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HomeMy WebLinkAbout0012 E 1358 - CLASS i- SECURITY ACREELENT - 6QUIPMENT AND CONSI~YEQ GOOOS C(rrke h Courts' Uc. • SECURITY AGREEMENT - EQUIPMENT AND CONSUMER GOODS , t.o. ~es ~~so _~~g ~D YHZDDDIt lj~ aw?t~ ~alNr~ Nuk~t (NAY ) ~ (NO. AND STRSET) . _ ~_„~~l,~ LY~1~ ~?Al'1~ 1~1s0 ~ hereinaftec called "Debtor"~ and (CITY) (COUN1'Y) (3TATB) (ZIP CODS) - ~I"'Z~ • . ~ ~ Q • ~~Z~ (NAYB) (NO. /1N0 STR6BT) ~.~wl ~ w.iw ' QW1bn T~I~~ T~S~ . hereinatter called "Secured Party" . (CtTY) ~ (COUNTY) (STATH) (2IP CODB) - and from whom information conceming this security interest may be obtained at the address shown above, agcee as follows: Seetiaa I. C~eatioa of See4rity lnterest. Debtor hereby grants to Secured Party a security interest in the Collateral dexribed in Section II of this Security Agreem^nt to secure performa~ce and payment of all obligations and indebtedness of Debtor to Secured Partq ot what- ever kind and whenever or however crested or incurred. Seetioa II. Collateral. The CollBteral of thia Security Agreement is of the tollowing deseription; 1 - lb-b~til~ Lideia~ Masbin~ . Z - rol~s ~ill~ra i- Deriv~r u~ talr 1i~. Z Lin Roll~s QoAn~or. 1- Idl~ to0 tor lto. 2 Ceo~o~. ~ - Co~ Me0~1 •5~60 ~siai No. 3~9T~-t! tsr t~ aeo~n. novr owned or hereafter sequired by Debtor, and all additions and accessions thereio. and proceeds thereof. The inclusion of proceeds in this Security Agreement does not authorize Debtor to sell, dispose of or otherwise use the Collateral in any manner not specifically authonzed by this agreement. • Section III. Pa~rment Obligations of Debtor. (1) Debtor shali pay to Secured Party any sum or soms due or which may become due pursuant to any pmm- issory note or notes now or hernafter executed by Debtor to evidence Debtor's indebtedness to Secured Party. in ac- cordance with the terms of such promissory note or notes and the Lerms of this Security Agreement. ~ (2) Debtor shall pay to Secured Party on demand all eapenses and expenditures, including reasonable at- ~ torneys' fees and other legal expenses incurred or paid by Secured Party in exercising or protecting its interests~ rights and remedies under- this Security Agreement, plus interest thereon at the rate of ten percent (10~~~,) per annum. (3) Debtor shail pa y immediately, without notice, ihe entire unpaid indebtedness of Debtor to Secured Party, w~hether created or incurred pursuant to this Security Agreement or othcrwise. upon Debtor's default ander Section V uf teis Security Agreemen~ Section IV. Debtor's Representations. R'srranties and Agreements. Debtor represents, warrants and agrees that: (1) All infotmation supplied and statements made by Debtor in any financisl, credit or accounting statement ~~r application for credit ptior to, contemporaneously with or subsequent to the execution of this Security Agreement are and shall be true, correct. complete, valid and genuine. (2) No Fflnancing Statement covering the Cotlaterat or its proceeds is on file in any public office; except for the security interest granted in this Securitq Agreement, there is no lien. security interest or encumbrance in or on the Collateral; and Debtor is the owner of the Collateral. (3) Debtor's residence is the address shown at the begianing of this agreement, and Debtor will immediately notifv Secured Party in writing of any change of Debtor's place of residence. (4) If the Collateral is bought or used primarily for business use and is of s type normally used in rnore than one State (such as auWmotive equipment, rolling stock~ airplanes, road building equipment, commercial harvesting ~•quip~nent, construction machinery and the like). the chief place of business of Debtor is the address shown at the beginning ~~f this agreemettt. D.:utor will immediately notifq Secured Party in writing of any change in Debtor's chief place of hvsiness. If certifica;es of title are issued or outstanding with respect to any of the Collateral, Debtor will cause the interest of Secured Party to be pmperly noted thereon. (5) If the Collateral is to be vrholly or partly affixed to real estate or other goods. a description of the real estate or other goods is as follows: i and tlie name of the record owner of such resl estate or other goods is • E if the Collateral is wholiq or partly affixed to real estate or installed in or affixed on other goods, Debtor will, on ~ demand of Secured Party furnish tAe tatter with a disclaimer or disclaimers, signed by sll persons having an interest in the real estate or other goods, of any interest in the Collateral which is prior to Secured Party's interes~ Unless the blank spaces in this parag~aph are filled in when this Security Agreement is executed, the Collateral will not !ie affixed to any resl estate or other goods so as to become fixtnres on such real estate or accessions to other goods. (6) The Collateral will be used primarily for: (a) (b) Farming operationa. (c) Business use. untess Secured Party consents in writing to another use. (d) And~ in additeon, is being acquired with the proceeds of the note of Debtor to Secured Party ~vhich Secured Party may disburse directiq to the Seller of te li statement) _ /l~ ~ ebtor igns Here (7) The Cotiatersl shall remain in Debtor's possession or contrnl at all times at Debtor's risk of loss and ~ be kept at S~ ~ ~ ~ ~Q~ ~ ~~u~A (No. and StrceU ICitf? ICcwnt7l 13tate) ! Khere Secured Party may inspect it at any time. E:cept for its temporar~ removal in eonnection with its ordinarq ~tse, Debtor shall not remove the Collateral from the above address withoat obtaimng prior written consent from Secured Partq. (8) The Collateral will not be misused or abused, wasted or allowed to deteriorate, e:cept for !he ordinary ' wear and tear of its intended primary use, and will not be used in violation of anq statute or ordinance. ~ (9) Debtor will have and maintain insurance at aU times with respect to all Coliateral against risks of fire, theft and such other risks as Secured Party may reqnire, inrluding atandard extended coverage, and in the case of motor BOOK~H FAGti 1~ ; , ~ k ~ __.~~n s , , _ . _