10.07 - Pequot Lakes Historical Society Lease of Cole Bldg

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21. Subordination. The Lessee agrees that at the Lessor's election this Lease shall be subordinate to any land lease, mortgages or trust deeds now on or placed on the Premises and to any and all advances to be made thereunder, and to the interests thereon, and all renewals, replacements, and extensions thereof. The Lessee hereby appoints the Lessor as its attorney-in- fact to execute such documents as may be required to accomplish such subordination. 22. Amendment, Modification, or Waiver. No amendment, modification, or waiver of any condition, provision or term of this Lease shall be valid or of any effect unless made in writing, signed by the part or parties to be bound or by its duly authorized representative, and specifying with particularity the extent and nature of such amendment, modification, or waiver. Any waiver by any party of any default or another party shall not affect or impair any right arising from any subsequent default. 23. Severable Provision. Each provision, section, sentence, clause, phrase, and word of this Lease is intended to be severable. If any provision, section, sentence, clause, phrase or work hereof is illegal or invalid for any reason whatsoever, such illegality or invalidity shall not affect the validity of the remainder of this Lease. 24. Entire Agreement. This Lease contains the entire understanding of the parties hereto with respect to the transactions contemplated hereby and supersedes all prior agreements and understandings between the parties with respect to such subject matter. No representations, warranties, undertakings, or promises, whether oral, implied, written, or otherwise, have been made by either party hereto to the other unless expressly stated in this Lease or unless mutually agreed to in writing between the parties hereto after the date hereof, and neither party has relied on any verbal representations, agreements, or understandings not expressly set forth herein. 25. Captions, Headings or Titles. All captions, headings, or titles in the sections of this Lease are inserted for convenience or reference only and shall not constitute a part of this Lease as a limitation of the scope of the particular sections to which they apply. 26. Governing Law. This Lease shall be construed and enforced in accordance with the laws of the State of Minnesota. 27. Force Majeure. If the Lessee shall be delayed, or hindered, or prevented from the performance of any act required hereunder by reason of riots, insurrection, war, or acts of God, then performance of the act shall be excused for the period of delay, and the period for performance shall be extended for a period equivalent to the period of delay. 6