REVOLVING LOAN FUNDAPPLICATION

TOP OF ALABAMA REGIONALCOUNCIL OF GOVERNMENTS

An Equal Opportunity Agency

UPDATED/REVISED 2013

1

TARCOGREVOLVING LOAN FUNDS

PURPOSE: Finance business expansion and start-up projects of regional private for-profit firms.

LOAN LIMITS: Up to 50% of the total project cost or a maximum of $250,000, whichever is less. Maximum amount for working capital - $30,000.

TERMS: 10 years - Land and Building5-7 years - Machinery and Equipment3 years - - Working Capital

RATES: Negotiable; based on current “prime rate”

FEES: $200 - Non-refundable, advance application fee

2 % - Application fee (less advance fee) (minimum $1,500; maximum $2,500)

½ of 1 % - Servicing Fee, due at the anniversary date of the loan ($100 minimum)

PRIVATEFINANCING: At least 25 % of match must be private sector funds

Can match RLF 50 % with 25 % private and 25 % other public funds

ELIGIBLE USES: Land acquisition, preparation and associated expenses

Building acquisition

Machinery and equipment purchases (new or used) and related expensesWorking Capital (major expansions of existing business only)

ELIGIBLE APPLICANT: Manufacturing or industrial business

Retail/Commercial business with high job potential (* see Other below also)

COLLATERAL: Loans are to be secured by lien positions on collateral at the highest level of priority that can accommodate the borrower’s ability to raise debt and equity capital. Personal and corporate guarantees are required.

ADDITIONALREQUIREMENTS: 1) Professionally prepared financial statements.

Commitment letters from all other sources of financing.

2) Demonstration of sufficient cash flow to service the debt.

3) Creation of one new full-time job per every $20,000 in borrowed funds (for manufacturing/industrial businesses).Or: Creation of one new full-time job per every $7,500 in borrowed funds (for commercial/retail businesses

3) Other/Special (if required)

2

Top of Alabama Regional Council of Governments

APPLICATION PROCESS

The deadline for submitting applications is the first working day of every month. All applications must be typed and complete when submitted. Incomplete and/or handwritten applications will not be presented to our loan review committee. Completed applications should be submitted to our office at 5075 Research Drive NW, Huntsville, AL 35805-5912. For questions/other information on the Loan Program, contact the Program Manager, D. C. Schafer, at (256)716-2480 voice, (256) 830-0843 FAX, or del.schafer@tarcog.us

Information substantiating total project cost must be included. This consists of, but is not limited to: Itemized contractor’s bid for construction or renovation; Quotes for equipment to be purchased; Sales agreements; and Breakdown of working capital

Commitment letters from any/all participating lenders must be included with the application when submitted. Additionally, exhibits that relate specifically to the borrower must also be included.....FEES

A $200 non-refundable advance application fee is due with submission of application. The balance of the fee is due with the executed commitment letter. The total application fee is 2 % of the amount borrowed (minimum $1,500; maximum $2,500). A service fee of .5% will be assessed annually to your principal outstanding balance on the anniversary date of the loan (minimum of $100).

REVIEW PROCESS

Loan/application review meetings at the local level are currently held on an as needed basis, driven by Application submittal/status. Generally the RLF Board Meeting” will be held via a telephone conference-call, established by a consensus of member availability date/time. Board Members will have received digital or other transmission of Application(s) and other project related materials at least three working days prior to the “meeting.” For this reason, it is requested that applicants submit all application materials in digital format (ie. Word/Excel documents, .jpg pictures or .pdf files.) This Application Document should be submitted BOTH in hard copy and digital format, as it has original signature requirements.

An officer/principal of the business may attend the “meeting” and: a) make a brief initial project presentation; and, b) after a closed Board Member discussion, if requested, return to answer any questions the board may have about the project or the business.

