Common use of Confessed Judgment Clause in Contracts

Confessed Judgment. Upon the occurrence of a default in the payment of the whole or any part of the debt evidenced hereby beyond any applicable notice and cure period, or if an Event of Default (as defined in the Deed of Trust) be made in the performance of any of the terms, agreements, covenants, or conditions contained herein or contained in the Additional Guaranty, the Deed of Trust or in any Loan Document, Borrower authorizes and empowers any attorney or any clerk of any court of record in the United States of America to appear on behalf of Borrower in any court having jurisdiction, in one or more proceedings, or before any clerk thereof or other court official, and TO CONFESS JUDGMENT AGAINST BORROWER, WITHOUT PRIOR NOTICE OR OPPORTUNITY OF BORROWER FOR PRIOR HEARING, in favor of Lender or the Holder for and in the amount of the unpaid Principal Sum, all interest accrued and unpaid thereon, all other amounts due and payable by Borrower to Lender or the Holder under the terms of this Note, court costs, expenses, and attorneys’ fees of five percent (5%) of the total amount then due hereunder. Notwithstanding the Lender’s right to the attorneys’ fees described above in connection with any confession of judgment proceeding, the Lender may only collect such actual reasonable attorneys’ fees and expenses that are incurred by its counsel in connection therewith, and upon payment of the amount of the judgment, including such actual reasonable attorneys’ fees and expenses, the judgment shall be considered satisfied. Borrower waives and releases, to the extent permitted by applicable law, the benefit of any and every statute, ordinance, rule of court and all errors and all rights of exemption, appeal, stay of execution, inquisition, other relief from the enforcement or immediate enforcement of a judgment or related proceedings on a judgment, and other rights to which Borrower may otherwise be entitled under the laws of the United States of America or of any state or possession of the United States of America now in force or which may hereafter be enacted. The authority and power to appear for and enter judgment against 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 or the Holder shall deem necessary or advisable, for all of which this Note shall be sufficient authority.

Confessed Judgment. (a) The Borrower hereby appoints and designates Char▇▇▇ ▇. ▇▇▇lish, Jr. Esquire, as its duly constituted attorney-in-fact to confess judgment against the Borrower pursuant to the provisions hereof and of Section 8.01-432 of the Code of Virginia of 1950, as amended, which judgment shall be confessed in the Clerk's Office of the Circuit Court of Fairfax County, Virginia. The Borrower shall, upon the Lender's request, name such additional or alternative persons designated by the Lender as the Borrower's duly constituted attorney or attorneys-in-fact to confess judgment against the Borrower in accordance with the terms hereof. Furthermore, upon the Lender's request, the Borrower shall agree to the designation of any additional circuit courts in the Commonwealth of Virginia in which judgment may be confessed against the Borrower. (b) Upon the occurrence of a default in the payment of the whole or any part of the debt evidenced hereby beyond any applicable notice and cure period, or if an Event of Default (as defined in the Deed of Trust) be made in the performance of any of the terms, agreements, covenants, or conditions contained herein or contained in the Additional GuarantyDefault, the Deed of Trust or in any Loan Document, Borrower hereby authorizes and empowers any attorney the above designated attorney-in-fact or any clerk of any court of record in successor named therefor to confess judgment against the United States of America to appear on behalf of Borrower in any court having jurisdiction, in one or more proceedings, or before any clerk thereof or other court official, and TO CONFESS JUDGMENT AGAINST BORROWER, WITHOUT PRIOR NOTICE OR OPPORTUNITY OF BORROWER FOR PRIOR HEARING, in favor of Lender or the Holder for and in the amount of the unpaid Principal Sum, all interest accrued and unpaid thereon, and all other amounts due and payable by the Borrower to the Lender or the Holder under the terms of this NoteNote or any of the other Financing Documents, together with court costs, expenses, costs and attorneys’ ' fees of five fifteen percent (515%) of the total amount unpaid Principal Sum and interest then due hereunder. Notwithstanding the Lender’s right to the attorneys’ fees described