The URL can be used to link to this page

Home My WebLink About1380 , ~ , , t ~..1~ ,i? ~ V ~ ~ ~ ~ ~ ~ S. Uae the proceeds oE tlie loag solety fot the pucposes s4t fortb in the Aadarizstion for tlie Loan issned by Payee. . ~ . ; 6. Oa demand. reimburse Payee for any aad all ezp~ases incurred, ~~which may be hereafte~ incurced by Pay- ee from time to time in connection with or by reason of borrower's application for~ and the makiag and administration of ~ the loan. , . . ' : ' Nssatsve Coveaarats. - The Undersigned covenaots and a~ee~ that, without die prio~ written oonsent of the Pay- ee, Undersigned will aot: ~ . , ~ 1. Create~ assume or otherwise suffer to e:ist any mortgag~e~ pledge or other incumbcaace upoa aay of the real or tangibl~ personal property of the Undusig~trad. whcther oow oMrned oc heraafter acquired. escept (a) lieas Ea tazcs or other governmental charges aot delinquent or being contested ia good•Esith~ or (b) purchase money liens upon prop- erty acquired aEter the date of the Note. aad other liens upon such property at the time oi the acquisitioa thereof. ~ 2. (a) If Undersigned is $ corpor~tion, declare a pay any dividend qr m~Jce any diatribution upon its capital stock. or p~schase or retire auy of its capital stock. or consolidate or merge with any othu c~pany~ or make any ; advance. direcdy or indirecdy. hy war of loan. gih~ bonus. commission, or othenerise, ta any company direcdy or in- direcdy oontrolling a affiliaLed ~vith~r oontrolled by Undersignad. ot to aay oEE'icer. ditcctor~ o~ einployee of Under- sig~ned~ oc oE aay such company. (b) if Undasigaed is a partnership or individual~ make any disvibution of assets of the business oi Undersigned~ other t6an reasonaWe compensation for services. or make any advance~ direcdy or io- direcdy. by way of loan, gift, bonns. commission. or otherwise, t~ ~ny partner a any of its employees, oc to any oompany directly or indirecdy conuolting or afCliated with or controlled by Undersigned. Events o j De faal~ - The indebtedness (includiag principal. interest and e:penses) shall immediately become due and payable~ without notice or demand. upon the appointment of a receiver or liquidator, w6ether voluntary a in- voluntary~ for the Uadersigned or for any of its property, a upon the filing of a petition by or against the Undersign- ed under the provisions of any Stau insolvency law or under the provisions of the Bankruptcy Act of 1898~ as amead- ed~ a upoa the mal~ing by the Undersigned of an assignment for the benefit of its creditors. Payee is autborized to declare all or any part of the indebtedness immediately due and payabie upon the happening of any of the following ; events: (1) Failure to pay any part of the indebtedaess whea due; (2) nonperformance by the Undersigned of any 3 agreemeat with~ or any condition imposed by, Payee with respect to the indebtedness; (3) Payee's discovery oi the Undersigned's failure in any application oE.the Undersigaed to Payee to disclose any fact deemed by Payee to be material or of t6e making therei~ or in any of the said agreement~, or in any atfidavit or other documents submitted in connection witI~ said application or'the indebtedness~ o~ of any misrepresentation by~ ao behali of~ or for the bene- fit oE the Undersigued; ,(4) th~ reorgauizatipn (other than a reorganization pursuant tn any of the_pcovisions of the Baalcruptcy Act of 1$98~ as amendEd) o~ me~ger br consolidation of the Undersigned (or the making of ~any agreement therefor) without t6e prior written conse~t oE Payee; _(S) the Undersigt~ed's failure duly to accoun~ to Payee's ,satis- faction, at such time or times as Payee~may require~ fa any of the collateral. ot proceeds thveof~ comiag into the control of the Undersigned; ar (b~_thf iqstitution oE any suit affeeting the Undersigned deemed by Payee to affect } adversely its interest hereunder iQ ffie collateral a otherwise. Payee's failure to ezercise any of its rights under this paragraph shall not constitute a_waiver thereof. . ~ ~ . - s i ~ ; Upom m~payment of interest or any installment of principal when due, the Undersigned and sureties aucnorize ! the Payee to sell, at pub{ic or private sale~ any or all collateral deposited and property pledged to secure the pay- ~ ment o[ this Note~ and apply the proceeds of sale, less expense, to the payment of this Note. 4 ~ 'The security rig6ts of Payee and its assigns hereunder shall n~t be impaired by any indulgrnce~ release, re- ! newzl~ eztension. or modi~ication which Payee may grant with respect tn the indebtedaess or any part thereof~ or in ~ reapect to the ooliatetal ar in reapect o~ any endaser, guarantor, or sorety without notice or consent of the Under- ~ S ~~"IIii~~p~~`~rt~ ~ dre ho~i ~1v1d ~wL tir i4 aYd ~o~a! tis~t abvw . • ~ ~~8~ ~~I (,1/lr~/a ~ ~ - ~ . ~ ~ ~ ~ 1/We 6ereby guuantee payment of this Note: ~ . ~ ~ . . ~ s.: ~ ~ ~ ~ ~ Note. - Cayorate aypltc~ts or quamtors must e:acvte Note, In oarporate n~. br dulY a~+thorized ofHeet, Qfd sed must De atflzed md ~.K dulr attested; pcatner~lP apPllcmts or quQmtora must ~ecvte Note tn flrm n~e, toqeth~r wrlth slquature oE a qanetd patn~. ~ ~ ~1~ . ~ SBA FORM 3268 I11-a7) , ~r ~ ~ ~ GPO 932-9p7 ~ ~ a ~ _ . : . . - ' r~ :x ~Y~.,"' " - ' .t ~~c . ~~"~_.~~'vb:.. ~;=~`..--~.~__~~-1` _ . ~t^-~ .H: ~.r3k