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8 <br /> accrued from the date of default, as stated above, on the unpaid principal balance as of <br /> the date of default until the date of payment resulting from application of a default rate <br /> of interest as provided herein, if any, that may be due hereunder or under any <br /> instrument relating to or securing this Note, plus any attorneys' fees incurred by the <br /> Holder by reason of such default. <br /> B. Curing of Nonmonetary Default. If a nonmonetary event of default occurs <br /> under the terms of any of the Loan Documents, prior to exercising any remedies <br /> thereunder, Holder shall give Maker written notice of such default. If the nonmonetary <br /> default is reasonably capable of being cured within thirty (30) days, Maker shall have <br /> such period to effect a cure prior to exercise of remedies by Holder under the Loan <br /> Documents, or such longer period of time as may be specified in the Loan Documents. <br /> If the default is such that it is not reasonably capable of being cured within thirty (30) <br /> days or such longer period if so specified, and if Maker in the reasonable determination <br /> of Holder (a) initiates corrective action within said period, and (b) diligently, continually, <br /> and in good faith works to effect a cure as soon as possible, then Maker shall have <br /> such additional time as Holder determines is reasonably necessary to cure the default <br /> prior to exercise of any remedies by Holder. In no event shall Holder be precluded from <br /> exercising remedies if its security becomes or is about to become materially <br /> jeopardized by any failure to cure a default or if the default is not cured within sixty (60) <br /> days after the first notice of default is given, or such longer period of time as may be <br /> specified in the Loan Documents. <br /> 7. Nonwaiver. Failure to exercise any right the Holder may have or be entitled to in the <br /> event of any default hereunder shall not constitute a waiver of such right or any other right in <br /> the event of any subsequent default. <br /> 8. Waiver of Presentment. The Maker and all guarantors and endorsers hereof hereby <br /> severally waive presentment for payment, protests, and demand, notice of protest, demand, <br /> dishonor, and nonpayment of this Note, and consent that the Holder hereof may extend the <br /> time of payment or otherwise modify the terms of payment of any part or the whole of the debt <br /> evidenced by this Note, by agreement between the Holder and Maker, and such consent shall <br /> not alter or diminish the liability of any person or the enforceability of this Note. Each and <br /> every party signing or endorsing this Note binds itself as a principal and not as a surety. This <br /> Note shall bind the undersigned and its successors and assigns, jointly and severally. <br /> 9. Security of Note. This Note is secured by a Deed of Trust (the "Deed of Trust") of <br /> even date herewith granted by the Maker covering certain real property in Snohomish County, <br /> Washington, together with the buildings and improvements now or hereafter erected thereon <br /> (the "Premises"). <br /> 10. Collection Costs. Maker agrees to pay all costs, including reasonable attorneys' <br /> fees, incurred by Holder hereof in any suit, action, or appeal therefrom, or without suit, in <br /> connection with collection hereof, foreclosure of the Deed of Trust, or enforcement of any <br /> instrument securing payment hereof or otherwise relating to or securing this Note. <br /> 80 <br /> C-3 <br />