SUCCESSOR INTERESTS. The terms of this Note shall be binding upon Borrower, and upon Borrower's heirs, personal representatives, successors and assigns, and shall inure to the benefit of Lender and its successors and assigns. NOTIFY US OF INACCURATE INFORMATION WE REPORT TO CONSUMER REPORTING AGENCIES. Please notify us if we report any inaccurate information about your account(s) to a consumer reporting agency. Your written notice describing the specific inaccuracy(ies) should be sent to us at the following address: The Leaders Bank X.X. Xxx 0000 Xxx Xxxxx, XX 00000-0000 GENERAL PROVISIONS. This Note is payable on demand. The inclusion of specific default provisions or rights of Lender shall not preclude Lender's right to declare payment of this Note on its demand. Lender may delay or forgo enforcing any of its rights or remedies under this Note without losing them. Borrower and any other person who signs, guarantees or endorses this Note, to the extent allowed by law, waive presentment, demand for payment, and notice of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor, accommodation maker or endorser, shall be released from liability. All such parties agree that Lender may renew or extend (repeatedly and for any length of time) this loan or release any party or guarantor or collateral; or impair, fail to realize upon or perfect Lender's security interest in the collateral; and take any other action deemed necessary by Lender without the consent of or notice to anyone. All such parties also agree that Lender may modify this loan without the consent of or notice to anyone other than the party with whom the modification is made. The obligations under this Note are joint and several. ILLINOIS INSURANCE NOTICE. Unless Borrower provides Lender with evidence of the insurance coverage required by Borrower's agreement with Lender, Lender may purchase insurance at Borrower's expense to protect Lender's interests in the collateral. This insurance may, but need not, protect Borrower's interests. The coverage that Lender purchases may not pay any claim that Borrower makes or any claim that is made against Borrower in connection with the collateral. Borrower may later cancel any insurance purchased by Lender, but only after providing Lender with evidence that Borrower has obtained insurance as required by their agreement. If Lender purchases insurance for the collateral, Borrower will be responsible for the costs of that insurance, including interest and any other charges Lender may impose in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance. The costs of the insurance may be added to Borrower's total outstanding balance or obligation. The costs of the insurance may be more than the cost of insurance Borrower may be able to obtain on Borrower's own. PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE. BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE. BORROWER: ADVANCED LIFE SCIENCES, INC. By: /s/ Xxxx X. Xxxxxx ------------------------------------------ Xxxx X. Xxxxxx, President of Advanced Life Sciences, Inc. [ILLEGIBLE] DISBURSEMENT REQUEST AND AUTHORIZATION Borrower: Advanced Life Sciences, Inc. Lender: THE LEADERS BANK 0000 Xxxxx Xxxxx 0000 XXXX XXXX, XXXXX 000 Xxxxxxxxx, XX 00000 XXX XXXXX, XX 00000 1000705 LOAN TYPE. This is a Variable Rate Nondisclosable Revolving Line of Credit Loan to a Corporation for $3,000,000.00 due on December 21, 2006. The reference rate (Leaders Bank Index Rate as periodically announced by The Leaders Bank, currently 5.250%) is added to the margin of 1.000%, resulting in an initial rate of 6.250. PRIMARY PURPOSE OF LOAN. The primary purpose of this loan is for: / / Personal, Family, or Household Purposes or Personal Investment. /X/ Business. SPECIFIC PURPOSE. The specific purpose of this loan is: working capital line of credit. REAL ESTATE DOCUMENTS. If any party to this transaction is granting a security interest in any real property to Lender and Advanced Life Sciences, Inc. is not also a party to the real estate document or documents (the "Real Estate Documents") granting such security interest, Borrower agrees to perform and comply with the Real Estate Documents just as if Borrower has signed as a direct and original party to the Real Estate Documents. This means Borrower agrees to all the representations and warranties made in the Real Estate Documents. In addition, Borrower agrees to perform and comply strictly with all the terms, obligations and covenants to be performed by either Borrower or any Grantor or Trustor, or both, as those words are defined in the Real Estate Documents. Lender need not tell Borrower about any action or inaction Lender takes in connection with the Real Estate Documents. Borrower assumes the responsibility for being and keeping informed about the property. Borrower also waives any defenses that may arise because of any action or inaction of Lender, including without limitation any failure of Lender to realize upon the property, or any delay by Lender in realizing upon the property. FLOOD INSURANCE. As reflected on Flood Map No. 170197 0065B dated 04-15-1982, for the community of DuPage County, some of the property that will secure the loan is not located in an area that has been identified by the Director of the Federal Emergency Management Agency as an area having special flood hazards. Therefore, although flood insurance may be available for the property, no special flood hazard insurance is required by law for this loan.
Appears in 2 contracts
Samples: Business Loan Agreement (Advanced Life Sciences Holdings, Inc.), Business Loan Agreement (Advanced Life Sciences Holdings, Inc.)
SUCCESSOR INTERESTS. The terms of this Note shall be binding upon BorrowerXxxxxxxx, and upon BorrowerXxxxxxxx's heirs, personal representatives, successors and assigns, and shall inure to the benefit of Lender and its successors and assigns. NOTIFY US OF INACCURATE INFORMATION WE REPORT TO CONSUMER REPORTING AGENCIES. Please notify us if we report any inaccurate information about your account(s) to a consumer reporting agency. Your written notice describing the specific inaccuracy(ies) should be sent to us at the following address: The Leaders Bank X.X. Xxx 0000 Xxx Xxxxx, XX 00000-0000 GENERAL PROVISIONS. This Note is payable on demand. The inclusion of specific default provisions or rights of Lender shall not preclude Lender's right to declare payment If any part of this Note on its demandcannot be enforced, this fact will not affect the rest of the Note. Lender may delay or forgo enforcing any of its rights or remedies under this Note without losing them. Borrower and any other person who signs, guarantees or endorses this Note, to the extent allowed by law, waive presentment, demand for payment, and notice of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor, accommodation maker or endorser, shall be released from liability. All such parties waive any right to require Lender to take action against any other party who signs this Note as provided in O.C.G.A. Section 10-7-24 and agree that Lender may renew or extend (repeatedly and for any length of time) this loan or release any party or guarantor or collateral; or impair, fail to realize upon or perfect LenderXxxxxx's security interest in the collateral; and take any other action deemed necessary by Lender without the consent of or notice to anyone. All such parties also agree that Lender Xxxxxx may modify this loan without the consent of or notice to anyone other than the party with whom the modification is made. The obligations under this Note are joint and several. ILLINOIS INSURANCE NOTICE. Unless Borrower provides Lender with evidence of the insurance coverage required by Borrower's agreement with Lender, Lender may purchase insurance at Borrower's expense to protect Lender's interests in the collateral. This insurance may, but need not, protect Borrower's interests. The coverage that Lender purchases may not pay any claim that Borrower makes or any claim that is made against Borrower in connection with the collateral. Borrower may later cancel any insurance purchased by Lender, but only after providing Lender with evidence that Borrower has obtained insurance as required by their agreement. If Lender purchases insurance for the collateral, Borrower will be responsible for the costs of that insurance, including interest and any other charges Lender may impose in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance. The costs of the insurance may be added to Borrower's total outstanding balance or obligation. The costs of the insurance may be more than the cost of insurance Borrower may be able to obtain on Borrower's own. PRIOR TO SIGNING THIS NOTE, BORROWER READ NOTE IS GIVEN UNDER SEAL AND UNDERSTOOD ALL IT IS INTENDED THAT THIS NOTE IS AND SHALL CONSTITUTE AND HAVE THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE. BORROWER ACKNOWLEDGES RECEIPT EFFECT OF A COMPLETED COPY OF THIS PROMISSORY NOTESEALED INSTRUMENT ACCORDING TO LAW. BORROWER: ADVANCED LIFE SCIENCESAMERICAN CONSUMERS, INC. DBA SHOP RITE By: /s/ Xxxxxxx X. Xxxxxxxxxx (Seal) By: /s/ Xxxx X. Xxxxxx ------------------------------------------ Xxxx (Seal) -------------------------------------- ---------------------------------------- XXXXXXX X. XxxxxxXXXXXXXXXX, President of Advanced Life Sciences, Inc. [ILLEGIBLE] DISBURSEMENT REQUEST AND AUTHORIZATION Borrower: Advanced Life Sciences, Inc. Lender: THE LEADERS BANK 0000 Xxxxx Xxxxx 0000 XXXX X. XXXX, XXXXX 000 XxxxxxxxxChief Financial Officer of AMERICAN CONSUMERS, INC. DBA SHOP RITE AMERICAN CONSUMERS, INC. DBA SHOP RITE PROMISORY NOTE -------------------------------------------------------------------------------- PRINCIPAL LOAN DATE MATURITY LOAN NO CALL/COLL ACCOUNT OFFICER INITIALS $56,000.00 07-25-2008 08-05-2013 452 086 -------------------------------------------------------------------------------- References in the boxes above are for Lender's use only and do not limit the applicability of this document to any particular loan or item. Any item above containing "- - - " has been omitted due to text length limitations. -------------------------------------------------------------------------------- BORROWER: AMERICAN CONSUMERS, INC. DBA SHOP RITE LENDER: GATEWAY BANK & TRUST 00 XXXXXX XXX XXXX XXXXXXXXX, XX 00000 0000 XXXXXXX XXX XXXXXXXXXXXXX, XX 00000 1000705 LOAN TYPE(000) 000-0000 ================================================================================ Principal Amount: $56,000.00 Date of Note: July 25, 2008 PROMISE TO PAY. This is a Variable Rate Nondisclosable Revolving Line of Credit Loan AMERICAN CONSUMERS, INC. DBA SHOP RITE ("Borrower") promises to a Corporation for $3,000,000.00 due on December 21, 2006. The reference rate pay to GATEWAY BANK & TRUST (Leaders Bank Index Rate as periodically announced by The Leaders Bank, currently 5.250%) is added to the margin of 1.000%, resulting in an initial rate of 6.250. PRIMARY PURPOSE OF LOAN. The primary purpose of this loan is for: / / Personal, Family"Lender"), or Household Purposes or Personal Investment. /X/ Business. SPECIFIC PURPOSE. The specific purpose of this loan is: working capital line of credit. REAL ESTATE DOCUMENTS. If any party to this transaction is granting a security interest order, in any real property to Lender and Advanced Life Sciences, Inc. is not also a party to the real estate document or documents (the "Real Estate Documents") granting such security interest, Borrower agrees to perform and comply with the Real Estate Documents just as if Borrower has signed as a direct and original party to the Real Estate Documents. This means Borrower agrees to all the representations and warranties made in the Real Estate Documents. In addition, Borrower agrees to perform and comply strictly with all the terms, obligations and covenants to be performed by either Borrower or any Grantor or Trustor, or both, as those words are defined in the Real Estate Documents. Lender need not tell Borrower about any action or inaction Lender takes in connection with the Real Estate Documents. Borrower assumes the responsibility for being and keeping informed about the property. Borrower also waives any defenses that may arise because of any action or inaction of Lender, including without limitation any failure of Lender to realize upon the property, or any delay by Lender in realizing upon the property. FLOOD INSURANCE. As reflected on Flood Map No. 170197 0065B dated 04-15-1982, for the community of DuPage County, some lawful money of the property that will secure United States of America, the loan is not located principal amount of Fifty-Six Thousand & 00/100 Dollars ($56,000.00), together with interest on the unpaid principal balance from July 25, 2008, until paid in an area that has been identified by the Director of the Federal Emergency Management Agency as an area having special flood hazards. Therefore, although flood insurance may be available for the property, no special flood hazard insurance is required by law for this loanfull.
Appears in 1 contract
SUCCESSOR INTERESTS. The terms of this Note shall be binding upon Borrower, and upon Borrower's heirs, personal representatives, successors and assigns, and shall inure to the benefit of Lender and its successors and assigns. NOTIFY US OF INACCURATE INFORMATION WE REPORT TO CONSUMER REPORTING AGENCIES. Please notify us if we report any inaccurate information about your account(s) to a consumer reporting agency. Your written notice describing the specific inaccuracy(ies) should be sent to us at the following address: The Leaders Bank X.X. Xxx 0000 Xxx Xxxxx, XX 00000-0000 GENERAL PROVISIONS. This Note is payable on demand. The inclusion of specific default provisions or rights of Lender shall not preclude Lender's right to declare payment of this Note on its demand. Lender may delay or forgo enforcing any of its rights or remedies under this Note without losing them. Borrower and any other person who signs, guarantees or endorses this Note, to the extent allowed by law, waive presentment, demand for payment, and notice of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor, accommodation maker or endorser, shall be released from liability. All such parties agree that Lender may renew or extend (repeatedly and for any length of time) this loan or release any party or guarantor or collateral; or impair, fail to realize upon or perfect Lender's security interest in the collateral; and take any other action deemed necessary by Lender without the consent of or notice to anyone. All such parties also agree that Lender may modify this loan without the consent of or notice to anyone other than the party with whom the modification is made. The obligations under this Note are joint and several. ILLINOIS INSURANCE NOTICE. Unless Borrower provides Lender with evidence of the insurance coverage required by Borrower's agreement with LenderUNDER OREGON LAW, Lender may purchase insurance at Borrower's expense to protect Lender's interests in the collateral. This insurance mayMOST AGREEMENTS, but need notPROMISES AND COMMITMENTS MADE BY US (LENDER) AFTER OCTOBER 3, protect Borrower's interests. The coverage that Lender purchases may not pay any claim that Borrower makes or any claim that is made against Borrower in connection with the collateral. Borrower may later cancel any insurance purchased by Lender1989 CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR PERSONAL, but only after providing Lender with evidence that Borrower has obtained insurance as required by their agreement. If Lender purchases insurance for the collateralFAMILY OR HOUSEHOLD PURPOSES OR SECURED SOLELY BY THE BORROWER'S RESIDENCE MUST BE IN WRITING, Borrower will be responsible for the costs of that insurance, including interest and any other charges Lender may impose in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance. The costs of the insurance may be added to Borrower's total outstanding balance or obligation. The costs of the insurance may be more than the cost of insurance Borrower may be able to obtain on Borrower's ownEXPRESS CONSIDERATION AND BE SIGNED BY US TO BE ENFORCEABLE. PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE THIS NOTE. BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE. BORROWER: ADVANCED LIFE SCIENCES, INC. Portland Brewing Company By: /s/ Xxxx Xxxxxxx X. Xxxxxx ------------------------------------------ Xxxx X. XxxxxxXxxxx, President President/CEO of Advanced Life Sciences, Inc. [ILLEGIBLE] DISBURSEMENT REQUEST AND AUTHORIZATION Borrower: Advanced Life Sciences, Inc. Lender: THE LEADERS BANK 0000 Xxxxx Xxxxx 0000 XXXX XXXX, XXXXX 000 Xxxxxxxxx, XX 00000 XXX XXXXX, XX 00000 1000705 LOAN TYPE. Portland Brewing Company ADDENDUM TO PROMISSORY NOTE This is a Variable Rate Nondisclosable Revolving Line of Credit Loan Addendum to a Corporation for $3,000,000.00 due on December 21, 2006. The reference rate Promissory Note (Leaders Bank Index Rate as periodically announced by The Leaders Bank, currently 5.250%"Addendum") is added attached to and by this reference made a part of the margin of 1.000%Promissory Note dated September 14, resulting in an initial rate of 6.250. PRIMARY PURPOSE OF LOAN. The primary purpose of this loan is for: / / Personal2001, Family, or Household Purposes or Personal Investment. /X/ Business. SPECIFIC PURPOSE. The specific purpose of this loan is: working capital line of credit. REAL ESTATE DOCUMENTS. If any party to this transaction is granting a security interest in any real property to Lender and Advanced Life Sciences, Inc. is not also a party to the real estate document or documents (the "Real Estate Documents") granting such security interest, Borrower agrees to perform and comply with the Real Estate Documents just as if Borrower has signed as a direct and original party to the Real Estate Documents. This means Borrower agrees to all the representations and warranties made in the Real Estate Documents. In addition, Borrower agrees to perform and comply strictly with all the terms, obligations and covenants to be performed by either Borrower or any Grantor or Trustor, or both, as those words are defined in the Real Estate Documents. Lender need not tell Borrower about any action or inaction Lender takes executed in connection with the Real Estate Documents. Borrower assumes the responsibility for being and keeping informed about the property. Borrower also waives any defenses that may arise because of any action or inaction of Lender, including without limitation any failure of Lender a Loan from Washington Mutual Bank doing business as Western Bank to realize upon the property, or any delay by Lender in realizing upon the property. FLOOD INSURANCE. As reflected on Flood Map No. 170197 0065B dated 04-15-1982, for the community of DuPage County, some of the property that will secure the loan is not located in an area that has been identified by the Director of the Federal Emergency Management Agency as an area having special flood hazards. Therefore, although flood insurance may be available for the property, no special flood hazard insurance is required by law for this loanPortland Brewing Company.
Appears in 1 contract
SUCCESSOR INTERESTS. The terms of this Note shall be binding upon Borrower, and upon Borrower's heirs, personal representatives, successors and assigns, and shall inure to the benefit of Lender and its successors and assigns. NOTIFY US OF INACCURATE INFORMATION WE REPORT TO CONSUMER REPORTING AGENCIES. Please notify us if we report any inaccurate information about your account(s) to a consumer reporting agency. Your written notice describing the specific inaccuracy(ies) should be sent to us at the following address: The Leaders Bank X.X. Xxx 0000 Xxx Xxxxx, XX 00000-0000 GENERAL PROVISIONS. This Note is payable on demand. The inclusion of specific default provisions or rights of Lender shall not preclude Lender's right to declare payment of this Note on its demand. Lender may delay or forgo enforcing any of its rights or remedies under this Note without losing them. Each Borrower understands and agrees that, with or without notice to Borrower, Lender may with respect to any other Borrower (a) make one or more additional secured or unsecured loans or otherwise extend additional credit; (b) alter, compromise, renew, extend, accelerate, or otherwise change one or more times the time for payment or other terms any indebtedness, including increases and decreases of the rate of interest on the indebtedness; (c) exchange, enforce, waive, subordinate, fail or decide not to perfect, and release any security, with or without the substitution of new collateral; (d) apply such security and direct the order or manner of sale thereof, including without limitation, any non-judicial sale permitted by the terms of the controlling security agreements, as Lender in its discretion may determine; (e) release, substitute, agree not to xxx, or deal with any one or more of Borrower's sureties, endorsers, or other guarantors on any terms or in any manner Lender may choose; and (f) determine how, when and what application of payments and credits shall be made on any other indebtedness owing by such other Borrower. Borrower and any other person who signs, guarantees or endorses this Note, to the extent allowed by law, waive any applicable statute of limitations, presentment, demand for payment, and notice of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor, accommodation maker or endorser, shall be released from liability. All such parties agree that Lender may renew or extend (repeatedly and for any length of time) this loan or release any party or guarantor or collateral; or impair, fail to realize upon or perfect Lender's security interest in the collateral; and take any other action deemed necessary by Lender without the consent of or notice to anyone. All such parties also agree that Lender may modify this loan without the consent of or notice to anyone other than the party with whom the modification is made. The obligations under this Note are joint and several. ILLINOIS INSURANCE NOTICE. Unless Borrower provides Lender with evidence of the insurance coverage required by Borrower's agreement with Lender, Lender may purchase insurance at Borrower's expense to protect Lender's interests in the collateral. This insurance may, but need not, protect Borrower's interests. The coverage that Lender purchases may not pay any claim that Borrower makes or any claim that is made against Borrower in connection with the collateral. Borrower may later cancel any insurance purchased by Lender, but only after providing Lender with evidence that Borrower has obtained insurance as required by their agreement. If Lender purchases insurance for the collateral, Borrower will be responsible for the costs of that insurance, including interest and any other charges Lender may impose in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance. The costs of the insurance may be added to Borrower's total outstanding balance or obligation. The costs of the insurance may be more than the cost of insurance Borrower may be able to obtain on Borrower's own. PRIOR TO SIGNING THIS NOTE, EACH BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. EACH BORROWER AGREES TO THE TERMS OF THE NOTE. BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE. BORROWER: ADVANCED LIFE SCIENCESRESOURCES CONNECTION, INC. By: /s/ Xxxx X. :________________________________________________ Xxxxxx ------------------------------------------ Xxxx X. Xxxxxx, President and CEO of Advanced Life SciencesResources Connection, Inc. [ILLEGIBLE] DISBURSEMENT REQUEST AND AUTHORIZATION Borrower: Advanced Life SciencesRESOURCES CONNECTION LLC By:________________________________________________ Xxxxxx X. Xxxxxx, Inc. Lender: THE LEADERS BANK 0000 Xxxxx Xxxxx 0000 XXXX XXXXPresident and CEO of Resources Connection LLC By:________________________________________________ Xxxxxxx X. Xxxxxx, XXXXX 000 Xxxxxxxxx, XX 00000 XXX XXXXX, XX 00000 1000705 LOAN TYPE. This Secretary of Resources Connection LLC ================================================================================ Customer # ____________ EXHIBIT A TO NOTE ----------------- THIS EXHIBIT is attached to and becomes a Variable Rate Nondisclosable Revolving Line part of Credit Loan to a Corporation for the $3,000,000.00 due on December 21, 2006. The reference rate (Leaders Bank Index Rate as periodically announced by The Leaders Bank, currently 5.250%) is added to the margin of 1.000%, resulting in an initial rate of 6.250. PRIMARY PURPOSE OF LOAN. The primary purpose of this loan is for: / / Personal, Family, or Household Purposes or Personal Investment. /X/ Business. SPECIFIC PURPOSE. The specific purpose of this loan is: working capital line of credit. REAL ESTATE DOCUMENTS. If any party to this transaction is granting a security interest in any real property to Lender and Advanced Life Sciences, Inc. is not also a party to the real estate document or documents 10,000,000 PROMISSORY NOTE (the "Real Estate DocumentsNote") granting such security interestdated August 22, Borrower agrees to perform 2001, executed by Resources Connection, Inc. and comply with the Real Estate Documents just as if Borrower has signed as a direct Resources Connection LLC ("Borrower") and original party made payable to the Real Estate Documentsorder of Bank of America, N.A. ("Lender"). This means Borrower agrees to all the representations Provisions in this Exhibit replace and warranties made supersede conflicting provisions in the Real Estate Documents. In addition, Borrower agrees to perform and comply strictly with all the terms, obligations and covenants to be performed by either Borrower or any Grantor or Trustor, or both, as those words are defined in the Real Estate Documents. Lender need not tell Borrower about any action or inaction Lender takes in connection with the Real Estate Documents. Borrower assumes the responsibility for being and keeping informed about the property. Borrower also waives any defenses that may arise because of any action or inaction of Lender, including without limitation any failure of Lender to realize upon the property, or any delay by Lender in realizing upon the property. FLOOD INSURANCE. As reflected on Flood Map No. 170197 0065B dated 04-15-1982, for the community of DuPage County, some of the property that will secure the loan is not located in an area that has been identified by the Director of the Federal Emergency Management Agency as an area having special flood hazards. Therefore, although flood insurance may be available for the property, no special flood hazard insurance is required by law for this loanNote.
