exv10w9






Exhibit 10.9








Payments
as of: June 8, 2007

504 Prepayment | Options | Help | Contact Us | Loaoff          Customer Service: 800-225-4285




Loan Detail



Status
of Portfolio • Status of Portfolio — NonCurrent • Application of Funds  • Loans with no ACH bank

45 Days Delinquent • 65 Days Default
• Payout Statement • Funding • Other Reports • 1098/1099













	 	 	 
	U.S.
Small Business Administration

	 	






NOTE (CDC/504 Loans)



SBA Loan Number 7913774010




SBA
Loan Name PLANET BEACH FRANCHISING CORP.




Date May 03, 2007



Loan Amount $638,000.00




	 	 	 
	Borrower PLANET BEACH FRANCHISING CORP.


	 
	 	 
	Operating Company

	 	PLANET BEACH FRANCHISING CORP.
	 
	 	 
	CDC 06-017 NEW ORLEANS REGIONAL BUSINESS LOAN CORPORATION






	 	 	 	 	 	 	 	 	 
	Funding Date

	 	June 13, 2007
	 	*Interest Rate
	 	 	5.78856%	
	First Payment Due

	 	July 01, 2007
	 	*P&l Amount
	 		$4,484.72	 
	Note Maturity Date

	 	June 01, 2027
	 	*Monthly Payment
	 		$5,222.68	 
	 

	 	 	 	(* blank at signing)	 	 	 	 






1. PROMISE TO PAY




2. DEFINITIONS




3. DEBENTURE & NOTE TERMS




Date of
SBA Approval: 10/08/2004




	 	 	 	 	 	 	 	 	 	 
	 	 	(A) Debenture	 	(B) Note(or lease)
	A. Principal Amount
	 	$	638,000.00	 	 	$	638,000.00	 
	B. Date
	 	 	06/13/2007	 	 	 	05/03/2007	 
	C. Interest Rate
	 	 	5.71000	%	 	 	5.78856% 	**
	D. Maturity Date *
	 	 	06/01/2027	 	 	 	06/01/2027	 
	E. Payment Amount
	 	$	26,908.28	 	 	$	5,222.68 	***
	F. Payment Dates
	 	    Semi-Annual The first of each month

    December and June beginning July 01, 2007







 




			
	*	 	Item in Column A must be identical to item in Column B
	 
	**	 	The Note Rate is the interest rate charged on the Debenture, adjusted to reflect monthly
amortization
	 
	***	 	Servicing fees are added to monthly principal and interest payments to arrive at Borrower’s
total monthly payment.





4. PAYMENT




5. UNDERWRITERS’ FEE




6. DISBURSEMENT AUTHORIZATION




	 	 	 	 	 
	 	 	Dollar Amount
	(Complete all information: enter “N/A- if not applicable)	 	Please round to the nearest dollar
	Total Debenture Amount
	 	$	638,000.00	 
	A. The Underwriters’ Fee withheld prior to CSA receipt of funds
	 	$	2,552.00	y
	B. Amount received by CSA
	 	$	635,448.00	 











 









 






	 	 	 	 	 
	 	 	Dollar Amount
	(Complete all information: enter “N/A- if not applicable)	 	Please round to the nearest dollar
	C. The CSA will disburse the following:
	 	 	 	 
	(1) Net Debenture proceeds
	 	$	618,145.74	 
	(by wire transfer)
	 	 	 	 
	(2) Fees and closing costs
	 	$	16,408.26	 
	(Sum of (A) through (D) below)
	 	 	 	 
	(A) SBA Guarantee Fee
	 	$	3,090.72	 
	(0.005 times net debenture proceeds)
	 	 	 	 
	(B) Funding Fees
	 	$	1,545.36	 
	(0.0025 times net debenture proceeds)
	 	 	 	 
	(C) CDC Processing Fee
	 	$	9,272.18	 
	(0.015 times net debenture proceeds)
	 	 	 	 
	(D) CDC Closing Costs and Fees
	 	$	2,500.00	 
	(3) Balance, if any, to the Borrower
	 	$	894.00	 
	(4) Total CSA Disbursement
	 	$	635,448.00	 
	(Sum of (1), (2) and (3))
	 	 	 	 







7. WIRE TRANSFER INSTRUCTIONS




A. Recipient Bank for Wire of Net Debenture Proceeds




	 	 	 
	Name of Recipient Bank

	 	City and State
	CAPITAL ONE, N.A.

	 	NEW ORLEANS, LA
	Account Name

	 	Account Number
	PLANET BEACH FRANCHISING CORP.

	 	110010633065 
	 
	 	 
	Routing Symbol & Transaction Code (must be 9 digits)

	 	Attention of:
	065000090	 
	 






B. Correspondent Bank (complete the following only if recipient bank is not a Fed Wire Member)




	 	 	 
	Correspondent Bank Name

	 	City and State
	Account Name

	 	Account Number
	Routing Symbol & Transaction Code (must be 9 digits)

	 	Attention of:






 









 





Amortization Schedule — June 2007




	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Years	 	Per Month
	Borrower PLANET BEACH FRANCHISING CORP.

