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<br />I <br />( ( <br /> <br />Anything herein to the contrary notwithstanding, no default under item (i) of the <br />above paragraph shall constitute an Event of Default until actual notice of such default by <br />registered or certified mail shall be given to the Eligible Borrower by the City on behalf of the <br />Consortium, and the Eligible Borrower shall have had sixty (60) days after receipt of such notice <br />to correct said default or cause said default to be corrected and shall not have corrected said <br />default or éaused said default to be corrected within the applicable period; provided, however, <br />that if said default be such that it cannot be corrected within the applicable period, it shall not <br />constitute an Event of Default if corrective action is instituted by the Eligible Borrower within <br />the applicable period and diligently pursued until the default is corrected. <br /> <br />This Note is secured by a certain Open-End Mortgage of even date herewith <br />fIled for record in,the office of the Recorder of Cnyahoga County, Ohio from the Borrower to <br />the Lender, mortgaging certain real property located in Cuyahoga County, Ohio, (the <br />"Property") to which reference is hereby made to said Open-End Mortgage for a description of <br />the security and the rights of the holder hereof in respect thereof. <br /> <br />The undersigned agrees that the rights and obligations of the parties hereto shall <br />be governed by the laws of the State of Ohio. <br /> <br />The undersigned hereby certifies that this Note was signed by it at the place of <br />execution set forth above in Cuyahoga County, Ohio and shall be binding upon its successors <br />and assigns. <br /> <br />The Borrower and every endorser now or hereafter appearing on this Promissory <br />Note waive presentment, demand, protest, notice of protest or other notice of dishonor. <br /> <br />This Note is a non-recourse note. In the event of default hereunder, the sole <br />remedy of the holder of this Note shall be foreclosure of the Open-End Mortgage which secures <br />this Note, and such holder, its successors and assigns, shall not be entitled to a deficiency <br />judgement hereunder, it being understood that the liability of the Eligible Borrower under this <br />Note and the accompanying Open-End Mortgage is limited to the Borrower's(s') interest in the <br />Property . <br /> <br />BORROWER(S) <br /> <br />E-2 <br />