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Elaine executes an instrument in favor of Jerry that states, 'The holder of this note at the date of maturity, June 1, 2011, can extend the time of payment indefinitely, if the holder so desires.' This language will result, after June 1,2011, in the instrument being treated as:

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Elaine executes an instrument in favor of Jerry that states, 'The holder of this note at the date of maturity, June 1, 2011, can extend the time of payment indefinitely, if the holder so desires.' This language will result, after June 1,2011, in the instrument being treated as:






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