HomeMy WebLinkAbout0177 s. so.w,.e. ..~u e.r«w ~n. caise•r.~ .s•i~se tn. ca~ms .~+a d.nuwes a•a P.~sa~ at .nr c~. cw~+~s uw ssn,. o. •~y ~~e...st tn.nin.
S. No Finsecir~ Stsiem~nt eowrin~ snr Collatarsl a ~nr procMds.tMhol fs on flh U1 ~nY pu0lit ofRcK oarar~r suthorii~s S~cund Puty to fil~.
~u.~sdictions ahth this autAori:stion wrell a pwn dhct a Flnantint Stsba+~t sitn~d a~y b~r tAt S~tu~d Iaet~? dtseriWK tM CoMSta~l in tM ssm~
mannN ~t it it dtst?ib~d Mrein: and trpn tuM t0 ti~M it tM npw~ of S~CU~M raetr. ~CYb OM O? nw?f F1n~wd~ St~tMMntt'A~d such otMr docY-
n.ents (~~d psr tM cost o1 fili~ on c~oMini tM sam~ in aa pu0lie dlfc~a d~wn.d n.cass.ry a d~stnbN b~r tM S~cund ~Rr) sna do such aA~. scts and
~n~~is. an as ch. s.cu.w Pa.er ~*•r ?:bb+st ~o .saaisn ane msintau~ a ww s~cur~r ~~u +n th. caat..a nr.. ef ~II etMr li~ns snd cbims whstsa
ever) to s~eu~~ tM payen~et of tM lisbiliti~s, intludi~, rrithOUt IimibtiOn, d~pofit wKA SKw~d hRp Of Mr CNtiNtst~s Of tIW IifusbN Mith rtfpett to sny ol
tne ColWteral snd notation tAereon W tM s~cwity iM~nst A~r~d~?.
6. Borraw~ will not (s) permit sny lia~s o~ s~curity iM~sts (otM? thsn S~cunO PaAys s~tu~iqr Int~ to attKh to ~ny d the Collabral: (b) p~rmit
any of the Collst~rsl to ~ Nried upon wwNr snr N~sl proc~ss; (e) sMl, transi~r. N~s~. a~ otMMs~ ~N~poM o1 sny af tM CoUat~.N or any IM~st thsr~in, o.
oere. so eo da wieAOUt tM prio~ witta~ eons~nt of S~eund PaRy; c~ 0~ anytAi~ to A~ don~ th~t n?hr fn~slr tM va1u~ ef any of the Co11at~~s1 w th~
secu.~ty int~nd~d to et sHad~d by tAis as~ w q) p~nMt tM Collabral to b~ or O~tonN• s N~twr (an0 R b~r~ssly ooveeantb. wsrrsntW and
aH~eed. thst tM Co11stN~1. and Mry WR tMr~of. rMtMr sffix~d to am nslty w eof. sh~M b~ snd e~win P~M ProOw~Y~. o~ to ~eon~ sn see~ssion
to Wher ~oOda O/ p~Op~rb. _ _ . .
7. BOIfOMl/ MIII (a) it ill ii1M'! k~~ NN COllillfal I~1iYf~d i[~1f1ft IOSf. damit~;. ~MR ~IW WCM ~Il~f Ilflif K S~CYf'/A hRY m~Y fpY1N 111 f11C~f
amouots i11d eOfn~lsr4~s and W~d~/ sUCh pOliCiK iOd "in i11CA 1or111, i11d fOI flKh ptf~Odf. ~ fMY b~ fi~1lf~CtO~ t0 S~CIM/d pifly..alld tith Suth pOlity fhall
o~oY~a~ in~e ws: the.s~na.. ana oeoe..es wr~a. n~«.w+ar snsn a wr+a~ to s~w..e ?.~q as ies ~..+..t mar •voW~ esn~ s~wnd Ps.ty msy apWy
any proc~eds o/ wch inwra~c~ wlweh msy b~ nc~iv~d bp S~cw~d ?~Ry toratd psrmM~t o1 tM IlaOilitiN, wh~thK dw o? nat dw. fe suth oM~~ of aDDNC~-
:~on as Sseured Psety msy d~t~rmin~) snd ~stA sueh polity sAsll Orovid~ tor 10 ds~rs' writtNl ~niMmWw tanqllKiow noRio~ to S~eur~d PaRr: ind ~sth sueh
vo~~~r u+~~~. n s.~u~.a r,.~y so .wwse:. a a.vos+tw vr+~n s.ew~w P,rer: aea s.wne P,ey ~n.y .a .s a~eom.n to. sa+o.~. t~ oeea~des. .dlust~~s. saecu~i.
