Preview
FILED: ERIE COUNTY CLERK 04/05/2018 09:59 AM INDEX NO. 805435/2018
NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 04/05/2018
FILED: ERIE COUNTY CLERK 04/05/2018 09:59 AM INDEX NO. 805435/2018
NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 04/05/2018
n m 14fius nessAdmimRrabon
U.S. Small Business Adrninistration
.]
UNCONDITIONALGUARANTEE
SBA Loan #
_n6
SBA Loan Narne CORP.
CPAPKE
Guarantor A. Papke
Craig
Borrower CPAPKE CORP.
.... _
Lender Manufacturers and TradersTrust Company
Date November 1 6 , 2011
Note Amount $2.50,000.00
1. GUARANTEE:
Guarantor guarantees
unconditionally payment to Lenderof allamounts owing under the Note.This Guaranteeremains
in effect
untilthe Noteis paidinfull.Guarantor must pay allamounts due under the Notewhen Lender makes written
demand upon Guarantor. Lender is notrequiredto seek paymentfrom any othersource beforedemanding payment from
Guarantor.
2. NOTE:
"Note" November 16 , 2011
The note
is the promissory dated in the principal
amount of
Two Hundred-FiftyThousand and 00/100 Dollars,
from BoITOWer to Lender.Itincludesany assumption, renewal, or replacement
substitution, ofthe Note,and multiple
notesunder a lineofcredit.
3. DEFINITIONS:
"Collateral" payment
means any property taken as security
for ofthe Note or anyguarantee of the Note.
"Loan" evidenced the Note.
means the loan by
Documents"
"Loan means the documents relatedto the Loansignedby Borrower, Guarantor or anyotherguarantor,or
anyone who pledgesCollateral.
"SBA"
means the SmallBusiness Administration,an Agency of the UnitedStatesof America.
SBA Form les (10/98) Previouseditions obsolete. Page1/5
True Copy: UCC Non-Authoritative Copy
FILED: ERIE COUNTY CLERK 04/05/2018 09:59 AM INDEX NO. 805435/2018
NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 04/05/2018
4. LENDER'S GENERAL POW ERS
Lender may takeany ofthe followingactionsat anytime,without notice,without Guarantor'sconsent,and without
making demand upon Guarantor;
A Modify the termsofthe Note or anyother Loan Docurnentexceptto increasethe amounts due underthe Note;
B Refrain from takingany actionon the Note,the Collateral,
or any guarantee;
C. Release any Borrower or any guarantorof the Note;
D. Compromise or settle
with the Borrower or anyguarantorofthe Note;
E. Substituteor release
any of whether
the Collateral, or notLender receivesanythingin return;
F. Forecloseupon or otherwiseobtain,and disposeof,any Collateralat public or without
sale, with
or private
advertisement;
G. Bid orbuy at anysale ofCollateralby Lender or anyother at any
lienholder, priceLender chooses; and
H. Exerciseany rightsit has, including
thosein the Noteand otherLoan Documents.
These actionswillnot releaseorreduce the obligations
ofGuarantor or createany or
rights claimsagainstLender.
5. FEDERAL LAW:
When SBA the Note
is the holder, and thisGuarantee wii)be construedand enforcedunder federallaw,includingSBA
regulations.
Lender or SBA may use state or
localprocedures forfilingpapers,recordingdocuments, giving notice,
foreclosing and
liens, other purposes. By using such procedures,SBA does notwaive any federalimmunity from stateor
localcontrol,
penalty,tax,or liability.
As to this
Guarantee, Guarantor may not claim or assert
any local law
or state
againstSBA to denyany obligation,defeatany claim ofSBA, or preemptfederallaw.
