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HomeMy WebLinkAbout2740 notify Secureu Party 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 has not cured an act of default as liereinabove specified within ten (10) calendar days following demand Ay Secured Party, Secured Party shall have all of the rights and remedies of a secured party under the Uniform Commercial Code of Florida, including with- out limitation the rig;it 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 such entry shall be done lawfully, and remove the same or the books and records relating thereto therefrom. Secured Party may require Debtor to assemble the Collateral and the books and records relating thereto and make it available to Secured Party for his possession at a place designated by Secured Party which is reasonably convenient to both parties. The requirements of reasonable notice of time and place of i ' sale or other intended disposition of the Collateral by the E ' Secured Party shall be r.let by giving the Debtor, at the address ~ ~ E hereinbefore specified, 5 days prior written notice of such ~ ~ ~ sale or disposition. The Debtor shall be and remain liable ~ for any deficiency remaining after applying the proceeds of ~ ~ disposition of the Collateral first to the reasonable expenses ~ ~ of retaking, holding, preparing for sale or the like and the ~ ~ reasonable attorneys' fees and legal expenses incurred by ~ Secured Party in connection therewith, and then to tne satis- ~ faction of the indebtedness secured hereunder. - The remedies of tlie Secured Party hereunder are cumulative i t; and the exercise of any one or more of the remedies provided ti for ~ierein or under the Uniforri Commercial Code of Florida shall 4~ ~ ~ r~ ~ ~ - 4 - ~ow( ~ :pi t~ ~ - ~ i(~?'~~t5 ~ ~ar --rvv~.....~ e. _ . a_. . .