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Home My WebLink About1946 S. Use the procCeds oE the loan solely for the pucposes set fortb ia t~e Autborization Ea the laan isaued br Paree. 6. An demaed, reimb~use Payee for a~r aad all e:pensea inc~ured. a w6ich msy t+e heresEter iACUmd b~r Pay- ea from time to time in cvnuection with a by reason oE bo~rower's spplieatioa Eo~, and the mal~ing and adminiatrsdoa of~ the loa~. Ne6ativs Covesasts. - The Uadasigned covenanta and ag,~ees tl~a~ witbout the prio~ written eoascnt of the Pa~ ~ ce. Undersigncd will aut: ~ 1. Cceate, aesume a atharrvisc suffer ~o e:iat a~? moctgage, pledge a other iacam&aoce upon any of the reat • a tingible pecsonal pcnperty of the Undusigaed. whet~er now o~vned or 6eceafcer acquired. except (s) liena fa t~zea a other governmen4l chuges not delinquent er being oontested in good•faith~ or (b) purchase mo~y litna upon prop- ercy acquired aftec tLe date of the Note. tnd ot~er lieoa upoa such property at tbe time of tbe ac~uisitiQn thercol. 2. (a) If Underaigoed ia s corporation, declare a pay any dividzcd ot make any distribution ~on its capital stoek. or pureLase ar retic~e auy of its capital stock, or aonsolidate a merge ~vitb aay othec company. a make any advance, direcdy a indirecdy. by way ot loan, gik. bonus. oosnmission, oc othenvise. to any company dicecdy ot in- t direcdy controlling a alfil+_atcd with or o~ntrolled hy Undersigned, or to any officer, director~ or empivyee of Under- sigaed, or of any such company~ (bj Undasigned is a putnership or individuai. cnake any distribution of assets of the business of Undersigned, other thaa oessonable compensation 6or services~ or ,nake any ~edvance. diracdy or io- direcdy~ by way of Iwn. g~ft, bonus. con,missioa. or otherwis~. to any partaer a aay of its employees, or to any oompany direcdy or iadirecdy controlling or affileated with or controlled by Undersigaed. ' ; I Bve~ta o j De/asl~ i The indebadnesa (including principal~ interest and e:penses) sLall immediately beceme # due and payable, witbout notice or demand. upon the appointm~nt of a receiver a liquidatnr, ~?hether voluntary oc ia- t wl~mtuq. for the Undersigued or £or ainy of its property. a upon the Gling of a petition by or against the Undasign- ed un~ier the provisions of any State insolvency la~r or under the provisions o[ the Bankruptcy Act oi 1$98. as amend- ed, a upon the maEing by the llndcrsigaed of an assi~ument fa the bene6t of its creditars. Payzc is aathorizod to declut all or any put of the iudebudaess immodiately ~ne and payable npon the happening of anq of the follo~ving events: (t) Faiiure to pay aay pari vi 'u,~ ;u :~S:tc:;,;:da :.~a due; -(2) nonpe~forma~e 6y tbe Uadersigned of any agFeemeat ~vith. or any condition imposed by, Payee ~vitl~ respect to the i~ebtednesa; (3) Payee's disoovery of the Undersigned's failure in any application of the Unders~gued to Payee t~ disclose any fact deemed by Payee to be matecial or ot the making therein or-in any of the said agreements. or in any afGdavit crr ozher docuanents subnitted in oonnection witL sud application or the indebtedness. or of any misrepreseutation by~ on behalf of. er fa the beno- fit of the Undecsigned; (4) the reaganization (other than a reorganization pursuant to any of the proviaions of the 8ankruptcy Act of I898. as amendtd) or metger or consolidatian of t~e Undusig~ed (or the making of any agreement therefor) without tLe p~ior written oonseat of Payee; (5) the Undersigned'a failure duly to ac~count, to Payee's satis- factioet. at such time or times as Payce may require, fa any of the collateral~ or pc~oceeds thaeof, caming into the contml of the Undersigned; a(6) the instimtion of any suit affecting the Undersigned de~med by Payee to affect adversely its inLerest 6ae~wder in tht collateral at othetwise. Payee's failure to ezercise any of its rights tmder this paragcaph shall not constitute a waiva thcreof. _ Upon mapayment of interest or any instiltment of principal wben due. the Undersigned and snretits antho~ize the Payee to sell. at pnblic or private sale~ any or all ro1l:Laa1 deposited and pruperty Pledgod t,o secure the pay- ment cf this Note. and apply the proceeds of sale, lesa ezpense, to the pzyment of this Note. The security rights of Payee and its assigns herew?der shall not be impaired by any indnlgcnce, release, ro- newa!, ezLensioa~ a modi6cation ~vhich Payee may g,raat with cespect oo the i~abtedneas or airy part thereo~ a in respect to the oollateral or in respect tn any e~ser, guarantor. or snrety ~vithont notice ac oonsent of the Under- signed or aa~ endorser. guuant~r a aurety. ~ tN Malfi~lS Y~~ w luew liraes+~ ~t ere ~ari~ aat ~1~ tJy iq ut f~ ~ut i~tra~t , abrw r~f~o. ' l~~IY3 lt. QAii~ D. ~~i/ T/~ ! State Documentary Stamps in the ! ~ amount of 25.50 attached to original ~ and canceled. ~ ~ ~ ~ i/We 6ereby guaranue payment of this Note: ~ ~ . ~ ~ ~ Nou. - Corpoeat• appilcmt, or quQmtas mast •r~ae. Not+. tn ooryoeat~ em~. L7 dolr autbotfz~d offfasr, md isd mst b~ ~tlmd md dolr atbst~d: DQ~~P aDDllomts or qu~v?tas mnst et~at~ Noh lo ife~ o~s, toq~tMr wrltb alqmtun of a q~osrd p~fwr. ~ a 800K~61 PACE SBA Form 326D (7-65) cro iss-~~~ , ~ :'~r a ~ : a.~. :F ~ ' s^ _ +A ~ J . . ~y.~'-`'-: tj ' ~ . _ _~~L` .