and csncellin~ such insursnce and in0orsi~ any d~atts; (b) st aN tleMS kMp tM Collat~nl hN tran anp sdwrs~ OfM1. s~axltlt InMhsf, or ~ncumOranc~ snd
+n good ordl~ ind rpii? ind ~rill eOt ~rlst~ M dqtrOp t!M COIIstKil O? snY W~t thNrOf.
6. (s) Borrawr wtp nat us~ tM CWIStNSt or p~rmit tM s~m~ to b~ ua~d In vioUtion d~r st~tub or oedin~~q: a~d ~euerd Partp mar w~ntn~ ~nd
inSDK< <IN COllilKil il ifly ~111N. ~MftYf? IOCitld. (D) 801IOwl/ ~IN WY P~P~~Y whMt dW all ti1tM Mld iffl~if~IMlb tlOp~ NN COIIi~Kil Or (W ki YN O?
oaerstioe w upon this sp~nt or up0e sny not~ or nobs o? dMr rriti~ widM~eie~ tM Na~. or ~np of tANn.
9_ At its option. S~cund Psrty may diseAsrp tsx~s. Ii~ns o~ s~eutitr Inhnsts w dMr ~a~ps ~t Mnr t4M. IM~d ot O~~c~d on tM Co11aR~ra1.
may pay for ietYrsnt~ pl tM CoHstMi~. and n1sY WY fOt tM eMIfltMlinC! ind WpM?atipl Of fM Co1litKal. oor~owM y~NS l0 Aimputs~ SKUr~d Patty on
demand tw a+~Y WYm~nt n+ad~. o~ any ~pen~! inwn~d. OY S~eYnd Partr pursusrt to th~ foe~oN~ wp~oeitatian. lMtll dtfwlf. Bonower may hsv~ Vos-
sezsion of Cpllsttrsl and us~ it in s~qr IsMr/u1 manMr not inoonsiltM~t MrMh Ws sp~MnMK and nd fnooipFshnt with anfl poWn? Of Insu?~ne~ tMr~on.
10. Bwrarar shsll b~ In defwlt tw~dtr tl~is s~rw~e~M _~qon tM h~pp~nir~ d aery of tM /orowf~ w~nts w wndidoes: failYti or omission to WY wheo
dua any GsOUitr (M ~ny `a~ftsqrtMnt thtr~Ot p(M~eKt thlr~a~). Of d~hYR MI t1N R~~K ~ P~M~Cf Of ~ ObliptiOR. COYM~11t. ~rNnN~M: Or liabili~y
contain~d o? re/err~d to Mhin: (A) a1q/ rtins~~tll. tiphsaNitiwl. O~ ftaR~NlMIt m~d! Or furtlifll~d ~O ~C1R~d Paftr br O? OII O~II~H Of Nly 90rtorre~ p~oves to
have be~n tsist ie ~nr mattrisl tisp~ct rrlw~ mad~ or furnfslw~ W bp. fIMR. su~tid dsroip. A~struCtjon. lN~. Ot MrcumbrallC~ t0 O/ Of -aoy ot tIK
; Couat~nb o? tM mski~ of snr Itvy, s~u~. w attachn»nt thenof or tMrron: t~ any Ob1l~sr MMch tKn~. ss uMd I»iMn, sMN ~sn ~seA Bwrow~~ snd
each otMr WRp P~ims~y or s~ea~dsriy or eaKirwntlp lisbl~ oe smr ot tM IiabiliWs) atenN~ Insolwnt w una6N to Wl/ d~Ots ss tM0? m~turr or makes an
I assianrMnt tor M~ b~ndit of chditors: or aeY P?ocMdir~ is InstitYNd by or api~t aeY Cblf;or a11~11s tAat f11tA QWitO? Is insOlvw~t M unaOM to Psy d~bts
as ther mstwl: (U NNry of snY l~i~ K~nst any Obli~w; (q dath ot ser OWi~or who b a natwal pNSOn, w d snr psrtn~r M ~ny OON~ whicA is • .
