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pursuance of, or defense of, any litigation, appellate, bankruptcy or insolvency <br />proceeding. <br />Presentment, notice of dishonor and protest are hereby waived by all makers, <br />sureties, guarantors and endorsers hereof. This note shall be binding upon Borrower, its <br />successors and assigns. <br />The remedies of Lender, as provided herein and in the Loan Agreement and the <br />Security Agreement, shall be cumulative and concurrent and may be pursued singly, <br />successively or together, at the sole discretion of Lender, and may be exercised as often <br />as occasion therefor shall occur; and the failure to exercise any such right or remedy <br />shall in no event be construed as a waiver or release thereof. <br />Time is of the essence hereof. <br />This note shall be governed by and be construed under the laws of the State of <br />Minnesota, without regard to principles of conflicts of law. <br />IN WITNESS WHEREOF, the undersigned has caused this note to be effective <br />as of the day and year first above written. <br />GP:3433405 Q <br />ALLIANCE MACHINE, INC. <br />a Minnesota corporation <br />-3- <br />I <br />,fes -a <br />