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8. Borrower's Waiver. The Borrower and every guarantor of this Note, or of the obligation represented by this Note, hereby waives (a) notice of default or delinquency, (b) notice of acceleration, (c) notice of non - payment, (d) notice of costs, expenses and losses and interest thereon, (e) notice of interest on interest and late charges, (f) diligence in taking any action to collect any sums owing under the Note or in proceeding against any of the rights and interests in and to properties securing payment of the Note, (g) presentment for payment, demand, protest, and notices of dishonor and of protest, (h) the benefits of all waivable exemptions, and (i) all defenses and pleas on the grounds of any extension or extensions of the time of payment or of any due date under this Note, in whole or in part, whether before or after maturity and with or without notice. 9. Attorney's Fees. The Borrower hereby agrees to pay all costs and expenses, including reasonable attorney's fees, which may be incurred by the Holder hereof in the enforcement of this Note, the Loan Documents or any term or provision thereof. 10. Default Under Other Loan Documents and Acceleration. All covenants, conditions and agreements contained in the Loan Documents are hereby made a part of this Note, and the Borrower agrees that the unpaid balance of the then principal amount of this Note, together with all accrued interest thereon and charges owing, shall, at the option of the Holder hereof or, if so provided in any Loan Document executed by the Borrower, shall automatically, become immediately due and payable, and thereafter until paid bear interest at the rate of twelve percent (12 %) per annum or, if lesser, the maximum rate permitted by law, upon the failure of the Borrower to make any payment hereunder as and when due; upon the failure of the Borrower to perform or observe any other term or provision of this Note, or upon the occurrence of any event (whether termed default, event of default or similar term) which under the terms of the Regulatory Agreement or of the Loan Documents shall entitle the holder hereof to exercise rights or remedies thereunder. 11. Notices. Except as may be otherwise specifically provided herein, any approval, notice, direction, consent, request or other action by the Agency shall be in writing and may be communicated to the Borrower at the principal office of the Borrower set forth above, or at such other place or places as the Borrower shall designate to the Agency in writing, from time to time, for the receipt of communications from the Agency. 12. Nonrecourse Obligation. Neither the Borrower nor any partner of the Borrower shall have any direct or indirect personal liability for payment of the principal of, or interest on, this Note. The sole recourse of the Agency with respect to the principal of, or interest on, this Note shall be to the CHFA 51P 6/1/88 V01640 -3-