Agenda - 03-21-2000-5a - Laserfiche WebLink

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33 costs and expenses all monies of the Company or other proceeds arising from the possession or disposition of all or any portion of the Collateral. 6. All notices, requests, approvals, demands and other communications given or made in connection with the terms and provisions of this Agreement shall be in writing and shall be deemed to have been given or made when either delivered by hand or shown as delivered by a receipt for delivery from the United States Postal Service, and sent as follows: (a) If to the Company, addressed as follows: President, Orange County Small Business Loan Program Company, Post Office Box 1177, Hillsborough, NC 27278; or, (b) If to the Bank, as indicated on the Bank's respective signature page to the Loan Agreement; or to such other addresses as either party shall furnish in writing to the other. 7. The Bank and the Company agree and acknowledge that the Company is making several simultaneous grants of similar security interests in the Collateral to the other banks that are parties to the Loan Agreement. Each such grant is being made pursuant to a security agreement in substantially the same form as this Agreement. The rights of the banks in the Collateral aze of equal rank with one another. If the Bank shall receive, obtain, or recover any payment or collateral under this Security Agreement (whether voluntarily, involuntarily, through the exercise of any right of set-off or otherwise), the Bank shall hold and disburse such recovery as provided in the Loan Agreement. $. .The parties intend that North Carolina law shall govern this Agreement. 9. This Agreement shall inure to the benefit of the Bank, its successors and assigns, and shall be binding upon the Company, its successors and assigns. Only a writing signed on behalf of each parry may amend this Agreement. [The remainder of this page has been intentianally left blanl~.J