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HomeMy WebLinkAbout2734 the property of Debtor; (8) the commencement of any bankruptcy or insolvency proceedings by or against the Debtor or any guarantor or surety for the Debtor, or any assignment made by the Debtor for the ~enefit of creditors; (9) failure to promptly notify Secured Farty of the loss, theft, substantial damage or destruction to or of any of the Collateral or to : consult with Secured Party as to the use of insurance proceeds resulting from such loss, theft, substantial damage or destruction to or of any of the Collateral. Remedies: If Debtor Corporation I~dS not cured an act of default as hereinabove specified within ten (10) calendar days following demand by Secured Party, Secured Party shall have all of the rights and remedies of a secured party under the Uniform Commercial Code of Florida, including without limitation the right to take immediate and exclusive possession of the Collateral, or any part thereof, and the right for that purpose with or without legal process to enter any premises where the Collateral may be situated, provided sucn entry shall be done lawfully, and remove the same or the books and records relating tnereto therefrom. Secured Party may require Debtor ; to assemnle the Collateral and the books and records relating ~ tliereto and maY.e it available to Secured Party for his possession ~ ~ ~ at a place designated by Secured Party wliich is reasonably ~ convenient to both parties. The requirements of reasonable ~ ~ ~ notice of time and place of sale or other intended dispos~t~on ~ of the Ce_lateral by the Secured Party shall be met by giving ~ ttie Debtor, at the address hereinabove specified, 5 days prior ~ ~ written notice of such sale or disposition. The Debtor shall ~ ~ be and remain liable for any deficiency remaining after applying ~ t?~e proceeds of disposition of.the Collateral first to the ~ reasonable expenses of retaking, holding, preparing for sale y; >y or the like and the reasonable attorneys' fees and legal expenses ~ incurred by Secured Party in connection therewith, and then to ~ - 4 - ~ ~ ~ ~ov~Z~ ~ :K ,Z~pl. Z131 ~ ~ ~ . _ .