6. R1GHTS, NOTICES, AND DEFENSES THAT GUARANTOR WAIVES:
To the extentpermittedby law,
A. Guarantor waives allrightsto:
1) Require presentment, or demand
protest, upon Borrower;
2) Redeem any Collateralbeforeor afterLender disposesofit;
3) Have any dispositionof Collateral
advertised;and
4) Require a valuationof before
Collateral or afterLender disposesof it
B. Guarantor waives any noticeof:
1) Any defaultunder the Note;
2) Presentment,dishonor, or demand;
protest,
3) Execution of the Note;
4) Any actionor inactionon the Noteor Collateral,
such as disbursements,
payment, nonpayment, acceleration,
intentto assignment,
accelerate, collection and incurring
activity, enforcement expenses;
5) Any change in the financial
conditionor businessoperationsof Borrower or anyguarantor;
6) Any changes in the terms
of the Noteor otherLoan Documents, except in the amounts
increases due under the
Note; and
7) The time or placeofany sale or other
dispositionof Collateral:
C Guarantor waives defenses based upon anyclaim that:
I) Lender failedto obtainanyguarantee;
2) Lender failedto obtain,
perfect,or maintain
a securityinterest
in any propertyofferedor takenas Collateral;
3) Lender or othersimproperly valued orinspectedthe Collateral;
4) The Collateralchanged in value,or wasneglected, destroyed,
lost, or underinsured;
SBA Form 148(10/98) Previouseditions obsolete Page2/5
True Copy: UCC Non-Authoritative Copy
FILED: ERIE COUNTY CLERK 04/05/2018 09:59 AM INDEX NO. 805435/2018
NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 04/05/2018
5) Lender impaired the Cohateral;
6) Lander did of
not dispose any ofthe Cohateral;
?) Lender did not conducta commercially reasonablesale;
8) Lender did notobtainthe fair
market value ofthe Collateral;
of'
9) Lender did notmake or perfect
a claimupon the deathor disability
of Borrower or anyguarantorof the
Note;
10) The financialconditionof Borrower or anyguarantorwas overstatedor has adversely
changed;
1 l) Lender made errors
or omissions inLoan Documents or administration
ofthe Loan;
I2) Lender did notseek payment from the Borrower,any otherguarantors,or anyCollateralbeforedemanding
payment from Guarantor:
13) Lender impaired Guarantor'ssuretyshiprights;
I4) Lender modified the Noteterms, otherthanto increaseamounts due under the Note.IfLender modifies the
Note to increasethe amountsdue under the NotewithoutGuarantor's consent,Guarantor willnot be liable
forthe increasedamounts and relatedinterest
and expenses,but remains for
liable allother amounts;
15) Borrower has avoided on the Note;
liability or
16) Lender has takenan actionallowed under the Note,thisGuarantee,or otherLoan Documents.
7. DUTIES AS TO COLLATERAL:
Guarantor will preservethe Collateral
pledged by Guarantorto securethisGuarantee. Lender has no dutyto preserveor
dispose ofany Collateral.
8. SUCCESSORS AND ASSIGNS:
Under thisGuarantee, Guarantor includesheirsand successors,
and Lender includesits successors
and assigns.
9. GENERAL PROVISIONS:
A. ENFORCEMENT EXPENSES. Guarantor promises to payallexpenses Lender incursto enforce
thisGuarantee,
including,butnot limited fees and costs.
to, attorney's
B. SBA NOT A CO-GUARANTOR. Guarantor's will
liability continueeven ifSBA pays Lender. SBA is nota co-
guarantorwith Guarantor. Guarantor has no right
ofcontribution from SBA.
C. SUBROGATION RJGHTS. Guarantor has no subrogationrights or the Collateral
as to the Note untilthe Noteis
paid in full.
D. JOINT AND SEVERAL LIABILITY. Allindividualsand entities
signing as Guarantorare jointly
and severally
liable.
E. DOCUMENT SIGNING. Guarantor must signalldocuments necessaryat any timeto comply with the Loan
Documents and to enableLender to acquire,
perfect,or maintain
Lender's lienson Collateral.
F. FINANCIAL STATEMENTS. Guarantor must giveLender financial
statementsas Lender requires.
G. LENDER'S RIGHTS CUMULATIVE, NOT WAIVED. Lender may exerciseanyof its rights
separatelyor
together,as many times as it chooses.
Lender may delay or forgoenforcing any ofits rights
withoutlosingor
impairing any ofthem.
H. ORAL STATEMENTS NOT BINDING. Guarantormay not use an oralstatementto contradict
or alter
the written
of the Noteor thisGuarantee,or to raise
a defenseto this
Guarantee.
I. SEVERABJLITY. lfany partof this
Guarantee is foundto be unenforceable,
allotherpartswill remain in effect.
.I.
J. CONSIDERATION. The considerationforthis Guaranteeis theLoan or anyaccommodation by Lender as to the
Loan.
SBA Form 148(10/98) Previouseditions obsolete. Page3/5
True Copy: UCC Non-Authoritative Copy
FILED: ERIE COUNTY CLERK 04/05/2018 09:59 AM INDEX NO. 805435/2018
NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 04/05/2018
10. STATE-SPEClFIC PROVlSIONS:
I
The Loan securedby thislienwas made under a United States Small
Business Administration (SBA) nationwide
program which dollars
uses tax to assist
small businessowners. )fthe UnitedStatesis seekingto enforce
thisdocurnent,
then underSBA regulations:
of'
a) When SBA is the holder
of the Note,
thisdocument and alldocuments evidencingor securingthisLoan willbe
construed in accordancewithfederallaw.
b) Lender or SBA may use localor state
procedures forpurposessuch as filing
papers, recordingdocuments, giving
notice,foreclosing and other
(;ens, purposes By usingthese procedures,SBA does notwaive any federalimmunity form
localor state control.
penalry,taxor liability.
No Bonower or Guarantor may claim or assert against
SBA any localor
statelaw to denyany obligationofBorrower, or defeatany claimof SBA withrespect to this Loan.
Any clauseinthisdocument requiringarbitration
is not enforceable
when SBA of the Note
is the holder secured by this
Previous eChtionsobsolete
SBA Form i 48 (I $98) Page4/5
FILED: ERIE COUNTY CLERK 04/05/2018 09:59 AM INDEX NO. 805435/2018
NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 04/05/2018
GUARANTOR ACKNOWLEDGMENT OF TERMS.
