HomeMy WebLinkAbout0955 . . ~-~,+,w•~~......,..~.. ' +~...Ma.~~`.ws~cin°e°aar+s.`.-"-'_.-
,i
. 'i=.
~
!i ihe variable intarCSt ral'e is nut ap{ilicab!e a~~d it this ~tote +s ~',ayobic un dun~.~nd, (ta~~k re~e~ves, •~~:d ~s hrrcl~y giont~til 1he r~yht, 1u ~!fjust the
~ ~nterest rate tron~ Ume to time by lumishing hleker with written riciu~e ui suth acl~usted ~ate, pr~v~ded, hcswttici, tl~:,t ~,o suc~i xijusted rate ihofl exceed
. the ~nuxnnuin ratu allo~vcd, Irorn time to tnnv. by I~r;~.
Additions to, reduct~ons or exchcmges oi, u[ subst~tuhans Icu tha Co~lal~ral, ~~:ryments on .x:cuun: of ti~~s ~oan or ~ncre~ws of ttae iurni•, ur uther
loans inalu p.irlicaily or wholly upan the Colla[c~sl, aiay I~out ti+~w tu U~ne, ~e mxie witt+uut a1lrcUn~ th~ pra~is~uns o1 tf~~s nute.
I( Oank de~~~ns ilself InSM:ure, or upuii ih~ ha}~pening o( any ot ~he tol~utiwny events. r.~th ~I ~yhfc!i sh~!1 c~r~slitute a dcfault hereunde:r, 311
liab~lities of each h1~k¢r lu [l~nk sha~l Ihereupun or lhereallet, at Ihe o{~tion ol Uank, y~ithoul rtot+ce n• dcir~uuel, ticco~ne du~: end {~~yat~le: !a) ia~lure of
~ any Obligor (wh~ch tarm shall oiean aeut i~iclude each rAak.~~, cndarset, su+aly a~,d 91~arantor u~ this note) tu p~iturm :~ny a9ree~nent hereu~ufer, to pay
~nterest hereon when due or reyucsted or demanded, or to pay any uther i~abil~ty whatsocver to [i,mk when due: il~) tiie death of any Otili9or, (cl the
i~ling ~1 any prtit~un undcr thu Uankruptcy Act, ar ~~iy sii~ul~~ federa! ur state statute, by ui a9.~inst any uGtrynr, l~N .~n :~;~{il~cat~on io! the appointrnent
of a receiver or tlie m:,kmg of a g~nerat ass;g,unent tor tl,e i~er~efit ot cre:l~tors by, ur the nisulvency uf any C)Llig:~e: icl thr entry ol ~ judymet~l against
, any Obligor; (1) the issuiiig of any wnt of attachniant ar writ ot ga~nishmt•nt, ur th~~ f~i~ng ui t~ny i~en, .39ainst ;he t,rcK,crtp ol any t}b!~qor~ (t3~ lhG iJ~(~I~9
oi pussessiur, of ary substantial pa~t of the pro~~crty of ~ny Obl~gor at the nst:~n~e ut any gov~rnn~enla' authurity: It~) ?hc d~ssoluhon, n~eryer, eonsr~tida-
tiu~, or reuiyaniiauu« ot any Obligo+; (i} the dss+g+iment ~y ac~y hi~ker ot ary t~;u~ty in 3rry ~~f lha Cotlatcr,7i w~thr>.~: t}~e wnlt`rn consent ul Eiank.
