shall constitute one and the same document.
Each party hereto agrees to be bound by its facsimile or pdf signature.
12.
CONFESSION OF JUDGMENT.
UPON THE OCCURRENCE OF AN EVENT OF DEFAULT UNDER
THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, AND FOLLOWING THE EXPIRATION OF ANY
APPLICABLE NOTICE AND CURE PERIOD, THE BORROWER HEREBY AUTHORIZES GEORGE PITTS,
ESQ., CHARLES V. MEHLER, III, OR ANY OTHER ATTORNEY WITH THE LAW FIRM OF
DICKSTEIN SHAPIRO LLP ADMITTED TO PRACTICE IN THE COMMONWEALTH OF VIRGINIA TO
APPEAR ON BEHALF OF THE BORROWER IN THE CLERKS OFFICE OF FAIRFAX COUNTY,
VIRGINIA OR IN ANY OTHER COURT IN ONE OR MORE PROCEEDINGS, OR BEFORE ANY OTHER
CLERK THEREOF OR PROTHONOTARY OR OTHER COURT OFFICIAL, AND TO CONFESS JUDGMENT
AGAINST THE BORROWER IN FAVOR OF LENDER IN THE FULL AMOUNT DUE UNDER THIS
AGREEMENT AND THE OTHER LOAN DOCUMENTS (INCLUDING PRINCIPAL, ACCRUED INTEREST
AND ANY AND ALL CHARGES, FEES AND COSTS) PLUS ATTORNEYS' FEES EQUAL TO FIFTEEN
PERCENT (15%) OF THE AMOUNT DUE, PLUS COURT COSTS, ALL WITHOUT PRIOR NOTICE OR
OPPORTUNITY OF THE BORROWER FOR PRIOR HEARING.
ADDITIONALLY, THE BORROWER
HEREBY AGREES AND CONSENTS THAT VENUE AND JURISDICTION SHALL BE PROPER IN ANY
STATE OR FEDERAL COURT LOCATED IN FAIRFAX COUNTY, VIRGINIA.
THE BORROWER WAIVES
THE BENEFIT OF ANY AND EVERY STATUTE, ORDINANCE, OR RULE OF COURT WHICH MAY BE
LAWFULLY WAIVED CONFERRING UPON THE BORROWER ANY RIGHT OR PRIVILEGE OF
EXEMPTION, HOMESTEAD RIGHTS, STAY OF EXECUTION, OR SUPPLEMENTARY PROCEEDINGS, OR
OTHER
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RELIEF FROM THE ENFORCEMENT OR IMMEDIATE ENFORCEMENT OF A JUDGMENT OR RELATED
PROCEEDINGS ON A JUDGMENT.
THE AUTHORITY AND POWER TO APPEAR FOR AND ENTER
JUDGMENT AGAINST THE BORROWER SHALL NOT BE EXHAUSTED BY ONE OR MORE EXERCISES
THEREOF, OR BY ANY IMPERFECT EXERCISE THEREOF, AND SHALL NOT BE EXTINGUISHED BY
ANY JUDGMENT ENTERED PURSUANT THERETO; SUCH AUTHORITY AND POWER MAY BE EXERCISED
ON ONE OR MORE OCCASIONS FROM TIME TO TIME, IN THE SAME OR DIFFERENT
JURISDICTIONS, AS OFTEN AS LENDER SHALL DEEM NECESSARY, CONVENIENT, OR PROPER.
NOTWITHSTANDING THE FOREGOING, THE LENDER ACKNOWLEDGES THAT ATTORNEYS' FEES ARE
STATED TO BE FIFTEEN PERCENT (15%) SOLELY FOR THE PURPOSE OF FIXING A SUM
CERTAIN FOR WHICH JUDGMENT CAN BE ENTERED BY CONFESSION, AND THE LENDER AGREES
THAT IN ENFORCING ANY SUCH JUDGMENT BY CONFESSION, THE LENDER SHALL NOT COLLECT,
SOLELY WITH RESPECT TO ATTORNEYS' FEES INCURRED BY LENDER IN CONNECTION WITH
SUCH INDEBTEDNESS, ANY AMOUNTS IN EXCESS OF THE ACTUAL AMOUNT OF ATTORNEYS' FEES
AND EXPENSES REASONABLY CHARGED OR BILLED TO THE LENDER.
[The Remainder of This Page Intentionally Left Blank]
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IN WITNESS WHEREOF, the Borrower has executed this Agreement under seal as of
the date and year first above written.
WITNESS:
BORROWER:
EAGLE BANCORP, INC., a Maryland corporation
By:
(SEAL)
Name:
Title:
LENDER:
UNITED BANK, a Virginia banking corporation
By:
Name:
Title:
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