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Waiver of any default hereunder by the Secured Party shall not be a waiver of any other <br />default or of the same default on a later occasion. No delay or failure by the Secured <br />Party to exercise any right or remedy shall be a waiver of any such right or remedy and <br />no single or partial exercise by the Secured Party of any right or remedy shall preclude <br />other or further exercise thereof or the exercise of any other right or remedy at any time. <br />10. This Agreement and the security interest in the Collateral created hereby shall terminate <br />when the Debtor has repaid the Secured Party the amount due on the Note and all other <br />indebtedness and liability from the Debtor to the Secured Party whether now existing or <br />hereafter existing. <br />11. No waiver by the Secured Party of any default shall be effective unless in writing nor <br />operate as a waiver of any other default or of the same default on a future occasion. <br />12. The Secured Party is hereby appointed the Debtor's attorney -in -fact to do all things and <br />acts necessary to perfect and to continue to perfect the security interest in the Collateral <br />and to exercise its rights with respect to the Collateral. <br />IN WITNESS WHEREOF, the parties have signed this Agreement as of the date first written <br />above. <br />SECURED PARTY: DEBTOR: <br />BANKCHEROKEE ST. JOHN'S CHURCH OF LITTLE <br />CANADA, MINNESOTA <br />By: By: <br />Its: Assistant Vice President Its Vice President <br />2110323v3 <br />50 <br />By: <br />Its: Secretary <br />