Within two working days following the “RLF Board Meeting” a determination will be made, and a decision letter mailed to the Applicant. After Board RLF Project approval, a letter of commitment is prepared by TARCOG’s legal counsel and is forwarded to the applicant for signature. This letter states collateral requirements, terms of the loan, etc. After the borrower has executed the commitment letter and returns it to our office, our counsel will prepare the closing documents and mail them to the borrower’s counsel. It is of the utmost importance that both the borrower and the borrower’s attorney review the commitment letter and closing instructions carefully. Familiarity with the terms and conditions greatly enhances the closing process.

3

LOAN CLOSING

TARCOG’s RLF cannot supplant private financing. Therefore, our loan proceeds will not be disbursed until all private financing and equity portions have been injected*. Proof of expenditure of the other funds (or their availability in the event of mutual or staggered expenditure needs) will be required at closing. For this reason, copies of paid invoices and canceled checks will be required for all RLF Project expenditures – not just those financed by TARCOG. You will be required to substantiate all costs of this project including those costs financed by TARCOG, equity injection, as well as all other financing. If such evidence is promptly and/or properly provided, the loan proceeds may be placed into an escrow account until all other proceeds are spent. After a loan has been closed and placed into escrow, the borrower is responsible for repayment of the total loan as outlined in the Note. All loan closings are held at our attorney’s office

TARCOG’s closing documents are standard documents. Any borrower initiated modifications to these documents will result in an additional legal fee charged directly to the borrower.

ADDITIONAL

Revolving Loan Fund applicants will be required to sign a statement that “conventional financing of this project will place an intolerable burden upon borrower”.

Borrower understands, and agrees that any funds spent prior to approval by the Loan Review Committee will be at the borrower’s risk. This includes, but is not limited to, expenses for appraisals, environmental reviews, etc.

TARCOG will obtain a credit report on the applicant company as well as the principal(s) and/or guarantor(s).

I have read, understand and agree to all of the above.

________________________________ __________________Signature Date

(REMIT $200 with this application)

Note: An original signature/hard-copy of this Application is required

4

TOP OF ALABAMA REGIONAL COUNCIL OF GOVERNMENTS

5075 Research Drive NWHuntsville, Alabama 35805-5912

Telephone: (256)830-0818FAX: (256)830-0843

REVOLVING LOAN FUND APPLICATION

I. APPLICANT INFORMATION:

COMPANY NAME (applicant)____________________________FEIN#________________

BORROWER NAME (beneficial owner-type “same” if same)_______________________________

CONTACT PERSON________________________________TITLE________________

BUSINESS ADDRESS____________________________________________________

CITY_______________STATE_____________ZIP_________TELEPHONE__________

Email _________________________________________________________________

PRINCIPAL BUSINESS ACTIVITY__________________________________________

PRODUCT LINE(S):______________________________________________________

DATE COMPANY INCORPORATED:_________ SIC Code___________

LEGISLATIVE DISTRICTS: AL HOUSE_____ AL SENATE_____ US CONGRESS_______

TYPE OF BUSINESS: Corporation Proprietorship Subchapter S Corporation Partnership Limited Partnership Woman Owned Minority Owned

BREAKDOWN of FINANCING

BREAKDOWN of TOTAL PROJECT COSTSLand & Building

$Machinery & Equipment $

Working Capital $

Total Project Cost $

EMPLOYMENT INFORMATION:5

Lender #1___________________________________________________Phone(___)_____________Contact______________________Amount $___________Term_____________Rate_____________Lender #2___________________________________________________Phone(___)_____________Contact______________________Amount $___________Term_____________Rate_____________Lender #3___________________________________________________Phone(___)_____________Contact______________________Amount $___________Term_____________Rate_____________

Equity Injection $_________________ Source_______________________________

Number of present employees: _________________

Number of jobs to be created as a result of this expansion: _________________(within 18 months of loan project completion)

========================================================================

BRIEF HISTORY OF THE COMPANY*:

PRODUCT DESCRIPTION*:

OWNERSHIP: (List names and % of ownership)

OFFICERS and MANAGEMENT (attach résumés)

President:__________________________________

Vice-President:______________________________

Plant Manager:______________________________

* Attach additional page if necessary

6

IDENTIFY ANY/ALL PARENT, SUBSIDIARY AND AFFILIATED COMPANIES, INCLUDING THE LOCATION, NUMBER OF EMPLOYEES, AND OWNERSHIP BREAKDOWN (%). (Attach additional page if necessary)=========================================================================================

7

II. COMPANY PROFILE

Geographic Marketing Area:

Major Customers (list at least three): Location % of Sales

_____________________________ _____________ __________

_____________________________ _____________ __________

_____________________________ _____________ __________

Major Competitors (list at least three): Location

_____________________________ _____________

_____________________________ _____________

_____________________________ _____________

Major Suppliers (list at least three): Location

_____________________________ _____________

_____________________________ _____________

_____________________________ _____________

Describe this project and how it will affect your current operation andProductivity: (Attach additional page if necessary)

8

III. PROJECT DESCRIPTION

PURCHASE OF LAND & BUILDING (attach copies of bids/quotes to support costs)

Location_____________________________________________________

Purchase Price $_________ Appraised Value $_________ Sq. Ft._________

Site Size (Acres) _____________

Will any space be subleased? Yes No(If Yes, then: Amount of Square Feet to be Subleased ________/Annual Rate $________)

Environmental Concerns (check if applicable and explain on separate sheet) (ie: previous use issues, historical/cultural aspects, prime farmland)

BUILDING CONSTRUCTION

Location______________________________________________________________

Construction Cost $_________ Square Feet __________ Site Size (Acres) ___________

Contractor _________________________________ Land Cost $______________

Will any space be subleased? Yes No(If Yes, then: Amount of Square Feet to be Subleased ________/Annual Rate $________)

Environmental Concerns (check if applicable and explain on separate sheet) (issues such a noise levels, storm water run off and processing related water/sewer needs)

MACHINERY & EQUIPMENT (attach copies of price quotations to support costs)List the machinery & equipment to be financed, including make, model, identification numbers, and cost:

WORKING CAPITAL (attach copies of quotes as examples of expenditures)Detail the Working Capital needs to be financed (be specific):

9

ASSURANCES

A) AGREEMENT OF NON-EMPLOYMENT OF TARCOG PERSONNEL: I/we agree that if the TARCOG RLF approves this loan application, I/we will not for at least one (1) year hire as an employee or consultant anyone that was employed by TARCOG during the one-year period prior to the disbursement of the loan.

B) I/we certify that, upon disbursement of RLF funds, new equity in an amount not to be less than 10% of the total project cost will be injected as a part of this project

C) I/we certify that all information in this application and the exhibits is true and complete to the best of my/our knowledge and is submitted to the RLF so the RLF can decide whether to grant a loan or participate with a lending institution in a loan to me/us.

D) I/we certify that, with respect to this project, commencement will not occur prior to the approval of the application by the loan review committee of the Top of Alabama Regional Council of Governments.

E) I/we certify that no officers or principal shareholders have been convicted of any felony or misdemeanor involving theft, dishonesty, deception, false swearing, or the filing or submission of any false or misleading information to any agency of government, nor are any charges of any such offenses pending.

F) I/we give the assurance that we will comply with Sections 112 and 113 of volume 13 of the Code of Federal Regulations. These code sections prohibit discrimination on the grounds of race, color, sex, religion, marital status, handicap, age or national origin by recipients of Federal financial assistance and requires appropriate reports and access to books and records. These requirements are applicable to anyone who buys or takes control of the business. I/we realize that if I/we do not comply with these non-discrimination requirements, TARCOG can call, terminate or accelerate repayment of my/our loan.

G) I/we give the assurance that this project is in compliance with all local, state and federal environmental and zoning regulations. I/we further certify that the business is not currently under citation for pollution violations and that all applicable future antipollution standards shall be met.

