gov revenue formsandresources forms SPA
Upcoming SlideShare
Loading in...5
×
 

gov revenue formsandresources forms SPA

on

  • 287 views

 

Statistics

Views

Total Views
287
Views on SlideShare
287
Embed Views
0

Actions

Likes
0
Downloads
0
Comments
0

0 Embeds 0

No embeds

Accessibility

Upload Details

Uploaded via as Adobe PDF

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

    gov revenue formsandresources forms SPA gov revenue formsandresources forms SPA Document Transcript

    • MONTANA SPA Rev. 02-08 ACKNOWLEDGEMENT Lender: ___________________________________________________ Address: ____________________________________________________________________ Borrower: __________________________________________________ Address: ____________________________________________________________________ Guarantor: _________________________________________________ Address: ____________________________________________________________________ License No.:_________________________ Trade Name of Business: _____________________________________ Location of Business: __________________________________________________________ The Montana Department of Revenue, Liquor Control Division, has determined that portions of the loan agreement and accompanying documents, including but not limited to the security agreement do not adhere to the Montana Alcoholic Beverage Code, Title 16, MCA. The word “collateral” within this acknowledgement shall mean the above liquor license and liquor inventory. The Lender agrees/understands that it will not/can not restrict movement, sales and transfer of the collateral from its existing location. The Lender agrees/understands that cross collateralization language is unenforceable as it relates to loans securing the liquor license as collateral. Lender and Borrower understand/agree that if the Borrower defaults on the loan, which is the subject of this transaction, the Lender’s rights are protected under § 16-4-801, MCA. The Lender further understands that the license must be placed on nonuse status pending transfer to a qualified purchaser. The Lender understands/ agrees that upon default it may not lease the collateral. In the event of a default, Lender will exhaust all remedies it has against Borrower to recover the amount of borrower’s indebtedness to Lender before demanding payment from any guarantor under its guaranty that may be a party to this transaction. Lender and Borrower understand and agree to adhere to the above statements as required by the Montana Department of Revenue, Liquor Control Division. Signature of Lender: ______________________________________ ______________________________________ ______________________________________ Signature of Borrower: ______________________________________ ______________________________________ ______________________________________ Signature of Guarantor: ______________________________________ ______________________________________ ______________________________________