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U.S. Srnall Ruciness Administration ~ ' ~ ''
l;pun thr nunplymrnt of the IndrbtcJnrss, or an)• put th~•~rul. Nfirn duc, whrthrr b~~ a~.cler.~~i~~n or c~ll~rncicc. Ii~~ldcr ic ~iupn~rcrcd t~~
,~•U. ~c,~~•n. and drl~vrr thc uh~,ic or any patt of thr Collatcrd at public ut pnvrtc salc, with.~ut dcmand. ad~•crtiumcnt ur n~~ti~c o( t;~c un~c ~~r ~1,~•.
.,f v!c ~~r of ~n}' :,d~~~urmnent therci~f, whkh ate heteby c~~~rr~~lv w.,i~.d. Alter deducline all c~~xn~ce incidrntal tu ~~r a~,inr Ituin <u.h a:~'r ~~~
•.~Ict, Il~~klrr rn~~ appN Il~c tc+K1u~ uf thc ptuiecda Hirrc~~t tu th: pa~ tnrnt :d thr I~xlcbt.dnrc., a~ it cl:.~II diti•m pmpcr. retinnin~ thc c:~c•cc. U.~n~ ,
~,~ Ihc undcr~igncd. l:ic und~r.iFn~YI Ill'IC'b)' M'J111't dII II}!III uf trdru~pUun.~t ~ppr~i~rmrnt whrlhr~ hrturc ~~r ~fter vlr.
Hu]drt i~ fwtiter rm{ww•rrcd, to cullret or cause to l~r cull«t.~ct ut ulhen~ifc to be comerted itito mone)• :ill or any part of thr ('u{L•rteral, h~'
z~ut or othrr+~~cr, .+nd io surrcnder, cump~u~:usc, rclra.~, ~cncw, r~tcr-d, c~ch•rngc, ur wh~ti~utc an>• itrrn of Ihc ('otlatrr.-I in tran..ictinns ~.~~ith ~hc
:,ndet.tZ•l-eJ ur an)' lhud parly, irr~~pecti~r uf any •r.~iFCUnrnt thcr~uf b}• the uti~tec.iKr.•_d. a:id w~thuut prior noticc to ur c~~n.ent of t}:c undr~.i,:ned
~~r any auiitncr. Nher.cticr .~ny ilrm of U~c Cull•~t~r:J ~h.-!1 not tk 1ieiJ µhcn duc, .,t othcrH•isc sl~.dl br ~n dclault, wLcthcr or nnt thr ~ndcbtrJnrcc,
,~r ~n} pirt th~roal. hac tweomc Suc. HOWCf SIIJU I1J~'l` Uic ..~m~ ri}~hts acxl puw rrs w~lh r~c~Trrt to ~u.h itcm ul tlic C~~ll~trr-d ac arc i rentrcl in ~r~~,crt
thcreof in ti~i+pat.~~:seph in casr of nunp~ymcnt of tt~c Inlrbtcdnras, u[ rny part thctcof, w•h.n dur.:vunc ot ihc r~ht~, rcmcJ~cs, pnvd:•kr~, ,~r
,,:•acn ~;C Ho1Jcr c~, rcv(y pru~idcd fut hctcin +t~~ll Uc c~rl~~stvc. but ca~h of thcro sl~.ill br cumul:~h•re with and in aJdlti~a~ t~~ .~~•n uthcr nc•'it,
rrmr.l>•. privikbc, anJ powrr ~ow• c~t hcrcaftcr cxicung in fa~ur uf Iluldcr. whcther at law• ~~t in eyui.y, by ctatutc or othcn~~se.
'il~e undrrsignrd aFrers tu lake all nec~~ss~ry steps to a~lminic;cr. +uEkni~e, p:ecrr.r, and protect thr Cultateral: •rnd rr~ar~:trc, 01 .,ny .~~ ~i~~n
;,4~•n by 1loldcr, thcre Ji:dl f~c no duty upun Hulder in thi: rcti{~rrt.'llie undcrsi~;n~d ai.~~l pey all c~{xnses ~~f ~ny naturc, whcthc! in~urrrd m nr uut
~~f c~~urt, anJ whrU~c~ incurrcd bcfure ot aftet this h'utc ~~ell ixrumc dur dl HS I11:1UIfll)' lS.1lC ~,r uthcrui~c. includtn~ Lut nut IitnucQ tn rr~c,~n.~hlc
:±t~~rney's fc:c ~nd r.~c1s, whirh IIul~lcr ma}• dccm nc~rsiary• ur pn~{x~r in cunncciiun hith thc .atisfartion ui thc lndc6t~'dr:ac~ ur thr ~dminict~atinn,
,upenision. pneerv~ti~m. prntrrtiun uf (mduding. bul nutlimihd t~>, the m~~ntet~ame of ~dcquatr tncurarcr) ~~r the rc~lii~tinn up~>n the r.~lletrr.d.
i i+lurt is r~lh~~rii~d to pr~ ~t .~n} tuue and Isum timc to tinx :~n~ or atl af sudi c~pcnscc, add thc am~n~nt o( auh pa} mcnt ro thc :,m~~unt vf thc
~r.drbtrdncss, auJ charrc intcccxt th~rrun at J~c rate cpcci-icd hrr~ ~n ~~ith res{xct t~~ Ihc prinrq~al am~~unt of this N~~tc.