Guarantor acknowledges that Guaramer has read and understands
the significance
ofall termsof the Note
and this
Guarantee, all
including waivers
12. GUARANTOR NAME(S) AND SIGNATURE(S);
By signingbelow, each individual
or entity
becomes obligated
as Guarantorunder thisGuarantee.
!
Craig A. Pa ke
STATE OF NEW YORK )
) ss .
COUNTY OF MONROE )
On the 16th dayof November, in the year 2011,
before a Notary
me, the undersigned, Public said State,
in and for
personallyappearedCraig A.Papke, personallyknown to me or proved
to me on the evidence
basis of satisfactory to be
the individual
whose name is subscribed
to the written
instrumentand acknowledged to me that she executed
the same in
her capacity,
and thatby her signature
on the instrument,
the individual,
or the person
upon behalf ofwhich the
individualacted,executedthe instrument.
Public
GERAROG ANTETOMASO
Notary Public,State of New York
No 02AN4923209
Qualified in Monroe County/c:
Cornmission ExparesFeb 16.
.
SBA Form 14S00/98)Previouseditionsobsolete. Page$/S
True Copy: UCC Non-Authoritative Copy
FILED: ERIE COUNTY CLERK 04/05/2018 09:59 AM INDEX NO. 805435/2018
NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 04/05/2018
FILED: ERIE COUNTY CLERK 04/05/2018 09:59 AM INDEX NO. 805435/2018
NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 04/05/2018
5 .1
smal '
Liutmecs .tdmmbauhou
.
I U.S. Small Business Administration
1
I
~ t
I
UNCONDITIONALGUARANTEE
®
Q
SBA Loan 0 02
SBA Loan Name CPAPKE Corp.
Guarantor
Craic A. Papke
Borrower CPAPKE CORP. .
. . ..
. .
M&T'I'
Bank
Lender
'
Date
Auc:ust ~, ' 203 7
'
Note Amount s75, 000. 00
1. GUARANTEE:
Guarantor unconditionallyguarantees payment to Lender ofallamounts owing underthe Note. ThisGuarantee remains
in effect
untilthe Note is paid
in fullGuarantor must allamounts due under theNote when Lender makes written
pay
demand upon Guarantor. Lender is notrequiredto seekpayment from any other sourcebefore demanding payment from
Guarantor.
2. NOTE:
"Note" of'
The is the proinissory
note dated August , 2017 in theprincipalamount of
Sevent y-Five Thousand Dollars and Zero Cents
from Borrower 10 Lender. Itincludesany assumption, renewal, or
substitution, replacementof the Note,and multiple
notes undera lineofcredit.
3. DEFINITIONS:
"Collateral"
means anyproperty taken for
as security payment of the Noteor any guaranteeof the Note.
"Loan"
means theloan evidenced by theNote.
Documents"
"Loan Documents means the documents relatedtothe Loan signed by Borrower, Guarantor or anyother or
guarantor,
anyone who pledges Collateral
"SBA"
means the SmallBusiness Administration,an Agency ofthe United Statesof America.
SBA Form 148 (10/98) Previouseditions obsolele PageI/5
True Copy: UCC Non-Authoritative Copy
FILED: ERIE COUNTY CLERK 04/05/2018 09:59 AM INDEX NO. 805435/2018
NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 04/05/2018
4 L ENDER 6 GENERA L POWFRS
Lender ma) takeam of thefollmvingactionsat anytirne.withour notice,withoutGuarantor's consent, and without
making demand upon Guarantor
A Modify the
.s4odil) terms of theNme or anyother Loan Document exceptto increasethe amounts due under the Note;
Refrainfrom lakingany actionon the Note,the Collateral.or anyguaramee;
C. Release any Borrower or anyguarantor ofthe Note;
D Compromise or settle
whh theBorrower or any guarantorof the Note:
E Substituteor releaseanyof the Collateral.
whether or notLender receivesanything in return;
F Forecloseupon or otherwise obtain,and dispose of,any Collateral
at publicor private
sale,with orwithout
advertisement;
G Bid or buy at anysale ofCollateral
by Lender or anyother at any
lienholder, price Lender chooses;and
Exerciseany rightsit has. including
those in the Noteand otherLoan Documents.
These actionswillnot releaseor reduce of
the obligations Guarantor or createany rightsor claimsagainstLender.
5 FEDERAL LA W
When SBA is theholder,the Noteand thisGuarantee willbe construed and enforced under federallaw, includingSBA
regulations.Lender or SBA may use state or
localprocedures for papers,
filing recording documents, giving notice.
foreclosingliens.and otherpurposes. By using suchprocedures. SBA does notwaive any federalimmunity from stateor
localcontrol,penalty.tax,or liability.
