HomeMy WebLinkAbout1432 if
4
%e
~
iP
=s
~
~
_ Ps~rtt~ent of atry lastallment of ptlocipal or interest awi~ on thls Nae map be mscie ptior w tfie macur[t~r daoe d~ereof rtdiait
- P~~I1•
= 1bs cerm "Ind~sbc~diws" as t~sed hstein shtA mean tha fadsbt~dness avi~~ced Dy tWs Noee. 1ncLdlr~ OriociP~1. lnae'~st.
aud axpsn~sas. wha~bsr ooootl~ac. oow due oc henafar o~ became due and Mhs~t,er trraoton a cono~mporanw~l~i ha~swth
~ or hst~aforr ccnttico~d. Zfie oerm '~Coltaosrd" aa ussd ia e6ls Nooe sht11 a~saa +af f~nds. ~raati~s. or ahar propetty ot r~ts
= msrsln d aap naan vhstso~eret or tl~e peoc~eds ~Mreot wtifch aaty haw ate, or hreaPosr msS? b. hypod~ecaad. dlrectb
= cr indir~r b~? d~a mdarsl~d a c~ehers. 1n c«~ncctim rith, a as aecurfry fa. tbe Iadeb~sdn,ss oe a,~?parc dwreoE 'I1+s Col-
Ln~sa1. aad e~c,h part tt~er~o~ shall securs tbs Iod~b~edoess awd each parc cfiereo~ The oo~anancs aad oond~o~ a~c to~d~ oe
_ reisrnd a fo ury and aI1 lascr~ants ot ~rypotdcadoo oo~stt:~ d+e CalLtaral are hsreb~r iooo~porsted in Mis Nooa as oo~-
nants aod oo~dido~ of cha underal~rd xfth tbs ums fo~oe and effict as tlw~l~ such ooranants aad ooodltfons vara futl~r su
` torth hsrei~
~ T?~e Indabcedness shall immedutely becume due and payable, wictwuc najce a dernand. upon the appoiiument ot a re-
- ceiver or liquidacor. whether voluntary or invulunnry. fur the ~udersigned or for anp of ics proputy. or upon the fill~ d a
- petition by or agaiast the undersianed under the provisiuns of ury Stace icuulveacy tavr oe under the ptovisioas of ct~e Bankruptcy
Act of 1898. as amendai, or upo~ che making by the undersiar~cd of an uslQnrnent tor the ba~efit o! itscreditors. Holdu isautiwr-
iud to decltre aII ot any part of the L~dehtedness immediately dut ;rd payaD1e upon the 1~ppeaio~ ot at~? of the fdbwi~ events:
_ (1) Failure co p~r any pvrc oE c~e lndebce~rss wtxn due: (2) nonperformaace bytheundersi~edofairya~twid?.or any can-
dicion imposed by~ Hata~. or Srmil Business AdminLstradon (hereinafoer callod "SHA•')~ or either of tt~em, with r+espsct to dn jn-
_ deboe~dmess: (3) Holder•~ disCOVery of d~eut?dets[~ed's failurein any applicabon of the ~mdersi~cdwAola.r orSBA e discbse a~
faC~ dCC1110d Dy Hoider cobemateriilorof che m~king therein or in ~any of rhesaidasroemenu.or inanyafEidavit or other documents
~ submitud in coru~ecdoo r+ith said application or the indebtedness. o[ any mistepresentauan by. m behalf of, or fos t,he bmefit
_ of the undersi~ed: (4) [he reorasniution (aher ctuin a reorg~u~tutian pursuanc w a~ry of ~e provi~iaru of the Baakrup~cy Act o!
_ 1898, as amerxied) or merger or rnruolidation of the undersi~ned (or the makina of a~r aareerr~nt thereto~) withouttheorior
~ r+rrttun con~era of Nolder• (5) che undersi~ned's bilure duly to accounc. co Hoidu~. satistacttas, st such tlme oe dr?ns u Ho11.r
maY require, for any of the Colltural. or pcoceeds thereof. comi~ into the cuntrol of the undersi~c~ ur tfie fastttutlae~at
' any suic atfecting che ur?dersl~~ed deemod by Ho~a~r ta a[(ecc adveruty ics incerest herwnder in che Collaceral or od~en+isa
_ Ho~d~.•. tatlurc to eaerctsc its ri~hts ~nder this ptra~rar+h shall nc~s corutituce a waiver ttx[eof.
i SBA FOiiM i~7 ~.t-7ti REF. ND 510-1 O R 1~ y~.C~~~
- pur,y~T~..~ ~~r~.r;, *.rS A'iD SF:N ~C' ~,_'~!S :~L, ?2r:A %26E IDOK ~s~ riK,~ ~I~~
_ , ~ , A;~D 53~A ARF. CB9r?I,E~'E
_ . _