8M Consent 2008 0902 - Laserfiche WebLink

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(ii) November 30, 2013 Maturity Date. Provided that Borrower is not in default under any of the Loan Documents and Comcore is able to obtain the five-year extension of the Comcore Option, provided that Borrower provides Agency with written notification of said Option Extension no later than September 30, 2010, Borrower shall make interest only monthly installment payments in the amount of Two Thousand Seven Hundred Ninety-Six Dollars ($2,796.00) beginning November 1, 2008 through November 1, 2013. On or before November 30, 2013, all remaining accrued and outstanding and unpaid principal and interest shall be paid in full. (c) Lawful Interest. Notwithstanding any other provisions of this Note, or any instrument securing the obligations of Maker under this Note, if, for any reason whatsoever, the payment of any sums by Maker pursuant to the terms of this Note would result in the payment of interest which would exceed the amount that Holder may legally charge under the laws of the State of California, then the amount by which payment exceeds the lawful interest rate shall automatically be deducted from the principal balance owing on this Note, so that in no event shall Maker be obligated under the terms of this Note to pay any interest which would exceed the lawful rate. (d) Prepayment. Any portion of the outstanding principal balance due under this Note may be prepaid at any time, and from time to time, without penalty or premium. Interest is due and payable upon an event of default under Article 5 of the Loan Agreement. (e) Security. As security for repayment of this Note, Borrower shall execute a Deed of Trust in favor of Agency as beneficiary pursuant to which the Agency shall be provided a lien against the Property and the Improvements. The Deed of Trust shall be dated as of the Agreement Date and shall be recorded in the official records of Alameda County. The Deed of Trust may be subordinated only to such liens and encumbrances as Agency shall approve in writing, 4, Events of Default. Each of the following events will constitute an event of default ("Event of Default") under this Note: (a) Borrower's failure to pay when due the principal and interest payable under the Note, and such failure continues for ten (10) days after written notice to Borrower. (b) Borrower's failure, neglect or refusal to perform any promise, agreement, covenant or obligation contained in the Loan Agreement or this Note after any applicable cure periods. (c) Noncompliance. Borrower's failure to timely comply with any governmental requirements, including but not limited to obtaining licenses and permits, and such failure is not cured within the cure period in Section 5.2 of the Loan Agreement. (d) If any material representation or disclosure made to Agency by Borrower in connection with the Loan Agreement or this Note proves to be false or misleading in any material adverse respect when made. (e) The filing by or against Borrower of a voluntary or involuntary petition in bankruptcy or the adjudication of the Borrower as bankrupt or insolvent, or the filing of any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under present or any future federal bankruptcy act or any other present or future applicable 1113396.3 B-2 `° ~' r ~~ y.