HomeMy WebLinkAbout0113 Upon tM occurrenc~ ot an event ot d~fault, ths Bank may ~~stnute approprut~ Ipal proc~scli~gs ayeins~ tke Obhgo~s io obia~n ~udqm~n~ on the t~oie and/
o~ ex~~ut~ its r~qhts u?d r~mW~es ss a secur~d psrty u~der th~ Flw~da Uniform Comrrnrc~s! Code p otMr applic~l~ law. It the Bank hat de~m~d ,cse1(,~s~cur•
o~ upon tM otturnnc~ o/ ~n tvrnt o1 defautt, th~ Bank tha!! haw tM r~l?t, immedistsly and wlthout furtMr ac[ion by it, to Nt oll s~~nst thii Note ~II moMy
owed by tM Ba~k in any capacity to ~ach a~d any Oblpor, snd slso to s~t ofl ~ga~nst a11 oth~r I~abititi~t p1 ~ach MskK to tM Bsnk all rtwn~y ow~c1 by tAe Bsnk
~n any cspacity to each arwd any Mak~~, and tM B~nk shall b~ deemad to have txercised wM rpht o( ~t ofl and to Mw made a cRar~e apainst any wch mon~y
~mmecfiatNy upo~ ~h~ accur~snce ot wch detault wen tAou~A such chups is rt»d~ a~nie~~d a? the books of tM 8ank wbssquent [her~to. Unless tAe Collat-
eral is pt~~shabl~ a thr~at~ns to ded~M spesdily in valw o~ is of ~ type customs~ity sold a~ ~ repopnis~d m~rktt, tM B~nk will yiv~ tM Maker reason~bl~ notica
ot che tims a~d plsc~ ot sny public sale th~rsot or tA~ 1 me atttr which ~ny privau ssN a s~y otM~ intanded dispcuitio~ th~reof is to b~ made. TM ~pui.a
ment of nasonablt not+ct shall be m~i if wd~ notiq i3 ma~l~d, postayt prepa~d, to any Maker st the address given below or st any oth~r eddrtss show~ p~ th~
~ecwds ot tAe 8ank, at least 5 days b~fo~~ tM time ot the sale or d~sposition. U~w~+ ditposition o1 any Collateral a~tN the occurrence ol any d~(sult, the
Obligors shall be and remain jointly and sev~rally liable (or any detiae~cy. The Bank shait sccou~t to tM Make. fw any wr~?lus but iM Bank shall hsw iM ?i~ht
co apply sN or any pait o1 such su~plus (w hold tAs same as a reserve agamstl any and all othK liab~lities oi each and any Obligw to che Bsnk, The Oblipixs herr
by waiw s~?y rqhts of ~ed~mpiion sf~a defaut~.
All parties liabl~ toe the payme~t and cotlacbon hereof: (1) agree to pay all expenses i~curred or paid in the protection of COltateral or the en[orte~nent here-
of, whethe~ tM 8ank is obligated therefor w not, inctuding attorney's fees equat to 10'16ot ihe amount ie delault or such Isrgsr amount as may be reasonaWe
for servic~s and expensss incurred in the entorceme~t hereot either p?io? or wbsequent to judgme~t s~d whether in judicial procaedings w othtnris~, s~d alfo
;hose costs, exps~ses a~d resso~able attwney's laea incurred in appella[e proceedirgs: (2) waive Presentment fw psYme~t. cNmand, notice oi nonpaYment,
nui~ce ol protast and protest of this Note: (31 consent to snd waive noticr ~sy arx! al! ?enswals o~ axten:ions of time, waivers, or modititatiartit that msy be
yrantsd by ths Ba~c with respect to the payment a other provisions of this Note or to the re{ease of eny Obligor or the Coltateril or a~y psrt thersot, witA or
w~ihout wDstitution; and (4) agree ihat additwnal makers, endorsers, guaranto.s or sureties may become parties hereto without notice to them or atl~cting their
I~abdity hl~eunder.
Ths Bank may at any time irt its sole discretion comRromise, setUe or extend the time of paymeM of any ot the demar?ds a obligations, rep.ese~ted by any
of the seCUritias pkdged hereunder and a11 of the parties tiable to~ the payment hereo( hereby make, Co~stitute and appoint the Bank, Ais O? their true end lewiul
aicor~ey for this pu~pose with full power and authority to compromise, senle or extend paymsnt ot said demands or obtigations and to acquirt, satisflr w dis-
cnarge the sams of retord or otherwise as the pa~tiss liable lor tAe paytnent or collettion hereof mght or Could do if pe~so~ally present. The Bank thall not be
under a~y liability W obligation to take arey steps whatsoever to tix any liabiliry upon or to collett or to entorce paymEnl oi a~y obligat~on pledqed es seCUrity
hereunde~ wheihet by giving a~y notite, prese~tirg, demanding payment, protesti~g, instituti~g wit w otherwite.
The 88nk shall not by any aCt oi omission or comm~ssion be deemed to waive any oi its rights or ~emedias hereunde. uMess such waiver shall be in writing
and sig~ed by the 8ar?k and then only to the extenl specitically set lorth therein; a waiver on one event shall not be construed as continuing w as a ba. to w
wra~ver of such right w remedy on a subsequent event.
The liability of each Obligor shall be absolute and unconditional a~?d without regard to the Iiabitity of a~y othe~ party hereto. A~y notice shall be w(fitient-
~v ~~~ed uPon all Obligors by serving such notite upon any one Obligor. The nouce shall be wffitiently serv+ed ii placed in the mail, postage prepaid, addressed
co, or left upon the premises of any Obligor at any address shown on the Ba~k's records.
NOTICE: SEE OTHER SIDE FOR IMPORTANT INFORMATION
EACH MAKER ACKNOWIEDGES RECEIPT OF AN EXECUTED COPY OF THIS NOTE ON THE ABOVE DATE.
66 So. SoTandra Dr., O~lando, ~1. 32807 (SEAL?
ADDRESS . SIGNAT R OF MAKER
~ yd N. Bruton
(SEAU
ADDRE55 SIGNATURE O MAKER
Ruti~ Bruton
. ENDORSEMENT
)n addition to the liability as endorsers, which the undersigned hereby aswme, for value received and inte~ding to be legally bpund, the undersigned (and if
more than one, each of them jo~ntly and severally) (a) hereby unconditionally guarantee the payment o~ the vrithi~ Note and all extensions o~ ro~ewals the~eof
and all wms pay~le u~der o~ by virtue thereof including, without limitation, all amounts of pintipal and interest and all expenses linclud+ng sttorneys' fees,
whe?her incurred in trial or appellate proceedings) incurred in the colkct~on ~hereof, the enforcement of ri9hts thereunder o. with respect to any sewrity there-
f o+ and the entorcement hereot, and waive presentment, demand, notice of dishono?, protest, notice of protest and all other notices whatsoever; and (b) conse~t
and agree that chey are bound as Obligprs under the terms of and are subjett to all provisions set forth on the tact of said Note as fully as though they were eaeh
a Maker the?eof, and to the exercise by the holder ot each and every right therein set forth pr permitted by law, all without notice to or rnnsent of and without
affecting the lidbility of t~e undersigntd, and further consent and agree that any of the undersignecl may be wed by the holder hereof with w without joming
any oi the other endorseri or Makers of said ryote a~d wiihout lirst w coniempora~eously wing any wch other persons, pr otherwise seeking or prouedi~g to
co3lect from them or any of them.
(SEALI
ADDRESS SIGNATURE OF GUARANtOR
- ISEAU
ADDRE55 SIGNATURE OF GUARANTOR
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