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of any insol~?ency or debtor's proceeding conunenced in goo•~ faitl~ and on i
reasonable cause, or in the event that any foreclosure proceeding is in-
stituted against any of the COMPANY'S assets, or any execution run against
or lien placed on any of said assets, or in the event that the C0.WPANY
shall do ar perform any act that the undersigned has herein agreed not to
permit the CO~iPANY tojdo, then the~holder of this note may declare that
payment has been accelerated and may c~eclare the entire indebt~daess th~n
remaining unpaid immediately due and payable without further notice or de-
mand, and thereupon such indebtedness shall be payable forthc~ith, with in-
terest thereafter at the rate of eight (89.) percent per annum; and if this
note be not then paid in full and is turned.over to attorneys for collec-
tion, the undersigned agrees to pay an attorney's-fee equal to ten (10~)
percent of all then unpaid principal and interest.
The acceptance of payment of any installment after its due date sha1L
not be deemed to establish a custom or waive any rights to enforce prompt
payment 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 consti-
tute a~aaiver to the exercise of such right at any other time.
' The undersigned waives demand, presentment for payment, notice of
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~ non-payment, protest and-notice of protest.
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The Lr_~ersigned recerves the ri~ht t~ prpQay the princinal of this
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~ note, in full or by partial Qayments of not less than One Thousand
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($1,000.00) Dollars each, or multiples thereof, on December 1, 1975, or
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~ at any time thereafter without prior notice and without penalty or Qremi- ;
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~ uM of any kind. Any such prepayment shall be applied on and be credited
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y against the installnents of principal hereof last to mature.
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~ This note is secured by a collateral pledge of all issued and out-
~ standing stock of the CO~IPANY purchased by the undersigned, but such pledge
shall not affect the perso:~al obligation of the undcrsigned to pay this
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~ BOOK ~J6 PAGE 32O
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