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4. INiFAULTUNU ER LOAN UOCUR I1•:MI;S. In the even of Ally&rit Ly Owner ur Dotrower of ally Oh 1ignliu i to Lender,uuder any promissory note
<br /> or luno document, Lender shall hive lite right to enter Ill.Icnsed pt emises wilhuul nolice to Owner or 11-rover mrd take ncliou accessory to pmteet it,
<br /> cullAlernl including, hill uul liwilcd In, the lidlusving: (n) reol—c all personal prupelly or removable lixlures or Uwuer which are subject to Lenfler's
<br /> security interest; (b)inventory, ndvcrlise and sell upon the lensed premises any personal prr mI , And fixtures ur Owucr which umn be subject to
<br /> uiu's sour'1y interest; or (c)taercise Lcuder's riglns its holder or lite Lease And arrange fur I ia subseyucul nssignneni of lite Anse to A third
<br /> Acceptable les Lcudcr mid the Assumption of lie liabilities under lite Lease by n third pnrty. hl Ile evert Lender lakes [lie ncliou described
<br /> .e, h-undcr shall Gave nu ubligntion to Owner other Ihnn lin ole payment of rent ill Lessor wider the Lense during lite tine Lewder is Actually
<br /> cupying the leased premises.
<br /> 5. I-f-AWINATION.'fhis Agreemenl shall rmunin in fill force And effect until Lender provides Owner wish wsincs,utjtice orlenuinntion.
<br /> G. ASSIGNMENT. Owner sBAll nut be cmlitled In nssigm Any or its rights, remedies in Obligations dcscribcd ill this Agreement wilhoul the prior writtcu
<br /> consort of Lendcr which may Ire withheld by Lender io its sole discretion. Lender shall he entitled to.assign some or all of its rights And remedies
<br /> described in this Agreement without notice to or the prior consent of Owner in Ally manner.
<br /> 7. RIO III FICA•IIONAN1) WAIVER. The 11 lificnliun or waiver of Ally of Owner's OBlignliuus or Lcoder's rights under.this Agreement must be
<br /> cunlniucd in a writing signed by Lender. Lender cony perform Any of Owner's Obligations or delay or fail to exercise ally of its rights without causing a
<br /> wniver of those Obligations or ripWs. A waiver on one occasion shall not constitute A waiver un ally other occasion. Owncr's oblp�ationa under this
<br /> Agrecunan shall not be affected rf Lcnder nnrends, cungrronrfses, exchmtges, fails to exercise, impairs or rclenses,nny ofibe Obligations Belonging to
<br /> ally Uwuer or guarnutor or Any of its rights Against nay Owner,gunranlur or eulluteral.
<br /> 8. SUCCESSORS AND ASSIGNS. 'Ibis Agreement shall be hinding upon And inure it) Ilse benclit or Uwuer And Lcudcr And their respective
<br /> successors,assigns,trustees,receivers, olminisltalurs,personal representatives,legatees,And devisees.
<br /> 9. NOTICES, Any notice or other cununumication to he provided under (his Agrecimma shall be in wmilimg mud sent to the parties nl the Addresses
<br /> described in this Agreement or such other Address as the patties may desigunte in writing from lime to lime by notice heretmuler.
<br /> It), SEVERAIIIIATY.Ifnuy provision of this Agrecmcut violates the Inv or is uncufoicenbhe, the rest of le Agrcamud slmll rennin valid.
<br /> If. AI'1'LICAIII.ELAW.ILis Agreemenl Shull he governed by the Iowa of the slate of the location of Ile premises. Owner cuusmns to Ilse jurisdiclimr
<br /> and venue of Ally coutt located in such stale in the event of nay legal prucetdiug under this Agrecmcut.
<br /> 12, MISCELLANEOUS. All rerereoces in Owucr in this Agreement shall include nil perilous signing Above. if llere is more than one owner, their
<br /> obligations shall Be joint And several. Omser wolves any right les n jury trial Owucr may have under applicnble Ino•. Ibis Agreement And Ally
<br /> related docomeols represcol lite cuutplete mud integrated undemanding between Owner mud Lender pulniuing Io Ile terms and coudiliots of Ihuse
<br /> docuocnts. This Agrecmcut superxcdcs nod replaces all prior oral conversations And negotiations urUro parties And cony not be auendcd, except in
<br /> writing executed by All parties. This Agreement has been executed in several couulerpmis,ally one orwhich nmy be tleeued nn original.
