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' U.S. Small 8usin~ss Admini:tntion ss~ ~oAl1 Nue+lstalt
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GP-Z65 171-Z0-07-MU
. NOTE
,Jensen $ea,~h . FIo__ rid a
(city ..a state) -
~ 1~-4Q4:94 (D.,.) Februa ~6, . {9 $0 _ -
For value received, .the.vadersiHted promises to par to the order of
JENSIs~I BEACIEI HANK
~Paree)
at lts office is the city of Jensen Beach ,State of Florida
or a holder's optiaa. st sack other place as may be tiesigpatad from time to time bf the holder
aN8 HUNDRED 'THOUSAND AND NO/100-r-w-w~•ww~w-..w-w.~--w-w-..~-w-ww M dollars.
(w'rite oat ~atosnt)
with interest oa anpsid principal computed from the date of each advsece to the sadersigtted at the rate of 15 1/2 percent
~ per aaaam, payment to be made in iosullmtau as ioltows:
~'nstalLnents, including ptincipa], and interest, eadi in the avant of
$ 2,4oS.00 ,payable Inanthly, beginning one (i ) months from
date, each said installtl~?t tQ be first applied tQ interest aecrued_to the
date of receipt of said instalLnent, and the balanve, if _ any, to
principal, and the baianee of principal. ana intetesc payapit ~ t;x- ire€i~c
five (5 j years from date.
Payment of any installment of principal or interest owing oa this Note mar be made prior to the maturity date thereof without
peaalq.
'tht term "Indebtedness" as need herein shall mtaa the indebtedness evidenced br this Note, iacladiag principal, interest,
and a:penses, whether coatiagest. sow due or hereafter to become dse and whether heretofore or eostemporaseosaly herewith or
hereafter contracted. 71te term "Collateal" ss seed in this Note shall mean oar fends. gaaraaties, or other property or rights
therein of say aatare wbatsoerer or tbepraceeds thertot r.bicb msr bare been, ere, or hereafter may be, hypothegted, directly or
indirectly br the undersigned or others, is eonnectioa with. or as aecariq tor, the bdebtedsess oraaq part thereof. 'ilte CoNater-
al. and each part thereof, shall secure the indebtedness sad a:cL part thereof. 'itie~ooveaaata sad conditions set forth or referred
to in say sad all isstroments of brpotheeatios coastibtiaa the Collateral arc hereby incorporated is this Note. as covenants and
conditions of tl,e undersigned with the same farce sad eltect •s though each covenants and conditions were tally set forth herein.
'the indebtedness shall immediately become due asd parable, without suffer or demasd, opus the appointment of a receiver or
lignidster, ~rbether rolsatary or invalaatary, for the sadersigsed or for any of its property, or spun the tilisg of a petition br or
against tht aadersigped Hader the prorisioss of oar State iasolvesq law or seder the prorisioss of the Bankwptey Act of 1898,
as amended, or spa the makisg 6r the oadersigsed of as assigameet for the benefit of its creditors. Bolder is astborised to de-
curt ail or oar part of the ladebtedaess intmtdiatelr due and payable upon the happeaisg of snr of the totlowisg crests:
(I) Failure to pay any pan of the indebtedness whtn due; aonper[ormasce by tht undersigned of oar ageeaeat with, or say cos-
ditioa imposed by, Holder or Small l;usiaess Admiaistratioa (hereisafter called "SBA"). or either of there, Mith rupect to the Is-
debtedoess; (3) Holder's discovery of the nndersigoed's failure in sny applic:lion of the andeniNred to holder or SBA to disclose
say fact deemed by Noldtr to be araterial or of the making therein or in any of the said sgrtemeats, or is say a(tidarit or other doc-
umcatssabatitted is cooaection with said application or the iadebtedsess, of ear misreprestatatiw 6r, oa behaltot, or for the beae-
fit of the oadcrsi~ned; (4) the reorganization (other than • reorgatlizatios pnrssast to oar of the prorisioaa of the Baskraptey Act of
1898, ss amended) or merger or cossolidatioa of the aadersi®aed for the making of asy agreeareat therefor) without the prior written
coastat of holder; ISa the nndcrsi~red's failure duly to account, to Holder's satisfaction. at end time or times as Hoiden may re-
quire, for say of the Collateral, or proceeds thereof, t•o:uiog into the control of the nndersiBred; or (6) the institatioa of oar a,rit
atfcetiog the nsdersigned deemed br holder to affect adversely its interest heteasder in the Collateral orotbernise. folder's fail-
ure to a=erciae its rights Hader this paragaph shall not cooxtitute a wsi.cr thereoi.
59A FARM 1~7 (6.71+) REF. ND S10•t F'~~EV~OUS EO+t.JtdS ANO SBA FO?riMS 15a, ~26A, S30 ANO S3JA ARE OBSO<_EtE