HomeMy WebLinkAbout0248 Upon the occurrMC~ ol sn ~vMt oi d~tault, the Bank may institut~ approp~ist~ Ipa1 procNd~~t aprin~~ the Oblpors to obuin judprtrnt on tM Not~ a~if/
or ~xKCis~ its ~qhu s~d nm~dNS a~ wcu~ed party und~ tM Ftaida U~ifam Cort+m~~cial Cod~ w oth~r applicabl~ I~w. If ~M Bsnk hss dNm~d itsNl ins~cur~
w upon tM otcurnnce ol an w~ent ot defsult, tM Ba~lc shsll Mv~ tM rpht, imrtwdutNy ~nd without turtM~ sctio~ by it, to f~t off spainst thic Not~ all tnon~y
ow~d by th~ 8ank in any ca~pacity ~o s~ch and any Obliqor, and slw io sst otf apai~u~ alt othK liabiliti~s of sach N4kM to ~M 6snk all mon~y ow~d by th~ Bank
in sny capacity to ~scA and sny AA~k~r. and tM 8aok ~MII b~ d~em~d [o haw ~xercis~d wch rqAt of Mt o11 snd to h~w mad~ ~ chuyt apairut snY woh moMtr
immsdiat~ly ~Mon ih~ oocw«na oi wch defwl~ ~wn thouph wch d?argt is msd~ a entKed on tM books ot tM Bsnk wbs~qwnt ther~to. Unless th~ Collat-
~al is p~~ishsbl~ o? thrwt~+u to dali~e iW~dily in valw or is of a typ~ custort~aily sold o~ ~ nooynizid msrk~t, tM B~nk will qiv~ tM Maker nssonsbl~ notia
of th~ tim~ and p~sc~ ot sny public s~le tl?Kwf w th~ tims attK which any p~ivaa s~N w any otha intencf~d dispo~ition MKwf a to bs msd~. TM rpuir~-
m~nt of naonsbl~ notia shsll M ma if wch ratia a ms~l~d. postsp~ Prepsid, to any Ir41u~ at th~ addrets 9iw~ balow w at sny otl?K sddrns show~ on ths
ncords o1 th~ B~nk, u kast 5 days beton tM tim~ ot Me ssi~ a daposition. tlpon d~fposition ot any Collaarsl ~ite~ th~ oaurr~nc~ of any default, tM
Oblqwt shsll be snd r~main jointly and stverally IisbN tw ~~y deficiency. TM Bank shall sctount to tM Make~ for sny wrplus but ths Bank t1?sll 1?av~ tM right
to apply sll or any put of wch wrptus (o+ hold th~ sam~ as a rsserve ~painst) any snd all otM* liabiliti~s ol esch and sny Oblgw to tM Bank. Th~ Oblipors hera
by va1v~ ~ny ~ipht: of r~mpiion afcK d~tault.
AN p~ni~s lisbl~ fo. tM psymMt and coll~ctio~ hersot: (1) sgree to psy a!1 exp~+?s~s incurr~d w paid in tM protection of Collatersl w tM tntorcetnent her~-
of, wMther the 8snk is obligated therefor a not, includinp attwMy's fees eqwl to 1a16oi tt~ amount i~ detsult or wch Iaryer smount as msy bs ressonable
for st~vic~s Lvid ~xpsr~ses incurred in the enforcems~t htnot either ~ar o? wbtpuent to judqrr?ent snd whether in judicisl proc~edir?ps w oths~wis~, ~nd slso
tAoss costs, sxpt~?s~s and reasonable attw~ey's f~es incurred i~ appellate proceedings: waiv~ pr~s~entrt~ent tor payrt+~nt, demsnd, notic~ ot non-payment,
notice of protest and protat of this Note: 13) conseni to and waiw notice ot any and aq r~Mwals o~ ~zien:ions of tims, vraiv~s, a modification: that m~y be
~antad by the Baric with respect to the payment w other provis~o~s of this Note or to the releasa of sny OW~ga or the Collateral a any part thereof, with w
without substitution; and (41 s9ree that additio~al makers, e~dorse~s, gusnntors o~ sureties miy b~tortK parties hereto without notite to them or stiecting tlwir
tiabilitY hNeundtr.