<br /> 13, ADDITIONAL TERMS:
<br /> Slate of Arknnsns
<br /> County of .----_----�—
<br /> On this ilre day of ,before we, lite undersigned
<br /> officer,personally Appeared _—
<br /> known to me (or satisfnclorily proven) to be lite persou(s) whose nnme(s) subscribed to (lie within
<br /> hiL,I and acknowledged Ilia lie executed the snore for the purposes therein contained•
<br /> in wilness whereof 1 hereunto set lily hand nmol orlicial seal.
<br /> Title of Officer
<br /> State of Arknnsns
<br /> County or INDEPENDENCE
<br /> On tris fie 24th day or APRIL, 2000 before Ata, LEANN JOHNSON Use wrdcrsigncd
<br /> officer,personally appeared DANNY AND CATHY DOZIERwho eckuowledged XAGmnIbU lu be the OFFICERS sf
<br /> LOCKHOUSE, INC. �a CORPORATION And IllApliti, ns such OFFICERS being authorized
<br /> so to lin, executed (lie foregoing instrument for the purposes therein contained, By signing thCORPORe name or lite •�)Ljby himself As
<br /> PRESIDENT AND SECRETARY �P M E+Asp
<br /> ooM
<br /> In witness whereof I hereunto set my hand And official Beni. v 2
<br /> TARY
<br /> MY COMMISSION EXPIRES: 11/28/2000 NOTARY PUBLIC PUBLIC
<br /> Title of Officer , p
<br /> ACCIsi''1'ANL'E OF LI?SSOII COUNT
<br /> 'Phis ncecpinnce is executed this 24th_day of April, 2000 _ ,by she undersigucd as Lessor under lite Lease described heiciu.
<br /> I. Lessor Agrees mud consents les lite assignment to Lntder or Owner's interest as tenant under Ilia Lease mud represents Ibal (lie Lease is currently
<br /> valid and cufurcenble nccurding to its terms And IhAI Owner is not presently in dcroull undcr Ibe Lease. Lessor further represcuis stmt it is lite uwoer of
<br /> the Icnsed premises mod has full power mid Authority to enter into this Agreement. Lessor Agrees les Allow Lender to occupy file premises And
<br /> .mise uts In n ucw tenant chosen by Lcudcr if rensunably mccepinble to Lessur.
<br /> 2. Lessor agrccs Ilua duriug Ibe lean of lite ase;p u,ot or Is. Lease by Owner to Lendcr no modifications or iernsinntion or the Lcase will be--`
<br /> ouderhrkur widruul first obiniuing lire written consent of Lender. s
<br /> 7. In Ibe even or Owner's deraull uuder Ibe Lease, Lessur agrees 1.uolify Leader if such defnull in writing nl lenss sixty(60)days prior les taking --loo
<br /> to tar siunle lite Lease or euf rec Any of Lessor's righla undcr the Lease. During This sixty-flay period, Lender ehnlf have lire option to cure lite defnull
<br /> or take such other ncliou ns nmy be necessary to protect Lender's security futerest in[lie Lease and Ally personal properly And fixtures or Owner which
<br /> may secure any obligation of Owner to Lender.
<br /> 4. Lessor agrees to suborlinme Ally lien•it may have or subsequently Acquire upon any personal property or fixtures of Owner which may be subject to
<br /> any sccmily interest of Lender until such lime ns this Assignment is Imillunted,
<br /> Lessor ackuowledgcs Ihal it has end will lreuclil es A result or'Ile
<br /> linaucinl neeonuuodmit 5 extended to Owner by Lcudcr mid IbA, Lcudcr will rely
<br /> e nccepence.
<br /> LESSOR: CITY OF BATESVILLE LESSOR:
<br /> BY
<br /> OE BIARD, MAYOR
<br />
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