12-06-1995 Council Agenda - Laserfiche WebLink

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9.2 All representations, warranties, obligations, affirmative covenants and negative covenants contained herein or made in writing by or on behalf of Developer in connection with the transactions contemplated hereby shall survive the execution and delivery of this Agreement and the advances hereunder. The affirmative covenant set forth in Section 6.10 shall survive Developer's repayment of the Loan, the EDA's foreclosure of the Mortgage or the EDA's acceptance of a deed in lieu of foreclosure. All statements contained in any certificate or other instrument delivered by or on behalf of Developer pursuant thereto or in connection with the transactions contemplated hereby shall constitute representations and warranties by Developer. 9.3 This Agreement shall be binding upon and inure to the benefit of the successors and assigns of the parties hereto except that Developer's rights hereunder are not assignable. 9.4 No amendment, change, waiver or modification of this Agreement shall be valid unless the same be in writing and signed by all of the parties hereto, and no waiver by the EDA of any breach or default by Developer of any of its obligations, agreements or covenants under this Agreement shall be deemed to be a waiver of any subsequent breach of the same, or any other obligation, agreement or covenant, nor shall any forbearance by the EDA to seek or enforce a remedy for such breach be deemed a waiver of its rights and remedies with respect to such breach. 304291.2 Any waiver, amendment, change or modification of any covenants, require- ments, duties or conditions of this Agreement to be performed by any person or entity other than the EDA, included herein for the benefit of the EDA, shall be binding on Title and shall not relieve Title from any of its obligations to provide insurance and make disbursements as set forth herein. 9.5 This Agreement may be executed simultaneously in two or more counterparts, each of which shall be an original, but all of which shall constitute one agreement. 9.6 This Agreement shall be governed by, interpreted, and construed in accordance with the laws of the State of Minnesota. DEVELOPER AND THE EDA HEREBY WAIVE ANY RIGHT TO TRIAL BY JURY IN ANY ACTION RELATING TO THE CONSTRUCTION LOAN, THIS AGREEMENT AND /OR THE OTHER LOAN DOCUMENTS. 9.7 This Agreement shall remain effective so long as there are any sums remaining outstanding on the Note, the Mortgage or hereunder. 9.8 This Agreement from and after the date hereof supersedes and has merged into it all prior oral and written agreements on the same subjects by or Page 22