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Dorrow~~ wql d~had tIN Co1lat~r~1 ~qa4ut tl~~ cAims ~sd d~mand~ of atl p~r~au ~t ~ny ~im~ claimiaq U~~ wm~ or ~nr inN*~s1'tMnie.
S. No Financinq S~al~m~nt cov~rinq wY CoUaNr~i or ~nY procMd~ thsr~ol is oa !ib in ~nr puDfic otfic~: dwroMr~r autho~isN S~cured Par1y
w fib. in ~urudiclions wh~r~ Ihi~ authorisatioe MiII D~ 91Y~A ~Ueet. a Finaneinq Sqnaual siqe?~c! only by ~A~ ~r~d Partr d~seribiaq the Col~
l~br~! in U?e ~ams maon~r as it is dNCtiL~d R~r~ia: and ham tim~ to tim• at W~ rpu«t d S~cur~d Partp. ~:~eu~~ on~ or mor~ Financiaq Sul~menb
p?d ~ucA o1!?~r ao~„e.ab c.sa P,r u~. cosl ot tllinq or r~cordioq tA~ ua~ ia all public odic~s da~m~d aK~W~Y or d~sirabl~ by th~ Senued
Partpl aad do ~ueR wh~~ ~cts aad thwqs. aU as tA~ S~cur~d Partp m~y »qw~t b~MsD1is6 aod m~inuin a ~alid s~curitr inaresl ia 1A~ Collawral
IttN of all dA~r li~a~ and t4im~ ~rh~ho~~~r) to wtur~ tb~ paym~al d Ih~ UaDilitlM, iaeludiaQ, xithcwt litaitatiass. dspoait ~rith Sstura~ Ptrty aay tar-
s~l::at~ at riti~ issuab~ ~riih nap~ct w any ot th~ Collal~rtl ~nd notation 1Mrwn d 1A~ s~cvrity interest h~nund~r. -
6. Bonower w~{I no1 tal p~rmil any L~as or s~curitp im~rNb WA~r lhan S~cut~d Patty's s~cu~itr iaterNtl to ~ttach lo anY ol ~h~ Colfa~eral:
~D? p~rmif any d the CoUaterai to be Ie~i~d upon undsr U~~ l~qal procew: tc) NIl, ft~~uhr. l~as~. ot o1}i~rwns dupos~ d any of the Collat~r~l w any
inMrN1 thtr~iu, or olt~~ so w do. riUwul IA~ pHor wrilt~a coeiMnt o! 5~cured Party: (dl p~rmit ~aylAinq to~b drn~ that may impair ~he wlue ol anY
ol !b~ Co14t~u1 or th~ secuciry :nteaded to b~ atiorded br thla aq»em~ut: or p~rmit tlte Colla~eul to be or bcrom~ ~ ti~ure +and it is e:pressly
coreaanted, wartae.rd snd aqreed. that Ihe Cdlaterai. and ev~ry patl tAar~ol. ~rAst}.et alli:ed to any retlty or not, shall be and ~emain gennnal
prop~~ty), or to ~ea+me an accesswn to other qoods or propertr.
7. Bw~owes will (a~ a1 aU tim~s kNp tl?~ Colbt~ral ieuur~d ia amounb not len U+an Me tup insurable ~alue IAereol. aqainst {oss. dam~qe. ~helt. and
such dher risks as Secured Party mar rpuire in iueA rnmpu+ie~ aad uod~r auch policiei and in sucA lor~o, aad lor such period~. as ahall De sabztactory
~o Secured P~rty. and each sueb poliryr ~ball ptoride. by New Yottc Sundatd or Union SUadud ~edors~menl. thal bss thu~under and pcocee+is payable
?hereund~r shal) b~ payable !o S~cund Party aa itt iatenst m~p app~u S~nd S~tu»d Psrtp mar appfr ~n~ proc~eds d sueh inaurance whuA may be
recei~td by Secur~d Party bw~rd papment d lh~ tiabiliue~, wA~th~r du~ a nol du~, ia ~ncl~ order d appllcation u Secured Par~y may detecm~ne~ and
each auc6 policY shaU pmvid~ !ar l0 dsrs' wrinsn minimum cancdlation aotice to SKVr~d PaMy; aad each wch Qolicr shap. it Secur.d PaNy so :equesls,
?+e a•Msilr± arE!R ~.::s.: °:riy: :n~i Secured 'rarry iaay act aE attorn~Y for Borrow~t in o6ttiaieq. adjustinq. s~nlinq. ~nd eancellinq such msurance and
indorsinq any dufu; {b1 at a1l times ke~p th~ CoAateral he~ trom aap ad~~rw li~a. secutity interest. or eacueabrance and in good order and repa~: aad x•ili
not wrasN or destrop ~1~t Collateul ot snY part thanol.
