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1'pon thr nonp~ymrot of the Ind~b:rJnr+a, or any part ih~~~of, ~h~n dur, ~he~hrr bv acrrlrration or o;A~rwixr, )Jold~r i• rn~pv~.- ~
~red ~e s~fl, assiKn, at?~ deli~er the N~olr or eny part ol ~he (:olla~~~a' a~ PtJEI1C Of ~f1~81P s.~ie, withaut d~m:~n~i, ad.~•r~i.~m~~nt or
noticr of the ti:n~ or placr o( sair or o( any odjoumn~cot lherro?, MhicA are ~eseby expre~tsly w~~ived. i1(te: uednctin~ al) ~ipen~<•a ~
incid~atal to or ~tisinR (rom su~h ~alc or vatos, 11o:'drr may apply thc ~e•sidne of the ~fOCPCdA lFiPICOI /0 (A! Fa}m~nl of ;hr IndrF- F.
trdn~+s, aY it +hal! ~lrem ~ropet, rotutaiag the excc,s, ~t aay, io tA~ undrrs~~m~d. 'i'1ae andcrsiy~ed heren~ waivcs n!i ?~Fht o( rr-
domption or appraisrmcnt w~selhe~ brtore or ,~(ter s~le.
11~IJrr i~ luriher ~mpov.crc•d, to colle~~ o~ cause be collected or olherMi~e to P! COpYPt(~•d into mooey e~', a~ any ~art of t~ee ~
Cerllatetai, by suit ot otfiertiise, and to curre•nde?, rorrpromi~e, relcasr, rencw, ~itend, cxchan~e. or ~ubxiizute any itrm o[ ~h~ (:c1= '
iatetal in tran~actinns w;th ~hr undersi~n rd or any third party, itrespective o( any sssip~ment tnereof bv th~ undtrKign~A, and Ki;'e-
ont prior nohce to or coas~nt of tAe un~dcrs~~vr~ or any assiFnee. Rhenev~r any itrm oI lAe Coilatcrai shall not be rai~ ~.hrn due,
ot ot4c+wise ihal: be in dFfauSt, whether ot not ~hc iadebtc~'ness, or zay patt ther~o(, has becomc dae, Holder shall havc the xamc
ri~J:ta aad po+v.r~ with tetpect to snch item ef the (;ollat~ral as are grantrd in respect thereoi in this patagrapn in rasc of nonpsy-
ment a( the ~ndebtrun~sa, or any part therrof, s~hen ,lue. Nor.~ ol thc tigh~a, rrr.~~dirs, privil~fes, or powers o( Noldc.+ exprrs~cly
providcd ior herein shaU Ge ezclusive, but each oi aArm shail br. ~umulati.•e with aad ia addition to every cthrr right, rcmedy, privi.
lege, a~d pnwer neN on c~reafter exis~ing in ta.ur ef }~o{drr, M•het6cr at ta..• oz in equity, by s:atute or otherwisr. .
?hc undcrsi~ ed agrces +.o take ell arcesxary steps to~administ~r, cupervise, pr.~scrve, and prot~ct shc Col;ateral: and te~;ard}css
o( an~ ~ction taken by Holder. thcre shall be ao duty upon 1(older in th:s respect. 'i'he undersigned shati pa7'all ezpca~~•s of any oa-
tu~e. ~hether inc4rred in or out of court, aad whcther incurred before ot alter :his ;~otc shall Ucremr duc at itc maicriiv d:te or other-
wise. including but not iimited to reasonable attorrey's (ees aad costs. whiCh Notd~r may dt-ern necessary or praper in connectiun
ritA the satislaction oi the lndcbtedne~s or thc a~mini~tration, supcrvision, presr~vation, protection of tincludiag, 'cu± not limitcd to,
i6e maintcnance of adequat~ insa~aace) or th~ rratizatioa upon :??e (;ollaleral. Noldrr es au±horizcd to puy at any t:m- ~ad !rom t;me
to timt aay er a!1 oi svcA ezpenses, edd the nmaunt of suci? payment to ihe arr:ount a( the (nd~btedness, and cna-ge intereat tne~eo~
at the rate sPeci(icd herein witA rcspect to tAe priaeipal amuuat o( this Note.
'1'he srcurity rights of }~older and its assi~s ~ercuader +heli not be i:npaired by ~~oldei s aalc,hyQo:hecation or rca}po;heca:io~
o( any note of the undersignrd or aay itcm o( thc Collateral. ot kry anp inou;Rcnce, including l•ut aot limitrd to (a) anv r~-:,-wai, cz-
tension~ or nodilicatioo which liolder may graat with respeet to the (od~btedness ot •ro,r part thereol, o~ (b1 aay s~rrcr.aer, cornp:e-
misc. tclc~se, rcnewal. e:tension. cxchangr., or su~s~itutSon whic?~.]ioldrr may graot in re,pect of thc Collater~:, cr aay ~ndu:-
~ence graated in respect o! any mdotscr, guarantor, or surety. The parchaser, assi~~nec. traas(eree, ot plecigre oi tni. `;otr. the
Collateral. any guaraoty, and aay ather document (ot any of tl+emf. sotd, assi~sed, tran.ferred, pledged, or repleogr3, ~.h.~ji j~rthr:~h ~
become vested srith and cntiiled to e:ercese a!1 tnc powers and rig}~ts p,iven by this ~;ote and a1I application. oi t~~ c~ i~rs:,;nr~ •c . '
Hotdcr or SBA. as iI said purchaser, assignee. trensierrr, or pledgee .vcr~ orig:oal~y namcd as Paye~ in ini~, 1nt~ 3qi; app':;.
cation ot applications, ~ Y
'jt;is p-o~issocy notc is givea to-secnrc a loan which SBA is makiag or in M•hi:h il is paniripatin~ anya, ;nrs•::ant tr r art lsli of
the avles and R~~~lations oi $p~ (13 C.F.R. ~Ol.t;d)1~ t2;is instniment is to Le c~nstrveJ aad (~.a~co ~gr1 is tF:~ ~1u;der ~r a part~i
ih int.tes23 eaforced in a~eordance with applicab;c F edttal law.
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~'lARREii1' S LAUri ~.RY-CLEA'_dE~S , Ii:C ~
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~iotr.-Corporatt anpiia+ats must etrc;:tc ;~ott, in cotparatc r..;n:c, by a , , t,,. ,•r~=-`-- ~
duly ..othnri~c~ o(i.^*°r, aad •.ca: , i-~~'
attestcd: pa~tner .nip a~plicaats m~sst cxccv~c ~iote in fir.r. nane. tt. .~~i~cz w:;h ~:;~.;;are o( a ~~.-~r.1 n~:.
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59A ~'ORM 147 (8-71i ~ ~ ~ i~ Z ~
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