H) I/we comply with Federal, State and Local laws concerning facility access for the physically handicapped.

I) I/we provide a drug free workplace as defined by the Controlled substances Act (21 U.S.C. 812) and 21 CFR 1308.11.

J) I/we authorize disclosure of all information submitted in connection with this application to the financial institution agreeing to participate in the loan.

K) Loans will not be made to applicants for the sole purpose of relocating an enterprise from one area in the TARCOG region to another. Loans will be recalled if loan recipient relocates outside the five-county TARCOG region.

L) I/we give the assurance that I/we shall now and throughout the term of this loan provide any and all information requested by TARCOG personnel for the purposes of monitoring my/our loan and evaluating the RLF program and its impact.

M) As consideration for any management and technical assistance that may be provided, I/we waive all claims against TARCOG and its employees.

N) I/we agree to pay, up front, a non-refundable advance application fee in the amount of $200 for the purpose of reviewing the application submitted to the RLF committee.

10

O) I/we agree to pay, at the acceptance of the letter of offer, an application fee of 2% of TARCOG’s investment (but not less than $1,500 or more than $2,500, less the $200 advance fee) payable to the Top of Alabama Regional Council of Governments.

P) I/we agree to pay, to TARCOG, an annual servicing fee equal to ½ of 1% of the outstanding principal balance owed. This fee will not be less than $100, annually.\

Q) AUTHORITY TO COLLECT PERSONAL INFORMATION: This information is provided pursuant to the Privacy Act of 1974

R) By signing this Application, the applicant parties affirm, that for the duration of any resultant loan, they will not violate federal immigration law or knowingly employ, hire for employment, or continue to employ an unauthorized alien within the State of Alabama. Furthermore, a contracting party found to be in violation of this provision shall be deemed in breach of the agreement and shall be responsible for all damages resulting therefrom.

S) EFFECTS of NON-DISCLOSURE: Omission of any items means your application may not receive full consideration.

I HAVE READ AND AGREE TO THE ABOVE ASSURANCES.

If applicant is a PROPRIETOR OR GENERAL PARTNER, sign below:

____________________________________ _______________________By Date

If applicant is a CORPORATION, sign below:

____________________________________________ ________________________ (Company Name) Date

By:_____________________________________________________ (Signature of President)

Attested by:

________________________________________________________ (Signature of Corporate Secretary)

Signature of applicant:_____________________________________________________

Print/type name:__________________________________________________________

Address:________________________________________________________________

Phone number (____) __________________

Email: ________________________________________________________________

11

For Information Proposes

Borrowers Attorney: Name:_________________________________________

Address:_______________________________________

City, State, Zip:__________________________________

Phone: (____) ___________FAX: (_____) ____________

Email: ________________________________________

Borrowers Accountant: Name:_________________________________________

Address:_______________________________________

City, State, Zip:__________________________________

Phone: (____) ___________FAX: (_____) ____________

Email: ________________________________________

12

SOURCE OF FUNDS

Amount Term Rate Annual D/S

Bank 1%

Bank 2%

RLF%

Other%

*Equity

Totals

* Equity Injection coming from: Cash Flow, Retained Earnings, Individual

USE OF FUNDS

Land & Building M & E Working Capital Totals

Bank 1

Bank 2

RLF

Other

*Equity

Totals

* Equity Injection coming from: Cash Flow, Retained Earnings, Individual

13

CERTIFICATE OF INJECTION

The undersigned hereby certifies that, in compliance with the Top of Alabama Regional

Council of Governments guidelines, the sum of $___________ will be injected into this project

by my company before the disbursement of funds from the Top of Alabama Regional Council of

Governments Revolving Loan Fund.

In Witness Whereof, and intending to be legally bound hereby, the undersigned have

hereunto affixed their hands.

