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Home My WebLink About1755 . - . _ . _ - - . . _ - CRE~IT LIFE AND CREOR tIFE 8 DISABIIITY INSURAMCE ARE VQLUNTARY AN~~QT a~IREO FOR CREWT. S~xh insv?~np coveraps is sv~ii~blt ~t tM cost cMsi9nated bebw fa th~ term of the credit: i-.-- ~~a--__---_---~-------------~_, for Credit Lih In- iW~fiO! (b) _ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ fOr Crldit life a a~,~i~ti i~~.,~: Horst Krau~• Appl. Cndit lif~ Insurant~ is desirod on ths life of ,k 8ox ~ &Ahd~t~ - p Crodit Ui~ ~ ~isability Irourar~n is tlesirad on - ~ Birthda» ~ p~rodit Uf~ andlor Disability Insurance is 'red. , ~ y- - ~ ww: _ o~t. t$, 19ZS s~~.w~. ~ - C ~ s~~»+w. _ Additions ro, reductioes or excFw~pes of, or substitutions fw the Collsteral, psymeen on aaouM of this bin or ina~as~s of th~ ~ ~ saene, or otMr lo~m made partialiy w wholly vpon the Cdl~teral, m~y from tirrK to time be rr?ade without aff~ctirq Mn pro+risions ' of lhis Bank sMli ~x~rcise rcasonabb uro in the custody ~nd preservation of the Coll~tersl to th~ ~ztent roquind by applicabit ~ st~t~te, and sMll bs dNmsd to h~w ~xercissd reasonable cart if it takes such action fw that purpose as Nl~ke~ shall rtason~bly nqu~st ~ in writinp, bu1 no omission to do any act not nqwshd by Maker shall be dsemed a feilure to exercise reaso~abl~ uro, ard no amis- sion to ownply with any requsst of N1~ker shsll of itself be deerned • f~iluro ro exerciss rcason~ble un. Baek sh~ll not b~ bound b ~ talc~ ~ny steps n~osssary to pres~rve any riohn in th~ ~ollateral painst pio~ p~~ties and Maker sl+all takt sll neassary st~ps fo? such pu~es. eank w in nanin.. need nor coil.cr inhrost on or pnncipal of any Collaterd o? yive sny nofios with rsspect to H. ~t If the Cotlateral shall N~Mr lims becoR~s unsatisfactory to Bink, AI4~ker shall within one day after dsmsnd pleclp~ ~nd deposit ~ with Bsnk as p~rt of the Collateral ~dditional propeny whkh is satisf~ctory to Bank. f If 8snk deems itself insec~ro, or upon the happenin9 of any of the followin~ events, each of which sMll constit~rfe • dtfauk 1+~n- ~ undK. ~II liabitities of each Maker to Bank shall there~pon or tF+ere~her. ~t the optan of Bsnk, without notioe w decn~ed, beaorn~ dus ~ ~ a~nd p~yablr. ths failun of any Oblipa (which term shall ~ean ~nd include each Meker, e+~dwser, wrety, and qwra~to? of this r note) to perforrn sny pr~ament F~ereund~r, to p~y iottrost hereon within ten days ~fter it is due, or if thero be no due d~M, after it ~j is bill~d or ofMrwis~ nqvested w d~mandsd, to piy any other liability wMtsoever to 8ank when due: (b) th~ death of any Obt' (c) the filinq of aMr p~tition under ths Bankruptcy Act, or any similar federal or state statute, by ora~ ainst amr Obliqw; tiw~ for the appointment of s reoeiv~r for, the nwkinp -of a r~l assf~nmerst fw the bc~efit of crediton by, w the i of Oblipa: (e) the entry of a j~emen1 ~rut any Obliqor: (~the iuvi~+y of sny anachmem w qarnishment, or the filirg of any li~n, u f a~a inst sMr property of any Obl'~o?; (~the takiny of posseuion of any substantisl part of the p~op~rty of any Obliyo? at the instanos . of am 9overnmenbl avthority: (h) the dissolution, me~ye~, consolidation. a reorqanizstion of •ny Obliyw: the assiynment by +ny j llll~ker of ~ny puity in any of tM f.ollatersl without th~ writtem m~sent of the Baok_ Eath Obliyw hereby waives any requirement of notios w demand rofleclinp such aocekration insofar as such requirement be in ~ddition to the mere exercise of any remedy affordsd in u fhis Noh w ths institvtion of wit by ths then holder. ~ e~ ' Bank shall havs, but shall no1 b~ limitad to, ths followiny riohn, each of wbich may be exercised at sny tirrw whethbr w not this I not~ is dve: to pl~dq~ or tansfer this note and the Cdlateral and Bank shall thereupon be relieved of all dutiss ~nd responsibilities ~ Mreunder ~nd reliewd from ~ny and all li~bility with respect to any Collateral so pledyed or trsnsferred, and sny pled~ w tra+n- biw shall for all purpos~s sta~d in the plaoe of Bank herevnder and haxe all the ri9hts of Bsnk hereunder; (ii) to transfer the whok ' ~ w~y piA of the Collateral into ths name of itself o? in nominee; (iiq to vote the Collateral; (iv) to notify the Oblipors of any Co!