HomeMy WebLinkAbout0641 - ,
. - s
lip~i~ thi• nonp:+ymrat o( the Ind~~hiodnr.., ~~r .~ny p:u~ th~•n~o(. ..ht•n dur. Hhe~ih~•r h} a~~~•~~Irration or o~h~rri.~•. N~,IJ~•r i~ rn~p~~N- ~
e~~~d to sPll, a.siKn, und J~•liver ~h~ ~'holr or any patt o( th~ (:oll~u•rr.' a~ EwWli~• u~ prival~ xale, t,~~houi ~mand. :+d~i•rti.~~m~•nt or ;
notice o( the tim~ or pluce ot +ale or o( any adjournm~nt th~~reol, Nhi~h :+re hetehy rxpreesly wai~ed. A(tet deduclinK all rxpFa.~•4
iacideatal to ot arisinR (rom .ui•h sa1P ot +alrs, ~~ulJcr may apply th~ t~siJui• o( thr procr~•d. ~hrn~o( to ~hc puym~~n~ ol th~• Ind~•b-
teJne.s, as it ~hull d~•rm prop~r, rewrninR ~he rxcrss, i! s~ny, to the und~rxiRneJ. 'IY?e unJ~r~itimed hrre•Ii)' N01\'C~ al) ri~t o( r~-
demp~ioa or appraisrmcat whP~her b~~(ore or BIIPt S:~IC.
,
Holder i~ furlher empowere~, ro collecl or cau~e to be collected o~ otherwise to be ~•~nve~ted into mooey all ot any pert o( the
Collateral, by suit or otherwis~,'and to ~urrenJer, cumpromise, release, reaew•. rxtead, ~zrhange, or +ubstitute aay item ot the (:ol-
lateral ia transacteoos with the uader~i~n cd or aay thi~d pa?ty. irrespective of aay assiKnment thereof by tht uadersiRqed~ and wilh- ~
out prior ootice to or coasent o( ~be undetsiRned or aay asaipiee. N'iheaever any item of ~he Collateral shall not be paid wheo due. ~
or otherwise shall be io de(auli. whether or no~ ~he iudeb~edaess. or any part therco(. has become due, Holder ahall have the same
rights aad pow~ers with respect to such itMn o( ~he (:ollate~al as are g~aatrd in respect ~bereo( in this paregraph io case o( aonpay-
ment o( the Indebtedaess, or aay part thereot. ~•hea due. None ot the righta, rrmedics, privileRes, or powers ot Holder expressly
provided (ot hereio shall br exclusi~e. bu1 each o( them shall be cumula~ive with and in aJditioo to every other right. remedy. privi-
lege. and power noN on c~rea(tc? e:istiag ia favor ot Holder. whether at law or in equity, by statute or otherwise.
Tl~e uadersipn ed egreec to take al) aecessary steps to a~mini:tcr. supervise, p~eserve. and protect the Collateral; and regardless
o( any actioa iakeo by Nolder, there shall be no duty upon Notder io this respect. The undersiKned shall pay all expensea o( aay oa- _
tare. ~•hether incurred io or out ot court, aad whether iacurred before or atter this l~ote ~I?all become due at itc ma~urity ~ate or other- ~
..ise. iocluding but not limited to reasonable atto~ey's teec and costs, w•hich Holder may drem necessary or proper ia cona~etion
Mith the satistactioa of the Iadebtedaess or the administration, supervision, preservatioo, protection of (includiag, but aot limited lo,
the maintenaace ot aJequate insurauce) or ~he realization upon the Collateral. Holder is authorized. to pay at aqy time and ~rom lim~
to ~ime aay o~ all o( snch expeoses, add the amouni ot such payment to the amount o( lhe Indebtedness, and charge interest thereoo
at the rate specified hereio Mith respect to the principal amoual ot thi+ Notc.
The security righta o( 1lolder and its atisi~ns hereunder shall not be impaired by ~1old~r's sale,hypoth~catioa ot rehypothecation
o( any note ot the undersi~ed or aoy item ot ~he Collateral. or by aay indulgence. includiog bnt aot limited to (a) anp ~eeeNal. ex-
teasion, or modification which Ilolder may grant with respect to the Indebtedness or any part thereof. or (b) any surreader.•compro•
mise. release, renewal, extension, exchenge. or substitution which Ilolder may Rraat io retipect o( ~h~ Collateral, or (c) aoy`indul-
gence gaated in respcct oi any endorser, guarantor, or surety. The purchase~. assiRoeP, transleree, or pl~dgee o( this \ote, the
Collatetal, aoy guaraaty. and an}• other document (or any of them), sold, assiRoed, trans(rrred, plcdRed. or repledged, shall lotthwith
become vested r•ith and entitled to eaercise all the po~er~ and riphts Riven by this tiote end al) applicationc of the undetsigned to
Holder or SI3A, as i( said purchaser, assignce, transfer~c, or pledg~c werP originalh• named as PayPr in thi~ ~ote and ia said appli-
cation or applicatioov.
Tfiis promissor~~ note is Riven to secure a loan ~.hich SB.~ is makinR or in e~hich it is participalinR and, pursuant to Part 101 0(
the Rulrs and H~qulations o( SBa 113 (:.f.R. IOl.lld?). this instrumrnt i+ to I~C COps(fUP(~ and (~.hen C~q is thP Holder or a part~•) j
in interest) eoforecd in accordance with applicable F'eJeral law. -
IN wx'AiS68 1B8RIl~. Ms l~av~s hez~w~?t.o aot our han,da anci seals ths ~3ap aa~d y~as first
abow ~ncitt~a.
.w •
1j
t
. ~
~
j ;
t
' ~
I` ~
i F
; -
~ . i
~ !
~ - -
F
~
~ :iJ _ E
i
~ '
~ ~
~ ~
C i
~ ~
i ~
9
1
. JQhn K• al~d Mary L• Bs+o~vn / d,/b/!~ ~1~fIN ~ 8
. ~F'i~.r~.~' ' :1~Y.~3 i'~J
w ~ s ~il~~TaL~1M1:b i
. ~
. , ~ , G17~
~ .
~ , ; • • , .
i • ~~/ij~Gf~~C-(1 . C ~ _ (.C!i. 8 8
. . ' ~
f ' _ !K PUg(IC ~TATf ~l~ =1t1vI~A 4T I A~~
` " ~ +~~M~SSIOH ~X~tRFS fEe. 21, 19n ~
~ ~{3Z"Y Hl"ONl1
• ' ~l~ ~NE?Al ItvSURANCE UNDERWRITERs
~ • ; - ~ . - ' ? ~ A~
~ ~ , ~ i;:i ~~4 FACE 6~.1 ;
~ ' T
~
\ote.-f;orporate applicants must ~i~eutr \ot~, in corporate nam~, b~~ dul}~ au~horiz~d o((icrr, and seal must b~ a((ix~dand duty
~ atte~t~d; partnership applicants must ~x~out~ ~otP in firm name, toF~thE~r t.ith sipiature o( a Reneral partnPr.
4
{ .
~ SBA ~ORM 147 18-711 PAGE 2 ~
~ ~USGOVERNMENTPRIhTiNGOFfiCt '1~.yc: a_.;_• ~
~
~ ry ;N `w a
~.s~"?~^'~•.~ F. _ ~ , . ~"~._a