HomeMy WebLinkAbout1699 - ~
- - - . - -
~hat the c3oca~magt:a~y stapo~s ha~ve been pl:a~oed an the aa~-igina?1 Praaissaicy t~to~ .~e~omc+ed bY e~.
~i
.ui~{riW~M~j! _ . . . - T' . . . . y . _ _ . ~ - - . ~ . . . . . .
. , . . . . - . . . - - • . : . . . . .
~~~~o~soyr~r ~rin d~Nna th. cal.leral against tD. daim. aaa a.maaa. a au p~e.oo..t .nt a.. aaisi~q ib. .a.. o~ anT isl~t tl~.i~.
S. No ~aodoq SSaMm~ot._parscw-~ an~,.Cs~i~al. o~ +n7 Pwp~da i~ i~ on 8h h asY p~ublic dlb: Oor+ow~r autsadw 8~tlutrd Pult
b AL. ia ~uri~eBaW w2tsr~ 16h`a~lAho~is~lioo i?1~1" bi g1~Mi ed~tt. 'a F~taLtinq SLMmeat siqa~d od7 br th~ S~cvr'~d Pa~tT d~sa~bi~4 i~ Cd-
latsral in t6s um~ mann~r aa it L d~acrib~d hudn: and hom tlms to timo st tM r~quat oi S~.vrd Parit. ~~cvM aa~ o~ ~a~ tleancioq ~
aad sud~ olhu doeum~b (aad par tM oost d 81iaq o[ r~o0tdinq tM i11m~ • ie ~ a11 . P~~ ~io~s dNmd n~oMSart or d~aiiabl~ bT tb~ S~cviced
Puty) aad do suc6 olher acts and thi~p, sll as ths Sscund Pittr mar siquest to ~slaWhh aad maiauin a~a1W Ma~titY fatu~st in tbe CopaMral -
(irs~ d all otb~ li~ns aad cLims w6atao~wr) b ~c~n.tb~ pa~mut;ot 1~ liabWliw isckd~j. wWwut limitatloa d~poait with S~cund Part= a~ oer-
titicatu of t~M ipyab1N w114 ~DK'~-~ ~.~M ~+1 .s~-aoWioa tL~on oE,, W~- ial~teW, h~un~- ~
6. Bo~rowsr will aoi ~fa1 Pe+~ ~Y j~+~_4S i~cµtit7f ~tWests 14tA~t ,1Lao. SKV_id pattf~s-rs~uitt 1nMtMU b aWeh b anT d tlu Cd1aMw1: i
(b) p~rmit any d th~ Colla~~ral to bs le.i~d upo~-tad~ ir'i~t°poai~i: t~ 6'a`ad~Fs` l~i'i'ii. a ct~wiM di~pw~ d anT d tD~ Collatud oc nT
interat th~r~ia. oHsr~ ~o M~ ~d0. : dN pr(oc ~wr[tMa b1 S~wt~ p+alYi=.(~ p~rmit anptkinq b b~ doa~ that'at impaic 1M ~alw d anT
r ia.¢.