E3;snk is hereby gtvcn a lien upon an~f a secu~~ty ~ntcirst in a!! pro;icrty of cach Ob+:yo~ n~v: ~~r it ary t:m~~ heccaiter in ihe {~asiestsOa ul 6ank
~ in any cap:x:~[y ~vhats~:ver, includiny but not Ilmrttd to any balance ur st~are c,l any dcE~:~s~t, trust, ur ayent a~co.in; as s~:cur~ty I~~r the pay~~ent af ih~s
t~ote, ~ad a sstn:lar llen ~pon and secunly ~nteiCSt in a~l iuch property of each '.lakcr a; src~n:y lor Ihe paym:•nt uf aU u?hc•r iiab~I~Ues of eath hlake'
to t3:;nk {mcluding liabitities ot edd~ Make~ ~~~d 'dny Utt~er personl: a,x1 f3.inY, sha!~ have tl~~• sa~~~e <<yhts as to suc~: i;r:;~c,~cty o> !t has w~th ~espect to 11~e
i Collatcial. ~
~ ~1 (;~»Y. ~e~ms ilself i~ise~urg or ~~{iUt~ tht o~cu+~et~[e ut any clefauit liereuntlcr Bunk sh;~ll have 1he ~i•~n~d~es q1 ~ se~uretl party untler the
U~~~form Co~nincricai Cod~ ~nd, w~thout ~~~nit~ng the 9cner~!~ty o( tt+e lorego~ny, L)ank shai! have thc ~ight, ~mmcdr.+tely ~nd w~tihau~ tu~ttier action Uy ~t,
It~ set UI( u9ainst Ihis note all money o~ved by Sank in ~ny ca{iecity io ~t6ch or any Obl~gor, r~hether ur not du~•, ontt ats~r to set off agai:ut alf othei
f~abilities ot ea:h hiakrr ~o l3ank aIl money ow2d by llank in any capa::itY tu each or any hlaker, ar.ci E3ank ~hv~l be deemed tu have Bxl•lC3S[:i~ SuCh ~igt~t
ot :et ott and to have rnacie a chacgr aya~~tist any sucts :noney inuned~atuty uS~on the occnr+e~tte of zuch detault ~•vzn :haugt~ such a charg=_ is nixie or
entered un th~ books of Bank sut~sequent thereto. Unlrss the Col;~tera! is perisliable or thre:n~ns :o d~~cune s{~ecd~lt ~n v~`uc or ~s of a tys~e customarily
su!d on a recoyni:ed market, d~s~~~~sitiun thereof is to 6a ni;scle. Ttee reyuireme~~t oi ~easun.~b!e r.ut~ce shaL' t~a me; if such not~ce ~s ~n,,ited, posta,e pre-
~,a;d, tn any [:take~ at the address 9~ven hc~ein or at 2ny uther address s'~ov~n on ihe rrc-or~1s of u~i~ tl:~nk, at least Ir.e days belore ihe t~i~~e ui thr safr, or
' d~s{~c:,iUOn. Upo~~ dispusi[ion o( any Co1lateral a(tcr the otCurrer.ce of any defau3t hertunder, i~1a~.er shall bz end remain ~iat~`.~ to~ any deftciency; ar~d
f:anl. sha~l account tu Maker for any Su~p~us, but Elank shall have the right to a,~{~iy ai? or any {~art of Sucii surplu>!~! to ho-+cl !hc Same.a; a rescrve sgainst)
a~~y and aU othe+ S~abit~ty ot each oi any Aiaker to ~ank. The t~ht~gors, jo~.^.Sly :snei severa'.;y, prcrn;se anil ;,gree to i,;iy a~~ custs and expe~tises oi co!!ect~un
t and ~.:ae.onahle attu~neys' feef. :~~c!uding cnsts, experSeS and re~sonabte aiturru~yi' far.z Gn ap{~e1t, it coltect~:d Uy :~yal ~~iuceed:vi~s o~ tn~ou,L ~n attorn6y
at law. -
t3anh shall e.trreis~ reason;ble care in ihe custody a~~d prrse~vat~on o( the CUti~teral tu the extent rc~clui~eJ by ay{~i~cable st:,tute, and zhall b~
deeinud to have cxerc~std reazenabl~; care it ~t cakes such act~an lo~ that {~Urpose ~s Alaker sha11 :e~sonably rc~~uest :~i writing, but no orn~;sic~n t0 do , ny
xt not repues[ed by Mak+tr sha?I be dee:neet a fai~ure to exercii~ reasona~le care, and nu anus:iun to com;~F{ w~th'any requr.i( of `d3kec shatl v{ ii:_•tt
• t~e deem~~i a fai~u~e to exerc:~e reasonaUfe cars. Jank shaU not be 6ound tu take ~ny steps necessary to pre;erve arry c~yt~ts ~n the Coliaterai aga~nst pi~ur
f~a~t~es a~id h1,~ke~ st,,~!t take a!; necessaty zte~is ~ot sucti purNos~•S. Uank or ~ts r~em,n~.~ nerd r~ot cotlett +nt~~re±t on n: ~n~nc.{~a! nt any Coiiote~a! or give
: ~ny npt~~.e 1Yilh i~i(~eC! tU ~t. ~
tl~t Co:~~t~•ra! st~a~I di a,iy t~mc become u~~;:ft~SldCtO~y (0 Q.fri}:, ~.~:tk~t ;t:,il{ W~~f~~ri r~ti_ Cf~~~ tiltF:t (f~•;!'.Jr~.iS ~,:i•(fijE ~tii~ (~f'~)!.~5~t tiV~tt~ {j~it,k Ji
4,att ~t ihe Col;ate+a~ acfd,t~oc~l p~o;,erty ~vhici~ ~s sat~sf~ttory to k3ank.
