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4 <br />fees, incurred in connection with Lender’senforcement of this Note and the exercise of any or all <br />of its rights and remedies hereunder and all such sums shall be a part of the indebtedness secured <br />by the Deed of Trust. <br />8.DEFAULT RATE. Upon the occurrence of an Event of Default, interest shall <br />automatically be increased without notice to the rate of ten percent (10%) per annum (the <br />“Default Rate"); provided however, if any payment due hereunder is not paid when due, the <br />Default Rate shall apply commencing upon the due date for such payment. When Borrower is <br />no longer in default, the Default Rate shall no longer apply, and the interest rate shall once again <br />be the rate specified in Section 1of this Note. Notwithstanding the foregoing provisions, if the <br />interest rate charged exceeds the maximum legal rate of interest, the rate shall be the maximum <br />rate permitted by law. The imposition or acceptance of the Default Rate shall in no event <br />constitute a waiver of a default under this Note or prevent Lenderfrom exercising any of its <br />other rights or remedies Reserved. <br />9.MISCELLANEOUS <br />9.1 WAIVER. The rights and remedies of Lenderunder this Note shall be cumulative <br />and not alternative. No waiver by Lenderof any right or remedy under this Note shall be <br />effective unless in a writing signed by Lender. Neither the failure nor any delay in exercising <br />any right, power or privilege under this Note will operate as a waiver of such right, power or <br />privilege, and no single or partial exercise of any such right, power or privilege by Lenderwill <br />preclude any other or further exercise of such right, power or privilege or the exercise of any <br />other right, power or privilege. To the maximum extent permitted by applicable law (a) no claim <br />or right of Lenderarising out of this Note can be discharged by Lender, in whole or in part, by a <br />waiver or renunciation of the claim or right unless in a writing, signed by Lender; (b) no waiver <br />that may be given by Lenderwill be applicable except in the specific instance for which it is <br />given; and (c) no notice to or demand on Borrowerwill be deemed to be a waiver of any <br />obligation of Borroweror of the right of Lenderto take further action without notice or demand <br />as provided in this Note. Borrowerhereby waives presentment, demand, protest, notices of <br />dishonor and of protest and all defenses and pleas on the grounds of any extension or extensions <br />of the time of payment or of any due date under this Note, in whole or in part, whether before or <br />after maturity and with or without notice. <br />9.2 NOTICES. Any notice required or permitted to be given hereunder shall be given <br />in accordance with Section 7.1of the Loan Agreement. <br />9.3 SEVERABILITY. If any provision in this Note is held invalid or unenforceable <br />by any court of competent jurisdiction, the other provisions of this Note will remain in full force <br />and effect. Any provision of this Note held invalid or unenforceable only in part or degree will <br />remain in full force and effect to the extent not held invalid or unenforceable. <br />9.4 GOVERNING LAW; VENUE. This Note shall be governed by the laws of the <br />State of California without regard to principles of conflicts of laws. All persons and entities in <br />any manner obligated under this Note consent to the jurisdiction of any federal or state court <br />havingjurisdiction in which the Property is located (the “Property Jurisdiction”). Borrower