above in connection with any confession of judgment proceeding, the Lender may only collect such actual reasonable attorneys’ fees and expenses that are incurred by its counsel in connection therewith, and upon payment of the amount of the judgment, including such actual reasonable attorneys’ fees and expenses, the judgment shall be considered satisfied. The Borrower waives and hereby releases, to the extent permitted by applicable law, the benefit of any and every statute, ordinance, rule of court and all errors and all rights of exemption, appeal, stay of execution, inquisition, other relief from the enforcement or immediate enforcement of a judgment or related proceedings on a judgment, and other rights to which Borrower the Borrowers may otherwise be entitled under the laws of the United States of America or of any state or possession of the United States of America now in force or which may hereafter be enacted. The authority and power to appear for and enter judgment against the Borrower shall not be exhausted by one or more exercises thereof, thereof or by any imperfect exercise thereof, 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 or the Holder shall deem necessary or advisable, for all of which this Note shall be sufficient authority.Such

Confessed Judgment. Upon the occurrence of a default in the payment of the whole or any part of the debt evidenced hereby beyond any applicable notice and cure period, or if an Event of Default (as defined in the Deed of Trust) be made in the performance of any of the terms, agreements, covenants, or conditions contained herein or contained in the Additional GuarantyDefault, the Deed of Trust or in any Loan Document, Borrower hereby authorizes and empowers any attorney designated by the Lender or any clerk of any court of record in the United States of America to appear on behalf of for the Borrower in any court having jurisdiction, in one or more proceedings, or before any clerk thereof or other court official, of record and TO CONFESS JUDGMENT AGAINST BORROWER, WITHOUT PRIOR NOTICE OR OPPORTUNITY OF BORROWER FOR PRIOR HEARING, to confess judgment without prior hearing against the Borrower in favor of the Lender or the Holder for and in the amount of the unpaid Principal Sum, all interest accrued and unpaid thereon, all other amounts due and payable by the Borrower to the Lender or the Holder under the terms of this NoteNote or any of the other Loan Documents, court costs, expensescosts of suit, and attorneys’ ' fees of five percent (5%) of the total amount unpaid Principal Sum and interest then due hereunder. Notwithstanding any other provision of this Section 10, the Lender’s right Lender acknowledges that attorneys' fees are stated to be five percent (5%) solely for purposes of fixing a sum certain for which judgment can be entered by confession; the Lender agrees that in enforcing any judgment by confession, Lender shall not demand, solely with respect to attorneys’ ' fees described above incurred by the Lender in connection with such indebtedness after such judgment is rendered, any confession of judgment proceeding, the Lender may only collect such actual reasonable attorneys’ fees and expenses that are incurred by its counsel amounts in connection therewith, and upon payment excess of the actual aggregate amount of attorneys' fees charged or billed to the judgment, including such actual reasonable attorneys’ fees and expenses, the judgment shall be considered satisfiedLender. The Borrower waives and hereby releases, to the extent permitted by applicable law, the benefit of any and every statute, ordinance, rule of court and all errors and all rights of exemption, appeal, stay of execution, inquisition, other relief from the enforcement or immediate enforcement of a judgment or related proceedings on a judgment, and other rights to which the Borrower may otherwise be entitled under the laws of the United States of America or of any state or possession of the United States of America now in force or which may hereafter be enacted. The authority and power to appear for and enter judgment against the Borrower shall not be exhausted by one or more exercises thereof, thereof or by any imperfect exercise thereof, thereof and shall not be extinguished by any judgment entered pursuant thereto. Such authority and power may be exercised on one or more occasions, occasions or from time to time, time in the same or different jurisdictions as often as the Lender or the Holder shall deem necessary or advisabledesirable, for all of which this Note shall be a sufficient authoritywarrant.