The BaMc may at any ~ime in its sole disc?e~iow compromise, se~cb or ex~end ~he cime of payment of anY oi the dern~nds w obti9etions, represeated by any
of the sscurities pl~dgad hereunder and all of the parties liable tor the payment hereof hereby make, Constitute and appoint the Bank, Ais or their true and Iswtul
attorney for this purpose with full pows. a~d suthority to compromise, settb or sxtend psymsnt of ssid demands a obtigations and to aoquire, satitfy w dis-
charpe the same o( retord or othatwisa ss the parties liable tor the psyment or tolleetion hereot might or could do if personaliy present. The Bsnk shsll not be
under anY liebility a obligatio~ to take anY stept whatsoavet to tiz a~y liabitity upon o~ to tolkct or to e~forte payment of sny oblgation pledged as seCUrity
hereunde~ whethK by givinp any notite. presentirg. dems~ding paYme~t, protesting, instituting wit or othervviss.
The Bank shall not bY any aCt of omissioo w commission be deemed to waive any of its rights w remedies hereunder unleu suth waiver shatl be in writing
and signed by the Bank and then only to the extent spaci(ically set To~th therein: a waiver on one event shall not be construed as continuing or as a bar to or
vraiver of weA rigAt or remedy on a subsequent event. ~
The liability of each Obligor shall be absotute snd unconditional and without regard to tM lisbility of any other party hereto. Any notice shall bs wfficient-
ly ierved upon all abli9O?s by serving wch notite upon any one Obligor. The not~te shall be wificiently served if plated in the mail, postage prepaid, addressed
to, w left upon the premises of a~y Obligor at any address shown on the Bank's records.
NOTICE: SEE OTHER SIOE FOR IfNPORTANT INFORMATION
EACH MAKER ACKNOWLEDGES RECEIPT OF AN EXECUTED COPY OF THIS NOTE ON THE ABOVE DATE. .
37~ Mc'!inlev, fairvfew, ~le~?~ ~~~rs-1 t~702r^_ (SEAU
ADDRE55 f!~,. ~ J51 ~ OF MAKER
avv
. • /K. /
ISEALI
ADDRE55 ~~~i iaS~GNA~~~E~;F MAKER
_ i n (1 ~
ENDORSEMENT
In edd~tion to the liability as endorsers, whith the undersig~ed hereby aswme, for value receivld and intendi~g to be 1e9211y bound, the undersgned {and if
mwe than one, each of them joinUy and severallyl (a) hereby unconditionaliy guarancee the payment of the within Note and aH extensions or renewals thereof
and all wms payable unde~ o~ by virtue thereof including, without limitation, alI amounn of p?incipal a~d interest and all experues (including attorneys' fees,
whether inCUrred in trial pr appellate proceedinys) inturred in the collection thereof, the enforcert~ent oi rights tha~eunder or with respect to any security tl~e~r
for and the enforcement hereot, and waive presentment, demand, notice of dishonor, protest, notiee oi protest and all othe~ notices whatsoerer; and 1b) consent
and agree that they are bound as Obligors under the terms of and are wbject to all provisions set forM on the faet ot said Note as fully as thagh they were each
a Make? tAereof, and to the exercise by the holde~ of each and every right therein set forth w permitted by law, all wiMout notice to or consent of and without
~ affeeting the liability of the undersi9ned, and further consent ar?d agree that any of the undersgned may be wed by the holder hereof with w without joining
any of tke other e~dorsers or Makers ot said Nott and without first or contempo~aneously suing any wch other persons, dr otAerwise seeking w prOCeeding to
tollact irom them or any of them. ~
(SEAU
AODRE55 SIGNATURE OF GUARANTOR
(SEAL)
ADDRE55 SIGNATURE OF GUARANTOR _
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