  (Abbrev.) We analyze the topology, lifetime, and emissions of a torus around
a black hole formed in hypernovae and black hole-neutron star coalescence. The
torus is ab initio uniformly magnetized, represented by two counter oriented
current-rings, and develops a state of suspended accretion against a "magnetic
wall" around the black hole. Magnetic stability of the torus gives rise to a
new fundamental limit EB/Ek<0.1 for the ratio of poloidal magnetic field
energy-to-kinetic energy. The lifetime of rapid spin of the black hole is
effectively defined by the timescale of dissipation of black hole-spin energy
in the horizon, and satisfies T= 40s (MH/7MSun)(R/6MH)^4(0.03MH/MT) for a black
hole of mass MH surrounded by a torus of mass MT and radius R. The torus
converts a major fraction Egw/Erot=0.1 into gravitational radiation through a
finite number of multipole mass-moments, and a smaller fraction into MeV
neutrinos and baryon-rich winds. At a source distance of 100Mpc, these
emissions over N=2e4 periods give rise to a characteristic strain amplitude
\sqrt{N}hchar=6e-21. We argue that torus winds create an open magnetic
flux-tube on the black hole, which carries a minor and standard fraction
Ej/Erot=1e-3 in baryon-poor outflows to infinity. We identify this baryon poor
output of tens of seconds with GRBs with contemporaneous and strongly
correlated emissions in gravitational radiation, conceivably at multiple
frequencies. Ultimately, this leaves a black hole binary surrounded by a
supernova remnant.
