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Payee shall ever receive, as interest or otherwise, an amount which would exceed the highest lawful <br />rate of interest, such amount which would be excessive interest shall be applied to the reduction <br />of the principal amount owing under this Note or on account of any other principal indebtedness <br />of Maker to Payee and not to the payment of interest or, if such excessive interest exceeds the <br />unpaid balance of principal of this Note and such other indebtedness, such excess shall be refunded <br />to Maker. The terms and provisions of this paragraph shall control and supersede every other <br />provision of all agreements between Maker and Payee. <br />This Note shall be prepayable, in whole or in part, at any time and from time to time without <br />premium or penalty at the sole option of the Maker, with the amount of prepayment being credited <br />first in respect of accrued interest and second in respect of principal. <br />Maker shall not be permitted to assign or transfer its rights and obligations under this <br />Promissory Note to a third -parry without the prior written consent of the Payee. <br />Maker shall be responsible for the payment of all Documentary Stamps for this Note. <br />No invalid provisions of this Note shall affect or impair any other provision. Maker and <br />each endorser, surety, and guarantor acknowledge receipt of a completed copy of this Note. <br />MAKER AND PAYEE, EACH AFTER CONSULTATION WITH FLORIDA <br />COUNSEL, KNOWINGLY, VOLUNTARILY, AND INTENTIONALLY WAIVE ANY RIGHT <br />EACH MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION ARISING <br />OUT OF, UNDER, OR IN CONNECTION WITH THIS NOTE, OR THE TRANSACTIONS OR <br />OBLIGATIONS UNDER WHICH THIS NOTE WAS DELIVERED, OR ANY COURSE OF <br />CONDUCT, COURSE OF DEALING, STATEMENT (WHETHER ORAL OR WRITTEN) OR <br />ANY ACTIONS OF ANY PARTY RELATING TO THIS NOTE. MAKER AND PAYEE EACH <br />ACKNOWLEDGE THAT THE PROVISIONS OF THIS PARAGRAPH ARE A MATERIAL <br />INDUCEMENT TO PAYEE'S ACCEPTANCE OF THIS NOTE AND MAKER AGREEING TO <br />THE TERMS OF THIS NOTE. <br />No amendment, modification, waiver, or discharge of this Note, or any provision of this <br />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 laws of the State of Florida, exclusive <br />of its choice of law principles, and any suit, action, or proceeding arising out of or relating to this <br />Note must be commenced and maintained in a court of competent subject matter jurisdiction in <br />Miami -Dade County, Florida, and Maker consents to such jurisdiction and venue and waives all <br />objections (including, without limitation, forum non conveniens) thereto. Maker agrees to pay the <br />City's attorney's fees and costs if the City files any legal action to enforce this Note. <br />[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] <br />74 <br />