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NOTE <br />• <br />U.S. $60,000.00 Charlottesville, Virginia <br />Date: , 1996 <br />FOR VALUE RECEIVED, the undersigned, jointly and severally, <br />promise(s) to pay to the order of the City of Charlottesville, a <br />municipal corporation (hereinafter sometimes referred to as <br />"City"), the principal sum of Sixty Thousand Dollars ($60,000) <br />Principal shall be due and payable on November 1, 1996. <br />The undersigned hereby waive homestead and all other <br />exemptions which may be waived with respect to this obligation. <br />Presentment, protest and notice of dishonor are hereby waived. <br />Right is reserved to anticipate the payment at any time of all <br />or any part of the indebtedness evidenced hereby without penalty. <br />If the amount due under this Note is not paid when due, then <br />the entire indebtedness shall at once become due and payable at the <br />option of the City, and interest on the unpaid balance shall begin <br />running on that due date at the rate of eight percent (8°s) per <br />annum. The City may exercise its option to accelerate during any <br />default by the maker hereof regardless of any prior forebearance. <br />• If suit is brought to collect this Note, the City shall be <br />entitled to collect all reasonable costs and expenses of suit, <br />including, but not limited to, reasonable attorney's fees and Court <br />costs. <br />WITNESS the following signature and seal. <br />MONTICELLO AREA COMMUNITY ACTION AGENCY <br />BY <br />Title <br />• <br />