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Home My WebLink About0813 L, ~ ~ Z'~ 1 S. Use the pcoceeds of tl~e loan solely Eor tLe purposcs set forth in thc Autho~ization for the Loan issued by ~.y~. 6. On demand, reimburse Payee for any and a!1 ezpenaea incurred. or ~rbich msy be hereafte~ iACUrced by Pay- ee trom dme to time ia coanection witli a by nasoa of borcowe~'s applieadon Eo~. and the making aad adminiatration of~ the loan. 1 Ne~~tive CoveROata. - T6e Undecsigned oovcnants and agrees that~ witbut the prior written ooasent of the Pay~- ~ ee. Undersigaed will oot: ~ 1. Create. assum~ a otherwise aufE~r oo e:ist any aartgage. pledgt or other incumbrance ~pon any of t6e real • ot tsngible pe~aonal property of the U~ersigned~ rvhether now o~rned or heraaEter acquired, ezcept (a) lieas fa tuea at othu goveramental cbuges not delinquent ac being conteated ia good•faith. a(b) pnrchaae money lieas upon prop- erty scquired afttr the date of the Note. aad other liens upon such propecty at the time of the acquisition thereof. , 2. (s) If Underaigped is a cocpaation, declue or pay any divideud or malte any disvibution upon ita capital ~ stnck. or p~rchaae ar retine any of ite capitai atock, or consolidate ar merge with a~r otha campany, or make any advance. direcdy or indirccdy. by way of ioan~ gih. boaus. commiasioa. or othenvise. to any compaay dicecdy or in- direcdy oontrolling a affiliaoed ~vith or oontrolled by Undersigned, or w my oEficer. director, a employee of Undu- sig~aed. or of iny suc~ campany, (b) if Undasigned is a putnership a~ individnal. make aay diatribution ot asseta of the buaiaess of Undersigoed, other thaa reasonable compensation br services. or make any advance~ dicecdy a io- direcdy, by way of loan. gift, bonua. oommiasion. or ot6erwise, to any partner a any of its employees. a to any oom~uny direcdy or iadirecdr oonaoiling « a~iliued wi~h or conaolled by Undersi~d. ~ Evests ojDejarl~ -'1'he indebtedness (includiag pcincipat~ incerest and eacpensts) shall immediately beoome due and payable. ~vithout notice or demand~ t~poa the appointment of a receiver or liquidator. ~rhethet voluawy u~ in- s+trlu~tsr-j. ~r the Ua~rrsig~sd ~r f4r ~ny Qf iits proQertyt ar upon the filing of ~ petition by or against the Undasign- ed und~r t}~ prorisions of any Stata insolvency law or under the pwvisions oE the BsnkruQtcy~et of 1898. as amend- . ed, a upon the making by the Undersigned of an aesig~nment fa the 6ene6t of its creditas, yee is autbocized to declue ail or aay put of the indebLedness immediat~ly due and payable upon tLe happening of any of the following events: (1) Failure t~ pay any put of the indebtedneas when due; (2) nonperformance by the Underaigaed of any agReemeat rvitL, or any conditio~? ia~osed by. Payee with respect to the indebtedness; (3) Payee's disoovery of the Undersigned's failwe in any application of the Undersigned to Payee to diaclose any fact deemed by Payee to be maurial or of the mating therein or in any of the said agreements~ or in any affidavit or other documeats aubmitted in oonnection with said application or the indebtedness. o~ of aay misrepresentation by. on bchalE of. or for the bene- fit of the Undersigned; (4) th~ reocgaaization (other than a~eorganiution pursnant to any of the p~ovisions of t4e Bankrnptcy Act of 1898. as ameaded) or merger or coasolidition of the Undersi~ed (a the making of aay agreement ; t6erefor) withont the prior written consent of Payee; (S) the Undersigned's fiilure duly to account, w Payee's satis• ~ faction. at such time or times as Payee may require~ fa any of tbe collaterai~ o~ proeeeds thereof, comiug iuto the coatrol of the Undasigned; a(6) t6e instiwtion of any suit afEecting tbe Undersigned deemed by P:yee to affect adversely its interest haceuader in the collaLe~al or otherarise. Payee's tailure to ezercise any of its rights uader 'win W::~~~~h s6a!! aat c~rtstitute :~siYer thereof. ~ Upcxi mnpayment of intaest or any installment of principal w6ea due, the Undersigaed and sureties auinorize the Payee to aell. at pubiic ur p~ivate sale~ any or all coUatecal deposited and property Pledged to secure the pay- ment of this Note~ and apply the proceeds of sale, less ezpense. to the payment of t6is Note. 'Ibe sectvity rig6ts of Payee and its assigns herenader shall noi be impaired by any indulgeace~ rtlease, re- newal. c~t~ension, or modi6cation which Payee may grant with nspect to the indebtedness or any part thereof, o~ ia respect to the oollstual or in respect to a~? endorser. guuuntor~ or surety withom notice or o~nsent of the Under- ib0~r Zt+Mi~~~ ~ or sur t~? ~ N'~ NI! wM/S ~ N~~ M/ 1~ rMT ~Sl~ i. n~ror, ~n.~ r~ats~or, wn~ wnr~woN ~ ~~~a o. ~tmo~ r/V. L a ~ ~oa~ ~rer ws I/We hereby guarantee payment of this Note: a Note. - Corpocats applicmts ot quQmton mut ~z~cnt~ Nol~. lo oorpocaRs a~. br B~Ir wthoriz~d ottioer. md swt must b~ aittsd mi dnl~ att~atd; pQtne~tp applicmts or qu~tors owt e=scvte Not~ tn tlro nme, toq~th~r rdW st~atae~ o[ a q~ral pQfa~r. Q R SBA Form 3268 (2;66) ~ ~ BooK 154 213 ~ GPO 40.1d22 t Y-~.* r-w- N,"-~-~ , , .~'i~ ~i""~ _