BINDING ON IT IN EVERY
RESPECT.
PLEDGOR HEREBY AGREES THAT SERVICE UPON IT BY MAIL SHALL CONSTITUTE
SUFFICIENT NOTICE.
NOTHING HEREIN SHALL AFFECT THE RIGHT TO SERVE PROCESS IN
ANY OTHER MANNER PERMITTED BY LAW OR SHALL LIMIT THE RIGHT OF THE LENDER TO
BRING PROCEEDINGS AGAINST PLEDGOR IN THE COURTS OF ANY OTHER JURISDICTION.
(X)
THE TERMS, WARRANTIES AND AGREEMENTS CONTAINED IN THIS SECURITY
AGREEMENT SHALL BIND AND INURE TO THE BENEFIT OF THE PARTIES HERETO, AND THEIR
RESPECTIVE SUCCESSORS AND PERMITTED ASSIGNS.
(XI)
THIS SECURITY AGREEMENT MAY NOT BE CHANGED ORALLY, BUT MAY BE
CHANGED ONLY BY AN AGREEMENT IN WRITING SIGNED BY THE PARTIES AGAINST WHOM
ENFORCEMENT OF ANY WAIVER, CHANGE, MODIFICATION OR DISCHARGE IS SOUGHT.
(XII)
CAPTIONS ARE INSERTED ONLY AS A MATTER OF CONVENIENCE AND FOR
REFERENCE AND IN NO WAY DEFINE, LIMIT OR DESCRIBE THE SCOPE OF THIS SECURITY
AGREEMENT OR THE INTENT OF ANY PROVISION HEREOF.
THE GENDER AND NUMBER USED IN
THIS SECURITY AGREEMENT ARE USED AS REFERENCE TERMS ONLY AND SHALL APPLY WITH
THE SAME EFFECT WHETHER THE PARTIES ARE OF THE MASCULINE OR FEMININE GENDER,
CORPORATE OR OTHER FORM, AND THE SINGULAR SHALL LIKEWISE INCLUDE THE PLURAL.
IF
THERE SHALL BE MORE THAN ONE PLEDGOR, THEIR LIABILITY SHALL BE JOINT AND
SEVERAL.
(XIII)
ANY PROVISION IN THIS SECURITY AGREEMENT DECLARED INVALID UNDER ANY
LAW SHALL NOT INVALIDATE ANY OTHER PROVISION OF THIS SECURITY AGREEMENT.
THIS
SECURITY AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE COMMONWEALTH OF VIRGINIA, WITHOUT REGARD TO CONFLICTS OF LAWS
PROVISIONS.
(XIV)
THIS SECURITY AGREEMENT MAY BE EXECUTED IN ANY NUMBER OF COUNTERPARTS,
EACH OF WHICH SHALL BE DEEMED AN ORIGINAL AND ALL OF WHICH TAKEN TOGETHER SHALL
BE DEEMED ONE AND THE SAME INSTRUMENT.
(XV)
NOTICES TO EITHER PARTY SHALL BE IN WRITING AND SHALL BE DELIVERED
PERSONALLY OR BY MAIL ADDRESSED TO THE PARTY AT THE ADDRESS AND IN THE MANNER
SET FORTH IN THE LOAN AGREEMENT OR AS OTHERWISE DESIGNATED IN WRITING.
IN WITNESS WHEREOF, the parties have respectively signed and sealed these
presents on the day and year first above written.
ATTEST:
Pledgor/Borrower:
EAGLE BANCORP, INC., a Maryland corporation
By:
(SEAL)
Name:
Title:
LENDER:
UNITED BANK, a Virginia banking corporation
By:
Name:
Title:
6
SCHEDULE A TO STOCK SECURITY AGREEMENT
All of the right, title and interest of Pledgor in and to all of the capital
stock of the companies listed below (collectively, the "Companies"), whether
common and/or preferred, and whether now or hereafter issued or outstanding, and
whether now or hereafter acquired by Pledgor, together with all voting or other
rights appurtenant thereto, including, but not limited to, the right to receive
all dividends and/or other distributions payable to Pledgor by virtue of
Pledgor's ownership of such capital stock, and all proceeds thereof, additions
thereto and substitutions thereof.
Company
Number of Shares
Percentage
EagleBank, a Maryland banking corporation
46,250
100
%
7