Appears in 1 contract
Samples: Quarterly Report
SUCCESSOR INTERESTS. The terms of this Note Agreement shall be binding upon on the Borrower, and upon Borrower's ’s heirs, personal representatives, successors successors, and assigns, and shall inure to the benefit of be enforceable by Lender and its successors and assigns. NOTIFY US OF INACCURATE INFORMATION WE REPORT TO CONSUMER REPORTING AGENCIES. Please notify us if we report any inaccurate information about your account(s) to a consumer reporting agency. Your written notice describing the specific inaccuracy(ies) should be sent to us at the following address: The Leaders Bank X.X. Xxx 0000 Xxx Xxxxx, XX 00000-0000 GENERAL MISCELLANEOUS PROVISIONS. This Note Agreement is payable on demand. The inclusion of specific default provisions or rights of Lender shall not preclude Lender's ’s right to declare payment of this Note Agreement on its demand. Lender may delay or forgo enforcing any of its rights or remedies under this Note Agreement without losing them. Each Borrower understands and agrees that, with or without notice to Borrower, Lender may with respect to any other Borrower (a) make one or more additional secured or unsecured loans or otherwise extend additional credit; (b) alter, compromise, renew, extend, accelerate, or otherwise change one or more times the time for payment or other terms any indebtedness, including increases and decreases of the rate of interest on the indebtedness; (c) exchange, enforce, waive, subordinate, fail or decide not to perfect, and release any security, with or without the substitution of new collateral; (d) apply such security and direct the order or manner of sale thereof, including without limitation, any non-judicial sale permitted by the terms of the controlling security agreements, as Lender in its discretion may determine; (e) release, substitute, agree not to xxx, or deal with any one or more of Borrower’s sureties, endorsers, or other guarantors on any terms or in any manner Lender may choose; and (f) determine how, when and what application of payments and credits shall be made on any other indebtedness owing by such other Borrower. Borrower and any other person who signs, guarantees or endorses this NoteAgreement, to the extent allowed by law, waive presentment, demand for far payment, protest and notice of dishonor. Upon any change in the terms of this NoteAgreement, and unless otherwise expressly stated in writing, no party who signs this NoteAgreement, whether as maker, guarantor, accommodation maker or endorser, shall be released from liability. All such parties agree that Lender may renew or extend (repeatedly and for any length of time) this loan loan, or release any party or guarantor or collateral; or impair, fail to realize upon or perfect Lender's ’s security interest in the collateral; and take any other action deemed necessary by Lender without the consent of or notice to anyone. All such parties also agree that Lender may modify this loan without the consent of or notice to anyone other than the party with whom the modification is made. The obligations under this Note Agreement are joint and several. ILLINOIS INSURANCE NOTICE. Unless Borrower provides Lender with evidence If any portion of this Agreement is for any reason determined to be unenforceable, it will not affect the insurance coverage required by Borrower's agreement with Lender, Lender may purchase insurance at Borrower's expense to protect Lender's interests in the collateral. This insurance may, but need not, protect Borrower's interests. The coverage that Lender purchases may not pay any claim that Borrower makes or any claim that is made against Borrower in connection with the collateral. Borrower may later cancel any insurance purchased by Lender, but only after providing Lender with evidence that Borrower has obtained insurance as required by their agreement. If Lender purchases insurance for the collateral, Borrower will be responsible for the costs enforceability of that insurance, including interest and any other charges Lender may impose in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance. The costs of the insurance may be added to Borrower's total outstanding balance or obligation. The costs of the insurance may be more than the cost of insurance Borrower may be able to obtain on Borrower's own. PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE. BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE. BORROWER: ADVANCED LIFE SCIENCES, INC. By: /s/ Xxxx X. Xxxxxx ------------------------------------------ Xxxx X. Xxxxxx, President of Advanced Life Sciences, Inc. [ILLEGIBLE] DISBURSEMENT REQUEST AND AUTHORIZATION Borrower: Advanced Life Sciences, Inc. Lender: THE LEADERS BANK 0000 Xxxxx Xxxxx 0000 XXXX XXXX, XXXXX 000 Xxxxxxxxx, XX 00000 XXX XXXXX, XX 00000 1000705 LOAN TYPE. This is a Variable Rate Nondisclosable Revolving Line of Credit Loan to a Corporation for $3,000,000.00 due on December 21, 2006. The reference rate (Leaders Bank Index Rate as periodically announced by The Leaders Bank, currently 5.250%) is added to the margin of 1.000%, resulting in an initial rate of 6.250. PRIMARY PURPOSE OF LOAN. The primary purpose provisions of this loan is for: / / Personal, Family, or Household Purposes or Personal Investment. /X/ Business. SPECIFIC PURPOSE. The specific purpose of this loan is: working capital line of credit. REAL ESTATE DOCUMENTS. If any party to this transaction is granting a security interest in any real property to Lender and Advanced Life Sciences, Inc. is not also a party to the real estate document or documents (the "Real Estate Documents") granting such security interest, Borrower agrees to perform and comply with the Real Estate Documents just as if Borrower has signed as a direct and original party to the Real Estate Documents. This means Borrower agrees to all the representations and warranties made in the Real Estate Documents. In addition, Borrower agrees to perform and comply strictly with all the terms, obligations and covenants to be performed by either Borrower or any Grantor or Trustor, or both, as those words are defined in the Real Estate Documents. Lender need not tell Borrower about any action or inaction Lender takes in connection with the Real Estate Documents. Borrower assumes the responsibility for being and keeping informed about the property. Borrower also waives any defenses that may arise because of any action or inaction of Lender, including without limitation any failure of Lender to realize upon the property, or any delay by Lender in realizing upon the property. FLOOD INSURANCE. As reflected on Flood Map No. 170197 0065B dated 04-15-1982, for the community of DuPage County, some of the property that will secure the loan is not located in an area that has been identified by the Director of the Federal Emergency Management Agency as an area having special flood hazards. Therefore, although flood insurance may be available for the property, no special flood hazard insurance is required by law for this loanAgreement.
Appears in 1 contract
SUCCESSOR INTERESTS. The terms of this Note shall be binding upon Borrower, and upon Borrower's heirs, personal representatives, successors and assigns, and shall inure to the benefit of Lender and its successors and assigns. NOTIFY US OF INACCURATE INFORMATION WE REPORT TO CONSUMER REPORTING AGENCIES. Please notify us if we report any inaccurate information about your account(s) to a consumer reporting agency. Your written notice describing the specific inaccuracy(ies) should be sent to us at the following address: The Leaders Bank X.X. Xxx 0000 Xxx Xxxxx, XX 00000-0000 GENERAL PROVISIONS. This Note is payable on demand. The inclusion of specific default provisions or rights of Lender shall not preclude Lender's right to declare payment of this Note on its demand. Lender may delay or forgo enforcing any of its rights or remedies under this Note without losing them. Borrower and any other person who signs, guarantees or endorses this Note, to the extent allowed by law, waive presentment, demand for payment, and notice of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor, accommodation maker or endorser, shall be released from liability. All such parties agree that Lender may renew or extend (repeatedly and for any length of time) this loan or release any party part or guarantor or collateral; or impair, fail to realize upon or perfect Lender's security interest in the collateral; and take any other action deemed necessary by Lender without the consent of or notice to anyone. All such parties also agree that Lender may modify this loan without the consent of or notice to anyone other than the party with whom the modification is made. The obligations under this Note are joint and several. ILLINOIS INSURANCE NOTICE. Unless Borrower provides Lender with evidence of the insurance coverage required by Borrower's agreement with Lender, Lender may purchase insurance at Borrower's expense to protect Lender's interests in the collateral. This insurance may, but need not, protect Borrower's interests. The coverage that Lender purchases may not pay any claim that Borrower makes or any claim that is made against Borrower in connection with the collateral. Borrower may later cancel any insurance purchased by Lender, but only after providing Lender with evidence that Borrower has obtained insurance as required by their agreement. If Lender purchases insurance for the collateral, Borrower will be responsible for the costs of that insurance, including interest and any other charges Lender may impose in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance. The costs of the insurance may be added to Borrower's total outstanding balance or obligation. The costs of the insurance may be more than the cost of insurance Borrower may be able to obtain on Borrower's own. PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE. BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE. BORROWER: ADVANCED LIFE SCIENCES, INC. MONARCH CEMENT COMPANY By: /s/ Xxxx Xxxxxx X. Xxxx, Xx. Xxxxxx ------------------------------------------ Xxxx X. XxxxxxXxxx, Xx., President of Advanced Life Sciences, Inc. [ILLEGIBLE] DISBURSEMENT REQUEST AND AUTHORIZATION The Monarch Cement Company Borrower: Advanced Life Sciences, Inc. The Monarch Cement Company (TIN: 00-0000000) Lender: THE LEADERS BANK Bank of Oklahoma, N.A. 000 0000xx Xxxxxx Healthcare Banking - 0xx Xxxxx Xxxxxxxx, XX 00000-0000 Xxxxx Xxxxx X.X. Xxx 0000 XXXX XXXX, XXXXX 000 XxxxxxxxxXxxxx, XX 00000 XXX XXXXX, XX 00000 1000705 LOAN TYPE. This is a Variable Rate Nondisclosable Revolving Line of Credit Loan to a Corporation for $3,000,000.00 due on December 21, 2006PROMISE TO PAY. The reference rate Monarch Cement Company (Leaders "Borrower") promises to pay to Bank Index Rate as periodically announced by The Leaders Bankof Oklahoma, currently 5.250%) is added to the margin of 1.000%, resulting in an initial rate of 6.250. PRIMARY PURPOSE OF LOAN. The primary purpose of this loan is for: / / Personal, FamilyN.A. ("Lender"), or Household Purposes or Personal Investment. /X/ Business. SPECIFIC PURPOSE. The specific purpose of this loan is: working capital line of credit. REAL ESTATE DOCUMENTS. If any party to this transaction is granting a security interest order, in any real property to Lender and Advanced Life Sciences, Inc. is not also a party to the real estate document or documents (the "Real Estate Documents") granting such security interest, Borrower agrees to perform and comply with the Real Estate Documents just as if Borrower has signed as a direct and original party to the Real Estate Documents. This means Borrower agrees to all the representations and warranties made in the Real Estate Documents. In addition, Borrower agrees to perform and comply strictly with all the terms, obligations and covenants to be performed by either Borrower or any Grantor or Trustor, or both, as those words are defined in the Real Estate Documents. Lender need not tell Borrower about any action or inaction Lender takes in connection with the Real Estate Documents. Borrower assumes the responsibility for being and keeping informed about the property. Borrower also waives any defenses that may arise because of any action or inaction of Lender, including without limitation any failure of Lender to realize upon the property, or any delay by Lender in realizing upon the property. FLOOD INSURANCE. As reflected on Flood Map No. 170197 0065B dated 04-15-1982, for the community of DuPage County, some lawful money of the property that will secure United States of America, the loan is not located in an area that has been identified by the Director principal amount of the Federal Emergency Management Agency Ten Million & 00/100 Dollars ($10,000,000.00) or so much as an area having special flood hazards. Therefore, although flood insurance may be available for outstanding, together with interest on the property, no special flood hazard insurance is required by law for this loanunpaid outstanding principal balance of each advance. Interest shall be calculated from the date of each advance until repayment of each advance.
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SUCCESSOR INTERESTS. The terms of agreements in this Note Lease shall be binding upon Borrower, on Owner and upon Borrower's heirs, personal representatives, successors You and assigns, and shall inure on those who succeed to the benefit interest of Lender and its successors and assigns. NOTIFY US OF INACCURATE INFORMATION WE REPORT TO CONSUMER REPORTING AGENCIES. Please notify us if we report any inaccurate information about your account(s) to a consumer reporting agency. Your written notice describing the specific inaccuracy(ies) should be sent to us at the following address: The Leaders Bank X.X. Xxx 0000 Xxx Xxxxx, XX 00000-0000 GENERAL PROVISIONS. This Note is payable on demand. The inclusion of specific default provisions Owner or rights of Lender shall not preclude Lender's right to declare payment of this Note on its demand. Lender may delay or forgo enforcing any of its rights or remedies under this Note without losing them. Borrower and any other person who signs, guarantees or endorses this Note, to the extent allowed You by law, waive presentmentby approved assignment, demand for paymentsublet or by transfer. OWNER’S RULES – FORM PART OF THIS LEASE – SEE NEXT PAGE. TO CONFIRM OUR AGREEMENTS, OWNER AND YOU RESPECTIVELY SIGN THIS LEASE AS OF THE DAY AND YEAR FIRST WRITTEN ON PAGE 1. The undersigned Guarantor guarantees to Owner the strict performance of and notice observance by Tenant of dishonor. Upon any change all the agreements, provisions and rules in the terms attached Lease. Guarantor agrees to waive all notices when Tenant is not paying rent or not observing and complying with all of this Notethe provisions of the attached Lease. Guarantor agrees to be equally liable with Tenant so that Owner may xxx Guarantor directly without first suing Tenant. The Guarantor further agrees that his guaranty shall remain in full effect even if the Lease is renewed, changed or extended in any way and unless otherwise expressly stated even if Owner has to make a claim against Guarantor. Owner and Guarantor agree to waive trial by jury in writingany action, no party who signs this Noteproceeding or counterclaim brought against the other on any matters concerning the attached Lease or the Guaranty. Date Guarantor #1 Signature x SS# Print Full Name Date of Birth Print Address Driver’s License # State Date Issued Date Expires Date Guarantor #2 Signature x SS# Print Full Name Date of Birth Print Address Driver’s License # State Date Issued Date Expires
1 (a) Tenants shall not block or leave anything in or on fire escapes, whether as makerthe sidewalks, guarantorentrances, accommodation maker driveways, stairways, or endorser, halls. Public access ways shall be released from liability. All such parties agree that Lender may renew or extend (repeatedly used only for entering and for any length of time) this loan or release any party or guarantor or collateral; or impair, fail to realize upon or perfect Lender's security interest in leaving the collateral; Apartment and take any other action deemed necessary by Lender without the consent of or notice to anyone. All such parties also agree that Lender may modify this loan without the consent of or notice to anyone other than the party with whom the modification is made. The obligations under this Note are joint and several. ILLINOIS INSURANCE NOTICE. Unless Borrower provides Lender with evidence of the insurance coverage required by Borrower's agreement with Lender, Lender may purchase insurance at Borrower's expense to protect Lender's interests in the collateral. This insurance may, but need not, protect Borrower's interests. The coverage that Lender purchases may not pay any claim that Borrower makes or any claim that is made against Borrower in connection with the collateral. Borrower may later cancel any insurance purchased by Lender, but only after providing Lender with evidence that Borrower has obtained insurance as required by their agreement. If Lender purchases insurance for the collateral, Borrower will be responsible for the costs of that insurance, including interest and any other charges Lender may impose in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance. The costs of the insurance may be added to Borrower's total outstanding balance or obligation. The costs of the insurance may be more than the cost of insurance Borrower may be able to obtain on Borrower's own. PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE. BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE. BORROWER: ADVANCED LIFE SCIENCES, INC. By: /s/ Xxxx X. Xxxxxx ------------------------------------------ Xxxx X. Xxxxxx, President of Advanced Life Sciences, Inc. [ILLEGIBLE] DISBURSEMENT REQUEST AND AUTHORIZATION Borrower: Advanced Life Sciences, Inc. Lender: THE LEADERS BANK 0000 Xxxxx Xxxxx 0000 XXXX XXXX, XXXXX 000 Xxxxxxxxx, XX 00000 XXX XXXXX, XX 00000 1000705 LOAN TYPE. This is a Variable Rate Nondisclosable Revolving Line of Credit Loan to a Corporation for $3,000,000.00 due on December 21, 2006. The reference rate (Leaders Bank Index Rate as periodically announced by The Leaders Bank, currently 5.250%) is added to the margin of 1.000%, resulting in an initial rate of 6.250. PRIMARY PURPOSE OF LOAN. The primary purpose of this loan is for: / / Personal, Family, or Household Purposes or Personal Investment. /X/ Business. SPECIFIC PURPOSE. The specific purpose of this loan is: working capital line of credit. REAL ESTATE DOCUMENTS. If any party to this transaction is granting a security interest in any real property to Lender and Advanced Life Sciences, Inc. is not also a party to the real estate document or documents (the "Real Estate Documents") granting such security interest, Borrower agrees to perform and comply with the Real Estate Documents just as if Borrower has signed as a direct and original party to the Real Estate Documents. This means Borrower agrees to all the representations and warranties made in the Real Estate Documents. In addition, Borrower agrees to perform and comply strictly with all the terms, obligations and covenants to be performed by either Borrower or any Grantor or Trustor, or both, as those words are defined in the Real Estate Documents. Lender need not tell Borrower about any action or inaction Lender takes in connection with the Real Estate Documents. Borrower assumes the responsibility for being and keeping informed about the property. Borrower also waives any defenses that may arise because of any action or inaction of Lender, including without limitation any failure of Lender to realize upon the property, or any delay by Lender in realizing upon the property. FLOOD INSURANCE. As reflected on Flood Map No. 170197 0065B dated 04-15-1982, for the community of DuPage County, some of the property that will secure the loan is not located in an area that has been identified by the Director of the Federal Emergency Management Agency as an area having special flood hazards. Therefore, although flood insurance may be available for the property, no special flood hazard insurance is required by law for this loanBuilding.
