The URL can be used to link to this page

Home My WebLink About1619 Itl ~ . • Z: i~ r~. t+r . ' ' l Upoo the uoeparweat ot t6e lodebtedness. o~ any part thereot, whea due. w6et6er b~r accefe~etiaa or o~?erwise. Nolder is empow- ered to sell. assi~qo. wd delivet the whole o~ ray p~rt of the Collateta) •t pnblic or ptivate sale. withoot demaod. advertisemmt or notice ot tLe time or pl~ce ot s~le or ot uy adjootment thereot. whic6 are 6eteby exp~easiy waived. Atte~ dedocting ell e:pensea iacideatal to or ariein6 fmw sack sale ot aales. Holde~ eay ~pply the ~eaidne of the proceeds thereot lo J~e paymeot of t6e Indeb- tedneq~ it a~all dee~ propet. ~et~aias tMe e:cess, it uy. to tl~e wdusi~ed. The oodersi~oed berebp waives all ri~t of re- deoptioa or ~p~~i~eneut xl~et~er betoro ot ~fter s~le. ~ Holder is to~~he~ eaporverod. w collect or cauae to be collected o~ othenri~e to be coavetted into owry all o~ a~y part ot the Collatenl. bp wit or ot6errrise. and W sattaade~, coepromise. ~eleaae, tenew. e:tead. e:change, or sobstitnte aar item of the Col- lateral is teaaaacuoas ~ri1L the uaeesi~ed or a~r third p~rq, irraspective ot ~ar assi~uoe~t ~er~ot bp Ihe nndetai~ed. ud ~rith- oot prior sotice w o~ coRSeat o( tke w ersi~ed o~ asy aasi~aee• Ah~erer any Ites o~ the Coil~tenl shoU oot be p~id vrkea due. or ot6en~riae ahal) be in dehalt, w4etAec or not t6e indebtedaess. o~ .or p.n ~~~t. 6~s beoo~e dae. 8older a~all 6ave t6e same ri~ts ud powers ~riti ~espect to s~ci itew ot the Collatenl as are sranted in respect 14ereol ia t5is p~ra6rap6 ia cwse v~ no~psy meat o( the Iadebtedneas. or asy patl ii~ereo(. r~6ea due. No~e ot 1~e ri~ts. temedies. privileaes. ot po~ers ot 8olde~ e:pressl~ pwvided tor 6ereiu s6a11 be e:clui~e. brt eac~ o( t6em a6a11 be caaalati~e rvit6 ~ad is edditioa to erery otker ri6ht, rmedp, privi- leae. and po~rer no~r or kere~Itar existin6 ii I~ro~ of Holder. w6etLet ~t {a~r o~ ie eqaitr, Ir~ at~Mte or otherwrise. '11~e oadersip~ed ~~ees w take aU necessarp steps to aduinieter, sopeniee. presenre, aad protect the Co1l~teral; ond re~a rdiesa of anr actiaa taken b~r Holde~. there a~al) be no d~q opos $older in this reapect. T6e enderai~ed aball par •11 e:pmeea o( aay ne- ture. whel~tr iacorred is w out o[ ooott, aad w6etder incarred belote or ette~ t6ia Note a6w11 becooe dae at its eawrity date or other wise. inclodin6 bat not limited to reasonable attornep's feea ~nd coats. w6ic6 Hatder msy deem necesaary or pwper ia connection wi~ t6e s~tis[actioa o[ t6e Indebted0esa or the adminiatntio~. aapenrision. preaet~ration, protectioo ot (includiaa. but not li¦ited to, tbe m~intea~ace of adeqa~te iasanooe) or t6e realisatioa apo~ the Collrteral. $older is an~horised to par st asy tioe aod [m~s time to tioe anr or all of snck expensea. ~dd the amoont oi sack payoeat to the amonnt o[ ~6e Indebtedneas. aad cber~ iatereat thereon at t6e rate apeci6ed 4eteis wit6 respect to the princip~l uoa~t o! this Note. 'jhe aenaritp ri~ts oi $older rad its osai~na 6ere~ader s6a11 not be imp4irea by Holder's aale.6ypotheptioo or rebypot6ecatioo ot snr aote oI the undersi~ed or rar item o( tLe Collatenl. or b~? aay indalgence, iacluding bot not lioited to (a) ooy reae~r~l, e:- tmsioa. or moditication w6ic4 $older oar ~rwt Mritb respect to the Indebtedneas or aay part thereo~. or (b) any soaender. compro- miae, releane. renewal. e:teaaion. e:e6an6e. or sabatitntiou w6ic6 Holder mey arant in reapect o( the Collatenl, or (c) say indoi- geace 6ranted ia reapect ot aer endoraer. gasroator. or aurety. '[be parchaner. asaignee, transferee, or pledgee oi thia Note, the Collateral. a~r 6oar~atp. aad aor other docnment (or any oi tLe.), sold, asai~ed, traasfured, pled~ed. or repledged. shall fortLwit6 becoae v~ated wit6 and eatitled to e:ercise aU the powera and ri~ts 6iven br tbia Note and all applications oI the nndereiped to Aolder or SBA. ae i[ said purchaser. assi~ee, trana(eree. or pled6ee rrere originally named es Payee in this Note and in said appli- calioa or applicationa. '1'6ia promiaaory note ia given w aecore a loan vrhich SBA ia makina or in whicb it is participatin6 snd. pursoant to Pan 101 of the Rolea and Regalationa of SBA l13 C.F.R. 101.1(d)). t6ia insuament is to be conatcned and (when SBA is the 8older or a parry) in interest) en(orced in accordance with applicable Fedenl law. ~ . - . . t . 1 - • • . C _ - - . . - - - " ~ - ~ ~ ' R . . . _ . . . ~ ~ - • ' . . _ . . . . . ~ . . ! ~ ~ ' : . ~ 4 _ / ~ ~ - - - - - ' - . ' - ' - _ _ ~ ~ ~ ~ _ ~ . '~S ~ ~ ' 'ty Y: i~r .~i'e ey ~ ,9~y~'F}.. _ ~ ~ ° ~ /~i~ ~ ~ I Y- ~ ~ ~ ~ Y~ .F.G - ~ ~ Note.-Corporate ~pplidmts s~at ~ec~te Note, ia corponte oa~e, b~ d~t~ aothorized otCcer, ~ad eeal oost be a(ii:edand doly ~s attested; partaerahiP applicaata ooat e:ecote Note ie Gr~ nae, waet6er rritL ai~at~re oi a 6eaeral p~rtaer. ~ SBA FONM ts7 (b-7f) j'~ ~r~~~~~ PAGE 2 w % '-.~L`- f11YC ~ ~O~^"- ~ GP 0 41:.553 - ~ - - - ' rz = ' - ~ , . _ . . ~ :