HomeMy WebLinkAbout0238 Co'Y
U~ t!?~ soap~~ht of ~6~ I~d~bt~da~ss. ot ur p~tt IL~r~ot. ~rhw d~~. w6~J~~~ ~r ~ccelen~ioa o~ otb~rnrls~. Holder is espow-
e~ed to sell. ~a~i~, ud d~li~K ~b~ wl~ol~ or n~ part of th~ Collat~rsl ~t prblic or privat~ sal~. witiwt aesud. ~dvertise~ht ot
.o~~~~ ot o~ p~.~. ot o. ot ..y .dJa.~at thereo[. ~?I~id ~t~ M~nbq ssp~swir ~r~ived. A~tn d~docti~s ~11 espeoses
iacideat~l w o~ ~risius troa wcL sal~ or sales. Holdt~ w~y spplp th~ ~eaidrt of t6~ proceed• thereot to ~t parwest of ~be I~deb-
tedaeu. as it sball d~a~ prop~r. ~et~~i~s ~b~ e:cesi. it nr. to tl~e u~deni~~d. 7fis ~~deni~aed herobq w~ive~ ~11 ri~t ol ~e-
deaiptioa or ~ppcai~saeet w6~t~~~ befon o~ att~~ sal~.
8olde~ i• (otther eepowetsd. to collect or ca~s~ to bs collected o~ otl~e~is~ to be co~v~ttea fato so~ap ol ot qy part ot tb•
Coll~tenl. bp wit or otherni~~. and to wrrade~. coap~is~. hlease. nsew. e:tad. e:einse. or wb~tiaa ~ar ite~ ol ~L~ Col-
latet~l is traas~ctioas vdti ~ie aad~~si~d or ur tLi~ p~~q. irr~sp~ctiw o~ ~sr ~ss1~Mt tliereot bp t6~ ~~deni~psed. ~~a r?it~•
o~t prior aotic~ te o~ cosaNl OI tti~ p ani~ed or ~ryr ~ssi~t~. w6aa~~sr up itew o ti~e Coll~tenl aliaU ~ot bt paid ~r?e~ du~.
o~ othenriss s6a11 b~ i~ det~olt. wAe~hn o~ ~ot ~6~ i~debted~~ss. or aap part ~6ereof. ku bsoone dae. Bold~~ s~aQ ha~s ~he sa~e
ri~ts asd por+KS rnltL ~eap~ct to wck ite~ ot tL~ Collattnl ~s ah ~tea i~ t~sptct trtreot iu ~lis pan~pr i~ cas~ ot ao~pap•
meat ot ib~ I~d~bteda.is. or ani part ttitteo~. ~r?ea dr~. No~e oi t?~ ri~q. ra~~aies. pririie~es, o~ po~ren of Hold~~ expresslp
pwvided tor h~reis sh~ll be e:clui~e. 6rt tad ot t~e~ e6~11 b~ ~as~lativs wil? a~d i~ ~dditio~ to ereq ott~et tl~~. t~tdr. ptlvi-
less, and po~+er oor+or he~e~ttet esistiss I~ (avot ot Hold~~, whe~et at I~w or Is eq~iq. i~p st~wte or o~ernrise. •
The ondersi~ed • ees to teks all aeceasary steps to aduinister. aapsr~ise. prosewe. ~od protect tbe Collste«I: ~sd re~tdleu
oI ~sy actio~ ta es br~older. the~e aball be no datr ~poa Holder in this respect._ '!be ~adeni~sed ah~l! pay all e:pease~ o aar na-
ture. rvhe~her incaned in or oat ot ooon. ~od ~r6ether iscsrred be(o~e or alter e6is Note s~aU beco~e due ~t its aaturitp dats or other-
wise. iaclodiss but sot limited to reasooable attoraep's fees and oosts. ~rhic6 Hotder w~r deeia aeceswry or proper ia coaaeetioa
wit6 t6e aatiatactios ot t~e Iedebtedness or the adsi~istratios. sopenrisios. prcserwtioa. protectios ot (ieclodisa, bot aot liaited to,
~he mainte~aace oi adeqa~te insa~ance) or the ~ealisatioa opoa the Collateral. Holde? is aothorised w pay •t anr time aad iraw tiaic
to time aar or all oI aocl espesses. add the aoouut oE sac6 papomt to the ~sonat ot Ihe Iadebtedoess. aad cbar~e interest thereoe
at the rate apeciGed heceia wi~ reapect to tLe priacipal awosat of thia Note.
