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Home My WebLink About1383 ' ~ , , J~~~~~ ,,p~~`;V'. . J i L~lM~W~C~ I~t E _ ss~ ~o~, . F.. c~~ NN O~rK i2.i' ,ooo) ~ . c i I ~ t ~ c,tr a~ sc.c~ ?Foa r ~ ~ ~ c . .c ~2~c?4~ I - a~•l~•N ~-~-~iNt aM M~e+~aa~~q !ril~ ~!M , 19~ For value received, a s~i t~1 (hereinafter called "Undersigned")~ promises to pay to the ocder of Small Business Admiaistratioo (6ereinaEter called "Payee"). at Payee's Office in the city oE ~~a , State o[ ~s . a at Payee's o tion~ at such other place as ma be designated from time to time by the Payee~ the sum of (write out amount) t~ dollua. with intercat an thc unpa~d incipal computed from the date of each advance to the Uadersigned at the rate of ~~~t ~ percent per anaum. payment to be made in installments as [ollows: • ~ ~e !~lM~ ~t l~s~Ml~ !t d1~ ar~nR ~ ~iAi.~O~ ~13~ l~il~d~t t~s~ p~ ~wRir Ma. Mi~ ~ Lrl~li~¦~¦t a D. l~s~t .~tt~t a~~we a.~s.~i a ar ~.a rt s~w~~e ~t Mtt l~c~1ti- arot,~ aa~ dr ~as~N. r4i b te~l~Sl. r tia lasar~ ~t ~cl~l ~rt l~i~t ~qat~l~ w~e tw~ lt~w t~~ . ! . i ~ i i Undersigned further agrees that i[ at any time SBA elects to sell or transfer its interest in the Loan to a non- governmental uansferee and SBA detecmines in its sole discretioa at that time t6at a reasoaable rate of interest, taking into consideration all pertinent factors. on commercial obligations. with appro:imately the remaining term ' of this Note and similar repayment e:perience, in the section of the coun ia w6ic6 the Undersigned or its prin- E cipa~ place of business is located, is greater than ~A percent ( ~ ~ per aanum, ihea SBA is hereby suthorized to specify that such big6er rate of interest shall be t6e rate on the un- paid principal canputed Gom the date of such uansfer, but such rate shall not ezceed seven and ~e-half percent (7~K) per annum. The Undersigned shall be notified ia writing aot less than thirty (30) days before t6e effective date of the increase in the rate of interest resulting [rom the aforesaid uansfer by SBA. This obligation to pay ` such iacreased rate of interest shall be binding upoa the Undersigned, its successors or assigns. Payment of aay installment of principal or interest wving on this Note may be made prio~ w the maturity date thereof witbout penalty. + A j~in+sative Covenanta. - The Undersigned oovenants snd ag,rees t6at, until the payment in ful l of the moneys orriag on this Not~, the Undersigned will: 1. Deliva to Payee within 45 days afLer the end of each fiscal annual period~ a balaace sheet of the Un- dusigned as of such dau and a profit a~ loss s~teme~ of the Undersigned for such fiscal period, in form satisfac- tory to the Payee; ~ 2. Deliver to Payee with reasonable prompmess such othor finaacial data at suc~ times and in such form as ; ~ Payee may request; i : ~ 3. Pay all tases, assessments and othu g~avernmental chargea w which the Undersigned~ o~the property of the j Undusig¢ed, is or ahall be subject before sucL charges become delinqnent~ e~ccept that no such chargc aeed be ~ paid so long as its validity or amount s6a11 be oontested in g~ood faith by appropriate proceedings and the Under- ~ sig~ed shall have set np on the books of t6e Undersigaed such reserve with reapect t6ereto as shall be required by sound accoundng practices; ~ 4. Reep all of the real and tangible personal property of the Undasigned insured in soch amounts and against - suc6 risks as may be satisEactory to the Payee or as ue oommonly insured agaiast in the same areaa by ~rvnaa oE aimilu property, aad maintain in face policies of insursnce~ satisfactory to Payee. againat liability for damage to peraons or property and under all applicable vralcmEh'~ oo~pensstion laws. SBA Form 3260 (7-65) ~ " 1;3~ ~.#i ~ . .~~,~`-,~`_Y ~.,,;u r1°._ L~( i ~ ~ • ;,h i I ~ ,