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DRAFT <br /> 4.15.2004 <br /> 4110 <br /> 10. LOAN CHARGES. If the loan secured by gthis Mortgage e is or becomes subject to <br /> g J <br /> a law which sets maximum loan charges, and that law is finally interpreted so that the interest or <br /> other loan charges collected or to be collected in connection with the loan exceed the permitted <br /> limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the <br /> charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded <br /> permitted limits will be refunded to Borrower. Lender may choose to make this refund by <br /> reducing the principal owed under the Note or by making a direct payment to Borrower. If a <br /> refund reduces principal, the reduction will be treated as a partial prepayment under the Note. <br /> 11. NOTICES. Any notice to Borrower provided for in this Mortgage shall be given <br /> by delivering it personally or by mailing it by first class United States mail, postage prepaid, <br /> return receipt requested. The notice shall be directed to the Borrower at Pro Craft Development, <br /> LLC, 102 Bridgewater Drive, Vadnais Heights, MN 55127, ATTN: Jim Melcher, or any other <br /> address Borrower designates by notice to Lender. Any notice to Lender shall be given by <br /> delivering it personally or by mailing it by first class United States mail, postage prepaid, return <br /> receipt requested. The notice shall be directed to the Lender at Mounds View Economic <br /> Development Authority, 2401 Highway 10, ounds View, MN 55112, Attn: EDA Secretary, or any <br /> other address Lender designates by notice to Borrower. Any notice provided for in this <br /> Mortgage shall be deemed to have been given to Borrower or Lender when given as provided in <br /> this paragraph. <br /> III12. GOVERNING LAW; SEVERABILITY. This Mortgage shall be governed by the <br /> laws of the state of Minnesota. In the event that any provision or clause of this Mortgage or the <br /> Note conflicts with applicable law, such conflict shall not affect other provisions of this <br /> Mortgage or the Note which can be given effect without the conflicting provision. To this end, <br /> the provisions of this Mortgage and the Note are declared to be severable. <br /> 13. BORROWER'S RIGHT TO REINSTATE. If Borrower meets certain conditions, <br /> Borrower shall have the right to have enforcement of this Mortgage discontinued at any time <br /> prior to the earlier of: (a) 5 days before sale of the Property pursuant to any power of sale <br /> contained in this Mortgage; or (b) entry of a judgment enforcing this Mortgage. Those <br /> conditions are that Borrower: (a) pays Lender all sums which then would be due under this <br /> Mortgage and the Note as if no acceleration had occurred; (b) cures any default of any other <br /> covenants or agreements; (c) pays all expenses incurred in enforcing this Mortgage, including, <br /> but not limited to, reasonable attorneys fees; and (d) takes such action as Lender may reasonably <br /> require to assure that the lien of this Mortgage, Lender's rights in the Property and Borrower's <br /> obligation to pay the sums secured by this Mortgage shall continue unchanged. Upon <br /> reinstatement by Borrower, this Mortgage and the obligations secured hereby shall remain fully <br /> effective as if no acceleration had occurred. <br /> 14. HAZARDOUS SUBSTANCES. Borrower shall not cause or permit the presence, <br /> use, disposal, storage, or release of any hazardous substances on or in the Property, except those <br /> • SJR-245249v4 <br /> MU205-29 <br /> I-4 <br />