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10-25-01 4. SUBORDINATE COMBO MORTG, SECURITY AGREE,FIXTURE FINANC STATE.ASSIGN OF LEASES AND RENTS
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Wayzata Boulevard West
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2040 Wayzata Boulevard West - 34-118-23-21-0036 - (Orono HRA)
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2040 Wayzata Blvd Land Use - Dunbar
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Dunbar Sr. Hsg. - Finance Doc's - Mike Gaffron File Cabinet 1
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10-25-01 4. SUBORDINATE COMBO MORTG, SECURITY AGREE,FIXTURE FINANC STATE.ASSIGN OF LEASES AND RENTS
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Last modified
8/22/2023 4:55:34 PM
Creation date
10/4/2021 10:07:47 AM
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x Address Old
House Number
2040
Street Name
Wayzata
Street Type
Boulevard
Street Direction
West
Address
2040 Wayzata Boulevard West
Document Type
Land Use
PIN
3411823210036
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26. Waste. Mortgagor shall not commit or suffer any waste of the <br /> Mortgaged Property or make any change in the use of the Mortgaged Property which <br /> will in any way materially increase the risk of any fire or other hazard arising out of <br /> the operation of the Mortgaged Property, or do or permit to be done thereon anything <br /> that may in any way impair the security of this Mortgage. <br /> 27. General Right of Entry. Mortgagor agrees that it will permit <br /> Mortgagee from time to time upon reasonable advance notice (not exceeding one <br /> business day) and during regular business hours (or upon occurrence of any <br /> emergency situation, without advance notice and at any time) to enter upon and <br /> inspect the Mortgaged Property to determine its compliance with the requirements of <br /> this Mortgage and to ascertain its condition. <br /> 28. Separate Tax Lot. Mortgagor represents and warrants that the <br /> Premises are assessed for real estate tax purposes as a wholly independent tax lot, <br /> separate from any adjoining land or improvements not constituting a part of such lot. <br /> 29. Governing Law. This mortgage shall be governed by and <br /> construed in accordance with the laws of Minnesota and any applicable laws of the <br /> United States of America; Mortgagor and Mortgagee agree that Mortgagee shall not <br /> be obligated to comply with any filing or recording requirements under the lien laws <br /> (or similar laws) of Minnesota. <br /> 30. Covenants Running With the Land; Successors and Assigns. All <br /> of the grants, covenants, terms, provisions and conditions of this Mortgage shall run <br /> with the land and shall apply to and bind the successors and assigns of Mortgagor, and <br /> apply to and inure to the benefit of the successors and assigns of Mortgagee. <br /> 31. Release of Mortgaged Property. The Borrower may release any <br /> part of the Mortgaged Property from the lien created by this mortgage only as <br /> provided in the Loan Agreement. <br /> [The balance of this page is intentionally left blank.] <br />
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