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<br />PROMISSORY NOTE PAGE 5 <br />SPONSOR LOAN (COUNTY FUNDS) <br />hereof or the release of any party liable for the payment of the indebtedness evidenced hereby at any <br />time and from time to time at the request of anyone now or hereafter liable therefor. Any such <br />extension or release may be made without notice to any of such persons or entities and without <br />discharging their liability. <br />(b) The headings to the various sections have been inserted for convenience of <br />reference only and do not define, limit, modify or expand the express provisions of this Note. <br />(c) Time is of the essence under this Note and in the performance of every term, <br />covenant and obligation contained herein. <br />(d) This Note is made with reference to and is to be construed in accordance with <br />the laws of the State of Washington. <br />(e) Terms used herein and not otherwise defined shall have the meanings given <br />in the Loan Agreement by and between Maker and Holder of even date herewith. <br /> <br />[Signature Page Follows]