Agenda - Council - 11/10/1981 - Laserfiche WebLink

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I I I I i I I I I I I I I I I I I I upon the books of the Issuer and in the registration blank appearing below. The Issuer may deem and treat the person in whose name this Note is last registered upon the books of the Issuer, with such registration also noted on this Note, as the absolute owner hereof, whether or not overdue, for the purpose of receiving payment of or on account of the principal hereof, interest hereon or any other sums payable hereunder and for all other purposes, and all such payments so made to the Holder or upon its order shall be valid and effectual to satisfy and discharge the liability on this Note to the extent of the sum or sums so paid, and the Is- suer shall not be affected by any notice to the contrary. By acceptance of this Note, the Holder agrees to provide to the City Administrator/Clerk, at the City Administra- tor/Clerk's request, a verified statement of the dates and amounts of all payments of principal, premium, if any, and interest received in respect to this Note. Ail of the agreements, conditions, covenants and stipu- lations of the Issuer and provisions contained in the Reso- lution, the Agreement, the Mortgage, the July 25, 1978 Mort- gage, the Assignment, the Guaranty and the Pledge Agreement are hereby made a part of this Note to the same extent and with the same force and effect' as if they were fully set forth herein. If an event of default occurs and is subsist- ing under this Note, the Agreement, the Mortgage, the July 25, 1978 Mortgage, the Assignment, the Guaranty or the Pledge Agreement or if any other event occurs and subsists which entitles the Holder hereof to accelerate payment under the Agreement or the Mortgage, then the Holder hereof shall have the right and option to declare immediately due and pa~able the unpaid principal of this Note and interest ac- crued thereon to the date of declaration of such accelerar tion, together with any attorneys' fees incurred by the Holder in collecting or enforcing payment thereof, whether suit be brought or not, and all other sums due hereunder or under the Agreement, the Mortgage, the Assignment, the Guar- anty and the Pledge Agreement. In the event the Borrower sells, conveys, transfers, further mortgages or encumbers or disposes of the Mortgaged Property or any part thereof or interest therein or agrees to do so or an interest in the Borrower is sold, conveyed, pledged or transferred (other than through the operation of law.by death or by bankruptcy of any of the Guarantors), in each case without the written consent of the Holder of this Note being first obtained, then, at the sole option of the Holder, the Holder may declare the entire amount of unpaid principal hereof and accrued interest thereon due and pay- able in full and may call for payment of the same in full at once. In the event the Borrower shall request the consent - 6 -