FOR SUCH SUMS AS ARE DUE AND/OR MAY BECOME DUE
ON THE OBLIGATIONS EVIDENCED BY THIS AGREEMENT TOGETHER WITH INTEREST AND COSTS
OF SUIT, INCLUDING ACTUAL REASONABLE ATTORNEY'S FEES INCURRED BY REASON OF SUCH
DEFAULT AND IN COLLECTION OF THE AFORESAID OBLIGATIONS, AND/OR (B) IN ANY ACTION
OF REPLEVIN INSTITUTED BY COACTIV TO OBTAIN POSSESSION OF ANY COLLATERAL
SECURING THE LOAN, THE NOTE OR SECURING ANY OF THE OBLIGATIONS, IN EITHER CASE
WITH OR WITHOUT DECLARATION, WITH COSTS OF SUIT, WITHOUT STAY OF EXECUTION AND
WITH AN AMOUNT, FOR LIEN PRIORITY PURPOSES, EQUAL TO THE AMOUNT OF SUCH
JUDGMENT, PLUS ACTUAL ATTORNEY'S COLLECTION FEES.
TO THE EXTENT PERMITTED BY
LAW, BORROWERS:
(1) WAIVE THE RIGHT OF INQUISITION ON ANY REAL ESTATE LEVIED
ON, VOLUNTARILY CONDEMN THE SAME, AUTHORIZE THE PROTHONOTARY OR CLERK TO ENTER
UPON THE WRIT OF EXECUTION;
(2) WAIVE AND RELEASE ALL RELIEF FROM ALL
REDEMPTION, APPRAISEMENT, STAY, EXEMPTION, OR APPEAL LAWS OF ANY STATE NOW IN
FORCE OR HEREAFTER ENACTED; AND (3) RELEASE ALL ERRORS IN SUCH PROCEEDINGS.
IF
A COPY OF THIS AGREEMENT, VERIFIED BY AFFIDAVIT, BY OR ON BEHALF OF COACTIV
SHALL HAVE BEEN FILED IN SUCH ACTION, IT SHALL NOT BE NECESSARY TO FILE THE
ORIGINAL OF THIS AGREEMENT AS A WARRANT OF ATTORNEY.
THE AUTHORITY AND POWER TO
APPEAR FOR AND ENTER JUDGMENT AGAINST BORROWERS SHALL NOT BE EXHAUSTED BY THE
INITIAL EXERCISE THEREOF, AND THE SAME MAY BE EXERCISED, FROM TIME TO TIME, AS
OFTEN AS COACTIV MAY DEEM NECESSARY AND DESIRABLE, AND THIS AGREEMENT SHALL BE A
SUFFICIENT WARRANT THEREFOR.
COACTIV MAY ENTER ONE OR MORE JUDGMENTS IN THE
SAME OR DIFFERENT JURISDICTIONS FOR ALL OR PART OF BORROWERS' RESPECTIVE
OBLIGATIONS, WITHOUT REGARD TO WHETHER JUDGMENT HAS THERETOFOR BEEN ENTERED ON
MORE THAN ONE OCCASION FOR THE SAME OBLIGATIONS.
IN THE EVENT ANY JUDGMENT
ENTERED AGAINST BORROWERS HEREUNDER IS STRICKEN OR OPENED UPON APPLICATION BY OR
ON BORROWERS BEHALF FOR ANY REASON WHATSOEVER, COACTIV IS HEREBY AUTHORIZED AND
EMPOWERED TO AGAIN APPEAR FOR AND CONFESS JUDGMENT AGAINST BORROWERS FOR ANY
PART OR ALL OF THE OBLIGATIONS; INCLUDING, WITHOUT LIMITATION, A SUBSEQUENT
ENTRY OR ENTRIES OF JUDGMENT BY COACTIV TO CURE ANY ERROR OR DEFECTS IN SUCH
PRIOR PROCEEDINGS.
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A FAXED COPY OF THIS DOCUMENT SHALL BE ACCEPTED AS A LEGAL AND BINDING AGREEMENT
PENDING RECEIPT OF THE EXECUTED ORIGINAL HEREOF WHICH IS REQUIRED TO BE
IMMEDIATELY FORWARDED TO COACTIV VIA OVERNIGHT DELIVERY UPON ITS FULL EXECUTION.
IN WITNESS WHEREOF, the parties hereto, expressly intending to be legally bound,
have caused their duly authorized representatives to sign this Agreement as of
the above day and date.
WITNESS/ATTEST:
Borrowers:
Pure Earth, Inc., Juda Construction,
Ltd.,
and Pure Earth Materials, Inc.
By:
/s/ Deborah J. Salvi
/s/
Brent Kopenhaver
Name: Deborah J. Salvi
Name:
Brent Kopenhaver
Title: Office Manager
Title: CFO
CoActiv Capital Partners, Inc.
/s/ Gregory Kalescky
Name: Gregory Kalescky
Title: Vice President
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