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HomeMy WebLinkAbout0631 • W ii4~vva: ~?+~a.auuaasg uua a~v. . aa»a~cas w cs~ar ua~a~lLC vi' sqas v' va . ilr uc:~~v:au ~ LrUb[ i vr agcncy account, as security for the payment of this note. and a similar lien upon and secui•ity interest in all such property af each Maker as security for the payment of all other liabilities of each Maker ta Bank (including liabilities of each Maker and any othe: person); and nank shall have the same rights as to such property as it has with respect to the collateral . ~ UPON Z'HE OCCURRENCE of any default her~under Bank shall have the reiuedies of a secured party under the Uniform Commercial Code and, without limiting the generality of the foregoing. Bank shall have the right, immediately and wlthout further action by it, to set off against this note all money owed by Bank in any capacity to each or any Obligor. whether or not due. and, also to set off against al~ other liabilities of - each Maker to Hank all money owed by Bank in any capacity to each or any Maker; and Bank shall be deemed to have exercised such right of set-off and to have made a charge against any such money immediately upon the occurrence of such default even though sucli charge is made or entered on the books of Bank subsequent thereto. Unless the collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a reco niz~d market. 8ank will give Maker reasonable notice of the time artd place ~ of any public ~le thereof or of the time after wltich any private sale or any other inte~c~ed disposition thereof is to b@ made . The requirement of reasonable notice shall be met if such notice is mailed, postage prepaid, to any Maker at the address given below or at any ott~er address shovrn on the records of the Bank, at least five (5) days before the time of the sale or disposition. Upon the disposition of any collateral after the occurrence of . any default hereunder, Marker shall be and remain liable for any deficiericy; and Bank shall. account to I~4aker for any surplus, but Bank shall have th~ right to apply all or any part of such surplus (or to hold the same as a reserve against) any and all other liabilities of cach or any I~iaker to Bank. . NO DELAY or omission on the part of Bank in exercisin~ any right hereunder shall aperate as a waiver of such right or of any other right under this note. Presentment. demand, protest, notice of dishonor, and extension of time ~vithout notice are hereby waived by each and every Obligor. The Obligors. jointly and severally, promise and egree to _ pay all costs of collechon and attorneys' fees equal to ten per cent (10$) of the principal sur~ or such larger amounts as may be reasonable and just incui•red or paid by Bank in ~nforcing this note upon the occurrence of any default . Any notice to Maker shall be ' sufficiently ser~ ed for all purposes if placed in the mail, postage prepaid, addressed to o~ . left upon the premises at the address sho~vn below or any other address shown on Bank's records . Attest: ~8~ Michael J. Egan EGAN, FICKETT & COMPANY . - Secretary gy /s/ Bernard A. Egan Address of I~Qaker: 1900 Old Dixie Hwy. As President , Ft. Pierce, Florida (Corporate Seal) ENDORSEMF.NT I In addition to the liability as endorsers. which the undersigned hereby assume, - for value received and intending to be legally bound, the undersigned (and if more than one, each of them jointly and severally) (a) hereby become surety to the ~ayee of the ~vithin note, its successors, endorstes and assigns, for the payment of the v~?ithin note, and hereby ' wiconditionall}r guarantee the payment of the within note and all extensions or renewals thereof and all sums payable under or by virtue thereof including, witliout limitation, a'_1 ~ ~ amounts of principal and interest ~and all expenses (including attorneys' fees) incurred in ~ I the collection thereof , the enforcement of right thereunder or with respect to any security ~ E therefor and the enforcement hereof, and waive presentment, demand. notice of dishonor, _ i protest and all other notices whatsoever; and (b) consent and agree (i) that all or any of the ~ collateral may be exchanged, released. surrendered or sold from time to time, (ii) that the ~ payment of the note or any of the liabilities of the Maker thereof, may be extei~ded or said ~ note renewed any number of times and for any period (whether or not longer than the original _ ; period of said n~te (iu) that the holder of said note may grant any i-eleases , compromises ~ oi• indulguences v~?ith respect to said note or any extension or i•enewals thet•eof or any f securit}~ therefor oz• to any party liable thereunder or hereunder (including but not , ' lirr,ited to failui•e or refusal to exercise one or more of the rights vr remedies provi~ed ~ by said note) ~ and (iv) that any of the provisions of said note may be modified; all <<~itnout t i~otice to or consent of and ~~itliout affecting the liability of the undersigned as endorsei•s ~ ancl suretics. and further consent and agree that any of the undcrsigned may be sued by the ` halde~- hereof with oi• without joining any of the other endorsers or makei•s of said note ~ ar.d «Rthout first or contemporaneousl•~ suing any such other p~rsons, or other~Yise seekinK ~ or prvice~ding io coLect fro:n t!:e:, or a*:y of therr., ana v~~ithout fii-st or c~ntempor~nec~usly . R uncicrtakins to enforce any rights vfith respect to any secui-ity . • ~ Florida State Documentary Stamps /s/ Bernard A. Egan (Sea]) ~ in the amount of $1, 500. 00 affixed ~ to original note and cancelled. ~ ~ ~ /s/ E lizabeth Egan (Seal) € 80QK 243 PACE ~ ~ ~ - - - ~ y J, ~5 p' _ ..y .