71~r xcutih~ nghts ot Huldet rnd its as<irns hcrrundc[ sl~ell n<~t b~ impa~md b~• Holdcr'c _ilc, hy p~~thciat~rr. ~~r nh~~~nthcceti ~~t r~t :tr.s n~,tc
t thc undrrv~cJ or nn~~ it~m ~~f thc Collatct.il, o~ by ~ny indul~:cnrc, sncludinF hut nut IimitcJ to lal any~ rcnc~;+l, c~tcnc;:,:., nt m~~diticalinn
.iii:h t1olSer m.~~ }tsnt with respe: t tu the 1nil~bteJnc~s ut any patt thcrcof, ur fb) an}~ iurrrndcr, cumprumiee, rc::ax, rcnc~~al, c~!en.i~~n, e~-
;.,ru~r, or suhstitutiun which Holdcr m~y grant in res{~cct of tl~r l'uliatcral, or (c) any indul~cn.r Fr:~ntcd in rrs{~cet of any craioru r, c~isr~ru~r, ~~r
.;rrty. (he purchascr, .~c.4ncc, tcamfciec, ot p}rdgc~ ~~f this ~~~tc, thc Culi~tctal, any ~;ua~anit', snd any uthcr docurocnt /or any ~if thcml, a~ld,
~..«z~nrJ, trarofrrrcd. pleeired. or rcE~l:drrd. ~tu11 turthwith trc~~me vected with and entitl~d t~~ e~erci:r all the pou~ers and riFhtc r.icen h~ this
•~,[e ~r.~l ,tll aE:j~It~JliUilS Of If1C Uil~l~:ci~;ned tu H~~Idet ur Sft.~. ac i( v~d purchrsrt, asci~ ner, tr :ncfetc~, ur p1il~4:CC t~'l'fC Oit;'in ~Ih• n:~med ::~ Pa} er
~n chic \~~tC :lt1l~ IR VIl1 .lj~;~iica~un nr ~p~liiatiun..
This rn>nn~v~r} n,,k i~ : iti~~n tu xct:rc a l~~an uhi.h tiISA i: mak~na• u: in ~ehich it is par.cciyattn~• an~t, piusuant n~ {'art 101 ~~.` fhc Ru{c. ln:!
~:.:l.i:n;n~ ~ f ti}i•l ~ 1 ~(.I .F{. lUl.lidl). :hts ~n,tcu:arn: ic ;u br _~~:;,;ct~rd rnd i~~hcn Sli•\ i, thc li~~idrr nr :~ p:itty ir. ~~~trrr,!1 cntnra•d in ~r<<~r.i.
. ~.~~ u-~ih app!iclbi~~ ! ~•c:~~ral i-:w.
2~~arc3less of ti~e ~~hove tet~^s, *_he rate of interest to t~e d.arc~ec3 :x~ the
tvote is t~~ve~r tA exceec3 tile rti~x iriu~~n leqal rate af intere:~t ~errti ~t^r~ `~,•
*_h~ cc,ntr~lling Fe~~ral and/or Flori~a Statutes as of ttze fir.,t <3ay ,~£
the uslen~ar c3uarter ~~n ~ahich the ratf~ of i:~ter~st d~an~~s.
t?~~;3er ~:tzall ~ive written n.~ticF~ tn ,S[;11 ~~n~~ tri di~ i?r.c~ersic~necl ~~ ~,3cci
incre3se c~r ckscre~~se in ti~e in±~~rest rate within ten (10) c~-~j~, aEt:~r ~i~~
r~~f~ctive cjate of each rate ~3iu.stmerit.
If ~.s1e unt3ersiy~~ed :~hall be in default in ~,n~ent c3u~~ on ~.e in~~~t~t~~~i^~~•-.,
!:crein ar:d the S:^all nusiness I~ninistration (S~A) ;~urchases it5 _
<3~zara.it~.3 t~ortian of ~aici inc3ebtecJne:.:~, t.~~~ rate <~f interest :x~ tr~`!~, ~_. ~
~uarnnt~e~ ~.nc: un~-~~aranteE.-d ~ortions :~cein y`.all hec.~re fixe~3 -;~. t' ~
rate in effc~et as of t}:e ciate of :~fault. If the i~d~rsi~ec3 ~:~:_ill ~c~~
:~«_~ in ~~fault in ~k~y:~ent ~ahen S31~ ~urchases its guarar.tec~3 porti~~n, *h~
rate ~~f interest on t-~t'~ the q~.~~r.~lteed and im^~arant~d porti~n t~r~ir~
~i:.:~l !~ fixer3 at the ratA in eff~~ct a5 of t11e c3atF of purchase :ry "~t~.
BanY, is hereby given a lien upon and a security interest in all
proc~erty of each Obligor now or at any time hereafter' in the
pos~~ession of Bank in any capa~ity whatsoever, including
but not limited to any balance or share of any deposit, trust,
cr aerency account, as security for the payment of this note,
and a s~:~ilar lien upon and security interest in all such propertf•
of eagh r,~ ker as security for the payment of all other liabilities
of each Maker to IIank (including li~ibilities of each Maker and
any other person): and Bank shall have tre same rights as
to such property as ~.t nas with respect to the collatc~ral.
5182~1
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Pr~' ~ 1CiE'Clt
ATPFST:
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Secretary
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(Corporat~~ ~~~a2)
~ ti„tr.-('c,r~w~ratr ap; ti~antc rtwst c~ccut~ ~~,?c, in rnrp~,:~s~ au,ir. h} duh~ auth„n~cd officcr. and scal mu~t bc atTitcu anJ duly a;:~•~ted:
~ ~.,rincrJu~ aj~~-i~~.:intc riuct r~c, utc \nh: in firm rcz:nc, toFcUicr •.~:tn ~i~n.~turc ~; a~cncral p~rtnrr.
; Se~ Fo~M ,4,,3;0, ., a~~~349 Pa~E119~ PAOE 2
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