BC 1984 05 29 - Laserfiche WebLink

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576 be added to the principal of this note and the interest rate shall be computed on said principal amount each month thereafter. The principal shall be payable in 156 equal monthly installments beginning on the day of , 1986, and continuing on the day of.each mont~ thereafter and interest shall be payable in 156 monthly payments computed on the remaining balance of principal each month beginning on the day of , 1987, and continuing on the day of each month thereafter until fully paid; In the event of default in payment of any installment of principal or interest hereof or default under the terms of any instrument securing this note, and if the default is not made good within fifteen (15) days, the holder may, without notice, declare the remainder of the debt 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 principal of this note and any part thereof, and accrued interest, if any, shall bear interest at the rate of same per cent per annum after default until paid. Ail parties to this note, whether principal, surety, guarantor or endorsers, hereby waive presentment for payment, demand, protest and notice of dishonor, and all defenses on the ground of extension of time for the payment hereof, which may be given by the holder of the note to them or either of them, or to anyone who has assumed the payment of this note. Upon default the holder of this note may employ an attorney to enforce the holder's rights and remedies and the maker, principal, surety guarantor and endorsers of this note hereby agree to pay to the holder the sum of fifteen (15%) per cent of the outstanding balance owing on said note for reasonable attorneys' fees, plus all other reasonable expenses incurred by the holder in exercising any of the holder's rights and remedies upon default. This note is to be governed and construed in accordance with the laws of the State of North Carolina. This note is given for borrowed money, and is secured by a Security Interest and Second Deed of Trust upon the property therein described. The provisions of all security instruments securing this note are incorporated herein by reference. IN TESTIMONY WHEREOF, each corporate maker has caused this instrument to be executed in its corporate name by its President, attested by its Secretary, and its corporate seal to be hereto affixed, all by order of its Board of Directors first duly given, this day and year first above written. ORCHARD ELECTRONICS, INC. (Corporate Name) By President ATTEST Secretary(Corporate Seal) SFE TECHNOLOGIES, INC. (Corporate Name) By President ATTEST Secretary (Corporate Seal) IN TESTIMONY WHEREOF, each individual maker has hereunto set his hand and adopted as his seal the word "SEAL" appearing be~ide his name, this day and year first above written. (SEAL) (SEAL) (SEAL) (Sm~L) (SEAL) (SEAL) (SEAL)~ Mr. James L.'Pharr, Fire Marshal, presented a slide presentation relating to chemicals and the need for adequate equipment and clothing to be used in the event of a chemical accident. Mr. Benny H. Mabrey, Sr., Emergency Services Director, also addressed the Board on the dangers of a chemical accident. UPON MOTION of Commissioner Payne, seconded by Chairman Lentz with Commissioners Payne and Barnhardt and Chairman Lentz voting for and Commissioners Milloway and Nash voting against, the Board agreed to set the Equipment and Furniture line item account in the Fire Marshal's budget at $15,000.00.