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HomeMy WebLinkAbout0085 . lipon tM octur~~nc~ of ~n ~nt ol d~fwU, tM 8ank r~sy ~mutut~ ~pproprwt~ ip~l procNdlnpt ap~msl th~ Oblpor? to obuin judprn~nt o~ tM Nou snd/ w~x~rc~w ~ts r~yAU and nm~d~ a ~ Wcur~d party undK tIN Fla~ Un~lam Commucial Cod~ o~ oth~~ ~ppticabl~ Iow. 11 tM Ba~k haf dMn?W it~11 ins~cur~ or upon tM otcwr~nq of an ~~10l dtf~ult, tM B~nk shall fuw tM rpht, ~mrt~l~~q~y ~nd withput lurthK action by it, to se~ olf ~~rqt thif Noq all mon~y owW by tM 8ank in any up~city to wch ~nd sny Oblpa, ~nd ~Ito to ~t otf ~im1 ~11 oth~r IiabilitiN o1 ~sch MakK to tM Bank ~II mon~y ow~d by tM Bsnk in any cap~city to Mch ~nd any IN~k~r, ~nd ths 8ank ~I?all b~ wtrtrd to h~w ~xKeh~d wch rqh~ ol wt oll u~d to Mw mad~ ~ chuq~ sp~i~t aoy wch mon~y imm~diatNy u~on tM oaurr~np of wch d~fwlt wM thou~ wch cha~y~ is or ~ntK~d on tM books of tM Bank wp~qwnt tMnto. Unl~a tM Co11~t- Kal a p~rishaW~ or thrMt~n~ to d~clin~ ~~dily i~ valw w is of a tYp~ tustortrr~ly sold on a r~oopnii~d mwk~t, tM 8a?k vwll piw tM Ma1cK rMwnabN ootiu i ol tM tim~ and plap of ~ny public WM thK~o1 w tM tim~ alt~r wl~id~ any priv~u ~aN a any otMr inttnd~d di~po~ition th~r~oi H to b~ m~1s. TM reqwrr mMt ol ~N{oMbq notlq ~hNl b~ m~t 11 tudl nOtip 1~ mNl~d. pO~tp~ Pr~paid. to any M~k~r at ~M ~ddr~ piven bNow a ~i ~ny o[ha addra~ ~how~ o~ ~M r~ad~ ot th~ 8~nk. at Na~t G d~y~ b~fort th~ tim~ Of iM MI~ o~ ditposition. Upa1 ditposition ol ~ery Collst~rsl sttN th~ otturr~np of any dtlsult. ~t~ Qblqas fhall b~ s~d r~m~in jantly ~nd wvaally li~bl~ for ~ny drticiency, TM Bsnk shall accou~~ ~o tM tN~k~r la any wrplus but tM B~nk ~hNl haw tM ~~yht to apply ~11 a u+y Wrt ol wch wrplut la hold tM win~ u a r~s~rv~ apainstl ~ny arwl all othN liabili~i~s o1 ~ach ard any Obligor to ~M Bank, TM Oblipors hera by vwiw any ripha o1 ndtmption dtM dN~ult. Al) p~ttiq liabb for tht paymMt ~nd COll~ttion 1Nr~of: (1) p?~e to psy ~II ~xqnies incurt~d or paid in tM prot~tlion ot Collattral w tf» ~n(oru(rNnt hN~- ot, whtthN tM B~nk is obliyaud ther~fa a not, includirq attan~y's f~ pual to 10%ot tM ~mount in d~lault a u,cfi Isry~r amount ~s may b~ raason~We (w wrvius and ~xp~ma incurr~d in tM enforprtrnt Mnoi ~itfi~r pria a wM~ywnt ~o iudqm~nt u~d wMthN in ~udKial prouedinp~ w otM~v+iise. snd ~Iw tAos~ cotts. ~xp~mM ~nd rpsonat~lt ~ttan~y's hp incutr~d in sppNlat~ proeNdinqs: (2) waiv~ prtt~ntrr~nt fa paYrr~nt, dtmand. notip of non-psVment, nouu of potat ~nd protea of tAis Noe~; (3) co~nt to M~d wsiv~ notiq ol any ~~d all rlrn~wals w~xtensions ol tinN, w~iv~n, w modit~catia+s thst msy b~ pra~~~d by tM BM+Ic with respect to tM psyment cx oth~. provnions of thu Note or to th~ rN~ of ~ny Oblipa w tM Collscenl w ~ny p~rt thenof, w~ih or w~ihow wbttitutian; ~nd (N apr~ that additan~l m~Icas, a+dor~s, p~snntors a wntia rtwy b~com~ partiu ha~to wiihout notio~ eo th~m w~ft~cti~y ~Mir lisbility MrwndN. TM Bank m~y at any tine in its sole diur~tion compromit~, settk or ex~tnd ~he time ot psyrtrnt o~ anY ot the d~mandt w obliqatiom, rKxt~t~d by any of the securitNt phdpsd ht~wnd~~ ~nd NI ot M~ puti~s I~abN for the paymtnt Mr~ol her~by msk~, corutitute and ~ppoint tM Bank, hi~ a tMir true and lawtul sttaney ta thit pwpoq witA lull povw and ~uthority to tompromiN, tsttl~ or ~xt~~d psyment oi qid d~rt?