86101845 - Laserfiche WebLink

Browse

86-- 101845 3.9. No Waiver; Writing. No delay on the part of the Trustees, the Agent or the Lenders in the exercise of any right or remedy shall operate as a waiver thereof, and no single or partial exercise by the Trustees, the Agent or the Lenders of any right or remedy shall preclude other or further exercise thereof or the exercise of any other right or remedy. No amendment, waiver or supplement in any way affecting this Mortgage shall in any event be effective unless set out in a writing signed by the Trustees, the Agent or the Lenders. 3.10. Governing Law. The Note, the Surco Note, the Loan Agreement, the Bank Guaranty and this Mortgage shall be construed in accordance with and governed by the laws of the State of Iowa except for provisions of real property law of the respective states of the respective sites of the Land which are mandatorily applied by such states. The Surco Guaranty shall be construed in accordance with and governed by the laws of the State of Texas. Whenever possible, each provision of this Mortgage shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Mortgage shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Mortgage. The Section headings used herein are for convenience of reference only, and shall not be deemed to be a part of this Mortgage or be considered in the interpretation, or construction thereof. 3.11. Waiver. The Mortgagor, on behalf of itself and all persons now or hereafter interested in the Premises or .�° the Collateral, to the fullest extent permitted by v; applicable law hereby waives all rights under all appraisement, homestead, moratorium, valuation, exemption, stay, extension, redemption and marshalling statutes, laws or equities now or hereafter existing, and the Mortgagor agrees that no defense, claim or right based on any thereof will be asserted, or may be enforced, in any action`'! enforcing or relating to this Mortgage or any of the a Collateral. Without limiting the generality of the preceding sentence, the Mortgagor, on its own behalf and on behalf of each and every person acquiring any interest in or title to the Premises subsequent to the date of this Mortgage, hereby irrevocably waives any and all rights of redemption from sale under any order or decree of foreclosure of this Mortgage or under any power contained herein or under any sale pursuant to any statute, order, decree or judgment of any court. -33-