Confessed Judgment. Upon the occurrence of a default in the payment of the whole or any part of the debt evidenced hereby beyond any applicable notice and cure period, or if an Event of Default (as defined in the Deed of Trust) be made in the performance of any of the terms, agreements, covenants, or conditions contained herein or contained in the Additional GuarantyDefault, the Deed of Trust or in any Loan Document, Borrower hereby authorizes and empowers any attorney designated by the Lender or any clerk of any court of record in the United States of America to appear on behalf of for the Borrower in any court having jurisdiction, in one or more proceedings, or before any clerk thereof or other court official, of record and TO CONFESS JUDGMENT AGAINST BORROWER, WITHOUT PRIOR NOTICE OR OPPORTUNITY OF BORROWER FOR PRIOR HEARING, confess judgment without prior hearing against the Borrower in favor of the Lender or the Holder for and in the amount of the unpaid Principal Sum, all interest accrued and unpaid thereon, all other amounts due and payable by the Borrower to the Lender or the Holder under the terms of this NoteNote or any of the other Financing Documents, court costs, expensescosts of suit, and attorneys’ fees of five fifteen percent (515%) of the total amount unpaid Principal Sum and interest then due hereunder. Notwithstanding By its acceptance of this Note, the Lender agrees that in the event the Lender exercises at any time its right to confess judgment under this Note, the Lender shall use its best efforts to obtain legal counsel who will charge the Lender for its services on an hourly basis, at its customary hourly rates and only for the time and reasonable expenses incurred. In no event shall the Lender enforce the legal fees portion of a confessed judgment award for an amount in excess of the fees and expenses actually charged to the Lender for services rendered by its counsel in connection with such confession of judgment and/or the collection of sums owed to the Lender’s right to . In the event the Lender receives, through execution upon a confessed judgment, payments on account of attorneys’ fees described above in connection with any confession excess of judgment proceeding, the Lender may only collect such actual reasonable attorneys’ fees and expenses that are incurred by its counsel the Lender, then, after full repayment and satisfaction of all of the obligations under and in connection therewithwith this Note, the Financing Agreement and upon payment all of the amount of the judgment, including such actual reasonable attorneys’ fees and expensesother Financing Documents, the judgment Lender shall be considered satisfiedrefund such excess amount to the Borrower. The Borrower waives and hereby releases, to the extent permitted by applicable law, the benefit of any and every statute, ordinance, rule of court and all errors and all rights of exemption, appeal, stay of execution, inquisition, other relief from the enforcement or immediate enforcement of a judgment or related proceedings on a judgment, and other rights to which the Borrower may otherwise be entitled under the laws of the United States of America or of any state or possession of the United States of America now in force or which may hereafter be enacted. The authority and power to appear for and enter judgment against the Borrower shall not be exhausted by one or more exercises thereof, thereof or by any imperfect exercise thereof, thereof and shall not be extinguished by any judgment entered pursuant thereto. Such authority and power may be exercised on one or more occasions, occasions or from time to time, time in the same or different jurisdictions as often as the Lender or the Holder shall deem necessary or advisabledesirable, for all of which this Note shall be a sufficient authoritywarrant.

Confessed Judgment. Upon the occurrence of a default in the payment of the whole or any part of the debt evidenced hereby beyond any applicable notice and cure periodUPON THE OCCURRENCE OF A DEFAULT, or if an Event of Default (as defined in the Deed of Trust) be made in the performance of any of the terms, agreements, covenants, or conditions contained herein or contained in the Additional Guaranty, the Deed of Trust or in any Loan Document, Borrower authorizes and empowers any attorney or any clerk of any court of record in the United States of America to appear on behalf of Borrower in any court having jurisdiction, in one or more proceedings, or before any clerk thereof or other court official, and THE BORROWER HEREBY AUTHORIZES ANY ATTORNEY DESIGNATED BY LENDER OR ANY CLERK OF ANY COURT OF RECORD TO APPEAR FOR THE BORROWER IN ANY COURT OF RECORD AND CONFESS JUDGMENT AGAINST BORROWER, WITHOUT PRIOR NOTICE HEARING AGAINST THE BORROWER IN FAVOR OF LENDER FOR, AND IN THE AMOUNT OF, THE UNPAID BALANCE OF THE PRINCIPAL AMOUNT OF THIS NOTE, ALL INTEREST ACCRUED AND UNPAID THEREON, ALL OTHER AMOUNTS PAYABLE BY THE BORROWER TO THE LENDER UNDER THE TERMS OF THIS NOTE OR OPPORTUNITY ANY OTHER AGREEMENT, DOCUMENTS, INSTRUMENT EVIDENCING, SECURING OR GUARANTYING THE OBLIGATIONS EVIDENCED BY THIS NOTE, COSTS OF BORROWER FOR PRIOR HEARINGSUIT, in favor of Lender or the Holder for and in the amount of the unpaid Principal Sum, all interest accrued and unpaid thereon, all other amounts due and payable by Borrower to Lender or the Holder under the terms of this Note, court costs, expenses, and attorneys’ fees of five percent AND ATTORNEYS' FEES OF FIFTEEN PERCENT (515%) of the total