________________Date

_________________________Principal

__________________________Title

14

ADDITIONAL EXHIBITS**

A. Business Plan which 1) Describes the background and history of the business, 2) Provides an analysis of what the new project will accomplish, 3) Explains how the market will support and sustain business operations, and 4) Breakdown of ownership. APPLIES TO START UP COMPANIES AND THOSE WITH LESS THAN THREE YEARS OF OPERATION.

B. Sales Agreement for land and/or building to be purchased. (Appraisals should be attached)

C. Itemized contractor’s bid/estimates for construction/renovation.

D. Letter from participating lender(s) detailing: Amount, Interest Rate, Term and Collateral. (All terms and conditions of financing)

E. Professionally prepared Balance Sheet and Profit & Loss Statement for Company’s three most recent fiscal years, with notes. (Bound copy from accountant)

F. In-House Balance Sheet and Profit & Loss Statements (within last 90 days).

G. Professionally prepared projected three-year Balance Sheet and Profit & loss statement, with notes. (Project the balance of this fiscal year and two additional fiscal years)

H. Professionally prepared projected one year Cash Flow Statement (month-by-month), which includes new debt service. (Project CF for balance of this fiscal year as well as next fiscal year)

I. Summary of outstanding loans including: Amount, Remaining Balance, Interest Rate, Term, Monthly Payment, and Security. Include all loans to date and pending.

J. Résumé for all persons listed as principals and management including education and experience.

K. Personal Balance Sheet for all major stockholders (owning 20% or more of company’s outstanding stock).

L. Signed quotes or sales agreements on machinery/equipment purchases.

M. Names of any affiliates or subsidiaries including relationship (include financial statements).A company is considered an affiliate if the principal has 51% or more ownership in another company.

N. Details of any bankruptcy or insolvency proceedings against company or principals.

O. Details of any pending lawsuits.

P. Franchise Agreements.

Q. Recent appraisal of building to be purchased (or offered as collateral).Loan may be made contingent upon receiving appraisal at value - but do not request appraisal until approval of loan.

15

R. Current Environmental Assessment of subject property (if Applicable).Loan may be made contingent upon receipt of Phase I Environmental, if necessary.

S. Individual and corporate tax returns for the last two years.

NOTE:

If any exhibit does not pertain to your business, place a N/A in front of the exhibit letter. Please place exhibits in order.

Other items that may be addressed – Do not provide prior to loan approval:

Articles of Incorporation _____________

Corporate Resolution to Borrow _____________

Key-Person Life Insurance _____________

Flood Insurance _____________

Environmental Assessment _____________(If Required) (Within six months – On building to be purchased/offered as collateral)

Appraisal _____________(Within six months – On building to be purchased/offered as collateral)

16

PERSONAL FINANCIAL STATEMENT AS OF _________Date

SUBMITTED TO: ___________________

PERSONAL INFORMATIONAPPLICANT (NAME) CO-APPLICANT (NAME)

Employer Employer

Address of Employer Address of Employer

Business Phone No. of Years with Employer

Title/Position Business Phone No. of Years with Employer

Title/Position

Name of Previous Employer & position (If with current employer less than 3 years)

No. of Yrs.

Name of Previous Employer & position (If with current employer less than 3 years)

No. of Yrs

Home Address Home Address

Home Phone No. Social Security No. Date of Birth Home Phone No. Social Security No. Date of Birth

Name, Phone No. of your Accountant Name, Phone No. of your Accountant

Name, Phone No. of your Attorney Name, Phone No. of your Attorney

Name, Phone No. of you Investment Advisor/Broker Name, Phone No. of you Investment Advisor/Broker

Name, Phone No. of your Insurance Advisor Name, Phone No. of your Insurance Advisor

Cash Income & Expenditures Statement For Year Ended __________________ (Omit Cents)ANNUAL INCOME AMOUNT ($) ANNUAL EXPENDITURES AMOUNT ($)