8. ta? Bonowrer will nd us~ the Collatera! ot permit th~ same b be used in violaticn ot sny statute ot ordinance: and Secured Par1y rRay
e:amine and inspeet the Ccli~tsral st eny time. wAererer located. !b) Borrorret wrill par prompUr when due all Ia:es and auersments upon th~ CoI
lataral or tor its uae a ope~ation or upoo fhis sqtsement or upon anp nob or not~s or dher writinq evidencing the IiaDili~ies. ar any o! the:n
9 A~ ils cpuon. Secuted Party may discharqe ta:~s. li~ns or a~curity fAi~ibb or' othsr encumbranres at any rime levied or placed en the
Collateral. may pay tor insuunes on Ihe Cotlateral, and may pay la th~ maintenancy and pr~servation ot 1ks CoUabral. Borrower aqrees b re~m6ursa
Secured Party on demand lot any payaunl mad~, or anp e:p~~w iacutr~d, by Secur~d Party. pursuant to the lcregoinq authori:alan. Uni~l delaull.
Borrower may ha~e poueuion ot Collaterai and uss it in any Lwful maan~r not icoonsisant ~ri~h thu ueement and not incons~stent w~th any
poliep oi insurance thereoa.
10. Borto*re~ shdl be m defautt under t1~is aqreemeat upon ~hs happeninq oi aay d the tollowing sveats or coad»ionsr lailure or omusion to
pay whsn due aay iiability wt any instaUment theteol or interest th~r~on), ot d~tault in the payment cr peiformaneee of any obliqat~on. covenant.
aqce~ment, or liab~lity eontained or reterred Io h~rein; (b~ anq rarranty, repre~atatioo, or suiement made or furnuhed to Secured Party by or cn
b~hal! o! aay Bortower pror~a Io 1u~e beea t~tae in any m~t~nat resptet ~rhen made or lurnished: +c'~ loss. thdt, subatantiai damaqe. destrucracn.
sal~. ot encumbraace to or of any d Ihe Coilaleral. or the makinq ol any levy_ ss~ure. or auachment thereol oc thereon: tdl any Obl~qor whlch
t~sm, as used h~rein, sha11 mean esch Borro.ver and ea,D other partr primarily or second+rily or conunqently hable on any o! ~he lubiliues Eecort:es
iasolvent or unable to pay debts as they mature or makes on assiqnm~nt tot tl?s benetit o! aed~to~s. cr any proceedinq is ~nshtuted by or aqalnst
any Obl~qor aliequ~q that such ~Obligor is insolrent ot unable b pap debb as they mature: te: entry o! any judqment aqains~ any Ob!~qor t death
o! anJr Obliqor w~ho u a natura! person, or o! any partner o! any Obliqor ~IIIKA is a partnersh~p: ~q~ dissolution. merqer or ccnso:~dation. or transler
of a~ubstaatial part ot ths pro~ertv of aay Obliqor vhich u a eorporation or a pattnenhip: :h+ appo.ntment of a rece~ver lor the Co:lateral c~ any
ehereot cY tor any properey in wh~ch any Sonower has an intertst.
11. Upon the occv«ence d any such defaul~ or at anq time therealter. or whene~er the Secured Party feels ~nsecure ior any reason what-
soe~~t. S~eured Party may. at its option. declare all lub~lities secvr~d hmby. w any of tAer !navithstandinq any provuions theaeo4:. :mmediately
du~ and payab?e without demand er IfOtIKlE d any kwd and the saoN thereupon shall immedia~ely become and be dua and payabie without demand
or nolice ibut wllh sueh adjusunents. J any. ~rith respect to interest ot cther eharqe~ u may be prorided tot ir~ the pcomissory nete or other wntinq
evid~aciaq auch lubility), and Secured Party sAall Aave and may e:ercise from tim~ b tim~ any aad all nnhe. ..~.~±d•• t! a~^~-~ os„~
~;.~ae: e~a :.`n`~~.-.~ wmmerciei Code and any ana aii nqAq and rtmedies a~silabN 1o it undar aey o~her applicabl~ law: and upon request or demand
ot S~eut~d Partr. Dorrow~~r shall. at its a:pease, assemble the Collabral and maks it avaliable to the Secured Party :t a coavenieat place accepuble
to S~eured Party: ~ud Eorrowsr sLa11 prcmp~ly pay all cosb ot Sscutsd Party ot col4ct'an of any and all tAe liabilities, and entorlement ol riqhts
het~und~r. includinq nasonabi~ anorneys' lees and leqal e:peas~s and espenses d any :epain a any o! the Coll~~eral and e:penxs ol any repairs
to aar nalty or other ptopMy io which any ol the Collateral may be aNiz~d. Any naice ot ule. dispositwn or other intended action by Sccured
Part~, NO! b Bortow~r a1 ~h~ address ol Barwcer sp~citi~d abo~e or at an~ oth~t sddress shcwa on the records ot Secured Party. at least f~ve days
prfor b such aclion. sDsll conrtitute ~~asonabl~ colice ~o Borrower. Esp~aNS of - rMakinq. Aoldinq. preparinq tor sale. aellinq. oc the liice. shal!
