HomeMy WebLinkAbout1247 Upon tM occwrence of an event of defwlt, tM Bank may imticute appropiaa ksgal proaedirtgs against tM Oblga to obtain jtrdgrttertt on tM Note and/
or exerciea ip rights and remedies as a secured party urtdar tM Flaidn Uniform Commercial Code a other applicable law. If tM flank has deemed itsNl irgncun
or upon tM ooctsrrence of an event of default, tM Bank ehNl Mw tM right, immediately and without further action by it, to at oft ageirtst this Noa all money
owed by the bank in any opacity to each and any Obligor, and aiw to Mt off ageirtst sll other liabilities of each Maker to tM Bank MI matey owed by tM Bank
in arty Capacity to each and eny Maker, and tM flank shall be dnenwf co haw exacaad such rght d set OH and to havi made a dtarpa ageirNt any such money
immediately upon tM oecurrenq of such cNfsult etlen though each charge b made or entered on tM books d tM Bank syrbsequMt thereto. UMess tM Collat.
eral is perislteble Or thrNtens to decline tpeedily in wlue or is of • type customarily sold On a recognised market, tM Bank will give tM Maker rMtortabb notice
of tM time and place of any public sale thereof Or tM time attar which any prMa sale or any other intattded dapoehion thereof into be ntede. TM require-
ment of reaeonsble notice shall bn met if such notice a mailed. postage Prepaid, to any Maker at tM sddrea given below or at any other addrea shown on tM
recade of the Bank, at ktsst S days baton tM time of the ;ale or disposition. Upon disposition of any Cdlsteral after tM occurnnq of any default, tM
Obligors shNl bt and remain jointly and severally liable for any deficiency. TM Bank sMll account to tM Maker fa arty surplus but tM Bank shall have tM right
to apply spar any part of such surplus is hold tM some a a reserve against) any and all other liabilities of each and any Oblgor to tM Bank. The Obtigas Aere•
by vaiw. aArty right: of redemption after default.
pareses incurred or paid in the protection of Cdlateral or tM enforptrtent here-
I All ptutiee IfabM for tM payment and collection hereof: ltl spree to pay all ex
of, whetMr'tM Bank is obligated therefor or not, including attorney i fees equal to 10%of tM amount in default a sudt.larger amount as may be reasonable
for services and expenses incurred in tM enforcement Mreof titlttr prar a wbsnquent co judgment and wMtherN judicial proceedings a otherwise, and alao
those costs, expsrtsas and reasonable attartey's fee irtcwred in appellate procNdittgs; IZI waive presentment fa payment, demand, notice of non-payment,
notice of protest and protest of this Note; l31 consent to and waive notice of any and all rertnwsh a extensions of time, waivers, a modiligtions that may be
granted by tM Barllt with respect to tM payment or other provisions of this Nob a to tM release of any Obliges or tM Collateral a any part thereof, with a
wi chout substitution; and (e) spree chat additional makers, endorser:, guarantors or aunties may becattn parties hereto t+rithouc notice to them or stfecting tMir
liability Mnunder.
The Bang may st eny time in its soN disrntion conpranise, settN a extend ttte time of payment of arty of tM demands a oblyptions, represented by any
of the securities pNdged hereurxfer and all of the psKies IiabN for tM payment M?eof hereby make, constitute and appoint tM Bank, his or their true and lawful
attorney 1p? tt;ia purpose with toll power and authority to tompromiss, setth or extend payment o/ said demands or obligations and to aogtrin, satisfy a dis-
charge tM ssrrtn of record a otherwise as tM parties liable for tM payment or collection hereof mght or cook! do if personally present. TM Bank shall not bn
;,nder any liability Or obligation to take any steps whatsoever to fix any liability upon Or to rnlkset Or to enforce payment of any oblgation pkrdged as security
hereunder whether by giving any notion, presMtirtg, demanding payma?t, protesting, instituting suit a otherwise.
The Bank shaft not by any act of omission or commission be deemed to waive arty of its rghts a remedies hereunder unless such waiver sMll be in vwitirg
and sigrtsd by tM Bank and then only to tM extent specifically set forth therein; a waiver on one event shall not be COrtstrusd ss contirwirtg a a: a bar to a
waiver of itrch right or remedy On a subsequent event.
The liability of each Obligor shall be absolute and urtoortditional and without regard to tM liability of any other party hereto. Any notice shall be wfticient-
~y served upon all Obligors by serving such notice upon any ate Obligor. The notice shall be wfficiently served ii placed in the mail, postage prepaid, addressed
to, or left upon tM premises of any Obliges st any address shown on tM Bank's records.
NOTICE: SEE OTHER SIDE FOR IMPORTANT INFORMATION
EACH MAKER ACKNOWIEOGES RECEIPT OF A CONFORMED COPY OF THIS NOTE ON THE ABOVE DATE.
INl~ l31~1. ~iMla. ¦I. ~u ISEALf~~Li~~~i~f~//~- .L~77'~Z~Q~'~"
ADDRESS GNA U F MAKER
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AOORFSS - ~ I RE OF MAKER
ENDORSEMENT
In addition to the liability as endorsers, which the undersigned hereby assume, for value received and intending to be legally bound, tM unrkrsigned land if
more than one, each of them jointly and severally) lal hereby unconditionally guarantee tM payment of the within Note and all extensions a renewals thereof
and all waste payable under or by virtue thereof including, without limitation, all amounts of principal and interest and all expenses lirtcluding attorneys' fees,
whether incurred in trial or appellate proceedings) incurred in the collection thereof, the aniorcerrtent 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; and Ibl consent
and agree that they are bound as Obligors urtrler tM terms of and are wbject to all provisions set forth on the fact of said Note as fully as though they were each
a Maker thereof, and to tM exercise by tM holder of wclt and every right therein sec forth a permitted by law, all without notice to a coruent of and without
affecting 1M liability of tM undersigned, and further cortse~tt and agree that any of tM undersigned may be sued by tM holder hereof with a without joining
any of tM other endorsers a Makers of said Note and without first a conternporsneously wing arty such other persons, a otherwise seeking a proceeding to
collect from them O? any of them.
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