ot ths Collalsral bf Ihs 'sehvitj inl~nd ~ fo ti~ afbrd~d b7 U?4 a~rewNnl: or (e) p~tmit th~ CoUalual b b~ o[ b~ooms a$stun (aad Q is e:paesslr
eo~~nanbd. warraatad and aqi~ed. tLst tho Collat~ral. and s~~ pari ihsr~ot. wbNh~t ~d b anT »alq ar aot a~11 b~ and remain ps~soaal
proputY). ot b bscome an acroession b Whe[ qoods or pcopsrtY. _
7. Dosm~wr wW (~J a! a~? tim~s tMp 1hs.Coll~txal insured 'm ~nqounb uot leas than the fuU Luurabt~ ~alw t~no(. aqalnt lo~. dusag~. tL~fl. and
such olhi'•tik~ts is Se~red Part~'stf wqui~ io sueh ito~paai~s add under such polici~s and in such torm. and !ar s~ch p~riod~, as ahall be satidaclory
m Sscvr~d Partl. and ~aeL sucL polky sbaD po~id~, b~ ll~w Y~t Slaadard ar U~on Shndatd ~ndas~m~nt. dat lor theewmds a~d procreds qyabi~
thereundsr ~haq b papabls b~nd party as ie~ inMr~M ~ appear~ (and S~cu~d Partt maT apptt anY prao~sds d weh ios~uaeo~ wbieL maT be
reeai~sd by S~cvnd Partt b~vud paymsat d t6s liabilitles. whether dus a not dw. in sach ad~r af applieatio~ as SMUd PutT maT deMrmins) aad
each sucb polic! al~atl p=o~ide tor 10 dalri ~vritlan minimum anc~llatioa naKce to Socured Partir: and ~ sueb polio~ aball. i! S~cui+d Pa~t! ~9~~
be d~po~ibd vHb S~e~aed Party: aad Sweed Put! maT aet aa altors~T ior Bonow~r ia obeafnia9• ~~9• ~9- ~~9 wch ioauaen and
indoninq an7 ~aib: (b) at aU timss te~p ihs CoOat~ral free 1rom aa~ ad~e~ss liea. see~ iatenst. ar e~camixasos aad ia good ad~r aod s~pair and will i
aot warM a~ deshoi th~ Collabral o[ anT pari 1ber~ot.
e;:: _ . ~
e. ta) Borra..u...iu no1 u!• W ~11~leral ~r permit tht s~me b~S w~ed in oa .aaf ;•t.tW. a~.c.dinaeio::~anc~ :s:auaa P.rt, ~oa,
examias and inapee! tbs Ccllateral at f~ tls~i~i?D~t~wr lotaled. ~ Barowet wiU Pa7 P~M~l? wb~n du~ ~aD ti~ aed a~al~4 ttpoa ths Cd-
tsteral or foc its we or opontfoa or upoa this aqreement or upoa anp nots or aotes or o1b~r wr[Knq ~videacu~q th~ liabiliti~s. ac aay d thes..
9. At Ib option. Secured Partt map olscAuqe . Iues. lisns or securiry~ intererb or other encumbraacys at any tims ls~ied or plaoed an t~
Collat~ral. mtY WY !or insuwnos oa the CA~1+~~. ~~Y PaY toc the maintenanw sad p[eNnatfon d tD~ CoOaMia1. Dormw~r aqtMS b iai~oburs~
Securd Part! oo demand for anY Paymeat mad~. or anr e:pease ineuned. bp Secured PariT. pursuaat b tb~ laegaie~q autboriratioa. Until d~fault.
Borrowc mar han possassion d Collateral u?d us~ it in anY lawlul mannsr not inaomis/ent witL this anemeat and nol inooosisteat wlth aaY
poticlr c[ insuraacs lhersoa. ,
IQ Batow~r sha11 bs in delauH under ihis agreemeat upcm ihe happening oE anp ot ths foUo~rlnq w~nts o: aooditfoos: failure or omiaaim b
~ WY when due anr liahility (or any installmenl lherso! or iaterest thereon), or default in th~ paYment o~ pedamaacea d sny a~Igatian. oo~eaant.
i aqrManb or liabilitp oontainod or rsfea~d to hetsin: (b) anT warranty+. represanutioo. or state~at mad~ oc lumtah~d b Seeur~d PaRlr bY _ o~ aa
~ behalt d ant Bonowes pm~es b ha~e beea falss 6~ an7 material respect whea made oc tumished: (c1 lcq. tDeN. wbsupBal dama9e. destruetioo. ;
sal~ay~f~anp. tQ or of ~n7 of !D~ C:dlatefid. ot 14a ~piktnq'ot aA~ I~i: ~jsuss. or aeaeYassnt 7h~t~o[ ar lhesean: aq Obliqor (whkh i
terw. +4 _u~~d lM*N~, sha11 ,attaa, ~ach o.je= and , eacb olher P~Y P~~~Y or s~ow~datilt a C~tiaq~Ptly liabb_ oi? anT oE th~.liabilitieq b~ooo~s~
inwhr~af~or'aeabN to paY efeMr ~s tfie~mitare or' m#kes aa aasi~nment for tM beae8t ot aeditocs. or mp pe~ooefdb?q _ia inat~Nd bf oi ~qaiast
~ any t Oblqpr aHe~Iwj. tl~t sueh :~pr iR ~ohr~t ~ oi' . oabZs b pap d~bls as.tbn: autura: {s) ~ntqi oi aaY ju8qm~af agalsit a~i~ ` Oblfqor, l6 dN1b
~ ot an~ OWigor who is a natural p~rson, or of anY pariuer of any Obligar whic6 u a pattnership: (q) diswlutiao. metq~t ar a0aaolidati~. or #raaalsr
of a~ubstantiat paA oI th~ propsrtT d any Obliqor which is a oorporatfoa or a parmeiship: (W appo:ntm~at oi a r~o~r to~r tbs CdlatenJ a aat
f thereol c[ ior aal P~~~Y ~ wLich anp.'@arrowsr hs~t'an jntetest: . .
