HomeMy WebLinkAbout2060 ~
~ ,t ~ ,
.
S. Use the proceeds oE the losn solely [o~ the pu~pusea ~t W~tlr iu the Auth3riutiaa for the Loaa issued by
Payee.
6. On demand~ reimburse Payee for a~r and all ~spensea inc~ured. or ~vhich may be hereafter incurred by Pay-
ee from time to time in coanecdon with a by ceason of borrowa's application tor. snd thc making and administration
of, the loan.
Neaotive Covesm~ts. • Tse Undersigned covenanta and agrees thst~ wit6out the pria rRiuen oonsent of the Pay-
ee. Unde~signed will aot:
1. Create. assume or otbenvise sufEer ~o esist a~? mortgage. pledge or other incumb~ance upon aay oE the real ;
or tangible pe~aonal property of the Undersigned. whet6er now owned or 6ereafter acq~ired, e:cept (a) liens Ea tues i
o~ other governmental chugea not delinquent a being oonteated in good•faith~ or (b) Qurchase money liens upon prop- ,
erty acquired afur the date of the Nou. aad other liena upon such property at the time of the acquiaition thereof. ;
2. (a) If Undersigned is s corporation, declue or pay any dividend or make any dietribution upop its capital ~j
stock~ or purchase a redre any oE ita capital atoclc, oc consolidate a merge rvith a~? other company. a make any {
advance~ direcdy a indirecdy. by ~vay of loan. gih. bonus. commission. or othecvvise. to any company direcdy or in- '
direcdy controlling a aEfiliatad ~vith or controlkd by Undersigned, o~ cu any officer. directa. a empleyee of Under• ~
sigoed, a of any snch campany, (b) if Undasigned is a putnership a individual. make any diatribution of asaeta of
the buainesa of Underaigned. other than reasonsble compenaation for services. or make any advance~ diracdy a io-
direcdy~ by way of loan, g~h, bonua. commissian. or otherwiae~ tu any putner o~ any of its employees~ a to any
o~mpany d'uecdy or indirecdy aontrolling or affiliated with or controlled by Underaigned.
L~vests o~ De~a~l~ - The indebt,edneas (including principal. interest and eipenses) shall im~nediately becane
due and payaWe. witbout notice or demand~ upon thc appointment of a receiver or liquidao~r~ ~v6ether voluntary a in-
wluntuy. for the Undersigned or for any of its property. a npon the filing of a petition by a against the Undasign- %
ed under tbe provisions of any Stat,~ insolvency law or under the pr~ovisions of the Bankruptcy Act of 1898. as amend-
ed. a upon the makiag by the Undersigned of an asaig~nment fa the benefit oE its croditas. Payee is authorized to
declue all a any part of the indebtedness immediately due and payable up~ the ~ppening of any of the foltowing
eveata: (1) Failwe t~ pay any put of the indebtedneas ~vhen due; (2) aonpedormance by ct~e Undereigned of aay
agreemeat with. o~ aay condition impoaed by, Payee with respect to tbe indebtedness; (3) Payee's discovery of the
Undersigaed's failvre in aay application of the Undersigaed to Payee to disclose any fact deemed by Payee to be ~
maurial or of the making therein or in any of the said agreements~ or in any af~davit or other documeats submittad i
in oomection with aaid application or the indebtedness~ a oE sny misrepresentation by. on be6alf of. or for the bene-
fit of the Undersigned; (4) the reaganization (other than a rcaganiution pursuant to any of the provisiona of the ;
Bankruptc~? Act of 1898. as amended) or merger or consolidatian of t6e Undersigped (or the making of a~r agirreement
therefor) ~rithout the prior ~rritten consent of Payee; (S) the Undusigned's failure duly w account, to Payee's satis-
faction. at auch time or timea as Payee may require. Eor any of tbe coUateral. or proceeds thereof, coming into t6e ~
control of the Undersigned; a(6) the instiwdon of aay suit affecting the Undersigned deemed by Payee to affect ?
adversely its inurest herenader in the collateral or otherwise. Payee'a fulure to esercise any of its rig6ta unda F
I this parag,~aph shall not constitute s waiva thereof. .
Upon nonpayment oE intaest ~ y installment of principal when due. the Undersigned and sureties aucnorize
the Payee to sell, at public or pcivate sale~ any or all oollateral deposited snd property pledged to secure the pay-
ment of this Note, and apply the proceeds of sale. less ezpense. to th~ payment of this Note.
The security rights of Payee and its assigns 6ereunder shall not be impaired by any induigence. release, ro-
newal, e:tension. a modification which Payee may gcant with respect w the indebtedness or any pact tl~reof~ or in
respect to the oollataal or in respect to any eadorser, guuantor. or surety wittaut notice or oonsent of t6e Under-
signed or any end~rser~ guarantor or surety.
ZM ~ilN~ 1~ldol. I n.~w Mr~u~o ..t ar b.na ana a.1 tA. d~ ~~ar ts:.s abo~r.
rarlt~n. ~
I/We hereby guarantee payment oE this Note:
~ ' Ma~aswt Aea Nw~tt
Not~. - Corporad~ appltcQ?t~ ar quQO~ton must ~~cvt~ Not~, In o~porat~ o~. br dolr adthorir~d ottiar, md Md must b~ aftlad ad
~tr att~sc~d; p~r~hlp appucaH• oe qu~taes onst a~cvt• Nob m tlrm naq, toq~tbR wiW al~atur~ ot a qaral partwe.
80~1~ PACE ~V 1 SBA Form 3268 (2-bb)
6P0 90Jd22 ~ _ .
.r.~-=:~zs~~ d
~,a -~•y`'~'~'~[r a-v'~.+r~ F;. - y ~~-v"'.. ' :§~''g'
<:_n