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9. OBLIGATIONS OF PERSONS UNDER THIS NOTE <br />If more than one person signs this Note, each person is fully and personally obligated to <br />keep all of the promises made in this Note, including the promise to pay the full amount owed. <br />Any person who is a guarantor, surety or endorser of this Note is also obligated to do these <br />things. Any person who takes over these obligations, including the obligations of a guarantor, <br />surety or endorser of this Note, is also obligated to keep all of the promises in this Note. The <br />Note Holder may enforce its rights under this Note against each person individually or against <br />all of us together. This means that any one of us may be required to pay all of the amounts <br />owed under this Note. <br />10. WAIVERS <br />Maker and any other person who has obligations under this Note waives notice of <br />intention to accelerate; except as provided in Section 6(c) above, and the rights or presentment <br />and notice of dishonor. "Presentment" means the right to require the Note Holder to demand <br />payment of amounts due. "Notice of dishonor" means the right to require the Note Holder to <br />give notice to other persons that amounts due have not been paid. <br />11. SECURED NOTE <br />In addition to the protections given to the Note Holder under this Note, a Security <br />Agreement (the "Security Agreement), dated the same date as this Note, protects the Note <br />Holder from possible losses which might result if Maker does not keep the promises which <br />Maker has made in this Note. That Security Agreement describes how and under what <br />conditions Maker will be required to make immediate payment in full of all amounts Maker <br />owes under this Note. <br />12. MAKER <br />Maker, reserves the option of prepaying the principal of this Note, in whole or part, at <br />any time after the date hereof without penalty. Accrued and unpaid interest with respect to such <br />principal amount prepaid is due and payable on the date of such prepayment. All amounts of <br />principal so prepaid and received by the owner and holder of this Note shall be applied to the <br />last maturing installments of this Note in their inverse order of maturity. <br />WITNESS THE HAND(S) AND SEAL(S) OF THE UNDERSIGNED. <br />PARIS PACKAGING INC. <br />By: <br />Name: <br />Title: <br />4 <br />