amount then due hereunderOF THE UNPAID BALANCE OF THE PRINCIPAL AMOUNT OF THIS NOTE AND INTEREST THEN DUE HEREUNDER. Notwithstanding the Lender’s right to the attorneys’ fees described above in connection with any confession of judgment proceeding, the Lender may only collect such actual reasonable attorneys’ fees and expenses that are incurred by its counsel in connection therewith, and upon payment of the amount of the judgment, including such actual reasonable attorneys’ fees and expenses, the judgment shall be considered satisfied. The Borrower waives and hereby releases, to the extent permitted by applicable law, the benefit of any and every statute, ordinance, rule of court and all errors and all rights of exemption, appeal, stay of execution, inquisition, other relief from the enforcement or immediate enforcement of a judgment or related proceedings on a judgment, and other rights to which the Borrower may otherwise be entitled under the laws of the United States of America or of any state or possession of the United States of America now in force or and which may hereafter be enacted. The authority and power to appear for and enter judgment against the Borrower shall not be exhausted by one or more exercises thereof, thereof or by any imperfect exercise thereof, thereof and shall not be extinguished by any judgment entered pursuant thereto. Such authority and power may be exercised on one or more occasions, occasions or from time to time, time in the same or different jurisdictions as often as Lender or the Holder shall deem necessary or advisabledesirable, for all of which this Note shall be a sufficient authoritywarrant.

Confessed Judgment. Upon the occurrence of a default in the payment of the whole or any part of the debt evidenced hereby beyond any applicable notice and cure period, or if an Event of Default (as defined in the Deed of Trust) be made in the performance of any of the termsDefault, agreements, covenants, or conditions contained herein or contained in the Additional Guaranty, the Deed of Trust or in any Loan Document, each Borrower hereby authorizes and empowers any attorney designated by the Lender or any clerk of any court of record in the United States of America to appear on behalf of Borrower for the Borrowers in any court having jurisdiction, in one or more proceedings, or before any clerk thereof or other court official, of record and TO CONFESS JUDGMENT AGAINST BORROWER, WITHOUT PRIOR NOTICE OR OPPORTUNITY OF BORROWER FOR PRIOR HEARING, confess judgment without prior hearing against the Borrowers in favor of the Lender or the Holder for and in the amount of the unpaid Principal Sum, all interest accrued and unpaid thereon, all other amounts due and payable by any Borrower to the Lender or the Holder under the terms of this NoteNote or any of the other Financing Documents, court costs, expensescosts of suit, and attorneys’ ' fees of five fifteen percent (515%) of the total amount unpaid Principal S▇▇ and interest then due hereunder. Notwithstanding the Lender’s right to the attorneys’ fees described above in connection with any confession By its acceptance of judgment proceedingthis Note, the Lender may agrees that in the event the Lender exercises at any time its right to confess judgment under this Note, the Lender shall use its best efforts to obtain legal counsel who will charge the Lender for its services on an hourly basis, at its customary hourly rates and only collect such actual for the time and reasonable attorneys’ expenses incurred. In no event shall the Lender enforce the legal fees portion of a confessed judgment award for an amount in excess of the fees and expenses that are incurred actually charged to the Lender for services rendered by its counsel in connection therewithwith such confession of judgment and/or the collection of sums owed to the Lender. In the event the Lender receives, through execution upon a confessed judgment, payments on account of attorneys' fees in excess of such actual attorneys' fees and upon payment expenses incurred by the Lender, then, after full repayment and satisfaction of all of the amount obligations under and in connection with this Note, the Financing Agreement and all of the judgment, including such actual reasonable attorneys’ fees and expensesother Financing Documents, the judgment Lender shall be considered satisfiedrefund such excess amount to the Borrowers. Each Borrower waives and hereby releases, to the extent permitted by applicable law, the benefit of any and every statute, ordinance, rule of court and all errors and all rights of exemption, appeal, stay of execution, inquisition, other relief from the enforcement or immediate enforcement of a judgment or related proceedings on a judgment, and other rights to which any Borrower may otherwise be entitled under the laws of the United States of America or of any state or possession of the United States of America now in force or which may hereafter be enacted. The authority and power to appear for and enter judgment against Borrower the Borrowers shall not be exhausted by one or more exercises thereof, thereof or by any imperfect exercise thereof, thereof and shall not be extinguished by any judgment entered pursuant thereto. Such authority and power may be exercised on one or more occasions, occasions or from time to time, time in the same or different jurisdictions as often as the Lender or the Holder shall deem necessary or advisabledesirable, for all of which this Note shall be a sufficient authoritywarrant.

