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5_,. 002349 Ffees. If action is brought to collect this note, the note holder shall be entitled to collect all reasonable costs and expenses of suit, including, but not limited to, reasonable attorney's fees awarded by a court, including those incurred in any appeal and after judgment, and all costs and expenses of foreclosure including reasonable attorney's fees. 5.4. Late Charges Before Acceleration. Late charges shall apply before acceleratton by note holder of the maturity dates of all remaining unpaid installments; borrower shall be liable to note holder for late charges on any monthly amount not received by note holder by the last day of the month during which each such installment is due. The late charges for each such delinquent and unpaid installment, or any unpaid portion thereof, shall be. paid as follows: 5.4.1. On the first day of the month in the month immediately following the day and month a scheduled payment was due, an amount shall be paid as a late charge equal to four gent of the unpaid portion of the scheduled monthly amount in default. 5.4.2. If on the first day of the month following the month a late charge is payable under the preceding subsection and a scheduled payment still has not been paid, then on that first day of the month and each successive first day of the month thereafter an amount shall be paid as a late charge equal to two percent of the unpaid portion of the scheduled monthly amount in default until such delinquent sums have been paid. If the late charge amounts paid by borrower exceed the maximum amount allowable by law for late charges before acceleration, the specified amount shall be equal to the maximum amount allowable by law on the unpaid portion of the scheduled monthly amount in default and the excess shall be credited pursuant to section 6.1. of this note. 5.5. Penaltv Interest After Acceleration. In the event the note holder elects to accelerate the maturity (late upon default, the entire principal amount and accrued interest, from the accelerated maturity date specified by the notice to borrower, shall thereafter draw interest tit the specified rate of either 20% per annum or three percentage points in excess of the "prime rate" (as defined in subsection 4.3 above), whichever is greater, until the obligation is paid in full. If both these specified rates exceed the maximum specified rate allowable by law, the specified rate shall be equal to the maximum rate allowable by law calculated on the entire principal amount and accrued interest from the accelerated maturity date specified by the notice to borrower. 6. APPI,ICATWN OF PAYMENTS AND PREPAYMENT. 6.1. Application of Payments. Payments made on the obligations evidenced by this note shall he applie as Mows: First, to the payment of unpaid and due costs and attorney's fees, if tiny; next, to the payment of unpaid and due late charges, if any; then, to the payment of unpaid and due interest, if any; and finally, to the reduction of the principal balance. The acceptance of a portion of an amount due shall not be deemed a waiver or relinquishment of any right or remedy, including the right to declare the entire balance due if the maturity date of this note has been accelerated due to default. F.2. Pre ment. Borrower may prepay the principal amount outstanding in whole or in part thout premium or penalty. Note holder may require that any partial prepayments be made on the date monthly installments are due. Any partial prepayment shall he applied against the principal amount outstanding rind shall not postpone the due date of any subsequent monthly installments unless after a written request note holder shall otherwise agree in writing. Partial prepayments may reduce the amount of monthly psymenty on or after the payment .adjustment date following the partial prepayment; however, any reduction due to a ptirtial prepayment may he offset by an interest rate increase as herein provided. ". SURSWrtFrION OF I.lADILITY RESTRICT)gU. The tinder igned borrower refers to n Christian church, or Church of Christ, or ra qualifying related 1rgan1zFition, find, rat the tune of the making of this note, n natural Person is not included within the mt *nning of the term "borrower." The undersigned korrower agrees this note is ciersonril to the undendgnNd borrower or to rinv successor in inter , 1. approved by note bolder and iN to tm secured by a mortgage r doed of trust )n real properly, rin(I that the umrlersigned horrower's rwrsonal responsibility nnfi rnntrt i -f l4.ge f, stir t