I 11. Upon tLe omirreacr d any~ sHaA ds~slt ~r a! : anT ; therea[t~t a whene~e[ `tb~ S~tuzsd . Pail~ baeh ins~cure br an~ roaaou wbal-
~ sos•~r. S~euisd Partr map. at Hs op~on. d s all}~ s~ h9ro,~1Y, ~ a-~!Y ot . them LnotwWutaadiag anT P~o~isions theroo0. imm~d'uqlp
du~ aad paTabi~ witlwut d~mand or °8~tih~~ ~~ti' aa
~ 1Le saas~ tbei$upon s6aU~ fimmedia~lr bsooa?s and b~ due and papab~e without d~maod
or noticy (but wit6 such sdjusta~~'~IPnf~-:~?fFl1~'1o ti~ 9r cVher Charysr ~s mty- b~ P~onsd~d' Iat In th~ promissorY noM or othet writinq
evideneioq such liability). and $~euted alty.~shall 1~~~.acd ~i e7~eici~e fro~a tia~.b.41~ ao7 snd all .ziqhls and remedi~s ct a Sscured PatY
und~r tb~ Uaiform Coma?ercial Code aod aff ~iqbb and rim~dl~s arallabM to h and~r anl.alh~r apQbeabb Lw: aod upou nqwN or demaad
ot SKw~d partp. Bvrower ~hall. ap,~ls'~s~t +wqlWi- 1~.'•CdtM~nl ~d m~b it a~ailaDM 1o tbe S~eurd PartT st a oon~~st Placs +oc~Wabl~
to S~cvnd PartT: and Boaowsr ~hall P~P~T P~7 all cwls d Secursd~PartT d oollectioo ot anr ~ a11, t6~ li+biliti~s. and snlorosmant oE riqLts
he»ued~r. fadudinq reasooabl~ atlan~yi fNS and kqal ~spens~s and esp~nses oE any r~paita b anY d th~ Col1atual and ~~ns~s o! anr tepattt
to anr nalty or othu pcop~rlr to ~rhid~ aaY ol tlw CoUatsraL map b~ a!lized. 11n~ notbc~ d sab. dispatitioo or ol!?et int~nded actioo b~ S~eur~d ~
Part~. s~at b Dorro.nr at th~ sddrw d Borrqwu sp~i6~d abo~~ or ai anr Wha addnas ahowa an Ws noo~d~ d S~nd PaAY. u lw1 8~e da~s
prioc b wcR acti~a. ahall cooWitut~ r~a~ooaLl~ soticy . b Hozmwer. Ysp~os~~ d t~lalaoq. boldinq. pr~pai~q for sab, s~llisq. or th~ iit~. ~6aA
includ~ S~curd ?arly i° r~a~Dl~ ahon~p~ fNS aod 1~l !~em~a Any ezeas~ or s~upku d precMds d aa~ disposition d aa~ d th~ Col-
lattral -may b~ s~pl~d bY Siwnd Partr toward paysuel d w~h d tb~, ]iabiHtiN. a~d 1n wth ad~r d appUeatioe, as S~cvt~d Partt aa~ Laa tim~
to tia sMd. ~
l2. No wah~r b~ S~curd Psrtt d aa! d~lauh aAa11 op~ra~e as a wainu ot aa~ othR d~lauh or ot tlr ~a~e dds~ilt m a lutu» ooaaioa. Ib
