interest thereon, notwithstanding any extension of time granted to the principal, and notwithstanding any failure or omission to protest this note for nonpayment, or to give notice of nonpayment, or dishonor, or protest, or to make presentment, or demand for payment, hereby expressly waiving any protest and any and all notice of any extension of time or of nonpayment, or dishonor or protest in any form, or any presentment or demand for payment, or any other notice whatsoever.

(See Lancaster v. Stanfield, 191 N. Car. 340, 132 S. E. 21.)

Form 3228.

Grant of Credit to Corporation.

KNOW ALL MEN BY THESE PRESENTS:

That the undersigned, in consideration of financial accommodations given, or to be given, or continued to the undersigned by The First National Bank of Chicago, of Chicago, Illinois, hereby agree with the said bank that whenever the undersigned shall become or remain, directly or contingently, indebted to the said bank for money lent, or for money paid for the use or account of the undersigned, or for any overdraft or upon any indorsement, draft, guarantee or in any other manner whatsoever, or upon any other claim, the said bank shall then and thereafter have the following rights, in addition to those created by the circumstances from which such indebtedness may arise, against the undersigned, or his or their executors, administrators or assigns, namely:

1. All securities deposited by the undersigned with said bank, as collateral to any such loan or indebtedness of the undersigned to said bank, shall also be held by said bank as security for any other liability of the undersigned to said bank, whether then existing or thereafter contracted; and said bank shall also have a lien upon any balance of the deposit account of the undersigned with said bank existing from time to time, and upon all property of the undersigned of every description left with said bank for safe keeping or otherwise, or coming to the hands of said bank in any way, as security for any liability of the undersigned to said bank now existing or hereafter contracted.

2. Said bank shall at all times have the right to require from the undersigned that there shall be lodged with said bank

as security for all existing liabilities of the undersigned to said bank, approved collateral securities to an amount satisfactory to said bank; and upon the failure of the undersigned at all times to keep a margin of securities with said bank for such liabilities of the undersigned, satisfactory to said bank, or upon any failure in business or making of an insolvent assignment by the undersigned, then and in either event all liabilities of the undersigned to said bank shall, at the option of said bank, become immediately due and payable, notwithstanding any credit or time allowed to the undersigned by any instrument evidencing any of the said liabilities.

3. Upon failure of the undersigned either to pay any indebtedness to said bank when becoming or made due, or to keep up the margin of collateral securities above provided for, then and in either event said bank may immediately, without advertisement, and without notice to the undersigned, sell any of the securities held by it as against any or all of the liabilities of the undersigned, at private sale or broker's board or otherwise, and apply the proceeds of such sale as far as needed toward the payment of any or all of such liabilities, together with interest and expenses of sale, holding the undersigned responsible for any deficiency remaining unpaid after such application. If any such sale be at broker's board or at public auction, said bank may itself be a purchaser at such sale, free from any right or equity of redemption of the undersigned, such right and equity being hereby expressly waived and released. Upon default as aforesaid, said bank may also apply toward the payment of the said liabilities all balances of any deposit account of the undersigned with said bank then existing.

It is further agreed that these presents constitute a continuing agreement, applying to any and all future as well as to existing transactions between the undersigned and said bank.

antees the payment of the principal and interest of the within. note when and as the same respectively matures, whether by lapse of time or otherwise.

In Witness Whereof, the

Corporation has caused its

corporate name to be hereunto subscribed by its president or vice-president and by its secretary or assistant secretary this

Whereas,

Form 3230.

Guaranty of Direct Notes-Corporation.

a corporation organized under the laws of the state of whose principal office is at hereinafter referred to as said corporation, desires to borrow upon its notes from time to time, though it may be not continuously, of the First National Bank in Detroit, having its principal office in the city of Detroit, Michigan, hereinafter referred to as said bank:

Limitation in amount-Release of collateral.

