HomeMy WebLinkAbout2600 SMALL BUSINESS ADMINISTRATION
GUARANTY - Se~ ~o~N wo.
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:n or.~et to in~~uc•e :~n~ll 4~uatn~ss A.lmtnistr~hrn (he[eu~alt~r catied AA") to r.wk.r a loun cu loans, w~enc~vral oe extenswn tt:t•reot, to ~
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• c~•inatte~ coll•~d tRe bt x"1, the undccsiyned he.eby uncoi~.~:hcK,ally yuarantees to ~RA, tts sucersse~s ~nd ~::siyns, ttie due on:f punctual
.:y-.Pnt vvhan due, wiieti~r by acceleruti.~n o[ etherw~se, in accot3anc~ with tt~e ter:ns ther~ot, ot tF~e pt~ncipal o! and intArest on aud nll otl,er
4ny3blo, or stated 2~~ i~ ~yabl~~, w•ith rrspect te tt~e note ot the t:ebto~, r.;ade by the• I`rn:or to SFiA, dat~:i
prlncip~l amount o! M'ith ~nteteat at ti~e rote o!~„l~V~t ~rnt F~r annun~, =~ich r.ote, ~r.d tF.~ ir.t~r~st tiir.reon
:.~I1 oine~ sums p.syoble •~~th respect th~:eto ~re ~eteinafter collectively call~~ "Ltabiltties." :+s secutity for tl~c~ pcslor:r.ance of eh,s auar-
.!i:e undersi:7nc~ hete~•,' r.:ortquqes, pledqrs, assiqns, ttanstEts and delivers to ;~E3A certuin colloteral (it any), listod ;n tt~e sc Firdul~ on the
.~•~:se st3r hetcof. 'The term "collatetal" as us~i herein shall mean any funds, quaranties, uaree:ner:ts or ether propc•rty or riyi:ts or intPteses
::.v rsuture whatscivec, or the p[creeds th~reof, •whtch r.~ay t~avr been, a:e, oe hereaft~r r^uy ?c, r..ortqaqed, plydqe:l, as~iqnt•~, trunsf~~rr~d ot
_..~~•red ~uectly w tn:iu~ctly by or on 1'Ah~lt oi the C?ebtor oc the un.iersiqned or any other F~arty to ~FiA o[ !e the holdet of t!:c~ ~foresuid note
,^,eL~tat, or whtch ma} have~ iren, are, or here~!ter r.wy bc t,eld I~y ar.y porty us trust.-~ oc o!i:erwlse, ~s secunty, wi~ether ~rac~diate or un-
:.y:nq, tcr the ~rfecm~ncr o`. this au~ron!y er l~:e Eny^.e;~t of tF,e :_i~b?l~ties o! ~ny of ti:•~m et ~ny s~curity t!:e[e1oc.
:?tc- +:n~etsiyned watves any neti: p c! the in~ urrinq by the L~ebtor at ony ttcr~e ot ~ny n! the Liabi[ities, ond .n•otvc~s any and ~I1 preser.tr.cE•nt,
pr:test or notue ei disr.~ner, zicn{uysr.ent, or other def~ult wtth respect to any et tne !_iabiitties and any onliq~ticn oE any party ~t any
..,~~rz:pusc~+~ in the roll~teral. T~he un~~rsiqnc d her~by yr~nts to ~F3:~ tull power, in its un~ ontrolled disc:etion and 'x~theut notice to t:.e un-
,_:;ned, hut suh~ect to !ce provisie:~s ot any ~~qteeme~nt c~twren the i ebtor ~~r any otiier ~arty and Si3;~ at the time in fcrce, to d~al ir. ~ny
.r ncr vvtth tne Liahiliries and the -ollnter~l, tncludin~, hut ~~lhont ltmttinq t}:e q~~neraI~ty of th.~ foreqc:ny. t'r.n to:io~vir.q ~.owers:
i o^:adily ot othetwise ~!:~nqe any t~-cr.~s of all cr ~ny part ef the Liabilttics or ti:~ rase of :nterest t:~e:ecn (i ut not to ircr~ase tt,c
prir.cip~i smeunt ot !he note oi !he : eb2ot te ;$A1, to qtant a:y exter.sion e: aer.e~a•~i therec! ~nd any c't:er ind:.l ~er.ce •eitz res~e:t
t;:ereto, and 'o effect ~ny r~~:c~se, corr.pror-~ise or sett:e.^.tent •xith :espe.t tnereto;