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Samples: Apartment Lease
SUCCESSOR INTERESTS. The terms of this Note shall be binding upon Borrower, and upon Borrower's heirs, personal representatives, successors and assigns, and shall inure to the benefit of Lender and its successors and assigns. NOTIFY US OF INACCURATE INFORMATION WE REPORT TO CONSUMER REPORTING AGENCIES. Please notify us if we report any inaccurate information about your account(s) to a consumer reporting agency. Your written notice describing the specific inaccuracy(ies) should be sent to us at the following address: The Leaders Pacific Western National Bank X.X. P. 0. Xxx 0000 Xxx Xxxxx000000 Xxxxxxxx, XX 00000-0000 GENERAL PROVISIONS. This Note is payable on demand. The inclusion of specific default provisions or rights of Lender shall not preclude Lender's right to declare payment of this Note on its demand. Lender may delay or forgo enforcing any of its rights or remedies under this Note without losing them. Borrower and any other person who signs, guarantees or endorses this Note, to the extent allowed by law, waive any applicable statute of limitations, presentment, demand for payment, and notice of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor, accommodation maker or endorser, shall be released from liability. All such parties agree that Lender may renew or extend (repeatedly and for any length of time) this loan or release any party or guarantor or collateral; or impair, fail to realize upon or perfect Lender's security interest in the collateral; and take any other action deemed necessary by Lender without the consent of or notice to anyone. All such parties also agree that Lender may modify this loan without the consent of or notice to anyone other than the party with whom the modification is made. The obligations under this Note are joint and several. ILLINOIS INSURANCE NOTICE. Unless Borrower provides Lender with evidence of the insurance coverage required by Borrower's agreement with Lender, Lender may purchase insurance at Borrower's expense to protect Lender's interests in the collateral. This insurance may, but need not, protect Borrower's interests. The coverage that Lender purchases may not pay any claim that Borrower makes or any claim that is made against Borrower in connection with the collateral. Borrower may later cancel any insurance purchased by Lender, but only after providing Lender with evidence that Borrower has obtained insurance as required by their agreement. If Lender purchases insurance for the collateral, Borrower will be responsible for the costs of that insurance, including interest and any other charges Lender may impose in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance. The costs of the insurance may be added to Borrower's total outstanding balance or obligation. The costs of the insurance may be more than the cost of insurance Borrower may be able to obtain on Borrower's own. PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE. BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE. BORROWER: ADVANCED LIFE SCIENCESXXXXXXX-XXXXXX, INC. By: /s/ Xxxxxxx X. XxXxxxxx By: /s/ Xxxxxxx X. Xxxx --------------------------------------------- ------------------------------------------- Xxxxxxx X. Xxxxxx ------------------------------------------ Xxxx X. XxxxxxXxXxxxxx, President of Advanced Life Sciences, Inc. [ILLEGIBLE] DISBURSEMENT REQUEST AND AUTHORIZATION Borrower: Advanced Life Sciences, Inc. Lender: THE LEADERS BANK 0000 Xxxxx Xxxxx 0000 XXXX XXXX, XXXXX 000 Xxxxxxxxx, XX 00000 XXX XXXXX, XX 00000 1000705 LOAN TYPE. This is a Variable Rate Nondisclosable Revolving Line of Credit Loan to a Corporation for $3,000,000.00 due on December 21, 2006. The reference rate (Leaders Bank Index Rate as periodically announced by The Leaders Bank, currently 5.250%) is added to the margin of 1.000%, resulting in an initial rate of 6.250. PRIMARY PURPOSE OF LOAN. The primary purpose of this loan is for: / / Personal, Family, or Household Purposes or Personal Investment. /X/ Business. SPECIFIC PURPOSE. The specific purpose of this loan is: working capital line of credit. REAL ESTATE DOCUMENTS. If any party to this transaction is granting a security interest in any real property to Lender and Advanced Life Sciences, Inc. is not also a party to the real estate document or documents (the "Real Estate Documents") granting such security interest, Borrower agrees to perform and comply with the Real Estate Documents just as if Borrower has signed as a direct and original party to the Real Estate Documents. This means Borrower agrees to all the representations and warranties made in the Real Estate Documents. In addition, Borrower agrees to perform and comply strictly with all the terms, obligations and covenants to be performed by either Borrower or any Grantor or Trustor, or both, as those words are defined in the Real Estate Documents. Lender need not tell Borrower about any action or inaction Lender takes in connection with the Real Estate Documents. Borrower assumes the responsibility for being and keeping informed about the property. Borrower also waives any defenses that may arise because of any action or inaction of Lender, including without limitation any failure of Lender to realize upon the property, or any delay by Lender in realizing upon the property. FLOOD INSURANCE. As reflected on Flood Map No. 170197 0065B dated 04-15-1982, for the community of DuPage County, some Chairman of the property that will secure the loan is not located in an area that has been identified by the Director Board of the Federal Emergency Management Agency as an area having special flood hazards. ThereforeXxxxxxx X. Xxxx, although flood insurance may be available for the property, no special flood hazard insurance is required by law for this loan.Chief Financial Officer of Xxxxxxx-Xxxxxx,Inc. Xxxxxxx-Xxxxxx,Inc. ================================================================================
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SUCCESSOR INTERESTS. The terms of this Note shall be binding upon Borrower, and upon Borrower's heirshxxxx, personal representativesxersonal rexxxxxxxxtives, successors and assigns, and shall inure to the benefit of Lender and its successors and assigns. NOTIFY US OF INACCURATE INFORMATION WE REPORT TO CONSUMER REPORTING AGENCIES. Please notify us if we report any inaccurate information about your account(s) to a consumer reporting agency. Your written notice describing the specific inaccuracy(ies) should be sent to us at the following address: The Leaders Bank X.X. Xxx 0000 Xxx Xxxxxof the West P. 0. Box 61000 Truckee, XX 00000-0000 CA 96160 GENERAL PROVISIONS. This Note is payable on demand. The inclusion of specific default provisions or rights of Lender shall not preclude Lender's right to declare payment of this Note on its demand. Lender may delay or forgo enforcing any of its rights or remedies under this Note without losing them. Borrower and any other person who signs, guarantees or endorses this Note, to the extent allowed by law, waive presentment, demand for payment, and notice of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor, accommodation maker or endorser, shall be released from liability. All such parties agree that Lender may renew or extend (repeatedly and for any length of time) this loan or release any party or guarantor or collateral; or impair, fail to realize upon or perfect Lender's security interest in the collateralxxx xxllateral; and take any other action deemed necessary by Lender without the consent of or notice ox xxxxce to anyone. All Al) such parties also agree that Lender may modify this loan without wixxxxx the consent of or notice to anyone other than the party with whom the modification is made. The obligations under this Note are joint and several. ILLINOIS INSURANCE NOTICE. Unless Borrower provides Lender with evidence of the insurance coverage required by Borrower's agreement with Lender, Lender may purchase insurance at Borrower's expense to protect Lender's interests in the collateral. This insurance may, but need not, protect Borrower's interests. The coverage that Lender purchases may not pay any claim that Borrower makes or any claim that is made against Borrower in connection with the collateral. Borrower may later cancel any insurance purchased by Lender, but only after providing Lender with evidence that Borrower has obtained insurance as required by their agreement. If Lender purchases insurance for the collateral, Borrower will be responsible for the costs of that insurance, including interest and any other charges Lender may impose in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance. The costs of the insurance may be added to Borrower's total outstanding balance or obligation. The costs of the insurance may be more than the cost of insurance Borrower may be able to obtain on Borrower's own. PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS AXX XXX XROVISIONS OF THIS NOTE, . INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTEXXX XXXE. BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE. BORROWER: ADVANCED LIFE SCIENCESELDORADO ARTESIAN SPRINGS, INC. By: /s/ Xxxx X. Xxxxxx ------------------------------------------ Xxxx X. By:/s/Douglas A. Larson Douglas A. Xxxxxx, President Xxxxxxxxx of Advanced Life SciencesXxxxxxxx Xxxxxxxn Springs, Inc By:/s/Kevin M. Sipple Kevin M. Sippxx, Xxxxxxxxx xf Exxxxxxx Xxxxxxxn Springs, Inc By:/s/Jeremy S. Martin Jeremy S. Maxxxx, Xxxx Xxxxxdenx xx Xxxxxxxx Xxtesian Springs, Inc CORPORATE RESOLUTION TO BORROW / GRANT COLLATERAL Principal Loan Date Maturity Loan No Call / Coll Account Officer Initials --------------------------------------------------------------------------------------------------- $1,421,000.00 08-21-2001 08-24-2026 3600039904 01 --------------------------------------------------------------------------------------------------- References in the shaded area are for Lender's use only and do not limit the applicability of this document to any particular loan or item. Any item above containing "***" has been omitted due to text length limitations. Borrower: Eldorado Artesian Springs, Inc. [ILLEGIBLE] DISBURSEMENT REQUEST AND AUTHORIZATION Borrower(TIN: Advanced Life Sciences84-0907853) P.O. Box 000 Eldorado Springs, CO 80025 Lender: Bank of the West Secondary Marketing 10181 Truckee Airport Road X.0. Xxx 00000 Truckee, CA 96160 I, THE UNDERSIGNED, DO HEREBY CERTIFY THAT: THE CORPORATION'S EXISTENCE. The complete and correct name of the Corporation is Eldorado Artesian Springs, Inc. Lender: THE LEADERS BANK 0000 Xxxxx Xxxxx 0000 XXXX XXXX, XXXXX 000 Xxxxxxxxx, XX 00000 XXX XXXXX, XX 00000 1000705 LOAN TYPE("Corporation"). This The Corporation is a Variable Rate Nondisclosable Revolving Line corporation for profit which is, and at all times shall be, duly organized, validly existing, and in good standing under and by virtue of Credit Loan to a Corporation for $3,000,000.00 due on December 21, 2006the laws of the State of Colorado. The reference rate (Leaders Bank Index Rate Corporation is duly authorized to transact business in all other states in which the Corporation is doing business, having obtained a)) necessary filings, governmental licenses and approvals for each state in which the Corporation is doing business. Specifically, the Corporation is, and at all times shall be, duly qualified as periodically announced by a foreign corporation in all states in which the failure to so qualify would have a material adverse effect on its business or financial condition. The Leaders BankCorporation has the full power and authority to own its properties and to transact the business in which it is presently engaged or presently proposes to engage. The Corporation maintains its principal office at 1783 Dogwood St., currently 5.250%Louisville, XX. Xxxxxx xxx Xxxxxxxxxxx xxs designated otherwise in writing, this is the principal office at which the Corporation keeps its books and records. The Corporation will notify Lender prior to any change in the location of the Corporation's state of organization or any change in the Corporation's name. The Corporation shall do a)) is added things necessary to preserve and to keep in full force and effect its existence, rights and privileges, and shall comply with all regulations, rules, ordinances, statutes, orders and decrees of any governmental or quasi-governmental authority or court applicable to the margin of 1.000%, resulting in an initial rate of 6.250. PRIMARY PURPOSE OF LOAN. The primary purpose of this loan is for: / / Personal, Family, or Household Purposes or Personal Investment. /X/ Business. SPECIFIC PURPOSE. The specific purpose of this loan is: working capital line of credit. REAL ESTATE DOCUMENTS. If any party to this transaction is granting a security interest in any real property to Lender Corporation and Advanced Life Sciences, Inc. is not also a party to the real estate document or documents (the "Real Estate Documents") granting such security interest, Borrower agrees to perform and comply with the Real Estate Documents just as if Borrower has signed as a direct and original party to the Real Estate Documents. This means Borrower agrees to all the representations and warranties made in the Real Estate Documents. In addition, Borrower agrees to perform and comply strictly with all the terms, obligations and covenants to be performed by either Borrower or any Grantor or Trustor, or both, as those words are defined in the Real Estate Documents. Lender need not tell Borrower about any action or inaction Lender takes in connection with the Real Estate Documents. Borrower assumes the responsibility for being and keeping informed about the property. Borrower also waives any defenses that may arise because of any action or inaction of Lender, including without limitation any failure of Lender to realize upon the property, or any delay by Lender in realizing upon the property. FLOOD INSURANCE. As reflected on Flood Map No. 170197 0065B dated 04-15-1982, for the community of DuPage County, some of the property that will secure the loan is not located in an area that has been identified by the Director of the Federal Emergency Management Agency as an area having special flood hazards. Therefore, although flood insurance may be available for the property, no special flood hazard insurance is required by law for this loanCorporation's business activities.
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SUCCESSOR INTERESTS. The terms of this Note shall be binding upon Borrower, and upon Borrower's heirs, personal representatives, successors and assigns, and shall inure to the benefit of Lender and its Lender's successors and assigns. NOTIFY US OF INACCURATE INFORMATION WE REPORT TO CONSUMER REPORTING AGENCIES. Please notify us if we report any inaccurate information about your account(s) to a consumer reporting agency. Your written notice describing the specific inaccuracy(ies) should be sent to us at the following address: The Leaders Bank X.X. Xxx 0000 Xxx Xxxxx, XX 00000-0000 GENERAL PROVISIONS. This Note is payable on demand. The inclusion of specific default provisions or rights of Lender shall not preclude Lender's right to declare payment of this Note on its demand. Lender may delay or forgo enforcing any of its rights or remedies under this Note without losing them. Borrower and any other person who signs, guarantees or endorses this Note, to the extent allowed by law, waive any applicable statute of limitations, presentment, demand for payment, and notice of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor, accommodation maker or endorser, shall be released from liability. All such parties agree that Lender may renew or extend (repeatedly and for any length of timelime) this loan or release any party or guarantor or collateral; or impair, fail to realize upon or perfect Lender's security interest in the collateral; and take any other action deemed necessary by Lender without the consent of or notice to anyone. All such parties also agree that Lender may modify this loan without the consent of or notice to anyone other than the party with whom the modification is made. The obligations under this Note are joint and several. ILLINOIS INSURANCE NOTICE. Unless Borrower provides Lender with evidence of the insurance coverage required by Borrower's agreement with Lender, Lender may purchase insurance at Borrower's expense to protect Lender's interests in the collateral. This insurance may, but need not, protect Borrower's interests. The coverage that Lender purchases may not pay any claim that Borrower makes or any claim that is made against Borrower in connection with the collateral. Borrower may later cancel any insurance purchased by Lender, but only after providing Lender with evidence that Borrower has obtained insurance as required by their agreement. If Lender purchases insurance for the collateral, Borrower will be responsible for the costs of that insurance, including interest and any other charges Lender may impose in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance. The costs of the insurance may be added to Borrower's total outstanding balance or obligation. The costs of the insurance may be more than the cost of insurance Borrower may be able to obtain on Borrower's own. PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE. BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE. BORROWER: ADVANCED LIFE SCIENCESCHICAGO PIZZA & BREWERY, INC. By: /s/ Xxxx X. Xxxxxx ------------------------------------------ Xxxx X. XxxxxxERNEST T. KLINGER, President PRESIDENT XX XXXXXXX XXXXX & BREWERY, INC. ADDENDUM "A" LIBOR/RATE ADDENDUM This Addendum A is attached to and made a part of Advanced Life Sciences, Inc. [ILLEGIBLE] DISBURSEMENT REQUEST AND AUTHORIZATION Borrower: Advanced Life Sciences, Inc. Lender: THE LEADERS BANK 0000 Xxxxx Xxxxx 0000 XXXX XXXX, XXXXX 000 Xxxxxxxxx, XX 00000 XXX XXXXX, XX 00000 1000705 LOAN TYPE. This is a Variable Rate Nondisclosable Revolving Line of Credit Loan to a Corporation for $3,000,000.00 due on December 21, 2006. The reference rate (Leaders Bank Index Rate as periodically announced by The Leaders Bank, currently 5.250%) is added to the margin of 1.000%, resulting in an initial rate of 6.250. PRIMARY PURPOSE OF LOAN. The primary purpose of this loan is for: / / Personal, Family, or Household Purposes or Personal Investment. /X/ Business. SPECIFIC PURPOSE. The specific purpose of this loan is: working capital line of credit. REAL ESTATE DOCUMENTS. If any party to this transaction is granting a security interest in any real property to Lender and Advanced Life Sciences, Inc. is not also a party to the real estate document or documents Promissory Note (the "Real Estate DocumentsNote") granting such security interestdated February 15, Borrower agrees to perform 2000, between Chicago Pizza & Brewery, Inc. ("Borrower") and comply with the Real Estate Documents just Washington Mutual Bank, doing business as if Borrower has signed as a direct and original party to the Real Estate DocumentsWM Business Bank ('Lender'). This means Borrower agrees Addendum is subject to all the representations terms and warranties made in the Real Estate Documents. In addition, Borrower agrees to perform and comply strictly with all the terms, obligations and covenants to be performed by either Borrower or any Grantor or Trustor, or both, as those words are defined in the Real Estate Documents. Lender need not tell Borrower about any action or inaction Lender takes in connection with the Real Estate Documents. Borrower assumes the responsibility for being and keeping informed about the property. Borrower also waives any defenses that may arise because of any action or inaction of Lender, including without limitation any failure of Lender to realize upon the property, or any delay by Lender in realizing upon the property. FLOOD INSURANCE. As reflected on Flood Map No. 170197 0065B dated 04-15-1982, for the community of DuPage County, some conditions of the property that will secure the loan is not located in an area that has been identified by the Director remainder of the Federal Emergency Management Agency Note. LENDER AND BORROWER agree as an area having special flood hazards. Therefore, although flood insurance may be available for the property, no special flood hazard insurance is required by law for this loan.follows:
Appears in 1 contract
Samples: Business Loan Agreement (Chicago Pizza & Brewery Inc)
SUCCESSOR INTERESTS. The terms of this Note shall be binding upon Borrower, and upon Borrower's heirs, personal representatives, successors and assigns, and shall inure to the benefit of Lender and its successors and assigns. NOTIFY US OF INACCURATE INFORMATION WE REPORT TO CONSUMER REPORTING AGENCIES. Please notify us if we report any inaccurate information about your account(s) to a consumer reporting agency. Your written notice describing the specific inaccuracy(iesInaccuracy(ies) should be sent to us at the following address: The Leaders Bank X.X. Xxx 0000 Xxx XxxxxCitywide Banks Operations Center PO Box 128 Aurora, XX 00000CO 80040-0000 0128. GENERAL PROVISIONS. This Note is payable on demand. The inclusion of specific default provisions or rights of Lender shall not preclude Lender's right to declare payment of this Note on its demand. Lender may delay or forgo enforcing any Lendex xxx xxxxx xx xxxxx xxxxxxxxx xny of its rights or remedies under this Note without losing them. Borrower and any other person who signs, guarantees or endorses this Note, to the extent allowed by law, waive presentment, demand for payment, and notice of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor, accommodation maker or endorser, shall be released from liability. All such parties agree that Lender may renew or extend (repeatedly and for any length of time) this loan or release any party or guarantor or collateral; or impair, fail to realize upon or perfect Lender's security interest in the collateral; and take any other action deemed necessary by Lender without the consent of or notice to anyone. All such parties also agree that Lender may modify this loan without the consent of or notice to anyone other than the party with whom the modification is made. The obligations under this Note are joint and several. ILLINOIS INSURANCE NOTICE. Unless Borrower provides Lender with evidence of the insurance coverage required by Borrower's agreement with Lender, Lender may purchase insurance at Borrower's expense to protect Lender's interests in the collateral. This insurance may, but need not, protect Borrower's interests. The coverage that Lender purchases may not pay any claim that Borrower makes or any claim that is made against Borrower in connection with the collateral. Borrower may later cancel any insurance purchased by Lender, but only after providing Lender with evidence that Borrower has obtained insurance as required by their agreement. If Lender purchases insurance for the collateral, Borrower will be responsible for the costs of that insurance, including interest and any other charges Lender may impose in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance. The costs of the insurance may be added to Borrower's total outstanding balance or obligation. The costs of the insurance may be more than the cost of insurance Borrower may be able to obtain on Borrower's own. PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE. BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE. BORROWER: ADVANCED LIFE SCIENCES, SCOTT'S LIQUID GOLD-INC. ByBY: /s/ Xxxx Jeffry B. Johnson -------------------------------------- Xxxxxx X. Xxxxxx ------------------------------------------ Xxxx X. Johnson, C.F.O. & Treasurer of Scott's Liquix Xxxx-Xxx. XXMMERCIAL SECURITY AGREEMENT Xxxxxxx: Scott's Liquid Gold-Inc. (TIN: 84-0920811) 4880 Havana Stxxxx Denver, CO 80239 Lender: Xxxxxxxx Banxx XX Xxx 000 Xxxxxx, President of Advanced Life SciencesXX 00000-0028 (303) 365-3600 THIS CXXXXXXXXX XXXXXXXX XXXXXXXXX xxxxx Augxxx 0, 0000, xs made and executed between Scott's Liquid Gold-Inc. [ILLEGIBLE] DISBURSEMENT REQUEST AND AUTHORIZATION Borrower: Advanced Life Sciences, Inc. Lender: THE LEADERS BANK 0000 Xxxxx Xxxxx 0000 XXXX XXXX, XXXXX 000 Xxxxxxxxx, XX 00000 XXX XXXXX, XX 00000 1000705 LOAN TYPE. This is a Variable Rate Nondisclosable Revolving Line of Credit Loan to a Corporation for $3,000,000.00 due on December 21, 2006. The reference rate (Leaders Bank Index Rate as periodically announced by The Leaders Bank, currently 5.250%) is added to the margin of 1.000%, resulting in an initial rate of 6.250. PRIMARY PURPOSE OF LOAN. The primary purpose of this loan is for: / / Personal, Family, or Household Purposes or Personal Investment. /X/ Business. SPECIFIC PURPOSE. The specific purpose of this loan is: working capital line of credit. REAL ESTATE DOCUMENTS. If any party to this transaction is granting a security interest in any real property to Lender and Advanced Life Sciences, Inc. is not also a party to the real estate document or documents (the "Real Estate DocumentsGrantor") granting such security interest, Borrower agrees to perform and comply with the Real Estate Documents just as if Borrower has signed as a direct and original party to the Real Estate Documents. This means Borrower agrees to all the representations and warranties made in the Real Estate Documents. In addition, Borrower agrees to perform and comply strictly with all the terms, obligations and covenants to be performed by either Borrower or any Grantor or Trustor, or both, as those words are defined in the Real Estate Documents. Lender need not tell Borrower about any action or inaction Lender takes in connection with the Real Estate Documents. Borrower assumes the responsibility for being and keeping informed about the property. Borrower also waives any defenses that may arise because of any action or inaction of Lender, including without limitation any failure of Lender to realize upon the property, or any delay by Lender in realizing upon the property. FLOOD INSURANCE. As reflected on Flood Map No. 170197 0065B dated 04-15-1982, for the community of DuPage County, some of the property that will secure the loan is not located in an area that has been identified by the Director of the Federal Emergency Management Agency as an area having special flood hazards. Therefore, although flood insurance may be available for the property, no special flood hazard insurance is required by law for this loanCitywide Banks ("Lexxxx").
