PRESENTMENT OR DEMAND FOR PAYMENT, PROTEST OR NOTICE
OF NONPAYMENT OR DISHONOR, OR OTHER NOTICES OR DEMANDS OF ANY KIND OR CHARACTER,
ALL AT LENDER'S OPTION, EXERCISABLE IN ITS SOLE DISCRETION.
6.3.
CURE PERIODS.
ALL NOTICE AND CURE PERIODS
PROVIDED IN THIS AGREEMENT OR IN ANY LOAN DOCUMENT SHALL RUN CONCURRENTLY WITH
ANY NOTICE OR CURE PERIODS PROVIDED BY LAW.
SECTION 7
MISCELLANEOUS PROVISIONS
7.1.
NO WAIVER; CONSENTS.
NO ALLEGED WAIVER BY
LENDER IS EFFECTIVE UNLESS IN WRITING, AND NO WAIVER MAY BE CONSTRUED AS A
CONTINUING WAIVER.
NO WAIVER IS IMPLIED FROM ANY DELAY OR FAILURE BY LENDER TO
TAKE ACTION ON ACCOUNT OF ANY DEFAULT OF BORROWER.
CONSENT BY LENDER TO ANY ACT
OR OMISSION BY BORROWER MAY NOT BE CONSTRUED AS A CONSENT TO ANY OTHER OR
SUBSEQUENT ACT OR OMISSION.
7.2.
NO THIRD PARTIES BENEFITED.
THIS AGREEMENT IS
MADE AND ENTERED INTO FOR THE SOLE PROTECTION AND BENEFIT OF LENDER AND BORROWER
AND THEIR SUCCESSORS AND ASSIGNS.
NO TRUST FUND IS CREATED BY THIS AGREEMENT
AND NO OTHER PERSONS OR ENTITIES HAVE ANY RIGHT OF ACTION UNDER THIS AGREEMENT
OR ANY RIGHT TO THE LOAN FUNDS.
7.3.
NOTICES.
ANY AND ALL NOTICES AND DEMANDS BY
EITHER PARTY HERETO TO THE OTHER PARTY, REQUIRED OR DESIRED TO BE GIVEN
HEREUNDER SHALL BE IN WRITING AND SHALL BE VALIDLY GIVEN ONLY IF (I) PERSONALLY
DELIVERED, (II) DEPOSITED IN THE UNITED STATES MAIL, CERTIFIED OR REGISTERED,
POSTAGE PREPAID, RETURN RECEIPT REQUESTED, OR (III) IF MADE BY FEDERAL EXPRESS
OR OTHER DELIVERY SERVICE WHICH KEEPS RECORDS OF DELIVERIES AND ATTEMPTED
DELIVERIES.
SERVICE SHALL BE CONCLUSIVELY DEEMED MADE ON THE FIRST BUSINESS DAY
DELIVERY IS ATTEMPTED OR UPON RECEIPT, WHICHEVER IS SOONER, AND SENT TO THE
ADDRESS SET FORTH BELOW THE RECEIVING PARTY'S SIGNATURE SET FORTH BELOW
THOSE
ADDRESSES MAY BE CHANGED BY EITHER PARTY BY NOTICE TO THE OTHER PARTY, WHICH
NOTICE OF CHANGE SHALL BE EFFECTIVE UPON ACTUAL RECEIPT BY THE OTHER PARTY.
7.4.
ATTORNEYS' FEES.
IF ANY LAWSUIT OR
ARBITRATION IS COMMENCED WHICH ARISES OUT OF, OR WHICH RELATES TO THIS
AGREEMENT, THE LOAN DOCUMENTS OR THE LOAN, INCLUDING ANY ALLEGED TORT ACTION,
REGARDLESS OF WHICH PARTY COMMENCES THE ACTION, THE PREVAILING PARTY IS ENTITLED
TO RECOVER FROM EACH OTHER PARTY SUCH SUMS AS THE COURT, REFEREE OR ARBITRATOR
MAY ADJUDGE TO BE REASONABLE ATTORNEYS' FEES IN THE ACTION OR PROCEEDING, IN
ADDITION TO COSTS AND EXPENSES OTHERWISE ALLOWED BY LAW.
ANY SUCH ATTORNEYS'
FEES INCURRED BY EITHER PARTY IN ENFORCING A JUDGMENT IN ITS FAVOR UNDER THIS
AGREEMENT ARE RECOVERABLE SEPARATELY FROM AND IN ADDITION TO ANY OTHER AMOUNT
INCLUDED IN SUCH JUDGMENT, AND SUCH ATTORNEYS' FEES OBLIGATIONS ARE INTENDED TO
BE SEVERABLE FROM THE OTHER PROVISIONS OF THIS AGREEMENT AND TO SURVIVE AND NOT
BE MERGED INTO ANY SUCH JUDGMENT.
IN ALL OTHER SITUATIONS, INCLUDING ANY
BANKRUPTCY OR OTHER VOLUNTARY OR INVOLUNTARY PROCEEDING, IN OR OUT OF COURT, FOR
THE ADJUSTMENT OF DEBTOR-CREDITOR RELATIONSHIPS, BORROWER AGREES TO PAY ALL OF
LENDER'S REASONABLE OUT-OF-POCKET COSTS AND EXPENSES,