Confessed Judgment. Upon the occurrence of a default in the payment of the whole or any part of the debt evidenced hereby beyond any applicable notice and cure period, or if an Event of Default (as defined in the Deed of Trust) be made in the performance of any of the terms, agreements, covenants, or conditions contained herein or contained in the Additional GuarantyDefault, the Deed of Trust or in any Loan Document, Borrower hereby authorizes and empowers any attorney designated by the Lender or any clerk of any court of record in the United States of America to appear on behalf of for the Borrower in any court having jurisdiction, in one or more proceedings, or before any clerk thereof or other court official, of record and TO CONFESS JUDGMENT AGAINST BORROWER, WITHOUT PRIOR NOTICE OR OPPORTUNITY OF BORROWER FOR PRIOR HEARING, confess judgment without prior hearing against the Borrower in favor of the Lender or the Holder for and in the amount of the unpaid Principal Sum, all interest accrued and unpaid thereon, all other amounts due and payable by the Borrower to the Lender or the Holder under the terms of this NoteNote or any of the other Financing Documents, court costs, expensescosts of suit, and attorneys’ fees of five percent (5%) of the total amount unpaid Principal Sum and interest then due hereunder. Notwithstanding By its acceptance of this Note, the Lender agrees that in the event the Lender exercises at any time its right to confess judgment under this Note, the Lender shall use its best efforts to obtain legal counsel who will charge the Lender for its services on an hourly basis, at its customary hourly rates and only for the time and reasonable expenses incurred. In no event shall the Lender enforce the legal fees portion of a confessed judgment award for an amount in excess of the fees and expenses actually charged to the Lender for services rendered by its counsel in connection with such confession of judgment and/or the collection of sums owed to the Lender’s right to . In the event the Lender receives, through execution upon a confessed judgment, payments on account of attorneys’ fees described above in connection with any confession excess of judgment proceeding, the Lender may only collect such actual reasonable attorneys’ fees and expenses that are incurred by its counsel the Lender, then, after full repayment and satisfaction of all of the obligations under and in connection therewithwith this Note, the Financing Agreement and upon payment all of the amount of the judgment, including such actual reasonable attorneys’ fees and expensesother Financing Documents, the judgment Lender shall be considered satisfiedrefund such excess amount to the Borrower. The Borrower waives and hereby releases, to the extent permitted by applicable law, the benefit of any and every statute, ordinance, rule of court and all errors and all rights of exemption, appeal, stay of execution, inquisition, other relief from the enforcement or immediate enforcement of a judgment or related proceedings on a judgment, and other rights to which the Borrower may otherwise be entitled under the laws of the United States of America or of any state or possession of the United States of America now in force or which may hereafter be enacted. The authority and power to appear for and enter judgment against the Borrower shall not be exhausted by one or more exercises thereof, thereof or by any imperfect exercise thereof, thereof and shall not be extinguished by any judgment entered pursuant thereto. Such authority and power may be exercised on one or more occasions, occasions or from time to time, time in the same or different jurisdictions as often as the Lender or the Holder shall deem necessary or advisabledesirable, for all of which this Note shall be a sufficient authoritywarrant.

