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Home My WebLink About1557 SBA LOwN NUMBER NOTE tc~h ~a s~ece~ ~ _ ~~~0.~ (Dete) ~C.-T~ ~i~ , 19 ` ~ For valne ~eceived, the undersi~ed promisea to pay to t6e order o( ~.L I~Z~t ~d 1 lPeyee) at its ot[ice in the city o(, a~M= , State oi or at holder's optioa. at sach other place as may be desi~ated trom time to time by the holder 'l~' ~1ID ~IID ~iQ~~ dollara. ! - (Write oat amonnt) with inte~est on unpaid principal compnted iwm the date o( eac6 advance to the undersiBoed at the rate o( 6 3/4 percent ~ ~ per annnm, payment to be made in installments as tollows: ~ ~ 3 f ?astallments, including pr~n~cipal and inte~est, each in ~ the amount of $ ~OS.00 , payable moathly, beginning months from date, each said installment to be first applied to interest accrued to the date of receipt of said installment, and the balance, if any, to r principal, and the balance of principal and interest pay- able on or before !ih ( S) years from date. ~ i i E ~ ~ i ~ e ~ ~ ~ Payment of any installment of principal or intereet owing on this Note may be made prior to the matnrity date thercof without ~ peaalty. ~ 'Ibe term "Indebtedness" as ased 6erein ahall mean the iadebtednesa evidenced by this Note, inclading priacipal, interest, ~ and expenses, whether contingent. norv dae or 6ereafter to become due and whether heretoiore or contemporaaeonslr herewith or ~ hereafter contracted. 'Ibe term "Coliateral" as ased in this Note s6a11 mean any funds, gueranties. or ot6er properry or rights therein o[ any nawrc whatsoevet or the pmceeds thereof which may 6ave been, are~ or 6erea(ter may be. 6ypot6ecated, directly or indirectly by the undersi~ed or othera, in connection with. or as secarity (or. the lndebtedness orany pert thereo(. 'Ihe Collater- al, and each part thereot, shall secnre t6e [ndebtedeess and eac6 part tLereof. 'Ibe covenants and conditions set fon6 or referred to in any and all instcameata o[ hypothecation constitnting t6e Collateral are hereby incorporated in tLis Note aa coveeanta end - conditions of the undersiped with the aeme lorce and ef[ect as thou~ sach covenants and conditions were fally set forth herein. ~ 'Ihe indebtedaess shel! immediately become dae and payable. ait6ont notice or demaad, npon t6e appointment ot e receiver or ~ liqoidator, w6et6er voluntary or involnntary, tor the undersiped or fot any o[ its property. or npon the filing oI a petition by or ~ agaiast the andersi~ed under the provisions o( any Stete inaolvency law or nnder the provisioas of the Boak~uptry Act of 1898. as amended. or npon the makiag by the andersi~ed of an assig~ment for the benefit of its cYediwra. 8older ia antLorized to de- ~ clare all or any pan of the lndebtedness immedietely dae sud payable apon the happening of aay of the following events: (11 Failure to pay any part of ihe Indebte~esa when dae; (2) nonper[ormance by ~he onderai~ed oi any agreement wit6. or any con- ~ dition imposed by, Holder or Small Busineas Administration lhereinaiter called "SBA"~. or eit6er of them. vrith respect to the In- . ~ debtedness; (3) Holder's discovery oi the ondersi~ed's tailure in eny applicatioe of the andersi~ed to Holder or SBA to diacloae ~ any iact deemed by Holder to b4 material or o[ the making therein or io any oi the said agreements, or in any ai[idavit or ot6er doc- f ~ amentssnbmitted in connection with said application or tLe indebtedneas, of any misrepresentetion by, on be6al~ of. or tor the bene- i (it of the undersi ed; (4) the reorganization (other tLan • reorganization parsnaut to aay o( the provisiona of t6e Bankruptcp Act of ~ 1898, as amende~ or merger or consolidation o[ tLe undersi~ed (or the making oi any agreement therefor) without the pnor writtm ~ ~ consent of Holdec; (5) the undersi~ed's (silore dalr to acconnt. to Holder's satisEectiou, at sach time or times aa Holder may re- ~ ~ quire, [or any of the Collateral. or proceeds thereot. coming into the control oI the ondersi~ed; or (6) the institntion oi any Buit afiecting the ondersi~ed deemed by Holder to ettect edveraely ita interest 6ereunder in the Collateral orotherwise. Holder's [ail- nre to e:ercise its rig~ta under this paragraph ahall notconstitate a waiver t6ereo(. ~ - SBA FORM 1~7 IB-71) REF: ND b10-1 PREVIOUS EOITIONS ANO SBA FORMS 154, 326A, S30 AND 590A ARE OBSOLETE BooK238 PA~E1555 . , _ ~ ~ : ~ , ; - - - _ _ ~ ~ ~ - ,