Salary (applicant) $ Federal Income and Other Taxes $

Salary (co-applicant) State Income and Other Taxes

Bonuses & Commissions (applicant) Rental Payments, Co-Op, or Condo Maintenance

Bonuses & Commissions (co-applicant) Mortgage Payments Residential Investment

Rental Income Property Taxes Residential Investment

Interest Income Interest & Principal Payments on Loans

Dividend Income Insurance

Capital Gains Investments (including tax shelters)

Partnership Income Alimony/Child Support

Other Investment Income Tuition

Other Income (List) Other Living Expense

Medical Expenses

Other Expenses (List)

TOTAL INCOME $ TOTAL EXPENDITURES

Any significant changes expected in the next 12 months? Yes No (If yes, attach information)

17

Balance Sheet as of ________________ASSETS AMOUNT ($) LIABILITIES AMOUNT ($)

Cash in Lending Institution(including money market accounts, CDs) $

Notes Payable to Lending Institution X X X X Secured $

Cash in Other Financial Institutions (List)(including money market accounts, CDs)

UnsecuredNotes Payable to Others (Schedule E) Secured UnsecuredAccounts Payable (Including Credit Cards)Margin Accounts

Readily Marketable Securities (Schedule A) Notes Due: Partnership (Schedule D)Non-Readily Marketable Securities (Schedule A) Taxes PayableAccounts and Notes Receivable Mortgage Debt (Schedule C)Net Cash Surrender Value of Life Insurance (Sched B) Life Insurance Loans (Schedule B)Residential Real Estate (Schedule C) Other Liabilities (List):Real Estate Investments (Schedule C)Partnerships/PC Interests (Schedule D)IRA, Keogh, Profit-Sharing & Other Vested Retirement AccountsDeferred Income (Number of years deferred______)Personal Property (including automobiles)Other assets (List):

TOTAL LIABILITIESNET WORTH

TOTAL $ TOTAL $

CONTINGENT LIABILITIES Yes No AMOUNTAre you a guarantor, co-maker, or endorser for any debt of an individual, corporation, or partnership? $_______________

Do you have any outstanding letters of credit or surety bonds? $_______________

Are there any suits or legal actions pending against you? $_______________

Are you contingently liable on any lease or contract? $_______________

Are any of your tax obligations past due? $_______________

What would be your total estimated tax liability if you were to sell your major assets? $_______________

If yes for any of the above, give details:

If not enough space, attach a separate schedule or brokerage statement and enter totals only.

Schedule A – All Securities (including non-money market mutual funds)No. of Shares (Stock) or Face Value (Bonds)

DESCRIPTION OWNER(S) WHERE HELD COSTCURRENT

MARKET VALUEPLEDGED

YES NO

READILY MARKETABLE SECURITIES (Including U.S. Government and Municipals)*

NON-READILY MARKETABLE SECURITIES (closely held, thinly traded, or restricted stock)

18

Schedule B – InsuranceLife Insurance (use additional sheet if necessary)

Insurance Company

Face Amount of Policy

Type of Policy Beneficiary

Cash Surrender

ValueAmount

Borrowed Ownership

Disability Insurance Applicant Co-ApplicantMonthly Distribution if DisabledNumber of Years Covered

Schedule C – Personal Residence & Real Estate Investments, Mortgage Debt (majority ownership only)Personal ResidenceProperty Address Legal Owner Purchase Market

ValuePresent Loan Balance

Interest Rate

Loan Maturity Date

Monthly Payment

Lender

Year Price

InvestmentProperty Address Legal Owner Purchase Market

ValuePresent Loan Balance

Interest Rate

Loan Maturity Date

Monthly Payment

Lender

Year Price

Schedule D – Partnerships (less than majority ownership for real estate partnerships)*Type of Investment Date of

Initial Investment

Cost Percent Owned

Current Market Value

Balance Due on Partnerships: Notes,

Cash Call

Final Contribution

DateBusiness/Professional (indicate name):

Investments (Including Tax Shelters):

* Note: For investments which represent a material portion of your total assets, please include the relevant financial statements or tax returns, or in the case of partnership investments or S-corporations, schedule K-1s.

