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7. Oe d~wond. tNw~ueM HoW~t oad sBA. eNp~tlydy; Eot o~y and all lncurerd. ar whtch ~ea~r b~ I~~wttK lncurnd b~? :
HoW~t oc aBA ho~ fIM !o Uw~ tn coe~tlon wlth ot by no~ ol bottowK'a o~llcatla~ (ot, aad 1!r iaoklnp and od~oln/sKo-
Uon oI~ t!M loan.
Co~awtba. BateowK wtU 11s1t t!r totol anaua! ooapnwtbn (lneludlrq wlotb~. v+11!?dwwal~. bosuws. commtr
•lons. denv+leq ocaounb and oth~r po~nwnb wlMtMt dlerct ar indlnct. !a mon~r. or oth~wi~~) ot oll ot(ic~c~. ~tockhold~c~.
dincta~. P~~. P~oprMtors ar oth~c~ nanMd lMnin to tM tollowinp e?am~d p~t~an~ ln tM amount Nt oppostb ~ach cr
~p~ctlr~ noaMt
NA PO6ITION AMOUNT
and. !I pKmilt~d by the Autlw~lmtion oc by liold~t, such oddttlo~wl mnount to ~och sald party as may b~ necyssary to Pop hLs
tneome tose~ on wW conip~nsauon eomput~d on th~ basls that such comp~~ratlon ls his oaly ineom~, ptovid~d that such addl-
tiaal aawunt shall not ~:oe~d th~ ~ist ta: payabl~ by ~ach sald party. Boctow~r, !f b corpocation. moy. upon priac wtltMn
riotic~ to Bank ot fts lnt~ntto~ so to do. accru~ oe tts books a~ pay odditlaal comp~n~ation to any p~csan nam~d '?.x+l~ Pto-
•~d~d that. if paW. ~uCh addltbnal camp~t?satlw~ L laitnedlably loat?~d to BoROwK by such petson tar th~ use of Bariower
~untll th~ Loan L P~1d 1n tull. •
Ne~U~e Govs~t~. - The Und~cslqnsd cowmrts and aQrsss that, wlthout th~ ptLor wrlttee con~aot oi th~ Holdar hereol, the -
UndeeslqeNd w111 aot: .
1. Cnat~. assum~ oc oth~rwi~ sulE~r to ezlat any naortqaqs. plsdqe or oth~r inc~sohradce upon any of tM real o~ tanqibl~ p~rsar
al ptop~ctr oE th~ Und~nlqrwd, whsther ~ow owoed or Iwr~aiMr pcqulred, ~zespt (a) llsns tor tazes ac othsr qov~nmental
clwrq~s not d~llnqwat or betnq cont~sted 1n qood ialtb, or (W Purchose mon~y li~ns upo~ Propa:tY acQufred aftar ths date of
th. Noa, a~d oth.~ lf.n. upon such prop.~tr ae cl~e tfm. ot the ocqufsltbn ihersof,
2. (oI It Und~eslqned !s a aorporetba, d~clare or pQy arry dl~ldsnd ec mats nny dbtributlon ~pon !ts wpltel aexk. or p~chase or -
nthr Qap of ita capltal seocl~, or eon~olLdob os m~rqa witk anr oths~ wapanY. oe make m?y adrm~a, directly or 1adlncUY. bY
way of loan~ qlit. bonv~, oommisaloa, or otl~twlas, to anY oomp~y dlr~cfly or lndiroctly cw~holllnq ot afElliated wlth or oon-
troll~d by Undtsiq~~d, oc ta any otfic~r. dlr~clot. or smploye~ of Und~csiqnsd, or of ~y such oompany, (b) if thidRSiqned 1s a
p~aternhip or indlvldual, mai~e any dfstributlon of osseb of the bwln~ss of Undarsiqnsd, othsc than reospmble compea~atlon
for Mev1oM. oe mobs any odraMV, dl[eeUy o~ indirsctlY. bY waY of lom, qfEt, bon~s, comnLLssloo, ot oth~cwls~, to aaY P~~
ot u~y of ib ~mploy~e~, or M any compaay d!»cdy oe lndlnctly ooufrolllnq ot offtllated ~rith or controlled by Undersi~sd. _
?
