HomeMy WebLinkAbout0057 Upoa ~he aoppwymrat o( t?r lad.•b~odar.x. ur aoy p.~r~ ihr~~vi(. M1~r* ~r, t~hr~hor (h a~•.•~d~•~.~i~un •,r uih~•~Nixr. Ilold.•~ i~ .•m~ww-
ete~ ~o sell. asxi~pa. wd Jrlirr~ ~kP whulr ot a?ny ~,an ot ~hr. l:ullru~~of a~ ~wbG~• ur pri~•.?~o :+ulr, wit6uu~ Jrwaad. adv~Pti.~•arn~ ot
~otice ot ~e tiae o~ pl~ce bt sale o~ ot ~~y ~djoura~aca~ ~e~eo(. Kh(ch arc I~ereby cxprea~ly w~ived. At~er deductidg ill expeoaea
i~cidealal to ot ~tiaio6 trow sach ~ale ot s~lex. Hulde~ war apply Ihe resiJuc of ~hc proce.•Jx ~b~~eol ~o ~be parmea~ of Indeb-
~edoess. ~s~it sApll dee~ p~oper, t~tu~aia~ Ihe esccss, i! ~ejr. to ~he uudc~wiRpod. 'fhc uade~iped ArreAy waivrs all ~iRht ot ~e-
.da~plioa ot ~ppt~isemep~ whe~Aet bc[urc o~ ~fter sule. . .
Nolder is tort?e? aapoxered. to collecl o~ ca~,ce ta be collec~ed or o~henvise ~o ~k CuAYlfltd ~p10 lpOAE~r al) or ~ny ps~t of ~he
CVll~teai, by suit o~ otbetwia~e, sad to aunrnder. ~•umprumiac, rclea~~, tcacw, ea~~•ad, ~•xi•haogc; ot subx~itu~e ~ny itea of ~he (:ol•
IaIOf~I ~D lfaOr~Cllo~~ MIitI1 l~! 011drfetl ed o~ aar t6ird ~w~tr, i«espectiYe oi apY a~si~mro~ ~hr~eot by tAe ~adersi~ed, ~nd with•
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art ptior volice to ot conscat of ~6e ao eraigaed or aar oaa~p~eei lihcoeve~ aoy item ot ~hr Collateral .hali aot be paid Mhee dqe;
or ot~ecwise sl~11 ~e i~ delawi~, whethet or ooi 16~ iodebtedae+ss, or uar p+rr~ thr«o(. bos b~•camr Jue. Nolder ~hall bave the 8ame
. • ri6hts aad powets with cespect to xuch itcm a( Ihe Collatrral ~x a~r Rr~atod ip rerprcl ~he«~u( is ~hix patuRroph ia eaxe ot aonp.?y-
~es1 ot ~Le I~debtedsess. or na~r parl ~kr~eot. whr.n Jue. Nune oi thr ~i6h~w. n•acdi~•a. privilrgra, or pow~tx oi ~laldtlr ~xp~eaxFy ~
pro~Lled tor 6e~eia ~~II 4e ea~~luxive. Lut cACb of thrm ss6x1) be cumula~irc• wi~h uaJ iu uJJi~iua ~o evory otbet ri~t. temeJ~~ privi-
lese~ a~d poNet aowor Aere~(tet eYictiag in furo~ o( tloldc~. wMciber ~t lew or iu eyuitr. !r~ stetute o~ othrrwisr. ' '
The wde~ai6pea a6ree~ to ~~ke all oece~aary s~eps to adaiiais~ar, soperriae. prraerve~ aad pro~ect t6e Goll~tepl; aad re6ardless ~
ot..r ~ctioa~t~kea b~r bolder. there ahsl) be ae dutp epoo Bolder in ~hia tcspec~. .Tbc undetsigaed aball pay all eapeases o( aoy u~• '
tnre, ~r1?etret iacu~red j~ or oot ot coun, aad whe~her iacarred 6e[orc or atter t4is Note sshsll becaae due ~t 'rts ~aawrity date or other- -
wieq ilcludia6 bnt oot liiuited to tcasopable auom~r's (ees a~d cosis, w6ich Nolder may deew necessary o~ propet ia coeaectioa
rrith tl~e e~tistactiw oI t6e Iodeb~cdacss ot the adwieistratioa, snpe~risioa, presetva~ioa, protec~ioo ot (includ'uta. Eut not lia~fted to,
tl~e maintear~ce ol ~Jeqnate iaanraace) o? tbe tealisatior upw Ihe Collateral. Holde~ ie aulhotised to pay at aoy time and (row tia~e
to tise anr o~ ~1) of Bec` axpeoses. add ~6e amouat ot srch payma?t ~o the amouRt o( cbe Indeb~edoeas, aad chetse iote~est therco~
at 1ke rate specitied 6ereia with ?eapec~ to the principal ~moaat o( tbie Wpte. , _
'~fie aet~ritp ri~Ats of Holder and its assi~o,s he~eundet sA+~l{ aot be impai~cd by llolder s sale.sypot6ecation or rehypothccatioa
ot any noeq ot i6e nadersi~ed o~ aar itea ot ~he Collatersl. ot by aay iodalgence. iacloding but not limited to (a) aoy re~ewal. ez-
teaaion. ot modi~icatioo rraicb !(older aay grant r+ith reapect to tde ladebtedness or aar part t6ereot. or (b) ~oy au~reader. caopro-~ -
•ise, releaae. resewAl. exteasioa. eicbon6e, or subatitutioa wl~ic6 Nolde~ may ~rant io tespecl of 1he Collateral, or (c) ~ny indnl-
~ce araated in tespect ot a~y eadorser, euerantor. or snrety. TAe purchaaer. assigase. ~raesteree. or pledgee ot thix Note. thc ~
- Collatecal. s.y ~a~~h. aad eny otbe~ document (or asy ot ~hem). sold. a~si~gd, uuna(er~eil. pledged, ar repledged, shall torthwit6
become ~es~ed witb aad eatitled to exercise al) the powcrx aod ri~ts gireo 6y this Note aad all applicatioaw of the undersigned to
Holder or SBA, es il said putch~scr, assignec. traaste~ee. or pledEce ~.~~re otigioally oa~ned •rs paye~ ia this tio~r and is seid rppli- •
cation or applica~ioas. • -
'I'1~is ptowissory nole is ~ivrn to secure a loup hhich SF3~ is mak.iag or in hhich it i. p.~r~icipating und, petsuant to Part 101 0( ~
the Rules and Re~ulations of SEiA (13 C.F.R. 101.1(dl)~ 1I11S Ip~lrylAt•nt is to tM con~~med 'JU(I ~lYI1P0 SBA is ihe Holder or a partY)
ie iaterest) eolorced ia accordaace wiih upplicvblc E'edcral law. ' •
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` /s/ John M. Leniston
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E /s/ Lucie A. Leniston
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~ NoterCotporate applicants mos~ c~c~cute Aio~e, in corpora~e rtaroe, by duly authorizcd o(ficer, aad sral mu~c~ b~ affixedand duly
€ atle~ted; pattaersbip applican~s must rxecu~e No~e io firm oame~ ~o~ether wi~h signature o( a gcneta) parln~r.
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