. ^:'o er.ter i:ite ~ny a~rr~::.ent of lcrbrar::r.:e ~.sth respc~ct io alF or uny part of t'.e ?_ianilities, or w:t': respect to •~11 or an~ Fa:t of tt.e
cotlatrr~i, ona to c~i3^~ the ;erm~ cf any such agtee~.c~r.t;
~ To tert~ar from c~llir.q ter a_idrtion~l cellatera: tc sec;ue any of ti:e Liaifliti~s er to secure ar:y oi:l.:iation .c:np:ise.i ir. collateral;
1~ Te cons~nt Lo the substitution, eac'~anoe. er r~iease ef all ot a~y poc! ot t~e celiaterai, whetner ot r.et !t,e ~cltatrral, :f 3r.y, received
b} ~PA upen any suc^. s~:i,stlt~;ion, exchanqe, or rele~se s}3.:ll i~ of t'r.e sar..e or o! a dtffPrent ci3nractot er •r~lue !k:.~n t~:s~ celiatera:
surr~ n.iere3 by cc3,a~
ir. the ecent ef the r.onpay~.er.t wnen due, ~n•i:et:^.er by ~cceier~ti er, et oti:erwise, of any of ti~e 1-.iabtItties, or sn the e~•ent of de:au:t ;n
ttie p~rtorrnance of any obliq~tior; ce:nprlsed 3n the coll~ter~l, to rcvlize cr. !he coilnteraI cr any part `he:eof, ~s a•r.hcle cr :n s~ch
parcels oc sut>dlvided ir.terests ~s ; T_a:; r,ay e;ect, a! a::y ~ ua?ic ez priv~te s~le or sates, fw casi or on cre~it e: ier :e.t~::e ~~•:~vety,
•~:tncut derrand, od~ertiser.:ent or r,cfic~ e! t~e t3r.,e or place ef sale or ony ~djournnc*rat thereot ;the c:r,:iers:q~~~~ iierecy v:3i~:nJ ar.y
sucF, de:rund, advertiser.~ent and r.cuce to :^e exten! Fermitir~+ by i~r~), et by fore: losure or otiierwise, or `e ic:i~~r trcT. rP31:z:r.q
:herecn, a21 ~Bn in its ~:nronteciie~ discre!ien r.ay dee~: preper, ~r.d to purchase ~li er any p~rt e! the cc:.ater:zt ier st= ov.n 3: ccuc:t
~i any sucn sale cr fosecles;ue, such po~+•ers te be exercised only te !ne extent ecrr.:i!ted by la+.•_
'~:e c:ligatior.s of !~e un3etslqc~ed ~ereur.der shall r.ot tie released, ~ischa:grd er :n any •nay atfected, not shail !i~e .r.~ers:yaed ~ave anr
.r.'s cr tecoutse a.;atns! ~A:~, by reasor: of ~ny action SflA r.^.of toke or omi! to take ~.s:~ier tne fcre~e:r.q powers.
case the i.eetor shalt fa:! te pay ail or ar.y Fart c} the Liabi:ities w:en di:P, '~'hethet by ~cceleration cr o.r.en+~:se, a^cor.i.r.q !o t~:e terr..s
>>:3 note, the undersiqr.e~, :r.:aYeaiately u~cn Yr.e +.titten 3er.:ar.d ef S`+t~, vcilt ~y tc Sz3a ti:e aznount ~ue and ur.~ai:i :.y :!~:e i'e~tor os afere-
,~n like manner as s~ch a-:e;:n: cer.st:tu!ed tFe iirect ~rd prir.:~ry ccl:yotier. ci !he ur,~ers_q:ed, ~ B:i Si1Q1I r,ct oP req;:i:ed , pricr to any
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3e:nand on, or payr..er.t ey, t~p um:iersiqr.ed, !o rr.~ke any der.u:.ci upcn et p::rsue cr ex :a•,st any~ c: :ts nqnts ez re:r.Pdies a.;a:r,st !~e ;`ect-
.-r o:hers vcith respect to the Fay:r~n! of ong o! !ce ~i~cilities, or to purs~e or exn::~st ~ny ot its riqnts cx zec,e~ies with resFeet tc ar.y pett
i r.e collater~i. "rhe ~r.dersiqr.ed shali have no zight of sui;ro~;a!icr. ari:atsc-^_ver •.v::!_ res~:t tc the Li3::::!ies or !Fe :-c:l~tera! ur.less ~:i
~ .:8A shall have received l~ll -^ent of all !:^.e Llabilities.
