HomeMy WebLinkAbout0791 llpon tM occurrenc~ 01 ~n ~wnt o( d~(wlt, tM Bsok may i~stitut~ sppropri~u IpN p~oce~din~ apsinst th~ Obtiyors to obtsin judpm~~t on tM Noa and/ ,
or ~x~rci~ iit ri9htf ~nd ~artwdia ~s a s~cured party undK th~ Florid~ Unifam Commucial Code a otMr ~pplicablt Isw. If tM 8ank has d~em~d itsNf ins~cure
or upo~ tM ottwr~nq ot an ~wnt of d~f~ult, th~ 8ank shsll have tM ripht, imrtwdiatNy a~d wiMout furthK action by it, to s~t oH spsinst this Note NI'monty
owed by tM 8ank in any cspxity to ~ach and snY Oblipor, and alw to sst off spainst slf oth~r iiabiliti~a oi ~ath Mak~r to ths Bank all mo~~y owtd by th~ Bs~k
~n any cspscity to each and sny Msker, and tM Bank thall b~ d~tm~d to h~v1 ~xKtiwd wch ~iq1~t of qt ofl and to hsve med~ s thsrqe apiintt any wth monty
~mmsdistely upon tht oaurrsna of wch d~fsult wen thou9h such chsr~ is rt~ad~ a tnte~ed on tM books oi tM Bank wbsequent tMrsto. Unlsss the Collat-
eral is pKishsbN or thrwitens to d~cline spadily in v~tue or is of a type tustomsrlly wW on s ncopniz~d trnrk~t, tM B~nk will qiw tM Nbke~ reaso~sble notit~
of tM timt ad plaa of a~y public ssk t1+Nw( or tM timt att~r which ~ny p~ivst~ saN or u~y otMr intended disposition thKwf is to b~ maJe. Th~ raquir~-
men~ of rsaon~bl~ notice sl+sll b~ m~e ii weh notip is mailsd. po:;a~e P?epaid. to sny Msker at the addrea give~ below a ~t any ocl?K add~su shown on ~he
recwas of tM Bsnk, at least 5 d~ys befon tM tims of the sal~ w disposition. l)pon disposition qf any Collateral after the occurre~ce oi any detault, tM j
Obligors sMll b~ snd remsin jointty ud s~v~rally liab{e tor a~y d~fic~ency. Tht Bank shall atcount to the Mak~r tor any wrplus but tM Bsnk sAsll haw tM ri9ht ~
~o apply dl or any put oi wch wrptus (a hold the sam~ as a resNVe sgsinst! sny and sll other lisbilities of each and a~y Obligcu to 1M Bank. TM Oblpas her~- ;
bv wvir. aiw riohts of rad~motion ~it~ ddault. ~ i
All p~rtiss liable tw ths payment and colleccion herwf: (t) agree to pay all exp~nses incur?ed w paid in the protection of Collateral or the en(ores~nent here- j
of, whetAer th~ Bank is obliqated 11?eretor w not, including attorney's fees equsl to 10~6of tM amount in deiault d such large~ amount as may be reasonaWe
tor servicea snd expens~s incur~ad in th~ eniorcement hereof eitha prior or wbseque~t to judyrnent snd whether in judicial proceedings w otl~erwise, and also
!hose costf. ~xpenset and reatonaWe attornty's tp~ incurred in appeUate proceedings: 1~1 waive pres~ntment to~ psymint, demand, notice ot non-payment,
~ocice of protat and protest of this Note; (3) conse~t to and wsive ~otice of any and sll renewals or extensio~s ot time, wsivsrs, w modifications that rr?sy bs
granted by th~ Banlc with respect to the payment w other p~ovisions of ihis Note or to the release ot any Obligor or the Collateral or sny psrt Mereof, with w
w~thout wbstitution; and (4) ag~ee that additionsl maken, endorsers, guarantors a sureties msy become ps*ties hereto without notice to them a affecting their
Iiability hfnYrKl~r.
Th~ Bar~lc maY st an•• time i~ its sole dis~~etion compromise, settle or exte~d the cime ot payment of a~y ot the demands or obligstions, represented by any
o( che sacuritias pladged Aereunder and all of the parties liable for the payment hereof hereby make, constitute and appoint the Bank, his a their uue and lawiul
attorney ior this purpose with tull power and authority to compromise, settb or extend paym~nt of said demands or obligations and to soquire, satisiy a dis-
charge ths same of rxord a otharwise as the parties liable for the payment or collection he~eo( might or could do it personally present. The Bank shall not be
under any liabilicy w obligatio~ to take a~y steps whatsoever to tiz a~y liability upon or to collect or to enforce payment of any obligation ptedged as security
nereunder whether by giving any notite, p?esenting, demanding payrt~t, Protesti~g, irutituting w~t or otherwise.
The Bank shall not by any act oi omiuion or commission be deemed to waive any of its ~ights or remediss hereurxier unleu such waiver shall be in writing
and signed by the Bank and then o~ly to the extent specifically set torth therein; a waiver on one event shall not be const~ued ss continuing or as a bar to or
wa~ver pf s,uch right ot rernady on a subSEquCnt 2vB~?t.
The liability of esch Obligor shall be absolute and unconditional and withoui regard to the liability of ~y oihe~ party hereto. Any notice shall be wfficient-
ly served upon all Obligws by serving suth notiCe upon any one Obligor. The notiCe shall be wfticie~Uy served if plaCed in the mail, postage prepaid, eddressed
co, o. lett upo~ the premises oi any Obligo? at any address shown on the Bank's recwds.
NOTICE: SEE OTHER SI~E FOR IMPORTANT INFORMATION
EACH MAKER ACKNOWLEDGES RECEIPT OF A CONFORMED COPY OF THIS NOTE ON THE ABOVE DATE.
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A~ORESS u_~~~ .~S• ~~e ~F RK :
19a A
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(SEAL)
ADDRE55 SIGNATURE OF MAKER
ENDORSEMENT
~ In additiun to the iiability as endorsers, wfiich the undersigned hereby assume, for value ~eceived and intending to be le9ally bound, the undersigned (and if
; mo~e than one, each of them jointly and severellyi (a) hereby unconditio~ally guarantee the payment of the within Note and all extensions o? renevrals thereof
f and all sums payable under or by virtue thereo( includirg, without limitation, all amounts of prinCipat and interest and atl expepses finCluding attorneys' fees,
~ ,vhether incurred in t?ial w appellate proceedings) incurred in the collection thereof, the enforcert~ent ot rights thereunder w with respect to any security the~r
~ fo~ and the enforcement hereof, and waive presentment, demand, notice of dishonor, protest, notice of protest and alI othe. notices whatsoever; and (b) consent
~ and agree tAat they are bound as Obligors under the terms of and are wbject to all provisions set forth o~ the fact of said Note as fulty as though tAey were esch i
~ a Plaker thereof, and to the exercise by.the holder ot each and every righc therein set torth or permitted by law, all without notice to or rnnsent of and without }
~ atfectirg the liability of. the urxfersigned, and further consent and agree that any of the undersigne.d rnay be wed by the hotde~ hereof wi[h or without joining 4
; any of the other endorsers or Makers oi said Note and without first o. contempwaneously wing any wch other persons, or otherwise seeking w proceeding to
~ co~lect from them or any of them. '
~
~
(SEAL)
AADRE55 SIGNATURE OF GUARANTOR '
~ ISEALI
ADURE55 SIGNATlJRE OF GUARANTOR
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