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Home My WebLink About1956ADDITIONAL AOREEMENTS AND PROVISIONS V ~ _3 ~ I ~ ~ ? s ~~; v n L; ~ ~ ~ Bank sh~ll ~xKCis~ reasonabl~ can in tM custody and p~eM~v~tion of tM Co11~urN to tl-~ ~xtsnt rquird by applicabk satute, u+d ~11 ba dsNnod to haw ~xKCised ~e~sonabk c~~ if it taka wch actw~ for tA~t purpa~ a MakK iMll ~usonably nqusst i~~ writinp, but no omiuio~ to do sny att not requested by M~kK fball b~ d~em~d a failur~ t0 ~z~rtis~ n~onabl~ qn. N~d ~o Omission to tomply with any rpue~t of M~kN shall o( itselt be d~emed a tailuro io exercise ~e~sooabM cu~. Bank shall oot be bound to tak~ ~ny :teps nec~ssary ~o pressrve s~y ri9ha in the Coilate~s~ aysinsi pria parties and MskK shall t~k~ all n~cesssty stsps tor wcA purposes. Bank or its nominse need not collect interest an or Princip~l of sny Collatersl or pive any notic~ with nsqct to it. It th~ Coll~ttrsl sAsll at u~y tim~ p~com~ unsatist~ctory to 8ank, Maker shall within ons day aftar dsma~d pledps and dsposit with Bank a part of tM Co11~tK~1 additiorwl prop~-ty whid- is sstis(actory to Bank. Bs~k sMll h~w tM ~ipht, which m~y be exercised at u-y t:me whether o~ rat this noce is due, to notify the Oblipon on ~ny co!latersl to mske pwme~t to Bank on sny smou~ts dw or to bscome dw tMraa-. In the event of sny detault hereunde~~ Bank shall thereattsr havs, but sAstl not be limited to, the tollowinq riphts: (1) to pledps w trs~ster this r-ote and the Collateral and Bank shall ihereupw~ be ral:eved of ~II duties and rssponsibilities hereuntNr and retieval from any and all liability with respect to any Collateral so plsd9ed or trsnstsrred, snd any pledpse or iransteree shsll for all purposes stand in tlw place oi Bank hereundar and have all the riphts ot Bank hereundst; (2) to transter the whok or ~ny put of the Collateral ioto the nsme of itselt or its nominee;13) tovote ths Co~tsteal; (41 co demand, we to-. oollect, or mak~ any cort~omise or settlement it ds~ns d~sir~Dk with r~terenca to th~ Collsax~l; snd (6) to take posseuion and controt of any proosed~ ot Collatarsl. If Bank d~ems itself insecure, w upon the happeniny of ~ny of the followinp events, esch of which shall constitute a detsult hereunder, all liabitities ot each Makar to Bank shall thereupon w thereaiter, st tM option of Bank, without notice or demsnd, bscome due snd payeble; Is) lailure of any Obligw to perform any agree~+e~t hereunder, to pay in tull any instsllment payable hereunder {xomptly whe~ it bacomes due, or to pay any other liability whatsoever to Bank when due; (b) the desth o1 sny Obliyw; (t) the tili~p oi any petition under the Bankruptcy Act, a any similu federal or state statute, by or agsintt aey Obli9pr; (d) an spplication for the ~ppointment oi a receiver tor, ihe mskinp ot a qenersl suipnment for the benetit of creditors by, ot tAe insohretK.y ot any Oblgpr, (e) tM entry of a jud~ement spainst a~y Oblipw: (f~ the iswing of any vrrit of attachment or writ of garnishment. or the filin9 of any lie~, apainst any property of eny Oblipor, (y) the takinp of possessio~ oi any wbatantiN psrt of the property of any Obligor st the instsnce qi sny 9ovarnma~tal sucho~ity; (h) the dissolution, merycr, c.x~solidatio~, or reorpanizstion of sny Obliga; (~) ~he augnment by any Maker of any equity in any of ths Colbtersl without ths vircittsn oonsent of Bank. If at any time sny v~nnty, ~apresentation, te-tifipts or statement oi any Obligor (whetl-er oontained in this note w ~ot) pertaininp to or i~ connxtion with this note or the tosn or aedi~ evidenced by this note, is not true, or upon the Asppeninp of any avent of defwlt ss defined herein, or if Bank at any time feals insccuro for sny resson whstsoever; (i) tM entire amount of this note rem~ininp unpaid, less the amount ot any unearned interest or discaint and any robates required by law, shall become due snd payable forthwith or thereaiter at the option of the Benk and without notice or demand ( and in no event,and under no circumstances shall Bank or any holder Aereot be entitled hereur~de~ to unaccrued w une~ned interest or othar chsrges, and in no event and unde~ no circumstances shalt Bsnk or a~y holder hereof be entitled heteunde~ to reteive at any time any charges not allowed w permitted by Isw or any interest w interest rate in excess oi the Maximum ellowed by Isw); (ii) Bank msy, st its optio~, thereupon or there- after declare all other iiabitities, or ac-y of them selected by Bank (notwithstsndinp any provisioos thereof), irtwnedately due and psyabk without demand or ~otice of any kind (but with wch sdjustme~ts, if any, with respect to any interest or other charges as may be provided for in tM promiuory note or othe- writing evidencing wth lisbilityl; liii) 8ank shall tWVe and may exercise without demend any end a!1 the rights and remedia granted to a secured party upon dofeult undet the Uni(orm Commetciel Code or othetwise available to Bank lincluding those available under any rwitten instrument in addition to this note relating to any of the liabilities or any sewrity theretor) and, without limiting the generality of tAe forepoin~, Bank shall have the right, imrt~ediateiy end without turtAer sction by it, to