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132777076v2 <br /> <br /> <br /> 14 <br /> <br /> <br />ARTICLE IV <br /> <br />MISCELLANEOUS <br />Section 4.1 No Implied Waiver. Any delay by the Mortgagee in exercising or any <br />failure by the Mortgagee to exercise any right or remedy hereunder, or afforded by law, shall not <br />be a waiver of or preclude the exercise of any right or remedy hereunder, whether on such <br />occasion or any future occasion. <br />Section 4.2 Remedies Cumulative. Each remedy of the Mortgagee is distinct and <br />cumulative to each other right or remedy under this Mortgage or afforded by law and may be <br />exercised concurrently or independently. <br />Section 4.3 Successors and Assigns. The covenants and agreements herein contained <br />shall bind, and the rights hereunder shall inure to, the respective successors and assigns of the <br />Mortgagor and the Mortgagee, including among the Mortgagor’s assigns any purchasers or <br />transferees of the Mortgaged Property. <br />Section 4.4 Notices. Any notice, request, demand or other communication permitted <br />or required hereunder shall be in writing and shall be deemed duly given when hand delivered or <br />received by certified or registered United States mail, return receipt requested, postage prepaid <br />and addressed as follows: <br /> If to the Mortgagor: White Bear Montessori School, Inc. <br /> 1201 East County Road E <br />White Bear Lake, MN 55110 <br />Attention: Head of School <br /> <br /> <br /> If to the Mortgagee: Premier Bank <br />2151 3rd Street <br />White Bear Lake, MN 55110 <br />Attention: President – White Bear Lake <br /> <br /> <br />or at such other address as either party shall notify the other of as aforesaid. <br />Section 4.5 Headings. The headings of the sections contained herein are for <br />convenience only and are not to be construed to be a part of or limit or affect the terms hereof. <br />Section 4.6 Indemnity. The Mortgagor shall indemnify Mortgagee and save the <br />Mortgagee harmless from all costs and expenses, including reasonable attorneys’ fees, incurred <br />by Mortgagee in any proceedings or disputes of any kind in which the Mortgagee is made a <br />party, or appears, and which affects the indebtedness secured hereby, this Mortgage, the interest <br />created herein, or the Mortgaged Property. Proceedings and disputes shall include, but shall not <br />be limited to, exercise of the power of sale provided for in Section 3.2(2), condemnation action <br />involving the land and any action to protect the security provided for herein. Any amounts paid