right and lawful
authority to assign and endorse the Loan Documents.
Nothing herein shall
require Lender to postpone the Line of Credit Maturity Date or the Term Date
Maturity Date or otherwise waive or compromise any of its rights and/or remedies
under any of the Loan Documents unless and until all indebtedness evidenced and
secured thereby is paid in full and no further commitment on the part of the
Lender exists to extend or advance additional financing to the Borrower pursuant
to the terms of the Loan Documents.
11.17 WAIVER OF TRIAL BY JURY.
BORROWER AND LENDER HEREBY SEVERALLY,
VOLUNTARILY, KNOWINGLY AND INTELLIGENTLY WAIVE ANY AND ALL RIGHTS TO TRIAL BY
JURY AND WAIVE THE RIGHT TO CLAIM OR RECEIVE CONSEQUENTIAL OR PUNITIVE DAMAGES
IN ANY ACTION OR PROCEEDING BASED UPON, ARISING OUT, OF OR IN CONNECTION WITH,
OR IN ANY WAY RELATING TO, DIRECTLY OR INDIRECTLY, THE LOANS EVIDENCED HEREBY,
THIS CREDIT AGREEMENT, THE NOTE, THE MORTGAGE OR ANY OTHER LOAN DOCUMENT, ANY
COLLATERAL THEREFOR, AND/OR ANY RELATIONSHIP, COURSE OF CONDUCT OR DEALINGS OR
NEGOTIATIONS BETWEEN BORROWER AND LENDER, PERTAINING TO ANY OF THE FOREGOING,
REGARDLESS OF WHETHER SUCH ACTION OR PROCEEDING CONCERNS ANY CONTRACTUAL OR
TORTIOUS OR OTHER CLAIM.
EACH OF BORROWER SEVERALLY ACKNOWLEDGE THAT THIS
WAIVER OF JURY TRIAL AND CONSEQUENTIAL AND PUNITIVE DAMAGES IS A MATERIAL
INDUCEMENT TO LENDER IN EXTENDING THE CREDIT EVIDENCED HEREBY AND THE SWAP
COUNTERPARTIES ENTERING INTO THE HEDGING AGREEMENTS, THAT LENDER WOULD NOT HAVE
EXTENDED SUCH CREDIT WITHOUT THIS WAIVER, AND THAT EACH PARTY HAS BEEN
REPRESENTED BY INDEPENDENT LEGAL COUNSEL, SELECTED BY SUCH PARTY'S OWN FREE
WILL, OR HAS HAD AN OPPORTUNITY TO CONSULT WITH INDEPENDENT LEGAL COUNSEL IN
CONNECTION WITH THIS CREDIT AGREEMENT AND UNDERSTANDS THE LEGAL EFFECT OF THIS
WAIVER.
11.18 BALLOON PAYMENT.
THIS AGREEMENT PROVIDES FOR A BALLOON PAYMENT.
BORROWER
ACKNOWLEDGES THAT LENDER HAS NOT AGREED TO REFINANCE THAT PAYMENT.
11.19 USA Patriot Act Notice.
Federal law requires all financial institutions
to obtain, verify and record information that identifies each person who obtains
a loan.
Lender will ask for the Borrower's legal name, address, tax ID number
or social security number and other identifying information.
Lender may also
ask for additional information or documentation or take other actions reasonably
necessary to verify the identity of Borrower, any guarantors or other related
persons.
11.20 ORAL AGREEMENTS OR COMMITMENTS.
NOTICE IS HEREBY GIVEN TO MAKER THAT
ORAL AGREEMENTS OR ORAL COMMITMENTS TO LEND MONEY, EXTEND CREDIT, MODIFY LOAN
TERMS OR FORBEAR FROM ENFORCING REPAYMENT OF A DEBT ARE NOT ENFORCEABLE PURSUANT
TO FLORIDA STATUTES SECTION 687.304 AS AMENDED OR RENUMBERED FROM TIME TO TIME.
APPLICABLE DOCUMENTARY STAMP TAXES HAVE BEEN PAID AND AFFIXED TO THE MORTGAGE
SECURING THE OBLIGATIONS
The parties have signed this agreement effective as of the day and year first
written above.
BORROWER
Alico, Inc., a Florida corporation
By:
/S/ JD Alexander
Its:
Chief Executive Officer
Alico-Agri, Ltd., a Florida limited partnership
By:
Alico, Inc., a Florida corporation,
its General Partner
By:
/S/ JD Alexander
Its: