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3. BANK stall have, but alter(( not be Irmrted to, the Idtovwng rights, each of whrd+ may be e¦acised at any time whtther or not this note is dw~ Isl to
pledge a transfer this note and tM Collateral, whereupon BANK shall be rNrewrf of au duties and respatsrbilrties herwndtr and retread (ran any and NI
I~abrlrty vetch respect to any Colls~taal W pledged Or trar?slsrred, and any pledgee a translNee shall for all purposes stand rn tM plate of BANK herwrtdN
and have all tM rrgltts of BANK herwrxMr: Ibl to transfer tM whole or any part of the pledged Collateral rnto the mama of itMlt or its ngrrtrrtae; Iel to
rrotrly the Obliges s on any Collateral to make payment to BANK of arty amounts dw a to wcome due thereon: Idl to demand, sw tor, t:OIMCt, a make
arty contpomtw or settlerttenl rt deems desirable vetch relerertee to 1M Cdlataal; ar?d le) to lake possessitln a contrd of any proaeds of tM Cdlateral.
4 BANK is tsweby preen a (rM upon and • saturrty interest in all property of each OWrgor now Or at any tune heraalter in ttta poNesstort of BANK in
any rapacity whatsoever, rnttudirg but not limned to any balance or share of cloy deposit, trust or agency account, as security fp tM paynNnt OI this
note, and ~ similar lien upon the security interest in all tarts poperty d each Maker as security for the payment of all outer liabilities of each Maker to
BANK and BANK tltall haw the soma rights ss to wtdt property as it has with respect to tlis Collateral pkaged by llte MAKER. S
5. 11 BANK deems itstN insetrrra or upon tM occurraixe Of any dafwlt herwnder, BANK shall haw all the remedies of a stttrre0 party under the
Unrlam Cortwtttrcial Code fa the State of Florida, and without lirrtitrrtg tM generality of the loregorrg, BANK alter(( have the right, at its option, and
without notice or demand, to declare the entire anwunt Of this note remainiq unpaid, and all other liabilities of any Oblige a arty of such Liabilities
selected by BANK, immediately due and payabN, less any unearned interest or oche. charges and ariy rebates required by law lit berrq tM inNntiat
hereof that under no circumstances shall BANK or any holder hereof bs •rttitled to receive at any tints any charges not allowed a permitted by law or i
any interest in excess of the maximum allowed by (awls to at df against this noM all money owed by BANK in any capacity to each or any Obligor. '
whether or not due, and also to set oft against all other liabilities of each Make w BANK all money owed by BANK ib any capacity to cads or swy Maker; ~
and BANK shall be deemed to haw exercised such right of set oft and to 1?ave made a charge against any such money immediately upon ttte otxwrenoa of
wch detwlt even though such charge is rnetle o. entered txt the books of BANK wbeegtient thereto. Unless 11?e Collateral is perishable or threaans to
decline speedily in valve or is of a type customarily sold on a rtcopnized market. 8AN16 will give MAKER reasonable notice of tM tints and places of any
public sale thereof or of .the time after which a private sale will bs held. The requirement of reasonable rtatice shall be met H such notice is mailed,postage
prepaid, to any Maker at the address given below a at txiy other address shown on the records o1 the BANK, at least ten 1101 days before the tints of the s
sale- Upon drtpasition of any Collateral after the occurrenq of ariy default herwrider, Oblgors shall be and roman liable for any rkficieixy, and BANK ;
shall account to MAKER for any surplus, but BANK shall have tM right to apply all or any part of such surplus for to hold the same as a reserve) against
any and all other liabilities of eeeh or any Maker to BANK.
6. No delay or omission tart tM part of BANK in exercising any rght hereunder shall operate as • vreiver W such rpht or of any rpht under Mis no1a. No
waiver shall be binding on BANK unless in a writing signed by an wthorized BANK otlit~r, and then Doty to the extent tpttifitally set forth tltarein.
Presentment, demand, protest and rrotiCe of dishonor. are hereby waived by each and every Obligor. The Obligors, jointly and snve.slly, promise and agrN,
to pay rn the event of a deiwlt, all costs sod expenps inverted in tM cdlection of this note, ini:ludirig attorney's fees aqua) to fen per cant (10x) of the
principal vein, or such Larger amount as may be reasonable and just, and also those costs, expernas and attorneys' ties inverted in appellete proceedings.
