shall be construed
(a) as a novation of this Note or as a reinstatement of the indebtedness
evidenced by this Note or as a waiver of such right of acceleration or of the
right of Payee thereafter to insist upon strict compliance with the terms of
this Note, or (b) to prevent the exercise of such right of acceleration or any
other right granted under this Note, under any of the other Loan Documents or by
any applicable laws. Maker hereby expressly waives and relinquishes the benefit
of any statute or rule of law or equity now provided, or which may hereafter be
provided, which would produce a result contrary to or in conflict with the
foregoing. The failure to exercise any remedy available to Payee shall not be
deemed to be a waiver of any rights or remedies of Payee under this Note or
under any of the other Loan Documents, or at law or in equity. No extension of
the time for the payment of this Note or any installment due hereunder, made by
agreement with any person now or hereafter liable for the payment of this Note,
shall operate to release, discharge, modify, change or affect the original
liability of Maker under this Note, either in whole or in part, unless Payee
specifically, unequivocally and expressly agrees otherwise in writing. This Note
may not be changed orally, but only by an agreement in writing signed by the
party against whom enforcement of any waiver, change, or modification is sought.
3.2 WAIVERS. MAKER AND ANY SURETIES, ENDORSERS AND GUARANTORS HEREOF SEVERALLY
WAIVE AND RELINQUISH PRESENTMENT FOR PAYMENT, DEMAND, NOTICE OF NONPAYMENT OR
NONPERFORMANCE, PROTEST, NOTICE OF PROTEST, NOTICE OF INTENT TO ACCELERATE,
NOTICE OF ACCELERATION OR ANY OTHER NOTICES OR ANY OTHER ACTION, INCLUDING
FILING OF SUIT AND DILIGENCE IN COLLECTING THIS NOTE OR ENFORCING ANY OF THE
SECURITY HEREFOR, AND AGREE TO ANY SUBSTITUTION, EXCHANGE OR RELEASE OF ANY SUCH
SECURITY OR THE RELEASE OF ANY PARTY PRIMARILY OR SECONDARILY LIABLE HEREON, AND
FURTHER AGREE THAT IT WILL NOT BE NECESSARY FOR ANY HOLDER HEREOF, IN ORDER TO
ENFORCE PAYMENT OF THIS NOTE BY THEM, TO FIRST INSTITUTE SUIT OR EXHAUST ITS
REMEDIES AGAINST ANY SECURITY HEREFOR, AND CONSENT TO ANY ONE OR MORE EXTENSIONS
OR POSTPONEMENTS OF TIME OF PAYMENT OF THIS NOTE ON ANY TERMS OR ANY OTHER
INDULGENCES WITH RESPECT THERETO, WITHOUT NOTICE THEREOF TO ANY OF THEM. MAKER
AND ANY SURETIES, ENDORSERS AND GUARANTORS HEREOF SEVERALLY WAIVE AND
RELINQUISH, TO THE FULLEST EXTENT PERMITTED BY LAW, ALL RIGHTS TO
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THE BENEFITS OF ANY MORATORIUM, REINSTATEMENT, MARSHALING, FORBEARANCE,
VALUATION, STAY, EXTENSION, REDEMPTION AND APPRAISEMENT NOW OR HEREAFTER
PROVIDED BY THE CONSTITUTION AND LAWS OF THE UNITED STATES OF AMERICA AND OF
EACH STATE THEREOF, BOTH AS TO ITSELF AND IN AND TO ALL OF ITS PROPERTY, REAL
AND PERSONAL, AGAINST THE ENFORCEMENT AND COLLECTION OF THE OBLIGATIONS
EVIDENCED BY THIS NOTE OR BY THE OTHER LOAN DOCUMENTS.
3.3 Interest