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U.S. Small Business Administration 86— 105064
<br />ttpon the nonpayment of the Indebtedness, or any part thereof, when due, whether by arcelerstion or otherwise. Holder is empow-
<br />ered to sell, assian, sod deliver the whole ar any part of the Collateral at public or private sale, without demand, advertisement or
<br />notice of the time or plscc of tale or of env edjoarototmt thereof, which are hereby expressly waived. After deducting all expenad
<br />:incidental to or arising from each sale or sales. Holder may apply the residue of the proceeds thereof to the payment of the ladeb-
<br />tedness, as it shall derm proper, returning the exress, if any, to the undersigned. The undersigned hereby waives all right of re-
<br />demption or appraisement whether before or after sale.
<br />Holder is farther empowered, to collect_ or coupe to be collected or otherwise to be converted into money all ar any part of the
<br />Collateral, by suit or otherwise, and to surrender, compromise, releasr, renew, extend, exchange. or substitute any item of the Col -
<br />lateral in transactions with the undersigned or soy third party. irrespective of any assignment thereof by the undersigned, and with-
<br />- oat prior notice to or consent of the undersigned or any assignee Whenever any item of the Collateral %hall not be paid when doe,
<br />or otherwise shall be in default, whether at not the indebtedness. at any part thereof, has become due. Holder shall have the some
<br />rights sod powers with respect to such item of the Collateral as arc granted in respect thereof in thin paragrafh in case of troapay-
<br />amat of the ludebiedneas, at any part thereof, when due. None of the rights, remedies, privileges, or powers of Holder expressly
<br />provided for herein shalt he exclusive, but each of them shalt eo
<br />be mulstive with and in addition to every other right. remedy, privi
<br />legs, and power now or hereafter existing in favor- of Holder, whether at law ar in equity, by statute or otherwise. - -
<br />T1tt tmderoip ed alleges to 'take all necessary steps to at8nroister, saperviae. preserve, and protect the Collateral; and ieRardlras
<br />of any action taben by Helder, there -half be no duty opea Holder in this respect. . The undersigned shall pay all ezpeases o any at-
<br />tart, wbetber incurred is or tot of wort, and whether iaenrred before at after this Note shall became doe at its maturity date or other
<br />.rime. including but not limited to reasonable attorney's fees and costs, which Holder may deem necessary at proper in connection
<br />with the satisfaction of the ladebtedueas or the administration. supervision. .preservation, protection of iiaclaniag, bat not 1ffiited to,
<br />the msh teoance of adequate insurance) or the realization upon the Collateral. Holder is authorized to pay at any, time sad from time
<br />to time any or all of such rxpenaes, -add the amount of weir payment to the .amount of the Indebtedness. sad charge interest thereon
<br />•t the rate specified herein with respect to the principal srmooat of this Note.
<br />The security right% of polder sod its assigns hetconder almlf not be impaired by Holders sale, hypothecation ar mitypothecatiom
<br />of soy irate at the undersigned or any item of the Collateral. ar by any isdulgeam including but not limited to (a) any rmawaL. es-
<br />teesion, or modification which Holder stay grant with respect to the Indebtedness or any part thereof, or (b) my morreaier. comgoo-
<br />ueiwe: rel ease. renewal, extension, exchange, or sabatitatisa which Holder may great is rrspeetof the Collateral. or 1d any isdrl-
<br />gesce graated in respect of any endorser, guarantor. or surety.. The purchaser, assignee, transferee. or pledgee of this -Yore, The
<br />Collateral, any guaranty. std any other due fur nay of them); -sold, assigned. transferred, pledged, or rapledgsd„ shmill forAwith
<br />become vested with and entitled to exercise all toe powers mad ril6ts given by this Note and all applications of the undersigned -to
<br />Holder or SHA, as if said purchaser, assignee, traaafesee, or pledgee were originally named as Payee in this Note mad in said spph
<br />aatiom or applications.
<br />- - -Ilia promissory note is given to secure -a loan which SBA is makiog or is which it is participating sad, personal to hart 101 of
<br />the Rules and Regulations of SEA (13 C.F.R. I01- 1(41), dtis instrument is to be cousttued.and (wh= SHA is the Holder ar s party)
<br />in interest) enforced in accordance with applicable Federal Law. -
<br />- The tem "intidersignee as iised in this Note sball meals the signer or
<br />_ -. - - signers of this Note; and such sigzxwsa if m3 re than ti e, shim.- be -
<br />jointly and severally liable herosAw and by signug ems an
<br />intent
<br />to bird their sellarate estates.
<br />n7RL'ST r ,./ SY,
<br />S
<br />Note.--!_, orparaw applicants mod :.A rote Note. is irorpursie aaiar. ire, - duly as tlaari: ed atTiret, and se.z -a.$ Ire atYsrf .ad daft
<br />nttasted. partner-hap applicants most exatuts Note in fin" name, toorther with *,$motor, of a gaaeral partnrr.
<br />AUFa
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