Appears in 1 contract
SUCCESSOR INTERESTS. The terms of this Note shall be binding upon Borrower, and upon Borrower's heirs, personal representatives, successors and assigns, and shall inure to the benefit of Lender and its successors and assigns. NOTIFY US OF INACCURATE INFORMATION WE REPORT TO CONSUMER REPORTING AGENCIES. Please notify us if we report any inaccurate information about your account(s) to a consumer reporting agency. Your written notice describing the specific inaccuracy(ies) should be sent to us at the following address: The Leaders Bank X.X. Xxx 0000 Xxx Xxxxx, XX 00000-0000 GENERAL PROVISIONS. This Note is payable on demand. The inclusion of specific default provisions or rights of Lender shall not preclude Lender's right to declare payment of this Note on its demand. Lender may delay or forgo enforcing any of its rights or remedies under this Note without losing them. Borrower and any other person who signs, guarantees or endorses this Note, to the extent allowed by law, waive presentment, demand for payment, and notice of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor, accommodation maker or endorser, shall be released from liability. All such parties agree that Lender may renew or extend (repeatedly and for any length of time) this loan or release any party or guarantor or collateral; or impair, fail to realize upon or perfect Lender's security interest in the collateral; and take any other action deemed necessary by Lender without the consent of or notice to anyone. All such parties also agree that Lender may modify this loan without the consent of or notice to anyone other than the party with whom the modification is made. The obligations under this Note are joint and several. ILLINOIS INSURANCE NOTICE. Unless Borrower provides Lender with evidence If any portion of this Note is for any reason determined to be unenforceable, it will not affect the insurance coverage required by Borrower's agreement with Lender, Lender may purchase insurance at Borrower's expense to protect Lender's interests in the collateral. This insurance may, but need not, protect Borrower's interests. The coverage that Lender purchases may not pay any claim that Borrower makes or any claim that is made against Borrower in connection with the collateral. Borrower may later cancel any insurance purchased by Lender, but only after providing Lender with evidence that Borrower has obtained insurance as required by their agreement. If Lender purchases insurance for the collateral, Borrower will be responsible for the costs enforceability of that insurance, including interest and any other charges Lender may impose in connection with the placement provisions of the insurancethis Note. CONFESSION OF JUDGMENT. BORROWER HEREBY IRREVOCABLY AUTHORIZES AND EMPOWERS ANY ATTORNEY OR THE PROTHONOTARY OR CLERK OF ANY COURT IN THE COMMONWEALTH OF PENNSYLVANIA, until the effective date of the cancellation or expiration of the insuranceOR ELSEWHERE, TO APPEAR AT ANY TIME FOR BORROWER AFTER A DEFAULT UNDER THIS NOTE AND WITH OR WITHOUT COMPLAINT FILED, CONFESS OR ENTER JUDGMENT AGAINST BORROWER FOR THE ENTIRE PRINCIPAL BALANCE OF THIS NOTE AND ALL ACCRUED INTEREST, LATE CHARGES AND ANY AND ALL AMOUNTS EXPENDED OR ADVANCED BY LENDER RELATING TO ANY COLLATERAL SECURING THIS NOTE, TOGETHER WITH COSTS OF SUIT, AND AN ATTORNEY'S COMMISSION OF TEN PERCENT (10%) OF THE UNPAID PRINCIPAL BALANCE AND ACCRUED INTEREST FOR COLLECTION, PROMISSORY NOTE Page 4 (Continued) ================================================================================ BUT IN ANY EVENT NOT LESS THAN FIVE HUNDRED DOLLARS ($500) ON WHICH JUDGMENT OR JUDGMENTS ONE OR MORE EXECUTIONS MAY ISSUE IMMEDIATELY; AND FOR SO DOING, THIS NOTE OR A COPY OF THIS NOTE VERIFIED BY AFFIDAVIT SHALL BE SUFFICIENT WARRANT. The costs of the insurance may be added to Borrower's total outstanding balance or obligationTHE AUTHORITY GRANTED IN THIS NOTE TO CONFESS JUDGMENT AGAINST BORROWER SHALL NOT BE EXHAUSTED BY ANY EXERCISE OF THAT AUTHORITY, BUT SHALL CONTINUE FROM TIME TO TIME AND AT ALL TIMES UNTIL PAYMENT IN FULL OF ALL AMOUNTS DUE UNDER THIS NOTE. The costs of the insurance may be more than the cost of insurance Borrower may be able to obtain on Borrower's ownBORROWER HEREBY WAIVES ANY RIGHT BORROWER MAY HAVE TO NOTICE OR TO A HEARING IN CONNECTION WITH ANY SUCH CONFESSION OF JUDGMENT AND STATES THAT EITHER A REPRESENTATIVE OF LENDER SPECIFICALLY CALLED THIS CONFESSION OF JUDGMENT PROVISION TO BORROWER'S ATTENTION OR BORROWER HAS BEEN REPRESENTED BY INDEPENDENT LEGAL COUNSEL. PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE. BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE. THIS NOTE IS GIVEN UNDER SEAL AND IT IS INTENDED THAT THIS NOTE IS AND SHALL CONSTITUTE AND HAVE THE EFFECT OF A SEALED INSTRUMENT ACCORDING TO LAW. BORROWER: ADVANCED LIFE SCIENCES, INC. BAY NATIONAL CORPORATION By: /s/ Xxxx X. Xxxxxx ------------------------------------------ (SEAL) By: /s/ Xxxx X. Xxxxxxx (SEAL) ----------------------- ------------------------ Xxxx X. Xxxxxx, President of Advanced Life SciencesXxxx X. Xxxxxxx, Inc. Vice President/ Bay National Corporation CFO of Bay National Corporation ATTEST: /s/ Xxxx X. Xxxxxxx [ILLEGIBLECORPORATE SEAL] DISBURSEMENT REQUEST AND AUTHORIZATION Borrower: Advanced Life Sciences-------------------------------- Secretary or Assistant Secretary ================================================================================ x ------------------------ Witness ADDENDUM TO PROMISSORY NOTE --------------------------- THIS ADDENDUM is attached to, Inc. Lender: THE LEADERS BANK 0000 Xxxxx Xxxxx 0000 XXXX XXXXand made a part of that certain Promissory Note dated September 28, XXXXX 000 Xxxxxxxxx2004, XX 00000 XXX XXXXX, XX 00000 1000705 LOAN TYPE. This is a Variable Rate Nondisclosable Revolving Line in the maximum principal amount of Credit Loan to a Corporation for $3,000,000.00 due on December 21, 2006. The reference rate (Leaders Bank Index Rate as periodically announced by The Leaders Bank, currently 5.250%) is added to the margin of 1.000%, resulting in an initial rate of 6.250. PRIMARY PURPOSE OF LOAN. The primary purpose of this loan is for: / / Personal, Family, or Household Purposes or Personal Investment. /X/ Business. SPECIFIC PURPOSE. The specific purpose of this loan is: working capital line of credit. REAL ESTATE DOCUMENTS. If any party to this transaction is granting a security interest in any real property to Lender and Advanced Life Sciences, Inc. is not also a party to the real estate document or documents 5,000,000.00 (the "Real Estate DocumentsNote") granting such security interest, Borrower agrees executed and delivered by Bay National Corporation ("Borrower") to perform and comply with the Real Estate Documents just as if Borrower has signed as a direct and original party to the Real Estate DocumentsXxxxxx Bank ("Lender"). This means Borrower agrees to all Addendum sets forth certain modified or supplemental provisions of the representations and warranties made in the Real Estate DocumentsNote. In addition, Borrower agrees to perform and comply strictly with all the terms, obligations and covenants to be performed by either Borrower or any Grantor or Trustor, or both, as those words All terms which are defined in the Real Estate Documents. Lender need Note and not tell Borrower about any action or inaction Lender takes otherwise defined in connection with this Addendum shall have the Real Estate Documents. Borrower assumes meanings ascribed to them in the responsibility for being and keeping informed about the property. Borrower also waives any defenses that may arise because of any action or inaction of Lender, including without limitation any failure of Lender to realize upon the property, or any delay by Lender in realizing upon the property. FLOOD INSURANCE. As reflected on Flood Map No. 170197 0065B dated 04-15-1982, for the community of DuPage County, some of the property that will secure the loan is not located in an area that has been identified by the Director of the Federal Emergency Management Agency as an area having special flood hazards. Therefore, although flood insurance may be available for the property, no special flood hazard insurance is required by law for this loanNote.
Appears in 1 contract
Samples: Promissory Note (Bay National Corp)
SUCCESSOR INTERESTS. The terms of this Note shall be binding upon Borrower, and upon Borrower's heirs, personal representatives, successors and assigns, and shall inure to the benefit of Lender and its successors and assigns. NOTIFY US OF INACCURATE INFORMATION WE REPORT TO CONSUMER REPORTING AGENCIES. Please notify us if we report any inaccurate information about your account(s) to a consumer reporting agency. Your written notice describing the specific inaccuracy(ies) should be sent to us at the following address: The Leaders Bank X.X. Xxx 0000 Xxx Xxxxx, XX 00000-0000 GENERAL PROVISIONS. This Note is payable on demand. The inclusion of specific default provisions or rights of Lender shall not preclude Lender's right to declare payment of this Note on its demand. Lender may delay or forgo enforcing any of its rights or remedies under this Note without losing them. Borrower and any other person who signs, guarantees or endorses this Note, to the extent allowed by law, waive any applicable statute of limitations, presentment, demand for payment, and notice of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor, accommodation maker or endorser, shall be released from liability. All such parties agree that Lender may renew or extend (repeatedly and for any length of time) this loan or release any party or guarantor or collateral; or impair, fail to realize upon or the perfect Lender's security interest in the collateral; and take any other action deemed necessary by Lender without the consent of or notice to anyone. All such parties also agree that Lender may modify this loan without the consent of or notice to anyone other than the party with whom the modification is made. The obligations under this Note are joint and several. ILLINOIS INSURANCE NOTICE. Unless Borrower provides Lender with evidence of the insurance coverage required by Borrower's agreement with Lender, Lender may purchase insurance at Borrower's expense to protect Lender's interests in the collateral. This insurance may, but need not, protect Borrower's interests. The coverage that Lender purchases may not pay any claim that Borrower makes or any claim that is made against Borrower in connection with the collateral. Borrower may later cancel any insurance purchased by Lender, but only after providing Lender with evidence that Borrower has obtained insurance as required by their agreement. If Lender purchases insurance for the collateral, Borrower will be responsible for the costs of that insurance, including interest and any other charges Lender may impose in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance. The costs of the insurance may be added to Borrower's total outstanding balance or obligation. The costs of the insurance may be more than the cost of insurance Borrower may be able to obtain on Borrower's own. PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE. BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE. BORROWER: ADVANCED LIFE SCIENCESVAUGHAN FOODS, INC. By: /s/ Xxxx Mark E. Vaughan By: /s/ Andre X. Xxxxxx ------------------------------------------ Xxxx X. XxxxxxXxxxhan -------------------------------- -------------------------------- Xark E. Vaughan, Andre G. Vaughan, President of Advanced Life SciencesVaugxxx Xxxxx, Inc. [ILLEGIBLE] DISBURSEMENT REQUEST AND AUTHORIZATION BorrowerXxx. Secretary of Vaugxxx Xxxxx, Xxx. XORPORATE RESOLUTION TO BORROW / GXXXX XXLLATERAL ================================================================================ Corporation: Advanced Life SciencesVaughan Foods, Inc. Lender: THE LEADERS BANK 0000 Xxxxx Xxxxx 0000 XXXX XXXXCNL Commercial Finance, XXXXX Inc., 000 XxxxxxxxxNE 12th Street a Delaware Corporation Moorx, XX 00000 XXX XXXXX26137 La Paz Road, Suite 102 Xxxxxxx Xxxxx, XX 00000 1000705 LOAN TYPE================================================================================ WE, THE UNDERSIGNED, DO HEREBY CERTIFY THAT: THE CORPORATION'S EXISTENCE. This The complete and correct name of the Corporation is Vaughan Foods, Inc. ("Corporation"). The Corporation is a Variable Rate Nondisclosable Revolving Line corporation for pxxxxx xhich is, and at all times shall be, duly organized, validly existing, and in good standing under and by virtue of Credit Loan to a Corporation for $3,000,000.00 due on December 21, 2006the laws of the State of Oklahoma. The reference rate (Leaders Bank Index Rate Corporation is duly authorized to transaction business in all other states in which the Corporation is doing business, having obtained all necessary filings, governmental licenses and approvals for each state in which the Corporation is doing business. Specifically, the Corporation is, and at all times shall be, duly qualified as periodically announced by a foreign corporation in all states in which the failure to so qualify would have a material adverse effect on its business or financial condition. The Leaders BankCorporation has the full power and authority to own its properties and to transact the business in which it is presently engaged or presently proposes to engage. The Corporation maintains an office at 216 NE 12th Street, currently 5.250%) Moore, OK 73160. Unless the Corporation has designaxxx xxxxxxxxx xx xxxxxxx, xxx xxxxcipal office is added the office at which the Corporation keeps its books and records. The Corporation will notify Lender prior to any change in the location of the Corporation's state of organization or any change in the Corporation's name. The Corporation shall do all things necessary to preserve and to keep in full force and effect its existence, rights and privileges, and shall comply with all regulations, rules, ordinances, statutes, orders and decrees of any governmental or quasi-governmental authority or court applicable to the margin of 1.000%, resulting in an initial rate of 6.250. PRIMARY PURPOSE OF LOAN. The primary purpose of this loan is for: / / Personal, Family, or Household Purposes or Personal Investment. /X/ Business. SPECIFIC PURPOSE. The specific purpose of this loan is: working capital line of credit. REAL ESTATE DOCUMENTS. If any party to this transaction is granting a security interest in any real property to Lender Corporation and Advanced Life Sciences, Inc. is not also a party to the real estate document or documents (the "Real Estate Documents") granting such security interest, Borrower agrees to perform and comply with the Real Estate Documents just as if Borrower has signed as a direct and original party to the Real Estate Documents. This means Borrower agrees to all the representations and warranties made in the Real Estate Documents. In addition, Borrower agrees to perform and comply strictly with all the terms, obligations and covenants to be performed by either Borrower or any Grantor or Trustor, or both, as those words are defined in the Real Estate Documents. Lender need not tell Borrower about any action or inaction Lender takes in connection with the Real Estate Documents. Borrower assumes the responsibility for being and keeping informed about the property. Borrower also waives any defenses that may arise because of any action or inaction of Lender, including without limitation any failure of Lender to realize upon the property, or any delay by Lender in realizing upon the property. FLOOD INSURANCE. As reflected on Flood Map No. 170197 0065B dated 04-15-1982, for the community of DuPage County, some of the property that will secure the loan is not located in an area that has been identified by the Director of the Federal Emergency Management Agency as an area having special flood hazards. Therefore, although flood insurance may be available for the property, no special flood hazard insurance is required by law for this loanCorporation's business activities.