~ndi or obl`pitio~t and to aCquin, Wtnfy w dir cAarge th~ ~arrr of ~~cad a otMrwiN at th~ pa~1a Ii~bN fa the wvrtwnt or colllctio~ heraof mpht or could c1o ii perwnally pr~fent. Th~ B~nk shall no~ b~ under sny li~bility a obli~tion to tak~ sny stept whstswv~r to tix sny Iisbilicy upo~ or to coll~ct or to e~(orce payrt~ent of any oblqsuon plsdp~d as s~curity herwnd~r wMtha by qivinp sny notia. prtf~ntirq. d~rtrndnq payrne~t, prot~stinp, irqtitutinp wit a otMrwia. Th~ Bank sANI ~ot hy sny sct o~ amiuion w commiaion be d~emed to wa~v~ any of its ?ights or remsdirs hereunder unless tuch waiver shs~l bt in w.itinp a~d tipnd by tM 8ank se~d tAen only to th~ ext~nt ipscifit~lly set fath thersin; a vwivn on one event shall not b~ construed ss continuir?p w at a bar to w warver o( wCh rqht a rfm~dy On s iuDsequM! tvenL The lisb~lity ot acf~ Oblipor shall b~ sbwlutt a~d unconditional and withou~ rpsrd to the Iwb~lity ot any other psrty Mreto. Any notice shsll b~ wft~cient- ~Y ~?wd upo~ all Oblpaf by se~vin~ such nOtict upon aMl one Oblqw. Tl~e notice shall be w(liciently terwd il plac~d in the mail, postaye prepaid, addressed ~o, or tett upon ih~ premis~s ot :ny Obliga st any ar~dress shown on th~ Bsnk's records. . NOTICE: SEE OTHER SIOE FOR IMPORTANT INfORMATION ~ ~ EACH MAKER ACKNOWIEDGES RECEIPT OF A CONFORMEO COPY Of THIS NOTE ON TNE ABOVE DATE. j Lot i779 O.R.A. F.t. Z (SEAU X AODRE55 GNATURE OF MAKER aairh Co~~.~.~~~ Jeneen eeach ~ PJ. 334 57 (SEAL) x ADOHE55 n.~~l ~OtS1GfyATURE OF MAKER Cr iAn ~ - ENOORSEMENI' + In addi~ion to the liability as endasers. which the undersiq~cd herebv aswme. fw vatue +eceived and intendmg to be kgally bound, the undersipned (snd if more than one, sach of t1?em jointly snd severatly) la) nereby uncond~tionally gwrantee tha payment of the w+thin Note snd sll externions or renewals thereof a~d sll wms paysble under or by virtue thNeof including, without limitation, afl arnounts of printip~l and intsrat and all expenstt (including stto~neys fees, wheM~. incurrad in trisl o. appellats proceediny~) incurrod in ths collec~ion ~hereof, ~he entwcarnent of riphts thereunder a with respec~ to any acurity there- tw and tAe entorcement hKeof, and waivs pnsentment, demsnd, ~ocioe of dishonor, protest, notiet ot protest and slt other notias whatsoever; ~nd (b) conient arid syrN that iMy ue bound as Oblport under th~ terms of snd as wbject to all provisions wt forth on tM ~sct ot pid Note as tully ~s thaph th~y vw~e ~ach ~ a Make~ thereof, a~d to the ~xe~ciie by the holder ot e~ch uK! wery right there~n sst forth a permitted by Isw, all w~thout nouce to a conant oi snd without alfxtitq tM Itsbility ot th~ und~riigned, snd turther coraK~t and spr~e that any of che undertqned rn~y b~ wed by the hoid~r hereot with or without joinirq any oi the othtr ~~dwsers w Mskers of said Note snd without fir:t w concert~pwar+wusly wirg ~ny wch other persor?s, w otherwi~e seeking o~ proceeding to cotlact from them or a~y of them. tSEAU AOORE55 S~GNATVRE OF GUARANTOR ~sEAu ADORE55 SIGNATURE OF GUARANTOR ' ~ ~~~297 ~ 85 k % ' ~ . s'z~~ - ~ ~ ~yi . ` ' e ~ _ - ~ ~ ~ ' ~ _ ~ ~ : ~~-t.~..-~`~± ~"`r w:~:...... . . 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