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and conditions contained in the Loan Agreement which are to be kept and performed by <br />Borrower are hereby made a part of this note to the same extent and with the same force <br />and effect as if they were fully set forth herein; and Borrower covenants and agrees to <br />keep and perform them, or cause them to be kept and performed, strictly in accordance <br />with their terms. <br />If the Lender, or any other holder of this note, has not received the full amount of <br />any Original NoteMonthly Installment or New Note Monthly Installment provided for in <br />this note, by the end of seven (7) calendar days after the date it is due, Borrower shall pay <br />a late charge fee to the Lender, or any other holder of this note. The amount of the late <br />charge fee shall be eight percent (8.00%) of the overdue Original Note Monthly <br />Installment or New Note Monthly Installment. The Borrower shall pay this late charge <br />fee on demand, however, collection of the late charge fee shall not be deemed a waiver of <br />theLender’s right to declare an Event of Default and exercise its rights and remedies as <br />provided for in the Loan Agreement. <br />Each Original Note Monthly Installment, New Note Monthly Installment and <br />other payments made under this note shall be applied as follows: (i) first, to be applied <br />against and pay interest which has accrued and remains unpaid on the date the payment is <br />received; then (ii) to be applied against and pay unpaid late charges and any other <br />charges, including attorneys' fees and protective advances; and then (iii) all remaining <br />amounts, if any, shall be applied against and reduce the then outstanding principal <br />balance of this note. <br />If an Event of Default shall occur hereunder or under the Loan Agreement and <br />any cure period provided for in the Loan Agreement or the Mortgage has expired, the <br />Borrower agrees to pay a default rate of interest equal to ten percent (10.00%) per annum <br />as the applicable interest rate of this note, andthe entire principal amount outstanding, <br />accrued interest and any other charges due hereon shall at once become due and payable <br />at the option of the Lender or the holder hereof. Any failure of the Lender to exercise its <br />right to increase the interest rate by the default rate of interest set forth above or its option <br />to accelerate this note at any time shall not constitute a waiver of the right to exercise the <br />same right to increase the interest rate or accelerate at any subsequent time. <br />Notwithstanding anything contained herein to the contrary, the default rate of interest <br />hereon shall never exceed the highest rate permitted by law. <br />The Borrower may prepay the principal under this note at any time and from time <br />to time, in whole or in part, without premium or penalty. No partial prepayment shall <br />postpone the due dateof any Original Note Monthly Installment or New Note Monthly <br />Installment or reduce the amount of any such Original Note Monthly Installment or New <br />Note Monthly Installment unless the Lender agrees otherwise in writing. <br />All sums payable to the Lender under this note shall be paid in immediately <br />available funds. <br />The Borrower promises to pay all costs in connection with the enforcement of this <br />note, including but not limited to, those costs, expenses and attorneys' fees of Lender <br />533959v23GAF EL185-57 <br />-2- <br />