As tothisGuarantee, Guarantor may not claimor assertany localor statelaw
againstSBA to deny any defeat
obligation, any claim ofSBA. orpreempt federallaw
6 R[GHTS, NOT[CES. AND DEFENSES THAT GUARANTOR WAlVES:
Nt'iNC; GUA RANTY
(Personal)
New York
GI ARAN1OR Crag_A Pa e ___ __
IName
2.61.StafTordWan Rochester_NY I¾N
ResidenceAddress
'
BORROW ER CPAPKE COHl'.
Name
2M Wffçrd Way, Rochester, NY M620
Address
Mk.'I'
BANK M&T Bank, One M&T Plan.Bu(Talo. New York Omce of Genem( Counsel
14203 Attention:
1. Guaranty.
Guarantor,mtending to be Icgalh'
bound.
legally hereby guarantees the full
unconditionally and prompt payment and perforrnance
ofany and
ot'
ol'
allof Barrower 0 Obligations
(as delined
below) to the Bankwhen due, whetherat stated
maturity.by acceleration
orntherwise. As used in this
()bligations"
'(lhligations"
Guaraniy.the term shallmean any and all indebtedness
obligations. and otherhabihticsofHorrower to the Banknow or hereafter
'
existme.of every kindand natureand allaccrued and ta interest
thereon and allExpenses(as definedhelow) includingwithoutlimitation.
whether such obliganons.indebtednessand other liabilities
(s)aredirect liquidated.
contingent. unliquidated.
secured.unsecured.matured or
unmatured: arc
(ii) pursuantto a guarantyor suretyin favorof theBank: were
(iii) contracted
originally with the Bank orwith another party
oncluding obligations
under a guaranty
or surely
originally of such other pai1y); (iv)
in favor are contracted
by Borrower with
alone or jointly one or
more other (v) are or are not evidenced
parties. by a writing.
(vi)are renewed.
replaced.modilledor extended: are periodically
and (vii) extinguished
and subsequentlyreincurredorreduced and thereafter
increased Guaramor we pay orperform hisor her obbgationsunderthisGuaranty upon
of' of'
demand. ThisGuaranty is and is intended
to be a continuing
guarantyofpayment (not of
collection) the Obligadons of
(irrespectivethe aggregate
amount thereofand w heiher or not the Obligations
E fromtimeto time exceeds the amount
of this if limited). ~ independent
IIP Guaranty.
Mal ~ and
of, in addition
withoutmodification le.and doesnot impairor in ¹P'
affect. otherguaranty.endorsement. orotheragreement in connectionwith the
any way any
Obligations.orin conneenon withany other or
indebtedness to
liability theBank or collateral
heldby the Bank thereforor withrespectthereto.
whether ornot furnishedby Guarantor. Guarantorunderstandsthatthe Bank can bringan actionunder thisGuaranny withoutbeing requiredto
exhaustotherremedies or demand paymentfirst
from other parties
(b) Guarantor acknowledges thereceiptofvaluableconsiderationforthis Guaranty
and acknowledges thatthe Bank on
is relying this
in making a accommodation
financial to Borrower. whether a commitment to lend. extension.
modificationor replacement of,or
Guaranty
forbearance ~,
withL respect
— ll ofv another
cancellation
to. any Obligation. L . — L---
purchase
guaranty,
-c'Tl
of Borrower's — — L--
..—
i..-L1-
--- '
—
J ~'
consideration.
assets, or other valuable
2. Continuing, A bsolute,Unconditional. This Guaranty is absolute.
irrevocable. continuing.unconditionaland generalwithout any
This Guarantyis unlimited
in amountunless an amountis inserted
in the following
blank. Only if an amount this Guaranty
is so inserted,
ol'
is limited
inamount to ( l)
5 of the principal
amount of plus
the Obligations (2) in the
share (i.e.,
a proportionate
ol'
same proportionas the amount bears to the total
in (1) above principal
amount of of
the Obligations) allaccruedand unpaid premiums
interest. and
Expenses (as defined
below) with
incurred respectto the Obligations
and (3) all
of the Expensesincurred
with respect to this Guaranty
(collectively.
the "GuaranteedArnount").
3. Guarantor's Waivers diAuthorizations.
(a) Guarantor'sobligationsshallnot be released,
impaired or affectedinany way includingby any of the all
following. ofwhich
Guarantorhereby waives any bankruptcy,
(i) reorganization
or insolvency
under or that of any other party. or by any action
any law of Borrower of a
trusteein such new agreements or obligationsof Borrower ul'
or other withthe an>' adjustment.
any proceeding;(ii)any ol' any party Bank; (iii)
any
compromise orreleaseof any Obligationsof Borrower.by the Bank or any otherparty:the existenceor nonexistence
or orderof any filings.
exchanges.releases.
impairment or sale of.
or failure
to perfect
or continuethe perfection
of a security
interest
in any collateral
forthe Obligations,
(iv)any liiiture
ofGuarantor to receivenoticeof any intendeddispositionofsuch collateral:
(v) any fictitiousness.
incorrectness,
invalidityor
for
unenforceability. instrument
any reason. of any or otheragreementwhich may evidence any Obligation:
(vi) extension.
