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Home My WebLink About0433 ~ ~ ~~'~i S. Use the proceeds of tha loan solely fo~ tba pu~po~es aet fonh in the Antborisatioo Eo~ tLe Loan isauod by Payee. ' _ 6. On demaud. ceimburse P~yee Eor aay snd all e~eases incnired. a whic6 msy be bereatt~er incutced bgr Pay ee fras time w time in oonnection with ac b~? reason of borrowec's spplication for. aad che making and ad~iaiatration - of~ tbe lo~n. ~ . . , ~ Nesstive Covs~ts. - The Undersigned oovenaata aad agrees t6at, witbout the pnor wtitten oonseat oC the Pap- ? ee. Underaigned will a~~ i 1. Create. assute a otlrerwise suffec o~ e~ist a~r mortgage, pledge a other incumb~ance upon anr of the real ' or nngible pe~eonal propeny of che Undasigaed. whether now owned a henaftc~ aFqpired, e:cept (a) liens fa tu~a o~ othar g~overnmentai chuges not delinquent a being oontesud in good~faitL, or (b} pnrchase mo~y liens upon p~pp- uty acqwred aftu t6e dau ot the Nou. anci other liens ~poa auch p~opecty at the time of the acqniaition thereof. 2. (a) If Undersigped is a aorpaation. declare or pay any dividend or make a~? distribution ~pon its capital soock. or pucc6ase ar retirc any of its capital st,ock. or oonsolidaee a merge ~vith a~? otha comPanY~ o~ mal~e any advance~ directly e~ indirecdy. by way of loan, gift, booua. oommiasion, o~ otLerwise, ~o any company direcdy or in- dic+ecdy oonvolling a affiliated with or oontrolled by Underaigned, a w aay officu, directa, or employee of Under- # aigaed, a ot ~y snch a.omp~y. (b) if UndersigQed is a partaership a iodividnal. make any distribudon of asseta ot f the business of Undersigped, ot6er thaa reaaonable oompeasation ior services. or make any advance. direcdy a ia- ~ ~ direcdy. by way of loaa. g7ih, bonus~ eammission. o~ othecwise. ~o any putner a any of .its employees,~ a to aay ~ aompaay d'uecdy a indirecdy oontrolling a affiliated with a controlled by Undersig~ned. Bvswts-ojDe~ailR ~ T6e indeboedness (including pri~ipal.. intereat and ezpeases) aball immediately become . due and payable~ without notice or demand. ~on the appoinoment of a nceiver a liqaidator. ~r6ether voluntary a in- . wluntacy. Eor the Uadersigned or for anr of its property, a npon the Gling af a petition bp or against the Undasign- ~ ed undu the provisions of any State insolvency law or under tbe pwvisions of t6e Baaluuptcy Act of 1898. as amend- ed, or upon the making bryr the Undersigned of an assi~uument fa the benefit of its creditas. Payee is anthorizal to declue all or aay part of the indebtedaeas immediatdy due and payable upon the happening of any of the following events: (1) Failure to piy aay put of the indebtedness w6en dne; (2) noaperEoc~ance bg? the Undasigned of any agReemmt with, ar any coadition imposed bj+, Payee with respect tn the indebtednesa; Paree'a disoovery of the ~lnderaigaed's failure in any application of t6e Uadarsigrned to Payee oo discloae an~r fact deemed bSr Psyee to ba mat~rial o~ of the makiag thecein or in any of the said agreements. o~ in aar ~davit or other docaments aubmitted ~ in oonuection wit6 said applicatioa o~ the indebtedness, a of any miarepresentation by. on behalf of~ or•for tbe bene- 6t ef the Underai~ed; (4) the roaganiz:tioa (othu than a reagaeization purswnt ~o aay oi the provisions of the ~ - Bankruptry Act of 1898, as smended) or merger or oonsolidatian oi the Undexsiped (a tbe mdung oE a~? ag~reeme~ therefor) witLout the pcior written oonseat oE Payoe; (S) the Undasigoed's failnre dnly to aocount, w Payee's satis- faction. at auc6 time a timea as Payee may reqnic+e. for my of t6e oollaceral. ar pc~oceeds thereoE, ooming ino~ tbe conwl of the Uadersigned; a(6) tLe instiwaoa of a~? snit affecting the Underaigned deemed !ry Payee w affect adversely its interest haeimder in the collaLaal or otherwiae. Payee's fail~re to ezercise aay of ita rights uoda ~ ; tbis puagiraph aLall not oonstitute a wuva theceof. . ~ , = f ~ Upom m~psyment of interest or any installmeut of principal w6ea dne. the Uadersigned and anreties auinorize ~ ~ the Payee to sell. at pnblic ot privau sale. any or ail oopataal deposited aad property Pledged to secure tbe pay- ` ment of thia Nate. and apply the proceeds of sale~ less expease~ to the paym~at of thia Note. . ~ 'lUe security rights of Payee and its assigaa hereunder shall not be impaired br any indulgence. release, ro- newal, ~:tension, a modification w6ich Payee may grant ~vith c~espect tn the indebtedaess o~ any part thereof, a in respect to tLe collatual or in respect tasny endorser, g~uttuto~. or snrehr witho~rt n~tice ae oonasnt of the Under- signed or any endorser. guuantor or sarety. - - I~ 11~ 1~0~~ N Mls MM~M MRi dll~ ri~ a~i ~Mti tih~ ~~0+~ ~i~ ~11! lys~i ali~ l3~iw1~ 1l~t MIL1.Ulls ~ i~u Q~[ Mi 11.iY! ~/q/a ! •a ; . . G1'`.~ , ~ - - ~ . . ~ , ~y~~ , I/We hueby guarantee payment of.t~is..Nou: ~~~'iv~•t ' ~ . • ~ 3 , _ ~ ~ Not~. - Ceepaeab appliea~t~ or quarmto~s swt ~z~a~t~ Not~, In ootyotate n~1. b~ d~lr aotboda~d oiRo~r, md Mai su~t b~ atilad md a~lr aee..t.a: vatrMn6lv ~qltomt. or qoQmews .a.e .a~.exe• rtoa m tl.m nm., to~tl,.r .dm aqwtm. ot a y.e.rat pQto.r. ~r ~ SBA Form 3268 (2-66) rw~c 6I0 903,~=2 • ~ ~ _ - - - ~:°u