inctud~ S~eur~d ?anr's rsawnab{~ anomeyi f~es and legal espena~s. Aa~ ~:c~as or surplus o1 prcc~ads of any disFositioa of any ol the Cot-
laf~ral may D~ applied by Secur~d Party towrud psyment of such d Ih~ liabilitit~. aad ia such order ot ~ppticatio~?. as Secured Party msY from ~~ms
to tim~ alect.
12. No wsir~r br S~cur~d Patty d any deiault shall op~rat~ u a wai~~r d anr otb~r delaull or af th~ ums delault cn a fu~ur~ occasion. No
dela~ or omiuion oo Ih~ part ol S~c~trsd Patty w eYemsinq any right or wmadr ahall operat~ as s wai~er thenol. and no sinqls or partial ssercis~ Dp
S~cur~d Party of aar riqAt or nmedy shaU pr~clude aay aher or furtAsr s=~rci~e tAer~of cr th~ eY~icw ol any o~h~r riqht or remedy. Tim~
u ol t1?~ ~wnc~ d thii aqrremant. The prorisions d thi aqieemsat a» eumulati?~ and in addnion b th~ pro~isioni ol any not~ aecur~d by 1hi~
agrKm~n4 aod Secvted Partq ~hall have all ike Eeae!icc. riqhts and remedi~s of aad undtr any aote secur~d h~rebY. !t more ehan one pariy
:rslt ~:~cvts thu aqreem~nt. the Ierm "Borrower' ~hall m~in sU partin ~iqnwq thu aqrNm~n1 and ~ach of Ih~m. aod all such parti~s shaU b~
)ciady and s~~sraAy obliqat~d and liable heraunder. Th~ iiaquLr proeeaun. wh~a used h~nia, shal{ ~nctude ~he plural and ~l?~ nwter shaH usdude
maacvlia~ and I~miniue. If tbis aqieem~n~ is not dated Mll~p ~:~cuMd by th~ Dorrow~r. th~ S~curM Party is authori~d, without notic~ to th~
Borroxer, b dsb Ihia aqie~m~at. Th1s aqseemaot skall b~eom~ tffacli~e ss d th~ dat~ of this i97NID~nL All righu of S~cvred Partr h~nund~r ahaU
inut~ b ths benetit of W succsawrs and asaign~: and a!1 iiabilitiN d Horro+?~r shalt bind Ih~ h~irs, ~s~cuton, admiuutrato». auce~ssor~ and astegns d
each Dorsawet.
13_ 7!?u agrkmtat has bean delsrcr~d in ths Stab ot FiorSda sad aDall b~ conaeruM in aecotd~nc~ wri~h th~ b~n ol Florlda. Wh~n~~r possibl~,
each proriaioo ol Ihir aqrNmsat ahall b~ int~rpnted In ~uch aunn~r ~s w b~ ~8sctir~ snd ~alid uod~r applicablt law. but if any psori~ioo o! thu
aqsam~at sA~ll b~ prohi~it~d by o~ iavalid und~r appUcabl~ law. rue6 prorisioo shaU b io~H~eti~~ b th~ ~sant ol ~ueh pro6ibitbo or in~~:iditt.
witHout in~alidatiuq th~ r~maind~r d such prw?i~ion or th~ ~maiaisq pmrisioes o! U?is aqrMm~nL
IH WITNESS WHEREOF. thu aqreement hu bNn duty ~s~cv4d as ot U?~ 4~ dar d_ 19~_
Siqn~d. p~1~d and d~livered ~iy7~j ISEJ~LJ
in ths pr~uocy ol: ECIWBrt~ P. Conti
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