	 	Amount
	 	$	638,000.00	 	 	1 – 5
	 	$	5,222.68	 
	Issue Date Jun 13 2007

	 	Note Rate
	 	 	5.78856	%	 	6 – 10
	 	$	5,107.83	 
	CDC Number 06-017

	 	Escrow
	 	$	4,484.72	 	 	11 – 15
	 	$	4,956.46	 
	Loan Number 7913774010

	 	Term
	 	 	20 Years	 	 	16 – 20
	 	$	4,754.41	 






	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Month	 	No	 	Interest	 	Principal	 	Balance	 	SBA	 	CDC	 	CSA	 	Payment
	JUL 07
	 	 	001	 	 	$	1,846.55	 	 	$	2,638.17	 	 	$	635,361.83	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	AUG 07
	 	 	002	 	 	$	3,064.86	 	 	$	1,419.86	 	 	$	633,941.97	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	SEP 07
	 	 	003	 	 	$	3,058.01	 	 	$	1,426.71	 	 	$	632,515.26	 	 	$	153.12	*	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	OCT 07
	 	 	004	 	 	$	3,051.13	 	 	$	1,433.59	 	 	$	631,081.67	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	NOV 07
	 	 	005	 	 	$	3,044.21	 	 	$	1,440.51	 	 	$	629,641.16	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	DEC 07
	 	 	006	 	 	$	3,037.26	 	 	$	1,447.46	 	 	$	628,193.70	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	JAN 08
	 	 	007	 	 	$	3,030.28	 	 	$	1,454.44	 	 	$	626,739.26	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	FEB 08
	 	 	008	 	 	$	3,023.26	 	 	$	1,461.46	 	 	$	625,277.80	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	MAR 08
	 	 	009	 	 	$	3,016.22	 	 	$	1,468.50	 	 	$	623,809.30	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	APR 08
	 	 	010	 	 	$	3,009.13	 	 	$	1,475.59	 	 	$	622,333.71	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	MAY 08
	 	 	011	 	 	$	3,002.01	 	 	$	1,482.71	 	 	$	620,851.00	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	JUN 08
	 	 	012	 	 	$	2,994.86	 	 	$	1,489.86	 	 	$	619,361.14	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	JUL 08
	 	 	013	 	 	$	2,987.67	 	 	$	1,497.05	 	 	$	617,864.09	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	AUG 08
	 	 	014	 	 	$	2,980.45	 	 	$	1,504.27	 	 	$	616,359.82	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	SEP 08
	 	 	015	 	 	$	2,973.20	 	 	$	1,511.52	 	 	$	614,848.30	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	OCT 08
	 	 	016	 	 	$	2,965.91	 	 	$	1,518.81	 	 	$	613,329.49	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	NOV 08
	 	 	017	 	 	$	2,958.58	 	 	$	1,526.14	 	 	$	611,803.35	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	DEC 08
	 	 	018	 	 	$	2,951.22	 	 	$	1,533.50	 	 	$	610,269.85	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	JAN 09
	 	 	019	 	 	$	2,943.82	 	 	$	1,540.90	 	 	$	608,728.95	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	FEB 09
	 	 	020	 	 	$	2,936.39	 	 	$	1,548.33	 	 	$	607,180.62	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	MAR 09
	 	 	021	 	 	$	2,928.92	 	 	$	1,555.80	 	 	$	605,624.82	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	APR 09
	 	 	022	 	 	$	2,921.41	 	 	$	1,563.31	 	 	$	604,061.51	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	MAY 09
	 	 	023	 	 	$	2,913.87	 	 	$	1,570.85	 	 	$	602,490.66	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	JUN 09
	 	 	024	 	 	$	2,906.29	 	 	$	1,578.43	 	 	$	600,912.23	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	JUL 09
	 	 	025	 	 	$	2,898.68	 	 	$	1,586.04	 	 	$	599,326.19	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	AUG 09
	 	 	026	 	 	$	2,891.03	 	 	$	1,593.69	 	 	$	597,732.50	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	SEP 09
	 	 	027	 	 	$	2,883.34	 	 	$	1,601.38	 	 	$	596,131.12	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	OCT 09
	 	 	028	 	 	$	2,875.62	 	 	$	1,609.10	 	 	$	594,522.02	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	NOV 09
	 	 	029	 	 	$	2,867.86	 	 	$	1,616.86	 	 	$	592,905.16	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 






 









 





Amortization Schedule — 7913774010

June 2007




	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Month	 	No	 	interest	 	Principal	 	Balance	 	SBA	 	CDC	 	CSA	 	Payment
	DEC 09
	 	 	030	 	 	$	2,860.06	 	 	$	1,624.66	 	 	$	591,280.50	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	JAN 10
	 	 	031	 	 	$	2,852.22	 	 	$	1,632.50	 	 	$	589,648.00	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	FEB 10
	 	 	032	 	 	$	2,844.34	 	 	$	1,640.38	 	 	$	588,007.62	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	MAR 10
	 	 	033	 	 	$	2,836.43	 	 	$	1,648.29	 	 	$	586,359.33	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	APR 10
	 	 	034	 	 	$	2,828.48	 	 	$	1,656.24	 	 	$	584,703.09	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	MAY 10
	 	 	035	 	 	$	2,820.49	 	 	$	1,664.23	 	 	$	583,038.86	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	JUN 10
	 	 	036	 	 	$	2,812.46	 	 	$	1,672.26	 	 	$	581,366.60	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	JUL 10
	 	 	037	 	 	$	2,804.40	 	 	$	1,680.32	 	 	$	579,686.28	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	AUG 10
	 	 	038	 	 	$	2,796.29	 	 	$	1,688.43	 	 	$	577,997.85	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	SEP 10
	 	 	039	 	 	$	2,788.15	 	 	$	1,696.57	 	 	$	576,301.28	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	OCT 10
	 	 	040	 	 	$	2,779.96	 	 	$	1,704.76	 	 	$	574,596.52	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	NOV 10
	 	 	041	 	 	$	2,771.74	 	 	$	1,712.98	 	 	$	572,883.54	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	DEC 10
	 	 	042	 	 	$	2,763.48	 	 	$	1,721.24	 	 	$	571,162.30	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	JAN 11
	 	 	043	 	 	$	2,755.17	 	 	$	1,729.55	 	 	$	569,432.75	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	FEB 11
	 	 	044	 	 	$	2,746.83	 	 	$	1,737.89	 	 	$	567,694.86	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	MAR 11
	 	 	045	 	 	$	2,738.45	 	 	$	1,746.27	 	 	$	565,948.59	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	APR 11
	 	 	046	 	 	$	2,730.02	 	 	$	1,754.70	 	 	$	564,193.89	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	MAY 11
	 	 	047	 	 	$	2,721.56	 	 	$	1,763.16	 	 	$	562,430.73	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	JUN 11
	 	 	048	 	 	$	2,713.05	 	 	$	1,771.67	 	 	$	560,659.06	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	JUL 11
	 	 	049	 	 	$	2,704.51	 	 	$	1,780.21	 	 	$	558,878.85	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	AUG 11
	 	 	050	 	 	$	2,695.92	 	 	$	1,788.80	 	 	$	557,090.05	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	SEP 11
	 	 	051	 	 	$	2,687.29	 	 	$	1,797.43	 	 	$	555,292.62	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	OCT 11
	 	 	052	 	 	$	2,678.62	 	 	$	1,806.10	 	 	$	553,486.52	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	NOV 11
	 	 	053	 	 	$	2,669.91	 	 	$	1,814.81	 	 	$	551,671.71	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	DEC 11
	 	 	054	 	 	$	2,661.15	 	 	$	1,823.57	 	 	$	549,848.14	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	JAN 12
	 	 	055	 	 	$	2,652.36	 	 	$	1,832.36	 	 	$	548,015.78	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	FEB 12
	 	 	056	 	 	$	2,643.52	 	 	$	1,841.20	 	 	$	546,174.58	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	MAR 12
	 	 	057	 	 	$	2,634.64	 	 	$	1,850.08	 	 	$	544,324.50	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	APR 12
	 	 	058	 	 	$	2,625.71	 	 	$	1,859.01	 	 	$	542,465.49	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 






 









 





