HomeMy WebLinkAbout1046 _ . , - .
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O ~ idR LOAt! N0.
a»~ ~..M t~« or.?3~.000)
. City t State 1~ ~I~i'~i ~ EL~I~A
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For vslue received._~~ Z~~~ (~ereinafter c~lled
"Undexaigned••). pwe~ises ~o.pty So e e~. o[ Soall Bnsin~as 1~~iAiatruiea called "~'ayae••), at .
Pa~ree's Of~ce ia t6e citp of A~A State of .
a at Payee's option, at auch other place as mar b deeignat ~tos tisa W ti~e by t6e Pajree~ tde aua oE (write
out amount)?Mi1~~~Irt ~AI~1 A~ M*M!~ dollajs. with interest o.o~ nop~id principal _
computed hom the date of each sdvaace w the Underaigaed at the ra~e of f`~/= e'
percent per uwnm~ payment to be made in iaatallutents as follawaT . -
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sw~ir! ~f Mt~ i~t~t~L~wtts 4d t!~ Y~la~ i! a~ryi ~ l~~~~
a~M. t1N i~slaAa p~i~sl rM l~t~e~t~ ~a~l~ ~~ar I~t~. tM ~1~)
~asa tsr det~.~ _ .
; Underaigned hut6er agtees that if at any time 5BA etecta to aell or vaasfer its intercat in the Loan to a non-
go~vernmental transferee and SBA determinea in its aole discretion af tbat tim~ that s reasonsble rate oE intercst,
' uking into cansideration sll pertinent factora. oa commercial obligstians, with app~wcimately the remaiaing-tena
of tLis Note and similu repspment experience, in the sectioo of the country in which the Underai or its prin- .
cipal place of business is Iocated, ia greater than f~N ~i M~'Yil~ percent ( ~ 7~)
per aanum~ then SBA is hercby authaiud to speciEy that such Lig6er raie of interest ahall be the nte on the un-
paid principal comp~ted fram the date of aucb traaaEer, bert suc6 rat~ sh~ll not exceed seven aad one-half percent
; (7~) pcr annum. The Undersigned s6a11 be notified in writing not less than thirty (30) days befare the effe~ctive
i due of the increase in the rate of intcrest teaultmg irom the aEoreaaid uansfer by SBA. T6is obligation to pay
~ auch insreased'rate oC interest ahall be binding upoa tbe Underaigned, its successars ot aasigna:
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Payment of aay inatallment of priucipal a inoerest aving on tLis Note may be mad~e pria m the maturitjr date thereof
without penalty. ~
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A jfirwotive Covs~ts. • 1'he Un3asigned covensaRS and agReea tbat, umtil the paymeat in inll of the moneys
awing on thia Not,e. the Undersigaed wi1L•
1. Ddiva L~ Payee wit~in 4S days aher the end of eac6 Eiecal ananal paiod. a balaace s6eet of the Dn-
dasigned as of sach dste aad a profit and lass atateme~ of the Undasigned for such Gacal periad, in form satisfic-
oory ~o tLe Paye~e; .
2. Deliver to-Payee with reasonabtt QromQtneas anch otha 5naacial data at such times ud in auch form as
Psyee msy rcquest; ~
3. Pa~ ail tuee, asseasmenu aad other governmental chugea w wbich the Un~ersig~nod, or t6e pc~operty of tbe
Uadasigped, is or shall ba aubject before such charges becoms delinqneat, ezcept thst ao auch cLarge need.be
paid so loog ss ita vdidiq a aa~mt sha11 be contesta! in 8ood fait6 bgr apprapriate procaedinga and the Under-
signed shall have aet up on the bool~s of the Underaigaed suc6 reserve wit~ respect thereto aa sLall be reqnired by
sound aeoonating practioea; _ .
4. Keep all oi the real aad tangiWe peraonal propert~ of tbe Undasigaed insnced in anch amonnts and against
sncb risi~a u may be satisfac~ory o~ t6e Psjree ot as are oommody iasured againat in the same ueas by o~vnus ot
similar pcnperty. and muntain in face pdici~ea oE in~sarsace, sadsfactory w Payee, against liability Edc da~msge w
persons or pcoperty and under ali applicable w~al~men's vompeasation laws.
. SBA Form 326D (7-65)
~ a~166 ~1044
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