HomeMy WebLinkAbout0300 Upon tf?e otturrence of an eve~t o1 dslaul~, the Bank may ~nstuute apWoPriats Ipal p~ocNdu?ps apamst th~ Obhgors to o~tain ~ucfpn»~t on ths Nou and!
exerc~ss ~1s rigAtt and remed~es ss a ssCUred pa~ty u~dt~ tha F~or~da Uniform Commerual Coda or oth~r spplicable law. If the Bank hss d~em~d ~~self ~ns~cur•
~ upon tM occwnnc~ ol an eve~t ot defau~t, the Bank thall hsw ths nqh~. ~mmed~atelY a~d inhhout turth~r athon by it, to set otf a~aa,nst this Noce sll monty
~,.ved by the Bs~k in any capacity to esch a~d any Obligo?, and also to set otl ayainsi all oth~. 1labiliti~s ol ~acA MakK to tM Bank all mon~y ow~d by the Bank
any cap~city to esch a~d a~y Mske~, and the Bank shsll b~ deemed to ~ave exercised wch rpAt of set otl and to have made a charye agsini~ sny wch mon~y
~r,~mediately upon th~ occurrer+ce o1 wch ch~ault ewn thou9h sucA cha~ge is msde a e~tered on tha books oi the Bsnk subsequent th~reto. Unless the Collst-
e~3i ~s pe?iihabh o? ~hreacens ~o decline speedily in value o? is ot a type cuscomarily sold on a ~~coq~uz~d mukee, the Bank will giv~ tha Maksr ~easonable notKe
or the lims and p~sc~ of any publ~c ssN tF?~cwt w tM time aft~r which any private saM w any oth~r int~nded disposition th~reof is to bs 1nad~. The require-
menl ot ~easonabl~ ~ouct sha11 be rt+et if wcA ~otip is ma~led, postage prepa~d, to sny Maker st t1?~ address given below a at any other addreu shown on the
~eco~ds ot iM Bsnk, at least 5 daVS beto~e iM ume ot the sale a d~spos~[~on. Upon d~sposition ol a~y Collateral aftR~ ths occurrenu ot any dNault, ~he ~
O~,i~gors sha11 be and re+r~~n jo~ntly and sav~rally 1lable fo~ any det~cie~cy. The Bank shsll account to the Maker tor sny wrplus but the Bank shall have ~he r~ght
~o apply all or a~y part of such surptus (a ho{d the sama as a reserve against) any and all othe~ liabil~has of eacA and any Oblegw to the 8a~k. The Obligors here•
t,y v~ai~re any rights oE redempuon atter delault.
All psrties I~aW~ for the peyme~t and collection hereof: (1! agree to paY all expensss incurred or paid in the protection ot Coilateral w the entorcen?ent here-
whether the Bank is obligated therefor or not, including attorney's fees equal to 10'Xvo( the amount in default or tuch larger amount as may be reasonable
serv~ces and expenses ~ncwred in the enforteme~t hereo( ehher prior or subsequMf to judgment and whethe~ in juditist prOCeedmgs O~ otherwise, and also
~n,,se costs, expe~ses and ~easonable attWney's fees ir?curred in appellate p~oceedings: (2) waive presentme~t tor payment, demand, ~otice ot non-payme~t,
u.~c~ce ot protest and protest of this Note: (3) co~sent to and wawe notice ot any and all renewals or extensions of time, waivers, or modihcat~ons thai may be
.:~.,nied by ths Baink with respect to ihe payment w other prov~s~ons of this Note or to the release ol any Obligor o? the Co~~ateral or any part thereot, with or
~ ~nout substitution: and i4) agree that addrtional make~s, endorse~s, guarantors or sureties may betome pa?ties heteto without notiCe to them or at(ecting their
i~:,b~i~ty hersunder.
The Bank may s~ any t~me in its soie d~u~etio~ compromise, setde or extend the time of payment oi any ot the dema~ds a obl~gations, represented by a~y
o~ che sacurities pledged hereunder and a11 0l the parties liable for the payment hereo( hereby make, corutitute and appoint the Bank, his o? their true and lawful
,~!corney fo? this purpose w~th tull power and authority to compromise, settle or exte~d psyment of said dema~ds or obligations and to acquire, sahsty or dis-
~~argB lhE fart1Q 01 record or othervwse as the pxties liable fo? the payment or coUection hereof mght or could do i1 personally present. The Bank shall not be
~~~cier any liabiliry or obligation to take a~y steps whatsosver to tix any I~ability upo~ or to rn~~ect or to enforce payment of any obligatio~ p~edged as secu~~ty
ne~eunder wfiethe~ by giving any notite, p~esenting, demanding payment, protesUng, instituting witor othe?wiie.
The Bank shall not by any act ot omiu~on or commiu~o~ be deemed to waive any o( its rightt or remed~es hereunder unless such wa~ver shall be in writi~g
,rnf s~gned by the Bank a~d then only b the extent specit~cally set forth therein: a wa~ver on one eve~t shal: not be const~ued as continui~g or as a bar to or
.:,~~ver o( wch right or remedy on a subseque~i evem. -
The liab~lity o( eath Obl~gor shall be absolute ar?d untonditional and without regard to the liability ol any other party he~eto. Any notice shall be wlticient-
se~ved upon a~l Obl~gas by se~ving wch notice upon any one Obligor. The ~otice shall be suific~ently served ~t placed in the mail, postage prepa~d, addressed
u~ leit upon the premises ot any Obl~ga at any address shown on the Ba~k's records.
NOTICE: SEE OTHER SIOE FOR IMPORTANT INFORMATION
EACH MAKER ACKNOWLEDGES RECEIPT OF A CONFORMED COPY OF THIS NOTE ON THE ABOVE OATE.
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_ 2I8 L t~lax Dl' BI]~ 1 ISEAU '
ADDRE55 ! NE,?sUR~~ MAK '
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Lir~.~'ri~ ~ 3 Q~~~ + ISEAL) '
ADDRESS vrt~T18~ C~ F' Fns MAKER
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ENDORSEMENT
i i~ add+uon to ihe I~ab~lity as e~dorsers, whKh the u:?dersigned hereby assume, tor value re.-,eived and intending to be legally bound, the unde~signed (and if
~ ~~~:;~e ~han one, each of them jointly and severally) (a) hereby unconditionally gua~antee the payme~t of the within Note a~d all extensjons or renewals thereof '
.-c, all sums payable under or by virtue thereof inctuding, without limitation, alt amounts oi prirtcipal and inte~est and all expenses (including attorneNS' fees,
! ;.ne~her ~ncurred in tr~al a appetlate proceedings) ~ncurred in the coll¢~tion thereof, the enforcement oi rights thereunder or with respect to any securiry there-
~:,nd the entorcement hereoi, and wa~ve presentment, demand, notice of dishonor, protest, notice of protest and atl other notices whatsoever; and (b) consent "
~ ~~,d ag~ee that tbey are bound as Oblgors under the terrru of and are subject to all prov~sions set torth on the tact ot sa~d Note as fully as thou~h they were exh.
~ "."aker ihereot, and to the exerc~se by the hotder of each and every right there~n set forth or permitted by law, all wirthout ootice to or consent o~ a~d without
! ,}!ecting the liability of the undersigned, and furthe. rnruent and ag~ee that any of the undersgned may be wed by the holder he~eof with or without joining
~ ,~,v of the other endo.sers or Makers of said Note and without tirst o? contempaaneously wing any wch other persons, or otherwise seeking o? proceeding to
c~iect from them w a~y oi them.
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