Prepayment: The Borrower may prepay this Note in full or in part at any time without premium or penalty. All prepayments shall first be applied to outstanding late fees, then to accrued interest and thereafter to the principal loan amount.
Acceleration of Debt upon Default/Termination: If the Borrower is no longer employed by City Mattress, the outstanding balance of the loan becomes immediately due and may be deducted from any funds due to the Borrower, including, but not limited to, payroll checks, bonus checks, and payments for vacation/benefits in lieu.
Security: This is an unsecured Note.
Jurisdiction: This Note shall be construed, interpreted and governed in accordance with the laws of the State of FLORIDA and should any provision of this Note be judged by an appropriate court of law as invalid, it shall not affect any of the remaining provisions whatsoever.
Paragraph headings are for convenience of reference only and are not intended to have any effect in the interpretation or determining of rights or obligations under this Note.