THAT THE RIGHT TO
TRIAL BY JURY IS A CONSTITUTIONAL ONE, BUT THAT IT MAY BE WAIVED AND THAT THE
TIME AND EXPENSE REQUIRED FOR TRIAL BY A JURY MAY EXCEED THE TIME AND EXPENSE
REQUIRED FOR TRIAL WITHOUT A JURY.
BORROWER, AFTER CONSULTING (OR HAVING HAD
THE OPPORTUNITY TO CONSULT) WITH COUNSEL OF BORROWER'S CHOICE, KNOWINGLY AND
VOLUNTARILY, AND FOR THE MUTUAL BENEFIT OF LENDER AND BORROWER, WAIVES ANY RIGHT
TO TRIAL BY JURY IN THE EVENT OF LITIGATION REGARDING THE PERFORMANCE OR
ENFORCEMENT OF, OR IN ANY WAY RELATED TO, THIS AGREEMENT, THE NOTE, THE SECURITY
AGREEMENTS, THE LOAN DOCUMENTS AND ANY RELATED AGREEMENTS, OR OBLIGATIONS
THEREUNDER.
BORROWER HAS READ ALL OF THIS AGREEMENT AND UNDERSTANDS ALL OF THE
PROVISIONS OF THIS AGREEMENT.
BORROWER ALSO AGREES THAT COMPLIANCE BY LENDER
WITH THE EXPRESS PROVISIONS OF THIS AGREEMENT SHALL CONSTITUTE GOOD FAITH AND
SHALL BE CONSIDERED REASONABLE FOR ALL PURPOSES.
Section 10.11:
Counterparts.
This Agreement may be executed in several
counterparts, each of which shall be deemed an original and all of which shall
constitute but a single instrument.
IN WITNESS WHEREOF, Lender and Borrower have entered into this Agreement as of
the date first set forth above.
LENDER: Anchor Bank Saint Paul, N.A.
By:
;
Its:
.
BORROWER: Ballistic Recovery Systems, Inc.
/s/ Larry E. Williams
By:
Larry E. Williams;
Its:
Chief Executive Officer / President.
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