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14 <br /> connection with this loan and, further no deficiency or other judgment shall be rendered or <br /> entered against Borrower or any of its members by County, it being acknowledged by County <br /> that it shall look solely to the collateral pledged to secure this Note with respect to any <br /> recoveries for Borrower liabilities under this County Note. It is the intention of the parties <br /> that this shall be a non-recourse loan. <br /> k) This Note may not be modified or terminated orally. <br /> 3. Closing <br /> The parties shall execute all documents required under this Agreement at the Orange County law <br /> offices 200 S Cameron Street,Hillsborough,NC 27278. <br /> 4. Miscellaneous <br /> a) Entire Agreement, Superseding Effect and Modification. This Agreement supercedes all prior oral or <br /> written agreements, if any, between the parties relating to the subject matter of this Agreement <br /> and constitutes the entire agreement between the parties. The provisions of this Agreement may <br /> not be amended, deleted, or modified in whole or in part without the express written consent of <br /> both parties. <br /> b) Governing Law. This Agreement will be governed by the laws of the State of North Carolina, <br /> without respect to the principles of choice of law or the conflict of laws. <br /> c) Headings. The headings in this Agreement are included for convenience only. <br /> d) Severability. In the event any provision of this Agreement is determined to be void, invalid, or <br /> unenforceable,the remaining provisions of this Agreement will continue in full force and effect. <br /> e) Waiver of Breach. The waiver by any party to this Agreement of a breach by any other party of any <br /> of the provisions of this Agreement will not operate or be constructed as a waiver of any <br /> subsequent breach by the party. <br /> f) Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which <br /> will be deemed an original,but all of which together will constitute one and the same instrument. <br /> g) Parties in Interest. This Agreement will be binding upon and inure to the benefit of the parties, <br /> their respective heirs,representatives, successors and assigns. <br /> (the remainder of this page is intentionally left blank) <br /> 3 <br />