~ vartnership: (p dissolution. me~~r o? consolidstan. w t?snstv d a wbstsntlal put of tM prep~Rp o/ any OWito? wAlth b s ooiponRbn or s psrtrKrshiO:
(h) appointm~ntPS. s, r~ctivM fo? tM Co1litMal w any thtnof or tor ~ny prop~rty In w1ACh a11r ~rONr hss sm ietlrKt.
I1. UD~ tM occurra~c~ o! am/ sueA dNsult o~ st any tlrM tMr~sltK o? MrMnw~r tM 8~eund PsRp f~sls ins~cun fo? s~Y rwson wAatsoewr. S~-
cured PsRy msY. at its option. declah stt liabiliti~s s~cuhd M?~by. or snr of thwa (notwrid?standirK ~Y P~stons 1Mrrefl. (~mMdiatNY dw sod WYSble
w~[hoYt d~mifld O/ IWR1C~ O( illy Id11d i11d tM ia1M lANlup01~ fhill ITIMdiiblr b~tpM aBd bf dW ~fld W~01! MIZAMR dMMRd OI fW«q (Old Mi1tA ftK~1
ad~ustm~nts._ii snr, rith r~sp~ct to intsnst w othsr chsK~s as msy b~ p~orW~A for in tM pron~issory not~ w otM? writl~ MdM~C1~ sueh Usbility). sM •
Secured Psrty shall Aaw and msy ~cercist from tirnt to dnM snr snd aN ri~ts snd nm~s of • S~e~nd Pset~l wW~r tM Unifa~n Canm~rclal Codt and
any and ~II ritMs aed r~rn~di~s svsilsbM to k und~~ sny.otM? sppYe~bM Isw; ~nd ~qon hqwd o? /lMn~nd of S~tur~d PaR~?. OOIroMr sAsM, at its ~xp~ns0.
assembM tM Collstersl snd mske it availaDh to tM S~eund Psrar at a eomwniNrt plse~ socptabN to S~cund PaRy; ~nd 6onow~r sh~ll promptlY psy aN
costs of S~tund Part~r of toll~ttion M anr snd ap th~ NsbiYti~s, ~d MtoeoKn~t d~itAts M~undM intludin~ rNSOn~bl~ ~ttorM~rs iNS snd tKN t~ensss
and e:pens~s of sny hpsirs to sey of tM Colbteral a~d ~xp~ns~s ot ~nr rpslrs to sny r~slty or dM? prop~+ty to whid~ am of !M Co11aRKa1 nuy b~ afti:d.
Any nOtiC~ Of fi~l. d~ifpOfiGOfl Or Oth!? i!N!l~d~d ~diOn bq S~CYf~d P~~ly. fM1~ t0 BOIfOM~I il tM addMff Of 80?f0~~ fp~CifNd sb0'YM M ~R Mly OIINf ~dd1ltf
shown On tM frtOfdt Of S~CYrM P~Ry. H 1lit~ fiY~ diyf pfi0/ t0 fllth ~~00. lINO COM~11~ ?Mf011ibN 110HC~ l0 oOf10w1. EzQM1f~f 01 ~1ldfls, hOldins,
p.eDarirK f0~ t~ll. sMlins, a iNe 6ke, shall intlude S~cund P~rtys tissonsbN ~ttwm~rs' fMS aed Np1 ~ns~s. My pcc~ss o. w.olus d procMds ot sny .
