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Maker covenants and agrees that time is of the essence for payments due under this Note. <br /> All agreements between Maker and Payee, whether now existing or subsequently <br /> arising and- whether written or oral, are expressly limited so that, in no contingency <br /> whatsoever, whether by reason of acceleration of the maturity of this Note or.otherwise, shall <br /> the amount paid or agreed to be paid to Payee pursuant to the terms of this Note or otherwise or for <br /> the payment or performance of any covenant or obligation contained in this Note or in any other <br /> document evidencing, securing or pertaining to the indebtedness evidenced by this Note <br /> exceedthe maximum amount permissible under applicable law. If, from any circumstance <br /> whatsoever, fulfillment of any provision of this Note or other document, at the time <br /> performance of such provision shall be due, shall involve exceeding the maximum amount <br /> permissible by law, then, ipso facto, the obligation to be fulfilled shall be reduced to the limit <br /> validly allowed by law. If Payee shall ever receive, as interest or otherwise, an amount <br /> which would exceed the highest lawful rate of interest, such amount which would be <br /> excessive interest shall be applied to the reduction of the principal amount owing under this <br /> Note or on account of any other principal indebtedness of Maker to Payee and not to the payment <br /> of interest or, if such excessive interest exceeds the unpaid balance of principal of this Note <br /> and such other indebtedness, such excess shall be refunded to Maker. The terms and <br /> provisions of this paragraph shall control and supersede every other provision of all <br /> agreements between Maker and Payee. - <br /> This Note shall be prepayable, in whole or in part, at any time and from time to time <br /> without premium or penalty at the sole option of the Maker, with the amount of the prepayment <br /> being credited first in respect of accrued but unpaid interest and second in respect of principal. <br /> No invalid provisions of this Note shall affect or impair any other provision. Maker <br /> and each endorser, surety and guarantor acknowledge receipt of a completed copy of this <br /> Note. <br /> MAKER' AND PAYEE, EACH AFTER CONSULTATION WITH FLORIDA <br /> COUNSEL, KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY <br /> RIGHT EACH MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION <br /> ARISING OUT OF, UNDER, OR IN CONNECTION WITH THIS NOTE, OR THE <br /> TRANSACTIONS OR OBLIGATIONS UNDER WHICH THIS NOTE WAS DELIVERED, <br /> OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENT (WHETHER <br /> ORAL OR WRITTEN) OR ACTIONS OF ANY PARTY RELATING TO THIS NOTE. <br /> MAKER AND PAYEE EACH ACKNOWLEDGE THAT THE PROVISIONS OF THIS <br /> PARAGRAPH ARE A MATERIAL INDUCEMENT TO PAYEE'S ACCEPTANCE OF <br /> THIS NOTE AND MAKER AGREEING TO TERMS OF THIS NOTE. <br /> No amendment, modification, waiver or discharge of this Note, or any provision of <br /> this Note, shall be valid or effective unless in writing and signed by Payee and Maker. <br /> This Note shall be construed in accordance with the internal laws of the State of Florida, <br /> exclusive of its choice of law principles, and any suit, action or proceeding arising out of <br /> Promissory Note—A3 Development,LLC <br /> 296 <br />