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HomeMy WebLinkAbout0589 M AUDITIONAL AGREEl11EN'I~ AND PROYISiONS I( at any time any warranty, rcpre~entati•r, certificate or statement ot anr Odiisor (whether a,nuined in thu note or not) pertainins to or in conrxctioa with thi~ note or the Man or ctedit e.idence Dy thu ~te, is not true, or upon the happenins of any event o( defaule ss defi~ed herein, or i( Bank at anv time (eeh iwecurc tcx any reawn whaboever. (i) the entirc amnunt o( ihit notc rcmainins unpaid, kp the aax,unt ot any unearned in~erat nr di~count and any rcbam reqwred by lsw, shall hecome due and payabk torthwith or therea(ter at the option of the Bank and without notice ~~r demand (and in no event and no nrcumtaacn ~hall 8ant or any lr~ld~r hereo( !~e entided hercunder to unaccrued or unearned interest nr other charset, and in no evcut ar~d under no circumslanc,es shaU Bank or am hnldet heteo( be entitkd hereunder to rKei~r at anv timc any charsd not allow- ~d or permitted Av !aw or a~y interrst or interest rate in exces~ ~d the autimum albwcd by law)• (u) Bank maY. at ib option. Ihereupon or thereafter dcc[a~e alt oti~er tiabili~ies, or any ot them srkcted by ~nk (r?otwith~undins any pro.isions therco(), immediat~ly due and payabk without demand ur notice o( any kind (but with ~uch adjustments, i( any, with respect te any ~ntere~t or other charEd_ u may be pro.ided for in ~he promi~sory• eote or oiher writins evide~cina such ~ub~tity: (ii~! Bank ahall haaY and mav ezenis~ withoat dmund any aod ap 1he riaba snd rcmedia sranted to s secured psrt~ upon default under the Lni(orm G~mmercul Code or otherwix availabk te Bank (ineludin¢ tlwu availabk under any written instru- ment in addition to this not~ relatinS to any o( the iiabilitin ~r any murity thercfor) and, without limihns the aenenlity o( the (oresana. Bank shsll have the riXht, imrt~cd"utely a~d withoul (unher actinn b~ it, to set o!( asain~t this note all monty owed by Bank in any capacitY tn euh or ar.y QAli~or, whether or ru~t dut, and zlu. to ut aaai:?st al) other liabi[itia of each Maker to Ban4 a!1 money owed by Bank in any- capacity to each or any 1l:ker; and $snk sha11 6e deerncd to haaY c:rrciscd such risht of aet-o(Pand to have made a charRe against any such m~,ne~• immtd'utelr u~. the occurrence o! such default or other e~mt even thoush such charse is made or entered cx~ the bnob of Bank wbsrquent thercto: and (ivl the Obli- ~ gors, joind~~ and le.~nlh•, pr.unix and s~ret to pay aD t:penscs o( Bank in the rnllection o( thu note and in the enforcement o( rights under or with rrspect to ani• ot the Cw~liateral, indudin~ reasnruAk auornevi (ees. Any prnceed~ nt any Collateral or o( any d~~~pos~tiw~ o( any G~Ilatenl may be applied by Bank to the payment of exprnut in c~.nru~tion w-ith thc Colb~rral, including rcawoabk attorneys teea aad IcyKal expensea I( any notiCcatioo ~f intended dispc+fition o( any ot tht Collatenl is required by law•, all requirennents o( rcasunabk notice shal) be met, and such notice shall be detmed properly 6i~~en, if at f~a~t fi~•e day~ before such disposition wch notic~ is xntd on the Maker in tAr manner hereinafter provided. Upc.n disposition ~f any Collatera) \iaker shall be and remain fiablt [or am• deficienc~; and Bank shall account to \later for any surplw, but Bank sAall h~~e the ri¢ht co apply aU or pan of wch surplus to thc payment o( any IiabiiitiH whether nr nnt they, or any t?+em, be then due, and in sueh order nf applicauon a~ Baat auy (mm time to time ekct. Wt, t4:r maken, co-maleen, surcties, aod ead~nen hermn, aK~ee tn aU ~xte~uions and renewab of this note, v.hethe~ or n~.t t.~naer than the orisioai period o( this nc~te, :Sreed uport bet»•een the maker and payee, iq succetwn ur auijna, without notice to us, hereby such extenuons and R~1GN~I~, 171d b1/1d1I16 MI~l~Ytf ~Of ~1! Piyilllllt l}IlftOl. ~ [1! W~t ~ rtl:ll~l t ` ENDORSF.~lENT € ~ [n addiuoo to the liability a~ eadoners. w1?ich the uoderasned hercby wueu, tor ralue reca.ed and intendin; to be le;allY bound, tbeu+~derW~~ed ~ ~ and if more than one. each o[ thenn jointly aod ~evera11Y) (a) lxreby become surcty w the payee ot the within note, iu succe~on.endocseet and ar j ~i~ns, tor the psymeat o( the ~rithin aote. and 6eretry uacooditionally suarsntee the paymeat of the within rate and a!! e:temiom or rrnewab thrreat ~ u?d aU ~umspa yabk uader or by ~-inue thereo( includias, witlaut timiation, all amouna o[ p~incipal and iaterat and all ~penaa (includi a1w 9 fees) incutred in the colketion thereo(, the eatoreemeat d rishu thercunder or with ~espcet to any iecuricy t6er+etor and the enforcement hereof,~ind ~ wai~t ptaentmeey demand. notice ot di~honor. prowt and all wher noocn whauoever: and (b1 wment and asree (i) that aU or aay o( tfre Collateral i may oe e:chansed. reiea~ed, surrendereo or wid frorn ii~e w tiwe, (uj •~z r:;~„-ni of tLe oc+te, nr *np ~f the li~hilitirs ef the MaEet tbereof. m~y t be e;tended or uid note renewed any number oI timei and tor any peciod (Mrbetl~et or uot lo~v t6an the oriainal period o( ~aid oote), (iii) thtt . the hnlder of ~aid note may snnt any relea~a, campromisa or indulsrncd with eapect m.aid note or sny ~rnmioo~ or reaewal~ t}~ereo( o~ ~r ; ~~curity there(or or ro any parry lisble thercunder oi bereunder (includin~ but rat limited to failure or retuul to eura~e one or morc d the rishu cr remedia pro~ided bY uid note). and (iv) that anr o! the provi~ioro oi said note may be wodified; aU without eatice W or coment of and wuhout ~ affectin the !iability of the undenisned at er+donen and wretia, and turther coro~nt and asree that any of the undenbaned may 6e wed b~r the ~ t:older ~m,( ..i~h or withou~ joinins any o( the otfier endonen or maken of said note and without fint or contemporane~uly wina asy weh other ° pcrMns, ~r otAen.ix xekina or pruceedina to cotkct from thea? or any of tl~em, and without fint or contemponaeourly uode~ co en(oroe any ' ~~sha with reapect to any ucurity. T6e undenisned acknorr{edaa receipt ef a compkted co~y of this note on the date o( and ote s~uina. and ..ai~ea tAe risht to he a+ed. aftcr default, in the county o( their residcnce. - - - (SEAL) (SEAL) E - (SEAL) a ~ - ~ OR Q ~C~CX~B~ PAGF 50~ z . .92t6 1Or~~ ~ ~ ~ ~ _,=.,v . ~ , ; . _ ~