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(ii)shall be effected with due diligence,in a good and workmanlike manner and with new, first- <br /> class materials and in compliance in all material respects with all requirements of applicable <br /> Laws,(iii)shall be promptly and fully paid for,or caused to be paid for,by Mortgagor at its sole <br /> cost and expense,and(iv)shall be made, in case the estimated cost of such alteration or addition <br /> exceeds the Alteration Threshold, (1) only after Mortgagee shall have consented in writing <br /> thereto prior to the commencement of such work and in all material respects in accordance with <br /> plans and specifications reasonably satisfactory to Mortgagee, (2) only after Mortgagor shall <br /> have furnished to Mortgagee a completion or performance bond,a letter of credit or cash deposit <br /> or other security reasonably satisfactory to Mortgagee as security for the completion of such <br /> work, and(3)if structural, only after submission of appropriate plans to Mortgagee and written <br /> approval thereof by Mortgagee(such approval not to be unreasonably withheld or delayed). for <br /> purposes of clause(iv)of this subsection,the Alteration Threshold limitation shall apply to any <br /> alteration or addition taken separately or, if such alteration or addition is made together with <br /> other alterations or additions that constitute a single construction plan or project (whether <br /> accomplished in successive stages or procedures),then taken in the aggregate as well. The cost <br /> of all such alterations and additions to the Mortgaged Property shall be paid in cash or its <br /> equivalent, so that the Mortgaged Property shall at all times be free of Liens for labor and <br /> materials supplied or claimed to have been supplied to the Mortgaged Property. All alterations <br /> of and additions to the Mortgaged Property shall immediately become and shall remain a part <br /> of the Mortgaged Property, and shall be subject to the lien of this Mortgage. <br /> 26. Waste. Mortgagor shall not commit or suffer any waste of the Mortgaged <br /> Property or make any change in the use of the Mortgaged Property which will in any way <br /> materially increase the risk of any fire or other hazard arising out of the operation of the <br /> Mortgaged Property,or do or permit to be done thereon anything that may in any way impair the <br /> security of this Mortgage. <br /> 27. General Right of Entry. Mortgagor agrees that it will permit Mortgagee <br /> from time to time upon reasonable advance notice(not exceeding one business day) and during <br /> regular business hours(or upon occurrence of any emergency situation,without <br /> advance notice <br /> and at any time)to enter upon and inspect the Mortgaged Property to determine its compliance <br /> with the requirements of this Mortgage and to ascertain its condition. <br /> 28. Separate Tax Lot. Mortgagor represents and warrants that the Premises <br /> are assessed for real estate tax purposes as a wholly independent tax lot, separate from any <br /> adjoining land or improvements not constituting a part of such lot. <br /> 29. Governing Law. This mortgage shall be governed by and construed in <br /> accordance with the laws of Minnesota and any applicable laws of the United States of America; <br /> Mortgagor and Mortgagee agree that Mortgagee shall not be obligated to comply with any filing <br /> or recording requirements under the lien laws (or similar laws) of Minnesota. <br /> 16 <br />