Amortization Schedule — 7913774010

June 2007




	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Month	 	No	 	interest	 	Principal	 	Balance	 	SBA	 	CDC	 	CSA	 	Payment
	MAY 12
	 	 	059	 	 	$	2,616.75	 	 	$	1,867.97	 	 	$	540,597.52	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	JUN 12
	 	 	060	 	 	$	2,607.73	 	 	$	1,876.99	 	 	$	538,720.53	 	 	$	153.12	 	 	$	531.67	 	 	$	53.17	 	 	$	5,222.68	 
	JUL 12
	 	 	061	 	 	$	2,598.68	 	 	$	1,886.04	 	 	$	536,834.49	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	AUG 12
	 	 	062	 	 	$	2,589.58	 	 	$	1,895.14	 	 	$	534,939.35	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	SEP 12
	 	 	063	 	 	$	2,580.44	 	 	$	1,904.28	 	 	$	533,035.07	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	OCT 12
	 	 	064	 	 	$	2,571.25	 	 	$	1,913.47	 	 	$	531,121.60	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	NOV 12
	 	 	065	 	 	$	2,562.02	 	 	$	1,922.70	 	 	$	529,198.90	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	DEC 12
	 	 	066	 	 	$	2,552.75	 	 	$	1,931.97	 	 	$	527,266.93	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	 
	JAN 13
	 	 	067	 	 	$	2,543.43	 	 	$	1,941.29	 	 	$	525,325.64	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	FEB 13
	 	 	068	 	 	$	2,534.07	 	 	$	1,950.65	 	 	$	523,374.99	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	MAR 13
	 	 	069	 	 	$	2,524.66	 	 	$	1,960.06	 	 	$	521,414.93	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	APR 13
	 	 	070	 	 	$	2,515.20	 	 	$	1,969.52	 	 	$	519,445.41	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	MAY 13
	 	 	071	 	 	$	2,505.70	 	 	$	1,979.02	 	 	$	517,466.39	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	JUN 13
	 	 	072	 	 	$	2,496.15	 	 	$	1,988.57	 	 	$	515,477.82	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	JUL 13
	 	 	073	 	 	$	2,486.56	 	 	$	1,998.16	 	 	$	513,479.66	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	AUG 13
	 	 	074	 	 	$	2,476.92	 	 	$	2,007.80	 	 	$	511,471.86	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	SEP 13
	 	 	075	 	 	$	2,467.24	 	 	$	2,017.48	 	 	$	509,454.38	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	OCT 13
	 	 	076	 	 	$	2,457.51	 	 	$	2,027.21	 	 	$	507,427.17	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	NOV 13
	 	 	077	 	 	$	2,447.73	 	 	$	2,036.99	 	 	$	505,390.18	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	DEC 13
	 	 	078	 	 	$	2,437.90	 	 	$	2,046.82	 	 	$	503,343.36	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	 
	JAN 14
	 	 	079	 	 	$	2,428.03	 	 	$	2,056.69	 	 	$	501,286.67	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	FEB 14
	 	 	080	 	 	$	2,418.11	 	 	$	2,066.61	 	 	$	499,220.06	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	MAR 14
	 	 	081	 	 	$	2,408.14	 	 	$	2,076.58	 	 	$	497,143.48	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	APR 14
	 	 	082	 	 	$	2,398.12	 	 	$	2,086.60	 	 	$	495,056.88	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	MAY 14
	 	 	083	 	 	$	2,388.06	 	 	$	2,096.66	 	 	$	492,960.22	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	JUN 14
	 	 	084	 	 	$	2,377.94	 	 	$	2,106.78	 	 	$	490,853.44	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	JUL 14
	 	 	085	 	 	$	2,367.78	 	 	$	2,116.94	 	 	$	488,736.50	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	AUG 14
	 	 	086	 	 	$	2,357.57	 	 	$	2,127.15	 	 	$	486,609.35	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	SEP 14
	 	 	087	 	 	$	2,347.31	 	 	$	2,137.41	 	 	$	484,471.94	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 






 









 





Amortization Schedule — 7913774010

June 2007




	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Month	 	No	 	interest	 	Principal	 	Balance	 	SBA	 	CDC	 	CSA	 	Payment
	OCT 14
	 	 	088	 	 	$	2,337.00	 	 	$	2,147.72	 	 	$	482,324.22	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	NOV 14
	 	 	089	 	 	$	2,326.64	 	 	$	2,158.08	 	 	$	480,166.14	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	DEC 14
	 	 	090	 	 	$	2,316.23	 	 	$	2,168.49	 	 	$	477,997.65	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	JAN 15
	 	 	091	 	 	$	2,305.77	 	 	$	2,178.95	 	 	$	475,818.70	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	FEB 15
	 	 	092	 	 	$	2,295.25	 	 	$	2,189.47	 	 	$	473,629.23	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	MAR 15
	 	 	093	 	 	$	2,284.69	 	 	$	2,200.03	 	 	$	471,429.20	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	APR 15
	 	 	094	 	 	$	2,274.08	 	 	$	2,210.64	 	 	$	469,218.56	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	MAY 15
	 	 	095	 	 	$	2,263.42	 	 	$	2,221.30	 	 	$	466,997.26	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	JUN 15
	 	 	096	 	 	$	2,252.70	 	 	$	2,232.02	 	 	$	464,765.24	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	JUL 15
	 	 	097	 	 	$	2,241.93	 	 	$	2,242.79	 	 	$	462,522.45	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	AUG 15
	 	 	098	 	 	$	2,231.12	 	 	$	2,253.60	 	 	$	460,268.85	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	SEP 15
	 	 	099	 	 	$	2,220.24	 	 	$	2,264.48	 	 	$	458,004.37	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	OCT 15
	 	 	100	 	 	$	2,209.32	 	 	$	2,275.40	 	 	$	455,728.97	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	NOV 15
	 	 	101	 	 	$	2,198.35	 	 	$	2,286.37	 	 	$	453,442.60	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	DEC 15
	 	 	102	 	 	$	2,187.32	 	 	$	2,297.40	 	 	$	451,145.20	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	JAN 16
	 	 	103	 	 	$	2,176.23	 	 	$	2,308.49	 	 	$	448,836.71	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	FEB 16
	 	 	104	 	 	$	2,165.10	 	 	$	2,319.62	 	 	$	446,517.09	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	MAR 16
	 	 	105	 	 	$	2,153.91	 	 	$	2,330.81	 	 	$	444,186.28	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	APR 16
	 	 	106	 	 	$	2,142.67	 	 	$	2,342.05	 	 	$	441,844.23	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	MAY 16
	 	 	107	 	 	$	2,131.37	 	 	$	2,353.35	 	 	$	439,490.88	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	JUN 16
	 	 	108	 	 	$	2,120.02	 	 	$	2,364.70	 	 	$	437,126.18	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	JUL 16
	 	 	109	 	 	$	2,108.61	 	 	$	2,376.11	 	 	$	434,750.07	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	AUG 16
	 	 	110	 	 	$	2,097.15	 	 	$	2,387.57	 	 	$	432,362.50	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	SEP 16
	 	 	111	 	 	$	2,085.63	 	 	$	2,399.09	 	 	$	429,963.41	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	OCT 16
	 	 	112	 	 	$	2,074.06	 	 	$	2,410.66	 	 	$	427,552.75	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	NOV 16
	 	 	113	 	 	$	2,062.43	 	 	$	2,422.29	 	 	$	425,130.46	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	DEC 16
	 	 	114	 	 	$	2,050.74	 	 	$	2,433.98	 	 	$	422,696.48	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	JAN 17
	 	 	115	 	 	$	2,039.00	 	 	$	2,445.72	 	 	$	420,250.76	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	FEB 17
	 	 	116	 	 	$	2,027.21	 	 	$	2,457.51	 	 	$	417,793.25	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 






 









 





