1. PROMISE TO PAY:
In return for the Loan, Borrower promises to pay to the order of Lender the amount of Seven Hundred Forty Eight
Thousand & 00/100 Dollars, interest on the unpaid principal balance, and all other amounts required by this Note.
‘‘Collateral’’ means any properly taken as security for payment of this Note or any guarantee of this Note.
''Guarantor'' means each person or entity that signs a guarantee of payment of this Note.
''Loan'' means the loan evidenced by this Note.
“Loan Documents'' means the documents related to this loan signed by Borrower, any Guarantor, or anyone who
"SBA" means the Small business Administration, an Agency of the United States of America.
3. PAYMENT TERMS:
Borrower must make all payments at the place Lender designates. The payment terms for this Note are:
This Note will mature in 25 years from date of Note. The interest rate on this Note will fluctuate. The initial Interest
rate is 10.60% per year. This initial rate is the prime rate on the date SBA received the loan application, plus 1.00%.
The initial interest rate must remain in effect until the first change period begins. Borrower must pay a total of 9
payments of interest only on the disbursed balance beginning one month from the month of initial disbursement on
this Note and every month thereafter; payments must be made on the second calendar day in the months they are
due. Borrower must pay principal and interest payments of $7,063.00 every month beginning one month from the
month of initial disbursement on this Note; payments must be made on the same day as the date of initial
disbursement on this Note in the months they are due. Lender will apply each installment payment first to pay
interest accrued to the day Lender receives the payment, then to bring principal current, then to pay any late fees,
U.S. Small Business Administration
SBA LOAN #
SBA Loan Name