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herewith, from the Borrower to the Lender (the "Assignment of Rents and Leases") and by a Guaranty, of even date herewith (the "Guaranty"), by the Borrower, Hoffmann Electric Company and NuComp Systems, Inc. in favor of the Lender. The proceeds of this Note shall be placed in the Proceeds Account of the Construction Fund established pursuant to the Resolution and the Construction Loan Agreement (hereinafter referred to) and disbursement of the proceeds of this Note from the Construction Fund is subject to the terms and conditions of a Construction Loan Agreement of even date herewith among the Lender, the City and the Borrower (the "Construction Loan Agreement"). 6. The Holder may extend the times of payments of interest and/or principal of or any penalty or premium due on this Note, including the date of the Final Maturity Date, to the extent permitted by law without notice to or consent of any party liable hereo~ and without releasing any such party. However, in no event may the Final Maturity Date be extended beyond thirty (30) years from the date hereof. 7. The Borrower may prepay the Principal Balance in whole or in part in increments of $100,000 on any Payment Date upon at least 30 days' advance written notice to the Holder (or such lesser period of notice as the Holder may approve) and upon payment of an amount equal to the principal amount being so prepaid, plus accrued interest hereon to the date of prepayment, plus the prepayment premium calculated in accordance with paragraph 8 hereof. This Note is also subject to mandatory prepayment in whole or in part (after the prepayment in whole of the Series A Note) pursuant to Section 2.1 of the Construction Loan Agreement in the amount of any sums remaining in the Proceeds Account of the Construction Fund at the Completion Date (as such terms are defined in the Construction Loan Agreement), in which event a prepayment premium shall also be payable in accordance with paragraph 8 hereof, at the time of such prepayment may not be extended pursuant to paragraph 6 hereof. Upon the occurrence of certain "Events of Default" under the Construction Loan Agreement and/or under the Mortgage, and as provided in paragraph 12 hereof, the Holder may declare the Principal Balance and accrued interest on this Note to be immediately due and payable (any such action and any similar action pursuant to paragraph l(c)(ii) hereof being hereinafter referred to as an "acceleration" of this Note), in which event a prepayment premium shall also be payable in accordance with paragraph 8 hereof. 22