2011-03-14_REVISION - M1977493 (47)

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CM0001183 • Overdue principal, and (to the extent permitted under applicable law)-overdue interest, whether caused by acceleration of maturity or otherwise, shall bear interest at an annual rate of 12% until paid. This Note may be prepaid, either in whole or in part at any time without premium or penalty and without the prior consent of the holder hereof, on the conditions that (i) the Company shall pay all accrued interest on the amount.of the prepaid principal outstanding at the time of each prepayment. The Company shall be entitled.to certain credits against the principal balance and interest accrued hereunder pursuant to the terms and conditions set forth in the Reservoir Purchase Agreement dated as of July 21, 1992, between the Company and Payee. This Note.is secured by, and the holder of'this Note is entitled to the benefits of, a Deed of Trust (the "Deed of Trust") and a General Security Agreement, Including Pledge of Securities (the "'Security Agreement"') (the Deed of Trust and Security Agreement are referred to as the ffSecurity Documents"), of even date herewith, given by the Company for the benefit of Payee to secure this Note and covering certain shares of the Company's Class A Series 1 common stock (the OCollateralv). Reference is made to the Security Documents for a description of the Collateral and the rights, remedies and obligations of the holder hereof in respect thereto. The Company shall be entitled to a release. of 10 shares of the Collateral from the encumbrance of the Security Documents upon each payment of $4,098.36 in principal together with interest accrued thereon. The Company shall be entitled to additional releases of shares of the Collateral from the encumbrance of the Security Documents upon the occurrence of certain events described in the Reservoir Purchase Agreement dated as of July 21, 1992 between the Company and Payee. Time is of the essence hereof. In the event of any default or event of default under the provisions of the Security Documents, and such is not cured within fifteen days after written notice thereof is received by the Company then the whole principal sum of this Note plus accrued interest. shall, at the option of the holder of this Note, become immediately due and payable without notice or demand, and the holder of this Note shall have and may. exercise any or all of the rights and remedies provided herein and in the security Documents. Notwithstanding anything to the contrary herein or in the Security Documents, in the event of a default under this Note or the Security Documents, Payee shall look only to the E-2