Appears in 1 contract
SUCCESSOR INTERESTS. The terms of this Note shall be binding upon Borrower, and upon Borrower's heirs, personal representatives, successors and assigns, and shall inure to the benefit of Lender and its successors and assigns. NOTIFY US OF INACCURATE INFORMATION WE REPORT TO CONSUMER REPORTING AGENCIES. Please notify us if we report any inaccurate information about your account(s) to a consumer reporting agency. Your written notice describing the specific inaccuracy(ies) should be sent to us at the following address: The Leaders Bank X.X. Xxx 0000 Xxx Xxxxx, XX 00000-0000 GENERAL PROVISIONS. This Note is payable on demand. The inclusion of specific default provisions or rights of Lender shall not preclude Lender's right to declare payment of this Note on its demand. Lender may delay or forgo enforcing any of its rights or remedies under this Note without losing them. Borrower and any other person who signs, guarantees or endorses this Note, to the extent allowed by law, waive any applicable statute of limitations, presentment, demand for payment, and notice of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor, accommodation maker or endorser, shall be released from liability. All such parties agree that Lender may renew or extend (repeatedly and for any length of time) this loan or release any party or guarantor or collateral; or impair, fail to realize upon or perfect Lender's security interest in the collateral; and take any other action deemed necessary by Lender without the consent of or notice to anyone. All such parties also agree that Lender may modify this loan without the consent of or notice to anyone other than the party with whom the modification is made. The obligations under this Note are joint and several. ILLINOIS INSURANCE NOTICE. Unless Borrower provides Lender with evidence of the insurance coverage required by Borrower's agreement with Lender, Lender may purchase insurance at Borrower's expense to protect Lender's interests in the collateral. This insurance may, but need not, protect Borrower's interests. The coverage that Lender purchases may not pay any claim that Borrower makes or any claim that is made against Borrower in connection with the collateral. Borrower may later cancel any insurance purchased by Lender, but only after providing Lender with evidence that Borrower has obtained insurance as required by their agreement. If Lender purchases insurance for the collateral, Borrower will be responsible for the costs of that insurance, including interest and any other charges Lender may impose in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance. The costs of the insurance may be added to Borrower's total outstanding balance or obligation. The costs of the insurance may be more than the cost of insurance Borrower may be able to obtain on Borrower's own. PROMISSORY NOTE (Continued) Page 4 ================================================================================ PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE. BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE. BORROWER: ADVANCED LIFE SCIENCES, INC. NEWPORT CORPORATION By: /s/ Xxxx Xxxxxxx X. Xxxxxx ------------------------------------------ Xxxx By: /s/ Xxxxxxx X. Xxxxx ----------------------------------- -------------------------------- Xxxxxxx X. Xxxxxx, President VP of Advanced Life SciencesFinance Xxxxxxx X. Xxxxx, Inc. [ILLEGIBLE] DISBURSEMENT REQUEST AND AUTHORIZATION VP & General & Treasurer of Newport Corporation Counsel of Newport Corporation ================================================================================ EXHIBIT TO NOTE ================================================================================ Borrower: Advanced Life Sciences, Inc. Newport Corporation Lender: THE LEADERS BANK Bank of America, N.A. 0000 Xxxxx Xxxxx 0000 XXXX Xxxxxx XXXX, XXXXX 000 Xxxxxxxxx-Xxxxxxxxxx Xxxxxxx (XX) Xxxxxx, XX 00000 XXX XXXXXCA9-703-11-11 000 Xxxxx Xxxxxxx Xxxxxx, XX 00000 1000705 LOAN TYPE. 11th Floor Los Angeles, CA 90017-1486 ================================================================================ This EXHIBIT TO NOTE is attached to and by this reference is made a Variable Rate Nondisclosable Revolving Line part of Credit Loan to a Corporation for $3,000,000.00 due on December 21the Promissory Note, 2006. The reference rate (Leaders Bank Index Rate as periodically announced by The Leaders Bankdated September 25, currently 5.250%) is added to the margin of 1.000%2002, resulting in an initial rate of 6.250. PRIMARY PURPOSE OF LOAN. The primary purpose of this loan is for: / / Personal, Family, or Household Purposes or Personal Investment. /X/ Business. SPECIFIC PURPOSE. The specific purpose of this loan is: working capital line of credit. REAL ESTATE DOCUMENTS. If any party to this transaction is granting a security interest in any real property to Lender and Advanced Life Sciences, Inc. is not also a party to the real estate document or documents (the "Real Estate Documents") granting such security interest, Borrower agrees to perform and comply with the Real Estate Documents just as if Borrower has signed as a direct and original party to the Real Estate Documents. This means Borrower agrees to all the representations and warranties made in the Real Estate Documents. In addition, Borrower agrees to perform and comply strictly with all the terms, obligations and covenants to be performed by either Borrower or any Grantor or Trustor, or both, as those words are defined in the Real Estate Documents. Lender need not tell Borrower about any action or inaction Lender takes executed in connection with the Real Estate Documents. Borrower assumes the responsibility for being a loan or other financial accommodations between BANK OF AMERICA, N.A. and keeping informed about the property. Borrower also waives any defenses that may arise because of any action or inaction of Lender, including without limitation any failure of Lender to realize upon the property, or any delay by Lender in realizing upon the property. FLOOD INSURANCE. As reflected on Flood Map No. 170197 0065B dated 04-15-1982, for the community of DuPage County, some of the property that will secure the loan is not located in an area that has been identified by the Director of the Federal Emergency Management Agency as an area having special flood hazards. Therefore, although flood insurance may be available for the property, no special flood hazard insurance is required by law for this loanNewport Corporation.
Appears in 1 contract
Samples: Promissory Note (Newport Corp)
SUCCESSOR INTERESTS. The terms of this Note shall be binding upon Borrowerborrower, and upon Borrower's heirs, personal representatives, successors and assigns, and shall inure to the benefit of Lender and its successors and assigns. NOTIFY US OF INACCURATE INFORMATION WE REPORT TO CONSUMER REPORTING AGENCIES. Please notify us if we report any inaccurate information about your account(s) to a consumer reporting agency. Your written notice describing the specific inaccuracy(ies) should be sent to us at the following address: The Leaders Bank X.X. Xxx 0000 Xxx Xxxxx, XX 00000-0000 GENERAL PROVISIONS. This Note is payable on demand. The inclusion of specific default provisions or rights of Lender shall not preclude Lender's right to declare payment of this Note on its demand. Lender may delay or forgo enforcing any of its rights or remedies under this Note without losing them. Borrower and any other person who signs, guarantees or endorses this Note, to the extent allowed by law, waive any applicable statute of limitations, presentment, demand for payment, and notice of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor, accommodation maker or endorser, shall be released from liability. All such parties agree that Lender may renew or extend (repeatedly and for any length of time) this loan or release any party or guarantor or collateral; or impair, fail to realize upon or perfect Lender's security interest in the collateral; and take any other action deemed necessary by Lender without the consent of or notice to anyone. All such parties also agree that Lender may modify this loan without the consent of or notice to anyone other than the party with whom the modification is made. The obligations under this Note are joint and several. ILLINOIS INSURANCE NOTICE. Unless Borrower provides Lender with evidence of the insurance coverage required by Borrower's agreement with Lender, Lender may purchase insurance at Borrower's expense to protect Lender's interests in the collateral. This insurance may, but need not, protect Borrower's interests. The coverage that Lender purchases may not pay any claim that Borrower makes or any claim that is made against Borrower in connection with the collateral. Borrower may later cancel any insurance purchased by Lender, but only after providing Lender with evidence that Borrower has obtained insurance as required by their agreement. If Lender purchases insurance for the collateral, Borrower will be responsible for the costs of that insurance, including interest and any other charges Lender may impose in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance. The costs of the insurance may be added to Borrower's total outstanding balance or obligation. The costs of the insurance may be more than the cost of insurance Borrower may be able to obtain on Borrower's own. PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE. BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE. BORROWER: ADVANCED LIFE SCIENCESALLERGY RESEARCH GROUP, INC. ., A FLORIDA CORPORATION By: /s/ Xxxx X. Xxxxxxx Xxxxxx ------------------------------------------ Xxxx X. By: /s/ Xxxxx Xxxxxx ----------------------------------- --------------------------------- XXXXXXX XXXXXX President of ALLERGY XXXXX XXXXXX, Secretary of ALLERGY RESEARCH GROUP. INC., A FLORIDA RESEARCH GROUP, INC., A FLORIDA CORPORATION CORPORATION CITY NATIONAL BANK COMMERCIAL BANKING CENTER 000 XXXXXXXX XXXX XXXXXXXXXX, XXXXXXXXXX 00000 Supplemental Terms Letter May 18, 2001 Attention: Dr. Xxxxxxx Xxxxxx, President Allergy Research Group Inc. 00000 Xxxxxxx Xxxxxx, Hayward, CA 94544 Re: Promissory Note dated 6/5/2001, in the Original Principal Sum of Advanced Life Sciences$1,200,000 executed by Allergy Research Group, Inc. [ILLEGIBLE] DISBURSEMENT REQUEST AND AUTHORIZATION Borrowerin favor of City National Bank ("CNB") Dear Xx. Xxxxxx: Advanced Life SciencesThis is to confirm that CNB will extend the credit facility more completely described in the enclosed Note, Inc. Lender: THE LEADERS BANK 0000 Xxxxx Xxxxx 0000 XXXX XXXX, XXXXX 000 Xxxxxxxxx, XX 00000 XXX XXXXX, XX 00000 1000705 LOAN TYPEsubject to the additional terms and conditions set forth herein. Capitalized terms not defined in this letter have the meanings given them in the Note. This letter is a Variable Rate Nondisclosable Revolving Line of Credit Loan to a Corporation for $3,000,000.00 due on December 21hereby incorporated into the Note (this letter and the Note, 2006. The reference rate (Leaders Bank Index Rate as periodically announced by The Leaders Bankcollectively, currently 5.250%) is added to the margin of 1.000%, resulting in an initial rate of 6.250. PRIMARY PURPOSE OF LOAN. The primary purpose of this loan is for: / / Personal, Family, or Household Purposes or Personal Investment. /X/ Business. SPECIFIC PURPOSE. The specific purpose of this loan is: working capital line of credit. REAL ESTATE DOCUMENTS. If any party to this transaction is granting a security interest in any real property to Lender and Advanced Life Sciences, Inc. is not also a party to the real estate document or documents (the "Real Estate DocumentsNote") granting such security interest, Borrower agrees to perform and comply with the Real Estate Documents just as if Borrower has signed as a direct and original party to the Real Estate Documents. This means Borrower agrees to all the representations and warranties made in the Real Estate Documents. In addition, Borrower agrees to perform and comply strictly with all the terms, obligations and covenants to be performed by either Borrower or any Grantor or Trustor, or both, as those words are defined in the Real Estate Documents. Lender need not tell Borrower about any action or inaction Lender takes in connection with the Real Estate Documents. Borrower assumes the responsibility for being and keeping informed about the property. Borrower also waives any defenses that may arise because of any action or inaction of Lender, including without limitation any failure of Lender to realize upon the property, or any delay by Lender in realizing upon the property. FLOOD INSURANCE. As reflected on Flood Map No. 170197 0065B dated 04-15-1982, for the community of DuPage County, some of the property that will secure the loan is not located in an area that has been identified by the Director of the Federal Emergency Management Agency as an area having special flood hazards. Therefore, although flood insurance may be available for the property, no special flood hazard insurance is required by law for this loan).
Appears in 1 contract
SUCCESSOR INTERESTS. The terms of this Note shall be binding upon Borrower, and upon Borrower's ’s heirs, personal representatives, successors and assigns, and shall inure to the benefit of Lender and its successors and assigns. NOTIFY US OF INACCURATE INFORMATION WE REPORT TO CONSUMER REPORTING AGENCIES. Please notify us if If we report any inaccurate Inaccurate information about your account(s) to a consumer reporting agency. Your written notice describing the specific inaccuracy(iesineccurecy(ies) should be sent to us at the following address: The Leaders Bank X.X. Xxx 0000 Xxx XxxxxCOLORADO BUSINESS BANK ATTN: LOAN OPERATIONS 000 00XX XXXXXX XXXXXX, XX 00000-0000 . GENERAL PROVISIONS. This Note is payable on demand. The inclusion of specific default provisions or rights of Lender shall not preclude Lender's right to declare payment If any part of this Note on its demandcannot be enforced, this fact will not affect the rest of the Note. Lender may delay or forgo enforcing any of its rights or remedies under this Note without losing them. Borrower and any other person who signs, guarantees or endorses this Note, to the extent allowed by law, waive presentment, demand for payment, and notice of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor, accommodation maker or endorser, shall be released from liability. All such parties agree that Lender may renew or extend (repeatedly and for any length of time) this loan or release any party or guarantor or collateral; or impair, fail to realize upon or perfect Lender's ’s security interest Interest in the collateral; and take any other action deemed necessary by Lender without the consent of or notice to anyone. All such parties also agree that Lender may modify this loan without the consent of or notice to anyone other than the party with whom the modification is made. The obligations under this Note are joint and several. ILLINOIS INSURANCE NOTICE. Unless Borrower provides Lender with evidence of the insurance coverage required by Borrower's agreement with Lender, Lender may purchase insurance at Borrower's expense to protect Lender's interests in the collateral. This insurance may, but need not, protect Borrower's interests. The coverage that Lender purchases may not pay any claim that Borrower makes or any claim that is made against Borrower in connection with the collateral. Borrower may later cancel any insurance purchased by Lender, but only after providing Lender with evidence that Borrower has obtained insurance as required by their agreement. If Lender purchases insurance for the collateral, Borrower will be responsible for the costs of that insurance, including interest and any other charges Lender may impose in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance. The costs of the insurance may be added to Borrower's total outstanding balance or obligation. The costs of the insurance may be more than the cost of insurance Borrower may be able to obtain on Borrower's own. Loan No: 582956 PROMISSORY NOTE (Continued) PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE. BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE. BORROWER: ADVANCED LIFE SCIENCESADA-ES, INC. By: /s/ Xxxx X. Xxxxxx ------------------------------------------ Xxxx XxXxxxxxx XXXX X. XxxxxxXxXXXXXXX, President Chief Financial Officer of Advanced Life SciencesADA-ES, Inc. [ILLEGIBLE] DISBURSEMENT REQUEST AND AUTHORIZATION INC. CHANGE IN TERMS AGREEMENT Principal Loan Date Maturity Loan No call i con Account Officer Initials $ 6,600.000.00 08-22-2008 582956 106 Any item above containing “•’ •” has been omitted due to text length limitations. Borrower: Advanced Life SciencesADA-ES, Inc. INC. Lender: THE LEADERS COLORADO BUSINESS BANK 0000 Xxxxx Xxxxx 0000 XXXXXXXXX XX., XXXX XXXX, XXXXX 000 XxxxxxxxxX0 XXXXXXXXX XXXXXXXXX, XX 00000 XXX XXXXX0000 XXXXXX XX. XXXXXX, XX 00000 1000705 LOAN TYPEPrincipal Amount: $6,600,000.00 Date of Agreement: August 22, 2008 $4,000,000.00 WITH AN ORIGINAL MATURITY DATE OF PURE DEMAND AND INCLUDING ANY AND ALL SUBSEQUENT EXTENSIONS OR MODIFICATIONS THEREFROM. This is a Variable Rate Nondisclosable Revolving Line of Credit Loan to a Corporation for $3,000,000.00 due on December 21, 2006DESCRIPTION OF CHANGE IN TERMS. The reference rate (Leaders Bank Index Rate as periodically announced by The Leaders Bank, currently 5.250%) is added to the margin of 1.000%, resulting in an initial rate of 6.250THE MATURITY DATE WILL REMAIN PURE DEMAND. PRIMARY THE PURPOSE OF LOANTHIS CHANGE IN TERMS IS TO HEREBY INCREASE THE PRINCIPAL AMOUNT FROM $4,000,000.00 TO $6,600,000.00. The primary purpose of this loan is for: / / PersonalALL OTHER TERMS AND CONDITIONS WILL REMAIN THE SAME. PROMISE TO PAY. ADA-ES, FamilyINC. (“Borrower”) promises to pay to COLORADO BUSINESS BANK (“Lender”), or Household Purposes or Personal Investment. /X/ Business. SPECIFIC PURPOSE. The specific purpose of this loan is: working capital line of credit. REAL ESTATE DOCUMENTS. If any party to this transaction is granting a security interest in any real property to Lender and Advanced Life Sciences, Inc. is not also a party to the real estate document or documents (the "Real Estate Documents") granting such security interest, Borrower agrees to perform and comply with the Real Estate Documents just as if Borrower has signed as a direct and original party to the Real Estate Documents. This means Borrower agrees to all the representations and warranties made in the Real Estate Documentsorder. In addition, Borrower agrees to perform and comply strictly with all the terms, obligations and covenants to be performed by either Borrower or any Grantor or Trustor, or both, as those words are defined in the Real Estate Documents. Lender need not tell Borrower about any action or inaction Lender takes in connection with the Real Estate Documents. Borrower assumes the responsibility for being and keeping informed about the property. Borrower also waives any defenses that may arise because of any action or inaction of Lender, including without limitation any failure of Lender to realize upon the property, or any delay by Lender in realizing upon the property. FLOOD INSURANCE. As reflected on Flood Map No. 170197 0065B dated 04-15-1982, for the community of DuPage County, some lawful money of the property that will secure United States of America, on demand, the loan is not located in an area that has been identified by the Director principal amount of the Federal Emergency Management Agency Six Million Six Hundred Thousand & 00/100 Dollars 1$6,600,000.00) or so much as an area having special flood hazards. Therefore, although flood insurance may be available for outstanding, together with interest on the property, no special flood hazard insurance is required by law for this loanunpaid outstanding principal balance of each advance. Interest shall be calculated from the date of each advance until repayment of each advance.
Appears in 1 contract
Samples: Promissory Note
SUCCESSOR INTERESTS. The terms of this Note shall be binding upon Borrower, and upon Borrower's heirs, personal representatives, successors and assigns, and shall inure to the benefit of Lender and its successors and assigns. NOTIFY US OF INACCURATE INFORMATION WE REPORT TO CONSUMER REPORTING AGENCIES. Please notify us if we report any inaccurate information about your account(s) to a consumer reporting agency. Your written notice describing the specific inaccuracy(ies) should be sent to us at the following address: The Leaders Pacific Western National Bank X.X. P. 0. Xxx 0000 Xxx Xxxxx000000 Xxxxxxxx, XX 00000-0000 GENERAL PROVISIONS. This Note is payable on demand. The inclusion of specific default provisions or rights of Lender shall not preclude Lender's right to declare payment of this Note on its demand. Lender may delay or forgo enforcing any of its rights or remedies under this Note without losing them. Borrower and any other person who signs, guarantees or endorses this Note, to the extent allowed by law, waive any applicable statute of limitations, presentment, demand for payment, and notice of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor, accommodation maker or endorser, shall be released from liability. All such parties agree that Lender may renew or extend (repeatedly and for any length of time) this loan or release any party or guarantor or collateral; or impair, fail to realize upon or perfect Lender's security interest in the collateral; and take any other action deemed necessary by Lender without the consent of or notice to anyone. All such parties also agree that Lender may modify this loan without the consent of or notice to anyone other than the party with whom the modification is made. The obligations under this Note are joint and several. ILLINOIS INSURANCE NOTICE. Unless Borrower provides Lender with evidence of the insurance coverage required by Borrower's agreement with Lender, Lender may purchase insurance at Borrower's expense to protect Lender's interests in the collateral. This insurance may, but need not, protect Borrower's interests. The coverage that Lender purchases may not pay any claim that Borrower makes or any claim that is made against Borrower in connection with the collateral. Borrower may later cancel any insurance purchased by Lender, but only after providing Lender with evidence that Borrower has obtained insurance as required by their agreement. If Lender purchases insurance for the collateral, Borrower will be responsible for the costs of that insurance, including interest and any other charges Lender may impose in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance. The costs of the insurance may be added to Borrower's total outstanding balance or obligation. The costs of the insurance may be more than the cost of insurance Borrower may be able to obtain on Borrower's own. PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE. BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE. BORROWER: ADVANCED LIFE SCIENCESXXXXXXX-XXXXXX, INC. By: /s/ Xxxxxxx X. XxXxxxxx By: /s/ Xxxxxxx X. Xxxx --------------------------------------------- ------------------------------------------- Xxxxxxx X. Xxxxxx ------------------------------------------ Xxxx XxXxxxxx, Chairman of the Board of Xxxxxxx X. Xxxx, Chief Financial Officer of Xxxxxxx-Xxxxxx, President of Advanced Life Sciences, ,Inc. Xxxxxxx-Xxxxxx,Inc. ================================================================================ CORPORATE RESOLUTION TO BORROW ------------------------------------------------------------------------------------------ Principal Loan Date Maturity Loan No Call/Coll Account Officer Initials $5,000,000.00 01-27-2003 01-27-2006 02014155 710 /s/ [ILLEGIBLE] DISBURSEMENT REQUEST AND AUTHORIZATION ------------------------------------------------------------------------------------------ -------------------------------------------------------------------------------- References in the shaded area are for Lender's use only and do not limit the applicability of this document to any particular loan or item. Any item above containing " *** " has been omitted due to text length limitations -------------------------------------------------------------------------------- Borrower: Advanced Life SciencesXxxxxxx-Xxxxxx, Inc. Lender: THE LEADERS BANK Pacific Western National Bank 9601 Wilshire Boulevard Suite 000 Xxxxxxx Xxxxx Office Beverly Hills, CA 90210 0000 Xxxxx Xxxxx 0000 XXXX XXXX, XXXXX 000 XxxxxxxxxXxxxxxxx Xxxxxxxxx Xxxxxxx Xxxxx, XX 00000 XXX XXXXX================================================================================ WE, THE UNDERSIGNED, DO HEREBY CERTIFY THAT: THE CORPORATION'S EXISTENCE. The complete and correct name of the Corporation is Xxxxxxx-Xxxxxx, Inc. ("Corporation"). The Corporation is a corporation for profit which is, and at all times shall be, duly organized, validly existing, and in good standing under and by virtue of the laws of the State of Delaware. The Corporation is duly authorized to transact business in all other states in which the Corporation is doing business, having obtained all necessary filings, governmental licenses and approvals for each state in which the Corporation is doing business. Specifically, the Corporation is, and at all times shall be, duly qualified as a foreign corporation in all states in which the failure to so qualify would have a material adverse effect on its business or financial condition. The Corporation has the full power and authority to own its properties and to transact the business in which it is presently engaged or presently proposes to engage. The Corporation maintains an office at 0000 Xxxxxxxx Xxxxxxxxx Xxxxx 000, Xxxxxxx Xxxxx, XX 00000 1000705 LOAN TYPE00000. This Unless the Corporation has designated otherwise in writing, the principal office is a Variable Rate Nondisclosable Revolving Line of Credit Loan to a the office at which the Corporation for $3,000,000.00 due on December 21, 2006keeps its books and records. The reference rate (Leaders Bank Index Rate as periodically announced by Corporation will notify Lender prior to any change in the location of the Corporation's state of organization or any change in the Corporation's name. The Leaders BankCorporation shall do all things necessary to preserve and to keep in full force and effect its existence, currently 5.250%) is added rights and privileges, and shall comply with all regulations, rules, ordinances, statutes, orders and decrees of any governmental or quasi-governmental authority or court applicable to the margin of 1.000%, resulting in an initial rate of 6.250. PRIMARY PURPOSE OF LOAN. The primary purpose of this loan is for: / / Personal, Family, or Household Purposes or Personal Investment. /X/ Business. SPECIFIC PURPOSE. The specific purpose of this loan is: working capital line of credit. REAL ESTATE DOCUMENTS. If any party to this transaction is granting a security interest in any real property to Lender Corporation and Advanced Life Sciences, Inc. is not also a party to the real estate document or documents (the "Real Estate Documents") granting such security interest, Borrower agrees to perform and comply with the Real Estate Documents just as if Borrower has signed as a direct and original party to the Real Estate Documents. This means Borrower agrees to all the representations and warranties made in the Real Estate Documents. In addition, Borrower agrees to perform and comply strictly with all the terms, obligations and covenants to be performed by either Borrower or any Grantor or Trustor, or both, as those words are defined in the Real Estate Documents. Lender need not tell Borrower about any action or inaction Lender takes in connection with the Real Estate Documents. Borrower assumes the responsibility for being and keeping informed about the property. Borrower also waives any defenses that may arise because of any action or inaction of Lender, including without limitation any failure of Lender to realize upon the property, or any delay by Lender in realizing upon the property. FLOOD INSURANCE. As reflected on Flood Map No. 170197 0065B dated 04-15-1982, for the community of DuPage County, some of the property that will secure the loan is not located in an area that has been identified by the Director of the Federal Emergency Management Agency as an area having special flood hazards. Therefore, although flood insurance may be available for the property, no special flood hazard insurance is required by law for this loanCorporation's business activities.
