OF INTENTION TO ACCELERATE THE MATURITY, NOTICE OF ACCELERATION OF THE
MATURITY, OR ANY OTHER NOTICE WHATSOEVER (EXCEPT AS OTHERWISE PROVIDED HEREIN),
PAY (AND EACH AGREES JOINTLY AND SEVERALLY TO PAY) IN LAWFUL MONEY OF THE UNITED
STATES OF AMERICA, THE AMOUNT DUE ON THE GUARANTEED OBLIGATIONS TO LENDER AT
LENDER'S ADDRESS AS SET FORTH HEREIN.
SUCH DEMAND(S) MAY BE MADE AT ANY TIME
COINCIDENT WITH OR AFTER THE TIME FOR PAYMENT OF ALL OR PART OF THE GUARANTEED
OBLIGATIONS, AND MAY BE MADE FROM TIME TO TIME WITH RESPECT TO THE SAME OR
DIFFERENT ITEMS OF GUARANTEED OBLIGATIONS.
SUCH DEMAND SHALL BE DEEMED MADE,
GIVEN AND RECEIVED IN ACCORDANCE WITH THE NOTICE PROVISIONS HEREOF.
1.6
NO DUTY TO PURSUE OTHERS.
TO THE EXTENT PERMITTED BY APPLICABLE
LAW, IT SHALL NOT BE NECESSARY FOR LENDER (AND EACH GUARANTOR HEREBY WAIVES ANY
RIGHTS WHICH SUCH GUARANTOR MAY HAVE TO REQUIRE LENDER), IN ORDER TO ENFORCE THE
OBLIGATIONS OF ANY GUARANTOR HEREUNDER, FIRST TO (A) INSTITUTE SUIT OR EXHAUST
ITS REMEDIES AGAINST ANY BORROWER OR OTHERS LIABLE ON THE LOAN OR THE GUARANTEED
OBLIGATIONS OR ANY OTHER PERSON, (B) ENFORCE LENDER'S RIGHTS AGAINST ANY
COLLATERAL WHICH SHALL EVER HAVE BEEN GIVEN TO SECURE THE LOAN, (C) ENFORCE
LENDER'S RIGHTS AGAINST ANY OTHER GUARANTORS OF THE GUARANTEED OBLIGATIONS, (D)
JOIN ANY BORROWER OR ANY OTHERS LIABLE ON THE GUARANTEED OBLIGATIONS IN ANY
ACTION SEEKING TO ENFORCE THIS GUARANTY, (E) EXHAUST ANY REMEDIES AVAILABLE TO
LENDER AGAINST ANY COLLATERAL WHICH SHALL EVER HAVE BEEN GIVEN TO SECURE THE
LOAN, OR (F) RESORT TO ANY OTHER MEANS OF OBTAINING PAYMENT OF THE GUARANTEED
OBLIGATIONS. LENDER SHALL NOT BE REQUIRED TO MITIGATE DAMAGES OR TAKE ANY OTHER
ACTION TO REDUCE, COLLECT OR ENFORCE THE GUARANTEED OBLIGATIONS.
1.7
WAIVERS.
EACH GUARANTOR AGREES TO THE PROVISIONS OF THE LOAN
DOCUMENTS, AND, TO THE EXTENT PERMITTED BY APPLICABLE LAW, HEREBY WAIVES NOTICE
OF (A) ANY LOANS OR ADVANCES MADE BY LENDER TO ANY BORROWER, (B) ACCEPTANCE OF
THIS GUARANTY, (C) ANY AMENDMENT OR EXTENSION OF THE NOTE, THE LOAN AGREEMENT OR
OF ANY OTHER LOAN DOCUMENTS, (D) THE EXECUTION AND DELIVERY BY ANY BORROWER AND
LENDER OF ANY OTHER LOAN OR CREDIT AGREEMENT OR OF ANY BORROWER'S EXECUTION AND
DELIVERY OF ANY PROMISSORY NOTES OR OTHER DOCUMENTS ARISING UNDER THE LOAN
DOCUMENTS OR IN CONNECTION WITH ANY PROPERTY, (E) THE OCCURRENCE OF ANY BREACH
BY ANY BORROWER OR AN EVENT OF DEFAULT, (F) LENDER'S TRANSFER OR DISPOSITION OF
THE GUARANTEED OBLIGATIONS, OR ANY PART THEREOF, (G) SALE OR FORECLOSURE (OR
POSTING OR ADVERTISING FOR SALE OR FORECLOSURE) OF ANY COLLATERAL FOR THE
GUARANTEED OBLIGATIONS, (H) PROTEST, PROOF OF NON-PAYMENT OR DEFAULT BY ANY
BORROWER, AND (I) ANY OTHER ACTION AT ANY TIME TAKEN OR OMITTED BY LENDER, AND,
GENERALLY, ALL DEMANDS AND NOTICES OF EVERY KIND IN CONNECTION WITH THIS
GUARANTY, THE LOAN DOCUMENTS, ANY DOCUMENTS OR AGREEMENTS EVIDENCING, SECURING
OR RELATING TO ANY OF THE GUARANTEED OBLIGATIONS AND/OR THE OBLIGATIONS HEREBY
GUARANTEED.
1.8
PAYMENT OF EXPENSES.
IN THE