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BOOK P~E~$i~
7. Ow d~~ad. h1~b~M Ho1d~t aad 8811, eMp~ctlr~ty. !or any and all ~sp~ns~~ incure~d~ or which awy bs hereaiter incurred by
Ho1d~~ oe SBA llta~ UIN b tIIM lw ooe~erCtlon w1tA Or by e~ospl Ot potww~t's oppllCatlon tot~ cnd ths rtwkinq and adminlstra-
tlou Ot~ 1M 1oa11.
Cosp~awtloa. BoetvwK r?!!1 11a~1t t!N lotal m~nuol co~np~n~atba (includl~q salarl~s, wllhdwwols, iees~ bonusas, eo~:-t4•
•fOlf~~ d10MIp0 OCCOIrIb ~1~ O~IMt pOy~M11b MIMI~Mf dJ(!CI Of ~Ct~ 1n nan~y, o~ otMrwis~) of cil oitlcsrs.~stock`:olc~-s,
dlt+ctots. patt~t~t~. paptf~ton ar otl~~ ea~s~d MtNn to ti» tallowlnq r~oaMd pKaon~ ln ths amount sst oppoaite ecch -A-
.p~cuvr noare
NAME PO.SITiON AM~U1'T
RAI.pH A. AQAN~C ?~resideat ~20, 000. 00
MILDR~D H. Pt;ARR 3ec.~Ct~?r; r-_.~ 000. C~
md. ti p~emltt~d by th~ Authortaqtbu cc by Hoidr. ~uch addlttorwl amount ~o ~ach asld pa~ty os ~aoy be nece-
tnoo~er ta:M oa sald cooip~naatloo caapubd on !b~ basi~ tlwt ~uch compensotfoo i~ hls only lncome. prorld~~ •;:c-
ttonal woouae shall na .xca.d Nr a.~ ~c Payabi. by.ach said ~r. Borww~r, !f a eo~porctto~. may, upoa cr:^r .r_
~otfc~ to Bmik ot lb intwitioa so M do, ascru~ ae 1h books or par additlonal compensatlon !o any peraon nazrr_"
•W~d iMt. U pvid. sud~ addit~oqal comp~n~otfon !s lmm~dlebly loaMd to Eiarower by auch per~or. 'or t?K use o' -
un111 tM Loon tF ~n full.
• ~e l:a~~-.~.~* a. - The Undrnlqr?~d coveennta mfd aqn~s t1wt, wlt2wut ths prlot wri~ten co~seat oi the Ho:der hr.ec' "e
~ ~ :ynad vilW fW' .
C:~ae., ass~ or oel~ewtw .uti~r to ~:lat anr ~~9~. P1ed9~ or othsr fnc~an6ranc~ upon any !he real o-
a' proptrty ot thr Und~nlqned, wh~tMr now ownsd or lkreaftet pequired. e:cept (e) 11sna Sor tcxes oc other _
~~aq~s aot d~Uwve~t ar b~inq contaat~d 1n pood faith, ar (b) Ptirchase maney llens upon pcope::y acauired a:.~-_
tM :Vots. md other ll~ns upon such pro~rty ot tl~s tlms ot ths ocquisi:f~on theieo:. ~
2 " [leld~ssl9n°d !s a oorpo~atloW dsclan at pay any divfdend ot make any dlstribution upoe !!s -
capitol stoc'c, - ec
r~tln ne~y of ib caplMl ~tock, or eo~wlidah os m~rqe rvtth any othrr eompany, or muke eny advcncr, dlrecl:v : by
wey of lom, qltt. bonw, oommf~afoa, or otlrtwis~, to anr oomp~y directly ot lndlrecdy controllir~q or aifil:vte-1 x-:. ~ coa-
troll~d by Und~rsiqn~d, or to any ofiie~q dir~ctor, or eaployee o[ ~Jnderslqnrl, or of,any sucA company, (b) i' :"-:c~r ~3 =s a
past-~rship or !ndlvWuol, ~t. aAy ar.a~a,aoa ot o.Nb o[ the business oi Und~slqned, o:her thon reasorwb:e z. ~uon
ior ss-vfcM, oe make any advance, dlrsctly oe indfrectly, by way of lom, qitt. bonus, commiasion, or otherwise. to ,:~r~:er
. ot ar. of ita ~aployees. or to anY companY dlrectly or lndfrectly controllln4 or aliilfated with or controlled by _-~?e-~_~:
a3. . 's
~reass of De6u1t. TM ind~btedn~w (fncludinq pHnclpal~ fntetest and ezpenses) shall immediately become c::e c-:c xycble, ~
wl••naut aollcs car aemru.~, upon ti~ oppointmsnt of o~eceiver a::q~+:::a:ot, wtistt.er va2untary ar Saro:vn!ar~, -'ar'"
' ~!•m.d ar tor ~y of fa proP.rcr, a~ upoa the ttlf,~ of a p.tfuon by or ayafn.~ ehe Ur~dera~yned uRd~ the prov.s•--s ^s _-y '
S'o•e luwlwncy law or under t!p peevisions ofthe Hankruptcy AcCoE 1898, as amanded, or upon the r.:akinq bti•
s~qned oi on assiq~wnt tar th~ bneflt of !b aedltors: tblder ts authatsed to deelare aII or any part of t2x ~-ess
.r~m~diably dw md payabl~ upon the happenLq of any oi the iollowinq events: (i) Pailuro to pay any par! o` -=c~ed-
-~ess wt~w dw; (Z) ~waparfo~manc~ br tt?~ 1lnderstqned of au~r aqcaemsnt wlth, a~ oay conditlon lmpoaed by Ho;de- o_F+, or
efthsr of tb~m, wit6 rsspect to tbe 1nd~bt~dness; (3) Hold~t's discovary oi the Undersiqned's fallure in any cap::c- o'. the
L'odKSlqn~d to Holdar or SBA to dlselose any fnct deemsd by Holdar to be material oe oi the makinq there:.~ c: :n cr.•• o' ~'.ie
sald aqt~emsnts, a ln any afildavlt or othe: doeuments submltted !n conneetlon with aold applit~ntion oc the '_.-c.+~~'~ -~ss, os
of any mlar~pns~ntatlon by, on behaif of, oc for the benstit ot ths Understqned; (4) the reaqanization (other '~c~ ~-~::~aniza-
, tbn purs~nt to anr of t!r pro~isioas oi the $m~lcruptc~? Act of 1898, as amended) ~ m~qer or cos+solidatlon o' th?
