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4. No Waiver by Note Holder. Even if, at a time when Borrower is in default, the Note Holder does not require Borrower to pay immediately in full as described above, the Note Holder will still have the right to do so if Borrower is in ~fault at a later time. 5. Payment of Note Holder's Costs and Expenses. If the Note Holder has required Borrower to pay immediately full as described above, the Note Holder will have the right to be paid back by Borrower for all of its costs and expenses in enforcing this Note to the extent permitted by applicable law. Those expenses include, for example, reasonable attorney's fees. 6. Giving of Notices. A. To Borrower. Unless applicable law requires a different method, any notice that must be given to Borrower under this Note will be given by delivering it or by mailing it by first class mail to Borrower at the address listed above or at a different address if Borrower gives the Note Holder a notice of my different address. B. To Note Holder. Any notice that must be give to the Note Holder under this Note will be given by mailing it by first class mail to the Note Holder at the address stated above or at a different address if Borrower is given a notice of that different address. 7. Obligations of Persons Under This Note. If more than one person signs this Note, each person is fully and personally obligated to keep all of the promises made in this Note, including the promise to pay the full amount owed. Any person who is a guarantor, surety or endorser of this Note is also obligated to do these things. Any person who takes over these obligations, including the obligations of a guarantor, surety or endorser of this Note, is also obligated to keep all of the promises made in this Note. The Note Holder may enforce its rights under this Note against each person individually or against all of us together. This means that any one of us may be required to pay all of the amounts owed under this Note. 8. Waivers. Borrower and any other person who bas obligations under this Note waive the rights of presentment and notice of dishonor. "Presentment" means the right to require the Note Holder to demand payment of amounts due. "Notice dishonor" means the right to require the Note Holder to give notice to other persons that amounts due have not been id. 9. Miscellaneous A. Borrower may not assign any of its rights, or delegate or subcontract any of its duties under this Note, in whole or in part, without the prior written consent of the Note Holder. B. In the event any section, subsection, paragraph, sentence, phrase or word in this Note is held invalid for any reason, the balance of this Note will remain in effect and will be read as if the parties intended at ail times not to include the invalid section, subsection, paragraph, sentence, phrase or word. C. This Note shall be governed by the laws of the State of Texas. Exclusive venue for any legal dispute arising under this Note shall be in Hays County, Texas. The Note Holder's execution of and performance under this Note will not act as a waiver of any immunity of the Note Holder to suit or liability under applicable law. The parties acknowledge that the Note Holder, in executing and performing this Note, is a governmental entity acting in a governmental capacity. D. Each of the persons executing this Note represents that he or she has full power and authority to execute this Note on behalf of the Borrower. Borrower Signature Date ~rrower Signature Date C:\Documents and Settings~costley_lindahMy Documents\RLF~prom note.doc 2