t~sposition M sny oi tM Collst~nl msy be sppli~d br S~tutid PaRy tar~rd p~~nt d wcA O/ tIN IiaWld~s, and ill sueh ord~r Of sppNeaRbn. ss S~tuhd
Party msy irom time to tim~ ~Nct. ' •
i2. No ...~w. ey s«~.~a ~~cr or ~~y e.~~wc ov..n..s ...~iw. o~ ~r om.. a.r~~c w or a~. wn. e.fwn o~ , na~r. ooe~. r~o awr o.
omission On tM WR Of S~tund PaRy io e=trtisir?S sny ritht or tMNdr fAaM aPMah as a rNW? tlK~rOt. ~n0 n0 sii~N Or W~1 e~cMClf~ A~ S~tuerd PiRY
ot any ri~M W~Mltdy fhil) phClYdf itly dhN W fYAhN ~ltlfClf! ~Mf~Of Of M~ K~rCif~ Of iAr dhK fi~11~ OI fNMdY. Ti1M is b/ ~1N KfN1C~ Of fhlf l~fM
-•+er.t. TM peovisions of tMs s~reunent sn eumulstiw snd in sdqit(on .to th~ provlsiQns of a~r nob peurMl b!? tAls a~emnt. ~nd S~eund PaRy shsll hav~ _
ai~ the binefRs. risMs and rem~di~s d sed under sny eob s~cu?~d hMby. H nwr~ Maw on~ p~Ry shaM ~e~ t1As a~Mn~nt. tIN bne "eor~ow~r' shaM
mean a11 paRi~s si~nins this as~m~nt sod eath d them, snd aM such pseHes shall b~ ~olr~tly snd sw~aMr oblipEW and WbN M~/. TM Mnsular pra
~oun. whan us~d hsrMn. shsll include tM D~ural snd tM nwhr sAsN Inelud~ mastulin~ ~nd f~INnw H tNs a~wen~t is not dabd wh~n e~neubd bY tM Bw•
rower, tM S~tuhd PaRy is authwi:~d, withwd notlc~ t0 tM eWrowe/, to dsb this s~rN~nN~t. Thia a~n~rtNnt ahaM b~oorM ~/f~edv~ ~s d tM dab Of, thli
~ agreemMt. All ri~Ms ol Saeurrd PsRp AKwndK shaM inurr t0 tIN b~ndit Of itf sutpssots u~ ~ ~II p~biMti~f of Sor~awM fAir Oind tM Mirs.
~ e.rcutors, sAn+inlstrstws, succ~ssors and sssip~s of each 8orrow~r. ~
~ 13. TAis s~ntm~nt hss Q~en ddiwnd i~ tM Stat~ of Ftorids ~nd shsll pe constrwd in aotwdant~ wiM tM Isrs d Floelds. IMMrwM posslbl~. ~stb
Grovisipn pf this ssnement shsU 0~ IMerprat~d in suCA mannM as t0 bt ~H~CtiYf arld val~d ~Mld~t app~iC~bN li~/, bIR H anr prOVili011 O~ tlMf KrM~1~M~t fhaM
be proAibit~d py w invalid wfdN sppliubN Isvr, sYth provl_si0e1 fhill b~ iMH~tt1v~ to t!M ~oet~llt Of i1KA prOhibit1011 Of h1Y~Mditp. Mip101R fflYaliOitllls tM r?
~ r~a~nder of sueA P?otiisio~ w tIN r~maini~ Provisionf d thif aitrenNnt.
IN WITNESS YVMEREOF, this spNnwiR has b~~ Auly ~iutut~d as of tM~ dy? Of 197 ~ •
S+B~eA. s~sNd snd deNvtnd '~j QrR • ' 3~
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