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26 Section 6.07. Application of Rents. Notwithstanding anything apparently to the contrary in Section 2.01, all rents and revenues collected by Beneficiary or any receiver of the Property subsequent to the occurrence of an Event of Default will be applied: (a) First as provided in Minnesota Statutes § 576.25, Subd. 5. (b) Thereafter, prior to any non-judicial foreclosure sale of the Property, or prior to the entry of a decree of foreclosure in an action to foreclose this Mortgage, to Beneficiary for the payment of the Secured Obligations, but no such payment made after the acceleration of all or any of the Secured Obligations will affect such acceleration unless such payment is sufficient to reinstate this Mortgage under Minnesota Statutes §580.30. (c) Thereafter as follows: (i) If the purchaser at the foreclosure sale is not Beneficiary, first to Beneficiary to the extent of any deficiency remaining after application of the net sale proceeds to repay the Secured Obligations, second to the purchaser as a credit to the redemption price, but if the Property is not redeemed, then to the purchaser of the Property. (ii) If the purchaser at the foreclosure sale is Beneficiary, to Beneficiary to the extent of any deficiency remaining after application of the net sale proceeds to repay the Secured Obligations and the balance to be retained by Beneficiary as a credit to the redemption price, but if the Property is not redeemed, then to Beneficiary, whether or not such deficiency exists. The rights and powers of Beneficiary under this Mortgage and the application of rents and revenues will continue until the expiration of all applicable redemption periods from any foreclosure sale, whether or not any deficiency remains after a foreclosure. Section 6.08. Non-Agricultural Use. Grantor represents and warrants that as of the date of this Mortgage the Property is not in agricultural use as defined in Minnesota Statutes § 40A.02, Subd. 3, and is not used for agricultural purposes. Section 6.09. Future Advances. (a) To the extent that this Mortgage secures future advances, the amount of such advances is not currently known. The acceptance of this Mortgage by Beneficiary, however, constitutes an acknowledgment that Beneficiary is aware of the provisions of Minnesota Statutes Section 287.05, Subd. 5, and intends to comply with the requirements contained in this Mortgage. (b) The maximum principal amount of Secured Obligations secured by this Mortgage at any one time, excluding any amounts constituting an “indeterminate amount” under Minnesota Statutes Section 287.05, Subd. 4 and 5, will be the amount set forth in the second paragraph on page 1 of this Mortgage. (c) The representations contained in this Section are made solely for the benefit of county recording authorities in determining the mortgage registry tax payable as a prerequisite to the recording of this Mortgage. Grantor acknowledges that such representations do not constitute or imply an agreement by Beneficiary to make any future advances to Grantor.