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fix} capital ~ontr;ib~~tia~~s ~a the Pra~ect, if and, made b~ the ~~~er•~I <br /> par~rier•s ar tnanag~t~ t~er~ber, as applicable, of Developer that ~~ere used to pay tine Deveiaper <br /> fee, <br /> ecrrz4ity~ This Nate is secured by a Deed of Trust ~tl~e "Deed of Trust"} dated as <br /> of the same date as this Nate. <br /> Narr~~eeorr~~se. This Nate shall car~stitr?te a nonrecourse obligation of Bar•ro~~er•, <br /> Neiti~er Bor•~•o~~~er, rear ar~y of its pattt~ers general ar lirited~ si~all l~a~e at~y personal liability for <br /> payment ot~ pet;fat{t~larlce of this Note, ~n tine event of default hereunder, the Ager~c~'s sole <br /> recourse shall be to prace~d aait~st the collateral descz~ibed its the Deed of Trust. <br /> 7, ai~~x•s <br /> a, ~arra~~er• expressly agrees that this Note ar• any payrrrer~t hereu~~deti nay <br /> he extended fi~ot~r tirr~e to titrre at the Agency's sole discretior~ and that the agency r~~ay accept <br /> secrrr4tty tt~ cat7sideratrorl for' any s~te~~ extension ar release any security fat this Note at its sale <br /> drseretiar~ alb ~vitlaaut its ~~Tay affecting tl~e liability ofBotro~~er. <br /> b~ No extension of time far payrnetat of this Nate rude by agreerrrerrt by the <br /> Agency ~~ith arry person na~~ ar i~e~•ea~er liable for the payrner~t of this Note shall operate to <br /> t~elease, discharge, rr~odify, change at~ affect the original liability of Bot~xa~er ut~deri this Note, <br /> either its ~~l~oie at~ iti pat•t. <br /> c, The obligations of ~or•r•o~~er4 under this Nate shall be absal~tte and <br /> Borr•o~~er• ~~ai~res a~ly and all tights to offset, deduct or• ~~ritl~hald any payrrrents or charges date <br /> ztnder this Note for any reasar~s ~~rl~atsaevet•~ <br /> ~i~ Borr•o~ver• ~~ai~es presentment, demand, notice of protest and nat~paytner~t, <br /> notice of default ar delinquency, notice of acceler•atian, Notice of casts, expenses or leases ar <br /> rnteres~ therear~, r~otice of disl~anor, diligence in callectiat~ or itr proceeding against ar~y of the <br /> tights of ir~terests rrl ar• to properties securing of this Nate, ar~d tl7e benefit of any exetnptiar~ <br /> ~t~~der any homestead exernptior~ la~~s, if apps icable. <br /> No pre~~ous ~~ai~er• ar~d rio failure ar belay by Agency ire acting ~~ritl~ <br /> respect to the terms of this Nate at the Deed of Trust shall cat~stitrrte a ~~ai~er• of any breach, <br /> default, ar failurie or condition under this Nate, the Deed of Trust or the obligations secured <br /> thereby. A~ ~~ai~et of any term of this Note, t~~e Deed of Trust ar of ar~y of tl~e obligations <br /> seelrred thereby rn~tst be made in ~~riting and shall be limited to the e~pt~ess ~~r~~tte~l terrrrs of such <br /> a <br /> ~~at~er. <br /> S~ .~tfar~~~eys' Fees ar~d hosts. Bart•a~ver agrees that rf arly aina~tnts d€te rtndeti this <br /> Nate ar•e not paid ~~her~ date, to pad' its addrtran, alI casts and expenses of collection acrd <br /> reasonable attorneys' fees paid ar incurred in connection ~~itll tl~e ca~lection a~~ enforcerrrent of <br /> this Nate, w~l7ether of teat suit is filed. <br /> ATTA~~NTN~. SB-5 <br /> <br /> D~ C ~0 Cl~ ~~~6?3~' ~ 31~0~~7~-~0~ ~ <br /> 3 <br /> <br />