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Home My WebLink About0153 llpon tM ocCU~rs~c~ o~ ~n ~wnt ol dNaull, th~ Bu~k may institute appropriau Ipai procNd~npt spainst th~ Obf~gors to o0tain ~udprt~t~t o~ th~ Noa andl ur ex~rcia its riphts and r~mrd~ at a s~cur~d party und~r tM Fiwid~ Unifwm Comrn~rcisl Cod~ or otMr ~ppl~cabla Isw. It Me B~nk has ds~rtNd it~it ~ns~cur• upon the oCCUrr~nc~ ot an ~nt of dtfsult, tM Bank ~hal1 haw tM rpht, immWiately ~nd without /u~th~~ aetion by it, to at oft ~yain~t this Not~ all mor?~y owed by tM B~~k in any t~(>stity to ~sCh ~nd any Obli9w, ~nd alto to s~t oll sp~in~! all othM lisbiliti~i Of ~aCh A+yke~ to tM Banli sll moMy oNSd by tM Bs~k ~n any cap~city to +sch snd any NA~k~~, ~nd tM Bsnk ~lull bs d~em~d to Asw ~xKCit~d wch ripht oi ftt off Md to hsw rt~ ~ charp~ ~gsintt sny wch mon~y ~n,msdiatNy upon th~ axurr~np oi weh d~l~ult ~wn thw,yh wch chup~ is rtwd~ a~ntK~d on th~ books oi the Bank wbspu~nt thereto. UMssi [he Collat- eral is peri~hsbl~ or thr~tMt ~p deCtip~ tp~~dily in valw or is of s typ~ cuttortwiht tOld On a r~COpnii~d mtrk~t, !hs Bank wiU Qiw 1M Mak~r resson~bl~ ~otice ot the tirr~e at~d plstt of aoy publie saM tMr~ot o? tM tirtN stt~r which ~ny privat~ saN w any otMr intsnd~d dispotition th~reot K to b~ rt~ad~. TM rpuirs- me~t ot ~NSOnabq notiq ~hall b~ mtt ii weh notict is rt?~il~d, postsqe pr~pe~d, to any Mak~r at ths sddress giv~n beiow a st any oth~r sd~itress shpv~nn on tAe records of th~ Bank, st I~sst 5 dsys b~fon the tims of th~ ssl~ or disposition. Upon diipotition o1 any Coll~teral alttr tM occurrtnc~ ot ~~y d~tault, the c~n~~gws shsll be and rerrwin jointly s~d s~ver~lly IiaW~ lor ~ny d~fki~~cy. TM Bsnk shall ~ccount to th~ Maker for any wrplus but [he 8a~k shall hwe tn~ r,ghe io apply all a s~y pat of wch wrplus (a hold tM samt as a r~s~rve spainst) any and all othN I~sbilities o( e+ch a~d any Obl~gw to the B~~k, TM Oblipors here- by waiv~ any rghts of r~mptioo atta dsfautt. All p~rti~s IiaW~ /or tM psY~+t a~d rnN~ction htreot: I1) a~ree to psy a!1 ~xpN?s~s incurnd w paid in th~ protection of Collster~l o~ the entorceir?ent hers- ot, whether the 8~nk is obligated thsreto~ w not, includinp attur~ey's te~s aqwl to 1096ot ths amount i~ delault w. wch larger smou~t ~s may bs r~ssonaWe !or servicy~ and ~xp~ns~s incurred in the entortemeot h~r~Ot ~ithe~ p?~ior w Subsaquent to~jud~rhsnt end whethe~ in judiciel prpceedin9s o~ othMwiss, a~d also cnose costs, exp~nsa and reasonaW~ attaney"~ fae~ inc~ened in appellate P?~edings: i2) waive pres~ntme~t for paymeM, demand, notice of non-paYment, noc~ce of protest and protat of this Note; (31 conseot to and waine notice of any and alt ~enewals a~xtensions of time, waivers, or modificalions that may be q~anied by the Barik with respect to tAe psyment w othe~ pra.isio~s oi ihis Nota or to tAe rolease oi any Obligcx w the Collateral or any pa?t t!?e~eof, with o. ~ w~~hout substitution; and 14) agree that addetionsl makers, endorsers, guxantors a sureti~s msy become parties ha•eto without notice to them or atfactirg their !