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Home My WebLink About1179 3~`~ 5. Use the pcoceeda of tLe loan solely Eor the pu~poses set toctb in tAa Aut6orization fa tLe Loan issued by Paree. 6. On demaad. reimburae P~yea fo~ aap aad all e~ense~ incuned~ or which may be henaftec iocumd bp Pay : ee from time w time io oonnectioa with a by reason of borcower's spplicatioo for. and tbe makiag aad administration ~ of. the loan. Nes~tive Cow~t~. • The Undaaigned oovenants and ag~ees tbat~ witlant tbe pcia w~itten oonsent of the Pay- ee. Undecsigned will ao~ l. C~eata, assume a otherwise snEfa to eust a~r moctgage. pledge or other incumbrance npon aar of tl~e real or tangible peraonal pcopaty of the Undasigned. w6etha now owned or henafter acqnired, ~cept (s) lieas fa tues ~ o~ odiet gov~ernme~l chuges not delinqnent a being ooaoesoed in good'4it6. or (b) pnrcl?ase money liens upon p~op- crty acqwred att,ar the dat,e of the NoLe. and other liena upon such property at tbe tine of the acq~isidon thereoE. 2. (a) If Undersigned is a co~poration. declare or pay aayr dividend or make a~r diatributian nQon its capital sooclc. a puccbase ar retire say of its capital swck, or oonsolidaoe a merge with any otLer campany. a make any advaace~ di~+ecdy a iadirecdy. byr ~ray of loan. Bift. boa~s. commisaioq a othe~wiae. to a~r oompany direcdy ot in- dioecdy oontrolling a affiliaoed with or ooatrolkd by Uaderaigned, a L~ ~ny officer. dir~cta. a employea of Uder- signed. a ot any sncL oompany, (b) if Underaigned is a putaership ar individnal. make a~r distribution ot aasets of the business of Underaigood. otber thaa c~eaaonable compensation br aervices. a~ make aay dvance, direcdy or io- direcdy. by way of loan. giEt~ boans. oommiasien. or othecwise. to any putnex a aay of its employees, a to any oompanr d'uecdr a indirecdr eoatrdling o~ a~'iliatcd witb or controlted by Uaderaig~red. BoeRta o j De joulR ~'fhe indeb~edness (incl~ding principal. intereat and ezpenses) s6a11 immediately become due and payable~ witbout notice or demand, ~pon the appointment of a receiver or liqnidamr. whether volnntary ar in- ` violuntuy. fo~ the Undarsig~ed or for any of its praperty. a apon the filing of s petition b~r ar against t6e Uadasigu- ed uader th~ pcovisiona of aay Stata insolvency law or uader the povisiona of the Badanptcy Act of 1898. as amend- ed, ar npon the making by the Undarsigned of an assigpmeat fa the bene6t of its aeditas. Payee is aut6aized w declare all a any pact of the iadebtedness immediatdy dne and payable upon t6e 6appening of any of the following eventa: (1) Fulnre to pay aay part of the indebtednesa when due; (2) nonperfo~manoe bry? the Underaigned of any agreemmt with. or any conditian impoaed by. Payee wit6 respect to the indebtedness; Payee's disoovery oE the Uadersigned's fiiture in any application of the Undasigped ~o Payee ~o disclose any fact deemed by Payee to be maucial or of the making therein or in any of the said agreemeats. or in aay affidavit a other docnmeats subanitte~ in aonnection with sud application o~ tLe indebtedness. or of aay misrepresenudon by, on bebal[ of~ or fa tbe beno- fit of the Underaigned; (4) the rea~ganiution (other than a ceorganiution purstunt to any of the provisiona of the Bankruptcy Act of 1898. ss amcnded) or ~nergu or oonsolic4tian of the Und~eraig~ed (or the making of a~r ag~r«ment therefor) withont the priar written oonseat of Payee: (S) the Undersigned's 4ilnre dnly to aooount, co Payee's satis- factien. at snch ~time a~ times as Payee may require, for any of tbe collateral, a proceeds thaeof, ooming ino~ the oontr~t of tba Uade~aigaed; ar (6) tbe institntioa of a~r snit affecting the UndersigAed deem~d by? Payee to affect ~ adveraely its inoerest hue~nder in the collateral oc othawise. Payee's 4ilure to ezercise any of its righta under ~ ~his puagwph ahall not oonstimte a Naiver thereof. ~ i Upon noapaymeat of intaeat o~ any installment of principal wben dne. the Undersigped aad suretiea auinorize the Payee to sell~ at public or private sale. any or all aollat~*sl deposited and proputy Pledged w secure the pay- ment of thia Nooe, and apply the prncceds of sale, leas ezpense. to the payment oE tLis Note. - The secority rights of Payee and its asaigna hereunder ahall not be impaired by anq indWgence, release, ro- newal, eztension, a e~odification which Payee may grant ~vith respect to the indebtedness or aay pact t6ereo~ a ia nspeM Lo the oolisteral ar in reapect to aay eadasu, guuanto~. or surety withoat nodce ac oonsent of t}~e Unda- signed or an endors__ _er, gn: ito~ nret~ ~ * w ~ ~ ~ ~ ~ ~ ~ ~ ~ I/We hereby guuantee payment of this Nou: i troe•. - Corporaa• appliomts or yuQmtas ~.e .s.~ve• Not•, ln eorpora• n~. M ddr wehorls.d of(losr, md ..d sna b. atitssd md dn17 att~st~d: p~Ln~r~1D aDDltomts or ~tot~ moN ~~at~ Nob lo f1m nm. toQ~tMr wfth alqoatuti oE n Qat'al parfw[ SBA Fwm 3268 (2-66) 6P0 9Q~r22 . d~V1~~~ • ~ - . k .,,y_ ~ ~ , ~ y cr °s