Alt nouns and pronouns contained in this instrument shall mNn end inchrds the plural as well ss fire tartgulsr, sod the mssculirie, ttminine and owlet
geritkr whenever and wherever tfte context so admits or requires.
7. Ead? Obligor hereby expressly consents to any and all extensions and renewals, in whole o? in part, and all delays in trine of payment or other
txrlwrriance which the holder hereof may gran[ Or permit at any time and from time to time without limitation, and without any noti~t to Or ttritlter
cunseni of any Oblgor. No action or inaction by BANK steal( discharge any party liable for the payment ftenof, and the liability of all wch parties shall
ontiiiue until sctwt payment rs recewed by the BANK. Without limiting the generality of the foregoing, the release a discharge of any Oblgor shall trot
rischarge any other Obligor, and tM release or impairment of Cdleteral, the taking of,a renewal note, for part a all of indebtedness ltarturtdfr, or a
change in the interest rate, shall not discharge any Obligor.
8. The BANK is authorized by stl Oblgors without notice to any of them to date this mote as of the day when the first disbursement Of the ban
ewdeneed hereby is rrtarle, and to till in any blank spaces herein to conform to the terms upon which ttie loan evidentxad hereby is made.
3. Both principal and interest on this promissory note are payable m lawful money of the United States of America without deduction far or on accoum
any presem or tuwre axes, duties or other charges Ivied or imposed on this note or the proceeds, rliaker or holder heraol by any gowrnnient, or any
instrumentality, wtltority or political subdivision thereof. Maker agrees upon the regwst of BANK to pay all Nrclt taxes, dunes and otMr charges in
addition to principal and interest on this promissory note, exdtrsive of United States income taxes and Florida inoonr taxes.
10. The BANK'S rghts herwnder end under any other security soreerttent or other writing or under applicable law shall be cirrrwlatiw. BANK at its
cptron may make wbstpwnt advances witlenced by this Notes, in which cant this Note shall remain wlid and enforgsble notwithtxartd'wg partial Or
total payment, reborrowirtg, or repayment of wins advanced herwrtder.
THE FOLLOWING PARAGRAPH ADDITIONALLY APPLIES TO ENDORSERS HEREOF. ,
sigrte rag legally bound, the urtdersgrted
~ In addition to the lWbitity as endorsers, which the under ~ d hereby aswnte, for value received and intends to be $
f aril if more than one, each Ot them jointly and severally) lest hereby become wrety to the payee of the within note, its wteessors, endorsees and assigns,
for the payment o) the within mote, and hereby uncoriditronally guarantee the payment of the within not! and all extMSrons Or renewals thereof and all
wins payable under or by virtw thered including, without IimiUtian, alt amounts Ot principal and mterest and s11 expenses (rriduding attorneys tees)
+ncurrM in the cdkctwn thereof, the enforcement of rights thereurxkr or with respect to any security therefor and the enlacement hereoi,arid waive
~ presentment, demand, notice of dishonor, protest and all other notices whatsoever; and Ib1 consent and agree lit that sM or any of the Collateral may W
i exchanged, released, surrendered or sold from time to time, iii) that the payment of the note, w any of the Liabilities of the Maker thereof may be
it r•xterufed or said note renewed any number of times and for arty period (whether or not longer than the organs( period o1 said note!, (iii) that its holder
i of said note may grant any releases, compromises or iridulgertoes with respect to said note or any extensions or renewals thereof or any starrity tlterelor
or to any party liable tttereurider Or hereunder (inchrdirig but not limited to (salute err refusal to exercise Otte Or more of the rights or remedies plOVided
by card motel, and (iv) that any of the provisions of said note may be modified; all without notice to a consent of and without aftectirg the liability of
the underspriecl as endorsers and wreties, and further Consent and agree that any of the undersgrted may be wed by tM holder with or without
lumirg any'of the other endorsers Or makers of said note and without first w contemporaneously wing any wch otter persons, or otherwise seeking or
prptledirg to collect from them oS any of them, end without fast Or conterrtporsneoushr undertaking to enforce any rights with respect to any ataurity.
i
ENDORSERS:
(SEAL) i
(SEAL) ,
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i
(SEAL)
Amount of
Oocuntentary Stamps _ ;
Required on this ftbM: )
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