set off apainst this note all money owed by Bank in sny capacity to eaeh ot any Obli~or, whether or not due, and also to set ofi sgainst all other liabilities of eath Mskar to Bank all money owetl by Bank in sny cspecity to esch or any Make~; and Bank shall be deemed to have exetcised wch right of setoff and to Aave made a charge agai~st any wth money irtunediately upon ihe oCCUrrence ot such defautt or other ayenc even thougA wch charge is msde or ente-ed on the books oi Bank wbsequent thereto; and (iv1 the Obligors, jointly and severally, promise and apres to pay all expenses of Bsnk in the collection of this note and in the entoroeme~t of rights hereunder a~d in the enforcement of rights under or with respect to any ot the Collateral, including reasonable attorneyi tees. Any proceeds of any Co1latersl or of any dispoaition of any Collaterel may be applied by Bank to the payment of expanses in connection with tl-e Collatenl, including reasonable attaneys' fees and legal expenses, including costs, expenses and reasonabte attorneys's tees on appesl. If any notititation of intendetl disposition of any of the Collateral is required by law, all requiremenu of ressonable notice shall be met, and wch notice shall be deemed properly give~, if at least five days before wch dispositio~ wch notice is served on the Maker in the manner hereina(ter provided. Upon disposition of any Coltateral Maker shall be and remain liable for any deficiency; srsd Bank shall account to Maker tor any wrplus, but Bank shsll hsve the right to apply all or any part of wch wrplus to the payment of any liabilitia whether. or not thsy, or any ot them, be then due, end in wch order of application as Bank may from time to time elect. No delay or omiuion on the part of Bank in exercising any right hereurwler shall operate as a waiver of wch riyht w of any other .ight under this note. If more than one party sfiall execute this note, the term °Maker" shall mean atl parties signing chis ~ote and each of tF-em, jointly and severaUy. As used herein, the singular shall inctude the plural and the plural shall mesn and include the singular; a~d a~y pronoun, of whatever gensler, shall include all genders. Any noticE to Maker shall be wfficienUy served for all purposes if ptaced in the mail, postage prepaid, addressed t6, w teft upon the premises at, the address shown hereon or any other address appearin~ on Bank's reoords_ In addition to the liability as indorsers, whicA the undersigned hereby asxume, tor ralue ~eceived and iniending to be legally bpund, the unde~signed (artd if more than one, esch of them joi~tly and seve~ally) (a) hereby become wrety to the payee ot the within note, its successon,endorsees and auigns, for the payment of the within note, and hereby unconditionatly guarantee the payment of the within note snd all extensions or renewals thereof and all sums payable under or by virtue thereof including, without limitation, all amounts of printipal and interest and all ezpet~ses (intluding attorneys fees) ~F~cur-ed in the coltection thereof, the enforcement of rights thasunder or with respect to any security therefor a~d tne enio.cart-ant hereof, and waive presantment, demand, ~otice ot dishonw, protest and a11 other notices whatsoever; and (b) oor-sent and agree (i) that att or sny of the Collateral may be exchanged, released, wrre~dered or sold from time to time, (ii) that the payment oi the note, or any of the liabitities ot the Maker thereof, may be ex- tended or said note renewcd any number of times and for any period (whether or ~ot longer than the original period oi said notel, (iii) that the holder of said note may grant any rel~ses, comp.omises or indulgences with respect to said note or any extensions or renewals thereoi or any security therefor or to any party Iiable thereunder or hereunder (including but not limited to failure or refusal to exercise one or more of the riphts or remed~es provided by said notel, and (iv) thst any oi the provisions of said ~ote may be modified; a11 without notice to or consent of and without aftecting the liability of the undersipned as indorsers and wreties, and furthe- consent and agree that any of ihe undersigned may be wed by the hofder hereof with or without ;oining any of thp other indorsers w makers of said note and without first or contemporaneously wing any wch other persons, or othervvise seeking or proceedi~g to co:lect from them or any of them, and without tirst or conter»poraneously undertaking to en(orce any righu with respect to any sncurity_ (SEALI =* ~J: ~ "All right, ti~le and interest of the undersigned is hereby assi~ned without warran is valid and enforceable against the borrower ~o William Rudge . r,~1'~Q1a~ BynLB~yr~~~~~.~ucie County ~ ° ~~ T i t le s~.~ ~, ~j1.~,a/ Dated: October 7, 1980 19g1 f E6 13 PN ~ 26 F1Lf0 FNf F~ Y ft J~~ S ac ~ER Poii Rns ~ CLERK CIRCI'1' ~~~ ~, ~ ^ ~[•- R ' ~~' ..~ XJ L ~ (SEAL) s~:.~ ~ . - ~,..~--: ~ ~: ~ ~ .~ , %~ ~ : "- -- ; ~ ~" ~~ • ~ ~ ,~ =. ~ ~ o ~=? .~~..~ - ` ,1~ _ ~ t `~ a~ . ~- ~ ti'~f'v~F;aj ~~.. ~ ~'''~•s.~~:s.. ~~.-~ MOT~IRY f1~lC AA1E OF 1li0R10tl1 AT t11~ Mr GOAIIMIiilON fAtRPL Ny-Y./~ 19A! ~Dt+lOEfl RitAl C~fl~ M6. {A~,SWVT~ ~~~K348 pa~i955 _, ~ ~-- --.~_ .~~~~