Common use of Warrant of Attorney Clause in Contracts

Warrant of Attorney. ▇▇▇▇▇▇▇▇ authorizes any attorney at law to appear in any court of record in the State of Ohio or in any other state or territory of the United States of America after the loan evidenced by the Note becomes due, whether by acceleration or otherwise, to waive the issuing and service of process, and to confess judgment against Borrower in favor of ▇▇▇▇▇▇ for the amount then appearing due on the Note, together with costs of suit, and thereupon to waive all errors and all rights of appeal and stays of execution. ▇▇▇▇▇▇▇▇ waives any conflict of interest that an attorney hired by ▇▇▇▇▇▇ may have in acting on ▇▇▇▇▇▇▇▇’s behalf in confessing judgment against Borrower while such attorney is retained by ▇▇▇▇▇▇. ▇▇▇▇▇▇▇▇ expressly consents to such attorney acting for Borrower in confessing judgment and to such attorney’s fee being paid by ▇▇▇▇▇▇ or deducted from the proceeds of collection of this Note or collateral security therefor.