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S. Use thc proceeds of the losn solely fa the purposes sat forth in d~e Autho~iution fo~ tbe I~oan isaued by
Payee.
6. On demsnd, ~eimbiuse Papee for a~+ and all e:penaea inc~ured, or which may be haeaEur iocu~nd b~r Pay
ee from time to time in connection ~vitb a by reason of borc~ower's applicatioa for. and the malciag and administration
of, the losa
Nes~tivs CoveRw~ts. - The Underaigned oovenants aad agRees that, wit6ont the pria written o~seat of the Pay-
ee, Undersigned will not:
1. Create, assume a othenvise suEfa o~ e=iat a~r mortgage. pledge a other incumb~ance npon any of the real
or tangible peraonsl pcoperty of the Undersigned. ~vhether now o~rned or hereafte~ acqnired, escept (a) liens Ea tues
o~ other goveramental chuges not delinquent a beiag conteated in good•faith, o~ (b) purchase money liens upoa prop-
erty acquired aEter the date of the Note, and other liena npon such property at the time of the acqniaitian thereof.
2. (a) It Uadersigned is a oorporation. declue or pay any dividead or make any distri6utian upon its caQital
stock, a purchsse a retioe aay of it~ capital awck, or conaolidate a merge with a~r otha company. a~ake any
advance~ direcdy or indirecdy. bryr war of loan, gi[t. bonus~ oommission, ac otherwiae. oo ury company direcdy or in-
direcdy oontrolling ar aifiliated witl~ or oontrolled by Undersigned. a w aay officer. director~ o~ employee of Under-
signe~. o~ ot any anch oompany. (b) if Undasigo~ed is a putnetahip a individual. make any distribution of asaets of
the business of Underaigned, other thaa reaeonable compensation 6~r servicea~ or make a~r advance~ dioecdy a~ in-
dirxtly. by way of loan, gift, b~nus~ oommission. o~ otherwise. w aay putner a any of ita employces, or to any
oompaay direcdy o~ indirecdy oontrolling or afGliated with or controlled by Undersigped.
Bvents o j De~arl~ ? The indebtedneas (including principal ~ interest and e~enaes) s6a11 immediately become ~
due and payaWe, ~vithout notice or demand, upou the app~intment of a receiver or liquidabr, ~rhether volnntary ar in- t
v~luntary. for t4e Undersigaed ar for any of its propecty. a upcm the ~ling oE a peddon by a against the Undersign-
ed under the provisions of,any StaLe insolvency l:w or imder the provisions of the Bankruptcy Act of 1898~ as amend- ;
ed, a~ upon the making by the Underaigned of an assig,nment fa the benefit oi its aeditora. Payee is sutbrized to ~
declue all or any p~t~of the indebtedneas immediately ~ue and payable upon the 6appening of any of the foltowing
events: (1) Failwc to pay any put of tLe indebtedness w6en dne; -(~aonpedormance by the Uadet~igned of any
agReemeat with, e~ ~anyr condi~ion impoaed by. ~Payee with c~espect w t~e indebtednesa; Psyee's disaovery of the
Undersigned'a failure in any application of tbe Undersigned to Payee to disclose aay f~ct dtiecaed by Payee to be
matecial or of the malcing therein o~ in any of tbe said a~reem~nts.`a in any af~davit oi other documents submittod
in oonaection with said apflication or the indebtedness~ o~ of any miarepresentadon by. on behalf of~ or fa the beno-
fit of the Undersigried; (4~ t~e rcagasizatioo (other thari"~ r~dagamution pnrsnanE to u~y o~ the'provisiona of the
Banlauptcy Act of 1898. as amended) at mecger or coaaolidation of the Underaigpod (a the making of any agreement
thaefor) ~rithout the piior writoea ooasent of Payee: (5) tht Uhdersigt~ed's fiilure d61j? to aeoount,`to Payee's satis-
faction. at auch time or times aa Pa~ree.may reqnire. fa aay of t6e oollateral. a-proceeds t~ereof,r ooming into the
control of the Undaaigned; ar .(6) the institution of any sait affectieg the Unckreigued deemtd by Payee ~o sfEect
adversely its in~erest hae~mder in the collaLeral a othe7wise. Payee's fulure to e:ercise any of its rights unda
this paragraph sball eof onostibnte a.~?aiver thereof: . _ . - -
~ Upon n~npayment of i~erest a any instillment of principal vvhen dne~ the Undersigoed snd snretiea authoriu
' the Payee m sell, at pnWic or private sale~ any or all oollat,aal deposited and propaty Pledged w sec~ue the pay-
~ ment of this Note, and apply the proceeds of sale. leas eacpense, tfl the paymeat of this Note.
'!be sacurity rig6ts of Payee and its assigns heremdar shall aot.be impaired by aay indulgence. release~ rc-
nerval, ezoension, a modi6cation which Payee may grant with respect to the indebtedness or any part thereo~ a ia
respSCt to the c~llatep?t ot in [espect to aaq enda~su. guarant~, or anrety ~vith~ut nodce a~ oonsent of tbe Under-
signed or a~? eadorsa. guuano~t a snrety.
i 11!!~ 1~, w~w ~w~i~ ~M wr 1Nw~ ~t ~i~ 11~! r? a¦t Mr ~r
!ls+~ ~iMw . . s~ s~s a1~ ~t • i~ ~
. : -
I/We haeby guuantee psyment of this Note:
, .
Nocw - CarDa'at• opplfomu or 9uamtas aut ~~b Not~. ln meyord• n~. M dalf aatboefr~d oE$a~r. md ~wl ao~t b~ e[tisd od
8ilr atbst~d: Va'tr~tt61p aVPUemt~ «9~'mton ~e ~t~ont• NoN 1n tf~ s~. bq~th~c ~ith slaoattin ot a qwNrol pata~t.
S~A Fwm 3268 (11-61)
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