SURETY AGREEMENT.
15.3
DISABILITY.
ANY DISABILITY OF BORROWER OR DEFENSE AVAILABLE TO
BORROWER, INCLUDING ABSENCE OR CESSATION OF BORROWER'S LIABILITY FOR ANY REASON
WHATSOEVER.
15.4
DEFENSES.
ANY DEFENSE OR CIRCUMSTANCE WHICH MIGHT OTHERWISE
CONSTITUTE A LEGAL OR EQUITABLE DISCHARGE OF A GUARANTOR OR SURETY, INCLUDING,
WITHOUT LIMITATION, ANY OBLIGATION OF BANK TO PROCEED AGAINST BORROWER PRIOR TO
EXERCISING ITS RIGHTS AGAINST GUARANTOR HEREUNDER.
15.5
POSSESSION/MARSHALLING.
ANY DEMAND FOR POSSESSION OF ANY COLLATERAL
AND ANY AND ALL RIGHTS TO SUBROGATION OR REALIZATION ON ANY OF BORROWER'S
PROPERTY, INCLUDING ANY RIGHT TO REQUIRE OR PARTICIPATE IN THE MARSHALLING OF
BORROWER'S ASSETS.
15.6
TERMINATION.
ANY AND ALL RIGHT TO TERMINATE GUARANTOR'S OBLIGATIONS
HEREUNDER BY DELIVERY OF WRITTEN NOTICE TO BANK OR OTHERWISE.
15.7
LIMITATIONS ON ACTIONS.
ALL BENEFITS UNDER ANY PRESENT OR FUTURE
LAWS EXEMPTING ANY PROPERTY, REAL OR PERSONAL, OR ANY PART OF ANY PROCEEDS
THEREOF, FROM ATTACHMENT, LEVY OR SALE UNDER EXECUTION, OR PROVIDING FOR ANY
STAY OF EXECUTION TO BE ISSUED ON ANY JUDGMENT RECOVERED UNDER ANY OF THE LOAN
DOCUMENTS OR IN ANY REPLEVIN OR FORECLOSURE PROCEEDINGS, OR OTHERWISE PROVIDING
FOR ANY VALUATION, APPRAISAL OR EXEMPTION.
15.8
BOND.
ANY REQUIREMENT FOR BONDS, SECURITY OR SURETIES REQUIRED BY
STATUTE, COURT RULE OR OTHERWISE.
15.9
EXPENSES.
ALL RIGHTS TO CLAIM OR RECOVER ATTORNEY'S FEES AND COSTS
IN THE EVENT THAT GUARANTOR IS SUCCESSFUL IN ANY ACTION TO REMOVE, SUSPEND OR
PREVENT THE ENFORCEMENT OF A JUDGMENT ENTERED BY CONFESSION.
15.10
IMPERFECTIONS.
ANY AND ALL ERRORS, DEFECTS AND IMPERFECTIONS IN ANY
ACTION BY BANK IN REPLEVIN, FORECLOSURE OR OTHER COURT PROCESS OR IN CONNECTION
WITH ANY OTHER ACTION RELATED TO ANY OF THE LOAN DOCUMENTS OR THE TRANSACTIONS
CONTEMPLATED THEREIN.
16.
DELAY OR OMISSION NOT WAIVER.
NEITHER THE FAILURE NOR ANY DELAY
ON THE PART OF BANK TO EXERCISE ANY RIGHT, REMEDY, POWER OR PRIVILEGE UNDER THE
LOAN DOCUMENTS UPON THE OCCURRENCE OF ANY EVENT OF DEFAULT OR OTHERWISE SHALL
OPERATE AS A WAIVER THEREOF OR IMPAIR ANY SUCH RIGHT, REMEDY, POWER OR
PRIVILEGE.
NO WAIVER OF ANY EVENT OF DEFAULT SHALL AFFECT ANY LATER EVENT OF
DEFAULT OR SHALL IMPAIR ANY RIGHTS OF BANK.
NO SINGLE, PARTIAL OR FULL EXERCISE
OF ANY RIGHTS, REMEDIES, POWERS AND PRIVILEGES BY THE BANK SHALL PRECLUDE
FURTHER OR OTHER EXERCISE THEREOF.
NO COURSE OF DEALING BETWEEN BANK AND
BORROWER OR GUARANTOR SHALL OPERATE AS OR BE DEEMED TO CONSTITUTE A WAIVER OF
BANK'S RIGHTS UNDER THE LOAN DOCUMENTS OR AFFECT THE DUTIES OR OBLIGATIONS OF
BORROWER OR GUARANTOR.
17.
BINDING EFFECT.
THIS SURETY AGREEMENT AND ALL RIGHTS AND POWERS
GRANTED HEREBY WILL BIND AND INURE TO THE BENEFIT OF THE PARTIES HERETO AND
THEIR RESPECTIVE SUCCESSORS AND ASSIGNS.
9
18.
PRIOR GUARANTIES.
NOTHING CONTAINED IN THIS SURETY AGREEMENT IS
INTENDED TO RELEASE, SUPERSEDE, MODIFY OR OTHERWISE AFFECT ANY OTHER GUARANTY OR
SURETYSHIP AGREEMENT FROM GUARANTOR TO BANK.
19.
CONSTRUCTION.
FOR PURPOSES OF THIS SURETY AGREEMENT, THE SINGULAR
SHALL BE DEEMED TO INCLUDE THE PLURAL AND THE NEUTER SHALL BE DEEMED TO INCLUDE
THE MASCULINE