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14 <br /> the whole of the debt evidenced by this Note, by agreement between the Holder and Maker, <br /> and such consent shall not alter or diminish the liability of any person or the enforceability <br /> of this Note. Each and every party signing or endorsing this Note binds itself as a principal <br /> and not as a surety. This Note shall bind the undersigned and its successors and assigns, <br /> jointly and severally. <br /> 10. Security of Note. This Note is secured by a Deed of Trust(the"Deed <br /> of Trust") of even date herewith granted by the Maker covering a certain leasehold interest <br /> in certain real property in City of Everett, Washington, together with a leasehold interest in <br /> the buildings and improvements now or hereafter erected thereon (the"Premises"). <br /> 11. Collection Costs. Maker agrees to pay all costs, including reasonable <br /> attorneys'fees, incurred by Holder hereof in any suit, action, or appeal therefrom, or without <br /> suit, in connection with collection hereof, foreclosure of the Deed of Trust, or enforcement <br /> of any instrument securing payment hereof or otherwise relating to or securing this Note. <br /> 12. Maximum Interest. Neither this Note nor any instrument securing <br /> payment hereof or otherwise relating to the debt evidenced hereby shall require the payment <br /> or permit the collection of interest in excess of the-maximum permitted by any applicable <br /> usury statute or any other law (the "Maximum Rate"). If this Note or any other such <br /> instrument does so provide,the provisions of this paragraph shall govern, and neither Maker <br /> nor any endorsers of this Note nor their respective heirs, personal representatives, <br /> successors, or assigns shall be obligated to pay the amount of interest in excess of the <br /> Maximum Rate. In such event, the interest rate in excess of the Maximum Rate shall be <br /> reduced by appropriate credits to the balance owing at maturity hereunder so that the <br /> Maximum Rate shall not be exceeded. <br /> 13. Notice. Any demand or notice to be made or given by the Holder to <br /> Maker under the terms hereof or any instrument now or hereafter relating to or securing this <br /> Note shall be effective when delivered by registered mail, return receipt requested, postage <br /> prepaid, to the Maker. <br /> 14. Governing. Law. This Note shall be governed by and construed in <br /> accordance with the laws of the State of Washington and applicable Federal law. <br /> 15. Nonrecourse. Notwithstanding any other provision hereof or of any other <br /> instrument relating to or securing this Note, the Maker, its successors and assigns and their <br /> respective partners, officers, directors and employees shall not have any personal liability <br /> 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 <br /> the instruments by which this Note is secured and the Premises constituting the security, <br /> together with the rents, issues, and profits thereof for satisfaction of the indebtedness, and <br /> resort shall not be made to any other property of the Maker; PROVIDED, HOWEVER, that • <br /> nothing herein contained shall limit or be construed to limit or impair the enforcement against <br /> said Premises of the rights and remedies of the Holder hereof, including the joinder of the <br /> Maker in any action to foreclose the liens and security interests securing this Note and <br /> PROVIDED, FURTHER, that nothing herein shall diminish Maker's liability for damages or <br /> deficiencies resulting from theft,waste, fraud, material misrepresentation or misuse of rents. <br /> B-3 <br /> 93 <br />