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indulgence or any substitution, exchange, or release of collateral or the additional release of any
<br />person or entity primarily or secondarily liable, may be affected without notice to and without
<br />releasing Borrower, any endorser or any guarantor from any liability hereunder or under any related
<br />guaranty.
<br />Neither this Note, the Loan Agreement nor any other loan document shall require the
<br />payment or permit the collection of interest or any late payment charge in excess of the maximum
<br />rate permitted by law. If herein or in the Loan Agreement or any other Loan Document any excess
<br />of interest or late payment charge in such respect is provided for or shall be adjudicated to be so
<br />provided for, .neither the Borrower, nor its successors or assigns shall be obligated to pay such
<br />interest or late payment charge in excess of the maximum amount permitted bylaw, .and the right to
<br />demand the payment of any such excess shall be and hereby is waived, and this provision shall
<br />control any other provision of this note or the Loan Agreement or any other Loan Documents.
<br />This .Note, the Loan Agreement and the other loan documents are not subject to any valid
<br />right of rescission, set-off, abatement, diminution, counterclaim or defense as against Lender,
<br />including the defense of usury, and, the operation of any of the terms of the loan, or the exercise of
<br />any right thereunder, will not render the Loan. unenforceable, in whole or in part, or subj ect to any
<br />right of rescission, set-off, abatement, diminution, counterclaim or defense, including the defense of
<br />usury; and Lender has not taken any action which would give rise to the assertion of any of the
<br />foregoing and no such right of rescission, set-off, abatement, diminution, counterclaim or defense,
<br />including the defense of usury, has been asserted with respect thereto.
<br />This Note is subject to the following additional. terms and conditions:
<br />Events of Default. The occurrence or existence of any one or more of the following ,
<br />shall constitute an "event of default" hereunder.
<br />a. Monetary. Borrower's failure to pay within five (5) calendar days after .the
<br />due date thereof any principal, interest, or other payment required under the
<br />terms of this Note or the Loan Agreement; or Borrower shall fail to pay, when
<br />due (but subject to any applicable grace period) any other Indebtedness of
<br />Borrower to Lender or any third parties.
<br />b. Performance of Obli atg_ions. (i) Borrower's failure to .perform or observe any
<br />term, covenant, condition or obligation contained in the Loan Agreement or in
<br />the other Loan Documents within ten (10) Business Days after receipt of
<br />written notice from Lender or such longer cure period as may be provided in
<br />the. Loan Documents; provided, however, if such default cannot be cured
<br />within such period, Borrower shall have such longer period of time to cure
<br />such default provided, in Lender's sole reasonable discretion, Borrower is
<br />proceeding with. due diligence, but in no event shall such period of time
<br />exceed thirty (30) Business Days; or (ii) Borrower's failure to perform or
<br />observe any term, covenant, condition or obligation owed to Lender contained
<br />in any loan agreement, credit agreement or other agreement, document or
<br />instrument (other than this Note and the other Loan Documents), subject to
<br />applicable grace periods;
<br />2 _87_
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