Amortization Schedule — 7913774010

June 2007




	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Month	 	No	 	Interest	 	Principal	 	Balance	 	SBA	 	CDC	 	CSA	 	Payment
	MAR 17
	 	 	117	 	 	$	2,015.35	 	 	$	2,469.37	 	 	$	415,323.88	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	APR 17
	 	 	118	 	 	$	2,003.44	 	 	$	2,481.28	 	 	$	412,842.60	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	MAY 17
	 	 	119	 	 	$	1,991.47	 	 	$	2,493.25	 	 	$	410,349.35	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	JUN 17
	 	 	120	 	 	$	1,979.44	 	 	$	2,505.28	 	 	$	407,844.07	 	 	$	129.29	 	 	$	448.93	 	 	$	44.89	 	 	$	5,107.83	 
	JUL 17
	 	 	121	 	 	$	1,967.36	 	 	$	2,517.36	 	 	$	405,326.71	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	AUG 17
	 	 	122	 	 	$	1,955.21	 	 	$	2,529.51	 	 	$	402,797.20	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	SEP 17
	 	 	123	 	 	$	1,943.01	 	 	$	2,541.71	 	 	$	400,255.49	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	OCT 17
	 	 	124	 	 	$	1,930.75	 	 	$	2,553.97	 	 	$	397,701.52	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	NOV 17
	 	 	125	 	 	$	1,918.43	 	 	$	2,566.29	 	 	$	395,135.23	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	DEC 17
	 	 	126	 	 	$	1,906.05	 	 	$	2,578.67	 	 	$	392,556.56	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	JAN 18
	 	 	127	 	 	$	1,893.61	 	 	$	2,591.11	 	 	$	389,965.45	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	FEB 18
	 	 	128	 	 	$	1,881.12	 	 	$	2,603.60	 	 	$	387,361.85	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	MAR 18
	 	 	129	 	 	$	1,868.56	 	 	$	2,616.16	 	 	$	384,745.69	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	APR 18
	 	 	130	 	 	$	1,855.94	 	 	$	2,628.78	 	 	$	382,116.91	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	MAY 18
	 	 	131	 	 	$	1,843.26	 	 	$	2,641.46	 	 	$	379,475.45	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	JUN 18
	 	 	132	 	 	$	1,830.51	 	 	$	2,654.21	 	 	$	376,821.24	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	JUL 18
	 	 	133	 	 	$	1,817.71	 	 	$	2,667.01	 	 	$	374,154.23	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	AUG 18
	 	 	134	 	 	$	1,804.85	 	 	$	2,679.87	 	 	$	371,474.36	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	SEP 18
	 	 	135	 	 	$	1,791.92	 	 	$	2,692.80	 	 	$	368,781.56	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	OCT 18
	 	 	136	 	 	$	1,778.93	 	 	$	2,705.79	 	 	$	366,075.77	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	NOV 18
	 	 	137	 	 	$	1,765.88	 	 	$	2,718.84	 	 	$	363,356.93	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	DEC 18
	 	 	138	 	 	$	1,752.76	 	 	$	2,731.96	 	 	$	360,624.97	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	JAN 19
	 	 	139	 	 	$	1,739.58	 	 	$	2,745.14	 	 	$	357,879.83	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	FEB 19
	 	 	140	 	 	$	1,726.34	 	 	$	2,758.38	 	 	$	355,121.45	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	MAR 19
	 	 	141	 	 	$	1,713.03	 	 	$	2,771.69	 	 	$	352,349.76	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	APR 19
	 	 	142	 	 	$	1,699.66	 	 	$	2,785.06	 	 	$	349,564.70	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	MAY 19
	 	 	143	 	 	$	1,686.23	 	 	$	2,798.49	 	 	$	346,766.21	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	JUN 19
	 	 	144	 	 	$	1,672.73	 	 	$	2,811.99	 	 	$	343,954.22	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	JUL 19
	 	 	145	 	 	$	1,659.17	 	 	$	2,825.55	 	 	$	341,128.67	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 






 









 





Amortization Schedule — 7913774010

June 2007




	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Month	 	No	 	interest	 	Principal	 	Balance	 	SBA	 	CDC	 	CSA	 	Payment
	AUG 19
	 	 	146	 	 	$	1,645.54	 	 	$	2,839.18	 	 	$	338,289.49	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	SEP 19
	 	 	147	 	 	$	1,631.84	 	 	$	2,852.88	 	 	$	335,436.61	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	OCT 19
	 	 	148	 	 	$	1,618.08	 	 	$	2,866.64	 	 	$	332,569.97	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	NOV 19
	 	 	149	 	 	$	1,604.25	 	 	$	2,880.47	 	 	$	329,689.50	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	DEC 19
	 	 	150	 	 	$	1,590.36	 	 	$	2,894.36	 	 	$	326,795.14	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	JAN 20
	 	 	151	 	 	$	1,576.39	 	 	$	2,908.33	 	 	$	323,886.81	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	FEB 20
	 	 	152	 	 	$	1,562.37	 	 	$	2,922.35	 	 	$	320,964.46	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	MAR 20
	 	 	153	 	 	$	1,548.27	 	 	$	2,936.45	 	 	$	318,028.01	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	APR 20
	 	 	154	 	 	$	1,534.10	 	 	$	2,950.62	 	 	$	315,077.39	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	MAY 20
	 	 	155	 	 	$	1,519.87	 	 	$	2,964.85	 	 	$	312,112.54	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	JUN 20
	 	 	156	 	 	$	1,505.57	 	 	$	2,979.15	 	 	$	309,133.39	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	JUL 20
	 	 	157	 	 	$	1,491.20	 	 	$	2,993.52	 	 	$	306,139.87	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	AUG 20
	 	 	158	 	 	$	1,476.76	 	 	$	3,007.96	 	 	$	303,131.91	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	SEP 20
	 	 	159	 	 	$	1,462.25	 	 	$	3,022.47	 	 	$	300,109.44	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	OCT 20
	 	 	160	 	 	$	1,447.67	 	 	$	3,037.05	 	 	$	297,072.39	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	NOV 20
	 	 	161	 	 	$	1,433.02	 	 	$	3,051.70	 	 	$	294,020.69	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	DEC 20
	 	 	162	 	 	$	1,418.30	 	 	$	3,066.42	 	 	$	290,954.27	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	JAN 21
	 	 	163	 	 	$	1,403.51	 	 	$	3,081.21	 	 	$	287,873.06	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	FEB 21
	 	 	164	 	 	$	1,388.64	 	 	$	3,096.08	 	 	$	284,776.98	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	MAR 21
	 	 	165	 	 	$	1,373.71	 	 	$	3,111.01	 	 	$	281,665.97	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	APR 21
	 	 	166	 	 	$	1,358.70	 	 	$	3,126.02	 	 	$	278,539.95	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	MAY 21
	 	 	167	 	 	$	1,343.62	 	 	$	3,141.10	 	 	$	275,398.85	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	JUN 21
	 	 	168	 	 	$	1,328.47	 	 	$	3,156.25	 	 	$	272,242.60	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	JUL 21
	 	 	169	 	 	$	1,313.24	 	 	$	3,171.48	 	 	$	269,071.12	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	AUG 21
	 	 	170	 	 	$	1,297.95	 	 	$	3,186.77	 	 	$	265,884.35	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	SEP 21
	 	 	171	 	 	$	1,282.57	 	 	$	3,202.15	 	 	$	262,682.20	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	OCT 21
	 	 	172	 	 	$	1,267.13	 	 	$	3,217.59	 	 	$	259,464.61	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	NOV 21
	 	 	173	 	 	$	1,251.61	 	 	$	3,233.11	 	 	$	256,231.50	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	DEC 21
	 	 	174	 	 	$	1,236.01	 	 	$	3,248.71	 	 	$	252,982.79	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 