any composition, stay or
relief
other statutory grantedtoBorrower including.withoutlimitation.
the expiration
of lhe period
ofany statute of
limitations
withrespecttoany
lawsuitor otherlegalproceedingagainstBorrower or any personin anywav related or
to the Obligations a part
thereofor any collateral
therefor;
(vii)
any change inform oforganization.name, membership orownership ofBorrower orGuarantor:(viii)
any refusal
or failure
ofthe Bank orany
other person to the date hereof
prior or hereafter
to grantany additional accommodation
loan or other credit to Borroweror the Bank'sorany other
ol'
Preview
FILED: ERIE COUNTY CLERK 04/05/2018 09:59 AM INDEX NO. 805435/2018 NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 04/05/2018 FILED: ERIE COUNTY CLERK 04/05/2018 09:59 AM INDEX NO. 805435/2018 NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 04/05/2018 n m 14fius nessAdmimRrabon U.S. Small Business Adrninistration .] UNCONDITIONALGUARANTEE SBA Loan # _n6 SBA Loan Narne CORP. CPAPKE Guarantor A. Papke Craig Borrower CPAPKE CORP. .... _ Lender Manufacturers and TradersTrust Company Date November 1 6 , 2011 Note Amount $2.50,000.00 1. GUARANTEE: Guarantor guarantees unconditionally payment to Lenderof allamounts owing under the Note.This Guaranteeremains in effect untilthe Noteis paidinfull.Guarantor must pay allamounts due under the Notewhen Lender makes written demand upon Guarantor. Lender is notrequiredto seek paymentfrom any othersource beforedemanding payment from Guarantor. 2. NOTE: "Note" November 16 , 2011 The note is the promissory dated in the principal amount of Two Hundred-FiftyThousand and 00/100 Dollars, from BoITOWer to Lender.Itincludesany assumption, renewal, or replacement substitution, ofthe Note,and multiple notesunder a lineofcredit. 3. DEFINITIONS: "Collateral" payment means any property taken as security for ofthe Note or anyguarantee of the Note. "Loan" evidenced the Note. means the loan by Documents" "Loan means the documents relatedto the Loansignedby Borrower, Guarantor or anyotherguarantor,or anyone who pledgesCollateral. "SBA" means the SmallBusiness Administration,an Agency of the UnitedStatesof America. SBA Form les (10/98) Previouseditions obsolete. Page1/5 True Copy: UCC Non-Authoritative Copy FILED: ERIE COUNTY CLERK 04/05/2018 09:59 AM INDEX NO. 805435/2018 NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 04/05/2018 4. LENDER'S GENERAL POW ERS Lender may takeany ofthe followingactionsat anytime,without notice,without Guarantor'sconsent,and without making demand upon Guarantor; A Modify the termsofthe Note or anyother Loan Docurnentexceptto increasethe amounts due underthe Note; B Refrain from takingany actionon the Note,the Collateral, or any guarantee; C. Release any Borrower or any guarantorof the Note; D. Compromise or settle with the Borrower or anyguarantorofthe Note; E. Substituteor release any of whether the Collateral, or notLender receivesanythingin return; F. Forecloseupon or otherwiseobtain,and disposeof,any Collateralat public or without sale, with or private advertisement; G. Bid orbuy at anysale ofCollateralby Lender or anyother at any lienholder, priceLender chooses; and H. Exerciseany rightsit has, including thosein the Noteand otherLoan Documents. These actionswillnot releaseorreduce the obligations ofGuarantor or createany or rights claimsagainstLender. 5. FEDERAL LAW: When SBA the Note is the holder, and thisGuarantee wii)be construedand enforcedunder federallaw,includingSBA regulations. Lender or SBA may use state or localprocedures forfilingpapers,recordingdocuments, giving notice, foreclosing and liens, other purposes. By using such procedures,SBA does notwaive any federalimmunity from stateor localcontrol, penalty,tax,or liability. As to this Guarantee, Guarantor may not claim or assert any local law or state againstSBA to denyany obligation,defeatany claim ofSBA, or preemptfederallaw. 6. R1GHTS, NOTICES, AND DEFENSES THAT GUARANTOR WAIVES: To the extentpermittedby law, A. Guarantor waives allrightsto: 1) Require presentment, or demand protest, upon Borrower; 2) Redeem any Collateralbeforeor afterLender disposesofit; 3) Have any dispositionof Collateral advertised;and 4) Require a valuationof before Collateral or afterLender disposesof it B. Guarantor waives any noticeof: 1) Any defaultunder the Note; 2) Presentment,dishonor, or demand; protest, 3) Execution of the Note; 4) Any actionor inactionon the Noteor Collateral, such as disbursements, payment, nonpayment, acceleration, intentto assignment, accelerate, collection and incurring activity, enforcement expenses; 5) Any change in the financial conditionor businessoperationsof Borrower or anyguarantor; 6) Any changes in the terms of the Noteor otherLoan Documents, except in the amounts increases due under the Note; and 7) The time or