Confessed Judgment. Upon the occurrence of a default in the payment of the whole or any part of the debt evidenced hereby beyond any applicable notice and cure period, or if an Event of Default (as defined in the Deed of Trust) be made in the performance of any of the terms, agreements, covenants, or conditions contained herein or contained in the Additional GuarantyDefault, the Deed of Trust or in any Loan Document, Borrower hereby authorizes and empowers any attorney designated by the Lender or any clerk of any court of record in the United States of America to appear on behalf of for the Borrower in any court having jurisdiction, in one or more proceedings, or before any clerk thereof or other court official, of record and TO CONFESS JUDGMENT AGAINST BORROWER, WITHOUT PRIOR NOTICE OR OPPORTUNITY OF BORROWER FOR PRIOR HEARING, confess judgment without prior hearing against the Borrower in favor of the Lender or the Holder for and in the amount of the unpaid Principal Sum, all interest accrued and unpaid thereon, all other amounts due and payable by the Borrower to the Lender or the Holder under the terms of this NoteNote or any of the other Financing Documents, court costs, expensescosts of suit, and attorneys’ fees of five fifteen percent (515%) of the total amount unpaid Principal ▇▇▇ and interest then due hereunder. Notwithstanding By its acceptance of this note, the Lender agrees that in the event the Lender exercises at any time its right to confess judgment under this note, the Lender shall use its best efforts to obtain legal counsel who will charge the Lender for its services on an hourly basis, at its customary hourly rates and only for the time and reasonable expenses incurred. In no event shall the Lender enforce the legal fees portion of a confessed judgment award for an amount in excess of the fees and expenses actually charged to the Lender for services rendered by its counsel in connection with such confession of judgment and/or the collection of sums owed to the Lender’s right to . In the event the Lender receives, through execution upon a confessed judgment, payments on account of attorneys’ fees described above in connection with any confession excess of judgment proceeding, the Lender may only collect such actual reasonable attorneys’ fees and expenses that are incurred by its counsel the Lender, then, after full repayment and satisfaction of all of the obligations under and in connection therewithwith this note, the loan agreement and upon payment all of the amount of the judgment, including such actual reasonable attorneys’ fees and expensesother loan documents, the judgment Lender shall be considered satisfiedrefund such excess amount to the Borrower. The Borrower waives and hereby releases, to the extent permitted by applicable law, the benefit of any and every statute, ordinance, rule of court and all errors and all rights of exemption, appeal, stay of execution, inquisition, other relief from the enforcement or immediate enforcement of a judgment or related proceedings on a judgment, and other rights to which the Borrower may otherwise be entitled under the laws of the United States of America or of any state or possession of the United States of America now in force or and which may hereafter be enacted. The authority and power to appear for and enter judgment against the Borrower shall not be exhausted by one or more exercises thereof, thereof or by any imperfect exercise thereof, thereof and shall not be extinguished by any judgment entered pursuant thereto. Such authority and power may be exercised on one or more occasions, occasions or from time to time, time in the same or different jurisdictions as often as the Lender or the Holder shall deem necessary or advisabledesirable, for all of which this Note shall be a sufficient authoritywarrant.

Confessed Judgment. Upon the occurrence of a default in the payment of the whole or any part of the debt evidenced hereby beyond any applicable notice and cure period, or if an Event of Default (as defined in the Deed of Trust) be made in the performance of any of the termsDefault, agreements, covenants, or conditions contained herein or contained in the Additional Guaranty, the Deed of Trust or in any Loan Document, each Borrower hereby authorizes and empowers any attorney designated by the Lender or any clerk of any court of record in the United States of America to appear on behalf of Borrower for the Borrowers in any court having jurisdiction, in one or more proceedings, or before any clerk thereof or other court official, of record and TO CONFESS JUDGMENT AGAINST BORROWER, WITHOUT PRIOR NOTICE OR OPPORTUNITY OF BORROWER FOR PRIOR HEARING, confess judgment without prior hearing against the Borrowers in favor of the Lender or the Holder for and in the amount of the unpaid Principal Sum, all interest accrued and unpaid thereon, all other amounts due and payable by any Borrower to the Lender or the Holder under the terms of this NoteNote or any of the other Financing Documents, court costs, expensescosts of suit, and attorneys’ fees of five fifteen percent (515%) of the total amount unpaid Principal ▇▇▇ and interest then due hereunder. Notwithstanding By its acceptance of this Note, the Lender agrees that in the event the Lender exercises at any time its right to confess judgment under this Note, the Lender shall use its best efforts to obtain legal counsel who will charge the Lender for its services on an hourly basis, at its customary hourly rates and only for the time and reasonable expenses incurred. In no event shall the Lender enforce the legal fees portion of a confessed judgment award for an amount in excess of the fees and expenses actually charged to the Lender for services rendered by its counsel in connection with such confession of judgment and/or the collection of sums owed to the Lender’s right to . In the event the Lender receives, through execution upon a confessed judgment, payments on account of attorneys’ fees described above in connection with any confession excess of judgment proceeding, the Lender may only collect such actual reasonable attorneys’ fees and expenses that are incurred by its counsel the Lender, then, after full repayment and satisfaction of all of the obligations under and in connection therewithwith this Note, the Financing Agreement and upon payment all of the amount of the judgment, including such actual reasonable attorneys’ fees and expensesother Financing Documents, the judgment Lender shall be considered satisfiedrefund such excess amount to the Borrowers. Each Borrower waives and hereby releases, to the extent permitted by applicable law, the benefit of any and every statute, ordinance, rule of court and all errors and all rights of exemption, appeal, stay of execution, inquisition, other relief from the enforcement or immediate enforcement of a judgment or related proceedings on a judgment, and other rights to which any Borrower may otherwise be entitled under the laws of the United States of America or of any state or possession of the United States of America now in force or which may hereafter be enacted. The authority and power to appear for and enter judgment against Borrower the Borrowers shall not be exhausted by one or more exercises thereof, thereof or by any imperfect exercise thereof, thereof and shall not be extinguished by any judgment entered pursuant thereto. Such authority and power may be exercised on one or more occasions, occasions or from time to time, time in the same or different jurisdictions as often as the Lender or the Holder shall deem necessary or advisabledesirable, for all of which this Note shall be a sufficient authoritywarrant.

