Saving or otherwise accessing notes and highlights from ebooks checked out through a library service

I just downloaded Adobe Digital Editions 3.0 to view an e-book title that I have checked out from a university library. I was wondering what will happen to the notes and highlights I create digitally through the Adobe program when the book is no longer "checked out".  Will I lose all the work I put in?  And if so, is there any way for me to save it, or later gain access to these notes and highlights?