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HomeMy WebLinkAbout0287 r, ~ BANK is hereby given a lien upon aad a security interest in all property of each Obligor now or at ar~y time hereafter in the possession of BANK in any capacity whatsoevex, including but not limited to any balan~e or share of any deposit. trust, or agency account, as security for the payment of this note, and a similar lien upon and security interest in all sueh property of each htaker as security for the payment of all other liabilities of each Maker to BANK (including liabilities of each 14iaker and at~y other person); and BANK shall have the same rights as to such property as it has with respect to the collateral. UPON THE OCCURRENCE OF any default hereunder BANK shall have the remedies of a secured party under the Uniform Commercial Code and, without limiting the generality of the foregoing, BANK shall have the right, immediately and without 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 all other liabilities of each Maker to BANK all money owned by BANK in any capacity to each or any Maker; and BANK shall be de~med to have exercised such right of setroff and to have made a charge against any such money immediately upon the occurrence of such default even though such charge is made or entered on the books of BANK subsequent thereto. Unless the collateral is perishable or threatens to decline speedily in value o:• is of a type cusbomarily sold on a recogni~ed market, BANK will give Maker reasonable notice of the time and place of any publi~ sale thereof or of the time after which any private sale or any other intended disposition thereof is to be 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 oiher address shown on the records of the BANK, at least five (5) days before the time of the sale vr disposition. Upon the disposition of any col2ateral after ~the occurrence of any default hereunder, Maker shall be and remain liable for any deficiency; and BANK shall account to Maker for any suxplus, but BANK shall ha've the right to apply all or any part of such surplus (or to hold the same as a reserve against) any aad all other liabilities of each or any I~Iaker to BANK . NO DELAY or omission on the part of BANK in exercising any right hereunder shall operate as a waiver of such right or of any other right under this note. Presentment, demand, protest, notice of dishonor, and extension of time without notice are hereby waived by each and every Obligor. The Obligors. jointly and severally , promise and agree to pay all costs of collection and attorneys' fees equal to ten per cent (IO$) of the ' principal sum or such larger amounts as may be reasonable and just incurred or paid by BANK in enforcing this note upon the occurrence of any default. Any notice to Maker shall be sufficiendy served for all purposes if placed in the mail, postage prepaid, addressed to or leff upon the premises at the address shown below or any other address shown on BANK'S records . Attest: ~s/ Michael J. Egan bNE SALcS, INC. I~iichael J . Egan, Secretary ' _ BY /s/ Bernard A. E~an Address of Maker: 1900 Old Dixie Hwy . Bernard A. Egan, as President ~ . Ft. Pierce, Florida - CORPORATE SEAL ~ ENDORSEMENT 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 -t~e payee of the ~vithin note, its successc~rs, endorsees and assigns, for the payment of the within note, and hereby unconditionally guarantee the payment of the within note and-all extensions or renewals ihereof and all sums payable under or by virtue thereof including, without limitation, all amounts of principal and interest and all expenses (including attoraey s' fees) incurred in the collection thereof, the enforcement of right thereunder or with respect to any security therefor and the ehforcement hereof, and waive presentrnent, demand, notice of dishonor, 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 tirne to tirt~e ~(ii) that the payment of the note or any of the Iiabilities of the Maker thereof. may be extended or said note renewed any number of times and for any period ' (whether or nat longer than the original period of said note) (iii) that the holder of sa.id note may grant any releases, compromises or indulgences with respect to said note or 800K 2~ r PAGE ~O~ ~ ~ ~ L ~6 . _ ~ . • _ ' . ' ' ~ - ~ - . . ~ . _ . ~ ,s{" .T~" j ~ 7_. ~ ; ti y"",~}~ C"~y`-~r= . ~n^asA2x~`.