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S. Uae the pcoce~da of the loan solely Ea the pu~pctsaa set brth in the AntLoriudoa for tbe Loan issued br
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Payee.
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6. On demaad, reimburse Paree for aary and all e:penses incuRad, or whic6 msy be hereaftar i~urred bp Pay-
ee ~ time to time in oonnectioa with a by? reaso~ of b~xc~w~er's applicadon fot. and tha malcing and administrados '
of. the loaa
_Nss~tive Covs~ts. - The Unde~ai~ned o~renaats aud agRees that, witbont the pcia writtea oonaeat of tLe Ps~r-
ee. Undersignod will no~
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1. Create. asaume or otberwise anffer m eust any mortgage. pledge or other incumbcance npc?n any ot the real
or tangible persooal propeny ot the Undersigned. whether aow owned a heeeaftet ~qpiced. eseept (a) lieas fa wces
or othu governmeatal chuges n~t deli~uent a being o~ntesced in good ~faitb. or (b~ pnrc6ase meney liens upon p~op-
uty acquired af~er the date of the Note. aad ot6er lieaa upon auch property st the time of tl~e acquisition th«eof.
2. (a) If Undersigned is a oorporatiou, declare a pay aay divide~ o~ make any distri6naon upon its caQital ~
stock, a purchase a retire aay of its capital stoct. a coneolidate or merge witb any otha company. oc make any
sdvss:ce~ dit~cdy s~s indirecdp. bY wap of lota, gik, bom~s, oammisaion. a~ ot6envise. tu unY ~P~Y direcdy or iu- .
direcdy oontrolling a aEfiliaoed witL or aontrolkd bp Undersigoed, a to any of~cer. director. o~ employee of Unda-
sigped. oc of a~r snch oompany. (b) if UndasigAed is a putnership a individnal. make aay distribution of assets of
the business of Undasigcied. other than reaeonable c~ompensation br acrvices. a mate a~r advance. direcdy ar i~- ;
direcdy, by way oE loan~ gift~ boans~ c~ommissian, a otheiwise, to any putner a any of ita employaes, ac to any
wmpaay direcdy or indi~ecdy contrd~ing or aH'itisted with or controlled by Underaigped.
Bvesa of De~aol~, • The indebt~edness (including principal. intenst and e:penses) s6a11 im~ediately became ;
due and payaWe. withant notice a demsnd. n~oa the appoin~nent of a receiver.a liqaida~~ whether voluntary a in- i
vnl~tary. ior the Undersigned or for any of its pnoQaty. a npon the 61ing of a petition by a against the Uaderaign- _ ~
ed uader the pc~ovisions of any Staoe insolvency law oc unda the ptnvisions of t6e Baelanptcy Act of 1898. as amen~
ed, or upon the making by the Undersig~ed of aa assigumeat fa the beneHt of ita creditas. Payee ia antborized to '
declue all a aay put of the iedebtredness immediately ~ne aad paysbte npon tLe Lappening oE any of the folloeaing
events: (1) Failure to paY anY part of the indebtednesa wLen dne; (2) no~erfo~manoe by tL~ U~dasigned of anr -
agReemmt with. a any condition imposed by. Payee with reapect to the indebt~edness; Payee's disoovery of thc
Undersigned•s fiil~ in any application of the Uaderaigned w Payee Lo disclose any fact deamed b~r Psyee to be
materisl a~ of t6e mal~ing therain ar in any of the ssid agreementa~ or in anp ~davit a other docnmeats submitted
in o~naection with said application a the iadebtedness, a of any misrepceaentstion by, on be6alf ot, o~ fo~ tbe benc-
6t of the Underaigaed; (4) the reaganization (other thaa a r6o~ganiution puranant ~o aay of the proviaions of t6e
Bankruptc~? Act of 1898, aa ameaded) or merger or consoliditian of tLe Undaaigned (a tbe m:king of sny ag~eemeat
thaefa) ~rid~ont tLe prior ~vritten oonseat of Pay~ee; (S) the Undasigned's failnre dnly to aooonnt, to Payee's satis-
fiction. u auc6 time a times as Pa~ree msy reqni~e, fa aap. ot the collataal. a pcoceeda thaeo~ ~ooming in~o the
control of tbe Undasigned; a(6) the inatitutioa of -ury snit affec$ng the Und~eraigaed deemed by Payee w sffect
adversely ita inoerest herewpder in the collateral a otbawise. Payee's failure to e:etcise aqjr of ita rights unda
I this puagFap6 shall not oonstitute a~raiver thereof.
~ Upon n~npaymeat of interest or any inatallment of principal whea dne. t6e Undersigned and suceties aucnoriu
the Psyee to sell. at pnMic or private sale, a~? or all oollateral deposited a~l propaty? Pledged tfl secure the pay-
ment of this Note. and applr t6e proceeds of sale. less e~ense. to the paymeat of tbis Note. '
'!be security rights of Payee aad its asaigna heremder shall n~t be impaired by any indalgence. retease, ro-
newal~ ezoension, or modification wdich Payee may g~ant ~vith raspect ~o the i~ebtedness or any put tLereo~ a in
respect to~ tbe o~llataal or in reapect to a~? endorsu, gnuaator~ or surety ~vit}aut n~tice a oonsent of the Under- . ~
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signed or any endorsa~ guuaator or surety. ~
~ 1iII'~is Nt~~ ~s ltsw h~unt~o Nt eue 6ssds ad asals tbt day mii ~
~sas l~s~R a~r ~cittra• . aod ,11L~ l!~ Nillla~s ~
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- I/We 6aeby guarantee payment of this Note:
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Not~. - Caspavt~ appllo~mt~ ar Pwvatoe~ ~st ~t~ Iiot~. In ooe~~ord~ n~. bf 8~ir wtAoelsrd o~tlar. md Md dt b~ ~ilsd md
s.Ir ac.se.at vaefn.r~lp ~pltomt. ac yoQmto.r ene .=.wb Noa m tlm nm., wy.tb.r .?1ffi .:yoacor. ot a q~rwd paw4 ~
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- SBA Form 3268 (2-66)
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