Reso 1998-012 - Laserfiche WebLink

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SECTION 6.07 JUDGMENTS If any final judgment for the payment of money that is not fully covered by liability insurance shall be rendered against the BORROWER, and within thirty (30) days shall not be discharged, or any appeal therefrom taken and execution thereon effectively stayed pending such appeal, and if such judgment be affirmed on such appeal, the same shall not be discharged within thirty (30) days. SECTION 6.08 CONVENTIONAL FINANCING If the BORROWER shall refuse to secure conventional financing offered on reasonable terms by a private lender to take out indebtedness to the City of San Leandro under the terms of this AGREEMENT and PROMISSORY NOTE. SECTION 6.09 RIGHTS UPON DEFAULT Upon default by BORROWER, LENDER has all remedies available to it under State law enforcing this AGREEMENT and LENDER's rights to the collateral mentioned herein including, but not limited to the following: a) Accelerate and declare the full balance immediately due on the PROMISSORY NOTE and commence suit for collection thereof; b) Take possession of the collateral or render it unusable, without notice, except as required by law, provided that said self-help shall be done without breach of peace; c) Request and demand that BORROWER assemble the collateral at an acceptable location for delivery to LENDER; d) Sell or dispose of collateral by sale and pursuant to the law; e) Specifically enforce the terms of the PROMISSORY NOTE and related agreements; f) Foreclose on any real property or appropriate personal property by strict foreclosure in equity; g) Pursue any and all other remedies available under law to enforce the terms of this AGREEMENT and LENDER's rights to COLLATERAL as defined in the SECURITY AGREEMENT, Exhibit C of the LOAN AGREEMENTS. SECTION 7.01 WAIVER OF NOTICE No failure or delay on the part of the LENDER in exercising any right, power, or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power, or remedy preclude any other or further exercise thereof or the exercise of any other right, power, or remedy here under. No modification or waiver of any provision of this AGREEMENT or of the PROMISSORY NOTE, nor any consent to any departure by the BORROWER therefrom, shall in any event be effective unless the same shall be in writing, and then such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given. No notice to or demand on the BORROWER in any case shall entitle the BORROWER to any other or further notice or demand in similar or other circumstances. Loan Agreement Page 9 of 11