Now, therefore, for a valuable consideration, the receipt whereof is hereby acknowledged and subject to the limitation that the obligation hereunder shall in no event require the undersigned to pay more than the principal sum of dollars ($), and interest thereon in addition thereto, the undersigned do guarantee to said bank the prompt payment at maturity, or any accelerated or extended date, of any and all notes of said corporation ("said corporation" wherever used herein shall include any successor, firm or corporation, whether immediate or otherwise), which evidence loans and (or) discounts, present or future, by said bank and any and all renewals or extensions, in whole or in part, of said notes until the same, both principal and interest, are fully paid and satisfied. Presentment, demand, protest and notice of protest or dishonor and diligence in collecting said notes are each and all waived. Any collateral or other security of said corporation, or any other

party, which said bank may hold or which may come to it or to its possession may be released or otherwise dealt with by said bank in all respects and particulars, as though this guaranty were not in existence and the obligation of the undersigned hereunder shall be in no wise affected thereby, the undersigned hereby waiving and foregoing any right in respect of any such action of said bank. The possession by said bank of any note of said corporation unless direct written evidence to the contrary be produced, shall be conclusive that it is one of the notes covered hereby, and that full value was given by said bank therefor.

Character and extent of obligation.

The obligation of the undersigned hereunder shall be several and also joint each with all or with any one or more of the others and may be enforced against each separately or against any two or more jointly, or against some separately and some jointly. Said obligation shall be continuing and shall continue (irrespective of any statute of limitations otherwise applicable) and cover and include all loans and (or) discounts made before the revocation hereof shall become effective as herein provided, and as to any loans and (or) discounts so made, shall continue thereafter until the same are fully paid and satisfied. The obligation hereunder shall be in addition to any similar obligation or other liability of the undersigned to said bank. A revocation. hereof may be made by the undersigned or any of them as herein provided, but not otherwise. Such revocation shall be by writing signed by the party, or, if deceased, by his personal representative, and delivered to the president, vice-president or cashier of said bank in person at said bank, and shall become effective at the opening of business on the day next succeeding the delivery thereof. The bankruptcy or insolvency of or revocation by any of the undersigned shall not affect the obligation of the others of the undersigned hereunder, but such others shall continue liable for future loans and (or) discounts and for extentions and renewals of prior obligations as though such bankrupt or insolvent or revoking party had not been a party hereto. The obligation hereof shall survive the death of any or all of the undersigned and shall be binding upon the estate of any such deceased party and upon any surviving party for all loans and (or) discounts made thereafter, the same as though such death had not occurred. The obligation of the undersigned hereunder

shall be absolute and primary and shall be complete and binding as to each of the undersigned forthwith upon the signing of the same by such one of the undersigned and subject to no condition whatever precedent or otherwise.

Whereas,

a corporation organized under the laws of the state of whose principal office is at Detroit, Michigan, hereinafter referred to as the said corporation, may in the due course of its business desire from time to time, though it may be not continuously, to obtain money at the First National Bank in Detroit, of Detroit, Michigan, hereinafter referred to as said bank, upon drafts, with bills of lading of its property attached drawn by said corporation upon its customers at various points throughout the United States and foreign countries:

Limit and extent of corporate obligation.

Now, therefore, in order to induce said bank to so advance money upon drafts from time to time either directly to said corporation or its order, or by placing the same to the credit of the account of said corporation prior to the payment of the said drafts by the respective drawees thereof, and for a valuable consideration, the receipt whereof is hereby acknowledged, the undersigned do hereby guarantee to the said bank that each, all and every of the said drafts which have been or may be taken by said bank from the said corporation ("said corporation" wherever used herein shall include any successor, firm or corporation, whether immediate or otherwise), and outstanding at any time will be accepted and paid by such drawees at the time when payable by the terms thereof or any accelerated or extended date. The obligation hereunder shall in no event require the undersigned to pay more than the principal sum of dollars ($) and interest thereon in addition thereto, and to that end said bank is authorized to require the payment by the