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(b) Default <br />If Maker does not pay the full amount of each monthly payment on the date it is due, Maker <br />will be in default. <br />(c) Notice of Default <br />If Maker is in default, the Note Holder may send Maker a written notice informing <br />Maker that if Maker does not pay the amount by a certain date, the Note Holder may require <br />Maker to pay immediately the full amount of principal which has not been paid and all the <br />interest that Maker owes on that amount. That date must be at least 30 days after the date on <br />which the notice is delivered or mailed to Maker. <br />(d) No Waiver By Note Holder <br />Even if, at a time when Maker is in default, the Note Holder does not require Maker to <br />pay immediately in full as described above, the Note Holder will still have the right to do so if <br />Maker is in default at a later time. <br />(e) Payment of Note Holder's Costs and Expenses <br />If the Note Holder has required Maker to pay immediately in full as described above, <br />the Note Holder will have the right to be paid back by Maker for all of Note Holder's costs and <br />expenses in enforcing this Note to the extent not prohibited by applicable law. Those expenses <br />include, for example, court costs and attorney's fees. <br />8. GIVING OF NOTICES <br />Any written notice required or permitted under the terms of this AGREEMENT shall be <br />given and be deemed to have been duly served if either (1) delivered in person, or (2) deposited <br />certified mail, return receipt requested, postage prepaid in the United States mail, addressed to <br />the designated representative of the respective parties which are designated as follows: <br />Note Holder: Maker/Debtor: <br />Paris Economic Development Corporation Paris Packaging, Inc. <br />1125 Bonham Street 800 W. Center Street <br />Paris, Texas 75460 Paris, Texas 75460 <br />With an Additional Conv to: <br />City of Paris <br />Finance Director <br />P.O. Box 9037 <br />Paris, Texas 75461-9037 <br />Any party hereto may, at any time by giving ten (10) days written notice to the other <br />party, designate any other address in substitution of the foregoing address to which such notice <br />shall be given. <br />3 <br />