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remedies provided for in the Deed of Trust and may enforce the covenants, agreements and undertakings of
<br />Borrower contained therein and may exercise the remedies provided for thereby or otherwise available in respect
<br />thereto, all in accordance with the terms hereof.
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<br />8.WAIVERS
<br />Except as herein provided, Borrower and all others who may become liable for all or part of the principal balance
<br />hereof or for any obligations of Borrower to Lender or the holder hereof (a) jointly and severally, forever waive
<br />presentment, protest and demand, notice of protest, demand and dishonor and non-payment of this Note, and all
<br />other notices in connection with the delivery, acceptance, performance, default or enforcement of the payment of
<br />this Note, (b) agree that the time of payment of the debt or any part thereof may be extended from time to time
<br />without modifying or releasing the lien of the Deed of Trust or the liability of Borrower or any other such parties,
<br />the right of recourse against Borrower and such parties being hereby reserved by Lender; and (c) agree that time is
<br />of the essence. Borrower agrees to pay all costs of collection when incurred, whether suit be brought or not,
<br />including reasonable attorneys' fees and costs of suit and preparation therefore. If suit is brought, Borrower shall
<br />pay reasonable attorney fees incurred at trial, on appeal, or in any bankruptcy proceeding if Lender is the prevailing
<br />or successful party as the case may be. Borrower further agrees to perform and comply with each of the covenants,
<br />conditions, provisions and agreements of Borrower contained in this Note and the Deed of Trust. It is expressly
<br />agreed by Borrower that no extensions of time for the payment of this Note, nor the failure on the part of Lender to
<br />exercise any of its rights hereunder, shall operate to release, discharge, modify, change or affect the original liability
<br />under this Note or the Deed of Trust, either in whole or in part.
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<br />9.COMPLIANCE
<br />Borrower agrees that (1) this instrument and the rights and obligations of all parties hereunder shall be governed by
<br />and construed under the laws of the State of Oregon, and (2) the transaction evidenced by this Note is an exempted
<br />transaction under the Truth-In-Lending Act, 15 U.S.C. Section 1601, et. seq. If any provision of this Note shall be
<br />illegal or unenforceable, such provision shall be deemed canceled to the same extent as though it never had appeared
<br />therein, but the remaining provisions shall not be affected thereby.
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<br />10.NOTICES
<br />Whenever Lender or Borrower desires to give any notice to the other, it shall be sufficient for all purposes if such
<br />notice is personally delivered or sent by registered or certified United States mail, postage prepaid, addressed to the
<br />intended recipient at the address listed at the beginning of this Note for Borrower, or such other address as hereafter
<br />specified in writing, and for Lender at the address listed at the beginning of this Note, or such other address as
<br />hereafter specified in writing.
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<br />11.INTEREST NOT TO EXCEED MAXIMUM ALLOWED BY LAW
<br />If from any circumstances whatsoever, by reason of acceleration or otherwise, the fulfillment of any provision of
<br />this Note involves transcending the limit of validity prescribed by any applicable usury statute or any other
<br />applicable law, with regard to obligations of like character and amount, then the obligations to be fulfilled will be
<br />reduced to the limit of such validity as provided in such statute or law, so that in no event shall any exaction be
<br />possible under this Note in excess of the limit of such validity.
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<br />12.SUCCESSORS AND ASSIGNS
<br />All rights, powers, privileges and immunities herein granted to Lender shall extend to its successors and assigns and
<br />any other legal holder of this Note, with full right by Lender to assign and/or sell same.
<br />
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<br />13.WAIVER OF JURY TRIAL
<br />BORROWER, BY SIGNING BELOW, AND LENDER, BY ACCEPTING THIS NOTE, HEREBY WAIVE
<br />ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING RELATING TO
<br />THIS NOTE AND TO THE DEED OF TRUST, THE OBLIGATIONS HEREUNDER OR THEREUNDER,
<br />ANY COLLATERAL SECURING THE OBLIGATIONS, OR ANY TRANSACTION ARISING
<br />THEREFROM OR CONNECTED THERETO. BORROWER AND LENDER EACH REPRESENTS TO
<br />THE OTHER THAT THIS WAIVER IS KNOWINGLY, WILLINGLY AND VOLUNTARILY GIVEN.
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