deLr at a~ioe oa tL~ d S~cund Pa~tp i~? uutiai~4 aaY riqat or s~adr sYaU op~rst~ as ~ wai~~ tb~nd. a~d ~o ~ieqb or putW ~rnc~ br
CY
sec„:.a Part~ a aar . t et n.s.a~ .ban pnaoa. ae~ aMr ar lurtL~r th«.d or es. .~.rci~. d,.T as.~ rfqht «,.r.ay. ?is. ~
is d tlw as~eo~ d thi~ agr~m~a~ !1a pra.yioes d thic aqsMm~at ar~ ~vau{au•~ aad io sdditioa b tM pto~isi~oo~ d aot wb Na~r~d D1 t61s
aqr~at, aad S~cund Pa~t~ aLaU Aa•~ d! tL~ Ma~6b. riqhb a~d r~a~di~s d aod uod~r any aoN Mcvr~d Mr~bT. Ii isn~ tl~an aa~ partY
.b,u .~aa. ~e~. aq~..d.m, w~r. "Bo.~o..r .h.n m.as an p.~w. .qaLq d~i. aqr~.e.~t .fa ..eti a m.s. .~a .n .och pa,tw .L.n e.
1~~1 ~~T ~9+~ and W6M bw~uad~r. T1~ si~qular p~asoa~. w~ urd ~Ns. ~baU io~ud~ NN phnal aud 1l~ aut~r ~LaO b~etud~
ma~cvtiM a~d f~aiain~. H tDl~ aqrNalwt i~ sot daMd ~r~n ~cuMd b~ 1h~ Dorrow~t., $~euwd Partf i~ aMSotMd. wGbout ~otio~ b tM
e«ro..r. b aw .q~«.MU. 2ai..qr...w ,hau b~eom. .u.c~l.. oe a» a.~. a w. .qn...at. An a S.ean.a P.nt , I~u.wa.r .ldl
b w ~..ee d~. wa...o....a ...q..: aed ap babiWMs d~onow~s ~1ag W~d ~ h~ics. ~a~on. adsinfNrnas. woo~0~r a~d a~Mqr d
each Doawnr. . . ~
Tfli aqr~i~t leas ~ii~a d~iiin~ i~ ~i 8uN et~Flaida ~ud sfrall h~ oo~utrwd i~ aoooadanar 1M 4w~s •~t N~rliY.'.~'~iii~N.
~sch p~o~irioa d tbir aqn~o~at ~iaD b~ bw~prM~d in suc6 a~aa~ d b b~ ~Wetl.~ asd ~alid ~o~da appliabM 4+i. baf ;dt, as~.p~y+1~b1) d tlts
scaq~~~~t a~a0 b~ ploaibiNd bl? ar l~~alid nsdK appfkabM 1aw. welt pro~f~iat ~La11 D~ iMd~etlt~ b Ih~ arMat,:~ w~?~'p~pibikdw~ ar fn1l~li~tt
. •
w~o~ iar~tldatieq t6e n~atnd~r d we~ pwwio~ or 9~ taai~f~q y~o~itloN d t~ aqsNS~st. ~
III WRNFd6 tMi~ADO~. tN~ aq~MS~ ~ b~ dd~ ~s~a~Md ~ d t~~ S~ dat d ~ W! .
~IS IS A ~LtlJ~~l ~ lYrD FII~W. pl1~A' Qt 8~ Q8 ~i M~fT~ I8~ . + • :
. ~ la?H l~ • t
• x_~, -t: .
~ . . . HY ~ R~D64t '~3 '1FA~6 ~ Y~8 ~ • ~ . r
.
Att~st. ~ . • , ~ ~ ' ~ , - ,
. . ,
s s`'.`';,;:
''~ti i
; ti-
~ ~i ~ s- ~ • . ~
c~',~~~'~`i " ~ ~
~ ~
- _~-__=.X~~