 









 





Amortization Schedule — 7913774010

June 2007




	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Month	 	No	 	interest	 	Principal	 	Balance	 	SBA	 	CDC	 	GSA	 	Payment
	JAN 22
	 	 	175	 	 	$	1,220.34	 	 	$	3,264.38	 	 	$	249,718.41	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	FEB 22
	 	 	176	 	 	$	1,204.59	 	 	$	3,280.13	 	 	$	246,438.28	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	MAR 22
	 	 	177	 	 	$	1,188.77	 	 	$	3,295.95	 	 	$	243,142.33	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	APR 22
	 	 	178	 	 	$	1,172.87	 	 	$	3,311.85	 	 	$	239,830.48	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	MAY 22
	 	 	179	 	 	$	1,156.89	 	 	$	3,327.83	 	 	$	236,502.65	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	JUN 22
	 	 	180	 	 	$	1,140.84	 	 	$	3,343.88	 	 	$	233,158.77	 	 	$	97.88	 	 	$	339.87	 	 	$	33.99	 	 	$	4,956.46	 
	JUL 22
	 	 	181	 	 	$	1,124.71	 	 	$	3,360.01	 	 	$	229,798.76	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	AUG 22
	 	 	182	 	 	$	1,108.50	 	 	$	3,376.22	 	 	$	226,422.54	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	SEP 22
	 	 	183	 	 	$	1,092.22	 	 	$	3,392.50	 	 	$	223,030.04	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	OCT 22
	 	 	184	 	 	$	1,075.85	 	 	$	3,408.87	 	 	$	219,621.17	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	NOV 22
	 	 	185	 	 	$	1,059.41	 	 	$	3,425.31	 	 	$	216,195.86	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	DEC 22
	 	 	186	 	 	$	1,042.89	 	 	$	3,441.83	 	 	$	212,754.03	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	JAN 23
	 	 	187	 	 	$	1,026.28	 	 	$	3,458.44	 	 	$	209,295.59	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	FEB 23
	 	 	188	 	 	$	1,009.60	 	 	$	3,475.12	 	 	$	205,820.47	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	MAR 23
	 	 	189	 	 	$	992.84	 	 	$	3,491.88	 	 	$	202,328.59	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	APR 23
	 	 	190	 	 	$	975.99	 	 	$	3,508.73	 	 	$	198,819.86	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	MAY 23
	 	 	191	 	 	$	959.07	 	 	$	3,525.65	 	 	$	195,294.21	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	JUN 23
	 	 	192	 	 	$	942.06	 	 	$	3,542.66	 	 	$	191,751.55	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	JUL 23
	 	 	193	 	 	$	924.97	 	 	$	3,559.75	 	 	$	188,191.80	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	AUG 23
	 	 	194	 	 	$	907.80	 	 	$	3,576.92	 	 	$	184,614.88	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	SEP 23
	 	 	195	 	 	$	890.55	 	 	$	3,594.17	 	 	$	181,020.71	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	OCT 23
	 	 	196	 	 	$	873.21	 	 	$	3,611.51	 	 	$	177,409.20	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	NOV 23
	 	 	197	 	 	$	855.79	 	 	$	3,628.93	 	 	$	173,780.27	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	DEC 23
	 	 	198	 	 	$	838.28	 	 	$	3,646.44	 	 	$	170,133.83	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	JAN 24
	 	 	199	 	 	$	820.69	 	 	$	3,664.03	 	 	$	166,469.80	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	FEB 24
	 	 	200	 	 	$	803.02	 	 	$	3,681.70	 	 	$	162,788.10	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	MAR 24
	 	 	201	 	 	$	785.26	 	 	$	3,699.46	 	 	$	159,088.64	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	APR 24
	 	 	202	 	 	$	767.41	 	 	$	3,717.31	 	 	$	155,371.33	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	MAY 24
	 	 	203	 	 	$	749.48	 	 	$	3,735.24	 	 	$	151,636.09	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 






 









 





Amortization Schedule — 7913774010

June 2007




	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Month	 	No	 	interest	 	Principal	 	Balance	 	SBA	 	CDC	 	CSA	 	Payment
	JUN 24
	 	 	204	 	 	$	731.46	 	 	$	3,753.26	 	 	$	147,882.83	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	JUL 24
	 	 	205	 	 	$	713.36	 	 	$	3,771.36	 	 	$	144,111.47	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	AUG 24
	 	 	206	 	 	$	695.16	 	 	$	3,789.56	 	 	$	140,321.91	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	SEP 24
	 	 	207	 	 	$	676.88	 	 	$	3,807.84	 	 	$	136,514.07	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	OCT 24
	 	 	208	 	 	$	658.52	 	 	$	3,826.20	 	 	$	132,687.87	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	NOV 24
	 	 	209	 	 	$	640.06	 	 	$	3,844.66	 	 	$	128,843.21	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	DEC 24
	 	 	210	 	 	$	621.51	 	 	$	3,863.21	 	 	$	124,980.00	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	JAN 25
	 	 	211	 	 	$	602.88	 	 	$	3,881.84	 	 	$	121,098.16	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	FEB 25
	 	 	212	 	 	$	584.15	 	 	$	3,900.57	 	 	$	117,197.59	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	MAR 25
	 	 	213	 	 	$	565.34	 	 	$	3,919.38	 	 	$	113,278.21	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	APR 25
	 	 	214	 	 	$	546.43	 	 	$	3,938.29	 	 	$	109,339.92	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	MAY 25
	 	 	215	 	 	$	527.43	 	 	$	3,957.29	 	 	$	105,382.63	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	JUN 25
	 	 	216	 	 	$	508.34	 	 	$	3,976.38	 	 	$	101,406.25	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	JUL 25
	 	 	217	 	 	$	489.16	 	 	$	3,995.56	 	 	$	97,410.69	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	AUG 25
	 	 	218	 	 	$	469.89	 	 	$	4,014.83	 	 	$	93,395.86	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	SEP 25
	 	 	219	 	 	$	450.52	 	 	$	4,034.20	 	 	$	89,361.66	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	OCT 25
	 	 	220	 	 	$	431.06	 	 	$	4,053.66	 	 	$	85,308.00	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	NOV 25
	 	 	221	 	 	$	411.51	 	 	$	4,073.21	 	 	$	81,234.79	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	DEC 25
	 	 	222	 	 	$	391.86	 	 	$	4,092.86	 	 	$	77,141.93	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	JAN 26
	 	 	223	 	 	$	372.12	 	 	$	4,112.60	 	 	$	73,029.33	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	FEB 26
	 	 	224	 	 	$	352.28	 	 	$	4,132.44	 	 	$	68,896.89	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	MAR 26
	 	 	225	 	 	$	332.34	 	 	$	4,152.38	 	 	$	64,744.51	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	APR 26
	 	 	226	 	 	$	312.31	 	 	$	4,172.41	 	 	$	60,572.10	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	MAY 26
	 	 	227	 	 	$	292.19	 	 	$	4,192.53	 	 	$	56,379.57	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	JUN 26
	 	 	228	 	 	$	271.96	 	 	$	4,212.76	 	 	$	52,166.81	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	JUL 26
	 	 	229	 	 	$	251.64	 	 	$	4,233.08	 	 	$	47,933.73	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	AUG 26
	 	 	230	 	 	$	231.22	 	 	$	4,253.50	 	 	$	43,680.23	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	SEP 26
	 	 	231	 	 	$	210.70	 	 	$	4,274.02	 	 	$	39,406.21	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	OCT 26
	 	 	232	 	 	$	190.09	 	 	$	4,294.63	 	 	$	35,111.58	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 






