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2023 CDBG Subrecipient Agreement <br />Promissory Note <br />Exhibit “D” <br /> <br />paragraph shall govern, and neither Maker nor any endorsers of this Note nor their respective heirs, <br />personal representatives, successors, or assigns shall be obligated to pay the amount of interest in excess <br />of the Maximum Rate. In such event, the interest rate in excess of the Maximum Rate shall be reduced by <br />appropriate credits to the balance owing at maturity hereunder so that the Maximum Rate shall not be <br />exceeded. <br />12. Notice. Any demand or notice to be made or given under the terms hereof or any instrument <br />now or hereafter relating to or securing this Note by the Holder to Maker shall be effective when mailed, <br />emailed, or delivered by registered mail, postage prepaid, to the Maker to the addresses set forth in the <br />Loan Agreement. <br />13. Governing Law. This Note shall be governed by and construed in accordance with the laws of <br />the State of Washington and applicable federal law. <br />14. Nonrecourse. Notwithstanding any other provision hereof or of any other instrument relating <br />to or securing this Note, the Maker, their managers, members, officers and employees shall not have any <br />personal liability for the indebtedness evidenced hereby or any deficiency judgment, and upon the <br />occurrence of a default or event of default hereunder, the Holder hereof shall look solely to the <br />instruments by which this Note is secured and the Premises constituting the security, together with the <br />rents, issues, and profits thereof for satisfaction of the indebtedness, and resort shall not be made to any <br />other property of the Maker; PROVIDED, HOWEVER, that nothing herein contained shall limit or be <br />construed to limit or impair the enforcement against said Premises of the rights and remedies of the <br />Holder hereof, including the joinder of the Maker in any action to foreclose the liens and security interests <br />securing this Note, and PROVIDED, FURTHER, that nothing herein shall diminish Maker's liability for <br />damages or deficiencies resulting from theft, waste, fraud, material misrepresentation or misuse of rents. <br />15. Loan Agreement. This Note is subject to the terms and conditions of the Subrecipient <br />Agreement between the Maker and Holder dated as of the Click or tap here to enter text. day of <br />Click or tap here to enter text.,Click or tap here to enter text. (the “Loan Agreement”). <br />Disbursement of the funds evidenced by this Note is to be made subject to the terms and conditions of <br />said Loan Agreement. <br /> <br />ORAL AGREEMENTS OR ORAL COMMITMENTS TO LOAN MONEY, TO EXTEND CREDIT OR TO FORBEAR <br />FROM ENFORCING REPAYMENT OF A DEBT ARE NOT ENFORCEABLE UNDER WASHINGTON LAW. <br /> <br />MAKER: Click or tap here to enter text, a Washington <br />nonprofit corporation <br /> <br /> <br />By: <br />Click or tap here to enter text., Click or tap here to <br />enter text. <br /> <br />