HomeMy WebLinkAbout0271 S. Use ~e pcoceeda oi d~a loas soi~ly 6or t1s poiposes ~at fo~ is the Aatborisution 6oc the I~oan issued b~
Papes.
6. Oen daeiand, reia~bucse Papee ior sn~r a~d al! ezpeasw incnrred. o~ w6ich mar be 6sc~aaE~ inrarred b~r Par•
ee ~ tine to tu~e in oonnectioa with ar- bp raasoa oE borrowet's applicadas for. and t6e makiu,g and ac~inistratioa
of~ d~e Ioss.
IYss~NNs~ Cow+~wta. • The Uadarsig~:d o~vensuts aad ag~rees tLat~ witlaat the pria writ~n oonseat of the Par
ea~ Uadersi~ed will aot: . .
1. Creaoe. aasame or o~tbenrise suffes o~ esiat any mortg~~ge, pledge or o~ incumb~anea npon aay of tLe real .
a~We per~ooal propecg of the Usdasigned~ whethe~ aow owaed ot heraahar acqaired. ~cept (a) lieas fa 4set
a othe¢ gov~era0a~wt d?uges not d~li~nent or beiug ooa~eaoed ia Sood'fait6. or (b) Porchaae voaap li~s ~wn ~rop- ~
erty acquired ~ftier t6a daoe ot tha Nota. and otLer lieas y~on such propecty at the tima of tLa uqnisitioe 1h~o~
2. (s) IE Uadersi~oed is ~ oorpo+u?tio~. daclare o~ p~r any dividead ot maka aa~ diatri6ndca npoa its cspiut .
stock, a p~cbas~ a ratira an~ o# ib capital atodr, oc coasolidaoe a mec~a with asp otLec cospia~. a~aice anr
advaace. diracd~ at iadiracdr• bq way of loan. 8itEt. boons. oomanisaion, a ot~enrise. tio a~? oomPaa7 dirxd~ or ia-
dic~ecdy co~atrdGag a affiGaoed with or controlkd by Undarsig~d. a w aay officer. dinect~a. a ea~Qlayee of Under-
sigpod. a ot a~ soch.oo~pany. (b) if Undecsigped ia a pscmeahip a in~Gridnal. make aap d'estribnpon of aasets of
the bnsiness of Uadasig~ned. otber t6an nasona~le oompenaation br a~rvicea~ a mal~e a~ advsnce, dicacdy a in-
directty. b~? w~?~ oE ioan. ~ih, bonua, oomm~saian. a o~e~,.ise. oo anr pa~caer a aay of ics employeea. o~ o~ any
aoaspan~ diractlj? er iadic~eedr o~trdL'ng or af6liated wits or cantrolled by Undecsigped.
Bvssts of Dsjail~. ? Tbe in3eboedaess (induding principal, in~erest and e:pensea) shall immediatety bccome
due aad p~yabie. widwut notice o~ demand. n~pon the appoiatment of a receiver a liqnic4tur~ whethe~ vduntary a in-
v~nlmtarp, ior tha Undccsigned or ~ a~r of its propaty. a npon the fiiiag of s petitian b~ or agsiast the Undasiga-
ed wnde,~ the p~oviaions of say State insol~ren~r law o~ imder tha provisioas of t~ Baalcrnptcy Act of 1898, aa amend-
ed. a upoo t6e m~ b~r the Unde~sigued of an assig~omeat fa tAa beaeSt of its aedi~aa. Pay~e is antLaized w
declare all a~r
put of t~e iadeboedueas im~cdiately dae aad payable upon t6e happening of a~r of d?e following
events: (1) Fsito~JP~ t~r ~~Y~:o~,~.
e. ~ad~eb~dqess ~ dna; ~,(2~~~aaoa b,~ t~,UAdet~igned of any -
:g~rcemmt with, a any oond'iban imQoeed ~y, ~ayae with napect ~ tba indebtedness'; Payea's disoovery of the
Undaaigned's fii~ i~.sp~.}~1ic~~ o~tbe,~Tnde,rsi~ned, 0~. p~~ ~ diacloa~ ~;f~tet deeae~( b~r ~Paree w be
materiai a of tLe ~ing`therain a'~a sny~of tbe aud'agc~eeanenta, a in aa~ atdda`vit a other
~ocumeats sabmitt~od
ia oonnection with~lu~ 1ic,t~oa ~_the ~ndebt+~e s. a.of ;py;~s3rq~eseat,~poa 04 ~1y1~,of
~a. fo~ tbe beao-
6t of the Undeni~; (~iLe raorgan~zadari ~otL~tr ~ a reorg~uuzidon p~iranant tv a~i of ~e' pnwnuons of the
~a~Y AM ~,~,~1,6..~ i+~~d~ 9~~~~,oc coReolid~ti~.~i.tbc~,U
.~d~rai8ae~.~a t~e,~?g,~ o~~~ay sg~reement
therefa) withoat tlre'prtar wnttea ~oriseat of P~ayee;' ~5)~tbe~ndasigi~ed's fiulni~ ~i1# to aooount, ~ Psyea'a satis-
ficdan, at aach tine; q~ t~mea, ss-Pa7roe'~y?~ire,~fac a~ of the cdl~tu~l, cc. -tberegf;-eo~in~ inou the
tm
~.°°is
control of the Undasigoed, ae (6) the instimtion oi ani swt a~E~n~ tbe ~Tnd'ais~gucddeesed b~r Ps~ree to affoct
advecsely ite iaoe~e~t ~ecennde~,in tlre:oolt~o~t~l a otherwise. Pa 's failnre t~ ese.ccise_anr of ita rights nnder
sa e
'1 :~I Y j 'Y•' - . .
tlris P~BF~ sht1Y ~$f oonstioboe a wu~ia ~~ereof." - Y _ - ~ ` ~ ~ - -
Upop mnpayment of intaest a any instatiment of principal w6en ie, tbe Underaigaed aad smeties wtborize ~
the PaTee to selt~ at pablic a~ pcivat,e sate, aap or all o~llataal deposited and P~~h~ PledBed w secure the pay-
ment of tbia Note. aad apply the p~aceeeds of sde, leas eipense, b tbe paymeat of this Not,e. '
Thes seauity iights of Payee and its aasigna heremdec'shall aot be impaic~ed by asy iadulgeace. retease, ce-
newsl, a~ensioa, a nodification w6ich Payee msy graat with cespect ~o the i~ebt~edaesa a say put tbereo~ a in
respect ~o t6e o~ilat~xal a ia raapect b a~r endarsa. gn~rantor, er anretp wit6out notice a oonaeat of tLe Under-
signed ot aar eadD[iet. gparanmr f~r .s~rety. }
1~'~ ~w 1ia~ ~M1lwsM ~N ~ i~i~ s~i 1~3+~ ~iM i~? r! ~~st l~rai j
- _ . . t~ ~ ~ ~~-L~ ~/b~/fa
~
~ . _ - -
I/We 6erebs? gnarantee p~yment of this Notet
. t
Not~. - Caiyard. appilomu or 4aarmtar~ mase w~cot. t~tot~. fn oaPo~at• s~. by drir autLoris~d odtto~r, asd rd'sast b~ ~tta~d aod
dn?s caa.:.as vQtn«~[r ~pitoma at 9.avrtae. s~t .~.w!• xor m uea eao., toqreL~e .ue al~atsn. ot a Q.ouat paru.~.
SBA Fonn 3268 (11~6!)
~.o . a~14~ 270 ~ ~
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+ i~",,. y~,y-~s'.a~ „sy~.~.' f F`.i-. ; " . ' . " _ _ e.,~.
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