(5) On the terms and conditions of the Paycheck Protection Program, loan forgiveness will be provided for the sum of documented payroll costs, covered mortgage interest payments, covered rent payments, and covered utilities. As explained above, not more than 25% of the forgiven amount may be for non-payroll costs.
(6) During the period beginning on February 15, 2020 and ending on December 31, 2020, Borrower has not and will not receive another loan under this Paycheck Protection Program.
(7) Borrower for itself and all persons acting on its behalf in connection with this loan further certifies that the information provided In Borrowers application and the information provided in all supporting documents and forms is true and accurate in all material respects. We understand that knowingly making a false statement to obtain a guaranteed loan from SBA is punishable under the law, including under 18 USC 1001 and 3571 by Imprisonment of not more than five years and/or a fine of up to $250,000; under 15 USC 645 by imprisonment of not more than two years and/or a fine of not more than $5,000; and, if submitted to a federally insured institution, under 18 USC 1014 by imprisonment of not more than thirty years and/or a fine of not more than $1,000,000.
(8) Borrower acknowledges that the lender will confirm the eligible loan amount using tax documents it has submitted. I affirm that these tax documents are identical to those submitted to the Internal Revenue Service. Borrower also understands, acknowledges, and agrees that the Lender can share the tax information with SBAs authorized representatives, including authorized representatives of the SBA Office of Inspector General, for the purpose of compliance with SBA Loan Program Requirements and all SBA reviews.
(9) The United States is the principal place of residence for all employees of Borrower included in Borrowers payroll calculation.
(10) If Borrower operates a franchise, the franchise is listed in the SBAs Franchise Directory.
(11) If the Borrower has received an economic injury disaster loan made by the SBA (an EIDL), it has not applied the proceeds of the EIDL, for the same purposes for which this Loan is obtained, and any loan received by Borrower under Section 7(b)(2) of the Small Business Act between January 31, 2020 and April 3, 2020 was for a purpose other than paying Payroll Costs and other allowable uses for loan under the Paycheck Protection Program Rule.
(12) The signatory set forth below, in his/her capacity as noted below of Borrower is authorized, empowered and directed to execute the foregoing Note and no further authorization, consent or direction is required from the undersigned or any other party for the execution and/or delivery of the foregoing Note and the performance by Borrower of its obligations thereunder.
(13) Neither Borrower nor any owner of the Borrower is presently suspended, debarred, proposed for debarment, declared ineligible, voluntarily excluded from participation in this transaction by any Federal department or agency, or presently involved in any bankruptcy.
(14) Neither Borrower nor any owner of the Borrower, or any business owned or controlled by any of them, has ever obtained a direct or guaranteed loan from SBA or any other Federal agency that is currently delinquent or has defaulted in the last 7 years and caused a loss to the government.
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