placeofany sale or other dispositionof Collateral: C Guarantor waives defenses based upon anyclaim that: I) Lender failedto obtainanyguarantee; 2) Lender failedto obtain, perfect,or maintain a securityinterest in any propertyofferedor takenas Collateral; 3) Lender or othersimproperly valued orinspectedthe Collateral; 4) The Collateralchanged in value,or wasneglected, destroyed, lost, or underinsured; SBA Form 148(10/98) Previouseditions obsolete Page2/5 True Copy: UCC Non-Authoritative Copy FILED: ERIE COUNTY CLERK 04/05/2018 09:59 AM INDEX NO. 805435/2018 NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 04/05/2018 5) Lender impaired the Cohateral; 6) Lander did of not dispose any ofthe Cohateral; ?) Lender did not conducta commercially reasonablesale; 8) Lender did notobtainthe fair market value ofthe Collateral; of' 9) Lender did notmake or perfect a claimupon the deathor disability of Borrower or anyguarantorof the Note; 10) The financialconditionof Borrower or anyguarantorwas overstatedor has adversely changed; 1 l) Lender made errors or omissions inLoan Documents or administration ofthe Loan; I2) Lender did notseek payment from the Borrower,any otherguarantors,or anyCollateralbeforedemanding payment from Guarantor: 13) Lender impaired Guarantor'ssuretyshiprights; I4) Lender modified the Noteterms, otherthanto increaseamounts due under the Note.IfLender modifies the Note to increasethe amountsdue under the NotewithoutGuarantor's consent,Guarantor willnot be liable forthe increasedamounts and relatedinterest and expenses,but remains for liable allother amounts; 15) Borrower has avoided on the Note; liability or 16) Lender has takenan actionallowed under the Note,thisGuarantee,or otherLoan Documents. 7. DUTIES AS TO COLLATERAL: Guarantor will preservethe Collateral pledged by Guarantorto securethisGuarantee. Lender has no dutyto preserveor dispose ofany Collateral. 8. SUCCESSORS AND ASSIGNS: Under thisGuarantee, Guarantor includesheirsand successors, and Lender includesits successors and assigns. 9. GENERAL PROVISIONS: A. ENFORCEMENT EXPENSES. Guarantor promises to payallexpenses Lender incursto enforce thisGuarantee, including,butnot limited fees and costs. to, attorney's B. SBA NOT A CO-GUARANTOR. Guarantor's will liability continueeven ifSBA pays Lender. SBA is nota co- guarantorwith Guarantor. Guarantor has no right ofcontribution from SBA. C. SUBROGATION RJGHTS. Guarantor has no subrogationrights or the Collateral as to the Note untilthe Noteis paid in full. D. JOINT AND SEVERAL LIABILITY. Allindividualsand entities signing as Guarantorare jointly and severally liable. E. DOCUMENT SIGNING. Guarantor must signalldocuments necessaryat any timeto comply with the Loan Documents and to enableLender to acquire, perfect,or maintain Lender's lienson Collateral. F. FINANCIAL STATEMENTS. Guarantor must giveLender financial statementsas Lender requires. G. LENDER'S RIGHTS CUMULATIVE, NOT WAIVED. Lender may exerciseanyof its rights separatelyor together,as many times as it chooses. Lender may delay or forgoenforcing any ofits rights withoutlosingor impairing any ofthem. H. ORAL STATEMENTS NOT BINDING. Guarantormay not use an oralstatementto contradict or alter the written of the Noteor thisGuarantee,or to raise a defenseto this Guarantee. I. SEVERABJLITY. lfany partof this Guarantee is foundto be unenforceable, allotherpartswill remain in effect. .I. J. CONSIDERATION. The considerationforthis Guaranteeis theLoan or anyaccommodation by Lender as to the Loan. SBA Form 148(10/98) Previouseditions obsolete. Page3/5 True Copy: UCC Non-Authoritative Copy FILED: ERIE COUNTY CLERK 04/05/2018 09:59 AM INDEX NO. 805435/2018 NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 04/05/2018 10. STATE-SPEClFIC PROVlSIONS: I The Loan securedby thislienwas made under a United States Small Business Administration (SBA) nationwide program which dollars uses tax to assist small businessowners. )fthe UnitedStatesis seekingto enforce thisdocurnent, then underSBA regulations: of' a) When SBA is the holder of the Note, thisdocument and alldocuments evidencingor securingthisLoan willbe construed in accordancewithfederallaw. b) Lender or SBA may use localor state procedures forpurposessuch as filing papers, recordingdocuments, giving notice,foreclosing and other (;ens, purposes By usingthese procedures,SBA does notwaive any federalimmunity form localor state control. penalry,taxor liability. No Bonower or Guarantor may claim or assert against SBA any localor statelaw to denyany obligationofBorrower, or defeatany claimof SBA withrespect to this Loan. Any clauseinthisdocument requiringarbitration is not enforceable when SBA of the Note is the holder secured by this Previous eChtionsobsolete SBA Form i 48 (I $98) Page4/5 FILED: ERIE COUNTY CLERK 04/05/2018 09:59 AM INDEX NO. 