HomeMy WebLinkAbout0315 C C
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CO~IPa\Y shall do or perform any act that the undersigned t~ns herein agrced i
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not to permit the CO?lPA~Y to do, then the holder oE this note may declare '
that pa}•ment has been accelerated and ciay declare the entire indebtedness
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then re:naining unpaid immediately due and payable ~Jithout further notice ~
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or de~and, and thereupon such indebtedness shall be payable forth~,rith,
~~'ith interest thereafter at the rate of eight (87.) percent per annum, and
if this note be not then paid in full and is turned over to attorneys for '
collection, the undersigned agrees to pay an attorney's fee equal to ten
(10%) percent of all then unpaid principal and interest.
The ~cceptance of payrnent of any installment af~Pr it~ due date
shall not be deemed to establish a custom or ~aaive any rights to enforce
pro.:ipt pay~?ent of any other installment, and the holder's failure at any
~ time to exercise any.right to accelerate the payment of this note shall
not constitute a waiver to the exercise of such right at any other time. ~
The undersigned waives~demand, presentment for payment, notice of
non-pay-aient, protest and notice of protest. ~ ;
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The undersigned reserves the right to prepay the principal of this
note, in full or by partial payments of not less than One Thousand
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i ($1,O~J0.00) Dollars each, or multiples~thereof, at any time hereafter ~
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~ with~ut prior notice and without pen2lty or premium of any kind. Any
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' such prepayment shall be applied on a*~d be credited against the install-
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~ ments of principal hereof last to mature.
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~ This note is secured by a collateral pledge of all issued and out-
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~ standing stock of the CO?~IPANY purchased by the undersigned, but such
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~ pledge shall not affect the personal obligation of the undersigned to ;
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~ pay this note as and when due, by acceleration or other~~ise, and,the ~
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holder of this note shall have the right, without exhausting the collateral ~
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or foreclosing the same, to maintain suit upon this note. Such collateral ~
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~ pledgc is evidenced by and pursuant to a Collateral Agreement of even
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~ BOOK ~+J6 PAGE 315
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