 









 





Amortization Schedule — 7913774010

June 2007




	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Month	 	No	 	Interest	 	Principal	 	Balance	 	SBA	 	CDC	 	CSA	 	Payment
	NOV 26
	 	 	233	 	 	$	169.37	 	 	$	4,315.35	 	 	$	30,796.23	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	DEC 26
	 	 	234	 	 	$	148.55	 	 	$	4,336.17	 	 	$	26,460.06	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	JAN 27
	 	 	235	 	 	$	127.64	 	 	$	4,357.08	 	 	$	22,102.98	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	FEB 27
	 	 	236	 	 	$	106.62	 	 	$	4,378.10	 	 	$	17,724.88	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	MAR 27
	 	 	237	 	 	$	85.50	 	 	$	4,399.22	 	 	$	13,325.66	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	APR 27
	 	 	238	 	 	$	64.28	 	 	$	4,420.44	 	 	$	8,905.22	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	MAY 27
	 	 	239	 	 	$	42.96	 	 	$	4,441.76	 	 	$	4,463.46	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	JUN 27
	 	 	240	 	 	$	21.53	 	 	$	4,463.19	 	 	$	0.27	 	 	$	55.96	 	 	$	194.30	 	 	$	19.43	 	 	$	4,754.41	 
	Totals:
	 	 	 	 	 	$	438,333.07	 	 	$	637,999.73	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 






 









 





	 	 	 
	

	 	U.S. Small Business
Administration


UNCONDITIONAL GUARANTEE






	 	 	 	 	 
	SBA Loan #

	 	79137740-10 	 	 
	 
	 	 	 	 
	SBA Loan Name

	 	Planet Beach Franchising Corp.	 	 
	 
	 	 	 	 
	Guarantor

	 	Richard L. Juka	 	 
	 
	 	 	 	 
	Borrower

	 	Planet Beach Franchising Corp.	 	 
	 
	 	 	 	 
	Lender

	 	New Orleans Regional Business Development Loan Corporation
	 	06-017 
	 
	 	 	 	 
	Date

	 	May 3, 2007 	 	 
	 
	 	 	 	 
	Note Amount

	 	$638,000.00 	 	 






1.
GUARANTEE:





Guarantor unconditionally guarantees payment to Lender of all amounts owing under the Note. This
Guarantee remains in effect until the Note is paid in full. Guarantor must pay all amounts due
under the Note when Lender makes written demand upon Guarantor. Lender is not required to seek
payment from any other source before demanding payment from Guarantor.



2. NOTE:





The “Note” is the promissory note dated May 3, 2007 in the principal amount of
Six Hundred Thirty-eight Thousand and no/100 Dollars,
from Borrower to Lender. It includes any assumption, renewal, substitution, or replacement of the
Note, and multiple notes under a line of credit.



3. DEFINITIONS:





“Collateral” means any property taken as security for payment of the Note or any guarantee of the
Note. 




“Loan” means the loan evidenced by the Note.




“Loan Documents” means the documents related to the Loan signed by Borrower, Guarantor or any other
guarantor, or anyone who pledges Collateral.




“SBA” means the Small Business Administration, an Agency of the United States of America.



			
	 	 	 
	SBA Form 148 (10-98) Previous editions obsolete
	 	Page 1/5






 









 






LENDER’S GENERAL POWERS:




Lender may take any of the following actions at any time, without notice, without Guarantor’s
consent, and without making demand upon Guarantor:




	 	A.	 	Modify the terms of the Note or any other Loan Document except to increase the amounts due under
the Note;
	 
	 	B.	 	Refrain from taking any action on the Note, the Collateral, or any guarantee;
	 
	 	C.	 	Release any Borrower or any guarantor of the Note;
	 
	 	D.	 	Compromise or settle with the Borrower or any guarantor of the Note;
	 
	 	E.	 	Substitute or release any of the Collateral, whether or not Lender receives anything in return;
	 
	 	F.	 	Foreclose upon or otherwise obtain, and dispose of, any Collateral at public or private sale,
with or without advertisement;
	 
	 	G.	 	Bid or buy at any sale of Collateral by Lender or any other lienholder, at any price Lender
chooses; and
	 
	 	H.	 	Exercise any rights it has, including those in the Note and other Loan Documents.






These actions will not release or reduce the obligations of Guarantor or create any rights or
claims against Lender.



5. FEDERAL LAW:





When SBA is the holder, the Note and this Guarantee will be construed and enforced under federal
law, including SBA regulations. Lender or SBA may use state or local procedures for filing papers,
recording documents, giving notice, foreclosing liens, and other purposes. By using such
procedures, SBA does not waive any federal immunity from state or local control, penalty, tax, or
liability. As to this Guarantee, Guarantor may not claim or assert any local or state law against
SBA to deny any obligation, defeat any claim of SBA, or preempt federal law.



6. RIGHTS, NOTICES, AND DEFENSES THAT GUARANTOR WAIVES:





To the extent permitted by law,




	 	A.	 	Guarantor waives all rights to:






	 	1)	 	Require presentment, protest, or demand upon Borrower;
	 
	 	2)	 	Redeem any Collateral before or after Lender disposes of it
	 
	 	3)	 	Have any disposition of Collateral advertised; and
	 
	 	4)	 	Require a valuation of Collateral before or after Lender disposes of it.






	 	B.	 	Guarantor waives any notice of:






	 	1)	 	Any default under the Note;
	 
	 	2)	 	Presentment, dishonor, protest, or demand;
	 
	 	3)	 	Execution of the Note;
	 
	 	4)	 	Any action or inaction on the Note or Collateral, such as disbursements, payment, nonpayment,
acceleration, intent to accelerate, assignment, collection activity, and incurring enforcement
expenses;
	 
	 	5)	 	Any change in the financial condition or business operations of Borrower or any guarantor;
	 
	 	6)	 	Any changes in the terms of the Note or other Loan Documents, except increases in the amounts
due under the Note; and
	 
	 	7)	 	The time or place of any sale or other disposition of Collateral.






