Orange County NC Website
Browse       Search
DocuSign Envelope ID:99AD3BD7-DDE5-4F33-B12B-32DBF304D7B0 <br /> EXPENSES OF COLLECTION <br /> In the event of a default under any provision of this Note (and in addition to collecting all principal, <br /> interest and other amounts due on this Note) or the North Carolina UCC financing statement, securing <br /> this Note or any violation of the Loan Agreement, the County may employ an attorney to enforce the <br /> County's rights and remedies. The Borrower agrees to pay to the County reasonable attorney's fees not <br /> exceeding a sum equal to fifteen per cent (15%) of the outstanding balance owing on the Note, plus all <br /> other reasonable expenses incurred by the County in exercising any of the County's rights and remedies <br /> upon default. <br /> COVENANTS <br /> All parties to this Note, including the maker and any sureties, endorsers or guarantors, hereby <br /> waive (to the extent permitted bylaw) protest, presentment, notice of dishonor and notice of acceleration <br /> of maturity and agree to continue to remain bound for the repayment of principal, interest and all other <br /> sums due under this Note, notwithstanding any change or changes by way of release, surrender, <br /> exchange, modification or substitution of any security for this Note or by way of any extensions of time <br /> for the payment of this Note; and all such parties waive (to the extent permitted by law) all and every kind <br /> of notice of such change or changes and agree that the same may be made without notice or consent of <br /> any of them. <br /> GOVERNING LAW <br /> The Borrower and the County intend that North Carolina law shall govern all matters related to <br /> this Note. <br /> RIGHTS CUMULATIVE <br /> The rights and remedies of the County as provided in this Note and any instrument securing this <br /> Note shall be cumulative and may be pursued singly, successively, or together against the property <br /> described in the UCC Financing Statement or any other funds, property or security held by the County <br /> for payment or security, in the sole discretion of the County. The failure to exercise any such right or <br /> remedy shall not be a waiver or release of such rights or remedies or the right to exercise any of them at <br /> another time. <br /> AMENDMENT AND MODIFICATION <br /> No waiver by the County of any of the terms and conditions of this Note shall be effective unless <br /> it is in writing and signed by the County. No modification or amendment to this Note may be made except <br /> in writing, signed by the Borrower and the County. <br /> COUNTERPARTS; SIGNATURES AND AMENDMENTS <br /> This Note may be executed in two or more counterparts, each of which shall be deemed an <br /> original, but all of which together shall constitute one and the same instrument. For purposes hereof, a <br /> facsimile copy of this Note, including the signature pages hereto, shall be deemed to be an original. <br /> Notwithstanding the foregoing, the parties shall deliver original execution copies of this Note to one <br /> another as soon as practicable following execution thereof. <br /> This Agreement together with any amendments or modifications may be executed <br /> electronically. All electronic signatures affixed hereto evidence the consent of the Parties to utilize <br /> electronic signatures and the intent of the Parties to comply with Article 11A and Article 40 of North <br /> Carolina General Statute Chapter 66. <br /> IN WITNESS WHEREOF, the Borrower has caused this Note to be signed and delivered by its <br /> duly authorized officers on the day and year first above written: <br /> ESBLPLSA <br />