Appears in 1 contract
SUCCESSOR INTERESTS. The terms of this Note shall be binding upon BorrowerXxxxxxxx, and upon BorrowerXxxxxxxx's heirs, personal representatives, successors and assigns, and shall inure to the benefit of Lender and its successors and assignsassigns . NOTIFY US OF INACCURATE INFORMATION WE REPORT TO CONSUMER REPORTING AGENCIES. Please notify us if we report any inaccurate information about your account(s) to a consumer reporting agency. Your written notice describing the specific inaccuracy(ies) should be sent to us at the following address: The Leaders Bank X.X. Xxx 0000 Xxx Xxxxx, XX 00000-0000 GENERAL PROVISIONSPROVISIONS . This Note is payable on demanddemand . The inclusion of specific default provisions or rights of Lender Xxxxx r shall not preclude Lender's right to declare payment of this Note on its demanddemand . If any part of this Note cannot be enforced, this fact will not affect the rest of the Note . Lender may delay or forgo enforcing any of its rights or remedies under this Note without losing themthem . Each Borrower understands and agrees that, with or without notice to Borrower, Lender may with respect to any other Borrower (a) make one or more additional secured or unsecured loans or otherwise extend additional credit ; (b) alter, compromise, renew, extend, accelerate, or otherwise change one or more times the time for payment or other terms of any indebtedness, including increases and decreases of the rate of interest on the indebtedness ; (c) exchange, enforce, waive, subordinate, fail or decide not to perfect, and release any security, with or without the substitution of new collateral ; (d) apply such security and direct the order or manner of sale thereof, Including without limitation, any non - judicial sale permitted by the terms of the controlling security agreements, as Lender in its discretion may determine ; (e) release, s ubstitute, agree not to sue, or dea l w i th any one or more of Borrower's sureties, endorsers, or other guarantors on any terms or i n any manner Lender may choose ; and (f) determine how, when and what application of payments and credits shall be made on any other indebtedness owing by such other Borrower . Borrower and any other person who signs, guarantees or endorses this Note, to the extent allowed by law, waive presentment, demand for payment, and notice of dishonordishonor . Upon any change in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor, accommodation maker or endorser, shall be released from liabilityliability . All such parties agree that Lender Xxxxx r may renew or extend (repeatedly and for any length of time) this loan or release any party or guarantor or collateralcollateral ; or impair, fail to realize upon or perfect Lender's security interest in Interest In the collateralcollateral ; and take tal<e any other action deemed necessary by Lender without the consent of or or notice to anyoneanyone . All such parties also agree that Lender Xxxxxx may modify this loan without the consent of or notice to anyone other than the party with whom the modification is mademade . The obligations under this Note are joint and several. ILLINOIS INSURANCE NOTICE. Unless Borrower provides Lender with evidence of the insurance coverage required by Borrower's agreement with Lender, Lender may purchase insurance at Borrower's expense to protect Lender's interests in the collateral. This insurance may, but need not, protect Borrower's interests. The coverage that Lender purchases may not pay any claim that Borrower makes or any claim that is made against Borrower in connection with the collateral. Borrower may later cancel any insurance purchased by Lender, but only after providing Lender with evidence that Borrower has obtained insurance as required by their agreement. If Lender purchases insurance for the collateral, Borrower will be responsible for the costs of that insurance, including interest and any other charges Lender may impose in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance. The costs of the insurance may be added to Borrower's total outstanding balance or obligation. The costs of the insurance may be more than the cost of insurance Borrower may be able to obtain on Borrower's own. PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE. BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE. BORROWER: ADVANCED LIFE SCIENCES, INC. By: /s/ Xxxx X. Xxxxxx ------------------------------------------ Xxxx X. Xxxxxx, President of Advanced Life Sciences, Inc. [ILLEGIBLE] DISBURSEMENT REQUEST AND AUTHORIZATION Borrower: Advanced Life Sciences, Inc. Lender: THE LEADERS BANK 0000 Xxxxx Xxxxx 0000 XXXX XXXX, XXXXX 000 Xxxxxxxxx, XX 00000 XXX XXXXX, XX 00000 1000705 LOAN TYPE. This is a Variable Rate Nondisclosable Revolving Line of Credit Loan to a Corporation for $3,000,000.00 due on December 21, 2006. The reference rate (Leaders Bank Index Rate as periodically announced by The Leaders Bank, currently 5.250%) is added to the margin of 1.000%, resulting in an initial rate of 6.250. PRIMARY PURPOSE OF LOAN. The primary purpose of this loan is for: / / Personal, Family, or Household Purposes or Personal Investment. /X/ Business. SPECIFIC PURPOSE. The specific purpose of this loan is: working capital line of credit. REAL ESTATE DOCUMENTS. If any party to this transaction is granting a security interest in any real property to Lender and Advanced Life Sciences, Inc. is not also a party to the real estate document or documents (the "Real Estate Documents") granting such security interest, Borrower agrees to perform and comply with the Real Estate Documents just as if Borrower has signed as a direct and original party to the Real Estate Documents. This means Borrower agrees to all the representations and warranties made in the Real Estate Documents. In addition, Borrower agrees to perform and comply strictly with all the terms, obligations and covenants to be performed by either Borrower or any Grantor or Trustor, or both, as those words are defined in the Real Estate Documents. Lender need not tell Borrower about any action or inaction Lender takes in connection with the Real Estate Documents. Borrower assumes the responsibility for being and keeping informed about the property. Borrower also waives any defenses that may arise because of any action or inaction of Lender, including without limitation any failure of Lender to realize upon the property, or any delay by Lender in realizing upon the property. FLOOD INSURANCE. As reflected on Flood Map No. 170197 0065B dated 04-15-1982, for the community of DuPage County, some of the property that will secure the loan is not located in an area that has been identified by the Director of the Federal Emergency Management Agency as an area having special flood hazards. Therefore, although flood insurance may be available for the property, no special flood hazard insurance is required by law for this loanseveral .
Appears in 1 contract
Samples: Application and Agreement for Irrevocable Letter of Credit (Aqua Power Systems Inc.)
SUCCESSOR INTERESTS. The terms of this Note shall be binding upon Borrower, and upon Borrower's heirs, personal representatives, successors and assigns, and shall inure to the benefit of Lender and its successors and assigns. NOTIFY US OF INACCURATE INFORMATION WE REPORT TO CONSUMER REPORTING AGENCIES. Please notify us if we report any inaccurate information about your account(s) to a consumer reporting agency. Your written notice describing the specific inaccuracy(ies) should be sent to us at the following address: The Leaders Bank X.X. Xxx 0000 Xxx XxxxxINDEPENDENT BANKERS BANK 615 Crescent Executive Court Suite 400 Lake Mary, XX 00000-0000 FL 32746 GENERAL PROVISIONSPRXXXXXXXX. This Note is payable on Xx xxx xxxx xx xxxx Xxxx xxxxxx xx xxxxxxxx, xxxx xxxt will not affect the rest of the Note. Borrower does not agree or intend to pay, and Lender does not agree or intend to contract for, charge, collect, take, reserve or receive (collectively referred to herein as "charge or collect"), any amount in the nature of interest or in the nature of a fee for this loan, which would in any way or event (including demand, prepayment, or acceleration) cause Lender to charge or collect more for this loan than the maximum Lender would be permitted to charge or collect by federal law or the law of the State of Florida (as applicable). The inclusion Any such excess interest or unauthorized fee shall, instead of specific default provisions or rights of Lender shall not preclude Lender's right anything stated to declare payment the contrary, be applied first to reduce the principal balance of this Note on its demandloan, and when the principal has been paid in full, be refunded to Borrower. Lender may delay or forgo enforcing any of its rights or remedies under this Note without losing them. Borrower and any other person who signs, guarantees or endorses this Note, to the extent allowed by law, waive presentment, demand for payment, and notice of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor, accommodation maker or endorser, shall be released from liability. All such parties agree that Lender may renew or extend (repeatedly and for any length of time) this loan or release any party or guarantor or collateral; or impair, fail to realize upon or perfect Lender's security interest in the collateral; and take any other action deemed necessary by Lender without the consent of or notice to anyone. All such parties also agree that Lender may modify this loan without the consent of or notice to anyone other than the party with whom the modification is made. The obligations under this Note are joint and several. ILLINOIS INSURANCE NOTICE. Unless Borrower provides Lender with evidence of the insurance coverage required by Borrower's agreement with Lender, Lender may purchase insurance at Borrower's expense to protect Lender's interests in the collateral. This insurance may, but need not, protect Borrower's interests. The coverage that Lender purchases may not pay any claim that Borrower makes or any claim that is made against Borrower in connection with the collateral. Borrower may later cancel any insurance purchased by Lender, but only after providing Lender with evidence that Borrower has obtained insurance as required by their agreement. If Lender purchases insurance for the collateral, Borrower will be responsible for the costs of that insurance, including interest and any other charges Lender may impose in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance. The costs of the insurance may be added to Borrower's total outstanding balance or obligation. The costs of the insurance may be more than the cost of insurance Borrower may be able to obtain on Borrower's own. PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE. BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE. BORROWER: ADVANCED LIFE SCIENCESCOAST FINANCIAL HOLDINGS, INC. BY: /s/ BRIAN PETERS ----------------------------------------------------- XXXXX XXXERS, EXECUTIVE VICE PRESIDENT OF COAST FINANCIAL HOLDINGS, INC. EXHIBIT "A" Principal Loan Date Maturity Loan So Call/Coll Account Officer Initials $600,000.00 04-15-2003 04-15-2005 1928 16StockBar 03 References in the shaded area are for Lender's use only and do not limit the applicability of this document to any particular loan or item. Any item above containing "****" has been omitted due to text length limitations. BORROWER: COAST FINANCIAL HOLDINGS, INC. LENDER: INDEPENDENT BANKERS' BANK OF FLORIDA POST OFFICE BOX 150 ATTENTION: CREDIT SERVICES BRANDENTON, FL 615 CRESCENT EXECUTIVE COURT SUITE 400 XXXX XXXX, XX 00000 (000) 000-0000 THIS EXHIBIT "A" IS ATTACHED TO AND BY THIS REFERENCE IS MXXX X XXXX XX THE PROMISSORY NOTE, DATED APRIL 15, 2003, AND EXECUTED IN CONNECTION WITH A LOAN OR OTHER FINANCIAL ACCOMMODATIONS BETWEEN INDEPENDENT BANKERS' BANK OF FLORIDA AND COAST FINANCIAL HOLDINGS, INC. State of Florida COUNTY OF____________ SWORN TO AND SUBSCRIBED TO BEFORE ME THIS __________ DAY OF _______________, 2003, BY BRIAN PETERS AS AN OFFICER OF COAST BANK OF FLORIDA. HE IS PERSONALLY KNOWN TO MX XX XXX XXXDUCED HIS _______________________ AS IDENTIFICATION. NOTARY SEAL: ------------------------------------------------ SIGNATURE OF NOTARY STATE OF FLORIDA MY COMMISSION EXPIRES. THIS EXHIBIT "A" IS EXECUTED ON APRIL 15, 2003. BORROWER: COAST FINANCIAL HOLDINGS, INC. By: /s/ Xxxx X. Xxxxxx ------------------------------------------ Xxxx X. Xxxxxx_________________________________________ BRIAN PETERS, President of Advanced Life SciencesEXECUTIVE VICE PRESIDENT OF COAST FINANCIAL HOLDINGS, Inc. [ILLEGIBLE] DISBURSEMENT REQUEST AND AUTHORIZATION Borrower: Advanced Life Sciences, Inc. Lender: THE LEADERS BANK 0000 Xxxxx Xxxxx 0000 XXXX XXXX, XXXXX 000 Xxxxxxxxx, XX 00000 XXX XXXXX, XX 00000 1000705 LOAN TYPEINC. This is a Variable Rate Nondisclosable Revolving Line of Credit COMMERCIAL PLEDGE AGREEMENT Principal Loan to a Corporation for Date Maturity Loan No Call/Coll Account Officer Initials $3,000,000.00 due on December 21, 2006. The reference rate (Leaders Bank Index Rate as periodically announced by The Leaders Bank, currently 5.250%) is added to the margin of 1.000%, resulting in an initial rate of 6.250. PRIMARY PURPOSE OF LOAN. The primary purpose of this loan is for: / / Personal, Family, or Household Purposes or Personal Investment. /X/ Business. SPECIFIC PURPOSE. The specific purpose of this loan is: working capital line of credit. REAL ESTATE DOCUMENTS. If any party to this transaction is granting a security interest in any real property to Lender and Advanced Life Sciences, Inc. is not also a party to the real estate document or documents (the "Real Estate Documents") granting such security interest, Borrower agrees to perform and comply with the Real Estate Documents just as if Borrower has signed as a direct and original party to the Real Estate Documents. This means Borrower agrees to all the representations and warranties made in the Real Estate Documents. In addition, Borrower agrees to perform and comply strictly with all the terms, obligations and covenants to be performed by either Borrower or any Grantor or Trustor, or both, as those words are defined in the Real Estate Documents. Lender need not tell Borrower about any action or inaction Lender takes in connection with the Real Estate Documents. Borrower assumes the responsibility for being and keeping informed about the property. Borrower also waives any defenses that may arise because of any action or inaction of Lender, including without limitation any failure of Lender to realize upon the property, or any delay by Lender in realizing upon the property. FLOOD INSURANCE. As reflected on Flood Map No. 170197 0065B dated 600,000.00 04-15-1982, 2003 04-15-2005 1928 16StockBar 03 /s/ References in the shaded area are for Lender's use only and do not limit the community applicability of DuPage County, some of the property that will secure the this document to any particular loan is not located in an area that or item. Any item above containing "***" has been identified by the Director of the Federal Emergency Management Agency as an area having special flood hazardsomitted due to text length limitations. ThereforeGRANTOR: COAST FINANCIAL HOLDINGS, although flood insurance may be available for the propertyINC. LENDER: INDEPENDENT BANKERS' BANK OF FLORIDA POST OFFICE BOX 150 ATTENTION: CREDIT SERVICES BRANDENTON, no special flood hazard insurance is required by law for this loanFL 615 CRESCENT EXECUTIVE COURT SUITE 400 XXXX XXXX, XX 00000 (000) 000-0000 THIS COMMERCIAL PLEDGE AGREEMENT DATED APRIL 15, 2003, IS XXXX XXX XXXXXTED BETWEEN COAST FINANCIAL HOLDINGS, INC. ("GRANTOR") AND INDEPENDENT BANKERS' BANK OF FLORIDA ("LENDER"). GRANT OF SECURITY INTEREST. FOR VALUABLE CONSIDERATION, GRANTOR GRANTS TO LENDER A SECURITY INTEREST IN THE COLLATERAL TO SECURE THE INDEBTEDNESS AND AGREES THAT LENDER SHALL HAVE THE RIGHTS STATED IN THIS AGREEMENT WITH RESPECT TO THE COLLATERAL, IN ADDITION TO ALL OTHER RIGHTS WHICH LENDER MAY HAVE BY LAW.