	 	C.	 	Guarantor waives defenses based upon any claim that:






	 	1)	 	Lender failed to obtain any guarantee;
	 
	 	2)	 	Lender failed to obtain, perfect, or maintain a security interest in any property offered or
taken as Collateral;
	 
	 	3)	 	Lender or others improperly valued or inspected the Collateral;
	 
	 	4)	 	The Collateral changed in value, or was neglected, lost, destroyed, or underinsured;





			
	 	 	 
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	 	5)	 	Lender impaired the Collate,—,
	 
	 	6)	 	Lender did not dispose of any of the Collateral;
	 
	 	7)	 	Lender did not conduct a commercially reasonable sale;
	 
	 	8)	 	Lender did not obtain the fair market value of the Collateral;
	 
	 	9)	 	Lender did not make or perfect a claim upon the death or disability of Borrower or any guarantor
of the Note;
	 
	 	10)	 	The financial condition of Borrower or any guarantor was overstated or has adversely changed;
	 
	 	11)	 	Lender made errors or omissions in Loan Documents or administration of the Loan;
	 
	 	12)	 	Lender did not seek payment from the Borrower, any other guarantors, or any Collateral before
demanding payment from Guarantor;
	 
	 	13)	 	Lender impaired Guarantor’s suretyship rights;
	 
	 	14)	 	Lender modified the Note terms, other than to increase amounts due under the Note. If Lender
modifies the Note to increase the amounts due under the Note without Guarantor’s consent, Guarantor
will not be liable for the increased amounts and related interest and expenses, but remains liable
for all other amounts;
	 
	 	15)	 	Borrower has avoided liability on the Note; or
	 
	 	16)	 	Lender has taken an action allowed under the Note, this Guarantee, or other Loan Documents.





7. DUTIES AS TO COLLATERAL:





Guarantor will preserve the Collateral pledged by Guarantor to secure this Guarantee. Lender has no
duty to preserve or dispose of any Collateral.



8. SUCCESSORS AND ASSIGNS:





Under this Guarantee, Guarantor includes heirs and successors, and Lender includes successors and
assigns.



9. GENERAL PROVISIONS:




	 	A.	 	ENFORCEMENT EXPENSES. Guarantor promises to pay all expenses Lender incurs to enforce this
Guarantee, including, but not limited to, attorney’s fees and costs.
	 
	 	B.	 	SBA NOT A CO-GUARANTOR. Guarantor’s liability will continue even if SBA pays Lender. SBA is not
a co-guarantor with Guarantor. Guarantor has no right of contribution from SBA.
	 
	 	C.	 	SUBROGATION RIGHTS. Guarantor has no subrogation rights as to the Note or the Collateral until
the Note is paid in full.
	 
	 	D.	 	JOINT AND SEVERAL LIABILITY. All individuals and entities signing as Guarantor are jointly and
severally liable.
	 
	 	E.	 	DOCUMENT SIGNING. Guarantor must sign all documents necessary at any time to comply with the
Loan Documents and to enable Lender to acquire, perfect, or maintain Lender’s liens on Collateral.
	 
	 	F.	 	FINANCIAL STATEMENTS. Guarantor must give Lender financial statements as Lender requires.
	 
	 	G.	 	LENDER’S RIGHTS CUMULATIVE, NOT WAIVED. Lender may exercise any of its rights separately or
together, as many times as it chooses. Lender may delay or forgo enforcing any of its rights
without losing or impairing any of them.
	 
	 	H.	 	ORAL STATEMENTS NOT BINDING. Guarantor may not use an oral statement to contradict or alter the
written terms of the Note or this Guarantee, or to raise a defense to this Guarantee.
	 
	 	I.	 	SEVERABILITY. If any part of this Guarantee is found to be unenforceable, all other parts will
remain in effect.
	 
	 	J.	 	CONSIDERATION. The consideration for this Guarantee is the Loan or any accommodation by Lender
as to the Loan.





			
	 	 	 
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10. STATE-SPECIFIC PROVISIONS:










NONE












			
	 	 	 
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11. GUARANTOR ACKNOWLEDGMENT._ TERMS.



Guarantor acknowledges that Guarantor has read and understands the significance of all terms of the
Note and this Guarantee, including all waivers.




12. GUARANTOR NAME(S) AND SIGNATURE(S):





By signing below, each individual or entity becomes obligated as Guarantor under this Guarantee.








	 
	/s/ Richard L. Juka

	 
	Richard L. Juka















ASSIGNMENT:




Lender assigns this Guarantee to SBA.



New Orleans Regional Business Development Loan Corporation 




	 	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Ted Ledet
	 	 
	 	Attest:
	 	/s/ Bill Pope
	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	 

	 	Ted Ledet, BRC Program Manager
	 	 	 	 	 	Bill Pope, Executive Director	 	 







			
	 	 	 
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Date: May 3, 2007





	 	 	 
	

	 	U.S. Small Business
Administration


UNCONDITIONAL GUARANTEE






	 	 	 	 	 
	SBA Loan #

	 	79137740-10 	 	 
	 
	 	 	 	 
	SBA Loan Name

	 	Planet each Franchising Corp.	 	 
	 
	 	 	 	 
	Guarantor

	 	Stephen P. Smith	 	 
	 
	 	 	 	 
	Borrower

	 	Planet Beach Franchising Corp.	 	 
	 
	 	 	 	 
	Lender

	 	New Orleans Regional Business Development Loan Corporation
	 	06-017 
	 
	 	 	 	 
	Date

	 	May 3, 2007 	 	 
	 
	 	 	 	 
	Note Amount

	 	$638,000.00 	 	 






1.
GUARANTEE:





Guarantor unconditionally guarantees payment to Lender of all amounts owing under the Note. This
Guarantee remains in effect until the Note is paid in full. Guarantor must pay all amounts due
under the Note when Lender makes written demand upon Guarantor. Lender is not required to seek
payment from any other source before demanding payment from Guarantor.



	 	 	 	 	 
	2. NOTE:	 		 	







The
“Note” is the promissory note dated May 3, 2007
________________ in the principal amount of Six Hundred Thirty-eight Thousand and no/100

Dollars,
from Borrower to Lender. It includes any assumption, renewal, substitution, or replacement of the
Note, and multiple notes under a line of credit.




3. DEFINITIONS:





“Collateral” means any property taken as security for payment of the Note or any guarantee of the
Note. 




“Loan” means the loan evidenced by the Note.




“Loan Documents” means the documents related to the Loan signed by Borrower, Guarantor or any other
guarantor, or anyone who pledges Collateral.




“SBA” means the Small Business Administration, an Agency of the United States of America.



			
	 	 	 
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4. LENDERS GENERAL POWERS:





Lender may take any of the following actions at any time, without notice, without Guarantor’s
consent, and without making demand upon Guarantor:




	 	A.	 	Modify the terms of the Note or any other Loan Document except to increase the amounts due under
the Note;
	 
	 	B.	 	Refrain from taking any action on the Note, the Collateral, or any guarantee;
	 
	 	C.	 	Release any Borrower or any guarantor of the Note;
	 
	 	D.	 	Compromise or settle with the Borrower or any guarantor of the Note;
	 
	 	E.	 	Substitute or release any of the Collateral, whether or not Lender receives anything in return;
	 
	 	F.	 	Foreclose upon or otherwise obtain, and dispose of, any Collateral at public or private sale,
with or without advertisement;
	 
	 	G.	 	Bid or buy at any sale of Collateral by Lender or any other lienholder, at any price Lender
chooses; and
	 
	 	H.	 	Exercise any rights it has, including those in the Note and other Loan Documents.






These actions will not release or reduce the obligations of Guarantor or create any rights or
claims against Lender.



