the provisions of Chapter 346 of the Texas Finance Code (which
regulates certain revolving loan accounts and revolving tri-party accounts)
apply to the Loan.
2
IN THE EVENT ANY ITEM, ITEMS, TERMS OR PROVISIONS CONTAINED IN THIS INSTRUMENT
ARE IN CONFLICT WITH THE LAWS OF THE STATE OF TEXAS OR FEDERAL LAW, THIS
INSTRUMENT SHALL BE AFFECTED ONLY AS TO ITS APPLICATION TO SUCH ITEM, ITEMS,
TERMS OR PROVISIONS, AND SHALL IN ALL OTHER RESPECTS REMAIN IN FULL FORCE AND
EFFECT.
IT IS UNDERSTOOD AND AGREED THAT IN NO EVENT AND UPON NO CONTINGENCY
SHALL THE BORROWER OR ANY PARTY LIABLE THEREON, OR HEREFORE, BE REQUIRED TO PAY
INTEREST IN EXCESS OF THE RATE ALLOWED BY THE LAWS OF THE STATE OF TEXAS OR
FEDERAL LAW, IF SUCH LAW PERMITS A GREATER RATE OF INTEREST, THE INTENTION OF
THE PARTIES BEING TO CONFORM STRICTLY TO THE USURY LAWS AS NOW OR HEREINAFTER
CONSTRUED BY THE COURTS HAVING JURISDICTION.
THE BORROWER, ENDORSERS, SURETIES, GUARANTORS AND ALL PERSONS TO BECOME LIABLE
ON THIS NOTE (THE "OBLIGORS") HEREBY, JOINTLY AND SEVERALLY, WAIVE EXPRESSLY ALL
NOTICES OF OVERDUE INSTALLMENT PAYMENTS, AND DEMANDS FOR PAYMENT THEREOF,
NOTICES OF INTENTION TO ACCELERATE MATURITY, NOTICES OF ACTUAL ACCELERATION OF
MATURITY, PRESENTMENT, DEMAND FOR PAYMENT, NOTICES OF DISHONOR, PROTEST, NOTICES
OF PROTEST, AND DILIGENCE IN COLLECTION HEREOF.
EACH OBLIGOR CONSENTS THAT THE
LENDER OR OTHER HOLDER OF THIS NOTE MAY AT ANY TIME, AND FROM TIME TO TIME, UPON
REQUEST OF OR BY AGREEMENT WITH ANY OF THEM, RENEW THIS NOTE AND/OR EXTEND THE
DATE OF MATURITY HEREOF OR CHANGE THE TIME OR METHOD OF PAYMENTS WITHOUT NOTICE
TO ANY OF THE OTHER OBLIGORS, MAKERS, SURETIES OR ENDORSERS, WHO SHALL REMAIN
BOUND FOR THE PAYMENT HEREOF.
OBLIGORS WAIVE EXPRESSLY THE LATE FILING OR ANY
SUIT OR CAUSE OF ACTION HEREON, OR ANY DELAY IN THE HANDLING OF ANY
COLLATERAL.
OBLIGORS AGREE THAT HOLDER'S ACCEPTANCE OF PARTIAL OR DELINQUENT
PAYMENTS OR FAILURE OF HOLDER TO EXERCISE ANY RIGHT OR REMEDY CONTAINED HEREIN
OR IN ANY INSTRUMENT GIVEN AS SECURITY FOR THE PAYMENT OF THIS NOTE SHALL NOT BE
A WAIVER OF ANY OBLIGATION OF THE OBLIGORS OR CONSTITUTE WAIVER OF ANY PRIOR OR
SUBSEQUENT DEFAULT.
THE HOLDER MAY REMEDY ANY DEFAULT WITHOUT WAIVING THE
DEFAULT REMEDIED AND MAY WAIVE ANY DEFAULT WITHOUT WAIVING ANY OTHER PRIOR OR
SUBSEQUENT DEFAULT.
To the extent allowed by law, as security for this Note, and all other
indebtedness which may at any time be owing by Borrower (and any endorsers
and/or guarantors hereof) to Lender or other Lender hereof, Borrower (and any
endorsers and/or guarantors hereof) gives to Lender or other Holder hereof, a
security interest, a lien and contractual right of set-off in and to all of the
Borrower's (and any endorsers and/or guarantors hereof) money, credits, deposit
accounts, accounts and/or other property now in, or at any time hereafter coming
within, the custody or control of Lender or other Holder hereof, or any member
bank or branch bank of International Bancshares