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Home My WebLink About0599 , ~ c ~ ; ~ ~ t• L ~ ~ t``.t ~ M ~ O~ E SBA LOAN N0. (Fo~ Dir.et ~oon Not Ov~~ S2S,000) t i , . ~ , . ~ ci~ City & State o i a Date ~ ,'U.~~t- 5~ , 19 ~ ~ For value received, w~ (hereinafter called "Undersigned"}, promiscs to pay to ~f Small Business Administration (J~r called "Payee"), at ray«'s Off~ce ir~ t~ ~ ~iLy ~f , State of 1 ur at Payee'~ es' nate rom time to time by the Payee, the sum of (write ~ out amountl dollars, v~~ith inte~est on he pai~p~ncipal computed from the date of each advance to the Uudersigned at the rate of ~ ~ percent per annum, payment to be made in installments as [ollows: su•~t¦r.~ ~..i.~ ~r~i rrwr. wr ~ w..~.~s ae 1~~ Mr'i~1~ ~1~. ~~~1~s M~~r ~ t~ri~ ~ Mi MM ~yl~r M M~~ ~irM M rwrt ~wrM M M~ ii0~ ~t t~~ ~t ~rM f~1i~ .r~ ~1 Mr ~ » ~1 rr M~r M ~ir~1 r i~rwrs ~~rM w ~r ~is M1 ~w i~r. ~ ~ ~ ~L~ e C-tG ~-~.!_-c.~~I~i~ ~-~-N~ a~~~.~ ~ ~ < < ~ Uadersigned further ag~rees that i[ at any time SBA elects to sell or transfer its interest in th~ Loan to a aon- governmental uansferee and SBA determines in its sole discretioa at that time that a reasoaable rate of iaterest, ' taking iato consideration all pertinent factors, oo commercia) obligatioas, with approximately the remaining term ~ of this Note and similar repayment experience, in Eh i in which the Lnder ed or its prin- percent ( ~ ) ~ cipal place of business is located, is. greater than ~ ~ per annum, then SBA is hereby authaized to specify that such higher rate o( ioterest shall be the rate on the un- ~ paid principal computed from the date of such transEer, but such rate shall not exceed seven and one-hal[ percent ~ (7~7~) per annum. The Undersigned shall be notified in writing not less than thirty (30) days be[ore the e(fective ~ date o[ the increase in the rate o[ interest resulting from the aforesaid transier by SBA. This obligation to pay ~ such increased rate oi interest shall be binding upon the Undersigned, its successors or assigns. ~ ~ Payment of any installment of principal or interest owing on this Note may be made prior tn the maturity date thereof ~rit6out penalty. A(firn~ative Covenants. - The Undersigned covenants aud agrees that, until the paym~nt in tull of the moneys ~ oRring on this Note~ the Uadersigaed will: 1. De~ivu to Payee within 45 days atur the ead of each fiscal annual period, a balance s6eet of the Ua- dersigned as of such date and a profit asd loss statement of the Undersigned for such fiscai period, ia form satistac- tory w the Payee; ~ 2. Deliver to Payee with reasonable pro~tness such other Gnancial data at suc6 times a~ in such form as ~ Payee may requesr, ~ ~ 3. Par all taxes, assessments and other governmental charges to which the Undersigned, or the property of the ~ Undersi~ed. is or ahall be subject befae such chuges became delinquent~ ezcept that no suc6 charge need be ~ paid so long as ita validity or amotmt s6a11 be oontested io good Eaith by appropriate proceedings and the Under- ~ sigaed shall have set up on tbe boots of the Undersigned such reserve with respect thereto as shall be required by sound accountiag practices; 4. Keep all of the real and tangible personal property of the Underaigned insured in such amounts and against such risks as may be satisEactory to the Payee or as ue rnmmonly insured agaiast in the same ucas by ownera of similu property. and maintain in face policiea oE thsittadte, satisfsctory to Psyee~ agaiast lia~ility Eoc damsge to persons or property and under all applicable workmen's oompensatioa lawa. ' SBA Fo~m 326D (7-65) ~OQ~ 187 ~Avi _i