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restoration of the Mortgaged Property shall be applied as a prepayment of the Indebtedness Secured Hereby, and any excess shall be paid to the Mortgagor- and, (3) the Mortgagor shall not, by reason of' the payment of any costs of repair, rebuilding, replacement or restoration, be entitled to, any reimbursement from the Mortgagee (other than from net proceeds of surance and condeni.niatioill) or any abatement or diminution of the amounts payable Linder the Note, the Dolan Agreement or any document incident thereto or oil any other Indebtedness Secured Hereby., 1. Any prepayment of the Note as a result of insurance proiceelds will not result in a prepayment penalty. ARTICLE III RF.mF.nw�!� SECTION 3.01. REMEDIES. Upon the occurrencle of" are Event of Default or at any time thereafter the Mortgagee may, at the Mortgagee's option, exercise any and all of the following rights and remedies (and any other rights and remedies available to the Mortgagee under applicable law or any document related hereto): 'I A, J, (1 the Mortgagee may foreclose inis Mortgage by action or (to drile extent lermitted P I by Minnesota law) advertisement upon written notice thereof to the Mortgagor, and the Mortgagor hereby authorizes the Mortgagee to do so, power being herlein expressly granted to sell the Mortgaged Property at public auction without any prior hearing thereof and to convey the same to the purchaser, in fee simple, pursuant, to the statutes of Minnesota 'in such case made and provided and, out of the procleedis arising from such sale, to pay all Indebtedness 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 the Mortgagor herein agrees to pay.,, and to pay the surplus, if any, to the Mortgagor, the Mortgagor's successors or assigns; and, (2) the Mortgagee may exercise any of the remedies made available to, a secured party under the Uniform Commercial Code in effect "in the State of Minnesota, or other applicable law, with respect to any of the Mortgaged Property which consititutes personal property, including without limitation the right to tale plossiesisi" loin therelolf, proceeding without judicial process or by judicial process (without a, prior hearing or notice thereof, which the Mortgagor hereby waives), and the right to sell, lease or otherwise dispose of or use any or all of such personal property. The Mortgagee may require the Mortgagor to assemble such personal property and make it available to the Mortgagee at a place designated by the Mortgagee which is reasonably convenient to both the Mortgagor and the Mortgagee. If notice to the Mortgagor of any 'intended disposition of any of the Mortgaged Property constituting personal property or any other intended action is required by law in a particular instance, such notice shall be deemed commercially reasonable "if given in the manner, specified in Seliction 4.02 hereof) at least ten (10) calendar days prior to the date of intended disposition or other actilon. 21503870 12