si~d (vr t!w mokinq of anj/ a~eement therafor) without.ths prior written coc~sent of Holder; (5) the Unders:qr.e;'s ~•~-e dely
_ c:count, 'o ~'o2d~r's wtiataction, at ~uch tla~e or tla~es aa Holderaay rsqulre, foe ony oi the cel:~teral, orp:oceecs t^e-e-
caminq ir•: ':e ^ontrol of ths Jr.detsiqnsd; or (6) ths lnstitution of any sutt ui[ectlnq the Unders!q~ed dee:re; ~c -~.cer ~
o afiect advers~ly its inL~rsst here~ !n the collateral or otherwlss. Holder's lail~ae to exercise aay oi !LS z:g4~s e:acer
•~i~ aara¢ao'. ~holl noR eonstitute a waiver theteof. ~
L'po^ noepayca~nt of intere~t or aay f~utallment of prlncipol when dus, ths lY,.'serslqned and auretiea authaiza !'.?e Ho:der to
ML. a! publlc c+- priwf~ saM, atny or aU coilatetai deposlbd and p~qFsrtr ptedqed to secure the puyment of this \'o!e, ar± a~ly '
•'+e -~ds ot sa3e, l~aa ~~rre, to th~ pcymen~ of thls Nots. ;
.°,,s ..curuy rsQha ot ttdd.r m,d ia a.s~yns b.~+.und~ shall not b. fmEwusd br anr sndul9ence,-feieage, rer~e~wa:, e~~ens:on,
o~ ~nad~!iwtbn whfch Hold~e emy qcant wlth eespsct to th~ fndebtsdnes~ oc anr part thereot, or tn reapect to !he cc::c•A-c: e- L~
r~sps:t ~o anr ~ndorssr, quaevntor, or sirety without notles a eor~sent of tM Undesafqnsd oe any endorser, quarc-~c: c: s~~~
IM it~~ k'ts~it~JF, ~~@QCAL Cfll1PAi~~ a l~lotida corporatioa~ ::as ce:~-~-~
rnt to bs ~zecntad !n it• aaaa ~ud oa ita behsl! aad its corporats ~ ~al t^ i-~
asd ths~o~u~ ita ~ul~ ~utborlsed otticers~ tLs ~~~~~?+,.y~~t t-~.-~ ; : _ ;1
10~ CEiBMICAI. COZ3PA.~IY~ a Flor~ ~ ^ c - - , - ~ -
~co~o~?a ss~ . _ - ~ ~
. , /,•s_/, R.alpt~ A. • Roane , S ~ 1.
_ .
f~i~^~ i:
" ATrgg~ :viildred H. Pharr {L."?
. ...:C%~'_'j
~ ~ (II pua[anty ts rpulred ln o loan ovc~ SSO,OOC, ~a-^.t ~,a:: ob-
toln qua~... ~y ~ SBA Form 148I$)
NoY. ~ CatpoeoM opplfoOnb or puarantat~ m~Mt ~~cut~ Not~~ In c. .wms~ by duly aut?wrized oificet, cnd es: =e ~
aEEts.d a,a dulr act.aad; pQtn~rshlp opplJeants o~ qu~antor~ must sxscut~ Not~ at least !n iirm name, toqe!~r- _~::n s:qlo:ure ~
. . oi o q~r~ed paartn~r•
~ YICROFIIY lQ~iO
. fBA Pae~ S~0 N-{t1 P
Legibilit~ oi writin~, typin~
r~f(fY ~ or printing nasstisiactory in
. ~ 1 tbis docu~ent ior micrafileaing
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