5. FEDERAL LAW:





When SBA is the holder, the Note and this Guarantee will be construed and enforced under federal
law, including SBA regulations. Lender or SBA may use state or local procedures for filing papers,
recording documents, giving notice, foreclosing liens, and other purposes. By using such
procedures, SBA does not waive any federal immunity from state or local control, penalty, tax, or
liability. As to this Guarantee, Guarantor may not claim or assert any local or state law against
SBA to deny any obligation, defeat any claim of SBA, or preempt federal law.



6. RIGHTS, NOTICES, AND DEFENSES THAT GUARANTOR WAIVES:





To the extent permitted by law,




	 	A.	 	Guarantor waives all rights to:






	 	1)	 	Require presentment, protest, or demand upon Borrower;
	 
	 	2)	 	Redeem any Collateral before or after Lender disposes of it;
	 
	 	3)	 	Have any disposition of Collateral advertised; and
	 
	 	4)	 	Require a valuation of Collateral before or after Lender disposes of it.






	 	B.	 	Guarantor waives any notice of:






	 	1)	 	Any default under the Note;
	 
	 	2)	 	Presentment, dishonor, protest, or demand;
	 
	 	3)	 	Execution of the Note;
	 
	 	4)	 	Any action or inaction on the Note or Collateral, such as disbursements, payment, nonpayment,
acceleration, intent to accelerate, assignment, collection activity, and incurring enforcement
expenses;
	 
	 	5)	 	Any change in the financial condition or business operations of Borrower or any guarantor;
	 
	 	6)	 	Any changes in the terms of the Note or other Loan Documents, except increases in the amounts
due under the Note; and
	 
	 	7)	 	The time or place of any sale or other disposition of Collateral.






	 	C.	 	Guarantor waives defenses based upon any claim that:






	 	1)	 	Lender failed to obtain any guarantee;
	 
	 	2)	 	Lender failed to obtain, perfect, or maintain a security interest in any property offered or
taken as Collateral;
	 
	 	3)	 	Lender or others improperly valued or inspected the Collateral;
	 
	 	4)	 	The Collateral change in value, or was neglected, lost, destroyed, or underinsured;





			
	 	 	 
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	 	5)	 	Lender impaired the Collate,_
	 
	 	6)	 	Lender did not dispose of any of the Collateral;
	 
	 	7)	 	Lender did not conduct a commercially reasonable sale;
	 
	 	8)	 	Lender did not obtain the fair market value of the Collateral;
	 
	 	9)	 	Lender did not make or perfect a claim upon the death or disability of Borrower or any guarantor
of the Note;
	 
	 	10)	 	The financial condition of Borrower or any guarantor was overstated or has adversely changed;
	 
	 	11)	 	Lender made errors or omissions in Loan Documents or administration of the Loan;
	 
	 	12)	 	Lender did not seek payment from the Borrower, any other guarantors, or any Collateral before
demanding payment from Guarantor;
	 
	 	13)	 	Lender impaired Guarantor’s suretyship rights;
	 
	 	14)	 	Lender modified the Note terms, other than to increase amounts due under the Note. If Lender
modifies the Note to increase the amounts due under the Note without Guarantor’s consent, Guarantor
will not be liable for the increased amounts and related interest and expenses, but remains liable
for all other amounts;
	 
	 	15)	 	Borrower has avoided liability on the Note; or
	 
	 	16)	 	Lender has taken an action allowed under the Note, this Guarantee, or other Loan Documents.





7. DUTIES AS TO COLLATERAL:





Guarantor will preserve the Collateral pledged by Guarantor to secure this Guarantee. Lender has no
duty to preserve or dispose of any Collateral.



8. SUCCESSORS AND ASSIGNS:





Under this Guarantee, Guarantor includes heirs and successors, and Lender includes successors and
assigns. 


9. GENERAL PROVISIONS:




	 	A.	 	ENFORCEMENT EXPENSES. Guarantor promises to pay all expenses Lender incurs to enforce this
Guarantee, including, but not limited to, attorney’s fees and costs.
	 
	 	B.	 	SBA NOT A CO-GUARANTOR. Guarantor’s liability will continue even if SBA pays Lender. SBA is not
a co-guarantor with Guarantor. Guarantor has no right of contribution from SBA.
	 
	 	C.	 	SUBROGATION RIGHTS. Guarantor has no subrogation rights as to the Note or the Collateral until
the Note is paid in full.
	 
	 	D.	 	JOINT AND SEVERAL LIABILITY. All individuals and entities signing as Guarantor are jointly and
severally liable.
	 
	 	E.	 	DOCUMENT SIGNING. Guarantor must sign all documents necessary at any time to comply with the
Loan Documents and to enable Lender to acquire, perfect, or maintain Lender’s liens on Collateral.
	 
	 	F.	 	FINANCIAL STATEMENTS. Guarantor must give Lender financial statements as Lender requires.
	 
	 	G.	 	LENDER’S RIGHTS CUMULATIVE, NOT WAIVED. Lender may exercise any of its rights separately or
together, as many times as it chooses. Lender may delay or forgo enforcing any of its rights
without losing or impairing any of them.
	 
	 	H.	 	ORAL STATEMENTS NOT BINDING. Guarantor may not use an oral statement to contradict or alter the
written terms of the Note or this Guarantee, or to raise a defense to this Guarantee.
	 
	 	I.	 	SEVERABILITY. If any part of this Guarantee is found to be unenforceable, all other parts will
remain in effect.
	 
	 	J.	 	CONSIDERATION. The consideration for this Guarantee is the Loan or any accommodation by Lender
as to the Loan.





			
	 	 	 
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10. STATE-SPECIFIC PROVISIONS:









NONE







			
	 	 	 
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11. GUARANTOR ACKNOWLEDGMENT TERMS.



Guarantor acknowledges that Guarantor has read and understands the significance of all terms of the
Note and this Guarantee, including all waivers.




12. GUARANTOR NAME(S) AND SIGNATURE(S): By signing below, each-individual or entity becomes
obligated as Guarantor under this Guarantee.









	 
	/s/ Stephen P. Smith

	 
	Stephen P. Smith











ASSIGNMENT:




	 	 	 	 	 
	Lender assigns this Guarantee to SBA.	 	 
	 
	New Orleans Regional
Business Development Loan Corporation	 	 
	 

	 	 	 	 
	By:

	/s/ Ted Ledet	 	Attest:	/s/ Bill Pope
	 
	Ted Ledet,	 	 	Bill Pope,
	 	BRC Program Manager	 	 	Executive Director
	Date: 	May 3, 2007	 	 	 










			
	 	 	 
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