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`-.e ot,liqatior.s of tiee ur.ders?ar.ed 'nerear.~er, ar~~ the rtahts of ~H:+ ir. tZe col:atersi, si~al! r.ot be releosed, ~ischaryed or ir. or.}• ~w•ay ~ftect-
st:all !he ur.~erslqnFd 'r.3ve ar,y :iqhts ~qat~st SBA: by reaser, oi ti:r fact t::at anl cf ti:e ccllateral :.^.ay ee in delaul! ai the :ir.:e cf ac-
_:nce thereo! 5y a~~n er later; nor hy reasor. i~f t~P fac! tr~t a•ralid Iier. ir. ~ny of the ~ellaterol r.xiy iiet be cor.veye3 tek cr cre~ted ir. !a-
SBi,; r.oz by reasor. of ti,e fact that ar.y af the coliateral r.ay oe sur)e: t te eqcfties or defer.ses or ciai:z:s :r. iaver ~ a ...^.ers ot rnay
or defecLi~e ir. ar.y ~w~ay; nor ~y rc~scr ef the :act :hat anp o: tte Li~~ilities r:~a} c~e tr.v~ii3 f.t ~ny reasen •A'r.atsoe~vPr; r.cr cy re3sen
fact that tie v~ie:e of any of t!:e cel:ater~i, er_.the fir.ar.c:al ccnditlor. ot tne =`ehter ec ef any ccli~cr :~n~et or qu3rar.t;r o! e: ti~P ceI-
~r~:, ~ay net havP ceer. roree:tly estt.^.:at.~~] ct may have c:anqed or ~.*.ay nezeafter ch~r.qe; noc bg te~sor. ef ar.y :ieteric:a':cn, ~~'c:s;e, o: iess
ir.eft, or etnerwise of any af the ccli~ter~i_
:e unhersi~r:ed aqr~es tc furr.ish SH~, et the helder of the aicresa:d note of tFe i'ebtor, upcr. 3er..a:.~, but net :ncre c22en t4~r. ser.:iar.nuaiiy,
os any Fart ot t: e u.a~ete3r.ess ;,r.~er suck r.cte re::oir.s usirai~, a fir.an:ial stater..e :t s~tiu::~ fcrtc, in reascnohi~ :i~2ai1, th~ ~ssets, li- i
..=c:es, an~ net .~~cr~h oi tF:e •s.ders:q~ed. ~
..,e tertr. "u.~dersiqne3" as us~d in tt;is 3~rerraen! sF~ll r.iean ti:e siyner cr sfqners cf t~is aGree:nPnt, ,:;d s•.cn slar.ers, r...,cr ?i:~:. cr.e, !
r.:! t~e jointly ar.d severaIly liai::e hereun;et. i he un3etstqr.ed lurthec aqrers that all liaF i13!y i.ere~~::ic~t s:i~ll centinuc• r.o!~x:t~st~r.dir.y t::e
~ - :r:city, lack e+ au!:^.ority, CP3f^, or disabi:ity of any or.P or rore of the unders:qr.ea, .:r.d !ha! ur.y faflcre oy _i:n or its 3ssi~ns te file oc
~ ~..~e o clair.: aq~inst tne esta.e cf any t:^.e ;in~etsi.~r.ej st:~ll r.ot cper~te to telease •~nl eti;er cf the :.r.~etslar.ed hc^: liab3ii'y :.~rreur,ser.
~ • t~ilurP ei ~n~ cther perscr. :o siyr, tt~is quat~r.ty s~a11 r.et reiease or alfect 'he leatility ef uny siqr.er her~e'..
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~ :TE.-Corporu!e quar~rters r..ust execute quarar.~y ir. corpo[ate na::.e, Cy du?y authonzcd officer, and seul must be uitixe~ c:t:s ~n.f _3t- i
tnershi urantors r.~ust execu!e Larar:t• in firm nac:P, t et'r,er with si nature of a enEr31 rtr.ar. F~orrr.all execute.i arant }
~ . • F~ p 9::~ 9' ~ 09 9 q W } } ~
_ oe delivered at the time of disburserr.ent of loon.
~ (LIST ON REVERSE SIDE COLLATERAL SECURING THE GUARANTY) ~
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`_P~ FpRM 14S ~11-6T1 EDITION OF !•07 WILL BE USEG UNTIL STOCK IS E%HAVSTED ~
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