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Lender (the "Pledge and Security Agreement"). The disbursement ofthe proceeds of this Note is subject to the terms and conditions of the Loan Agreement. 10. The City, for itself, its successors and assigns, hierieby waives dernanu, presentment, protest and notice of dishonor; and to the extent permitted by law, the Lender may extend interest and/or principal of or any service charge or preniiun.i due on this Nolte, 'Including the Maturity Date, or release any part or parts of the property and interest subject to the Mortgage or to any other security document from the same all without, notice to or consent of any party liable hereon or thereon and without releasing any such party from such liability and whether or not as a result thereof the interest on the Note is no longer exempt from the federal or state income tax. In no event however, may the Miaturity Date lof'the Note be extended beyond Iwo thirty (30) years 1'rom the date hereof. This Note may be prepaid in whole or in plart at the option of the Borrower,, at any time, in whole or in part, with penalty. Notice of any such prepayment shall be given to the Lender by first-class mail, addressed to the Lender at its registered address, not less than thirty 1(30) days prior to the date fixed for prepayment. In the event of prepayment of this Note, the Lender shall apply any such prepayment against the accrued interest on the Principal Balance and finally against the final principal amounts due under the Note. At the date fixed for prepayment, funds shall be paid to the Lender at its registered address. 11. Upon the occurrence of certain Events of Default, as defined. in the, Loan Agreement and Mortgage, the Lender may declare the Principal Balance and accrued 'interest on the Note to be immediately due and payable. 12. As provided in the Resolution and subject to certain limitations, set forth therein, this Note 'is only transferable upon the books of the City at the office of the City Finance Director, by the Lender in person or by its agent duly authorized in writing, at the Lender's expense, upon surrender hereof together with a written 'instrument of transfer satisfactory to the City Finance Director, duly executed by the Lender or its duly authorized agent. Upon such transfer the City Finance Director will note the date of registration and the name, and address of the new registered owner in the registration blank appearing below, The C i ty may deem and treat the person in whose name the Note s last registered upon the books of the City with such registration noted on the Note, as the absolute owner here f, whether or not overdue, -for the purpose of receiving payment, or on the account, of the Principal Balance, redemption price or interest and for all. other purposes, and all such payments so made to the Lender or upon the Lender's order shall be valid and effective to satisfy and discharge the liability upon the Note to the extent of the sum or sums so paid, and the City shall not be affected by any notice to the contrary. 13. All of the agreements, conditions, covienantis, provisi'lons and stipulations contained in the Resolution, the Mortgage, the Security Agreement, the Loan Agrelernient, the Pledge and Security Agreement and the Pledge Agreement are hereby made a pall of this Note to the same extent and with the same force and effect as ifthey were fully set forth herein. 2144812v] 3