- I~teral ro mak~ paymer?t to 8ank of arry amounts d~e or to become dve thereon; (v) to demand, sue fw, coltact, o? make a~r campro- ~ ~ mise or settbme~t it daems desirable with reference to the Collate.al; and (vi) to take control oi sny proceeds of Collateral_ bu+k is htreby yiven a litn upon snd • security interest in all property of cach Obli~w now a ~t a~ryr time hereaftet in the pos- , N sessan o f B a n k in a?y cap~city w h atsoevtr, inc l ~ dinp b u t not limit e d to any b a lance a s h are o f sny d eposit, trust, waye ncy xcovnt, ' u the sKUrity fw thepayme nt of this note, +nd a simil~r li~n upon and security interest in sll s:xhpr operty -of exh Maker ss security ~ ior the payment of all ofher liabilities of eath Makrr ro Bank (intludiny tisbilities of eath Msker snd any other person); and Bank shall ' haw the same riqhts ~s to wch property as it has witA rospsct to the Collate~al. ` If Bank ds~ms itself insecure w upon tFk oaurrenos of any default hereunder Bank shall have the fweclosure and Wher remedies ~ of ~ sstund p~rty under the Uniform Co~nrt+srcial Code, or other appliuble lew a~d, without limiting the penerolity of the foteQoirp, Bank shall havt the ri9ht, imn»tliately and witFw~l further sction by it, to set off ayainst this nofe all mw~ey owed by Bank in any u- ~ pacity ro esch w any Maker; and if s~ch set off shall ooc~r, Bank shall be deemed to hsve exercised sucli i~yht of set oH end to have ~ made ~ charqs p~inst arry such rtwney immediately upon fhe oaurrence of such defavN even tF~ou~h s~ch char9e is made w ent~nd ` on tM books of Bsnk subsequent thereto. Unless the Coll~teral is perishsble a Mreatens ~o decl~ne speedfly in value or is of a type ~ ~ ~ customarily sold on ~ recoq~im! market, Bank will yive N4aker re~so~able notice of the t~me and place of ~ny public sale ~hereof or of E ` tht time after whith a~y private sale o~ eny othe~ intended dispositio~ ther~of is to be msde. The reqvirement of reasonable notice sF~ll ~ ~ b~ met if such notice is maikd, postpe prepaid, to any AMker et the address given below w at any other address shown on the rec- ~ ! y ads of ths 8ank, at kast five days beiore Ihe time of tFK sale a disposition. Upor? disposirion of any Collateral after the occvrrence ~ ~ J of ~ny def~ult he~evnder, Maker shall be and remain lisb~e for any deficiency; snd Bank shall account to Maker fw ar?y surplus, bv1 ~ B~nk sh~ll Mva th~ ripht to apply a11 or arry part of svch wrpltn (or to hold the sart~e as • reserve agsinst) ~~y ~nd all other liabilities € ^ ~ ot ~ach or any Maker ro Bank. ~ ~ No delay w omission on the part of Bank in exercisinq a~y right hereunde~ shall operote as a waiver of such riyht w of any ofher ' ~ riyht under this note. Presentment, demand, protest, notice of dishonor, and extension,oi t~me without notice are hereby waived by ~ tach and every Oblipor_ TM Obli9ors, jointly snd sever~lly, promise and syree to p~y sll cosis of collection and reasonable anornsys' ~ (ees (not less tha~ lOX of the principal sum) incurred a paid by 8ank in enfwci~q this note upon rhe xcv?rence of ~ny default_ +j`~, My notice to M+ker sh~ll be sufficiently served for atl purposes if left ~pon w plsced in the mail, postaye prepaid, addressed ro th~ ~ v premis~s st the sdd~ess shown below w~ny other addr~u shown on Bank's records. ~ v ~ Wherever this not~ is e:ecuted by • co-m~ker or endorser who is the wife of a maker or endwser, the said wi(e does her~by ~x- r pressly ~cknowl~dp~ the within deW as her joint and individual debt. ~ ~ Each of Maker ~cknowledqes nceipt of • completed copy af ~his on the ~bove ~e. ~ Address: ~-~T (Saq ~ Krau~• ~ ~ 80GK PACE Jo nna Krau~• , ~ ~ >x.~,. 4 ~ , . _ _ _ _ _ _ ~ ~ ~ t ~ ~'~M~~ ~~y~''~- y = w ~ ~ ~ _ ~ ' _ ~ .