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8 MBKI177GY7T1S6 <br /> 13. Nodce. Any demand or notice to be made or given under the tenns hereof or any <br /> instrument now or hereafter re(ating to or securing this Note by the Holder to Maket sf+^:: be <br /> effective when mailed or delivered by registered mail, postage pnpaid, to the Makr;r at the <br /> address specified in paragraph 1 hercof, or such other address as the Maker shall nodfy the <br /> Holder in writing. <br /> If a monetary event of default occurs under the terms of anp of the Loan .riocumenu, <br /> beforo exercising any remedies thereunder Holda, shall give Maker and eac6 of the generat and <br /> limited parmers of the Partnership, as identified in the Partnership Agreement, simultaneous <br /> written notice of such default Maker shall have a period of un (10) days afttr such nodce is <br /> given within which to cure the default before exercise of remedies by Holda under the Loan <br /> Documents, or such longer, period of time as may be specified in the ioan Documents. <br /> If a nonmonetary evmt of default occuts under the terma of any of the Loan Documenu, I <br /> prior to exercising any remedies thereunder Holder shall give Maker and each �•f the general and <br /> limited partners of the Pamership, as idenefied in the Partncrship Agreement, simultaneous <br /> writtan notice of su;.h default. If thc default is rcasonably capable of beir.g cured within thirry <br /> (30) days, Maker shall have such period to effect a cure prior to exercise of remedies by Holder <br /> under the Loan Documents, or such !onger period of time as may be specified in the Loan <br /> Documenu. If the default is such that it is not reasonably capable of being cured within thirry <br /> (30) days or such longer period if so specified, and if Maker(a) =::dh.ates coaective acrion within , <br /> said period, and (b) diligently, condnually, and ia good faith wocks to effect a cure as soon as <br /> possible, then Maker shall have such additional time as is reasonably necessary to cure the <br /> default pricr to exercise of any remedies by Holder. If Maker fails to take corrective acrion or to <br /> cure the default within a reasonable time, Holder shall give Maker and each of the general and <br /> limited parmers of the Partnership written noricr. thereof, whereupon,the limited partner may <br /> remove and replace the general partner with a subsritute general partner who shall effect a cure <br /> within a reasonable time thereafter in accordance with the foregoing provisions. In no event <br /> shall Holder be precluded from exercising remedies if its sec�.uity becomes or is about to become <br /> materiatly jeopazdized by any failure to cure a default or the default is not cured within ninery <br /> (90) days after the first nodce of default is given, or such longer period of time as may be <br /> specified, in the Loan Documents. <br /> 14. Govemine_Law. This Note shall be govemed by and construed in accordance <br /> with the laws of the state of Washington. Venue in any action arising hereunder sha!', be in <br /> Snohomish County Superior Coctt. <br /> 15. Nonrecourse. Notwithstanding any otner provision hereof, or of any othcr <br /> instrument relating to or securing diis Note, neither che Maker nor any of its partners shall have <br /> any personal liabiliry for the indebtedness evidenced hereby or any deficiency judgment, and ' <br /> upon the occuaence of a default or event of default hereunder thereunder, the Hol2er hereof shall <br /> look solely to the instruments by which this Note is secured and the Premises consrituting the <br /> securiry and the rents, issues and profits thereof for satisfaction of the indebtedness, and resorts <br /> shall not be made to any other properry of the Maker; provided, however, nothing herein <br /> 99 <br /> 3 <br /> 7ezs:ciro.sifl <br />