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9 <br /> <br /> 6. Statutory Power of Sale, Waiver and Agreement. At maturity, whether at <br />the stated time or prior thereto by the acceleration of maturity pursuant hereto, Mortgagee <br />(in addition to any other remedies provided for herein or which it may have at law or <br />equity) shall have the statutory power of sale, and on foreclosure may retain statutory <br />costs and attorneys' fees. <br /> <br />MORTGAGOR HEREBY EXPRESSLY CONSENTS TO THE FORECLOSURE AND <br />SALE OF THE MORTGAGED PREMISES BY ACTION PURSUANT TO MINNESOTA <br />STATUTES CHAPTER 581 OR, AT THE OPTION OF MORTGAGEE, BY <br />ADVERTISEMENT PURSUANT TO MINNESOTA STATUTES CHAPTER 580, WHICH <br />PROVIDES FOR SALE AFTER SERVICE OF NOTICE THEREOF UPON THE <br />OCCUPANT OF THE MORTGAGED PREMISES AND PUBLICATION OF SAID NOTICE <br />FOR SIX WEEKS IN THE COUNTY IN MINNESOTA WHERE THE MORTGAGED <br />PREMISES IS SITUATED; ACKNOWLEDGES THAT SERVICE NEED NOT BE MADE <br />UPON MORTGAGOR PERSONALLY (UNLESS MORTGAGOR IS AN OCCUPANT) <br />AND THAT NO HEARING OF ANY TYPE IS REQUIRED IN CONNECTION WITH THE <br />SALE; AND EXCEPT AS MAY BE PROVIDED IN SAID STATUTES, EXPRESSLY <br />WAIVES ANY AND ALL RIGHT TO PRIOR NOTICE OF SALE OF THE MORTGAGED <br />PREMISES AND ANY AND ALL RIGHTS TO A PRIOR HEARING OF ANY TYPE IN <br />CONNECTION WITH THE SALE OF THE MORTGAGED PREMISES. MORTGAGOR <br />ALSO WAIVES AND RELINQUISHES ANY AND ALL RIGHTS WHICH MORTGAGOR <br />MAY HAVE TO HAVE THE MORTGAGED PREMISES SOLD IN SEPARATE PARCELS <br />AT ANY FORECLOSURE SALE. <br /> <br /> 7. Future Advances. <br /> <br /> (a) To the extent that this Mortgage secures future advances, the <br />amount of such advances is not currently known. By accepting this Mortgage, the <br />Mortgagee acknowledges that it is aware of the provisions of Minnesota Statutes <br />Section 287.05, subd. 5 and intends to comply with the requirements contained <br />therein. <br /> <br /> (b) The maximum principal amount of indebtedness secured by this <br />Mortgage at any one time, excluding advances made by Mortgagee in protection <br />of the mortgaged premises or the lien of this Mortgage, shall be $5,500,000.00. <br /> <br /> (c) The representations contained in this paragraph 7 are made solely <br />for the benefit of county recording authorities in determining the mortgage registry <br />tax (if any) payable as a prerequisite to the recording of this Mortgage. The <br />Mortgagor acknowledges that such representations do not constitute or imply an <br />agreement by the Mortgagee to make any future advances to the Mortgagor. <br /> <br /> 8. Miscellaneous. This Mortgage shall be governed by and construed in <br />accordance with the laws of the State of Minnesota and shall inure to the benefit of <br />Mortgagee, its successors and assigns. In the event any provision hereof is determined