ST. LAWRENCE COUNTY LOCAL DEVELOPMENT CORPORATION
Resolution No. MIC 14-08-06
August 28, 2014
AUTHORIZING LOAN FUNDING TO HEBEL WELDING and MACHINE, LLC.
WHEREAS, on May 17, 2005, the St. Lawrence County Local Development Corporation (“SLCLDC”),
which administers the St. Lawrence County Microenterprise Revolving Loan Fund, enacted Resolution #05-03 to
lend Mark Hebel d/b/a Hebel Welding and Machine the sum of $20,000.00, and
WHEREAS, to date, Mark Hebel has adhered to the terms and conditions of the 2005 loan, and
WHEREAS, Hebel Welding and Machine, LLC (“Borrower”) has applied for loan financing in an amount
not to exceed $17,000, which will be used for the purchase of equipment and for working capital to support the
business of the Borrower, located in Rensselaer Falls, NY, and
NOW, THEREFORE, BE IT RESOLVED that the St. Lawrence County Local Development
Corporation agrees to lend funds in an amount not to exceed $17,000 to Hebel Welding and Machine, LLC, and
BE IT FURTHER RESOLVED that the St. Lawrence County Local Development Corporation
authorizes said loan under the condition that the outstanding debt on the previous loan to Mark Hebel d/b/a Hebel
Welding and Machine will be determined at closing, and said debt will be consolidated into a new loan to Hebel
Welding and Machine, LLC for a total loan not to exceed $20,000 from the Microenterprise Revolving Loan Fund,
and
BE IT FURTHER RESOLVED that said loan shall be subject to the following terms and conditions:
Interest Rate
Term
Security
Other
Move:
Second:
VOTE
Blevins
Hall
LaBaff
McMahon
Peck
Staples
Weekes
4%
One Hundred Twenty (120) month term consisting of an initial three (3) months of interest-only
payments followed by a One Hundred Seventeen (117) month amortization.
 Second lien position behind SeaComm Federal Credit Union on Mortgage Real Estate located
at 350 Old State Road, Rensselaer Falls, NY.
 Second lien position behind SeaComm Federal Credit Union on Machinery & Equipment,
Furniture & Fixtures, Inventory, Accounts Receivables, and all General Intangibles of Hebel
Welding and Machine, LLC.
 Unlimited Personal Guarantee of Mark Hebel.
 Principal of Borrower agrees to sign any and all loan documents requested by the St. Lawrence
County Local Development Corporation in both his personal and corporate capacities.
 Borrower agrees to meet with the NYS Small Business Development Center, as the SLCLDC
deems necessary, to discuss current business operations.
 Borrower agrees to make available to the SLCLDC information necessary to secure liens on
collateral as described above; this includes, but is not limited to, providing serial numbers of
machinery and equipment, allowing photographs thereof, and periodic inspection and inventory
of collateral.
 Evidence of public liability insurance coverage in an amount to be determined by Counsel.
 Evidence of owner’s equity in the amount of $13,000.
 Job Creation: Company agrees to create 1 FTE position, of which 51% shall be filled by a
person(s) determined at hiring to be of low-moderate income.
Blevins
Hall
AYE
X
X
X
X
X
X
NAY
ABSTAIN
ABSENT
I HEREBY CERTIFY that I have compared this copy of this
Resolution with the original record in this office, and that the
same is a correct transcript thereof and of the whole of said
original record.
/s/
X
Natalie A. Sweatland
August 28, 2014