805435/2018 NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 04/05/2018 GUARANTOR ACKNOWLEDGMENT OF TERMS. Guarantor acknowledges that Guaramer has read and understands the significance ofall termsof the Note and this Guarantee, all including waivers 12. GUARANTOR NAME(S) AND SIGNATURE(S); By signingbelow, each individual or entity becomes obligated as Guarantorunder thisGuarantee. ! Craig A. Pa ke STATE OF NEW YORK ) ) ss . COUNTY OF MONROE ) On the 16th dayof November, in the year 2011, before a Notary me, the undersigned, Public said State, in and for personallyappearedCraig A.Papke, personallyknown to me or proved to me on the evidence basis of satisfactory to be the individual whose name is subscribed to the written instrumentand acknowledged to me that she executed the same in her capacity, and thatby her signature on the instrument, the individual, or the person upon behalf ofwhich the individualacted,executedthe instrument. Public GERAROG ANTETOMASO Notary Public,State of New York No 02AN4923209 Qualified in Monroe County/c: Cornmission ExparesFeb 16. . SBA Form 14S00/98)Previouseditionsobsolete. Page$/S True Copy: UCC Non-Authoritative Copy FILED: ERIE COUNTY CLERK 04/05/2018 09:59 AM INDEX NO. 805435/2018 NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 04/05/2018 FILED: ERIE COUNTY CLERK 04/05/2018 09:59 AM INDEX NO. 805435/2018 NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 04/05/2018 5 .1 smal ' Liutmecs .tdmmbauhou . I U.S. Small Business Administration 1 I ~ t I UNCONDITIONALGUARANTEE ® Q SBA Loan 0 02 SBA Loan Name CPAPKE Corp. Guarantor Craic A. Papke Borrower CPAPKE CORP. . . . .. . . M&T'I' Bank Lender ' Date Auc:ust ~, ' 203 7 ' Note Amount s75, 000. 00 1. GUARANTEE: Guarantor unconditionallyguarantees payment to Lender ofallamounts owing underthe Note. ThisGuarantee remains in effect untilthe Note is paid in fullGuarantor must allamounts due under theNote when Lender makes written pay demand upon Guarantor. Lender is notrequiredto seekpayment from any other sourcebefore demanding payment from Guarantor. 2. NOTE: "Note" of' The is the proinissory note dated August , 2017 in theprincipalamount of Sevent y-Five Thousand Dollars and Zero Cents from Borrower 10 Lender. Itincludesany assumption, renewal, or substitution, replacementof the Note,and multiple notes undera lineofcredit. 3. DEFINITIONS: "Collateral" means anyproperty taken for as security payment of the Noteor any guaranteeof the Note. "Loan" means theloan evidenced by theNote. Documents" "Loan Documents means the documents relatedtothe Loan signed by Borrower, Guarantor or anyother or guarantor, anyone who pledges Collateral "SBA" means the SmallBusiness Administration,an Agency ofthe United Statesof America. SBA Form 148 (10/98) Previouseditions obsolele PageI/5 True Copy: UCC Non-Authoritative Copy FILED: ERIE COUNTY CLERK 04/05/2018 09:59 AM INDEX NO. 805435/2018 NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 04/05/2018 4 L ENDER 6 GENERA L POWFRS Lender ma) takeam of thefollmvingactionsat anytirne.withour notice,withoutGuarantor's consent, and without making demand upon Guarantor A Modify the .s4odil) terms of theNme or anyother Loan Document exceptto increasethe amounts due under the Note; Refrainfrom lakingany actionon the Note,the Collateral.or anyguaramee; C. Release any Borrower or anyguarantor ofthe Note; D Compromise or settle whh theBorrower or any guarantorof the Note: E Substituteor releaseanyof the Collateral. whether or notLender receivesanything in return; F Forecloseupon or otherwise obtain,and dispose of,any Collateral at publicor private sale,with orwithout advertisement; G Bid or buy at anysale ofCollateral by Lender or anyother at any lienholder, price Lender chooses;and Exerciseany rightsit has. including those in the Noteand otherLoan Documents. These actionswillnot releaseor reduce of the obligations Guarantor or createany rightsor claimsagainstLender. 5 FEDERAL LA W When SBA is theholder,the Noteand thisGuarantee willbe construed and enforced under federallaw, includingSBA regulations.Lender or SBA may use state or localprocedures for papers, filing recording documents, giving notice. foreclosingliens.and otherpurposes. By using suchprocedures. SBA does notwaive any federalimmunity from stateor localcontrol,penalty.tax,or liability. As tothisGuarantee, Guarantor may not claimor assertany localor statelaw againstSBA to deny any defeat obligation, any claim ofSBA. orpreempt federallaw 6 R[GHTS, NOT[CES. AND DEFENSES THAT GUARANTOR WAlVES: Nt'iNC; GUA RANTY (Personal) New York GI ARAN1OR Crag_A Pa e ___ __ IName 2.61.StafTordWan Rochester_NY I¾N ResidenceAddress ' BORROW ER CPAPKE COHl'. Name 2M Wffçrd Way, Rochester, NY M620 Address Mk.'I' BANK M&T Bank, One M&T Plan.Bu(Talo. New York Omce of Genem( Counsel 14203 Attention: 