Appears in 1 contract
Samples: Business Loan Agreement (Coast Financial Holdings Inc)
SUCCESSOR INTERESTS. The terms of this Note shall be binding upon Borrower, and upon Borrower's heirs, personal representatives, successors and assigns, and shall inure to the benefit of Lender and its successors and assigns. NOTIFY US OF INACCURATE INFORMATION WE REPORT TO CONSUMER REPORTING AGENCIES. Please notify us if we report any inaccurate information about your account(s) to a consumer reporting agency. Your written notice describing the specific inaccuracy(ies) should be sent to us at the following address: The Leaders Bank X.X. Xxx 0000 Xxx Xxxxx, XX 00000-0000 GENERAL PROVISIONS. This Note is payable on demand. The inclusion of specific default provisions or rights of Lender shall not preclude Lender's right to declare payment of this Note on its demand. Lender may delay or forgo enforcing any of its rights or remedies under this Note without losing them. Borrower and any other person who signs, guarantees or endorses this Note, to the extent allowed by law, waive presentment, demand for payment, and notice of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor, accommodation maker or endorser, shall be released from liability. All such parties agree that Lender may renew or extend (repeatedly and for any length of time) this loan or release any party or guarantor or collateral; or impair, fail to realize upon or perfect Lender's security interest in the collateral; and take any other action deemed necessary by Lender without the consent of or notice to anyone. All such parties also agree that Lender may modify this loan without the consent of or notice to anyone other than the party with whom the modification is made. The obligations under this Note are joint and several. ILLINOIS INSURANCE NOTICE. Unless Borrower provides Lender with evidence of the insurance coverage required by Borrower's agreement with Lender, Lender may purchase insurance at Borrower's expense to protect Lender's interests in the collateral. This insurance may, but need not, protect Borrower's interests. The coverage that Lender purchases may not pay any claim that Borrower makes or any claim that is made against Borrower in connection with the collateral. Borrower may later cancel any insurance purchased by Lender, but only after providing Lender with evidence that Borrower has obtained insurance as required by their agreement. If Lender purchases insurance for the collateral, Borrower will be responsible for the costs of that insurance, including interest and any other charges Lender may impose in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance. The costs of the insurance may be added to Borrower's total outstanding balance or obligation. The costs of the insurance may be more than the cost of insurance Borrower may be able to obtain on Borrower's own. PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE. BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE. BORROWER: ADVANCED LIFE SCIENCES, PYRAMID BREWERIES INC. By: /s/ Xxxx X. Xxxxxx ------------------------------------------ Xxxx X. XxxxxxJAMES K. HILGER --------------------------------- JAMES K. HILGER, President CFO & XXXXXXXXX OF PYRAMID BREWERIES INC. (ILLEGIBLE DATA) BUSINESS LOAN AGREEMENT (ASSET BASED) PRINCIPAL LOAN DATE MATURITY LOAN NO CALL / COLL ACCOUNT OFFICER INITIALS ------------- ---------- ---------- ------------ ----------- ------- ------- -------- $2,000,000.00 05-14-2004 05-14-2006 77-100239-01 MARK References in the shaded arex xxx xxx Xxnder's use only and do not lixxx the applicability of Advanced Life Sciencesthis document to any particular loan or item. Any item above containing "***" has been omitted due to text length limitations. BORROWER: PYRAMID BREWERIES INC. LENDER: FIRST MUTUAL BANK 91 SOUTH ROYAL BROUGHAM WAY BUSINESS BANKING SEATTLE, Inc. [ILLEGIBLE] DISBURSEMENT REQUEST AND AUTHORIZATION Borrower: Advanced Life Sciences, Inc. Lender: THE LEADERS BANK 0000 Xxxxx Xxxxx 0000 XXXX XXXX, XXXXX 000 XxxxxxxxxWA 98134 400 - 108TH AVE NE PO BOX 1647 XXXXXXXX, XX 00000 XXX XXXXX(000) 000-0000 XXXX XXXXXXXX XOAN AGREEMENT (ASSET BASED) dated May 14, XX 00000 1000705 LOAN TYPE2004, ix xxxx xxx xxxcuted between Pyramid Breweries Inc. ("Borrower") and First Mutual Bank ("Lender") on the following terms and conditions. This Borrower has received prior commercial loans from Lender or has applied to Lender for a commercial loan or loans or other financial accommodations, including those which may be described on any exhibit or schedule attached to this Agreement ("Loan"). Borrower understands and agrees that: (A) In granting, renewing, or extending any Loan, Lender is a Variable Rate Nondisclosable Revolving Line relying upon Borrower's representations, warranties, and agreements as set forth in this Agreement; (B) the granting, renewing, or extending of Credit any Loan by Lender at all times shall be subject to a Corporation for $3,000,000.00 due on December 21, 2006. The reference rate Lender's sole judgment and discretion; and (Leaders Bank Index Rate as periodically announced by The Leaders Bank, currently 5.250%C) is added all such Loans shall be and remain subject to the margin of 1.000%, resulting in an initial rate of 6.250. PRIMARY PURPOSE OF LOAN. The primary purpose terms and conditions of this loan is for: / / Personal, Family, or Household Purposes or Personal Investment. /X/ Business. SPECIFIC PURPOSE. The specific purpose of this loan is: working capital line of credit. REAL ESTATE DOCUMENTS. If any party to this transaction is granting a security interest in any real property to Lender and Advanced Life Sciences, Inc. is not also a party to the real estate document or documents (the "Real Estate Documents") granting such security interest, Borrower agrees to perform and comply with the Real Estate Documents just as if Borrower has signed as a direct and original party to the Real Estate Documents. This means Borrower agrees to all the representations and warranties made in the Real Estate Documents. In addition, Borrower agrees to perform and comply strictly with all the terms, obligations and covenants to be performed by either Borrower or any Grantor or Trustor, or both, as those words are defined in the Real Estate Documents. Lender need not tell Borrower about any action or inaction Lender takes in connection with the Real Estate Documents. Borrower assumes the responsibility for being and keeping informed about the property. Borrower also waives any defenses that may arise because of any action or inaction of Lender, including without limitation any failure of Lender to realize upon the property, or any delay by Lender in realizing upon the property. FLOOD INSURANCE. As reflected on Flood Map No. 170197 0065B dated 04-15-1982, for the community of DuPage County, some of the property that will secure the loan is not located in an area that has been identified by the Director of the Federal Emergency Management Agency as an area having special flood hazards. Therefore, although flood insurance may be available for the property, no special flood hazard insurance is required by law for this loanAgreement.
Appears in 1 contract
Samples: Commercial Security Agreement (Pyramid Breweries Inc)
SUCCESSOR INTERESTS. The terms of this Note shall be binding upon BorrowerBxxxxxxx, and upon Borrower's Bxxxxxxx’s heirs, personal representatives, successors and assigns, and shall inure to the benefit of Lender and its successors and assigns. NOTIFY US OF INACCURATE INFORMATION WE REPORT TO CONSUMER REPORTING AGENCIES. Please notify us if we report any inaccurate information about your account(s) to a consumer reporting agency. Your written notice describing the specific inaccuracy(ies) should be sent to us at the following address: The Leaders Bank X.X. Xxx 0000 Xxx Xxxxx, XX 00000-0000 GENERAL PROVISIONS. This Note is payable on demand. The inclusion of specific default provisions or rights of Lender shall not preclude Lender's right to declare payment of this Note on its demand. Lender may delay or forgo enforcing any of its rights or remedies under this Note without losing them. Borrower and any other person who signs, guarantees or endorses this Note, to the extent allowed by law, waive presentment, demand for payment, and notice of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor, accommodation maker or endorser, shall be released from liability. All such parties waive any right to require Lender to take action against any other party who signs this Note and agree that Lender may renew or extend (repeatedly and for any length of time) this loan or release any party or guarantor or collateral; or impair, fail to realize upon or perfect Lender's Lxxxxx’s security interest in the collateral; and take any other action deemed necessary by Lender without the consent of or notice to anyone. All such parties also agree that Lender Lxxxxx may modify this loan Note without the consent of or notice to anyone other than the party with whom the modification is made. The No waiver of any of Lxxxxx’s rights hereunder, and no modification or amendment of this Note, shall be deemed to be made by Lender unless the same shall be in writing, duly signed on behalf of Lender; each such waiver shall apply only with respect to the specific instance involved, and shall in no way impair the rights of Lender or the obligations under this Note are joint and several. ILLINOIS INSURANCE NOTICE. Unless of Borrower provides to Lender with evidence of the insurance coverage required by Borrower's agreement with Lender, Lender may purchase insurance at Borrower's expense to protect Lender's interests in the collateral. This insurance may, but need not, protect Borrower's interests. The coverage that Lender purchases may not pay any claim that Borrower makes or any claim that is made against Borrower in connection with the collateral. Borrower may later cancel any insurance purchased by Lender, but only after providing Lender with evidence that Borrower has obtained insurance as required by their agreement. If Lender purchases insurance for the collateral, Borrower will be responsible for the costs of that insurance, including interest and any other charges Lender may impose in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance. The costs of the insurance may be added to Borrower's total outstanding balance or obligation. The costs of the insurance may be more than the cost of insurance Borrower may be able to obtain on Borrower's own. PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE. BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE. BORROWER: ADVANCED LIFE SCIENCES, INC. By: /s/ Xxxx X. Xxxxxx ------------------------------------------ Xxxx X. Xxxxxx, President of Advanced Life Sciences, Inc. [ILLEGIBLE] DISBURSEMENT REQUEST AND AUTHORIZATION Borrower: Advanced Life Sciences, Inc. Lender: THE LEADERS BANK 0000 Xxxxx Xxxxx 0000 XXXX XXXX, XXXXX 000 Xxxxxxxxx, XX 00000 XXX XXXXX, XX 00000 1000705 LOAN TYPE. This is a Variable Rate Nondisclosable Revolving Line of Credit Loan to a Corporation for $3,000,000.00 due on December 21, 2006. The reference rate (Leaders Bank Index Rate as periodically announced by The Leaders Bank, currently 5.250%) is added to the margin of 1.000%, resulting in an initial rate of 6.250. PRIMARY PURPOSE OF LOAN. The primary purpose of this loan is for: / / Personal, Family, or Household Purposes or Personal Investment. /X/ Business. SPECIFIC PURPOSE. The specific purpose of this loan is: working capital line of credit. REAL ESTATE DOCUMENTS. If respect at any party to this transaction is granting a security interest in any real property to Lender and Advanced Life Sciences, Inc. is not also a party to the real estate document or documents (the "Real Estate Documents") granting such security interest, Borrower agrees to perform and comply with the Real Estate Documents just as if Borrower has signed as a direct and original party to the Real Estate Documents. This means Borrower agrees to all the representations and warranties made in the Real Estate Documents. In addition, Borrower agrees to perform and comply strictly with all the terms, obligations and covenants to be performed by either Borrower or any Grantor or Trustor, or both, as those words are defined in the Real Estate Documents. Lender need not tell Borrower about any action or inaction Lender takes in connection with the Real Estate Documents. Borrower assumes the responsibility for being and keeping informed about the property. Borrower also waives any defenses that may arise because of any action or inaction of Lender, including without limitation any failure of Lender to realize upon the property, or any delay by Lender in realizing upon the property. FLOOD INSURANCE. As reflected on Flood Map No. 170197 0065B dated 04-15-1982, for the community of DuPage County, some of the property that will secure the loan is not located in an area that has been identified by the Director of the Federal Emergency Management Agency as an area having special flood hazards. Therefore, although flood insurance may be available for the property, no special flood hazard insurance is required by law for this loanother time.
Appears in 1 contract
Samples: Financing, License and Sourcing Agreement (Masterworks Vault 5, LLC)
SUCCESSOR INTERESTS. The terms of this Note shall be binding upon Borrower, and upon Borrower's heirshxxxx, personal representativesxersonal repxxxxxxxxives, successors and assigns, and shall inure to the benefit of Lender and its successors and assigns. NOTIFY US OF INACCURATE INFORMATION WE REPORT TO CONSUMER REPORTING AGENCIES. Please notify us if we report any inaccurate information about your account(s) to a consumer reporting agency. Your written notice describing the specific inaccuracy(ies) should be sent to us at the following address: The Leaders Bank X.X. Xxx 0000 Xxx Xxxxx, XX 00000-0000 GENERAL PROVISIONS. This Note is payable on demand. The inclusion of specific default provisions or rights of Lender shall not preclude Lender's right to declare payment of this Note on its demand. Lender may delay or forgo enforcing any of its rights or remedies under this Note without losing them. Borrower and any other person who signs, guarantees or endorses this Note, to the extent allowed by law, waive presentment, demand for payment, and notice of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor, accommodation maker or endorser, shall be released from liability. All such parties waive any right to require Lender to take action against any other party who signs this Note as provided in O.C.G.A. Section 10-7-24 and agree that Lender may renew or extend (repeatedly and for any length of time) this loan loan, or release any party or guarantor or collateral; or impair, fail to realize upon or perfect Lender's security interest in the collateralthx xxxxateral; and take any other action deemed necessary by Lender without the consent of or notice to anyone. All such parties also agree that Lender may modify this loan without wxxxxxx the consent of or notice to anyone other than the party with whom the modification is made. The obligations under this Note are joint and several. ILLINOIS INSURANCE NOTICE. Unless Borrower provides Lender with evidence of the insurance coverage required by Borrower's agreement with Lender, Lender may purchase insurance at Borrower's expense to protect Lender's interests in the collateral. This insurance may, but need not, protect Borrower's interests. The coverage that Lender purchases may not pay any claim that Borrower makes or any claim that is made against Borrower in connection with the collateral. Borrower may later cancel any insurance purchased by Lender, but only after providing Lender with evidence that Borrower has obtained insurance as required by their agreement. If Lender purchases insurance for the collateral, Borrower will be responsible for the costs of that insurance, including interest and any other charges Lender may impose in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance. The costs of the insurance may be added to Borrower's total outstanding balance or obligation. The costs of the insurance may be more than the cost of insurance Borrower may be able to obtain on Borrower's own. PRIOR TO SIGNING PROMISSORY NOTE Page 3 (CONTINUED) ================================================================================ THIS NOTE, BORROWER READ NOTE IS GIVEN UNDER SEAL AND UNDERSTOOD ALL IT IS INTENDED THAT THIS NOTE IS AND SHALL CONSTITUTE AND HAVE THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE. BORROWER ACKNOWLEDGES RECEIPT EFFECT OF A COMPLETED COPY OF THIS PROMISSORY NOTESEALED INSTRUMENT ACCORDING TO LAW. BORROWER: ADVANCED LIFE SCIENCESFreedom Bank (I/O) By:/s/ James S. Purcell (XXXX) ----------------------------------------------- James S. Purcell, INCMember of Freedxx Xxxx, (X/X) By:/s/ Richard S. Adams (XXXX) ----------------------------------------------- Richard S. Adams, Member of Freedxx Xxxx, (X/X) By:/s/ William Keith Ariail (XXXX) ----------------------------------------------- William Keith Ariail, Member of Fxxxxxx Xxxx, (X/X) By:/s/ Thomas H. Hardy (XXXX) ---------------------------------------------- Thomas H. Hardy, Member of Freedox Xxxx, (X/X) By:/s/ Verlin L. Reece (XXXX) ----------------------------------------------- Verlin L. Reece, Member of Freedox Xxxx, (X/X) By:/s/Harold C. Davis (XXXL) ---------------------------------------------- Harold C. Davis, Member of Freedox Xxxx, (X/X) COMMERCIAL GUARANTY ------------------------------------------------------------------------------------- PRINCIPAL LOAN DATE MATURITY LOAN NO CALL COLLATERAL ACCOUNT OFFICER INITIALS JBS ------------------------------------------------------------------------------------- References in the shaded area are for Lender's use only and do not limit the applicability of this document to any particular loan or item. By: /s/ Xxxx X. Xxxxxx ------------------------------------------ Xxxx X. Xxxxxx, President of Advanced Life Sciences, Inc. [ILLEGIBLE] DISBURSEMENT REQUEST AND AUTHORIZATION Any item above containing "***" has been omitted due to text length limitations. ------------------------------------------------------------------------------------- Borrower: Advanced Life Sciences, Inc. Freedom Bank (I/O) Lender: THE LEADERS BANKERS BANK 0000 Xxxxx Xxxxx 0000 XXXX XXXX, XXXXX 000 XxxxxxxxxP.O. Box 788 2410 PACES FERRY ROAD Xxxxxxxx, XX 00000 XXX XXXXX000 XXXXX XXMMIT XXXXXXX, XX 00000 1000705 LOAN TYPE. This is a Variable Rate Nondisclosable Revolving Line of Credit Loan to a Corporation for $3,000,000.00 due on December 21Xxxxxxxxx: ______________________ P.O. Box 788 Commerce, 2006GA 30529 ================================================================================ AMOUNT OF GUARANTY. The reference rate (Leaders Bank Index Rate as periodically announced by The Leaders Bank, currently 5.250%) is added to the margin of 1.000%, resulting in an initial rate of 6.250. PRIMARY PURPOSE OF LOAN. The primary purpose amount of this loan Guaranty is for: / / PersonalFive Hundred Thousand & 00/100 Dollars ($500,000.00). CONTINUING GUARANTY. IN CONSIDERATION OF THE SUM OF FIVE DOLLARS ($5.00) AND OTHER GOOD AND VALUABLE CONSIDERATION, FamilyTHE RECEIPT AND ADEQUACY OF WHICH ARE HEREBY ACKNOWLEDGED BY GUARANTOR AND TO INDUCE LENDER TO MAKE LOANS OR OTHERWISE EXTEND CREDIT TO BORROWER, or Household Purposes or Personal Investment. /X/ Business. SPECIFIC PURPOSE. The specific purpose of this loan is: working capital line of credit. REAL ESTATE DOCUMENTS. If any party to this transaction is granting a security interest in any real property to Lender and Advanced Life SciencesOR TO RENEW OR EXTEND IN WHOLE OR IN PART ANY EXISTING INDEBTEDNESS OF BORROWER TO LENDER, Inc. is not also a party to the real estate document or documents OR TO MAKE OTHER FINANCIAL ACCOMMODATIONS TO BORROWER, _______________ (the "Real Estate DocumentsGUARANTOR") granting such security interestABSOLUTELY AND UNCONDITIONALLY GUARANTEES AND PROMISES TO PAY TO THE BANKERS BANK ("LENDER") OR ITS ORDER, Borrower agrees to perform and comply with the Real Estate Documents just as if Borrower has signed as a direct and original party to the Real Estate DocumentsIN LEGAL TENDER OF THE UNITED STATES OF AMERICA, THE INDEBTEDNESS (AS THAT TERM IS DEFINED BELOW) OF FREEDOM BANK (I/O) ("BORROWER") TO LENDER ON THE TERMS AND CONDITIONS SET FORTH IN THIS GUARANTY. This means Borrower agrees to all the representations and warranties made in the Real Estate Documents. In addition, Borrower agrees to perform and comply strictly with all the terms, obligations and covenants to be performed by either Borrower or any Grantor or Trustor, or both, as those words are defined in the Real Estate Documents. Lender need not tell Borrower about any action or inaction Lender takes in connection with the Real Estate Documents. Borrower assumes the responsibility for being and keeping informed about the property. Borrower also waives any defenses that may arise because of any action or inaction of Lender, including without limitation any failure of Lender to realize upon the property, or any delay by Lender in realizing upon the property. FLOOD INSURANCE. As reflected on Flood Map No. 170197 0065B dated 04-15-1982, for the community of DuPage County, some of the property that will secure the loan is not located in an area that has been identified by the Director of the Federal Emergency Management Agency as an area having special flood hazards. Therefore, although flood insurance may be available for the property, no special flood hazard insurance is required by law for this loanTHE OBLIGATIONS OF GUARANTOR UNDER THIS GUARANTY ARE CONTINUING.
Appears in 1 contract
SUCCESSOR INTERESTS. The terms of this Note shall be binding upon Borrower, and upon Borrower's heirs, personal representatives, successors and assignsxxccessors anx xxxxxxs, and shall inure to the benefit of Lender and its successors and assigns. NOTIFY US OF INACCURATE INFORMATION WE REPORT TO CONSUMER REPORTING AGENCIES. Please notify us if we report any inaccurate information about your account(s) to a consumer reporting agency. Your written notice describing the specific inaccuracy(ies) should be sent to us at the following address: The Leaders Bank X.X. Xxx 0000 Xxx XxxxxNevada State Bank, XX 00000-0000 Corporate Lending Department, 750 E. Warm Springs Road, Las Vegas, NV 89119 GENERAL PROVISIONSPRXXXXXXXX. This Note is payable on demand. The inclusion of specific default provisions or rights of Lender shall not preclude Lender's right to declare payment of this Note on its demand. Lender may delay or forgo enforcing Xxxxxx xxx xxxxx xx xxxxx xxxxxxxxx any of its rights or remedies under this Note without losing them. Borrower and any other person who signs, guarantees or endorses this Note, to the extent allowed by law, waive presentment, demand for payment, and notice of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor, accommodation maker or endorser, shall be released from liability. All such parties agree that Lender may renew or extend PROMISSORY NOTE LOAN NO: 9001 (repeatedly and for any length of timeCONTINUED) this loan or release any party or guarantor or collateral; or impair, fail to realize upon or perfect Lender's security interest in the collateral; and take any other action deemed necessary by Lender without the consent of or notice to anyonePAGE 2 ================================================================================ reasonably practical. All such parties also agree that Lender may modify this loan without the consent of or notice to anyone other than the party with whom the modification is madeLENDER'S RIGHTS. The obligations under this Note are joint and several. ILLINOIS INSURANCE NOTICE. Unless Borrower provides Lender with evidence of the insurance coverage required by Borrower's agreement with LenderUpon default, Lender may purchase insurance at Borrower's expense declare the entire unpaid principal balance on this Note xxx xll accrued unpaid interest immediately due, and then Borrower will pay that amount. ATTORNEY'S FEES; EXPENSES. Lender may hire or pay someone else to protect help collect this Note if Borrower does not pay. Borrower will pay Lender that amount. This includes, subject to any limits under applicable law, Lender's interests in the collateralattorneys' fees and Lender's legal expenses, whether or nox xxxxe is a lawsuit, includixx xxxorneys' fees, expenses for bankruptcy proceedings (including efforts to modify or vacate any automatic stay or injunction), and appeals. This insurance mayIf not prohibited by applicable law, but need not, protect Borrower's interests. The coverage that Lender purchases may not Borrower also will pay any claim that court costs, in addition to all other suxx xxxxxded by law. GOVERNING LAW. THIS NOTE WILL BE GOVERNED BY, CONSTRUED AND ENFORCED IN ACCORDANCE WITH FEDERAL LAW AND THE LAWS OF THE STATE OF NEVADA. THIS NOTE HAS BEEN ACCEPTED BY LENDER IN THE STATE OF NEVADA. CHOICE OF VENUE. If there is a lawsxxx, Xorrower agrees upon Lender's request to submit to the jurisdiction xx xxx courts of Claxx Xxxnty, State of Nevada. (Initial Here ) DISHONORXX XXEM FEE. Borrower will pay a fee to Lender of $20.00 if Borrower makes or any claim that is made against Borrower in connection with the collateral. Borrower may later cancel any insurance purchased by Lender, but only after providing Lender with evidence that Borrower has obtained insurance as required by their agreement. If Lender purchases insurance for the collateral, Borrower will be responsible for the costs of that insurance, including interest and any other charges Lender may impose in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance. The costs of the insurance may be added to Borrower's total outstanding balance or obligation. The costs of the insurance may be more than the cost of insurance Borrower may be able to obtain a payment on Borrower's own. PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE. BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE. BORROWER: ADVANCED LIFE SCIENCES, INC. By: /s/ Xxxx X. Xxxxxx ------------------------------------------ Xxxx X. Xxxxxx, President of Advanced Life Sciences, Inc. [ILLEGIBLE] DISBURSEMENT REQUEST AND AUTHORIZATION Borrower: Advanced Life Sciences, Inc. Lender: THE LEADERS BANK 0000 Xxxxx Xxxxx 0000 XXXX XXXX, XXXXX 000 Xxxxxxxxx, XX 00000 XXX XXXXX, XX 00000 1000705 LOAN TYPE. This loan and the check or preauthorized charge with which Borrower pays is a Variable Rate Nondisclosable Revolving Line of Credit Loan to a Corporation for $3,000,000.00 due on December 21, 2006. The reference rate (Leaders Bank Index Rate as periodically announced by The Leaders Bank, currently 5.250%) is added to the margin of 1.000%, resulting in an initial rate of 6.250. PRIMARY PURPOSE OF LOAN. The primary purpose of this loan is for: / / Personal, Family, or Household Purposes or Personal Investment. /X/ Business. SPECIFIC PURPOSE. The specific purpose of this loan is: working capital line of credit. REAL ESTATE DOCUMENTS. If any party to this transaction is granting a security interest in any real property to Lender and Advanced Life Sciences, Inc. is not also a party to the real estate document or documents (the "Real Estate Documents") granting such security interest, Borrower agrees to perform and comply with the Real Estate Documents just as if Borrower has signed as a direct and original party to the Real Estate Documents. This means Borrower agrees to all the representations and warranties made in the Real Estate Documents. In addition, Borrower agrees to perform and comply strictly with all the terms, obligations and covenants to be performed by either Borrower or any Grantor or Trustor, or both, as those words are defined in the Real Estate Documents. Lender need not tell Borrower about any action or inaction Lender takes in connection with the Real Estate Documents. Borrower assumes the responsibility for being and keeping informed about the property. Borrower also waives any defenses that may arise because of any action or inaction of Lender, including without limitation any failure of Lender to realize upon the property, or any delay by Lender in realizing upon the property. FLOOD INSURANCE. As reflected on Flood Map No. 170197 0065B dated 04-15-1982, for the community of DuPage County, some of the property that will secure the loan is not located in an area that has been identified by the Director of the Federal Emergency Management Agency as an area having special flood hazards. Therefore, although flood insurance may be available for the property, no special flood hazard insurance is required by law for this loanlater dishonored.
