HomeMy WebLinkAbout1433 ~ ~
Upon the noup~yment ot che [ndebcedn~ss~ ur any p,rc chz~eof. when due. ~vhether by acceleratim or' utherwtsa. jlo~d~•~is
empoweted to sell, asslgrL arxi deliver the whole or any part of the Cullateral a[ puDlic or private sale. wtchout demand. actver-
eisement ot naice of the cirr~e or p4ce of sale or ot a~ry adjourn~t~e~x chereof. whkh a~e he~eby expressly waived. Afte~ deducci~
all expc~es inctdennl co or a~L4i~ trom such sale or sales, Hold~. may apply [he residue ot cheptoceedsthereot to thepayment •
ot che IndeDtedness. ss it shall deem ptoper. returnin~t tt~e excess. if any. [o the w~dersl~ned. Tt~e unde~si~ned heceby waiv~s
all r~hc of redempto~ or sppraisernenc whatl~w before ot sfter sale.
Nolder is further empowergd, to coilect or cause to be collected or othetwise to be coaverted into money a!!
or euiy part ot the Cotiateral, Sy auit or otherwise, and to aurrender, compromiae, release~ renew, extend. exchenge,
or substitute any item o[ ~he CoUataral in tre,nsectiona with the undersigned ot e+ny third part.y, Irreepective of any
aasignment thereot by the undersigned, and wilhout prior notice to or consent ot the underaig~ed or any assignee.
W~enever any item ot the Collateral shall not de paid when due~ or otherwise shall be in detat~lt, whetAer or c?ot the
indebtedness, or any part thereaf, hes become due, holder sha11 have the same rights and powera with respect to
such item of the Colleteral as ere granted in respect Mereot in this paragraph i~ ceae ot nonpayment ot the Indebted-
ness, or any part ~hercrof, when due. Noae of the rights, remedies, privileges~ or powers ot holder expresaly provided
for Aerein shall be excluaive~ but eech of them shall be cumulative with and in eddition to every ott~er right. remedy~
privilege~ and power now or heteatter existing in favor ot holder. whether aL !aw ot in equity, by statute ot otherwise.
'I~e undersigned agrees to uke a11 necessary sceps co adrniniscer. supervise. preserve, snd praecc the Collsoeeal; and ~
re~srdkss ot aa~r accion aken by Holde~. there shall be no dury upon Holder in thts respecc, 'It~e undersf~~ed shall pny alt eac-
paues of any mture. whe[her incurred in or out of cour~ and whecher tncurrod Defore oe after thia Na~e shall become due at
irs matority d~te or aher.,ise, including but not llmite~ to ressonabk attoraey's fees and cosu. which Holder may deem neoes-
satp or proper U connection rich the sacisfaction ot [he Indcbte~ess or the adrtiinisuation. supervisioc~ preservacian. protect'oa
o( (including, bnt not limited to, the mainteaance of adequste iosorance) or the realizatioo upon t6e Coliateral. Eloidet is author-
i~ed w~ay at any cime and from cime co time an;• ur atl ot such ezpatses. :~d the aRwunt of such payment to the arnau~t of tfi~.
Ir~deb~fness. and chatge interest chereun ac che rau specifted heretn with respect to the pcincipal amant of this Nooe`
The securicy righ[s ut Hold« and its assigru hereunder shall na 6e impaired by Ho1de~•. sa1e. hypothecatlop oc retrypothe• ~
caUon oi arry note of tbe ~mderslgrxd or a~r item of the Collatera2. ot dy any lndulQence~ IncludL~g but na limited w(a) any re- ~
newal. extension, ur modi(ication which Hald~r may graru with respect to the lt~debtedness or a~ry part tt~eteof. oc (D) atry
` surrender. c~xnpranise, telease. renewal. extension~ excha~te.or substitution which Hold~~rn~yQtant InrespectoE-theCollatetal.
~ ~x (c) a~y indulgence granted in respece of airy e.~xlorser. gaarantor. or suray, The purchaser. assf~nee, ttansferee, ot pledoee
? of d~is Nae. the Collater:l. arry Quarartry. and arry ahet duc~~ent (or any of rhem~ sold. assi~ned. uaaskrre~ ple~d~ed. or re-
~ P1eJaed. sl~all forchwi[h become v~esud wid~ and encided co exercise aU the powers and riahu ~ive~ by thlsNaeandaIIapplica- ~
: riu~u of [he undersigned co Holder or SBA. as if said purchaseC, assi~~ee, transferee. or pltd~ee `+ere originatly named as Payee ~
in this Note and in said application or applicaticxu. ~
~ r
~ This p[omissory note is Eiven to se~vre a loan rvfiich SBA is m~kin6 or in which it is participatin6 and, pu~suant to Put lOl of the Rufa ~
and ReEulations of SBA (13 C.F.R. 101.1(d)), this instrument is to be construed aad (whete SBA is the hotder or a puty in interestl enforced in
; aaordance with app6lcabie Federai law.
; ~
~ . i
, ~
~~ro.,y i@i1.1 JJ. :~ii: f`w).'j~t:.`E.~LA ..laj ~i.i~ ~,~'}iY~it~Il~B t?~ tiii~ dil~ , ; • ' ~
~ av~Lbox3~ed ot'i'!c~-~. ~
t
~ ~
~ _ t
~
~
;
_ .
= i
3
~ ":1 S i.
- ' . • .
= ~ .
.~QA~'it~~ ~ gii~t~ ?+pFD '!~'.11C'3~ CQ. ~ X~K~.
_ f
'i ~ ; , ; -
U j-"
- . ' .
~ y
. ~:1'
_ . ~ t . L~ x
~ i~+~. ~ i
+
- soRK~i~ ~A~~ 14~~
- N~xe.--Curpor~te applicaZts mus[ execute Note. in corpon[e name, by duly auchorizod of(icer, ard sealmust be affixed snd €
= duly atteste~ partnership applicants m?ut execute iwte 'n firm nsme. cc~gether with signatute of a~eneral parcner. f
~
- SBA FORM 147 I1-lt~ Fage ~ 6?O 90~.fS2 ~ ~
~
~~i ; : .