1. Guaranty. Guarantor,mtending to be Icgalh' bound. legally hereby guarantees the full unconditionally and prompt payment and perforrnance ofany and ot' ol' allof Barrower 0 Obligations (as delined below) to the Bankwhen due, whetherat stated maturity.by acceleration orntherwise. As used in this ()bligations" '(lhligations" Guaraniy.the term shallmean any and all indebtedness obligations. and otherhabihticsofHorrower to the Banknow or hereafter ' existme.of every kindand natureand allaccrued and ta interest thereon and allExpenses(as definedhelow) includingwithoutlimitation. whether such obliganons.indebtednessand other liabilities (s)aredirect liquidated. contingent. unliquidated. secured.unsecured.matured or unmatured: arc (ii) pursuantto a guarantyor suretyin favorof theBank: were (iii) contracted originally with the Bank orwith another party oncluding obligations under a guaranty or surely originally of such other pai1y); (iv) in favor are contracted by Borrower with alone or jointly one or more other (v) are or are not evidenced parties. by a writing. (vi)are renewed. replaced.modilledor extended: are periodically and (vii) extinguished and subsequentlyreincurredorreduced and thereafter increased Guaramor we pay orperform hisor her obbgationsunderthisGuaranty upon of' of' demand. ThisGuaranty is and is intended to be a continuing guarantyofpayment (not of collection) the Obligadons of (irrespectivethe aggregate amount thereofand w heiher or not the Obligations E fromtimeto time exceeds the amount of this if limited). ~ independent IIP Guaranty. Mal ~ and of, in addition withoutmodification le.and doesnot impairor in ¹P' affect. otherguaranty.endorsement. orotheragreement in connectionwith the any way any Obligations.orin conneenon withany other or indebtedness to liability theBank or collateral heldby the Bank thereforor withrespectthereto. whether ornot furnishedby Guarantor. Guarantorunderstandsthatthe Bank can bringan actionunder thisGuaranny withoutbeing requiredto exhaustotherremedies or demand paymentfirst from other parties (b) Guarantor acknowledges thereceiptofvaluableconsiderationforthis Guaranty and acknowledges thatthe Bank on is relying this in making a accommodation financial to Borrower. whether a commitment to lend. extension. modificationor replacement of,or Guaranty forbearance ~, withL respect — ll ofv another cancellation to. any Obligation. L . — L--- purchase guaranty, -c'Tl of Borrower's — — L-- ..— i..-L1- --- ' — J ~' consideration. assets, or other valuable 2. Continuing, A bsolute,Unconditional. This Guaranty is absolute. irrevocable. continuing.unconditionaland generalwithout any This Guarantyis unlimited in amountunless an amountis inserted in the following blank. Only if an amount this Guaranty is so inserted, ol' is limited inamount to ( l) 5 of the principal amount of plus the Obligations (2) in the share (i.e., a proportionate ol' same proportionas the amount bears to the total in (1) above principal amount of of the Obligations) allaccruedand unpaid premiums interest. and Expenses (as defined below) with incurred respectto the Obligations and (3) all of the Expensesincurred with respect to this Guaranty (collectively. the "GuaranteedArnount"). 3. Guarantor's Waivers diAuthorizations. (a) Guarantor'sobligationsshallnot be released, impaired or affectedinany way includingby any of the all following. ofwhich Guarantorhereby waives any bankruptcy, (i) reorganization or insolvency under or that of any other party. or by any action any law of Borrower of a trusteein such new agreements or obligationsof Borrower ul' or other withthe an>' adjustment. any proceeding;(ii)any ol' any party Bank; (iii) any compromise orreleaseof any Obligationsof Borrower.by the Bank or any otherparty:the existenceor nonexistence or orderof any filings. exchanges.releases. impairment or sale of. or failure to perfect or continuethe perfection of a security interest in any collateral forthe Obligations, (iv)any liiiture ofGuarantor to receivenoticeof any intendeddispositionofsuch collateral: (v) any fictitiousness. incorrectness, invalidityor for unenforceability. instrument any reason. of any or otheragreementwhich may evidence any Obligation: (vi) extension. any composition, stay or relief other statutory grantedtoBorrower including.withoutlimitation. the expiration of lhe period ofany statute of limitations withrespecttoany lawsuitor otherlegalproceedingagainstBorrower or any personin anywav related or to the Obligations a part thereofor any collateral therefor; (vii) any change inform oforganization.name, membership orownership ofBorrower orGuarantor:(viii) any refusal or failure ofthe Bank orany other person to the date hereof prior or hereafter to grantany additional accommodation loan or other credit to Borroweror the Bank'sorany other ol'