Ewnb ot D~fault. The lnd~badn~ss (includinq ptincipal. lntareat ord~ezps~es) sholl lmmediatsly becoms d?r and pay~le.
wtthout aotic~ or dsmar~d. upon t1~ appolntmsnt of a~nceiver cc 1lquldotot, whethar voluntary as tn~oluntary, Eoc th~ Uadet~ • .
sfqtid or foc any of Ib pcop~cty. or upon the tllinq oi a pstltion by oc aqaleNt t!r Und~rsiqned unda the pro~isioas oi any
Stat~ ie~olnncy lavr oe ~ ttM pro~is!«~s oE tha Hanlr~tcp Act of 1898, as amended, or upon tbs moklnq bp ths U~dae~
s/qned oi an wslqam~ent foe ths benefft of its aeditors. Holdes 1s euthcrls~d to decl~e all os any part of tM fndebtednsss
imaMdf~obly dw aad payabl~ upon ths lwpp~nlnq of any of the tollowinq ~r~nta: (1) Failure to pay any p~t of th~ lndsbbd-
n~ss .nh~a dw; (2) ao~arformanoe by the Undeisiqned of any aqcaement with. or any eonditlon imposed by lialdu ar SBA, or
~itha~ of thsm~ wlth csspect to tM fndebt~dr~ess; (3) Holder's dfsaovecy of the llndersiqned's failure in nny appllcatlon ot tir
Lhid~esiqned to Hold~r ar SBA to di~CloN any iaet d~sm~d by Fblder to b~ matarlal er of th~ makinq t1~usJn oe in anr oE tM ~ -
I soid opr~ea~tnb, oi in any affidavtt oe otLsr documents submltt~d in conn~c.-tlon with ~aid appllooUon or th~ lndebtedn~as, a
j of aay ml~p~watation by. on bstalE of. ae for th~ bsn~fit oi th~ Und~rslQ~sd; (4) th~ rearqanlzatlon (other than o reaqaniza-
~ tbn p~rsuanY to nay ot ths pro~Lsioro of ths Banknfptcy Act of 1898, as amsnded) or m~cq~r or consolidntlw~ oi the Und~e~-
~ si~ed (ar th~ swkinq o[ any aqre~m~r?t ttieesEar) v+ithout.th~ priec written consant oi Halder; (S) the Underslqnsd(s fallun duly
~ to aceount, to Holde~'s wtistactbn, at such tims or tlma~ as Holder map nqufrs, fot aay oi tbe colloteral, or pcoeeeds thsre-
~ of, ccminq lnto tA~ confrol of t1~ Uad~rsl~rd; ot (6) the lnstitution oi ~y sutt aftectinq the lJrd~niqned deem~d by lioW~c
to afbet odv~rs~lr ib inbreat her~und~s fn the collateral a othetwlse. Hold~t~a ~nilure to ~:arcise any of its r/qhb under
I thL pam¢aph sldl not co~tituts a waiwr thsreoi. ~
Llpon nonpaym~nt of intsr~~t o~ any lnstallment of peineipol wMn du~, tb~ LkidecsiqMd aad suntls~ authaclz~ !M Eiolder to ~
s~ll, at puW1e or pcfvah sa1~, any or all collateral depositsd ~d propKty pl~dq~d to secuce the payment of thls Nots, ond apply
th~ proos~ds of sals, les~ ~zpeas~, to th~ paymsnt of this Note.
TMr Nc~rltr rlahts oi Holdet and !b as~iqns l~en~d~r shall not b~ lmpalrsd by any indulqenc~, nl~as~, renewel, ~:ten~bn,
ot modlUootl~~n whicb Hold~t ~mar 9cant wlth r~sp~ct to t!w Indebt~dn~ss ot anr part tMrwi, o~ tn r~sp~ct to ths oollabral or 1n
n S to o_~_erdoraerl qu~a+it:
~ s~
lthou~~. M` ~ i~. ~M.~yer t*~
~~sw w¦~~w
tss.s .~w. .eitq.. ~rre~,s fl~a+~u a ~.e~.ie• lres+~il
~ .
~
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~ 1/W~ h~nby quarant~e paym~r?t of thL Not~: !?i~
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(Ii q~~mctatr ls tpufnd in a loon owr iS0.000, Bcu~k shall ob
tate quaraatr on SBA Fo~m 148B.)
No1s. - Carpaatr opplloonts ar quarantan mwt ~sscut~ Not~, 1n ooeposot~ rwn~~ bp duly autlwru~d oHkw. and No! muat b~ f
aHls~d and duly atbs/di p~tn~shlp appilemit~ ar quarvntots mwt ~s~cul~ Not~ at l~ast ln llrm nan~, top~thw with ~lqnntun
d o q~d om~tnK.
i~A FORM ~~0 IfO~l1 . . " P~ ~ U R ,
. a~ i86 ~ ~238 ~
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