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<br />Balance and accrued interest thereon immediately due and <br />payable, whereupon the same, plus any premiums or service <br />charges, shall be due and payable, but solely from sums made <br />available under the Loan Agreement, the Guaranty, the <br />Construction Loan Agreement, the Assignment of Leases and <br />Rents, the Security Agreement and the Mortgage. Failure to <br />exercise such option at any time shall not constitute a waiver <br />of the right to exercise the same at any subsequent time. <br /> <br />. <br /> <br />20. The remedies of the Lender, as provided herein <br />and in the Mortgage, the Assignment of Leases and Rents, the <br />Guaranty, the Loan Agreement, the Pledge Agreement, the <br />Security Agreement and the COnstruction Loan Agreement, are not <br />exclusive and shall be cumulative and concurrent and may be <br />pursued singly, successively or together, at the sole <br />discretion of the Lender, and may be exercised as often as <br />occasion therefor shall occur: and the failure to exercise any <br />such right or remedy shall in no event be construed as a waiver <br />or release thereof. <br /> <br />2l. The Lender shall not be deemed, by any act of <br />omission or commission, to have waived any of its rights or <br />remedies hereunder unless such waiver is in writing and signed <br />by the Lender and, then only to the extent specifically set <br />forth in the writing. A waiver with reference to one event <br />shall not be construed as continuing or as a bar to or waiver <br />of any right or remedy as to a subsequent event. <br /> <br />22. This Note has been issued without registration <br />under state or federal or other securities laws, pursuant to an <br />exemption for such issuance: and accordingly the Note may not <br />be assigned or transferred in whole or part, nor may a <br />participation interest in the Note be given pursuant to any <br />participation agreement, except in accordance with an <br />applicable exemption from such registration requirements. <br /> <br />IT IS HEREBY CERTIFIED AND RECITED that all <br />conditions, acts and things required to exist, happen and be <br />performed precedent to or in the issuance of this Note do <br />exist, have happened and have been performed in regular and due <br />form as required by law. <br /> <br />. <br /> <br />12 <br />