HomeMy WebLinkAbout0543 . 1
7. Darowar wucsats that it ia and will b~ th~ abdut~ w~aa~ of i~s in~wbq. dar d all ~ncvm.braaces and s~cvrity inur»sb od~er ehan `
tM Daak's wcvrltr iot~sat '
9. Dorrow~r ~hall paY Daak suck Int*rat ta maY b~ sp~ci8~d ia anY aot~ ~~rid~acinq ~ lo~a or ad~ann mad~ h~r~und~t and sud~ ser~rin
eLarq~s as m~t b~ sgrNd upaa aad shall paT w Bank al! ootb aad ~:psnap. indudiaq atbm~Y i fee~. incurr~d b~ H ia th~ pc~wnatioo~or coU~ction
d eollaNral. CAanq~a ia iut~~ed rab aad s~r~fe~ charqes maY D~ made br Danl~ trom ttm~ b tim~. notw[~hatanding 1l~e int~rsst rat~ spsafi~d ia
anT ao1~ ~+id~nciaq a ban a ad~aae~ h~nund~r. upon aotke to Barow~r aad sAaL bcrom~ e8~cti~~ oa tLs dat~ th~nin sp~ei6~d.
9. Dank ahall ba~~ th~ right at aaY tim~ and lrom Hm~ b tlm~, wi~hout notks b: (al tasur~ in~ealoR to ib ~atisEaction at Horrow~r's
p~os~ U Barow~r IaiL b do ao: and (b) paY. !or th~ aeoount o! Horrowsr. aa~ tuei. l~~la. or other chuqa atlaetinq Borrow~r's in~snbrt or upon
o~ on aooount d tl?is aqra~m~at or any liability o~ mr nob or otba writing ~~id~ncinq any 1W~ilftr. Mrhich Horrowar tai4 to pay. and aa~ such paym~at
ahaD ooostituN a IiabWtT d Bonow~r.
10. W6~n and to t!N ~itsnt nquatsd bY Hanl~ at aar tlms. aad Erom tim~ b Um~. Bono~w~r ~sil1 prompUY: W dslir~r 1o Ban~ ILta or eopias oi
a11 acoounl~ whk6 an procwds oI Bortow~ra En~~ntorT p~'~PV7 aft~r 1L~r arW: (b) dNi~er b Hank. prompUy upon reeeipt aU procwds d ita
invwlorl r~cri~d bY Boc:ow~~ (~:cvpt qood~, iadudinq pcocMds ot t1~e acoounb nba~d b abo~ro, io ths e:sct tam ia which l6eT u~ t~irsd:
(e) b~~id~p Bank's r[ghts 6snunder. asaiqn or eadorw ptoc~sds b Haak: aad notifi? aooount deb~as ~hat their aecoun~s ha~e bKa aasiqned b
Baa1[ and a6aU b~ paW lo Bank and iodicah on all iuroins b sut6 acoouat d~Wors fhat Iha aotounb u~ papabl~ b Bank. th~ Baek sball 6a•e full
pow~r lo notilT acrnunt d~bttas. ooll~ct. oompromL~. indaw. asli or otbsrwts~ dwl ~tth p:ow~ds ia Hs owe nanw ar ibat d Borrow~z at any tim~.
Baak ia ib discr~tioo saY appllr caah proc~wds b th~ paTm~at ot aay liabilltia wheth~r ~ not th~T. or an7 d them. be tLsn dw. ud in auch
ocder ef appliuttoa as daak may lrom time ta tlms e1ed. or mat rel~ase sueh caah proc~eds b Borrower !o~ use in ths op~r:tion ot Borww~i
s
business.
11. Undl dNault, Bonower maT uae ies in~eeto~ in aa~ Ia~rlul mannsr not inowuisttnt witb this sqr~smsnt and the terms d aa~ h?-
turane~ thereoo: maY wll i4 ia~satory in the ordioaqr ooun~ 01 businsu: and ma7 ua~ and eoosume any nw m~t~rieL or supplies. th~ u~e and cca-
sumption ot whLd~ ia a~oessacY ia ordst to carry oo Borrawtr's buainen.
12. If at m7 lime anr warrantp. rspr~aeatatioo. arti8eab or statemwt aI Bo~row~r 4 not tru~. or ii any liabilitp a~ anr put a inwllment
th~r~aE a inbr~st thsr~aa is aot paid wh~a du~. a U aay ~~~nt ol dstault as de~n~d in asY m1~ ~ other ~~idencs of liabilitT Mld Dy Dank s6ould
oocvr. or i! Baronrsr shouW isil to obwn~ or perlorm anr aqre~m~at or tsrm henof. or U Hank a1 anr time leeb ios~cvre (or anT rearm whalws.~.
