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Home My WebLink About2426 S. Use tAe p~oceeda di the loan solely fa the pucposes set Eorth in the Autborizadon Eor the Loan isaued by Payee. _ ~ 6. Oa danand. reimburse Payee for any and all ezpenaes incuned. oc which may be hereafter ineurred by Pay- ; ee ~om 6me to~time in connection ~rith or by reason of boriower'a applicado~ for. aad the making and administradon ` of. tLe loau. . ~ Nesatiue Coveuasts. • The Undusi~ed ooveaante and agrees that, without the pria wriuen oonsent of the Pay- ` ee~ Undersigned will no~ ~ 1. Create, assume or otherwise suffer Lo e:ist any mortgage. pledge o~ other incumbcance upon aay of the real : or tangible personal propecty of the Undasigned. whether noW o~vned or hereafter acquired. e:cept (a) lieaa fa tuea or ott?e~ governmental chugea not delinquent oc being contested in good •faith, o~ (b) purchase money liens upoa prop- . erty acquired after the date of the Note. and other liens upon such property at the time of the acquisiaoa thereof. ~ 2. (a) If Undersigned is a corporation, declue or pay any divi~nd or make auy distribution upon ita capital ~ stock, or purchase a retic+e any of its capital stock. or consolidate a merge wit~ any otha company. a make any advance~ direcdy a indirecdy, by way of loan, gift. bonus. oommission, or otherwise. to any company direcdy or in- direcdy oontrolling a aEfiliat,ed with or oontrolled by Undersigned. or to any officer. dincta. a e~playee of Under- signed. a of any such caanpaay, (b) if Undasigned is a pumership a individual. make any distribution of assets of the business of Undersig~ned. other than reasonable compensation 6or services. or make any advance. di~+ecdy or in- direcdy, by way of loan, g~k, boaus, oommission. or othecwise, to any pactner a aay of its employeea~ ot to any company direcdy or indirecdy controlling or affiliatai ~vith or controlled by Undersigned. Bvewts o j De~aslt y Tbe indebtedness (including principal. interest and ezpenses) shall immediately becomt due and paysble. without notice or demand. upon the appointment of a receiver or liquidao~r, arhether voluntary a in- v~luatary~ Eor the Undersigned or for any of its property, a upon the ~ling of a petition by or against the Undersign- ed under the provisions of any State inaolvency la~v or under the provisions of the Banlcrnptcy Act of 1898. as amend- ed, a upon t6e making by the Undersigned of an assigpment fa the bene6t of its craiitas. Payee is autbrized to declue all oc any put of the indebtedness immediately due snd payable upon the happening of any ot the following events: (1) Failure w pay any put of the indebtedness when due; (2) nonperfocmance by the Undereigned of any ag~reemeat~rith,_ar an~ condition in~osed by. Payee vvith respect to the indebtedneas; (3) Payee's disoovery of the Undersigned's failure in any application of the Undersigaed w Payee w disclose any fact deemed by Payee to be material a of the making therein a in any of the said agreementa~ or in any afGdavit or otha docwnmts submitted in oonnection nviti. said application or the indebtedness. or of any misrepresentation by. on belu?lf of. or fa the beno- fit of the tJ~ecsigned; (4) the reaganization (other than a reorganization pnrsuant Lo any of the provisions of the ; . BankruQtcy Act of 1898, as zmended) or merger or consolidatian of the Undersigped (or the making of any agreement ~ thereEor) ~vithout the prior written oonseat of Psyee; (S) the Underaigocd's fsilure dnly to sccount, to Paj!ee's satis- ~ faction, at such time or times as Payee may reqnire~ fo~ any of the collaural. oc proceeds thereof~ coming in~o the ~ control of the t~ndusigned; a(6) the institution of_any suit affecting the Undersigned deemed by Eayee to affect adversely its int~erest herennder in tLe collat,eral or otherwise. Payee's fail~e to e:ercise any of its rig~ts nnda this puagraph shall not oonstituu a wuver thercof. • ~ ~ Upom m~payment of interest or aay installment of principal ahen due~ the Undersigned and sureties authorize ~ the Payee tn sell, at pnWic or private sale~ any or all a~llateral deposited aad property Pledged to secure the pay- ' ment of tlus Note~ and apply the proceeds of sale~ less e:pense~ to the paymeat of this Note. f , _ . ~ 'Ibe security rights of Payee and its assigns hereunder shsll not be impaired by any indWgence. release, ro- ~ newal. eztension, a modi6cation which Payee may gRant with respect tn the indebtedaess ar any put thereof~ a in ~ ~ respect to t6e ooliateral o~ in respect to a~r endorser, guaraator, or surety ~vit6ont notice ar oonsent of the Under- ~ ~ signed a any end~rser. guarantnr or surety. ~ Lr ~atti~i~ h.v. h.s~aur?to s•t our A~nds ana ..a2: !h. aa~r ana th• y..r issst abo~r~ ~rsitt~n. AVIt~I MILt.IAM 3t~0iAN AND 88TiY J~ S~AiAM ~/a ~ SZAAlI' ~ ~EitYll'~ ~ ~ F t 1 ~ ~ . _ ' - AYt3'r l~i~ slOi11 ' I/We hereby guuantee payment of this Note: p~! Oin ~ - ! s i ~ ' ~ ~ i i Nota - Corporat~ appllomt~ or qnamtors mnst ~z~cvt~ Not~, ln oorporats o~. br ilr antboHr~d otHoer, md ~al must b~ alfts~d md ' dulr albstd; parfwea~ID ~pllomt~ or qnamtas miut a~ts Nots to ifem o~s. toq~tb~r rith at~aitan ot a 4aosral p~twr. ~ SBA Form 3268 (11-61) ~ & ~o sooK 152 25 ' ~o - . "'S`s.~'~ j ~ . , . I . I ~ ' ~ ~+~:r~'r~'k'AK`~ ~.~z~ ""F j I ..5a ~