Laserfiche WebLink
a. Curing of Monetary Default. <br /> If a monetary event of default occurs under the terms of any of the Loan <br /> Documents, before exercising any remedies thereunder, Holder shall give Maker written notice of <br /> such default. Maker shall have a period of ten (10) calendar days after such notice is given, or <br /> such longer period of time as may be specified in the Loan Documents, within which to cure the <br /> default before exercise of remedies by Holder under this Note or the Loan Documents. <br /> A default in payment of any amount due hereunder may be cured only by payment <br /> in full of such amount plus the interest accrued from the date of default, as stated above, on the <br /> unpaid principal balance as of the date of default until the date of payment resulting from <br /> application of a default rate of interest as provided herein, if any, that may be due hereunder or <br /> under any instrument relating to or securing this Note, plus any attorneys' fees incurred by the <br /> Holder by reason of such default. <br /> b. Curing of Nonmonetary Default. <br /> If a nonmonetary event of default occurs under the terms of any of the Loan <br /> Documents, prior to exercising any remedies thereunder, Holder shall give Maker written notice <br /> of such default. <br /> If the nonmonetary default is reasonably capable of being cured within thirty (30) <br /> calendar days, Maker shall have such period to effect a cure prior to exercise of remedies by <br /> Holder under the Loan Documents, or such longer period of time as may be specified in the Loan <br /> Documents. If the default is such that it is not reasonably capable of being cured within thirty (30) <br /> calendar days or such longer period if so specified, and if Maker, in the reasonable determination <br /> of Holder, (a) initiates corrective action within said period and (b) diligently, continually, and in <br /> good faith works to effect a cure as soon as possible, then Maker shall have such additional time <br /> as Holder determines is reasonably necessary to cure the default prior to exercise of any remedies <br /> by Holder. In no event shall Holder be precluded from exercising remedies if its security becomes <br /> or is about to become materially jeopardized by any failure to cure a default or if the default is not <br /> cured within sixty (60) calendar days after the first notice of default is given, or such longer period <br /> of time as may be specified in the Loan Documents. <br /> 8. No waiver. Failure to exercise any right the Holder may have or be entitled to <br /> in the event of any default hereunder shall not constitute a waiver of such right or any other right <br /> in the event of any subsequent default. <br /> 9. Waiver of Presentment. The Maker and all guarantors and endorsers hereof <br /> hereby severally waive presentment for payment, protests, and demand, notice of protest, <br /> demand, dishonor, and nonpayment of this Note, and consent that the Holder hereof may extend <br /> the time of payment or otherwise modify the terms of payment of any part or the whole of the debt <br /> evidenced by this Note, by agreement between the Holder and Maker, and such consent shall <br /> not alter or diminish the liability of any person or the enforceability of this Note. Each and every <br /> party signing or endorsing this Note binds itself as a principal and not as a surety. This Note shall <br /> bind the undersigned and its successors and assigns, jointly and severally. <br />