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any. Lessee further agrees that in the event that a mortgagee shall succeed to the interest of Lessor under this Lease, such mortgagee shall not be: liable for any act or omission of any prior Lessor, including Lessor, liable for the return of any security deposit; subject to any off -sets or defenses which Lessee may have against any prior Lessor, including Lessor, bound by any rent or additional rent which Lessee may have paid for more than the current month to any prior Lessor, including Lessor, bound by any amendment or modification of this Lease made without its consent. Lessee further agrees to execute any and all further documents or instruments in addition to this Lease which may be deemed necessary requisite or desired to effectuate said subordina- tion and attornment. The agreements and obligations of Lessee set forth in this paragraph are undertaken by Lessee with the express understanding for the benefit of Lessee that in the event of foreclosure of any mortgage covering the Leased Premises, or the entire development, or acquisition thereof by deed in lieu of foreclosure, the mortgagee, its successors and assigns, will not terminate this Lease, nor join Lessee in summary or foreclosure proceedings, provided, Lessee shall continue to perform all of the covenants and conditions of this Lease and shall not be in default hereunder. 22. APPLICABLE•LAW. The laws of the State of Minnesota shall govern the validity, performance and enforcement of this Lease. 23. SECURITY DEPOSIT. Lessee has deposited with Lessor Three Thousand One Hundred Two and 19/100 ($3,102.19), receipt of which is acknowledged by Lessor, as security for the full and faithful performance of each term, provision, covenant, and condition of this Lease. In the event Lessee defaults in respect of any o% the terms, provisions, covenants, or conditions hereof, including .but not limited to payment of rent, Lessor may use, apply, or retain the whole or any part of such security for the payment of any rent in default or for any other sum which Lessor may spend or be required to spend by reason of Lessee's default. In the event that the security deposit, or any portion thereof, is applied by Lessor to pay a default by Lessee, Lessee shall within seven (7) days deposit an amount equal to the amount applied in payment of the default, as continuing security for Lessee's performance. Should Lessee faithfully and fully comply with all of the terms, provisions, covenants, and conditions of this Lease, the security or any balance thereof shall be returned to Lessee, or, at the option of Lessor, to the last assignee of Lessee's interest in this Lease at the expiration of the term hereof. 24. CAPACITY. The parties are corporations established in accordance with Minnesota law. The parties warrant that this Lease has been approved by their respective Boards of Directors and has been executed by officers duly empotered to do so. 7 Page 12