REPAYMENT IS CREDITED PRIOR TO
THE CLOSE OF BUSINESS ON THE BUSINESS DAY RECEIVED AS PROVIDED HEREIN.
3.
RATE CHANGE DATE.
THE RATE WILL CHANGE UNLESS OTHERWISE PROVIDED
EACH TIME AND AS OF THE DATE THAT THE PRIME RATE CHANGES.
4.
PAYMENT SCHEDULE.
EXCEPT AS EXPRESSLY PROVIDED HEREIN TO THE
CONTRARY, ALL PAYMENTS ON THIS NOTE SHALL BE APPLIED IN THE FOLLOWING ORDER OF
PRIORITY: (A) THE PAYMENT OR REIMBURSEMENT OF ANY EXPENSES, COSTS OR OBLIGATIONS
(OTHER THAN THE OUTSTANDING PRINCIPAL BALANCE HEREOF AND INTEREST HEREON) FOR
WHICH EITHER DEBTOR SHALL BE OBLIGATED OR LENDER SHALL BE ENTITLED PURSUANT TO
THE PROVISIONS OF THIS NOTE OR THE OTHER LOAN DOCUMENTS, (B) THE PAYMENT OF
ACCRUED BUT UNPAID INTEREST HEREON, AND (C) THE PAYMENT OF ALL OR ANY PORTION OF
THE PRINCIPAL BALANCE HEREOF THEN OUTSTANDING HEREUNDER, IN THE DIRECT ORDER OF
MATURITY.
IF AN EVENT OF DEFAULT EXISTS UNDER ANY OF THE OTHER LOAN DOCUMENTS,
THEN LENDER MAY, AT THE SOLE OPTION OF LENDER, APPLY ANY SUCH PAYMENTS, AT ANY
TIME AND FROM TIME TO TIME, TO ANY OF THE ITEMS SPECIFIED IN CLAUSES (A), (B) OR
(C) ABOVE WITHOUT REGARD TO THE ORDER OF PRIORITY OTHERWISE SPECIFIED HEREIN AND
ANY APPLICATION TO THE OUTSTANDING PRINCIPAL BALANCE HEREOF MAY BE MADE IN
EITHER DIRECT OR INVERSE ORDER OF MATURITY.
IF ANY PAYMENT OF PRINCIPAL OR
INTEREST ON THIS NOTE SHALL BECOME DUE ON A DAY OTHER THAN A BUSINESS DAY, SUCH
PAYMENT SHALL BE MADE ON THE NEXT SUCCEEDING BUSINESS DAY AND SUCH EXTENSION OF
TIME SHALL BE INCLUDED IN COMPUTING INTEREST IN CONNECTION WITH SUCH PAYMENT.
THE OUTSTANDING PRINCIPAL BALANCE OF THIS NOTE, PLUS ACCRUED AND UNPAID INTEREST
THEREON SHALL BE DUE AND PAYABLE ON THE EARLIER OF (I) THE ACCELERATION OF THE
INDEBTEDNESS PURSUANT TO THE TERMS OF THE LOAN DOCUMENTS; (II) SEPTEMBER 16,
2010; OR (III) SUCH OTHER DATE AS MAY BE ESTABLISHED BY A WRITTEN INSTRUMENT
BETWEEN DEBTOR AND LENDER, FROM TIME TO TIME (THE "MATURITY DATE").
ACCRUED AND
UNPAID INTEREST ON THE OUTSTANDING PRINCIPAL BALANCE OF THIS NOTE SHALL BE DUE
AND PAYABLE MONTHLY COMMENCING ON OCTOBER 16, 2009 AND CONTINUING ON THE SAME
DAY OF EACH CALENDAR MONTH THEREAFTER (OR IF NO SUCH CORRESPONDING DATE, ON THE
LAST DATE OF SUCH CALENDAR MONTH) AND ON THE MATURITY DATE.
DEBTOR MAY BORROW,
REPAY AND REBORROW HEREUNDER AT ANY TIME, UP TO A MAXIMUM AGGREGATE AMOUNT
OUTSTANDING AT ANY ONE TIME EQUAL TO THE PRINCIPAL AMOUNT OF THIS NOTE, PROVIDED
THAT DEBTOR IS NOT IN DEFAULT UNDER ANY PROVISION OF THIS NOTE, ANY OTHER
DOCUMENTS EXECUTED IN CONNECTION WITH THIS NOTE, OR ANY OTHER LOAN DOCUMENTS NOW
OR HEREAFTER EXECUTED IN CONNECTION WITH ANY OTHER OBLIGATION OF DEBTOR TO
LENDER, AND PROVIDED THAT THE BORROWINGS HEREUNDER DO NOT EXCEED ANY BORROWING
BASE OR OTHER LIMITATION ON BORROWINGS BY DEBTOR.
LENDER SHALL INCUR NO
LIABILITY FOR ITS REFUSAL TO ADVANCE FUNDS BASED UPON ITS DETERMINATION THAT ANY
CONDITIONS OF SUCH FURTHER ADVANCES HAVE NOT BEEN MET.
LENDER'S