accrued and unpaid interest and the balance
on account of the unpaid principal in the inverse order of maturity. Any partial
prepayments shall not affect the Borrower's obligation to make the regular
installments required hereunder until the Loan is fully paid.
8.PREJUDGMENT REMEDY WAIVER.
BORROWER ACKNOWLEDGES AND REPRESENTS THAT THE LOAN EVIDENCED BY THIS NOTE IS A
COMMERCIAL TRANSACTION AND THAT THE PROCEEDS OF THE LOAN SHALL NOT BE USED FOR
PERSONAL, FAMILY OR HOUSEHOLD PURPOSES. BORROWER AND ANY SUBSEQUENT ENDORSER,
INDEMNITOR OR OTHER ACCOMMODATION MAKER HEREBY VOLUNTARILY WAIVE ANY RIGHTS TO
NOTICE OR HEARING UNDER CHAPTER 903a OF THE CONNECTICUT GENERAL STATUTES AS NOW
OR HEREAFTER AMENDED, OR AS OTHERWISE REQUIRED BY ANY LAW WITH RESPECT TO ANY
PREJUDGMENT REMEDY WHICH THE HOLDER MAY ELECT TO USE OR WHICH IT MAY AVAIL
ITSELF. THE BORROWER FURTHER WAIVES ANY REQUIREMENTS THAT LENDER OBTAIN A BOND
OR ANY SIMILAR DEVICE IN CONNECTION WITH THE EXERCISE OF ANY REMEDY OR THE
ENFORCEMENT OF ANY RIGHT HEREUNDER OR PERTAINING TO THE LOAN.
4
9.WAIVER OF RIGHT TO TRIAL BY JURY.
BORROWER AND ANY SUBSEQUENT ENDORSER, INDEMNITOR (FOR PURPOSES OF THIS SECTION
9) OR OTHER ACCOMMODATION MAKER (COLLECTIVELY THE "BORROWER") WAIVES ALL RIGHT
TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING BASED UPON, OR RELATED TO, THE
SUBJECT MATTER OF THIS NOTE OR ANY CONDUCT RELATING TO THE ADMINISTRATION OR
ENFORCEMENT OF THIS NOTE OR ARISING FROM THE DEBTOR/CREDITOR RELATIONSHIP OF THE
PARTIES HERETO. THIS WAIVER IS KNOWINGLY, INTENTIONALLY AND VOLUNTARILY MADE BY
THE BORROWER, AND THE BORROWER ACKNOWLEDGES THAT LENDER HAS NOT MADE ANY
REPRESENTATIONS OF FACT TO INDUCE THIS WAIVER OF TRIAL BY JURY OR IN ANY WAY TO
MODIFY OR NULLIFY ITS EFFECT. THE BORROWER ACKNOWLEDGES THAT THIS WAIVER MAY
DEPRIVE BORROWER OF AN IMPORTANT RIGHT AND THAT SUCH WAIVER HAS KNOWINGLY AND
VOLUNTARILY BEEN AGREED TO BY THE BORROWER. THE BORROWER FURTHER ACKNOWLEDGES
THAT BORROWER HAS BEEN REPRESENTED (OR HAS HAD THE OPPORTUNITY TO BE
REPRESENTED) IN THE SIGNING OF THIS NOTE AND IN THE MAKING OF THIS WAIVER BY
INDEPENDENT LEGAL COUNSEL SELECTED BY BORROWER AND THAT BORROWER HAS HAD THE
TIME TO DISCUSS THIS WAIVER WITH HIS LEGAL COUNSEL.
10.DELAY IN ENFORCEMENT.
The liability of Borrower and any subsequent endorser, indemnitor or other
accommodation maker under this Note is unconditional and shall not be affected
by an extension of time, renewal, waiver or any other modification whatsoever,
granted or consented to by the Holder. Any failure by the Holder to exercise any
right it may have under this Note is not a waiver of the Holder's right to
exercise the same or any other right at any other time.
11.CHANGES.
No agreement by the Holder to change, waive or release the terms of this Note
will be valid unless it is in writing and signed by Borrower and the Holder.
12.WAIVER.
BORROWER AND ANY SUBSEQUENT ENDORSER, INDEMNITOR OR OTHER ACCOMMODATION MAKER
WAIVES PRESENTMENT, DEMAND FOR PAYMENT AND NOTICE OF DISHONOR.
13.CONNECTICUT LAW.
The provisions of this Note