Confessed Judgment. Upon the occurrence of a default in the payment of the whole or any part of the debt evidenced hereby beyond any applicable notice and cure period, or if an Event of Default (as defined in the Deed of Trust) be made in the performance of any of the termsDefault, agreements, covenants, or conditions contained herein or contained in the Additional Guaranty, the Deed of Trust or in any Loan Document, each Borrower hereby authorizes and empowers any attorney designated by the Lender or any clerk of any court of record in the United States of America to appear on behalf of Borrower for the Borrowers in any court having jurisdiction, in one or more proceedings, or before any clerk thereof or other court official, of record and TO CONFESS JUDGMENT AGAINST BORROWER, WITHOUT PRIOR NOTICE OR OPPORTUNITY OF BORROWER FOR PRIOR HEARING, confess judgment without prior hearing against the Borrowers in favor of the Lender or the Holder for and in the amount of the unpaid Principal Sum, all interest accrued and unpaid thereon, all other amounts due and payable by any Borrower to the Lender or the Holder under the terms of this NoteNote or any of the other Financing Documents, court costs, expensescosts of suit, and attorneys’ ' fees of five fifteen percent (515%) of the total amount unpaid Principal Sum and interest then due hereunder. Notwithstanding By its acceptance of this Note, ▇▇e Lender agrees that in the Lender’s event the Lender exercises at any time its right to the attorneys’ fees described above in connection with any confession of confess judgment proceedingunder this Note, the Lender may shall use its best efforts to obtain legal counsel who will charge the Lender for its services on an hourly basis, at its customary hourly rates and only collect such actual for the time and reasonable attorneys’ expenses incurred. In no event shall the Lender enforce the legal fees portion of a confessed judgment award for an amount in excess of the fees and expenses that are incurred actually charged to the Lender for services rendered by its counsel in connection therewithwith such confession of judgment and/or the collection of sums owed to the Lender. In the event the Lender receives, through execution upon a confessed judgment, payments on account of attorneys' fees in excess of such actual attorneys' fees and upon payment expenses incurred by the Lender, then, after full repayment and satisfaction of all of the amount obligations under and in connection with this Note, the Financing Agreement and all of the judgment, including such actual reasonable attorneys’ fees and expensesother Financing Documents, the judgment Lender shall be considered satisfiedrefund such excess amount to the Borrowers. Each Borrower waives and hereby releases, to the extent permitted by applicable law, the benefit of any and every statute, ordinance, rule of court and all errors and all rights of exemption, appeal, stay of execution, inquisition, other relief from the enforcement or immediate enforcement of a judgment or related proceedings on a judgment, and other rights to which any Borrower may otherwise be entitled under the laws of the United States of America or of any state or possession of the United States of America now in force or which may hereafter be enacted. The authority and power to appear for and enter judgment against Borrower the Borrowers shall not be exhausted by one or more exercises thereof, thereof or by any imperfect exercise thereof, thereof and shall not be extinguished by any judgment entered pursuant thereto. Such authority and power may be exercised on one or more occasions, occasions or from time to time, time in the same or different jurisdictions as often as the Lender or the Holder shall deem necessary or advisabledesirable, for all of which this Note shall be a sufficient authoritywarrant.