HomeMy WebLinkAbout0761 • • i
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i~that WRS would not enter into this Agreement or any of the subsidi-,
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~iary agreements without the personal guarantee of David B. Putnam.
15. In order to induce WRS to enter into this Agreement ~
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~~and to extend the credits contained herein, SPC covenants, warrants~ .
jEand represents to WRS that Charles W. Broun is President and Direc-1
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.itor of SPC, that Charles W. Broun is married to Winifred Broun, andi
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`;they reside together at 20 Connecticut Road, Lehigh Acres, Florida;+
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~'that Charles W. Broun and Winifred Broun has a net worth of ;
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~~$149,475.00 as of July 8, 19b7; that Charles W. Broun and Winifred :
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i~Broun, his wife, will execute simultaneously with the execution of ;
~!this Agreement, a guarantee of all obligations of SPC hereunder; {
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;3 that WRS ~rould r.ot enter into this Agreement or any of the subsidia'ry
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~;agreements without the personal guarantee of Charles W. Broun and ;
l~Winifred Broun, his wife. ~
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ii 16. Any default in the performance of SPC of any of its ;
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~~obligations hereunder, or in any other agreement which is a part o~?
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;ithis transaction, or in the event that any of the covenants or war-~
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~~rants made by SPC to WRS shall prove to be false and untrue, or in ~
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(tthe event that SPC violates any of the covenants or promises con- 4
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~`tained in such agreements, or in the event of bankruptcy, receiver-;
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~ j~ship,. or insolvency, of either SPC, Charles W. Broun or Winifred i
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i:Broun, SPC does hereby empower any attorney of any court of record=
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+~within the Commonwealth of Pennsylvania or any other state or terri~-
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~'tory of the United States to appear for it or against it with or '
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;;without declaration filed, confess judgment against SPC, in any suc~h
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~~court and in favor of WRS or its successors or assigns, for all ~
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sums which may be due and payable hereunder with costs of suit and 1
:~attorney's commission of fifteen (15~) per cent for collection, ; _
~~with release of all errors and without stay of execution and inquis-
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j=ition and extension upon any levy is hereby waived and condemnation'
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~ ~~agreed to, and the exemption of all property from levy and sale on:
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~iany_execution hereon is hereby ~xpressly waived and no benefit of ~
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SooK~.78 ~?c~ 7~ i
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