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and Lender does not intend to charge or collect any unearned interest in the event of acceleration. All sums <br />paid or agreed to be paid to Lender for the use, forbearance or detention of sums due hereunder shall, to the <br />extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full term <br />of the loan evidenced by this Note until payment in full so that the rate or amount of interest on account of <br />the loan evidenced hereby does not exceed the applicable usury ceiling. Lender may delay or forgo <br />enforcing any of its rights or remedies under this Note without losing them. Borrower and any other person <br />who signs, guarantees or endorses this Note, to the extent allowed by law, waive presentment, demand for <br />payment, notice of dishonor, notice of intent to accelerate the maturity of this Note, and notice of <br />acceleration of the maturity of this Note. Upon any change in the terms of this Note, and unless otherwise <br />expressly stated in writing, no party who signs this Note, whether as maker, guarantor, accommodation <br />maker or endorser, shall be released from liability. All such parties agree that Lender may renew or extend <br />(repeatedly and for any length of time) this loan, or release any party or guarantor or collateral; or impair, <br />fail to realize upon or perfect Lender's security interest in the collateral without the consent of or notice to <br />anyone. All such parties also agree that Lender may modify this loan only with the consent of and notice <br />to Borrower. The obligations under this Note are joint and several. <br />THIS WRITTEN PROMISSORY NOTE, TOGETHER WITH THE SECURITY <br />INSTRUMENTS AND OTHER DOCUMENTS EXECUTED CONTEMPORANEOUSLY <br />HEREWITH, REPRESENT THE FINAL AGREEMENT BETWEEN MAKER AND PAYEE, AND <br />MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR <br />SUBSEQUENT ORAL AGREEMENT OF THE PARTIES. THERE ARE NO UNWRITTEN <br />ORAL AGREEMENTS BETWEEN THE PARTIES. <br />PRIOR TO SIGNING THIS NOTE, BORROWER HAS READ AND UNDERSTANDS ALL <br />THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE <br />PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE AND <br />ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THE NOTE. <br />PARIS ECONOMIC DEVELOPMENT <br />CORPORATION, A Texas Non -Stock, <br />Non -Profit Industrial Development <br />Corporation <br />M 314q <br />JOSH BRAY <br />Chairman, Board of Directors <br />Duly Authorized <br />City of Paris <br />A Municipal Corporation <br />BY: <br />PAULA PORTUGAL <br />Mayor <br />