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Home My WebLink About2293 . ~ - ~ . ~ f !f t6is a teement is secutit fot ~ loan to be used to a a art or all of the ~ g y p y p pucchaye ptice ot tlie collateral; to use the ; ; ptocee.ls of the loan to pay the pucchase price~ filiag fees aad i~surance premiumY. 1he Sccumd Yarty however. miy pay T ; the pmceeds directly to the seller ot the collatecal. ~ i To immed'ately noti(y che Secured Yarty in wcitina of any change in ~t discontinuance of Debtor'splwce or places ot I business andfot tesideace. ! That if che collateral 6~a beea auached to or is co be atiached co ceal estace, a descriptioa of the ceal escate and the ~ name aud address of ~he ~ecoid o~vaec is set forth in che scnedule hereio; if che said collatersl is attachcd to ~eal estate ~ prior to the perfection of the securicy interest aranted he~eby, Debtu~ w~ill oo demand ot the Secured Party fumish the latter (~nth e disclaimer ot disclaimets, signed by sll persons havina an interest in thc ~eal estste.ofanyinterestinthecollateral which is prior w Secured Party's interest. I TN~ PARTIF.S FURTHER AGREE ~ . I Notes. if say. e=ecuted in rnanection ~vith chis agreemrnt~ are sepacate instruments and may be ncgotiaced by Secured Party ~rit6out releasina Debtor, the collateral. ot my guarantor oc co~maker. Debtor conscnts to any e:cension of time of payment. IE thete be aare than one Debtu~, auarantor or cotnalcer of this agceement or of ootes secured hereby. the obliga- i noa of all shall be primary. joiat at~d several. ~ai~er of oracqu~escence ia any de(ault by the Debwr.or failure of the Secured Party to insist u;+on strict petformaace i by the Debtor of any aarcanties or agreemencs ia this security egreemrnt, shall not conscitute a waiver of any subsequent ~ or other default or failure. Notices oo either party shall be ia ~rritin6 and sball be deliveced personally or by mail addressed to che pac~y ac the ~ address hercia set (otth or otheraise designated in wrriting. The Uaifoan Commercial Code shall govem the rig6ts~ duties and remedies of the parties and any provisions herein ; declated iavalid undet any l~~r s6a11 not invalidate any other provision or this agreemenc. The following shall constitute a default by Dcbtor: i j Failure to pay t6e priacipal or aay iastallment of priocipal or of i~teresc on the indebtedness or any notes ~rhen due. " Failuce by Debtor m comply .~r'r;6 ot perform soy provisioa of this agreemma i~ False or misleadia6 representations ot wacranues made oc iven by Debtor in conneccion with this agreemenc. (i . Subjectioo of the collateral to leoy of e:ecution or ot6er ju~icial process. I Commencemeat of aoy iasolvency ptoceediag by or against the.Deb~or or of any guaranoor of oc surety fo~ the Deboor's ~ obliaations. ~i Death of the Debcor or of aay Guacantorof or surety for tfie Debmr's obli$ations. Any teductioa ia the •alu! of the coFlateral or aay act of the Debtot w~h~ch imperils the prospecc o[ full petfota~ance or !j satisfaccion of the Debtoc's obligations herein. Upon any default oE the Debtor aad~at the option of t6e Secured Patty. the obligaiions secured by this agreement shall immediately bernme due and psyable ia full ~vithout nodce oc demand and che Secured Paay shall have all the rig6cs. rem- j~ edies and privileaes with respect to repossessioa, retention aad sale of the coUsteral aod disposition of che Qroce~ds as are accorded to aSecured Party by thespplicable sections of che UniEotm Commercial Code respectiaa "Default'~ in effect I as of the date oE dtis Security Aaceemeat. ' Upon aay default. the Secuted Patty's reasoaable atcomey's fees and the legal and other e:penses for pursuing. seatchiaa Eor, recei~ing, takin~. keepiag, storing, advenising, and selling t6e collatetal shall be chargeable co the Debtor. The Debtor shall remain liable for any de6cieocy re~uiting from a sale of the rnllateral and shall pay aay such dr ficieocp forthwit6 oa demand. If the Debtot s6a11 default in the perfocmaace of a~y of che provisions of this agreement oa the Debtor's part to be pee~ iI fotmed, Secuted Paay may perfoaa same for the Debtor's account and any monies ezpmded in so doing shall be chargeable with interest to the Deboor aad added to the Indebtedness secured hereby. i~ In conjuncaon with, addicion to or substitution for those rights, Secured Party~ at his discretion~ may: (1) enter upon ! Dcbtoi s premises peaceably by Secured Party's own means or wit6 legal pmcess and talce possession of the collsteral, or ~.render it unusable. or dispose of the collateral on che Debtor's premises and the Debtor agrees not to resisi or intedere; ;(2) requice Debtor m assemble the collateral and malce ic available to the Secured Party at a place w bc designated by the ; Secvred Party, reasonably convenient to botb parties (Debtor agrees chat the Secured Party's addtess as set forth above is i a place reasonably convenieat for such assembling);(3) unless the collateral is perishable or threatens ~o decliae speedily ~ in value or is of a type cusmmarily sold on a recognized maelcet, Secured Party will give Debtor reasonable notice of t6e ~ime and place of anypublic sale ~hereof or of the time after whichany private sale or any other incended disposition there- of is to be made. The requirements of reasonable notice will be met if such notice is mailed, postage prepaid, to che ad- ! ~ dress of the Debtot s6ow+n above~ at leasc three daYs before the ume of sale or disposition. j~ Secured Party may assi$n this agreemrnt and if assigned the assignee shall be entitled, upon notifying t6e Debtot, to pecformance oE aU of Debtot s obligations and agreemmts 6ereunder and che assignee shall be rntided to all of ~he rights ~I aud cemedies of theSecured Parcy hereunder.Debtor will assert no claims or defenses Debmr may have againsc the Secured i i Yaccy agaiosc t6e assignee. ~e Secured Party is heteby authorized co file a Financing Sracement. ~ ~ ;I ~ ' 1 ! i I s j~ I [ ;i t 4 r i I ~ ~ li ' li i ~ : ° I ~ ~ i F y ! E 'a f ~ ~Q S & il t ~ ~ :i $ I ~ 2 il I~ i~ ~1~ ~ a i~ ~ ~I ~ ~ I~ i ~ ~s ~ ~ r 0 f~ r ; $OOi( ~ P~Cf ~ti~ ~ Y y~ , . _ 'r.Y=~ s. : ~ - . . ~ i _ C~ ~ .Y,.:. . ~