereafter existing at law or in equity or by statute. 11. No delay or omission to exercise any right or power accruing upon any default shall impair any such right or power or shall be construed to be a waiver thereof, but any such right and power may be exercised from time to time and as often as may be deemed expedient by the City. 12. In the event any provision of this Agreement shall be held invalid, illegal, or unenforceable by any court of competent jurisdiction, such holding shall not invalidate or render unenforceable any other provision hereof, and the remaining provisions shall not in any way be affected or impaired thereby. IN WITNESS WHEREOF, the parties have set their hands the day and year first written above. 4 82