'Ibe seceriq d~ts oi $older ~ad its assi~s here~nder s`~Il not be iapaired 6~r HoldePs ~?le. hypothec~tios or rehypot6ecatios
ot aar note ot tl~e undersi~ed or anr ites of the Collatenl. or bp ~nr isdulsence. isclodisg bot not lisited to (a) uy reaewai. ea-
teusion. or modi(icatios x6tc6 Bolder mar ~raot rri~h reapect to Ise lodebtedseas or a~y part ~hertof. or (b) aer surreade?. co~pro-
mise. releaas. reaewal. exteasioo. e:c6anae. o? snbstiwtioa ~vhic6 Holder may ~a,t ia respect ot the Co11~~en1. or (c) aar iadel-
6eace ~~nted i~ reapect of ~nr endoner. ~uaraator. or ao~etp. The parch~ser. assi~ysee, transteree. or pled6ee of t6is Note. tAe
Collatecal. any guaranty. and anr other dorumeot (or aey ot them), sold, assi~ned. tnnsferred. pledged, or repledged, shali (ortAwith
become ve~ted with aad cntitird to eterci+e all the powers unJ ri~ts given try this [Yote aod all applications o( ihe nn~fersigncd ta
Holder or SBA. as ii said porcheye~. assigpee, trnusleree. o~ pledgre were originallr nased as payee in this Note and io said appli-
catioe or applicatious.
71~is promissory note is given to secore a loan which SBA ia makiog or in which it is partieipatin6 and. pucsoant to part 101 oi
t6e Rules aad Regulatioo~ of SIiA (13 C.F.ti. 101.1(d)). this iastmmont ia to be constroed aud (whco SBA is the Holdet or a patty)
iu interest) eotorced ia accordance with applicable Fedaral lew. .
The endersigned uaderstauJ~ and :~grrrs that it is maadatory that he retum SBA Fona 1018. duly executed witLia 12 monlhs.
and such other evidence as is nrcecsary aT;d satisfactory to $tnaU I3usinrss AJministratiun within oneyewr o! the datr o( the
exe~uted nuie,wfiich r~idmreshall inJicate that the fund~ rectived have been used as directed by tfie anthorizatioa. Pailure to
tumish sach evidence Nithin the 12 month period shall reise a presumptioa that the proceeds o( the loaa have been wwngfully
misapplied.
The und~rsi~ed understands asd aRrees ~hat in the e~ent he wrongfully misapplies the procceds of tht loan obteined.
he shatl be civil~ linbl~~ to t`?e :1~';^ini~tr.ic«,n in :+n aa~ouat equal to one and our half ~1~1 times the oriRinal principle
amouat ot !he loan. It is uoderstood ~hat 1he te~ru "iade6te~lnrs~ ' as detined ahove shall iaclude this amount. iI imposed 6Y the
Administra[ioa ~ -
'i NOTICE TO BORR0IMER
; ~ You have a legal right nnder Federal Law to cancel ~his traasaction, iI yoo desire
` to do sn, with ou; any penalty or obligation withia three (3) bnsioess days (rom date
~ ot this note.
~
. I'H ~IT~'NESS iaT~R~OP ~+e h~ve hareuuto 9et our haads aad seals t2sQ dap and pear
first aaov~a ~r~citte~n. -
,
~ Norman E. Hayslip and Thomas C. Hayslio
(a Pazta~rsh,iP) d/bla HAIMT_Tp Z~A:iDSCAPE
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; i Norman s. slaysl p P~
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~y'?`~.r`'~ ~~:.!-,•!7 s
T C. Hapslip ~ aRT~BA . '
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i~ote.-Corporate applicants most execnte Note, io corporete oame. bp dulr ~othorised o((icer, aod atal mo~t be aI(i:edand duly .
attested; partoerahip ~pplicao~s most esecote Note in tinn name, together wiih signatore o( ~ aeoeral parmer.
SBA FORM tG7 p (5~74)
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