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Home My WebLink About2355 . ' • • , ' ir• ~ • ~il ~ • SBA LOAN NUMBER GP-680. 152-10-07-MIA NOTE FORT PIERC E. FLORIDA lCiry and State) = 40, Onn nn lDste) January 1 . 19 ?4 For value received. t6e undersi~cd p~omises to pay to the order ot SUN BANK OF ST. LUCIE COUNTY (Payee) at its office ia ihe city ot Fort Pieree , State ot Florida or et holder'~ option. at such o~her plece as may be desig~ated from time to tirne by the holder FORTY THOUSAND AND NO/ 100--------------------------- doile~, {Write oot amonnt) with interest on oopeid principal computed from the date o( each advance to the undersi~ed at t6e rate o( 8~ percent per annum, payment to be made in installments as follows: Iast~llr.ients, including ~rinci~al a:~d interest, eac~ in E tne a:.iount o~ Y_ 500. 00 ~_~a; sble ztonthly, beginning tWO (L ) ~oaths jroau date, - each said inst~llr~ent to be :irst ap~lied to interest i - accrued to the d~te of recei~t of said installr~ent, ~ and the br.lance, i: ~.iy, to ~rinci~al~ and the ~ j balance ~f princi_~~1 and i:~terest ;~ayEble on or before Ten w_~ r~~) ye~rs froe~ date. ~ ~ Payment of any installment of principal or interest owing oo this Note may be made prior to the mntariry date thereo[ withont penalty. Tfie term "Indebtedness" as used herein shall mean the indebtedness evidenced by ihis Note, including principal, interest, and e:penses, w6ether contingent, now dne or hereafter to become dae and w6et6er heretofore or contemporaneously berewith or herea[ter contracted. The term "Collateral" as used in this Note shall mean any funds, guaranties, or other property or rig6ts therein o( aay nature whatsoever or theproceeds thereof which may have been, are, or herea(ter may be. hypot6ecated, directly or ~ indirectly by the uadersi~ed or others, in connection with. or as secarity (or, the Indebtedness orany part thereoL 'Ibe Collater- al, and eac6 part thereof, shall secure the Indebtedness aod each part thereof. '[lee covenants and conditions set forih or tefened ~ to in any and all iostruments o[ hypothecation constitoting the Collaterat are 6erehy incorporated in this Note as covenants and conditions of the andersig~ued with the same (orce and e[(ect as thoog~ snch covenants end conditions were fnlly aet (orth 6erein. rs ~ 'Ihe Indebtedness s6a11 immediately become due and payable, without notice or demand, upon the appointment o( a rec~Y.er~ - liqaidator, whether voluntary or involuntary, (or the undersigped or (or any ot its property, or npon the filing ot a petition by or ~z against the undersi~ed under the provisions oi any State insolveecy law or under the provisions ot the Bankmpt .ry Act ot 1898. as amended, or upon the making by the undersi~ed of an assigpment for the bene(it of its c~editors. Holder is authorized to de- clare all or any part o( the ladebtedness immediately due and peyable upon the happeaing of any o( the (ollowing events: (1) F'ailure to pay any part o( t6e Indebtednessw6en due; (2) nonperformance by the undersi~ed of any agreement with, or any cou- dition imposed by. Holder or Small Bnsiness Administration (hereinafter called "SBA"). or eit6er of them. with respect to the In- ~ debtedness; (3) Nolder's discovery of the undersi~ed's failare in aay applica~ion of the undersi~ed to Holder or SBA to diaclose any (act deemed by Holder to be material or of t6e making therein or io any oi t6e said agreements, or in any aEtidavit or other doc- umentssubmitted in connection wit6 said application or :he indebtedness, o( any misrepresentation by, on behalf of, or tor tl?e bene- tit o( the undersi ed; (4) the reorganization (other than a reorganiaation pnrsaant to eny ot the provisioos ot the Bankruptcy Act o( = 1898, as amende~ or merger or consolidation o( the undersi~ed (or the making of anr agreement there(or) without the prior written consent o(Hotder, (5) the undersi~ed's (ailure duly to account, to Holder's satisfaction, at sach time or times as Holder may re- quire, (or any of the Collateral, or proceeds thereof, coming into the control of the undersi~ed: or (6) the institntion of any suit ~ -'a at(ecting the undersipped deemed by Holder to a((ect adversely its interest hereunder ia the Colleteral orotl~erwise. Holder's fail- ure to ezercise its ri~uuts under this parap{ap6 shall not constiwte a waiver thereo(. ~::e r~~ {;y£ SBA FORM 147 18-711 REF: ND 510-1 PREVIOUS EOITIONS AND SBA FORMS 154, 326A, 530 AND 530A ARE OBSOLETE '-a - 222 ~~~355