Louisville Housing Authority Agenda and Packet 2012 02 28

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• •fit 8. Interest After Judgment: If this Note is reduced to judgment, any judgment shall bear interest on the unpaid balance at the higher of(i).the per annum rate provided for by law for interest on judgments, or(ii)the per annum rate of interest on the outstanding principal balance provided for under this Note. 9. Attorney Fees. If any suit or action is instituted to collect the Note or any portion . •thereof,the prevailing party shall receive from the losing party in such suit or action such additional sum as the court May adjudge reasonable as attorneys' fees and costs in such suit or action, or on any appeal therefrom, including but not limited by,those fees and expenses permitted or defined by statutory law, and including without • limitation all fees and expenses incurred at trial,on appeal, in petition for review, arbitration,mediation and in a bankruptcy proceeding. Further, in the event of default in any payment,whether or not suit or action is instituted,Borrower promises to pay all reasonable costs of collecting such delinquent payments. 10.Limitation on Assignment. The indebtedness evidenced by this Note(and any interest therein)shall not be sold, assigned,transferred or conveyed by the lender to the Federal National Mortgage Association and/or the Federal Hon•,e Loan Mortgage Corporation and such,indebtedness (or any interest therein)shall not be included by the Lender in a pool of loans to be sold,assigned,transferred or conveyed to the Federal National Mortgage Association and/or the Federal Home Loan Mortgage Corporation. 11.Nonrecourse. This Note shall be nonrecourse to Borrower. Neither Borrower, any partner, or affiliate of Borrower shall have any personal liability for any amounts. owing under this Note. 12. Time of Essence. The times for performance of any obligations under this Note shall be strictly construed,time being of the essence. • 13. Governing Law. This Note shall be governed by and construed in accordance with the law of the State of Colorado, without regard to the conflict of law provisions of Colorado law. If any provision in this Note shall be held invalid, illegal or • unenforceable in any jurisdiction,the validity,legality or enforceability of any defective provisions shall not be in any way affected or impaired in any other jurisdiction. 14. Jurisdiction. At the option of Lender, an action may be brought to enforce this Note in the District Court in and for Boulder County, State of Colorado, or in any other court in which venue and jurisdiction are proper. Borrower consents to venue and jurisdiction in the District Court in and for the Boulder County, State of Colorado, and to service of process under Sections 13-1-124(1)(a) and 12-1-125,.Colorado Revised Statutes (1973), as amended in any action commenced to enforce this Note. [Signature Page to Follow] • 10