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to both FREEDOM and PPI as their interests may appear, and with
duplicate policies deposited with PPI if demanded.
(a) FREEDOM shall not lend, rent, lease or other-
wise dispose of the collateral or any interest therein except as
authorized in this security agreement or in writing by PPI and
FREEDOM shall keep the coilateral free from unpaid charges, in-
cluding taxes, and from liens, encumbrances and security--interest
other th3n that of PPI, and
(b) FREEDOM shall sign and execute a Financing
Statement or other document or procure any document, and pay all
connected costs, necessary to protect the security interest under
this security agreement against the right or interests of third
persons.
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IV
Default
Non-compliance with or non-performance of any of
. ArT~R .Iwy~ wR~~irN wr~ih~s Aa~ iwil.wtc ~ o~Rs tN~t
FREEDOM's obligations or agreements^under this security agree-
ment shall constitute default. In addition FREEDOM shall be
in default if bankruptcy or insolvency proceedings are instituted
MrreLwii~~j? ~~cts./.w~s rNt ,
by it, sR MwNw'? ~ w?i4~~1~ areA a~~ `e~l ~t•oR w~av i0 f+~wi.
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V
PPI's Rights and Remedies
A. Rights exclusive o£ default.
PPI may
(1) Enter upon FREEDOM's premises at any reasonable
time to inspect the collateral and records pertaining to the col-
lateral or its proceeds and FREEDOM shall assist PPI to make any
such inspection.
B. Upon FREEDOM's default.
(1) PPI shall have all the rights and remedies
provided by the Unifarm Commercial Code in effect in the State
-of- Florida- at dat~ of execution-of thi~ security agreement,- and---
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