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Upoa d~e nonpaymeut ot the tadebtedneas. or sar pait tbenwt, wbea dae, w6ethe~ bp acceler~tiou oc otl~ennise. Holder i~ ~pow- ~
ered to aell, assIg~p. ~ud deliver d?e whole or soy pan ot the Collaterel ~t public o~ p~ivate sele. wtlboat dew~,ad. advettise4ent ot _
notice of the time or plece ot s~le o~ ot sny edjonmment tLeteof. rrhtcb are hereb~r e:presaly rrsired. /~(tet dedaotiad all~ e:peases
;ncideatal to or arining hom ~ach sale o~ aelea. Holdet aoay spply tbo reaidae ot the proceeda theceo[ to the paymeat o[ ~he Iadab-
t~dneas, ae It shal) deem proper. retnrnins the a:cass, it ~ny, to the uadersi~oed. '[he nnderoigned hcrebp rr~ives sit rl~t of re- ~
dempiion or ~ppniae~eut rvbetLer be[ore or e[ter sale. .
' . _ . R~t . ' ' .
Holder ie [nrelier aaporvered. to, coliect or c~nse to be collected or ot6etwiae to be cosvened into moaq all.o~ aay put oE.tde
Collatenl, bp snit u~ ot6erwiae. and to snnende~, compranise. release. renew. e:tead. exchsu6e. or snbstitnte aqr ites oE the' Col•
laterel ia tnasictione with~ the onderei~ted or snr t6ird pany. ircespective oE any asai~m ent theroot bp the and~si~pned; aad wit6• ~
ont p~ior uotice to of ooseent of the onderai~oed or aay essigoee. w6eaeve~ any item of the Coll~tenl abell not be pad Nhen-dne. • j
or otherwiee sh~U be io d`etault. ~rhether ot not the indebtedneae. or ~nr p~rt theceot, kos becom~e dae. Holder e6~11 have ehe s~me
righta aud powets Mit6 respect to sucL itas ot the Collatenl as ~t~e ~ented in respeet ~ltereof ia ~6is pataanph ia cese of Ronpap-
mcnt of the [ndebtedness. or an~r part ehereoi. w6en dae. None of the righte, remedica. pridle6ea, or porrers oE Holdef enp~essly '
provided Ior ~erein ghall be e:clusive, bat eac~ o[ them ahsll be cumnlui~e with and ia addition to eveey othes ~i~h~ remedp, prtvi-
lege, and porrei aowor heteette~ extatina in taror oE 8olde~, r+hether at taw or ia eqait~r, try statnte.or otLenrlae. , •
_ . _ .
The nadcreigp e~ igrees to take all necnssary atepa to a~oiaiater, sapervise. preserve. and protect the Collatetal; and re rdless ;
of any actiat taEea 6y Holder. tl~ere aholl be ao doq upon Holde~ in this ceapect. The aaderaigned eball par all ~expeases o~i~y na-
cnre. whctLer iacocred ia or oa~ ot conrt, aed whether incarred before ot ptter tbis Note eh~ll become due at its matodtp d~te o~ othet+
wisc. iaeMdia6 but aot lisited to resaoo~ble attorney'a tees and coats. vnhic6 $olde~ may deea necessary or pmper ia t~nnectioa
wiih the satisfaction oE the Indebtedncss or ehe adminiatretion. aupervisio~, preservatioa, pmtectton oi (incladiaa, bat dot limited to,
the msintmance oI adeq~ate inaurance) or ~he reati:ation opon tht Collateral. $older is anthorised to pay at eny tiiae ~nd itom tise -
to time an~ or R11 of lfac6 e:peases. sdd the amoant ot anch payanent to the amoant oi the Iadebtedneaa, ~ed c~ar6e interest the~ton ~
at the nee apecifted 6erein wit~ respect tp the principal amoant oi this Note.
. , . . .
17~e accudty dg~ta of 8olde~ and ita assigna Lereonder ahall aot be iopaircd try 8olde~'a aale.hypothecati~or rehjrpothecatioa
of any note of the undetaigped or en~ item of the Collaterel, or !ry any indol6ence. [nclndina but not li~eited to (a) aty raaewal. F
censioa. or modification rrhich Holder may ~ant rrith reapect to the [ndebtedneas or auy psrt thereo[. or (b) aay ssrrmder. coa~pro-
mise. release. rmew~t, exteasion. e~ccheuge. or sabstitntion w6ich Holder may grant in respect ot the Collateral, or (c) any Indul- ~ •
genct areated ia reapect of any endorser, guarsntot. or anrety. 'I1~e parchaeer. assignee, transteree, os pledgee of t6ia Note, the ~ . :
Collateral. a~ 6uarontp, and any otl~er docnment (or any o[ th~), aold. asaigaed. trens[erred, pledged, o~ repledged. shall tottArvith
become vested ~rith md entitled to exercise all the powrers and ri~ts girsu bp this Note and all applieations oE the andersi~pned w
tiolder or SBA, aa if aaid pnrc6aser, assianee, transferee, or pledgee ~rere originally nemed as Payee ia thia l~Iote and 'u said appii-
cation ot applicationa. ~
'Il~is promisaory note is gfvtn w secore ~ loan which SBA is making or in ~rhich it ia perticipating and. parsaant w Pact 101 of
the Rnles and $eaalatio~s oE SBA (13 C.F.R. 101.1(d)), this igstn~ment is w be constmed and (when SBA is t6e Holde~ or a partJr) ~
in intuest) ea[orced in acco~dance with applicable Federal Ierr.
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Note.-Corporate ~pplicants mnst ezecate Note, i~ a~otporaee aame, br dolr aotLorised ofRcer, and eeel moet, be ~t[ised snd d~1q
attested; partnersbip ~pplicants aast execote Note ia fi~a n~oe, togetha ~rit6 sigpatare oi a 6ener~l parmer.
~/l FORM 1i7 18-711 PAGE 2
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