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Home My WebLink About0640 -SBA IOAN NUMBE 1 . s NOTE ~ ! (City and State) = u~~0~~ (Uatel . 19 ~ For value rec•eived, the undersi~cd ptomise~ to puy to the otdot o( oA~~ ~ ~ P:l~' P!~ ~ at its o((ice in t6e city oI ~ , S~ate of ~~=r~ or at holder's option, at _wch oth~r place as may br desi~ated (rom time to time by the holdet ~ ~ ~~"~~~M ~r"«.~M~~~~""`~ dollars. ~ (R`ritc out amount) • ~ S ~ with iaterest on unpaid principal compuled (rum the date o( each adva~ce to the undersi~ed at the rate of S~~ percent per annum, paymeat to Le made in installmeots as (ollovcs: ~ t Installments, including principal and int~rest, each in ' ~ the amount of $ 2~3.00 ~ payable monthly, beginning ` ! months from datz, each said installment to be first applied to interest accrued to the date of receipt of said installment, and the balance, if any, to ~ principal, and the balance of principal and interest pay- ' able on or before !i~ ( S) years fran date. i i ~ ~ ~ ~ ~ ~ ~ ~ ~ I ~ ~ Payment of any ins~allmeat ot principal or interest owing on this tiote may be made prior to the maturity date thereo( without s penalty. ~ The term "Indebtedness" as used herein shall meaa the indebtedness evidenced by t6is Note, includiog principal. interest, ~ aad expenses, whether contingent, now due or hereaher to become due and whether heretolorc or contemporaneously 6erawitb or ~ herea(ter contracted. The term "Collateral" as nsed ia this Note shall mean any fuads, guaraoties, or ot6er property or rights ~ therein o( aay nature whatsoever or ~heproceeds thereot wbich may h~ve beeo, are~ or hereaiter mey be. bypothecated, directly or ~ indirectly by the uadersiBued or others, in connection with, or as security for. the Indebtedness oraay part t6ereoL 'Ibe Collater- ~ ~ al, and each part theteof, shall secure ~he ladebtedness and eac6 part thereof. 'Ibe covenants and conditions set forth or re(erred r g to ia aay and al) iostrumeots of hypo~hecation constituting the Collateral are heteby incorporated ie this Note as covenants and ? ~ cooditioas of the undersi~ed with 1he same (orce and e((ect as thou~ such covenants aad conditions were (utly set (or~6 6erein. ~ ~ i (4~e Indebtedness s~all immediately become due and payable, without aotice or demaod, opon the appointment of a receiver or ; liquidator, whether volnntary or involantary, (or the undersi~ed or for any o( its ptoperty, or upon the (iling o( a petition by or ~ ~ against ~he uodersig~ed under ~he provisions ot any State insolveo~y law or under the provisions o( the Benkruptcy Act o( 1898. ~ ~ as ameeded, or upoa the making by the uodersi~ned o( an assi~meot (or the bene(it ot its creditors_ Holder is anthorized to de- ~ ' clare all or aay part o( the Iedebtedness immediately due aod payable upon the Aappeqing o( any o( the (ollowiug events: ~ = (l) Pailure to pay aay part o( the lodeble~ess when due; (2) nonper(ortnance by the undersig~ed of any agreement with. or any con- € ditioe imposed by, Holder or $mall Business Administration (hereioafter called "SBA"). ot either o( them, widt respect to tLe In- ' ~ dedtedeess: (31 Holdei s discoven of the uadetsigned's failure in any application o( the undersi~ed to Holder or SBA to disclose aay (act deemed by Holder to be material or o( the makiog therein or in any o( the said agreements, or in any a((idavit or other doc- aneats s~bmitted in coanection with said application or the indeAtedness, o( any misrepresentation by, on behelf o(, ar tor ~he bene- ' (it of ~he uodersi ed: (4) the reorganization (other thao a reorgaoizatiou pursaant to aoy of the provisioos ot Ihe Bankruptcy Act o( ' 1898, as amende~ or merger or consolidation o( the uodersi~ed (or the makiug o( aay agreereent there(or) withoot the prior written s = coaseot ofHolder: (S) the uodersi~ped's tailure duly to accoaot, to Holder's satis(action, at such time or times as Holder may re- ' ,uire, lor aoy of ~he Collateral, or proceeds tbereo(, cotRirtg ioto the control o( the undersi~e~; or (61 the institution o( any suit ; e af(ecting ~ht uedersi~ned deemed by Holder to af(ect adversely its iaterest hereunder in the Collateral orotherwise. Holdei s fail- urc to exercise its rig~ts uader this pwragraph shall notcons~itute a waiver thereoL _ ~ ~ 254 F~~E 640 ~ ~ ` SBA FORM 1i~ IS-71) REF~ NO 510-1 PqEV~0U5 EDITIONS ANO SBA FORMS 15~_ 326A, 530 AND 530A ARE OBSOLETE ~ ~ E s ~ ~ ~y : _ - ~ c,',a ~ _ ~ :s_ y . .