LIEN AGREEMENT
This Agreement is made on _________________ (hereinafter referred to as the “Agreement”) Between BIP REFERRALS, LLC (hereinafter referred to as the “Company”) and WALTER J. WILCOX (hereinafter referred to as the “investor”) together hereinafter referred to as parties.
WHEREAS the parties herein have willingly agreed to be legally bound by the following terms; –
- SUBJECT MATTER
The company owns the following property _____________________________ which is hereinafter referred to as the “subject property”.
- ENFORCEMENT
The parties agree that upon the default of the guarantor in the personal guarantee with the investor, the investor has the right of lien over the subject property and all the remedies under the applicable law. Enforcement shall not require further formalities from the guarantor or the company herein.
- GOVERNING LAW
The terms of this agreement and the enforcement thereof shall be governed by the laws of the state of Delaware.
- SEVERABILITY
Suppose any of the provisions of this agreement is deemed invalid or unenforceable. In that case, the same shall be deemed to have been severed from this agreement, and the remaining provisions shall continue to operate as they will not be affected.
- DEFAULT
The parties herein agree that a breach of any of the terms in this agreement shall also operate as a breach of the personal guarantee.
Failure by any of the parties to meet their obligations under this agreement, the investor shall deem a default on the terms and issue a notice on the default, after which he has the right to proceed with the remedies available to him herein.
- CONFLICT/DISPUTE RESOLUTION
In case of any dispute that may arise from the performance of the terms of this agreement, the parties agree to refer the dispute to a single arbitrator whose decision shall be final and binding upon the parties.
- WAIVER
The failure by any of the parties herein to request the performance of any provision of this agreement shall not be deemed as a waiver of any future or subsequent right to require performance.
- ENTIRE AGREEMENT
Parties agree that this agreement, together with the personal guarantee, constitutes the entire agreement between the parties and supersedes all prior negotiations and promises between the parties, either oral or written.
IN WITNESS THEREOF, the parties have duly signed this agreement on the date indicated hereinbelow; –
Executed by the Company – BIP REFERRALS, LLC
Signature: ___________________________
Date: _______________________________
Email address: ________________________
Executed by the investor – WALTER J. WILCOX
Signature: ___________________________
Date: _______________________________
Email address: ________________________
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