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HomeMy WebLinkAbout1694 1 t Upon tM orxwnnte of an event of Wlault, tM Bank may institua appropiaa legal proceedings apairat tM Oblpws to obtain judgment on tM Noa end/ ur exercise its rights and remedies es a secured perry undo tM Florida Unilam Commercial Code or oche. applicable law. If tM Bank Ms deemed ittNt insecure or upon tM occurrence of sn event of default, tM Bank shall Mw tM rpht, IIItfMdNtNy and Without fulthM action by it, to at oft apaimt the Note all money owed by tM flank in any capacity to eats and any Obligor, and also to set oft spairsst all other liabilities of each Maker to tM flank all money owed by tM Bank nn any capacity to each and any Makes, and tM Bank shMl be deemed to haw exercised sots right of set oft and to Mw made a Nsarpe apeirot any sots money immediately upon tM oaurrence of tuts default corn though tuts Marge y made or entered on tM books of tM Bank wbagwrtt thereto. Unless tM Cdlat• eras is pNisheble o? threatens to decline speedily in valor or h of a type customarily sold on a recognized market. tM Bank will give tM Mclean reasonable notice of tM time and piece of any public saN thereof a tM time after whits sny privaa sale a srty other Intended dapoaitbn thereof is to be made. TM require- ment of reesonable notice strati be met if usM notice is mailed, postage prepaid, to any Maker at tM address given below or at any other addrep shown on tM records of tM flank, at least 5 days Mfon tM time of tM ale or disposition. Upon disposition of any Collstersl after tM occurrence of any default, tM Obligors strati be ehd rintain jointly and severalty liable to any deficiency. TM Bank sMll account to tM Maker la any wrplus but tM Bank shell haw tM rpht to apply all or any pert of vets wrplus for hob tM ssrrte es • reserve against) any and all other liabilities of esM and any Oblgor to tM flank, The Obligors here- by waive any rights of redemption after default. Ati parties liable for tM payment and collection Mreof: l11 agree to pay all expenses incurred w paid in tM protection of Collatersl a tM entoroelnent here- of, whether tM flank is obligated tMr~for or not, including attorney's fees egwl to 10%of tM amount in deiwlt or vets larger smount es may be reasonsble for services and expenas incurred in tM entorrxment Mreof either prior Or wbsegwnt to judgment and whether in judicial proceedings or otherwia, and also tnose coats, expenses and reasonable sttaney's fees incurred in sppellate proceedings; l21 waive presentment fo. payment, demand, notice of nonpayment, notice of protest srd protest of this Notes: 131 consent to and waive notice of any and all rertewsb w extensions of time, waiver, or modifications that may be granted by tM Bank with respect to tM payment Or other provisions of this Noa or to tM roNase of sny Obligor or tM Collateral Or any part thereof, with or without substitution; .and 141 spree that additional maker, endorsers, guarantor or orreries may become parties Mreto without notice to them a affecting their Inability hereunder. The Bank may at any time in its sole discretion compromise, settle or extend tM time of payment of any of tM demands a oblipatioru, represented by any or the securities pNdged Mrwnder and all of Me parties liable for the payment Mreof Mraby make, constitute end appoint tM Bank, his or their trw and lawful attorney for.thls purpoa with full power and stitftoritY to contpromia, attic Or extend payment of aid demands or oblgstions and to soquire, atafy or dis- cnarge tM ame of record or otherwia es tM parties liable for tM payment or collection hereof mght or could do if personally present. TM Bank sMll not be under any liability or obligation to take any steps whatsoever to fix any liability upon or to collect or to enforce payment of sny obligation pNtlged es security ' hereunder wMthN by giving any notice, preeentinp, dernsndirg payment, Protesting, instituting wit Or otherwise. The Bank shall not by any act of omission a commission be deemed to waive any of its rights or remedies Mreunder unless tuts waiver sMll be in writing and signed by tM flank and then only to the extent spacitiglly at torch therein; a waiver on one event sMll not be construed es continuing or es a bar to a waiver of tuts rght or remedy on a wbsequent event. The liability of eatit Obligor shell be absolute and unconditional and without regard to tM liability of any oche. party hereto. Any notice shell be wfficient- [ ly served upon all Obligors by serving vets notice upon any one Obligor. TM notice sMll be wfticiently served it placed in tM melt, postage prepaid, addressed co, or left upon tM premises of any Obligor at aMr address shown on the Bank's records. NOTICE: SEE OTHER SIDE FOR IMPORTANT INFORMATION gi f EACH MAKER ACKNOWLEDGES RECEIPT OF A CONFORMED COPY OF THIS NOTE ON THE ABOVE DATE. ~ ~ '1 ~f~ ! 13% iiMl~tr< ~ ISEALI s f ' - ' ADORE55 ~ ~ _~SLGNATURE MAKER ~ (SEAL) ~i~ r ADDRESS SIGNATURE OF MAKER 3 f ENDORSEMENT In addition to the liability as endorsers, which tM undersigned hereby aswme, for value received and intending to be legally bound, tM undersigned land if more than one, each of them jointly end severally) (a1 Mreby unconditionally guarantee the payment of the within Note and all extensions a renewals thereof and all sums payable under or by virtw thereof including, without limitation, all amounts of principal and interest and all expenses (including attorneyi fees, :vherher incurred in trial or appellate proceedings) incurred in the collection thereof, the enforcement of rights thereunder or with respect to any security there- f for and tM enforeerrtent hereof, and waive presentment, demand, notice of dishonor, protest, notice of protest and all other notices whatsoever: and lbl consent and agree that they are bound as Obligors under tM terms of and are wbject to all provisions at forth on tM fact of said Note as fully as though they were eats a Maker thereof, and to tM exercise by tM holder of each and every right therein set forth or permitted by law, all without notice to of consent of and without affecting tM liability of the undersigned, and further eonant and agree that any of the undersigned may be wed by tM holder hereof with o? without joining ' any of tM Other endorsers o? Makers of said Non and without first or contempaaneousty wing any such other persons, or otherwise seeking or proceeding to a;llest from tMm or any of them. r (BEAU E ADORE55 SIGNATURE OF GUARANTOR ISEALI € ADDRESS SIGNATURE OF GUARANTOR c l ~ ~ i a F :3 t t 3~ 4 S ` r, ~ O dGuK ~ 2 Pq~f~6'c~ 4 .