~abifity hMeundlr. • The Bank may at sny time in its sols discrotion compromise, settle or exte~d the t~me of payment of any of the demands or obligstiorn, represe~ted by sny ot the seCUritiet pl~dgsd hereunde~ and all of the parties lisble for tAe payrt~ent herept hereby make, torotitute and appoint the Bank, his or their true and lawful accorney for thi: pu?pose with full power and authority to compromise, settle o~ extend payment of said dert?a~ds or obligations and to acquire, satisfy or dis- cnarge tA~ same at tecord o? otherwise ss the psrtits liable tor the payment w collection hereof might or could do if personally present. The Bank sAall not be under a~y liability w obligation to take any steps whatsoever to fiz any tiability upon or to collect w to enfwce payme~i ot any oblgation pledpsd as tecurity nereunder whether by giving any notite, preseMing, demsnding payment, protesting, irucituting wit w otherw~se. 7he $ank shall not by any act of omission o~ tommissio~ be deemed to vraive any of its rights or remedies hereunder unless such waiver shall be in writing znd signed by the Bank and ther~ only to the extent specifically set forth therein: a waiver on one avent shall not be coostrued as conti~u+ng or as a bar to or Ka~ver of such right w remedy on a subseque~t evenL The I~ability of each Obligor shalt be absoiute and unconditior+al and without regard to the liability oi any other parcy hereto. Any notice shall be sut(icient- ~v ~*~d upon all Obligcxs by se~ving wch not~ce upa? any o~e OOligor. The notice shall be wfficiently served if placed in the mail, postage prepa+d, addressed to, or left upoo the premises ot any Oblgor at any address show~+ on the Bank's records. . NOTICE: SEE OTHER SIDE FOR IMPORTANT INFORMATION EACH MAKER ACKNOWLEDGES RECEIPT OF AN EXECUTED CQPY OF TH1S NOTE DIY THE ABOVE DATE. . ISEA~ • 1 ~ • SI NA7 RE M ER Oy . S~1'r'8 ISEA~I i ~ ~ ADDRE55 SIGNATURE OF MAKER It~e B. Sberrat~d , - ENDORSEMENT In add~tion to the liabi~ity as endorsers, whith ihe undersigned hereby aswme, ~or value ?eceived end intenditg to be IegaNy bound, the uridersigned land if more than w~e, each oI them jointly and sev~erally) Ia1 bereby uncond;tionaUy guarantee the payment of the within Note and all axtensions a renewals thereof and all wms paysWe under or by virtue thereof including, withaut limitation, all amaints oi principal and interest and all expenses (ir?cluding atcorneys fees, .tine[her incur?ed in trial o? appellate procecdings) incurred in the col~ection thereof, the e~torcernent ot rights thereunder or with rcspeet to anY security the~e- ~or and the enfor~ement hereof, a~d waive presentment, demand, notice of dishonor, protest, notite oi protest and all other notices whatsocver; and (b) consent and agree cAat they a?e bound as Oblqors under the terriu ot a~d are wbject to all provisions set forth on the fact of said Note ss fully as though they were each a Maker the?eof, and to the exercise by the holder o( each and every right the~ein set forth or permitted by law, all without ootice [a or consent of and without zrfeccirg che liatriliry of the urxiersigned, a~d further consent and agree that any of the undersigned may be wed by the holder hereof with or without joining :,ny of the other e~dorsers w Makers of said Note and without fint or contemporaneous~y wing any wch ather persoru, or otherwise seeki~g w proceeding to coliecr from them or any of them. (SEAI) ADDRE55 SIGNATURE OF GUARANTOR ~ - (SEAU ADDRE55 S~GNATURE OF GUARANTOR ~ b i s t ! s ~ R PA~ ~52 ' ~QK281 . t • f t ,