HomeMy WebLinkAbout0834 7. NO DELAY or omission on the part of BANK in exercising
any right hereunder sha~l 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,
except as stated in Paragraph 6 of this Modification Agreement, promise
and agree to pay all costs of collection and attorneys' fees equal •
to ten per cent (10$) of the principal sum or such larqer 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 sufficiently served for all purposes if placed in the mail, postage
prepaid, addressed to or left upon the premises at the address shown
below or any other address shown on BANK'S records.
5. The Endorsement to the Promissory Note is modified in
its entirity to read as follows;
ENDORSEMENT .
~ In addition to the liability as endorsers, which EGAN,
FICKETT & COMPANY, HOBE GROVES, INCORPORATED, BERNARD A. EGAN,
ELIZABETH EGAN and MICHAEL J. EGAN hereby assume for value
received and intending to be legally bound, the undersigned
(and if more than one, each of tfiem jointly and severally, except
as stated in Paragraph 6 of this Modification Agreement) (a)
hereby become surety to the payee of the within note, its successors,
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 thereof and all sums payable under
or by virtue thereof including, without limitation, all amounts of
principal and interest and all expenses (including attorneys' fees)
incurred in the collection thereof, the enforcement of right there-
under or with respect to any security therefor and the enforcement
hereof, and waive presentment, 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 time to time, (ii) that the payment of the note or
any of the liabilities of the Maker thereof, may be extended or said ;
note renewed any number of times and for any period (whether or not
longer than the original period of said note) (iii) that the holder '
of said note may grant any releases, compromises or indulgences with
respect to said note or any extension or renewals, thereof or any
security therefor or to any party liable thereunder or hereunder
(including but not limited to failure or refusal to exercise one or
more of the rights or remedies provided by said note), and (iv) that
any of the provisions of said note may be modified; all without notice
to or consent of and without affecting the liability of the undersigned
as endorsers and sureties, and further consent and agree that any of
the undersigned may be sued by the holder hereof with or without join-
inq any of the other endorsers or makers of said note and without first
or contemporaneously suing any such other persons, or otherwise seexiYiy
or proceeding to collect from them or any of them, and without first -
or contemporaneously undertaking to enforce any rights with respect~ ;
I to any security.
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6. For value received, HOBE GROVES, INC., a Florida corporation,
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hereby joins in this Modification Aareement and does endorse and
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guarantee the payment of said Promissory Note to the extent of forty- '
nine per cent (49$) of the outstanding debt from time to time remaining
unpaid and agrees to be bound by the terms thereof to said extent as
though it had originally executed the same.
The term "debt" as used herein shall include, but not be
limited to, principal, interest, court costs, attorneys' fees,
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