Eian4: s'r~~fl h~ve ihe right, wh~ch may be ~xerc~s:~cl at any ume whethe! o: nut th,s nntc ~s t1ue, to nvGty th•r U1~~~s2.~r; on ar~y cotlateraf to make
payincnt t0 E3an1: an any ~:~iCUnts duc or [o become due thereon. In the ~vent uf any ~1~fIJUi1 hrr~~ur.cler, b~ni. Shall ih~r..~alter h's~e, Lut shail not i~e•
~ !mi~se.i tc,~, tne 1o'.IOtiti~ng ~~yhzs; 1~1 to ytedye or trar~sirr this nute arid tlie Cc;llaterai e*~~i Ltan~ ;h.~~l thereupon bc rei~~:ve<I c.: a!! duties ar.d respon>~4~lit~es
hereunder and rap~eved i!om ariy ar,d ~I! I~abdity with re;f~~_ct to a:iy Cotlat~r~t so ptrd~;e;i or trar,iteri~:d, a~zd any plrci,e.~ ur transteree st~ait for ai1 E~ur
{ po:es sL--.d fn the U!~~ce ~i pank hereu~xler and h~ic a;l the ~ights o1 Rank he~eundr_r, iul to var;frr tt~~~ whnfe r.r :~~r; p3ti t~f i~1C Coliatera! i:ito tti'r r.arne
i of ~tse7i or its nom~nee, (~~~1 to vote the Coilatera!: (~v1 to denranJ, Sue lor, collect, o+ rnakr ~ny com~~rorn~se or se':'e,n~_nt it deerns des+rable w~th refer-
encr ti~ ttie Co~late~a~; and (v~ to ta~~ controi ot any ptu:.ec<l; ot Coilatetal.
i N~ drl,~y or n~:i:s:wn on :he ~~a~t UI F3anL, in e~.er~,~iin_~ zany r:ghi t•,en,.ar,dcr sh.ill r~,:~.~a~<_ ds a w::~vrr ut .:,th r~~ht +r uf ;~ny other ~iyht ur,d~~
4 th~s nute. Hicsenlrncnt, dC~n:+nd, prut~•yt, irot~ce u} d:s:ioni;r, ,ind extCr,S~Un uf e~:ne v~~t!,:1,~± nut.c•t .~rc hereb`; ~•+a~:~`~1 Ly ~.:•:_ti and every Qbltgor. /Ln'/
• noUtr to ~.1al.er Shal: su(`:c~entty Sesve<S tor at4 p:~r~:o:ei ~1 piaced ir~ thE n~~;~i{, j~05!.~q„ prt{;~~. 1, "ad(1te5StC1 to ur Irlt u~~n:; tl ~~ren~ises at, the ~d:lrcil
~ ihov~n beli~w or a:tiy oNser a•,'dress z!~cwn on the E3~nk"s ~rcofi;s
; ~ GUARANTY -
t
In add~tusn to thr l~ab~t~ty as er,dorsers, ~vh~ch ihi uncl2fs~yned hareby assu~ne, tor va~~e r~ceriecl a~~d ~nte~:ding tol3e leqa'ty bound, ihe under~
a;~ned (and it more t1~a~i onc, exh ot tlieri~ jpintly ar.d severatly! la} P~ereby b?~omc surety to it~e payee of the v~iih~~~ nute•, its successors, endoraees
~ and assigns, (or the paymen[ 01 the +v~thin note, and heteby uncond~tionafly gua:antee tt~e ~,aycneni oE tt}~ •rr~thSti note anci aVi extens~ons or renevrafs
' the~eo{ ar~d a~~ surns pay::bh~ ur:dar or by vutue therao} inc~ud;ng, vnthout Gmitat~on, all am~wnts of ~~rinc~pa! a^d ~nterest and all expenses (~actudiny
