LOAN AGREEMENT
THIS LOAN AGREEMENT ("Agreement")is made May 22, 2008 between the Borrower
and Lender identified in the attached Authorization issued by the U.S. Small
Business Administration("SBA") to Lender, dated April 24, 2008, SBA Loan Number
32342460-07 ("Authorization").
SBA has authorized a guaranty of a loan from Lender to Borrower for the
amount and under the terms stated in the attached Authorization (the "Loan").
In consideration of the promises in this agreement and or other good and
valuable consideration, Borrower and Lender agree as follows:
1. Subject to the terms and conditions of the Authorization and SBA's
Participating Lender Rules as defined in the Guarantee Agreement
between Lender and SBA, Lender agrees to make the Loan if Borrower
complies with the following "Borrower Requirements". Borrower must:
a. Provide Lender with all certifications, documents or other
information Lender is required by the Authorization to obtain from
Borrower or any third party;
b. Execute a note and any other documents required by Lender; and
c. Do everything necessary for Lender to comply with the terms and
conditions of the Authorization.
2. The terms and conditions of this Agreement:
a. Are binding on Borrower and Lender and their successors and assigns;
and
b. Will remain in effect after the closing of the Loan.
3. Failure to abide by any of the Borrower Requirements will constitute
an event of default under the note and other loan documents
Borrower:
Xxxxxx Corporation
By: /s/ XX Xxxxxx Date: 5-22-08
Lender: Signature Bank
By: Date:
Wolters Kluwer Financial Services, St. Cloud, MN
