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~ CO~iPAt~Y shall da or perform any act t: 3t the undersigned has herein agreed ~
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not to pern?it the COHPA~Y to do, then the holder of this note may declare ;
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that payment has been accelerated anri -~ay declare the entire indebtedness ~
then remaining unpaid imnediately due 3nd payable Hithout further notice i
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or demand, and thereupon such indebte~less shall be payabLe forthwith, {
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~,•ith interest thereafter at the rate ef eight (8X) 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 prin;.:Qal and inCerest.
The acceptance o€ payment of ar_; in~tallment after it~ due date.
shall not be deemed to establish a cu~~om or waive any rights to enforce
. prompt payment of any other installme~c, and the holder's failure at any
time to exercise any right to acceler~te the payment of this note shall
not constitute a waiver to the exerci:~ of such right at any other time.
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The undersigned ~saives demand, :resentment for payment, notice of
non-paynent, protest and notice of prc.test. ~ ~
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The undersigned reserves the ri~ht to prepay the principal of this i
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; ~ note, in full or by partial payments cf not less than One Thousand '
~ ($1,000.00) Dollars each, or multiple=`thereof, at any time hereafter
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~ without prior notice and_without pena'_ty or premium of any kind. Any
~ such prepayment shall be applied on z~d De credited against the install-
raents of principal hereof last to mat_re.
~ This note is secured by a coll~:eral pledge of all issued and out-
~ standing stock of the CO?NPANY purchas_3 by the undersigned, but such
pledge shall not affect the personal ~blioation of the undersigned to
~ pay this note as and when due, by acceLeration or othe.r~~ise, and.the
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~ holder of this note shall have the ri;ht, without exhausting the collateral
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~ or foreclosing the same, to maintain :~it upon this note. Such collateral
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~ pledge is evidenced by and pursuant a Collateral Agreement of even
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~ BooK ~ PACE 325
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