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general partner, sign below:". Petitioners left that section
blank. Below that section the application said: "If Applicant
is a Corporation, sign below:". "Southern Police Dog Academy (A
division of Rosewood Kennels)" was typed on the line in that
section called "Corporate Name and Seal". There was no seal
affixed to the document. Petitioner signed in the corporate
section above the word "president", and Mr. Moye signed above the
words "corporate secretary".
On December 8, 1989, petitioner signed, next to the word
"President", a document entitled "Estimated Projection and
Forecast of Two Year's Earnings" in which the applicant's name
was listed as "Southern Police Dog Academy, Inc."
On December 8, 1989, Mr. Moye signed, under the words
"Southern Police Dog Academy", a document entitled "Compensation
Agreement for Services in Connection with Application and Loan
from [Or in Participation With] Small Business Administration".
He was required to submit that document with the application for
the SBA loan guaranty.
2. SBA Review of the Loan Application
On January 18, 1990, an SBA loan specialist reviewed
petitioners' December 8, 1989, loan application and suggested
that the loan be reduced from $550,000 to $500,000. Douglas J.
Tuttle (Tuttle), a senior vice president of United Bank in 1989,
concurred with that action. Tuttle had first done business with
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