Minutes - 1-6-14 Reg. Meeting - Laserfiche WebLink

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0 0 B K- 00026 PG installment of principal hereof as the same becomes due or any of the conditions expressly stated above and such default is not cured within ten (10) days from the due date after written notice to maker, then in such event the County may without further notice, declare the remainder of the principal sum, together with all interest accrued thereon at once due and payable. Failure to exercise this option shall not constitute a waiver of the right to exercise the same at any other time. The unpaid principal of this Agreement and any part thereof, accrued interest and all other sums due under this Agreement, if any, shall bear interest at the rate of eight percent (8 %) per annum after default until paid. Furthermore, in the event of default, Borrower shall pay interest at a rate of eight percent (8 %) per annum on all amounts already paid to County under the terms of this Agreement. All parties to this Agreement, including maker and any sureties, endorsers, or guarantors hereby waive protest, presentment, notice of dishonor, and notice of acceleration of maturity and agree to continue to remain bound for the payment of principal, interest and all other sums due under this Agreement notwithstanding any change or changes by way of release, surrender, exchange, modification or substitution of any security for this Agreement or by way of any extension or extensions of time for the payment of principal and interest; and all such parties waive all and every kind of notice of such change or changes and agree that the same may be made without notice or consent of any of them. Upon default the County may employ an attorney to enforce the holder's rights and remedies and the maker, principal, surety, guarantor and endorsers of this Agreement hereby agree to pay to the County reasonable attorney's fees not exceeding a sum equal to fifteen percent (15 %) of the outstanding balance owing, plus all other reasonable expenses incurred by the County in exercising any of the County's rights and remedies upon default. The rights and remedies of the County as provided in this Agreement shall be cumulative and may be pursued singly, successively, or together in the sole discretion of the County. The failure to exercise any such right or remedy shall not be a waiver or release of such rights or remedies or the right to exercise any of them at another time. 8. Notices. All notices, certificates or other communications required by or made pursuant to this Agreement shall be sufficiently given and shall be deemed given when delivered or mailed by registered or certified mail, postage prepaid or sent by email as follows: rd