HomeMy WebLinkAbout1388 SBA LOAN NUMBER
L-1!E•lil 862•10-07•MLA
NOTE -
I/ 1IA~s f'<O~t ~ r~A
(City and Statc)
= i~~~O•~Q lDate) ~Lt s!?S ~ , 19_ 7L.
For value received, the uadersipped promises to pay to t6e ordet o~ _~C~1. A~ 'j'B~1S'Y' (.`~~A~
lPeyee)
at its ol(ice io the city o( . State o( f10=il~
or at holder's option, at such other placc as may be desi~ated from time to time by the holder _ ~~'~ZA'~
?HOiISA~ID AND MOl10~••••~•••-..~.~~~~•~~~~~«~~~~•..~•~~~~-•~~.. •~••N~~•+•~N~ dollars.
(Write out amount)
with intereat on unpaid principal computed (mm t6e date ot each advance to ~he uadersi~ed at the rate o( 8 perceut
per annum. payment to be made in instaUments as (ollows: _
InatalL~ents, iuct~dio~ prf~ipal a~d int~rest, aae~ ia th+Q aiwuat of
S2,OZ7.00, P~psbls aootbl~. b~giae~i~i vo~ ~1) aa~th fraa dat~, ~ach said
i~tallsfat to be lirst appli~d to intare,ai aee~rued to tb~ data of r~ceipt
of said instalL~aat, aad th~ balanc~. it a~ryr, to principsl. a~d tbs balaace
ot priaeipsl an~d i~tar~st payabi~ oa or b~for~ s~v~u (7) resss tsna dat~•
Paymeat o( any installment o( principa! or interest owing on this Note may be made prior to the maturity dete thereot witLout
peoalty.
Tfie term "Indebtedness" as nsed herein s6a11 mean the indebtedness evidenced by this ;Vote. incloding principal, interest.
aad e=penses, w6ether contingent, now dne or 6ereatter to become doe and whether heretofore or coa?emporaneonsly 6erewith or
hereatter contracted. 'Il~e term "Collateralr as nsed in this Note shall mean any fnnds, goaranties, or other property or rig~ts
therein o( any oatare whatsoever or theproceeds t6ereo( whic6 may 6ave beea, are. or hereattet may be, 6ypothecated, directly or
indirectly by the aadersi~ed or o~hers, in conoection with, or as secarity (or, the ~ndebtedness orany part thereo(. 'Ibe Collater-
, al, aad eac6 part thereo(. shall secore the Indebtedness and each part thereof. The covenants aud conditions set (ort6 or referzed
to in any and all inst~uments of hypothecation coostitating the Collaterel ere hereby incorporated in this ;+lote as covenants and
conditioas o! the nndersi~ed with the same force and e((ect as thougfi soch covenants and eoaditions were fnlly set forth 6erein.
'(t~e ~ndebtedness s6a11 immedistelr become dne and payable, withoat notice or demand, upoa tbe appoinunent of a receiver or
liquidator, w6ether voluntary or iuvoiuatary, (or the nadersi~ed oF for any oi its property, or upon the tiling ot a petition by or
against t:~e ondersi~ued under the provisions o( any State insolvency law or ander tLe provisioos o( the Bankroptcy Act of 1898,
es amended,or apoo the making 6y the undersigned ot an assignment for the benefit of its creditors. (~older is aothorized to de-
clare ail or aay pan of the ladebtedness immed'eaeely doe aad payable opon tbe happening o( any o( the (ollowing events:
(1) Failnre so pay anr part o( the indebtedness rvhen dae; (2) nonpertormance by the oaderai~ed af any agreement r+ith, or any con-
dition imposed 6y, Holder or Small Business Administration (hereina(ter called "SBA"), or eit6er o( them, with respect to t6e 1n-
debtedness; (31 Hoider's discovery of the undersi~ed's failare ea any application o( t6e nndersi~?ed to Holder or SBA to disclose
any (act deemed 6y Holder to be material or oi t6e makiog therein or in any ot the said agreements. or in any et(idavit or other doc-
amentssabmitted in connectioo wit6 said application or the indebtedness, ot any misrepresentation Iry. on bebal( of, or for t6e beoe-
(it oi the ondersi ed; (4) the reorganization (ot6er than a reorganization parsuant to anr ot the proviaions ot the Bankruptcy qct ot
1898, as amende~ or merger or consolidatioo o( the andersi~ed (or Ihe making of any agreement therc(ot) witLoot the priot written
coasent o(Holder: (51 tbe andersi~qued's (ailnre doly to account. to Holder's satis(action. at snc6 time or times as Holder may re-
qoire, (or aoy o( t6e Collateral, or proceeds thereof, coming into the control o( t6e andersi~red; or (6) the institntion o! any snit
a(fecting t6e andersigned deemed by Holder to affect adversely its interest hereonder in the Collatcral orot6crwise. Holder's (sil-
ore to e:ercise its ri~ts onder t6is paragraph sha11 ootconstitute a r~raiver ~hereof.
SBA FORfA 147 19-711 REF: ND 510-1 PiiEVI0U5 EDITIONS ANO SBA FORMS 154, 326A, 530 AND 530A ARE OBSOLETE
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