Baak mai. at ib option. t~r~upoa a thersaft~r declus all liabilitt~s ot Bonawu b Baak ~ aaY d thew salsclsd blr Bank (notwithwndiaq anT
pro~isioas thenoD. imm~diately due aad payabls wtlhout d~maud or notice ot anT ldzd (bul wita aueh ydjustmenes. it anY. witD r~spoet b tnt~r~st or
oWsr chug~s aa mar b~ pso~ided lor ia th~ pcomisw~r nots or otb~r writinq e~rid~ncinq wcb IiabUitp). and Bank in addition lo ant olhar riqbts and
~ w6ieb it msl ba~~. shall 6a~~ and mar ez~ccise immidiat~ aod wUbout d~mand. anY a~ a11 W~ riqbb and nmedia qraated b a secvred
putp upaa dei~ult und~t tha Unitorm Comm~rcial Cod~.
13. Upon raquest or demand ot Ban1~. Borrow~s shall, at its e~nw, asMmbl~ its iareator~ aod maka k availabl~ 1o Bank at a oonreai~t
plsos aaephble b Baalr. Borrower sball pap to B~nk an d~mand anr andall e~ensss. iadudiag l~qa1 ezpsnses and reasoaable attomeTs' fess in-
t~ur~d a paid by Hank ia pcdsctinq aad aatoe~cinq 11abUitias and tM tiqhb of Bank hueundsr. Lodudinq BanYs riqDt b takt posses~ion of Bozrower
i
in~wlory and ib proceods. and b hold. prspue lor sals, sell and dispose d such in~eab~r. AnT notiae of sale. dispoaition or olher intended actifla
bT Bank, sent to Bono~rsr at the addrsss sp~cifisd io tho preambls oi fhi~ agreeden4 or suc~ olher addr~as of Baaower as may from tims b Ume
be s6o~va an Hanlc's r~cords, at kast Sv~ daps pria to such actlon. shall coostitut~ reasoo~ble ~ b Borrower.
l~. No waIver b= Bank d anp detsult shall op~rsts as a wai~er ot anr othes detault or ot tht ~ame deisuh on a tuture oecasioa No del~r
or omLsiwa am ths part o# Hank io ezercisinq anT right o: remsdr shall opente as a wai~er thsrwf. and ao siogl~ or putial ezerdse by Bank ot
any right or r~medy shaA pisdude or aHM anr other os tuither e:ercua thereot or Iho sz~rclss o1 anp olher riqht or remedp. Tims is d the easence
ot Wis agreem~nt. 'fhe pro~isions d lhis aqreemant are cwaulativa and ia addition to tha gco~isions ot any liabititY and any note or olher writiaq
av3dsacinq aap Wbiifitp seeured by this aqrosman4 and Bank ahall ha~~ aU tha beaeHb. rkjhb and remedies ot and under anp liability aad any
noM Qr other wtitinq eridandnq any liability secw~d her~bp. It mora Wan oas party aAall ez~cuts Ih;s aqrseman4 the term "Hosro~rer" ahalt
meaa aU paKias aiqainq this aqreement and wch ot them. and aU such parties shail be (oiady and sererallp obllgated and liabte hereunder. Zhe
singular pronoun, wfiw ussd herain, shall iaclude the plural, and the neuter aLaD iacluds the mareulL~e snd temmioe. All tioh4t ol R+~nk h•rs
....w-~.r. ; u.~ua b ti~a beneni oi iis suocessws and as~igna: and au obtigations o( Bonower shall bind tha heirs. ezecuton. adminisuators. wcossson
and +wigas ot each Honower. If thL aqresment L not dated when ezecuted b7 the Borrower, the Bank is authorizsd, without notice to the Borrawer, to
date ehts aqreament.
15. BonoMrsr releas~ Bank hom all daims for loas or damaqe cau~ed bp anr failura to colket anp ac+count or eniorce aay oootnd riqht ar
bp any aet ar e~issioa m the parl d Bank, its o(6cen. ag~ats and employees, ezcspt wililul misoonduct.
16. This agr~emant may bs teiminated by either putT qfrinq 1Le dher writtea notk~s of iatsnNan to tetminate oa a date named 'm said
aotia, mail~d or deH~ered w the addrsss shown fe We prsambls at tLis aqreement or to the last Imown addrest o[ the Bonowe~ a other party to
wbom wch nwica b addressed, sbown on the records ot ths Hank or dherwiss Icaown: but no siuh tarmination shaU in anT way a!lect the rights
and liabilities oi ths parti~s here~mder relating to bans mad~ amd inranbry or otha P~~riT P~~9~ P~ to ibs dats named in surl~ notioa.
17: 'Ihis sgreement has beea deli~arad in ths State d Fbrida and shall be eonstrued in aocordance with the laws ot Florkls.
IN WITNFSS WH£AEOF, this agreemeat has been dsilp e:ecvted as ot the dsts bsreioabo~a first writlan.
Siqned, sealed and deli~e:ed ' X~ t/~ at~
~ Edward P . Conti
lCFRi.1
~A3,1
BOAAOWIIi .
(COAPOMTE SEJSIJ
Pirst Muine Bauk and Trust Co. ot the Palm Baaches, Ri~iera Besch, Florida
ll1TE.r~'T: Br
1is its Presidsnt
As iu Gshf~r ~ BANt
F , r ~ E~~{~E ~
, ;