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<br /> -3- <br /> interest, when due then Payee shall have the option, to ~he extent <br /> permitted by applicable law, to declare this Note due and payable, <br /> whereupon the entire unpaid principal balance of this note and all <br /> accrued unpaid interest thereon shall at once mature and become due and <br /> payable without presentment, demand, protest or notice of any kind <br /> ( includirí: , but not limited to, notice of intention to accelerate or <br /> notice of acceleration), all of which are hereby expressly waived by <br /> ~1akers. The time of payment of this note is also subject to <br /> acceleration in the same manner provided in this paragraph in the event <br /> Makers default or otherwise fail to discharge its obligations under any <br /> of the instruments securing payment hereof or relating hereto. <br /> Makers and any and all sureties, quarantors and endorsers of this <br /> Note and all other parties now or hereafter liable hereon, jointly and <br /> severally waive grace, demand, presentment for payment, protest, notice <br /> of any kind (including, but not limited to, notice of dishonor, notice <br /> of protest, notice of intention to accelerate and notice of <br /> acceleration) and diligence in collecting and bringing suit against any <br /> party hereto and ag ree (i) to all extensions and partial payments, <br /> with or wi thout notice, before or after maturity, (ii) to any <br /> substitution, exchange or release of any security now or hereafter <br /> given for this note, (iii) to the release of any party primarily or <br /> secondarily liable hereon, and (iv) that it will not be necessary for <br /> Payee, in order to enforce payment of this Note, to first institute or <br /> exhaust Payee's remedies against Makers or any other party liable <br /> therefor or aqainst any securi ty for this Note. <br /> If this Note is not paid at maturity, however, and such maturity <br /> is brought about and is placed in the hands of an attorney for <br /> collection or if collected through any legal proceedings includirí: but <br /> not 1 imi too to probate, insolvency or bankruptcy proceedings, or if <br /> suit is brouc¡ht on the sane, Makers aqree to pay a reasonable amoun t <br /> as attorneys' fees and expenses of collection, which amount shall he <br /> not less than 33 1/3 percent of the aJTDunt then due hereon. <br /> If (i) Makers shall fail to pay this Note or any installment <br /> hereof, whether principal or interest, when due, and if Makers shall <br /> not have cured such default in the payment of principal and interest, <br /> or either, within 30 days after Makers shall have received from the <br /> Payees written notice of such Payees' intent to accelerate the maturity <br /> of this ~bte, then Payees may, at their option, without further demand, <br />