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(c) F.xercise any and all ri~}~ts of .1c~f:?ult under thc l.'niform ('ommrmial C~ic, or othcr lav? thcn prevailin~ in tiie State
w•hos:e laws ~o~•crn this a~rcement. SF:CL'RF.I? P:~1tTl' ma~ requirc i?ERTOI: to a~semble the ~oculs and makc thc~m a~silable to
SF:CCRFU 1'A1:Tl' at a place tu t?e des~~n:?ted b~• SECI'REU I'~1:T1', w•h~ch is rea+onably com•enient to SECL'ItED PARTY and
1 ~ E~:IiTOR.
(d) M~ notice of cal~, disp~sition or nther intended action b~ SECt'RED P~RTI'. sent to DERTOR st tfie address }
sF~ecified above. or such other addre:s of I?r:RT01: as may frmn timr to time ix~ shoHn on SF.CliItEU 1'ARTY's rccords at least =
fi~•e days prior to such actinn. shall cnnstitute• r~•.i~onable notic~• to i?ERT(11:. al? SFCt REh PAFTl"s ri~hts hereunder are t
cumulative, and no w•ai~•~r ot an~ d~•fauit shall affM•t :?n~ iat~r dcfault_ ~~'hcrc pcrn~ittcd b~ laa•. SECL REll YART1 may, upon =
iakin~ po~ecsion of s:iid per.wnal pmperty :ift~r dcfault, ~cll said per.,onal prop~rt~• at publ~c or pri~ate sale. ~eith or Mithout ~
notice to LERTOR at ~hich sale~ tiF:('L'REI1 PARTI' ma~• al~o hid. All er~x•nses of retakin~, holdin~, preparin~ for sale. selling
or the like. shall bc paid to SECl:1:EU Y~?RT1~ to~cthcr with all cnsts sris~n~ out of tame. In the e~ent of resale ot any of the ~
~rsona) property after repc~ssession upon Jelault, ~F.CI.~RED Y~itTF inay fir"st deduct from the pmceeds of such resale ite costs
and disbursements for anp by reason of retakin~;, rc~~a~rin~, holdin~ and m~lling. before appl~ in~ ar.~ of the balance of the prn-
ccrds to any other monirs due undcr thc terms of this a~;rcement.
(e) I~Teither the initiation nor pr~cecution to jud~ment of an~ Ie~ai action taken b~ SECL'REn P4RTT shall ser~e to
com•ey IeQa! tiUe to LERTOR of an~ of the pmpert} secured hereunder and such title shail not pass to UEBTO~t until all obiiga-
tions to SECUP.Ell PARTY ha~•e t~n paid in full.
(f) In the event it becnmes neces~ar~• to emplap an attorney to enfone aoy of the terms or conditions of this agreement,
I)EBTOR agrees to pay SECUHEU P~P.TY a masonable attorney's fee.
(g) The pro{~rt~ ~~•hich is the subject maiter of this aKreement m1~ be rnturned b3 UERTOR pursuant oniy to
SF.CURED PARTY's policy rrspectin~ return prl~•ilt•~es, but a»~• liabilit~ of SECL'REll PARTT ahall be limited to acceptintC ~
such return' and crediLir.fi same to other monies due, or to i>ecome due from UEBTO}t, but in no e~ent shall SECLTRED PARTY
be liable for interest or dama~es. ln the c~•ent of return or re~..e:_ion of property for an~• other rcason, DEBTOR agrees to
pay SECURF.U YARTY a re-stockin~ charge of not less than 10<< ot the punhase price of said merchandise.
(8) This aRreement shall inure to the benefit of and be bindin~ upon the succes~ors of the pariie~hereto. SECURED PARTY '
may assign this agreement but DERT(~B shall not ass~~n this agrerment «~thout the prior W ritten consent'of SECI: RED PAKTY. }
Subject to any statute khich establishes a different rulc, DERTOR ma~ not assert against anp assignee of SECLREU PARTT any
defense which LEBTOK may have aRainst SECUREU PARTY.
(9) SECL'RED YARTT ma~ terminate thi~ s~reement at ..ill, pro~•idevi hovre~er. that such tennination shall not in ar.; wap
affect any transactions entered into or riKhts emated or obliy-atio~~~ incurred prior to such termination. as to which transactions,
riRhts and ob)iqations of this a~rcrment shali be full}• operati~•e until the same are fully disposed of. linuidateei and concluded. -
Upon such termination, SECCRI~;U PAItTY shail be under no obli~ation to continue to sell or deli~er merchandise to DEBTOR and
i UEBTOR ackno~led~es it ~ill not assert as a defen~ to an} action, the electiun by SECliRED PARTY not to sell or deli~er
~ merchandise to DEBTOR. .
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; (10) ln the ecent SECURED PARTI fails to enforce any of the terms or conditions of this agreement~ such failure shall
not constitute a Wai~er or a bar to its right to subsequentl}• eniorce such term or condition or any terms or conditions hereof.
i (11) If any pro~ision of this a~reement shall, by la~~, be unenforceahle, the rema~ning provisions shall necertheless be of full
s force and effect.
~ (12) This aRreement shall be ~overned by the laws ef the aforementioned State in which SECURED PARTY resides or has
~ its place ot business and any and all pa}-ments due SF,CLREU PARTY from DERTOR shall be payable and performance of this
; agtcement shall be made in the Cit~• and Countp of the place of business of SECL'RED PARTY.
~ (13) If there bc more than onc signer of this agreement. their obligation shall be joint and several and the term "DEBTOR"
€ shall include each such person se~•erally. ~ ~
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's, (14) All mmedies provided for herein shall be cumulati~e and in addition to any other remedies pro~ided for by law.
? (15) This aRreement constitutes the entire, final and exclusi~•e a~reement ot the parties hereto and there are no promises,
; statements or repre~entations of 1ny kind or nature uhatsoc~~er-other than those herein contained nor are there any v~arranties,
~ either express or implied, other than SEC[;RF.1) I'ARTI"s implied Warranty of mcrchantaLility.
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(16) NothinR herein contained shall const~tute a partnersh~p beiween or joint ~enturc by the Farties hereto~ or constitute
either party the agent or employee of thc other. -
WARNER-ELEKTRA-ATLANT[C
ftLE~ AyD ?EC~?~~JEO R L*TI. , CORPORATION
~ ST. IuC~E C~)UN; r fLA.
R~r.E-.~Jt~R~S ~
CIEFK C?~C1fIT COURT ~ _
PF~r=" c;F~' , A. Sammons, Cred it Manager
; r
~ SfP Z9 II 3s AM ~~6 DEBTOR h Tap Dec ` of t. Pierce
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: y _
B• ~
~ William J. nk, Jr.
i B _ ~
Y
34E331 By
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~ ~ R 258 ~ 196 ~
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