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Home My WebLink About1721 c r ; • !R ~ ~ ~ ! ~ ~:V „l~ t, i S. Use tha p~o~ceeds of tbe la?n aolely for dte pu~poscs sat forts in the Autborization fa tbe Loan iasued by Payee. - 6. Oa daoand, ceimburse Payee Eot au~ aod all c:pensas incncred. a whics may be Dueafter incu~c~ed by Pay- ee Irom time to time in connectioa rvitL a by reason of bo~rower's application Eor. snd the making and adminiatration of, the loaa. Nesstivs CovsRm~ti. • Tbe Unclasigaed oovenants and ag~reea tLat, without the prior writtea eonaeai of the Pay- ea, Undersigned wiit no~ 1. Create, assume or otberwise auEEer to eiist ai?y mortgage. pledge a othet incumbcance npon any ot the eeal or rangible peraonal propacq of the Undasigaai. ~rhethec now owned or heceaher uquired, e:cept (a) liens fa tues o~ othec gov~ernmental chuges not deliaquent a being oontested ia good~fsit6. oc (b) purcLuse money lieas upon prop- e~ty acqniced after the date of the Note~ and other lieas upon such property at the time of tLe acquisition thereof. ' 2. (a) If Underaigned is a oorpaation~ deciue oc pay ~ny dividend or make any diatributioo npon its capital s~ock. a pure6sae a c~etire any of ia capital swcl~. er consolidate or merge with aay otba compaay, at mske any advance, direcdy or indirecdy. by way of loan, gik, bo~nus, oommisaion, a otberwise. to wy company direcdy or in- direcdy coatrolling a affilisttd with or oontrolled by Underaign~d, or to any of6cer. dicecta, a emplayee ot Uader- signed, or of an~ such company, (b) if Undasigped is a partnerahip e~ individwl. make any disaibnaon of assecs of the buainess of Undersigned, other than ~+easonable compenaation br services~ a make any advance~ dic~eedy a~ ia- diracdy. by way of loao, gj~ft, bonus. c~ommission, or otherwise~ to aay putnu a any of ita employeea. a tb any oompanr direcdy or indirecdy controlling a aff'iliated with or con~olied by U~eraigaed. 8veata o~De~aalt i The indebt,ednesa (inclading principil. int,ereat and e~cases) ahaU immediately become ' due aad payaWe, ~vithout notice or demand. upon the sppointrnent of a receiver a liquidamr~ ~rhetha voluntary a in- volimtary. for the Undcrsigned or fAr any of its p~operty, a upon the filing of a petidon by or agaiaat the Undasign- ! ed nnder the provisions of aay Stat,e insolvency law or unda the provisions of the Bankru~tcy Act of 1898. as unend- ~ ed, a upon the making bryr the Underaigned of an assigpmeat fa the beae6t of its aoditora. Payee is autLorized to ~ decluc all a any put of the indebtedneaa immediately ~ne aud payable nQon the happ~ning of any of the foitowing events: (1) Fulure to paq any put of the indebtedness ~vhen due; ~2) ao~erfonuance by the Undersigned of any agFeemeat with, a any condition imposed b9, Payee wid? c~espect to the indebtednese; Payee's disoovery? of the Utidersigaed'a 4ulure ia aay application of the Underaig~ed w Payee to disclose a~? fact deemed by Payee to be - material o~ of tbe making tbaein at in aay of tba said agretmeats. oc in anp atGdavit or other documents submitt,od in cbnnectioa with said application ac tLe indebtedaess. a of any misrepresentation by. on behalf of~ or fo~ t6e benc- ~ 6t of the Uadetaigaed; (4)_ th~ ~eergaaiution (other thaa a reorganiution puranant m a~ny of the provieioas of the ~ Bankruptcy Act ot 1898~ as amended) a merger or oonsolid~tian of the Undersigped (or the making of a~r agreement thecefo~) witbont t~ prio~ Mrritten oonseat oi Payce; (S) the UndersigAed's failnre duly w aocouat, to ~Psyee's satis- - factioa~ at anch time ar times aa Pay~ee msy reqnire~ fa any of th~ collaLerst. or proceeds thaeoE~ ooming into the ~ oontr~t of t~e Undasigned; ar (6} tbe inatitution of any suit sffecting the Unckraigned deemed by Payee to affect adversely its inLerest hexemder in the collaLeral or oiherwise. Payee'a fulnre to esercise any of its rig~?ts ~nda this pu~gaph sLal! not-ooestitute a waivu thereof. . Upon n~npaymeat of intaest or any installment of principal w}~ea due. the Undersigned and suretiea authorize the Payee to sell~ at pnblic or private sale, any or all oollataal depoaited aad property Pledged w secure the pay- : ment of thia Note. and apply the pr~oceeds of sale. less ~zpense. to the paymeat of tbis Note. 'lbe security rigLts of Payee and ita assigns hereunder shall not be impaired bp any iadulgenca, release, ro- newal~ es~ension, ar modi&cation which Payee may grant 9vith respect w the indcbtedness or a~r pa~t thereof, o~ in respect w the oodlataal or in respect to a~+ endasu, guarantor. or s~uety witbut n~tice or oonaent of the Unda- aigned or any endots~, guaraator or a~ety. - - DI R~96 ~iEA~~ w~ b~re Ma+~urr~o sf! aMr br~ds aM s~aU th~ itY +~M th~ ~s !ii'st atio~w t~a~itt~n. i~!' !Jl~ttK M~~it ~ AUiUB~iA LYLL=NI a I~ ~ C~If~ 'I I 'i ~ I - I/We hereby guarantee payment of this Note: i ~ • ~ i Not•. - Coeporal• opptlome. or quQV?ton ~st ~s~cuc• Not~. Jn oapord• em~. M dolr antborfr,~d ot(tosr, aad ~ mnst b~ altisd md dolr att»t~d: P~tn~nAlp appucmts «quQmtoe~ mo~t ~~wt• Not~ lo U~e n~, toqNl~r v1W slqWatne~ oe a q~ral pQenw. ~ SBA Form 326B (11.64) ~a....~., ~o~~5p~_ g ~ . . ~ ~„~"`M ~ ~ k-s~ _ • ~ ~ q ~ '"~i