Schedule E – Notes Payable

Due to Type of Facility Amount LineSecured

Collateral Interest Rate

MaturityUnpaid Balance

Yes No

19

Please Answer The Following Questions:

1. Income tax returns filed through (date): ________________Are any returns currently being audited or contested? Yes No

If yes, what year(s)? ______________________________________________________________________________________

2. Have (either of) you or any firm in which you were a major owner ever declared bankruptcy? Yes No

If yes, please provide details: _________________________________________________________________________________

3. Have you drawn a will? Yes No

If yes, please furnish the name of the executor(s) and year will was drawn:______________________________________________

4. Number of dependents (excluding self) and relationship to applicant: _________________________________________________

5. Have you ever had a financial plan prepared for you? Yes No

6. Did you include two years federal and state tax returns? Yes No

7. Do (either of) you have a line of credit or unused credit facility at any other institution(s)? Yes No If so, please indicate where, how much and name of banker: ___________________________________________________________

___________________________________________________________________________________________________________

8. Do you anticipate any substantial inheritances? Yes No

If yes, please explain: _________________________________________________________________________________________

___________________________________________________________________________________________________________

Representations and Warranties The information contained in this statement is provided to induce you to extend or to continue the extension of credit to the undersigned or to others upon the guarantee of the undersigned. The undersigned acknowledge and understand that you are relying on the information provided herein in deciding to grant or continue credit or to accept a guarantee thereof. Each of the undersigned represents, warrants and certifies that the information provided herein is true, correct and complete. Each of the undersigned agrees to notify you immediately and in writing of any change in name, address, or employment and of any material adverse change (1) in any of the information contained in this statement or (2) in the financial condition of any of the undersigned or (3) in the ability of any of the undersigned to perform its (or their) obligations to. In the absence of such notice or a new and full written statement, this should be considered as a continuing statement and substantially correct. If the undersigned fail to notify you as required above, or if any of the information herein should prove to be inaccurate or incomplete in any material respect, you may declare the indebtedness of the undersigned or the indebtedness guaranteed by the undersigned, as the case may be, immediately due and payable. You are authorized to make all inquiries you deem necessary to verify the accuracy of the information contained herein and to determine the credit-worthiness of the undersigned. The undersigned authorize any person or consumer-reporting agency to give you any information it may have on the undersigned. Each of the undersigned authorizes you to answer questions about your credit experience with the undersigned. As long as any obligation or guarantee of the undersigned to you is outstanding, the undersigned shall supply annually an updated financial statement. This personal financial statement and any other financial or other information that the undersigned give you shall be your property.

________________________ __________________________________________________________________Date Your Signature

________________________ __________________________________________________________________Date Co-Applicant’s Signature (if you are requesting the financial accommodation jointly

20

SPOUSAL ACKNOWLEDGEMENT

I am the spouse of ________________________________, a (principal stockholder in)

(general partner of) (sole proprietor of)_________________________, which has submitted an

application for financing from the Top of Alabama Regional Council of Governments (TARCOG).

I am aware that the federal Equal Credit Opportunity Act prohibits TARCOG from

requiring a guarantee from me unless I am a substantial owner of _______________________. Company applying for loan

I acknowledge that TARCOG did not require, request or suggest that I guarantee the loan.

Instead, after being advised by TARCOG that additional collateral would be needed, my spouse

and I independently volunteered my guaranty, without this having been requested or suggested

by TARCOG.

___________________________________Spouse

_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __ _ _ _ _ _ _ _ _

IF NO SPOUSAL GUARANTEESIGN BELOW

My personal financial statement reflects only those assets individually owned by me. All jointly owned assets are not reflected on the attached personal financial statement.

______________________________________Guarantor

21