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payment and accrued interest shall be due to Payee. <br />If this Note is not paid promptly on the North Tower Maturity Date in accordance with its <br />terms and is placed in the hands of an attorney for collection, Maker agrees to pay all <br />reasonable attorney's fees and the costs and expenses of collection of this Note incurred by <br />Payee. <br />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 North Tower Maturity Date of this Note <br />or otherwise, shall the amount paid or agreed to be paid to Payee pursuant to the terms of this <br />Note or otherwise or for the payment or performance of any covenant or obligation contained in this <br />Note or in any other document evidencing, securing or pertaining to the indebtedness <br />evidenced by this Note exceed the maximum amount permissible under applicable law. If, <br />from any circumstance whatsoever, fulfillment of any provision of this Note or other <br />document, at the time performance of such provision shall be due, shall involve exceeding <br />the maximum amount permissible by law, then, ipso facto, the obligation to be fulfilled shall <br />be reduced to the limit validly allowed by law. If Payee shall ever receive, as interest or <br />otherwise, an amount which would exceed the highest lawful rate of interest, such amount <br />which would be excessive interest shall be applied to the reduction of the principal amount <br />owing under this Note or on account of any other principal indebtedness of Maker to Payee and <br />not to the payment of interest or, if such excessive interest exceeds the unpaid balance of <br />principal of this Note and such other indebtedness, such excess shall be refunded to Maker. <br />The terms and provisions of this paragraph shall control and supersede every other provision <br />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 <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 />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 <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 />Promissory Note — La Playa 2, LLC (North Tower TDR Payment) <br />114 <br />