06-20-2022 Council Packet - Laserfiche WebLink

Home Browse Search

73850847v2 [Exhibit D to TIF Loan Agreement] otherwise, but any recovery upon such rights and claims shall be had from the Lender separately, it being the intent of this Guaranty that the Guarantor shall be unconditionally and absolutely obligated to perform full and promptly the Guarantor's obligations and agreements hereunder. 6. The Guarantor hereby expressly waives notice from Lender of its acceptance and reliance on this Guaranty. 7. The Guarantor agrees to pay all reasonable costs, expenses and fees, including all reasonable attorney's fees, which may be incurred by the Lender in enforcing or attempting to enforce this Guaranty following any default on the part of the Guarantor hereunder, whether the same shall be enforced by suit or otherwise. 8. No remedy herein conferred upon or reserved to the Lend er is intended to be exclusive of any other available remedy or remedies, but each and every such remedy shall be cumulative and shall be in addition to every other remedy given under this Guaranty or now or hereafter existing at law or in equity. No delay or omission to exercise any right or power accruing upon any default, omission or failure of performance hereunder shall impair any such right or power or shall be construed to be a waiver thereof, but any such right and power may be exercised from time to time and as often as may be deemed expedient. In order to entitle the Lender to exercise any remedy reserved to it in this Guaranty, it shall not be necessary to give any notice, provided that appropriate demand for payment or performance hereunder has been made by the Lender. Notwithstanding anything to the contrary, before demanding payment under this Guaranty, the Lender shall notify the Guarantor in writing of any default in its obligations and shall provide the Guarantor thirty (30) days to cure the default before invoking the provisions of this Guaranty. 9. No waiver, amendment, release or modification of this Guaranty shall be established by conduct, custom or course of dealing, but solely by an instrument in writing duly executed by the Lender. In the event that any provision in this Guaranty should be breached by the Guarantor and thereafter duly waived by the Lender, such waiver shall be limited to the particular breach so waived and shall not be deemed to waive any other breach hereunder. 10. All demands, notices and commitments hereunder shall be in writing and shall be personally delivered or deposited in the United States mail, postage prepaid, addressed as follows: If to the Guarantor: Nicholas Walton c/o Reuter Walton 4450 Excelsior Boulevard Suite 400 St. Louis Park, MN 55416 If to Borrower: Twin Lake Limited Partnership c/o Reuter Walton 4450 Excelsior Boulevard Suite 400 St. Louis Park, MN 55416 Attention: Anne Stephenson E-mail: anne@reuterwalton.com