Agenda - 01-21-20 8-l - Lease of 308 W. Franklin Street and Suite 101 at the Europa Center, and Approval of Budget Amendment #4-C

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24 enforceability of the Lease or any other security given therefor or in connection therewith, including, but not limited to, any assignment of leases and rents, or any other circumstance which might otherwise constitute a legal or equitable discharge of a surety or guarantors. 3. The liabilities of Guarantors under this Guaranty shall be separate and cumulative, and primary, direct and immediate and not conditional or contingent upon pursuit by Landlord of any remedies it may have against the Tenant or any other party with respect to the lease, whether pursuant to the terms thereof or by law. Without limiting the generality of the foregoing, Landlord shall not be required to make any demand on the Tenant and/or any other party or otherwise pursue or exhaust its remedies against the Tenant or any other party before, simultaneously with or after enforcing its rights and remedies hereunder against Guarantors. Any one or more successive and/or concurrent actions may be brought hereon against Guarantors either in the same action, if any, brought against the Tenant and/or any other party, or in separate actions, as often as the guarantors under this Guaranty shall continue after any assignment or transfer by the Tenant of its interest under the Lease. 4. Guarantors hereby expressly waive: (i) presentment and demand for payment and protest and nonpayment; (ii) notice and protest; (iii) notice of default hereunder or under the Lease and of all indulgences (subject to the provisions of paragraph 1 hereof); (iv) demand for observance or performance of, or enforcement of, any terms or provisions of this Guaranty or the Lease; (v) all of the notices and demands otherwise required by law which Guarantors may lawfully waive (subject to the provisions of paragraph 1 hereof). Guarantors, to the extent that it may lawfully do so, also waive trial by jury in any action brought on or with respect to this Guaranty and agrees that in the event this Guaranty shall be enforced by suit or otherwise, or if Landlord shall exercise any of its remedies under the Lease, Guarantors will reimburse Landlord, upon demand, for all reasonable expenses incurred in connection therewith, including,without limitation,reasonable attorneys' fees. 5. If Guarantors at any time before or after the date hereof have advanced or shall advance any sums to the Tenant, or if the Tenant shall be or shall become indebted to the Guarantors, such sums and indebtedness shall be subordinate in all respects to the amounts then or thereafter due and owing to Landlord under the Lease. Nothing herein contained shall be construed to give the Guarantors any right of subordination in and to the Landlord's rights under or interest in the Lease until all amounts owed to Landlord thereunder have been paid in full. 6. Any notice, demand, request or other communication given hereunder or in connection herewith (hereinafter "Notices") shall be deemed sufficient if in writing and sent by first class mail, postage prepaid, addressed to the party to receive such Notice: If to Landlord at: Charles J. Coates 5001 Cole Mill Road, Durham,NC 27705 If to Guarantors at: and Phone Phone Either party may from time to time change the address to which Notices are to be directed by Notice given in like fashion. Notices shall be deemed given when received. 7. All rights and remedies afforded to Landlord by reason of this Guaranty and the Lease, or by law, are separate and cumulative and joint and several and the exercise of one shall not in any way limit or prejudice the exercise of any of other such rights or remedies. No delay or omission by Landlord in exercising such right Initials 21 (308 W.Franklin St.) Landlord Tenant