zttor~~eys tees) i~cun~~d ~n the cutteeuon thereoi, the ertitorcernent oi rghb thereunder or with respect to an}• :ecurity the:efo~ and the enforcement +
€ he~eof, and wa~•.e presentmenc, dernarxl, r.otice ot d~shonor, t,rotett and all athe; not:ces w}~~isoever, artic3 (b~ cunieni a~,c! agree (J that a11 or anv ot thrz ~
~ Cullateral may be exchanqeA, rcleaseci, surfendered or so'd from time to ti;ne, 1~~1 thdt the payment ol ihe note, or any~of thG liab~iiti¢s nf thC hi.ker
[he~eof, may be exte~•dcd nr sa:d note ~enew~~cl 1m~ nuneber o( times and ter any periocl (whether ur not lonysr than the orig~nat perioci of said noc~),
(i~~) d~a~ th2 tiolder at s.~ict no:e ~»~Y qrant a~:y reteases, cunipiom:ses or indis+.gencCS r~ith respe5t to :a:d nute or any extens~ons or ~enewals th2ieof cr
2ny s.rcunty iherefor or to any party..liabl2 thereunde~ ur he~eunder (int;ludirs~ tut nr~~ tim~ted to ta~ture o! ~e(uss' to ~xercise ot;e o+ more o1 tt~e ri~hts
3 or rernedies providt~ hy said notel, and (rv) that any ot t~+e pruviswn; of sa~J note may be mc+l~tied; aI: w:thout rzut:ce :o or cnr~sent of and ~ithout
~ atfecting the liab+lity ot the ucrl>rs~g~~c<1 as en~ln:sers an~f sureties, and furthet eonsent and agree that any of ;he unders~gned may be sued by the holdar
"s_ hereo( w~ih or w~thout jouring any of the othe: indorsers or rnak¢rs of sa.d r~ote a~~d w~thaut first or t:onternpc;ianrovs!y su~ng any such other persons,
L or otFerwise Seek.ing or ~~roCeedin~ 10 CO'.Ii~C( (rpm them or 2ny o1 t~~rrn, drd wr!huut hri! or ccntem~,oraneousfy undrrtak~n~ to enforce any !tgh!s w~th
tespCCt to 3ny sr.LUrity. ~
i
' ~
i '
~
s ,
{ -
~ ~ {SEAL1
~ . ~
~ - {SEALt
~ ~ . ~~~x 376~ ~~~E ~54 ,
~ ~ - = a , ~ , ~ ~ •~i • et 3 - ~ - yr~~; > ,f
; ~ 1 . ? ~ ~ ~ . . ~ ,,wE . •y.. e .
+k i• ~.y 11 E~~ w ~t O 79 RF/ :
~ r.! r ~ f= 7~~ '
L.~~• . UQn~ ~.Iq~~' ?
}~A ~.C~ . _ . ~r~~: r ~.i . sI
~ ~ ,r _r, Yi-o~ ni•
, y% y<r .l _ ~ i, iti, 1 ~
~ t r~ ~ r r ~ j _ ~ ~ . . ,,r~ - ;
• ~.'~f+ ~ j F ~ ~ ~ ~ 'r . { . . _
7•. ' -i1 ~ ~ ~ • T ~ . . . 1,'=A _ '
~ , ~ ; ~ i.4..- .a~ ~ : .t~~ ~ <a• ~ '
' . ~ ~~i~V ~('t' ? ,(•~[siJt p I . ' ~ ~ . . ~a~` S~~yi.. L
• y t l ; , , J { M~'~.. . - .r~~ f li i ~ r.~ . ~ . *
l Y t
~C~~ , i . r , .?'i 'i
f~ { F Y ~ ~ 4~~4j ..d ° ~~j:~ - ; _ - : ' ~ . ~ J ~ ~ ~
~ t .~f. i ~~i E-~~~ j~~ ~ ! . . - ~ _ . , ji r ' . . i.. i.y :
:1~ tt ~ ~ ~.~`T ~r_zsie. . _ •"s~~r . . . . = S ~ I
J . ~ 3a_=_ .~.~zi
~ . . . . .