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S. Use t~s p~oceeda of the loae aolelr ~ the qteposes set ioct~ ia the Anthorisatioa for tLe Loaa issued by
Psyoe.
6. O. da~d. reia~b~cse Psres for a~r aod all e~enaea iaco~red, a wDicL s~ar be he~eaf~ incucred b~r Par.
ee 5ov tiae `o time in oounection witb or b~ cesson of botrowec's appGcatian for. and tl~e making i?nd ad~inistratioa
ot, tLe loao. -
N~~iw Coas~ta. • The Uadecsi~ped ooveawts and s~rees that, witboat the pcicr writtea oonsent ot t~e.Par-
ee. Uadersi~aed ~ill sRt: - ° -
1. Creat,e. assm~ a otberwise snffer o~ e~iat an7? moctga60. Pledgei or ot~er i~rcwmbraace np~a as~ oi ch~ c~eal
or taagiWe pet~aaal poope~q oE the Undasigned. whethar now owne~d o~ beceaher aaqmc~d. e~ceept (a~liena fa 4ses
a othe~ g~uv~era~eatsl chuges not deliaqne~ a baing e~nteated in ~ood ~fiitb. a(b) Pacchaae ~aep lie~ rpon [x'~P'
e.rtp acqniced afoer the daoe of the No~e, aad other lieaa upon anch pc~opertr at tbe dme of the aoqni~itiqn thereof.
Z. (a) If Ddersig~ed is a oot~poratioo. declara oc P~y diridnad o~ ~ake saj? distribntiaa a~a`iEs cap~iW
stoek, ot paehasa at retire sa~ of ib eapiisl atoek. a ooa~olida~e a~rge witL aay othec ea~pas~. oc ~aka ,~?y .
advaace~ a~~dr a~~ar. bf war oE loan. Sift. bo~a~ oommission. a otbeewisa. oo sa~? ~omp~of direcdy a ia-
direcd~ oo~eollina at ~Efiliaoed witk or ooatrolkd bq Und~e~aigned. a m sny ot6cer. ~recta. a oatplayee oE Uader• -
aigued. a af aar sae~ eospaqy (b) iE Undasigp~d is s psctaecship-a ia~vi~oal. malce aa~ distribation of asaeta ot
the basiaess ot Und«sigped, otbcr tbaa oeaionaWe oompensadoa ior secvicea. ac roske a~r dvaace, direcdy or io-
ai:ecdr. b~? war of loao, ~iE~, bonw~ oommisaian. a othecwise. o~ anr partaec a~ny ot~ita employees. a~o aay
co¦ipaay diractl~ or iadirecdr oontrdling or a~'ilisted wit6 0~ conaolled b~r Undecsi~oad.
Bvssta o~ Ds fe~lt i Tbe indeboedness (including priacipal. interest aad e~enses) shall i~ediately beoome
dna aad payable. widant notice or demsnd. npon the appointment of a receiver a liquidator. whether vdnntary a•ia-
v~lontary, ior t6e Undersigned or ~ aap of its prvp:erty. a npon the 6liag of a petition b~r a ag+unst the Undasign-
ed natkt tbe p~ovisions of a~r StaLa ineolveacy 1~?w ot unda the p~+ovisions of the Bankrnpuy Act ot 1898. ss amanc~
ed~ a npon tLc m~iq~,b' the Undersigped of aa assigpmeat fa the benefit of its creditas. Payee ia antbaized to
dcclsce all a aay"pai~ of the indebu~aess immediately dne and payable upon the Lsppening of a~r of the following
events: (I) Failat~; p~ ot. ss_w _dna;-•{;~~oapa u~ ~r t~e,Uod~~~ of aay
g ~3)'~'ayee a disoo of the
agirreemeat witb. dr a~ ~~~b~?,
~a+~~ye~a
witb ~
pect L~ the~ iade esd; very
Undasigaed•s fai~t~ ipy~~ ~p~lic~ioq 9~ i~ :Un~~gp9d L~t ~+}~!e~ W.t~isS1o~14: ~Y. f~M de~d ~'~,~.ayee to be
mat,erial or of the ~m`iking t~haein a i~ aay of t'~e aud~ ag,recm~nts. ce id `iay a~davif or`otha aoc~mieats anba~itt,ed
in aannection wi $tud a~~icatiQU~x.,tb~,ln~S~ess. oE }e~.q~is~e~se~t~,p~e4-~r~.o~ beh~~.of~oi: fo~ the bea~-
4
fit of the Undera~: "~Tthe roa8aaisado~'(otbei ~an a'reor8antu`~ion~ptiisiunt `miiiy'of tba pcovtsiona of the
~ r
gip~CUpt~7' A~t o~ ~$~~~a°- ~jmen~-°~~ m~r~er or c.~qsoli~?ti~ ~t. tb~ Upderaigq;ed (oc n$ of
~ agrreeme~
~i;-
thetefa') withont t~re
~tia ~iritoen ~c~o~nsmt of pay~ee;~ (S) fhe`Dndasigned~`a failnce ~uly to aoo~ant, ~to Payee•s satia-
bctian, at anch time oa times a~a~~a~e?M~ice~ .fa, a~r of tby oo~4tecal..a. P.r!oce~ ~ g~ao~ the
"g~;'~c i6) tbe institntion o~aa~'snft a!'f~ting the'Unaeisig~ed deemcd by Payee to affect
c:ontr~l of the Un~ast" "
adveraely its ia~rest haeimder ia the collaoer~l qr othwwnse. Payee's failnre tp ezercise an~.of its rigLts unda
; r;:. i~. -er--~ y r _
this P~BF~ abttl
atof ooodti~te a ~wu~?ei~t~ieo't:'' ` .
Upon n~~ayment of imtaest a any installment of pcincipal wLen dne. the Undersipe~d and anreties wthoriu
j the Payee tq sell, at pnblic or private 8ale. aay a all oollataal deposited and propaty Pledged w secore the pay-
~ ment of tbis Note, aad apply tLe p~ncxeds of aale. less eipense. to the p~yment of this Note.
~
~ '1La aecnrity dghta of P~?yee and ita assigna barenader shall n~t be impaired bp aay indulgence, release. re-
newal. ea~oension. a modification wbicb Payee aiay g~ant with respect m tLe indebtednesa a aay puc thereo~ a in
respect to tbe oollst~eral or in cespoct b any endaaer, gwnator, a aucetr witbut aotice a vonaent of tLe Under-
si or eadocaea, uan~orct sucety: - .
~i tis ~w ~ ~ ~ ~d~ ~Mt M~~ ~M a~d ~ ~s! li~t
~
. _ ~ ~ O~L
s i • ~ ~ -
~ . . .
I/We hereby gnarantee paymeac of this Note:
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ltot~. - QarDa't• appiloa~t~ ar qaav~tors awt ~cat~ Not~. lo e~o~porat~ o~. M d~lr ceutboelsd offia~r. ad Mai wst b~ adtisd md
8~1r ath~t~di Pa~e~tp ~Womts os o~'mtas w~c ~z~wb lbt~ m[lee s~. toq~tMe ~6 s/qoatvc~ ot a o~~l p*tera
SBA Fonn 3268 (I1-6!)
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