HomeMy WebLinkAbout2518 'E ISSS - CLASS 56CURITY A6RBRY6NT - 6QUIPYSNT AND CONSUM6R GOODE _ Clukt i Court~, fnc.
SECURITY AGRBEMENT - EQUIPMENT AND CONSUMER GOODS
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AD11N3 AMD vli~DDOM ~A1tMt, 2lia. stat. ~ss~~ Marlc~t
(NAYE) ~ (NO. AND STREET)
r0l~ Hfi''~a~ s~• ~101~ nOi'1~ )~~SO ~ hereinefter called "Debtot". and
(CI1'Y) (COUIiTY) (8TA?E) (ZIP CODB)
~Q• ~ ~~0• ~Z 12Ze
(NAME) (NO. AND STREQT)
11~~1~A~(~A~ QaM~''011 ~Si~ ~aSSO . hereiaaftec called "Sccured Party•• ~
(CI'fY) (COVNTY) (STATQ) (Z!P CODB)
and from whom information co~cerni~g this security interest may be obteined at the addcess shown above, agree as
folloas:
Seetio~ I. Crestiow o[ Seeurity IateresL.
Debtor hereby grants to Secured Psrty a security intereat in the Collateral described in Section lI oi this Security
Agreement to secure perforaiance and payn'?ent oi all obligationa and indebtedness of Debtor to Secured Party oi what-
ever kind and whenever or however created or incurred.
Seetion II. CollateraL ~~~se
The Collateral of this Securitq Agreement ia
of Lhe iotlor?ing deecription:
8!~ aC~DOL~ A'lT~QH~ ai~~?'0 ARD lt~Di A!Al!! Of TUIi
00~1?ltAC? •
now owned or hereafter uquired by Debtor. and all additions and accessiona thereto, and proceeds thereof. The inclusion
oi proceeds in this Security Agreement dces not authorise Debtor to sell. di~pose of or otherwise use the Collateral in any
manner not apecificslly suthorized by this agreement.
Section III. Payment Obligstions of Debtor.
(1) Debtor shall pay to Secured Party any sum or aums due or which may become due pursuant to any pmni-
issory note or notes now or hereafter executed by Debtor to evidence Debtor'a indebtedness to Secured Party, in sc-
rordance with the terms of such pmmissory note or notea and the terms of thia Security Agreemenk
(2) Debtor shall pay to Secured Party on demand all expensea and eapenditures, including reasonable s~
torneys' feea and other legal expensea incurred or paid by Secured Party in exerc~sing or pmtecting ita interests.
rights and remedies under thia Security Agreement, plua intereat thereon at the rate of ten perrent (10~,) per annum.
(3) Debtor ahall pay immediately, without notice. the entire unpaid indebtedness of Debtor to Secured Psrty.
whether created or incureed pursuant to thia Security Agreement or otherwise. upon Debtor's default under Section V
of this Security Agreemeat.
Seetion IV. Debtor's Representations, Wsnanties aad Asrecmenta.
Debtor represents. warranta and agreea that:
(1) All information supplied and atatementa made by Debtor in any financial, credit or accounting statement
or application for credit prior to. contemporaneously with or subsequent to the execution of thia Security Agreement are and
shall be trae. correct, complete, valid snd genuine.
(2) Nn Financing Statement covering the Collsleral or ita proceeda is on file in any public office; except for
the security interest granted in thia Security Agreement, there ia no lien. aecurity intereat or encumbrance in or on
the Collateral; and Debtor is the owner of the Collateral.
(3) Debtor'a residence ia the addreas shown at the beginning of thia agreement, and Debtor will immediately
notifp Secured Party in writing of anq change of Debtor's place oi residence.
(4) If the Collatersl is bonght or used primarily for b~siness use and is of a tqpe normally used in'more
than one State (such as antomotive equipment, rolling atock. sirplanes. road building equipment, commerc~al harvesting
rquipinent. constivction mschinery and the like), the chief place of business of Debtor is the address ahowm at the beginning
of this agreement, Debtor will immediately notify Secured Party in writing of any change in Debtor's chief place of
business. If certificates oi title are isaued or outatanding with respect to any of the Collateral, Debtor will cause the
interest of Secured Partq to be prnperly noted thereon.
. (5) If the Collateral ia to be whollq or partly afiixed to real estate or other goods. a description of the real
estste or other goods is as followa:
and t~e name of the record owner of such real estate or other gooda is -
If the Collateral ia whollq or partly aifiued to real eatate or instslled in or affixed on other goods, Debtor will, on
demand of Secured Party inrnish the latter with a disciaimer or disciaimera, signed by all persons having an intereat
in the real estate or other goods, oi any intereat in the Collateral which is prior to Secured Party'a interea~ Unless
the blank apaces in thia pusgraph s~ filled in when thia Security Agreement is executed, the Collaterai will not
be aifi:ed to any reai eatate or other goods so as to become iiaturea on auch real eatate or acceaaiona to other goods.
(6) The Collatenl e?ill be ased primsrily for:
(s) •
(b) Fatming opentions.
(c) Busineaa use. unleas Secured Party conaenta in writing to another use.
(d) And, in addition, is being acquired wiih the prceeeds of the note of Debtor to Secured Party
which Secured Psrty may disburse directly to the 3eller of the Collateral. (Strike an inapplicable atatement)
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(7) TL~~~1 xhnl ~n j~ Debtor's posaesaion or control at all timea at Debtor's risk of loss and
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be kept at ~1~~!'ldi itiN ?t~7M1~ lit~Pk~t ~ r0lt Tl~!!~ ~ 8t . Liai~_~ ~laY•iAt
INa aad St~etl ICit~) ICoaet7l ISLteI
~rhere Secured Patty may inspect it at anq time. Ezcept for ita temponr~? removsl in connection with ita ordinsrp nse,
Debtor shall not remove the Collateral from the above addreaa without obtaining prior written consent imm Secured Party.
(8) The Collateral will not be misuaed or abused. waated or allowed to deteriorate. e~ccept for the ordinsry
wesr and tear of ita intended primary uae, and will not be uaed in violation of anq staiute or ordinance.
(9) Debtor will have and msintain inaursnce at all timea with reapect to all Collatenl agsinat riaka of fire,
theft snd auch other riaka aa Secured Party may require. inclading standard extended coversge, and in the case of motor
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