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200410321 C. FUTURE ADVANCES Loan No: 0047182795 The Security Instrument is given wholly or partly to secure future obligations which may be incurred under the Note. The face amount of obligations evidenced by the Note and secured hereunder is $ 339,412.00, and the maximum amount, including present as well as future advances evidenced by the Note, which Lender shall be obligated to advance at any one time shall not exceed the face amount of the Note. Provided, however, the said maximum amount may be increased by such additional amounts as may be advanced by Lender pursuant to the Security Instrument and all such additional amounts shall be deemed necessary expenditures for the protection of the security in accordance with and to the extent allowed by the law of the State in which the Property is situated. Future advances evidenced by the Note shall be made as provided in the Agreement. Borrower and Lender have not contracted to require written notation or evidence of each future advance to be made under the Note. D. WAIVER OF CERTAIN NOTICES DURING CONSTRUCTION Notwithstanding the 30 day written notice and right to cure provisions contained in Paragraph 22 of the Security Instrument, the Borrower, as well as all sureties, guarantors and endorsers of said Note severally waive all notices, demands, presentments for payment, notices of non - payment, notices of intention to accelerate the maturity, notices of acceleration, notices of dishonor, protest and notice of protest, diligence in collecting or bringing suit as to the Note and as to each, every and all installments thereof and all obligations thereunder and against any party thereto and to the application of any payment on said obligation, or as an offset thereto, and agree to all extensions, renewals, partial payments, substitutions or evidence of indebtedness and the taking, release or substitution of all or any part of the herein described security or the release of any party liable thereon with or without notice before or after maturity. Upon default in the punctual payment of the Note or any part or installment thereof, principal or interest, as the same shall become due and payable, or in the performance of any warranty, covenant or agreement, or other default under the terms of the Security Instrument of even date given as security for the payment thereof, or under any other instrument granted to secure payment thereof or executed in connection therewith, Lender may declare the then unpaid principal balance and accrued interest thereon immediately due and payable without notice. Failure to accelerate shall not constitute a waiver on the part of Lender of the right to exercise the same at any other time. Page 2 of 7 SMSNDC /0000 /RR080003 7