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3. Use the proceeds of the loan solely fa tbe purposas set torth ia tlie Authwciution fo~ the Losn issued by ~
Payee. ?
6. Oa deaoand. reimburse Payee for a~r aad all e~enaes incutred. o~.vhic6 may be dereafce~ incucred by Pay- ,
ee brom dme to timc ia oonaection ~vith or by reaaon of borrowcr's applicadon tor. wd the making and administration
of. the loan.
Nesative Cove~ts. - The Undersigned coveoants and agteea that, without tbe pcior rvritten ooaaeat of the Pay-
ee. Underaigned will ao~
1. Create, asaume or otherwise suffa Lo exiat any mortgage. pledge or other incumbraace upon any of thc real
or tangible personal pc~operey of the Uadersigned. rvhether now oWned a hereafter acquired, escept (a) liars fa tues
or otbet governmental chuges not delinquent o~ being ooatested in good faith, or (b) purchase money lieoe upon prop-
~cty scquired aEter the date of the Note. and other fiens upon such property at the time of the acquisitioa t6ereof.
2. (a) If Undersign~d is a corpasdon. declue or pay any dividend or make any disvibution upoa ita capital
stock, or purchase or retire sny ot its capital atock~ or consolidaLe or merge with aay other compaay, a make aay 3
advaac~, dic~ecdy o~ indirecdy. by ~vay of loan, gik, bonus. oommissioq a ot}rernise. to any company dic~ecdy or in- ;
dicecdy controlling a aU'iliat,ed with or oontrolkd by Underaigned, or W aay of~icer. dicecta. or employee of Under• ;
signed, ac of any snch oomp~ny, (b) if Undasigoed is a partaership a individual. make any distribution of assets oE i
the business of Undersigued. other tban reasonable compensation 6~r services. ot make any advance. direcdy ot io-
dirccdy. by way of loan. g~ift, bonus. commission. ar athenvise. to any p:rtaer a~y of its employees. a to any
o~mpany direcdy or indirecdy oontrolling or affiliated with ot controlled by Uadersigned.
Evei~ts o/De/ail~ y The indebtedness (induding princepal, interest and e:penses) ahall immediately beoome
due and payaWe~ ~vithout notice oc demand. upon the appointment of a receiver or liquidabr~ ~vhether voluntary a in- ;
v~luntary, for the Undersigned or for aay of ita property, a upon the Eiling of a petition by a agaiast t6e Undersigo-
ed widec tha provisions of any StaLe insolvency law or under tbe p~ovisions of tha Bankruptcy Act of 1898. as amend-
ed, or upon the making by the Undersigned of an assi~mant fa the bane6t of its creditors. Payee is autbaized to
declarc aIl o~ any part of the iadebtedness immediately c~ue and payable ~wn tLc happening of any of the follorving
events; (1) Fulure o~ pay any part of the indebtednesa ~vhen due; (2) aonpedormsnce 6q the Undasigned of sny ~
ag,Reemeat ~?ith, a any condition imposed by, Payee with respect to the ind~btedness; (3) Payee's disoovery ot the
Underaigaed's fiilure in any application of the Undersigned tn Psyee to disclose any fact deeme~l by Payee to be i
material or of the making therein o~ in any of tDe said agreements, oc in anr afGdavit or other documents aubmitted
in oonnection with s~id application or the indebtednea~. ar of u~y miarepcesentation by. on behalf of. a~or t6e bene-
6t of the Undersigncd; (4) the ~eorganization (other than a reorganization pursuaat to any of the proviaioas oE tLe i
Bankruptry Act of 1898, as amended) o~ merger or consotidation of the Undersigrned (or the making of a~? ig~eement ~
therefor) ~rithont the prior ~rritLen conaent oE Payee: (S) tbe Undersigned's fiilure duly to aetount, to Psyee's satis- f
faction. at such time or time8 as F:yee msey_ nquire, for any of tbe collateral, or pc~nceeds the.reof. coming into the ~
oontrnl of the Unduaigned; a(6) the institution of any snit affecting the Undersigned deemed by? Payee w affect ;
adversely its interest haennder in the collaural a otherwise. Payee's failure to esercise any of ita rights nnder '
this paragraph sLall not caonstitnte a wuver t~ereof.
1
Upon nonpayment of interest or any installment of principal when due. the Undersigned and sureties authorize
the Payee w sell. at puWic or private sate, any or all oollateral deposited and proQerty piedged to secure the piy-
ment of this Note, and apply the pc+oceeds oE sale~ less ezpense. to tbe Qaymeat of this Note.
'I~e security rights of Payee and its assigns hereunder shall nut be impaired by any indnlgence~ release~ ~e-
uewal, eztension, ar modification which Payee may graat ~vith c~espect to the indebtedness or any part thereo~ a in
respect to the eollateral or in respect to a~+ endo~ser, guuantor, or snrety witbut mtice a oonsent of t6e Under-
signed or any end~rs~r. guarantor or sarety.
IM MIZN~i MItN~f ~ w A~tw h~swmto s~t ous bte~ds aad s~als t!M d~ and tM Yaas
:irst abo~w .a~stt.n. j.~owwo n. ~m. ~ ~wu? wu~aisr r. ~~t.
t/. ~ r.v. a~uss a ~ca
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I/We hereby guaranue payment of this Note:
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Not~. - Garyarat~ appilomt~ or quamtan un~t ~~cvb Not~, la oosporad~ 4~. M dnlr wtho~ls~d otiiosr, ad Mal mnst b~ adLs~d md
mlr aee..e.a: v~•b1v wVUomt. o. Qoame«s w.t .:«ut• ldoa m Uem nams, eoQ.tb.r .It6 al~alur. ot a Q.a.rot p~rfn.r. i
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( SBA Fam 3~6B (11•61)
( ~0 •~4~7t/ ~OnY~to
; YII J 513
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