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<br />Agreement, the Pledge Agreement and the Construction Loan <br />Agreement are hereby made a part of this Note to the same <br />extent and with the same force and effect as if they were fully <br />set forth herein. <br /> <br />12. This Note and interest thereon and any service <br />charge or premium due hereunder are payable solely from the <br />revenues and proceeds derived from the Loan Agreement, the <br />Mortgage, the Guaranty and the Assignment of Rents and Leases, <br />and do not constitute a debt of the City within the meaning of <br />any constitutional or statutory limitation, are not payable <br />from or a charge upon any funds other than the revenues and <br />proceeds pledged to the payment thereof, and do not give rise <br />to a pecuniary liability of the City or, to the extent <br />permitted by law, of any of its officers, agents or employees, <br />and no holder of this Note shall ever have the right to compel <br />any exercise of the taxing power of the City to pay this Note <br />or the interest thereon, or to enforce payment thereof against <br />any property of the City, and this Note does not constitute a <br />charge, lien or encumbrance, legal or equitable, upon any <br />property of the City, and the agreement of the City to perform <br />or cause the performance of the covenants and other provisions <br />herein referred to shall be subject at all times to the <br />availability of revenues or other funds furnished for such <br />purpose in accordance with the Loan Agreement, sufficient to <br />pay all costs of such performance or the enforcement thereof. <br /> <br />13. It is agreed that time is of the essence of this <br />Note. A late payment charge of four percent (4.00%) of the <br />amounts of the payment shall be made if any payment is more <br />than ten (10) days delinquent. If an Event of Default (as that <br />term is defined in the Mortgage, the Assignment of Rents and <br />Leases, the Construction Loan Agreement or the Loan Agreement) <br />shall occur, then the Lender shall have the right and option to <br />declare the Principal Balance and accrued interest thereon, <br />immediately due and payable, whereupon the same, plus any <br />premiums or service charges, shall be due and payable, but <br />solely from sums made available under the Loan Agreement, the <br />Guaranty, the Construction Loan Agreement, the Assignment of <br />Rents and Leases and the Mortgage. Failure to exercise such <br />option at any time shall not constitute a waiver of the right <br />to exercise the same at any subsequent time. <br /> <br />14. The remedies of the Lender, as provided herein <br />and in the Mortgage, the Assignment of Rents and Leases, the <br />Loan Agreement, the Guaranty, the Pledge Agreement and the <br />Construction Loan Agreement, are not exclusive and shall be <br /> <br />12 <br />