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Samples: Promissory Note (Meadow Valley Corp)
SUCCESSOR INTERESTS. The terms of this Note shall be binding upon Borrower, and upon Borrower's heirs, personal representatives, successors and assigns, and shall inure to the benefit of Lender and its successors and assigns. NOTIFY US OF INACCURATE INFORMATION WE REPORT TO CONSUMER REPORTING AGENCIES. Please notify us if we report any inaccurate information about your account(s) to a consumer reporting agency. Your written notice describing the specific inaccuracy(ies) should be sent to us at the following address: The Leaders Bank X.X. Xxx 0000 Xxx Xxxxx, XX 00000-0000 GENERAL PROVISIONS. This Note is payable on demand. The inclusion of specific default provisions or rights of Lender shall not preclude Lender's right to declare payment of this Note on its demand. Lender may delay or forgo enforcing any of its rights or remedies under this Note without losing them. Borrower and any other person who signs, guarantees or endorses this Note, to the extent allowed by law, waive presentment, demand for payment, and notice of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor, accommodation maker or endorser, shall be released from liability. All such parties agree that Lender may renew or extend (repeatedly and for any length of time) this loan or release any party or guarantor or collateral; or impair, fail to realize upon or perfect Lender's security interest in the collateral; and take any other action deemed necessary by Lender without the consent of or notice to anyone. All such parties also agree that Lender may modify this loan without the consent of or notice to anyone other than the party with whom the modification is made. The obligations under this Note are joint and several. ILLINOIS INSURANCE NOTICE. Unless Borrower provides Lender with evidence of the insurance coverage required by Borrower's agreement with Lender, Lender may purchase insurance at Borrower's expense to protect Lender's interests in the collateral. This insurance may, but need not, protect Borrower's interests. The coverage that Lender purchases may not pay any claim that Borrower makes or any claim that is made against Borrower in connection with the collateral. Borrower may later cancel any insurance purchased by Lender, but only after providing Lender with evidence that Borrower has obtained insurance as required by their agreement. If Lender purchases insurance for the collateral, Borrower will be responsible for the costs of that insurance, including interest and any other charges Lender may impose in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance. The costs of the insurance may be added to Borrower's total outstanding balance or obligation. The costs of the insurance may be more than the cost of insurance Borrower may be able to obtain on Borrower's own. PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE. BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE. BORROWER: ADVANCED LIFE SCIENCES, INC. By: /s/ THE XXXXX ELECTRONICS CORPORATION By:/s/ Xxxx X. Xxxxxx ------------------------------------------ H.D. Xxxxx Sworn and subscribed before Xxxx X. XxxxxxH. D. Xxxxx, President of Advanced Life Sciences, Inc. [ILLEGIBLE] DISBURSEMENT REQUEST AND AUTHORIZATION The Xxxxx me this 24th day of February Electronics Corporation 2005 /s/ Xxxxx X. Xxxxxxx Xxxxx X. Xxxxxxx Notary Public of New Jersey Commission Expries 3/23/07 LENDER: SOVEREIGN BANK /s/ Xxxx Xxxxxxxx Authorized Signer COMMERCIAL SECURITY AGREEMENT Borrower: Advanced Life Sciences, Inc. The Xxxxx Electronics Corporation Lender: THE LEADERS BANK 0000 Xxxxx Xxxxx 0000 XXXX XXXXSovereign Bank 00 Xxxxxx Xxxx Fairfield Office Oakland, XXXXX NJ 07436 000 Xxxxxxx Xxxxxx Xxxxxxxxx, XX 00000 XXX XXXXX, XX 00000 1000705 LOAN TYPE. This is a Variable Rate Nondisclosable Revolving Line of Credit Loan to a Corporation for $3,000,000.00 due on December 21, 2006DEFINITIONS. The reference rate (Leaders Bank Index Rate as periodically announced by The Leaders Bank, currently 5.250%) is added following capitalized words and terms shall have the following meanings when used in this Agreement. Unless specifically stated to the margin contrary, all references to dollar amounts shall mean amounts in lawful money of 1.000%, resulting in an initial rate the United States of 6.250America. PRIMARY PURPOSE OF LOAN. The primary purpose of this loan is for: / / Personal, Family, or Household Purposes or Personal Investment. /X/ Business. SPECIFIC PURPOSE. The specific purpose of this loan is: working capital line of credit. REAL ESTATE DOCUMENTS. If any party to this transaction is granting a security interest in any real property to Lender Words and Advanced Life Sciences, Inc. is not also a party to the real estate document or documents (the "Real Estate Documents") granting such security interest, Borrower agrees to perform and comply with the Real Estate Documents just as if Borrower has signed as a direct and original party to the Real Estate Documents. This means Borrower agrees to all the representations and warranties made terms used in the Real Estate Documents. In additionsingular shall include the plural, Borrower agrees to perform and comply strictly with all the terms, obligations and covenants to be performed by either Borrower or any Grantor or Trustor, or bothplural shall include the singular, as those words are the context may require. Words and terms not otherwise defined in this Agreement shall have the Real Estate Documents. Lender need not tell Borrower about any action or inaction Lender takes meanings attributed to such terms in connection with the Real Estate Documents. Borrower assumes the responsibility for being and keeping informed about the property. Borrower also waives any defenses that may arise because of any action or inaction of Lender, including without limitation any failure of Lender to realize upon the property, or any delay by Lender in realizing upon the property. FLOOD INSURANCE. As reflected on Flood Map No. 170197 0065B dated 04-15-1982, for the community of DuPage County, some of the property that will secure the loan is not located in an area that has been identified by the Director of the Federal Emergency Management Agency as an area having special flood hazards. Therefore, although flood insurance may be available for the property, no special flood hazard insurance is required by law for this loan.Uniform Commercial Code:
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SUCCESSOR INTERESTS. The terms of this Note shall be binding upon Borrower, and upon Borrower's heirs, personal representatives, successors and assignsassign, and shall inure to the benefit of Lender and its successors and assigns. NOTIFY US OF INACCURATE INFORMATION WE REPORT TO CONSUMER REPORTING AGENCIES. Please notify us if we report any inaccurate information about your account(s) to a consumer reporting agency. Your written notice describing the specific inaccuracy(ies) should be sent to us at the following address: The Leaders Bank X.X. Xxx 0000 Xxx XxxxxRBC CENTURA BANK, XX 00000-0000 GENERAL PROVISIONSBoca Raton, FL, Lending Service Center (FL), 2801 PGA Blvd., Suite 280H, Palm Beach Gardens, FL 33410 GENERXX XXXXXXXXXX. This Note is payable on Xx xxx xxxx xx xxxx Xxxx xxxxxx xx xxxxxced, this fact will not affect the rest of the Note. Borrower does not agree or intend to pay, and Lender does not agree or intend to contract for, charge, collect take, reserve or receive (collectively referred to herein as "charge or collect"), any amount in the nature of interest or in the nature of a fee for this loan, which would in any way or event (including demand, prepayment, or acceleration) cause Lender to charge or collect more for this loan than the maximum Lender would be permitted to charge collect by federal law or the law of the State of Florida (as applicable). The inclusion Any such excess interest or unauthorized fee shall, instead of specific default provisions or rights of Lender shall not preclude Lender's right anything stated to declare payment the contrary, be applied first to reduce the principal balance of this Note on its demandloan, and when the principal has been paid in full, be refunded to Borrower. Lender may delay or forgo enforcing any of its rights or remedies under this Note without losing them. Borrower and any other person who signs, guarantees or endorses this Note, to the extent allowed by law, waive presentment, demand for payment, and notice of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor, accommodation maker or endorser, shall be released from liability. All such parties agree that Lender may renew or extend (repeatedly and for any length of time) this loan or release any party or guarantor or collateral; or impair, fail to realize upon or perfect Lender's security interest in the collateral; and take any other action deemed necessary by Lender without the consent of or notice to anyone. All such parties also agree that Lender may modify this loan without the consent of or notice to anyone other than the party with whom the modification is made. The obligations under this Note are joint and several. ILLINOIS INSURANCE NOTICE. Unless Borrower provides Lender with evidence of the insurance coverage required by Borrower's agreement with Lender, Lender may purchase insurance at Borrower's expense to protect Lender's interests in the collateral. This insurance may, but need not, protect Borrower's interests. The coverage that Lender purchases may not pay any claim that Borrower makes or any claim that is made against Borrower in connection with the collateral. Borrower may later cancel any insurance purchased by Lender, but only after providing Lender with evidence that Borrower has obtained insurance as required by their agreement. If Lender purchases insurance for the collateral, Borrower will be responsible for the costs of that insurance, including interest and any other charges Lender may impose in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance. The costs of the insurance may be added to Borrower's total outstanding balance or obligation. The costs of the insurance may be more than the cost of insurance Borrower may be able to obtain on Borrower's own. PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE. BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COMPLTED COPY OF THIS PROMISSORY NOTE. BORROWER: ADVANCED LIFE SCIENCESPETMED EXPRESS, INC. By: /s/ Xxxx X. Xxxxxx ------------------------------------------ Xxxx X. XxxxxxBruce S. Rosenbloom ------------------------ Bruce Rosexxxxxx, President of Advanced Life SciencesXxxxxxxxx xf Petmed Express, Inc. [ILLEGIBLE] DISBURSEMENT REQUEST AND AUTHORIZATION =========================================================================== COMPLIANCE AGREEMENT =========================================================================== Borrower: Advanced Life Sciences, Petmed Express Inc. Lender: THE LEADERS RBC CENTURA BANK 0000 Xxxxx Xxxxx 0000 XXXX XXXX1441 SW 29th Ave Boca Raton, XXXXX 000 XxxxxxxxxFL Pxxxxxx Xxxxx, XX 00000 XXX XXXXXXxxxxxx Xxxxxxx Center (FL) 2801 PGA Blvd. Suite 280H Xxxx Xxxxx Xxxxxxx, XX 00000 1000705 LOAN TYPE. =========================================================================== This COMPLIANCE AGREEMENT is attached to and by this reference is made a Variable Rate Nondisclosable Revolving Line part of Credit Loan to a Corporation for $3,000,000.00 due on December 21the Promissory Note, 2006. The reference rate (Leaders Bank Index Rate as periodically announced by The Leaders Bankdated November 2, currently 5.250%) is added to the margin of 1.000%2004, resulting in an initial rate of 6.250. PRIMARY PURPOSE OF LOAN. The primary purpose of this loan is for: / / Personal, Family, or Household Purposes or Personal Investment. /X/ Business. SPECIFIC PURPOSE. The specific purpose of this loan is: working capital line of credit. REAL ESTATE DOCUMENTS. If any party to this transaction is granting a security interest in any real property to Lender and Advanced Life Sciences, Inc. is not also a party to the real estate document or documents (the "Real Estate Documents") granting such security interest, Borrower agrees to perform and comply with the Real Estate Documents just as if Borrower has signed as a direct and original party to the Real Estate Documents. This means Borrower agrees to all the representations and warranties made in the Real Estate Documents. In addition, Borrower agrees to perform and comply strictly with all the terms, obligations and covenants to be performed by either Borrower or any Grantor or Trustor, or both, as those words are defined in the Real Estate Documents. Lender need not tell Borrower about any action or inaction Lender takes executed in connection with the Real Estate Documents. Borrower assumes the responsibility for being a loan or other financial accommodations between RBC CENTURA BANK and keeping informed about the property. Borrower also waives any defenses that may arise because of any action or inaction of LenderPetmed Express, including without limitation any failure of Lender to realize upon the property, or any delay by Lender in realizing upon the property. FLOOD INSURANCE. As reflected on Flood Map No. 170197 0065B dated 04-15-1982, for the community of DuPage County, some of the property that will secure the loan is not located in an area that has been identified by the Director of the Federal Emergency Management Agency as an area having special flood hazards. Therefore, although flood insurance may be available for the property, no special flood hazard insurance is required by law for this loan.Inc.
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SUCCESSOR INTERESTS. The terms of this Note shall be binding upon Borrower, and upon Borrower's heirs, personal representatives, successors and assigns, and shall inure to the benefit of Lender and its successors and assigns. NOTIFY US OF INACCURATE INFORMATION WE REPORT TO CONSUMER REPORTING AGENCIES. Please notify us if we report any inaccurate information about your account(s) to a consumer reporting agency. Your written notice describing the specific inaccuracy(ies) should be sent to us at the following address: The Leaders Bank X.X. Xxx 0000 Xxx Xxxxx, XX 00000-0000 GENERAL PROVISIONS. This Note is payable on demand. The inclusion of specific default provisions or rights of Lender shall not preclude Lender's right to declare payment of this Note on its demand. Lender may delay or forgo enforcing any of its rights or remedies under this Note without losing them. , Borrower and any other person who signs, guarantees or endorses this Note, to the extent allowed by law, waive presentment, demand for payment, and notice of dishonor. , Upon any change in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor, accommodation maker or endorser, shall be released from liability. All such parties waive any right to require Lender to take action against any other party who signs this Note as provided in O.C.G.A. Section 10-7-24 and agree that Lender may renew or extend (repeatedly and for any length of time) this loan or release any party or guarantor or 'collateral; or impair, fail to realize upon or perfect Lender's security interest in the collateral; and take any other action deemed necessary by Lender without the consent of or notice to anyone. All such parties also agree that Lender may modify this loan without the consent of or notice to anyone other than the party with whom the modification is made. The obligations under this Note are joint and several. ILLINOIS INSURANCE NOTICE. Unless Borrower provides Lender with evidence of the insurance coverage required by Borrower's agreement with Lender, Lender may purchase insurance at Borrower's expense to protect Lender's interests in the collateral. This insurance may, but need not, protect Borrower's interests. The coverage that Lender purchases may not pay any claim that Borrower makes or any claim that is made against Borrower in connection with the collateral. Borrower may later cancel any insurance purchased by Lender, but only after providing Lender with evidence that Borrower has obtained insurance as required by their agreement. If Lender purchases insurance for the collateral, Borrower will be responsible for the costs of that insurance, including interest and any other charges Lender may impose in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance. The costs of the insurance may be added to Borrower's total outstanding balance or obligation. The costs of the insurance may be more than the cost of insurance Borrower may be able to obtain on Borrower's own. PRIOR TO SIGNING THIS NOTE, BORROWER READ NOTE IS GIVEN UNDER SEAL AND UNDERSTOOD ALL IT IS INTENDED THAT THIS NOTE IS AND SHALL CONSTITUTE AND HAVE THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE. BORROWER ACKNOWLEDGES RECEIPT EFFECT OF A COMPLETED COPY OF THIS PROMISSORY NOTESEALED INSTRUMENT ACCORDING TO LAW. BORROWER: ADVANCED LIFE SCIENCES, INC. CITIZENS FIRST CORPORATION By: /s/ Xxxx X. Xxxxxx ------------------------------------------ -------------- Xxxx X. Xxxxxx, Xxxxxx President and CEO of Advanced Life Sciences, Inc. [ILLEGIBLE] DISBURSEMENT REQUEST AND AUTHORIZATION Borrower: Advanced Life Sciences, Inc. LenderCitizens First Corporation LENDER: THE LEADERS BANKERS BANK 0000 Xxxxx Xxxxx 0000 XXXX XXXX2 1 ADDENDUM TO PROMISSORY NOTE THIS ADDENDUM, XXXXX 000 Xxxxxxxxxmade this lih day of August 2005, XX 00000 XXX XXXXX, XX 00000 1000705 LOAN TYPE. This is a Variable Rate Nondisclosable Revolving Line of Credit Loan to a Corporation for $3,000,000.00 due on December 21, 2006. The reference rate (Leaders Bank Index Rate as periodically announced by The Leaders Bank, currently 5.250%) is added to the margin of 1.000%, resulting in an initial rate of 6.250. PRIMARY PURPOSE OF LOAN. The primary purpose of this loan is for: / / Personal, Family, or Household Purposes or Personal Investment. /X/ Business. SPECIFIC PURPOSE. The specific purpose of this loan is: working capital line of credit. REAL ESTATE DOCUMENTS. If any party to this transaction is granting a security interest in any real property to Lender and Advanced Life Sciences, Inc. is not also a party to the real estate document or documents (the "Real Estate Documentsbetween CITIZENS FIRST CORPORATION,("Borrower") granting such security interestand THE BANKERS BANK, Borrower agrees to perform and comply with the Real Estate Documents just as if Borrower has signed as a direct and original party to the Real Estate Documents. This means Borrower agrees to all the representations and warranties made in the Real Estate Documents. In additionits main office located at 2410 Paces Ferry Road, Borrower agrees to perform and comply strictly with all the terms600 Paces Summit, obligations and covenants to be performed by either Borrower or any Grantor or TrustorXxxxxxx, or both, as those words are defined in the Real Estate Documents. Lender need not tell Borrower about any action or inaction Lender takes in connection with the Real Estate Documents. Borrower assumes the responsibility for being and keeping informed about the property. Borrower also waives any defenses that may arise because of any action or inaction of Xxxxxxx 00000 ("Lender, including without limitation any failure of Lender to realize upon the property, or any delay by Lender in realizing upon the property. FLOOD INSURANCE. As reflected on Flood Map No. 170197 0065B dated 04-15-1982, for the community of DuPage County, some of the property that will secure the loan is not located in an area that has been identified by the Director of the Federal Emergency Management Agency as an area having special flood hazards. Therefore, although flood insurance may be available for the property, no special flood hazard insurance is required by law for this loan").
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