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7 . <br /> MBKl1774t3?ZS6 <br /> substitute geaeral parmer is rcasonably approved by Holder. Holder shall approve of any <br /> substimte general partner that has been approved by Maker's tax credit limited partner or any of <br /> the lrnders with prior liens on the Property. Transfer of Project by exercise of option or ROFR <br /> doe`not accele:ate the maturiry of the loan. <br /> 7. Curine of Monetarv Defaults. A default in payment of any amount due hereunder <br /> may be cured only by payment in full of such amount plus the addidonal interest from the date of <br /> default on the unpaid principal balance as of the date of default unril the date of payment <br /> resulzing &om application of a default rate of inurest as provided herein, if any, that may be due <br /> hereunder or under any instrumeat relating to or securing this Note, plus any attomeys' fees <br /> incutred by the Holder by reason of such default. i <br /> i <br /> 8. Nonwaiver. Failure to exercise any right the Holder may have or be entitled to in ! <br /> � the event of any default hereunder shall not consritute a waiver of such right or any other right in <br /> the event of any subsequent default. <br /> 9. Waiver of Presentment. The Maker and all guazantors and endorsers hereof <br /> hereby severally waive presentment for payment, protests and demand, noace of protest, <br /> demand, dishonor and nonpayment of this Note, and consent that the Holder hereof may extend <br /> the time of payment or otherwise modify the ternu of payment of any part or the whole of the <br /> debt evidenced by this Note, by agreement betweea the Holder and Maker, and such consent <br /> shall not alter or diminish the liabiliry of any person or the enforceabiliry of this Note. Each aad <br /> every pariy signing for endorsing this Note binds iuelf as a principal and not as a surety. This <br /> Note shall bind the undersigned and its successors and assigns,jointly and severally. <br /> � <br /> 10. Secur.ri of Note. iliis Note is secured by a Deed of Trust (the "Deed of Trust'7 � � <br /> of even date herewith granted by Maker covering properry in Snohomish Counry, Washington, <br /> t:gether with the buildings and improvements now or hereafter erected thereon(the "Premises'�. <br /> 11. Collecrion Cosu. Maker agrees to pay all cosu, including reasonable attomeys' <br /> fees, incurred by Holder hereof in any suit, action or appeal t6e�:efrom, or without suit, in <br /> connection with collection hereof, foreclosure of the Deed of Trust or enforcement of any <br /> � inshvment securing payment hereof or otherwise relating to or securing this Note. <br /> 12. Maximum Interest. Neither this Note nor any instrument securing payment hereof . <br /> or otherwise relating to the debt evidenced hereby shall require the payment or permit the <br /> col(ection of interest in excess of the maximum permitted by any applicable usury statute or any <br /> other law (the "Maximum Rate'�. If this Note or any other such insavment does so provide, the <br /> provisions of this paragraph shall govem, and neither Maker nor any endorsers of this riote nor <br /> their respective heirs, personal representatives, successocs or assigns shall be obligated to pay the <br /> amount of interest in excess of the Maximum Rate. In such event, ehe interest rate in excess of <br /> the Maximum Rate shall be reduced by appropriate crediu to the balance owing ai maturiry I <br /> hereunder so that the Maximum Rate shall not be exceeded. <br /> 79 ,p,�.�,���,a:�,�,& �� I <br />