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HomeMy WebLinkAbout1762 Upat tM ooLYrfrertq of an event of default, tM Bank may institute sppropriaq IpN procNdirtgs against the Oblgon to obtain judgrrtertt On tM Note and/ or exercise its rphb and remedies as a secured party under tM Florida Uniform Commercial Code a otMr applit.abN law. It tM Bank has deemed itself insecure or upon tM otxurrenq of an event of default, tM Bank shall Mw tM right, immediately and without further action by it, to set oft agaiMt this Note all nWrtey owed by tfy Bank in arty capacity to each and sny Obligor, and also to set olf sgainst all other liabilities of each Make to tl>, Bank aU money owed by tM Bank .n sny capacity to each and any Maker, and tM Bank shall be deemed to haw exercised such rght of set off and to hew made a charge agsimt any such mort~y ~mmadtately upon tM oOCWrertte of such default even though Itrch cl?arge is made or entered on tM books of tM Bank wbsequent thereto. Unless tM Collat- eral is perishable or threatens to decline speedily in wlw a is of • type customarily sold on a recogrdted market, tM Bank will give tM Maker reasonable notice of the time end play of any public saN tMreof or tM time afar which any privaq sale or any other intended disposition thereof is to be made. TM require- ment of ressonat?N rotia stall be met if such notiq it mailed, postage prepaid, to any Maker at tM sddreu given Mlow or st sny other address shown pre tM records of the eertk, at least 5 days before tM time of tM saN or disposition. Upon disposition of anY Collateral after tM occurrence of any default, tM Obligors shell be and remain jointly and severally liabh for any defieiertcy. TM Bank shall account to tM Maker for sny wrplus but tM Bank shall haw tM right to apply ell Or any put of such surplus (or hold tM same as a reserve against) any and all othN liabilities of each and sny Obligor to tM Bank, TM Obligors here- ? by waive any rights of redemption suer default. 1 All parties liable for tM payment and collection hereof: i11 agree to pay all expenses incurred a paid in tM protection of Collstersl or tM enforosfnertt hire- ot, whether the Binlt is obligated therefor or not, including attorney's fees egwl to 10%of tM amount in default or such larger amount as may be reasonable for services and expertsas incurred in tM enforcement Mno1 eithtr prior or wbsequent to judgment and wftether in judicial proceedings Or otherwise, and ele0 rhose costs, expenses end reasonable attorney's fees incurred in appellate proceedings; !21 waive presentment for payment, derrtand, notice of rwn-payment. notice of protest and protest of this Note; !31 consent to end waive notip of any and cell rertsvwls o? extensions of time, vvaiwn, or madifications tMt may be granted by tM Bsdt with respect to the payment o? other provisions of this Note or to tM release of any Obligor or tM Collateral or sny part thereof, with or without substitution; and spree that sdditiortal makers, ertdprsers, guasntors or wreties may become parties hereto without notice to them o. effecting tltoir liability hareurtder. Thor Bank may st any tints in its sole discretion compromise, settle a extend tM tints of payment of any of tM dartsnds or oblpations, represented by arty of the securitNS pledged Mrwrtder and all of the parties liable for the payment Mreof Mreby make, COrtttituq and appoint tM Bank, his or their trw and IstNful attorney fo? this purpose with Lull power end authority to compromise, settle or extend payment of said demands or obligations end to acquire, satisfy Or dis- charge tM same of record or otherwise as tM parties liable for tM payment or collection hereof mght or could do i! personally present. TM Bank shell not be . unde? any liability Or obligation to take sny steps whatsoever to fix any liability upon or to colNct or to enforce payment of any obligation pledged as security hereunder whether by giving sny notice, presenting, demanding payment, protesting, instituting wit or otherwise. The Bank shall not by any act of omission or commission be deemed to waive any of its rights or remedies hereunder unless stxh waiver shall be in writing and signed by tM Bank and then only to the extent specifically set forth therein; a waiver on one event shall not be construed as continuing or as a bar to or waiver of wch right or remedy on a subsequent event. The liability of each Obligor shall be absolute and urteortditional and without regard to tM liability of any other party hereto. Any notice shall be wificient- iv served tr{wrt all Obligors by serwng wch notice upon any one Obligor. TM notice shall be wfficierttly served if placed in tM mail, postage Prepaid, addressed to, or left upon tM premises of any Oblgor at any address shown on the Bank's records. NOTICE: SEE OTHER SIDE FOR IMPORTANT INFORMATION EACH MAKER ACKNOWLEDGES RECEIPT OF A CONFORMED COPY OF THIS NOTE ON THE ABOVE DATE. i «S ~ ~ ISEAU ADDRESS 51 ATURE O AKER 1~a1N Cdr . ~Otk h>rka IlL~~. ~»1 (SEAL) ADDRESS ~s~*~ G~ N jT~RE~FL AkER ~ ENDORSEMENT In addition to the liability as endorsers, which the undersigned Mreby aswme, for value received and intending to be legally bound, the undersigned land if more than one, each of them jointly and severally) la1 Mreby unconditionally gwrantee tM payment of the within Note and all extensions or renewals thereof and all sums payable under or by virtue thereof including, without limitation, all amounts of principal and interest and all expenses lincltrding attorneys' fees, whether incurred in trial or appellate proceedirgs? incurred in the collection thereof, the enforcement of rights thereunder or with respect to any security there- for and tM enforcement hereof, and waive presentment, demand, notice of dishonor, protest, notice of protest and all other notices whatsoever; end Ibl consent and agree that they ere bound ss Obligors under tM terms of srd are wbject to all provisions set torch on tM tact of said Note as fully ss though they were each a Maker thereof, and to the exercise by tM holder of each and every right therein set forth or permitted by law, all without notice to or consent of and without affecting tM liability of the undersigned, and further consent and agree that any of the urxlersgned may be wed by tM holder hereof with or without joining any of tM other endorsers or Makers of said Note and without first or contemporaneously wing any wdt other persons, a otherwise seeking or proceeding to collect from them or any of them: i f ~ , i ISEAU ADDRESS SIGNATURE OF GUARANTOR i (SEAL) ADDRESS SIGNATURE OF GUARANTOR 3 l {1 tl S f t 1 1 3 ~~~3U4 ~176p - , ~ . r ~ ; '